Local-Business
BSCIC holds beekeeping development workshop
The Bangladesh Small and Cottage Industry Corporation (BSCIC) is implementing a project of adopting beekeeping activities through training micro entrepreneurs.
As part of the program the BSCIC organized a skill developing workshop for beekeeping in Khulna region on Saturday.
The proposed project titled 'Development of beekeeping through application of modern technology' is a green leaf of FY 2021-22. BSIC has taken up this project under the Ministry of Industries to implement the government's My Village, My City program.
Nepal Chandra Karmakar, Director (Planning & Research) BSIC, was present at the beekeeping workshop as the Chief Guest.
Md. Hafizur Rahman, Deputy Director, Department of Agricultural Extension, Khulna, Mohammad Rashedur Rahman, Deputy General Manager (Planning) BSIC and Tushar Kanti Roy, Lecturer, Khulna Agricultural University, were present as the special guests.
Hafizur Rahman presented in the workshop overall BSCIC activities, master plan, BSCIC contribution in development of honey industry, existing status and problems of bee industry, activities identified under the proposed project.
In the workshop, the entrepreneurs involved in the honey industry highlighted the problems of the industry and suggested to include important aspects of the project.
A total of 20 honey industry entrepreneurs were present at the workshop.
National Geographic's 'Super Factories' showcases Walton factory
Walton has become the first Bangladeshi company to be featured in the National Geographic Channel's documentary series "Super Factories."
The episode featuring the Walton factory in Gazipur was aired at 8:30pm (Bangladesh time) Saturday, giving viewers an insight into the company's manufacturing process and success story.
The subscribers of Bangladesh Cable Operator (dish connection) and DTH users were able to watch the 44-minute documentary on National Geographic.
Read: Walton gets best electronics stall award in DITF-22
Super Factories unveiled the story of the successful application of modern engineering, functioning and innovation that goes behind the scenes of the making of Walton products.
The programme also showcased Walton's aspirations to contribute to the transformation of Bangladesh from an agricultural country to a manufacturing hub of electronics and technology products, branding "Made in Bangladesh."
National Geographic India said: "We endeavour to bring thought-provoking stories across the globe, through insightful narrative. Our popular Super Factories series was created to give viewers a deeper understanding of high-tech factories and expand their knowledge."
Read: Walton to bring new Printon printers
"With this latest edition, we aim to showcase the compelling journey of Walton Group, highlighting their innovative approach to adapt to the evolving technology and the needs of consumers that have helped them to make significant strides within the consumer electronics industry."
Walton's Chief Marketing Officer Mohammad Firoj Alam said: "Walton is representing Bangladesh in the global arena in the fields of engineering and technological advancement. In this documentary, we wanted to share our success story with the audience at home and abroad."
The programme will be rebroadcast at 10.30am (Bangladesh time) on March 6, 13, and 27, April 2 and 3 and 8.30pm (Bangladesh time) on March 12 and 19.
Read Walton Primo NX6 Review with Price in Bangladesh
Abolish supplementary duty on locally-produced goods: FBCCI president
FBCCI President Md. Jashim Uddin on Saturday advocated abolishing the supplementary duty on locally produced goods for the sake of promoting domestic industry.
He made the remark at the first meeting of the FBCCI's standing committee on Budget, Import Duty, Income Tax, VAT and other taxes held at the FBCCI office.
During the meeting, Md. Jashim Uddin said that after the LDC graduation, the government cannot protect the domestic industry as it is now. Therefore, initiatives should be taken to strengthen the local industry through tax and duty exemption till 2026.
The FBCCI president urged the government not to impose any supplementary duty on domestically produced products in the next fiscal budget.
Also read: FBCCI to establish UAE -Bangladesh Joint Council in Dubai
At the same time, the President said, there has been a positive growth in exports despite the Covid situation.
However, he said that the export earnings have increased mainly due to increase in prices of raw materials in the world market and the profits of the traders did not increase.
He urged not to impose any new tax in the next budget.
The FBCCI chief demanded an assessment of whether the various automation projects undertaken by the government in revenue management are being implemented properly.
Md. Farid Uddin, panel advisor of FBCCI and a former member of the NBR, said that due to various amendments in 2019, the VAT Act-2012 has now become the Sales Tax Act.
He recommended a fundamental reform of the law. He urged the Board of Revenue to remain accountable to the business community so that businessmen are not harassed by the tax officials.
Also read: FBCCI President urges expatriate Bangladeshi businessmen to invest in economic zones
At the meeting, BTMA President Mohammad Ali Khokon demanded repeal of tariffs on man-made fiber in the forthcoming budget, a single rate of duty on imports of spare parts, and retention of 15 per cent corporate tax on textiles till 2030.
Committee member and FICCI advisor Snehashish Barua suggested rationalizing the advance tax rate and formulating a single rate of VAT in the next budget.
Representatives of various associations and chambers also complained about irregularities and harassment of VAT officials. They also demanded that the VAT collection process be brought under full automation.
FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice President Salahuddin Alamgir, Md. Habib Ullah Dawn, MA Razzak Khan Raj, Director Harun Or Rashid, Amjad Hussain, Md. Naser, Dr. Nadia Binte Amin, Syed Sadat Almas Kabir, Abul Kasem Khan and FBCCI Secretary General Mohammad Mahfuzul Hoque were present.
BB relaxes ICRRS to facilitate businesses’ loan
Bangladesh Bank (BB) has relaxed again banks’ Internal Credit Risk Rating System (ICRRS) considering the impact of the pandemic on the economic activities.
As a result, the businesses will be benefited as banks can provide loans following relaxing ICRRS, the central bank officials said.
The marginal ICRRS score fell to 50 percent from 55 percent.
Read: BB asks NBFIs comply with Banker's Book Evidence Act-2021 to avoid imprisonment
The Banking Regulations and policy department (BRPD) of BB issued a circular on Wednesday relaxing the ICRRS adding that financial statements of different sectors including the industry, trading, and service sector of the year were not as stable as before.
Institutions face difficulties in re-borrowing or renewing previous loans as the picture is relatively marginal, the BB circular stated.
In this context, the BB relaxed the ICRRS to accelerate business activities across the country.
Read: Economy resilient, no liquidity shortages in banks: BB governor
The BRPD directive states that the businesses can avail of the required loan facility from the bank considering the financial condition and/or to continue the renewal of the existing loan.
IsDB to provide $56 million to improve sanitation, hygiene in Bangladesh
Islamic Development Bank (IsDB) will provide USD $ 56 million to improve sanitation and hygiene services for 14 lakh (1.4 million) people of 10 priority towns in Bangladesh.
A loan deal in this regard was signed between Econmic Relation Division (ERD) and IsDB) here on Sunday.
Under the loan agreement, IsDB will provide $ 56 million, out of which $ 36.4 million is loan and S$ 19.6 million is grant.
Read: TCB to provide food support to 1 crore families during Ramadan: Tipu
Fatima Yasmin, secretary of Economic Relations Division, ministry of finance has signed the agreement documents with IsDB.
The purpose of the loan is to improve quality of lives and livelihoods for 1.4 million citizens of ten selected priority towns including Narsingdi, Shariatpur, Cumilla, Lakshmipur, Jamalpur, Notore, Pabna, Sirajgani, Bagerhat and Patuakhali.
The project implementation will ensure safer, adequate, equitable, sustainable sanitation, hygiene, facilities and services with a special focus on the urban poor women and children in 10 towns of Bangladesh.
The $36.4 million loan shall bear an interest rate approximately 3.20%. The total financing shall have a maturity of 20 years including a grace period of 5 years.
IsDB is one of the leading and trusted development partners of Bangladesh.
Read: OPEC provides $ 75 million to Bangladesh for pandemic recovery
The purpose of the bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Islamic Shari’ah.
Bangladesh is one of the founding members of the IsDB. The development partner has been providing financial assistance since its inception in the form of grant, project loan, trade financing, private sector financing, export credit guarantee etc.
As of now IsDB has approved approximately 22.51 billion US$. IsDB’s project financing in the public sector of Bangladesh mainly focuses on sanitation, water sector, education, power, rural infrastructure, poverty alleviation and agriculture.
BD Hot Deals offers up to Tk10,000 cashback on Nagad payment
E-commerce platform BD Hot Deals has entered the market with a special cashback offer for making payments through mobile financial services provider Nagad.
Customers can get a cashback of up to Tk10,000 upon placing a pre-order through Nagad from home and abroad.
The official inauguration of BD Hot Deals was announced in Banani, Dhaka through an event Thursday.
Read: Nagad offers up to 50% discount, cashback throughout February
Md Nojmul Sayadat, chairman of BD Hot Deals, and Shihab Uddin Chowdhury, chief sales officer of Nagad, signed an agreement at the event.
With a 20 percent advance payment, any product from the US or the UK will be delivered to customers in 25 days through BD Hot Deals. It will be subjected to the digital platform guidelines of the government.
However, the remaining 80 percent payment must be made at the time of product delivery.
Read Payoneer to Bkash Fund Transfer: A Great Advancement of Freelancing in Bangladesh
Customers will be eligible to obtain a 10 percent cashback, up to Tk10,000, if the entire payment is made through Nagad.
BRAC continues emergency services for Rohingyas, locals amid Covid-19 pandemic: BRAC Global ED
On Tuesday, Global Jerome Oberreit, the Executive Director (ED) of BRAC called for continuing emergency services for Rohingyas and local communities amid Covid-19 by following health rules.
Jerome put emphasis on strengthening BRAC’s humanitarian assistance and necessary activities for the Rohingyas and the local community with the assistance of the government.
He came up with the remark while visiting Rohingya camps in Cox’s Bazar. He visited different activities of BRAC at camp-1 East, and camp-4 extension at Ukhiya upazila of Cox’s Bazar, said a Brac press release.
Read:Serajul Islam Chy, Afsan Chy, 4 others get BRAC Bank-Samakal Lit Award
He instructed all concerned to provide emergency services for Rohingyas people and the host community by following health rules amid Covid-19 pandemic.
Dr Md. Akramul Islam, Director of Humanitarian Crisis Management Programme (HCMP) of BRAC; Roberts Sila Muthini, Head of HCMP Programme, among others, were present on the occasion.
Jeromke, during his stay at Rohingya camp, talked to Rohingyas and host community people and was apprised of their problems.
Read Japan to financially support operations of WFP & IOM in Bangladesh
He witnessed primary health care centre, run by BRAC HCMP, water network facility of WASH sector at camp-1 east, mental health and psychosocial support of child protection sector, homestead gardening of agriculture sector, legal protection and community based protection of Protection sector and two-storied learning centre of education sector at camp-4 extension.
The BRAC Global ED said, BRAC has been providing emergency services such as water, food, health care services and rehabilitation for the Rohingyas and local community with the support of the Bangladesh government since the inception of the Rohingya crisis.
Read: BRAC Bank, BFDS ink MoU to ease banking services for freelancers
BRAC continues to provide such services despite the outbreak of Covid-19, he said, hoping that BRAC will also continue it in any crisis moment in the future.
Later, he exchanged views with delegations from the Inter-Sector Coordination Group (ISCG), the United Nations High Commissioner for Refugees (UNHCR), Médecins Sans Frontières (MSF), at a hotel in Cox's Bazar.
During the meeting, he emphasized on mutual partnership of BRAC with agencies alongside the Government of Bangladesh.
Read Lack of policy support, absence of infrastructures major impediments in financial inclusion: economists
ICMAB delegate meets Commerce Secretary
A delegation of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) led by its President Md. Mamunur Rashid called on Tapan Kanti Ghosh, Senior secretary, ministry of commerce at his secretariat office on Tuesday.
ICMAB President updated the secretary about its activities and particularly about the development issues of CMA profession.
Read:Bangladesh now safest, most transparent RMG maker in the world: BGMEA
He also sought help of the secretary for further development of ICMAB.
The secretary congratulated the newly elected office bearers of the institute and assured them of support and assistance in their activity.
Among others Treasurer Md. Ali Haider Chowdhury, Past President AKM Delwer Hussain and Executive Director Muhammad Abdullah were present in the meeting.
Othoba.com launches online book fair
E-commerce platform Othoba.com has organised the Online Book Fair 2022 in the month of Amar Ekushey Book Fair, one of the most sought-after events of the year.The fair comes with new books of the readers' favourite writers, local and foreign ones, bestseller books, Islamic and motivational books and many more.
Also read: Othoba.com launches 12.12 campaign Sunday
During the online book fair, Othoba.com is offering a maximum 40 percent discount on all books and 20 percent cashback on bKash payments.
Shipping is available across the country on payment orders of more than Tk300.
Also, the fair includes daily mega quizzes, weekly book review contests, and discussions with readers' favourite authors throughout February.
Also read: Othoba.com offers special discount for 10-10 Festival
Tap offers up to 71% cashback on mobile recharge
Mobile financial service (MFS) provider Trust Axiata Pay (Tap) has come up with cashback offers on mobile recharges.
With every recharge, users can enjoy instant cashback ranging from 10-71 percent on every recharge during the campaign which will run till February 28.
People are now more interested in recharging their numbers through different MFS providers.
Read Tap launches zakat campaign
Tap – a joint venture company of Trust Bank, Bangladesh and Axiata Digital Services Sdn Bhd, Malaysia – is offering cashback offers on various packs such as voice, data and combo.
Users will be allowed to avail of the offers up to three times for each pack during the campaign.
Dewan Nazmul Hasan, chief executive officer of Tap, said: "With the digital transformation underway in full swing, people are looking for more convenient ways of doing everything. When it comes to mobile recharge, people are now leaning towards mobile financial service providers."
Read Tap, Dana sign deal to offer embedded financial services