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Dhaka Flow to organize ‘Youth Wellness Festival’ at ULAB
Dhaka Flow is going to host the first in a series of Youth Wellness Festivals on Saturday at University of Liberal Arts Bangladesh (ULAB) focusing on university students.
The festival will cover wide range of themes related to mental, physical, spiritual, and emotional health.
The event will draw 200 students to the research hall to participate in a day-long exploration into healthy living, said a press release on Thursday.
Dhaka Flow is a platform for anyone and everyone who has made wellness their lifestyle or their livelihood. The website features a wellness directory with people and companies offering wellness products and services. There is also a wellness calendar with upcoming classes, workshops and retreats and a wellness blog with wisdom and knowledge about these topics.
To join the wellness movement and ‘surrender to the flow’, check out Dhaka Flow’s website and follow the Dhaka Flow Facebook and Instagram pages, said the release.
Items with price up or down due to budget
Like every year, Finance Minister AHM Mustafa Kamal recommended changes in value-added tax (VAT) or duties on several goods and services. This directly impacts the price of these products.
Generally, the change will come into effect from the day of announcing the budget.
Prices of these products may increase due to withdrawal of tax exemption and in some cases imposition of 7.5 percent to 25 percent tax and import duty and VAT.
Read: Forex reserves to improve soon: Finance Minister hopes in budget speech
The products are ballpoint pens, plastic products, dates, goggles and sunglasses, all kinds of tissue, mobile phone set, gas cylinders, cement, bricks, cigarettes, liquid nicotine, basmati rice, cashews nut, glue, foreign software, foreign lift and escalators, bicycle and foreign sandwich panel, land, and flat registration.
The prices of sweets and sweet-related products may come down in the proposed budget for the 2023-24 fiscal year.
Besides, handmade biscuits, cakes, baby diapers and pads, local eclectic bulbs, switches, meat, and meat-related products, delivery charges of e-commerce, and aristocratic foreign clothes may also see prices go down.
Budget 2023-24: Home Ministry gets Tk 1074 more to spend than current fiscal
A total of Tk29,858 crore has been proposed for the Public Security and Security Service divisions under the Home Ministry in the proposed budget for fiscal year 2023-24, up by Tk 1074 crore, from the outgoing fiscal year 2022-23.
An amount of Tk 28,781 crore was approved for the Public Security and Security Service divisions under the Home Ministry in the outgoing fiscal year 2022-23.
Finance Minister AHM Mustafa Kamal announced the proposed budget while delivering his budget speech in the National Parliament today (Thursday).
Of the total allocation, Tk 25,695 crore has been allocated for the Public Security division, while the remaining Tk 4,163 crore for the Security Service division.
These allocations include important state agencies providing security and emergency services such as the police, the Fire Service, etc.
1 soldier killed as Army captures KNF headquarters with training camp in Bandarban
An army patrol team on Thursday occupied a secret training camp with the headquarters of armed terrorists of KNF (Kuki-Chin National Front) in Thepi para area of Ruma upazila of Bandarban.
Following complaints from local residents living around the KNF training camp area, a patrol team of Ruma Sena Zone left for the camp on the basis of intelligence inputs for their safety. As the team approached the training camp, the KNF armed terrorist group fled, according to a press release of the – Inter Service Public Relation Directorate (ISPR).
Also read: 12 militants, 14 KNF members arrested so far in anti-militancy drive in Bandarban: RAB
However, at around 0920 hours, the army patrol team was hit by an IED (Improvised Explosive Device) planted by the terrorists. One of the soldiers injured in the blast was rushed to Chattogram Combined Military Hospital by helicopter in a critical condition. Later, soldier Tujam (30), died while undergoing treatment at the hospital, it said.
Such potential IEDs are being identified and deactivated by the army's specialized team for the safety of the general public, it added.
Chief of Army Staff General SM Shafiuddin Ahmed expressed shock at the death of the soldier and conveyed his condolences to his family, the release also said.
Also read: KNF leader arrested in Bandarban
In recent times, KNF terrorists have been creating anarchy in the hilly townships of Ruma, Roanchhari and Thanchi upazilas of Bandarban through continuous killing, kidnapping, creating panic in the public mind. Bangladesh Army and other law enforcement agencies are working to prevent such human rights violations, the release further said.
Budget : Health sector gets Tk 38,052 crore allocation
Finance Minister AHM Mustafa Kamal in his budget speech on Thursday proposed to allocate Tk 38,052 crore for the health and family welfare sector in the financial year 2023-24.
The allocation was Tk 36,863 crore in the last financial year.
The minister said, “Ensuring quality and people-friendly healthcare is one of the election pledges of our government. We are working to implement this commitment,” he said.
Read: It’s undoubtedly a smart budget for plundering public money: BNP
He said in continuation of the success in achieving the Millennium Development Goals in the health sector, efforts are also being made to achieve the Sustainable Development Goals.
The main features of achieving sustainable development goals in the health sector are: expanding the prioritised healthcare services, engaging more people and reducing out-of-pocket expenditure, said Kamal.
“In brief, our foremost objective is to ensure quality healthcare for all citizens. Consistent with this objective, we are providing health care across the country through 31 operational plans under the Fourth Health, Population and Nutrition Sector Programme (HPNSP). “
Thinking of lasting solutions to climate impacts: Finance Minister
Finance Minister AHM Mustafa Kamal on Thursday said they are thinking of lasting solutions for climate change issues to ensure sustainable development alongside short and medium-term strategies for macroeconomic stability.
“These strategies are elaborated in Delta Plan and Mujib climate Prosperity Plan. Moreover, Bangladesh Bank is working on the impact of climate change on the financial sector,” he said, while placing the proposed budget for the fiscal year 2023-24 in Parliament.
In order to strengthen green and climate resilient development in public investment management, new rules are being formulated and necessary amendments are being made to the existing rules, said the finance minister.
The Delta Wing is going to be established to facilitate the implementation of the Delta Plan and necessary guidance is being provided through the Local Government Division for formulation, financing and implementation of climate resilient and green local plans.
Read: It’s undoubtedly a smart budget for plundering public money: BNP
He said the government has adopted the 'Sustainable Public Procurement (SPP)' policy to encourage environmentally and socially sustainable business and investment.
With a view to ensuring clean, efficient and climate resilient investment, the government has reformed the process of environmental clearance by issuing the Environmental Conservation Rules, 2023 thereby ensuring environmental and social impact evaluation and reducing adverse impact of industrial units of projects, the finance minister said.
The 'Control of Air Pollution Rules, 2022' has been promulgated to improve air quality and reduce greenhouse gas emissions.
The government has issued revised Energy Efficiency and Conservation Rules, 2023, with provision for publication of annual energy consumption reports for the purpose of energy saving in industries, businesses and households.
It has been made mandatory for all ministries to include disaster risk and impact assessment in the design of projects worth more than Tk 50 crore, said the finance minister.
Budget sets 7.5 percent annual economic growth, inflation at 6 percent
The proposed budget of Bangladesh in the fiscal year 2023-24 has set an estimated Gross Domestic Product (GPD) worth of 50.06 lakh crore with a 7.5 percent annual growth.
The inflation target was set to 6 percent which is now 9.28 percent in the proposed budget.
The 7.5 percent growth projection could be deemed as ambitious given the uncertainties in the global economy and various other challenges at home.
Finance Minister AHM Mustafa Kamal explained his position on why he is expecting higher growth this time despite the economic pressures.
Read more: Finance Minister unveils Tk 761,785 crore national budget
“We expect to return to a higher growth trajectory and achieve a 7.5 percent GDP growth, by way of investing in the productive sectors and stimulating productivity and domestic demand,” he said.
Kamal focused on investment in the 100 special economic zones and completing ongoing mega-projects to achieve the GDP target.
In FY19, Bangladesh achieved a record 8.15 percent GDP growth. Then came the pandemic. The finance minister set a growth target of 8.2 percent in FY20, but the actual growth achieved was 3.45 percent, the lowest in several decades.
The growth rate increased to 6.94 percent in FY21 after recovering from pandemic effects. The GDP growth further increased to 7.1 percent in FY22.
Read more: Budget FY23-24: Focus should be on tackling macroeconomic challenges, says Dr Atiur Rahman
24 fishermen held for catching fish in Sundarbans violating ban
The Forest Department arrested 24 fishermen from Katka sanctuary in Sharankhola upazila of Bagerhat district for catching fish illegally, violating the ongoing three-month ban in the Sundarbans.
Mohammad Belayet Hossain, Divisional Forest Officer of Sundarbans East Zone, said the forest officials conducted a drive in the area in the morning and arrested 24 fishermen along with 12 banned current nets and four trawlers.
All the arrestees were from Patharghata upazila in Barguna district.
Legal action has been taken against them under the Forest Act.
A three-month ban on fishing and tourism in the Sundarbans started from June 1 to ensure safe breeding and movement of fish and wild animals.
Also read: 3-month ban on fishing, tourism in Sundarbans begins on June 1
Movement of all types of vessels including boats, fishing trawlers in the rivers and canals as well as the entry of fishermen and honey collectors will remain suspended from June 1 to August 31.
No locals or foreign tourists will be allowed to enter the forest during the period.
Kamal explains why imports had to be reined in
Jatiya Sangsad, Jun 1 (UNB) - The current account deficit increased from US$ 4.58 billion in FY 2020-21 to US$ 18.6 billion in FY 2021-22 due to increase in import expenditure in the external sector and decline in remittances.
This was revealed in the national budget FY 2023-24, unveiled by the Finance Minister AHM Mustafa Kamal in the Jatiya Sangsad on Thursday.
Also read: Tax-free income limit increases to Tk3.5 lakh
It was mentioned in the budget speech that the import growth increased to 35.9 percent in FY 2021-22 from 8.6 percent in FY 2019-20.
On the other hand, in FY 2021-22, the expatriate income decreased by 15.12 percent compared to the previous fiscal year.
Besides this, the financial account also turned negative due to slow implementation of foreign aided projects and export earnings repatriation.
The finance minister mentioned that the twin deficit in the current account and financial account worsened the balance of payment situation.
Also read: Strategy being formed to turn Bangladesh into developed one: Finance Minister
Foreign exchange reserves decreased from US$ 46.39 billion in June 2021 to US$ 41.83 billion in June 2022 and gradually further declined to US$ 29.97 billion at present.
He said, at the same time, Taka depreciated against the US dollar. In June 2022, the exchange rate of Taka against US dollar was Tk 93.5 per dollar. On May 24, 2023 the exchange rate stood at Tk 108.1 per US dollar.
Bangladesh Bank's initial attempt to stabilize the foreign exchange rate by increasing the supply of dollars in the market caused a temporary liquidity crisis in the market. As a result, the government's interest expenditure on deficit financing from bank sources increased.
To deal with the situation, the government is implementing some austerity measures in other areas in the current fiscal year while continuing to prioritize spending on projects related to public welfare and supply sectors.
To keep the production of the agricultural sector uninterrupted, Mustafa Kamal said, the government has taken quick and effective steps to ensure the supply of fertilizers at affordable prices.
“Besides, allocation on subsidies for electricity and gas has been enhanced. Alongside, Bangladesh Bank has increased the policy interest rate i.e. repo rate several times to control inflation”, he added.
Moreover, customs duty on rice prices has been withdrawn and regulatory duty has been reduced from 25 to 10 percent, he said, adding, advance tax exemption has been allowed and duty on diesel has been reduced from 10 percent to 5 percent to reduce the price of diesel.
To control inflation and to mitigate the impact of inflation on low-income people, the government has been carrying out programmes like open market sale of rice, distribution of 1 crore family cards and so on.
In order to restructure the foreign exchange reserves and ensure the stability of the exchange rate, various restrictions have been imposed, including the imposition of a ban on the import of unnecessary and luxury goods, the setting of margins at different rates for opening letter of credits (LCs) depending on the nature of the imported goods.
As a result, imports declined by 12.37 percent in the first nine months of the current fiscal year. It may be noted that the import growth in the first nine months of the fiscal year 2021-22 was 43.84 percent (over the previous fiscal).
Due to the government's austerity measures and import control, the growth in the industry and service sector has decreased in the current fiscal year and as such the GDP growth will decline slightly to 6.03 percent compared to the previous fiscal year according to the provisional estimate released by the Bangladesh Bureau of Statistics (BBS), said the finance minister.
Bangladesh sees 70 more Covid cases in 24 hrs
Bangladesh reported 70 more COVID-19 cases in 24 hours till Thursday morning as the cases keep rising in the country.
With the new numbers, the country's total caseload rose to 2,039,417, according to the Directorate General of Health Services (DGHS).
However, the official death toll from the disease remained unchanged at 29,446 as no new fatalities were reported.
Meanwhile, the daily case test positivity rate rose to 5.99 percent from Wednesday’s 2.72 percent as 1,174 samples were tested.
The recovery rate stands at 98.38 percent. However, the death rate remained unchanged at 1.44 percent.
Bangladesh registered its highest daily caseload of 16,230 on July 28 in 2021 and highest number of fatalities of 264 on August 10 the same year.