bangladesh
Experts for more growth-friendly, simple, transparent tax system
The National Board of Revenue (NBR) should reduce tax deduction at source (TDS) following global practices and need to modernise and simplify the country's tax system.
The regulator should offer incentives for Bangladeshi producers and focus on thrust sectors like leather, jute and garment fashion design to create a country brand in the international market.
Experts said this at an online conference on direct and indirect tax organised by the Institute of Chartered Accountants of Bangladesh (ICAB) on Saturday.
Also read: NBR moves to speed up revenue collection
Tax rate changes have a significant impact on investment decisions as investors prepare a budget and plan accordingly based on it, they said.
Pointing to the tax on foreign nationals working in Bangladesh, the experts suggested introducing provisions like withdrawals of tax and customs benefits, cash incentives, cancellations of branches permission for unauthorised employment.
Planning Minister MA Mannan said, "Considering the cost related to tax collection, it is better to chase the evasion of tax by big taxpayers than chasing marginal taxpayers."
Also read: It's time to change the mindset on taxpaying: Salman F Rahman
ICAB President Mahmudul Hasan Khusru said, "An improved tax system is the key to financing public services, reducing inequality, and making the government more accountable. Unfortunately, our tax rate is higher compared to the ones of similar economies including the neighbouring countries."
"Our tax to GDP ratio is exceptionally low. This indicates that there must be some incompatibilities," he added
Bangladesh is still a low tax effort country with a high buoyancy ratio, implying that the policy-makers of Bangladesh have the scope and potential to opt for greater revenue mobilisation through internal resources to meet the budgetary deficit, Mahmudul said.
Also read: NBR sets its sight on cranking up tax-GDP ratio
"However, the tax system in Bangladesh is gradually improving, raising more revenue and reducing the dependency on aid."
Govt to monitor adherence to new LPG price after lockdown: Energy Secretary
Energy and Mineral Resources Division’s senior secretary Anisur Rahman has said that the government will monitor the implementation of the new price of Liquified Petroleum Gas (LPG) fixed by the Bangladesh Energy Regulatory Commission (BERC).
“We will monitor whether the LPG is being sold at the new price fixed by the BERC,” he said while addressing a webinar on “BERC’s LPG Pricing and Its Sustainability” organised by Energy and Power magazine on Saturday.
The energy secretary’s remarks came against the backdrop of BERC’s announcement to fix the price of LPG with effect from April 12.
As per the new prices, the private companies will have to sell a 12 kg LPG at Tk 975 while LP Gas Company Ltd, the state-owned company, will sell its 12.5 kg LPG at Tk 591 at the retail level.
Also read: Pvt companies’ 12 kg LPG price fixed at Tk 975, govt’s 12.5 kg at Tk 591
But many consumers apprehend that they will not get the LPG at the prices fixed by the regulator as there is no strict monitoring by the government about its enforcement.
The energy secretary said that due to lockdown situation, it is not possible for them to strictly monitor whether the LPG is being sold at the BERC-fixed price or not.
“But after lockdown, we will be going for strict monitoring and it will be the duty of the all the concerned agencies of the government to implement the new LPG price”.
Before the price fixing by BERC, the private companies had been selling 12 kg LPG in the retail markets at Tk 1100 -Tk 1200 while those of the state-owned company over Tk 700.
Also read: ‘Stop meddling in LPG price fixing process’
About 20 private companies have been operating in the market with more than 95 percent market share by annually importing 1.2 million metric tons of bulk LPG from mainly Middle-East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally produced condensates at different gas fields.
The webinar was also addressed by energy experts Dr M Tamim, Dr Ijaz Ahmed, BERC member Syed Mokbul-e-Elahi, and Bashirul Haque.
Bashundhara LPG’s Head of Marketing Zaharia Jalal made a presentation on the issue.
He said that many costs of LPG business were not considered by the BERC while fixing this price.
Also read: BERC moves to set LPG price at retail level
“As a result, the LPG operators will face trouble to make the price sustainable,” he said.
Dr M Tamim said that the BERC should have declared a pricing formula instead of fixing a price in the market.
“If a formula was declared, it would have been more effective to regulate the price,” he added.
1 killed, 2 injured as chemical drum explodes in Madaripur
A construction worker died when a chemical drum exploded at Rajoir Upazila in Madaripur on Sunday.
The deceased was identified as Emon Munshi (22).
Two others were seriously injured in the same incident.
Also read: Man killed as gas cylinder explodes in Barguna ice factory
According to police and local sources, some workers started work on a three-storey under construction building on Saturday morning. Around noon, Emon and his associates tried to open the mouth of an old chemical drum on the roof of the building with an iron device, which caused a sudden explosion. Emon died on the spot.
Also read: Four friends at tea stall burnt as gas cylinder explodes
Two other workers, Enamul Munshi (19) and Zahirul Islam (29) were seriously injured.
Officer-in charge of Madaripur Rajoir police station Anwar Hossain confirmed the news to UNB.
2 more senior Hefazat leaders arrested from Dhaka
Detective Branch (DB) of Dhaka Metropolitan Police (DMP) arrested two Dhaka city unit leaders of Hefazat-e-Islam from the city’s Baridhara and Mohammadpur areas on Saturday.
The arrestees are Hefazat-e-Islam Dhaka city unit president Junaid Al Habib and its assistant general secretary Jalal Uddin Ahmed.
Also read: Another Hefazat leader detained
Contacted, Joint Commissioner (DB) of the DMP Mahbub Alam said Junaid Al Habib, also Hefazat’s central joint secretary general, was arrested from a Madrasa of Baridhara just before Iftar on Saturday.
Besides, Hefazat city unit assistant secretary general Jalal Uddin Ahmed, who is also central committee Assistant Secretary General, was arrested from his Mohammadpur residence at around 2:00 pm, the Joint Commissioner (DB) said.
Also read: Another top Hefazat leader arrested
Replying to a question, he said the two Hefazat leaders were arrested in connection with the case filed with Motijheel police station for the mayhem carried out in 2013 and also for the case filed with Paltan police station in March last month in connection with the violence in Baitul Mukkarram Mosque area (during Modi's visit).
On Friday afternoon the DB also arrested another leader of the religious organisation, Jubair Ahmed, from Lalbagh.
Also read: Hefazat leader Azizul Haque Islamabadi held in Chattogram
With the arrest of the two Hefazat leaders, the number of arrests of Hefazat leaders rose to seven by the DB police from the city in recent weeks.
AL leader occupies government land in Faridpur
A local Awami League leader has been accused of occupying government land at the dead of night at Boalmari Upazila in Faridpur.
The leader is identified as Mizanur Rahman. He is the general secretary of Rupapat Union Awami League of the upazila and lecturer of Salthar Navkam Palli University College.
A written complaint signed by nine people, including Emdadul Haque Milon, a resident of Kalinagar village in the upazila, was lodged with the Boalmari Upazila Nirbahi Officer on Saturday (April 17) morning.
According to the complaint, Mizanur and his men occupied government land on the bank of the Kumar River.
Around 10% of the said land was owned by Water Development Board. They cordoned the land off by putting up bamboo walls around it.
The market value of the occupied land is Tk 30 lakh.
The accused Mizanur Rahman denied occupying the land in illegal means. He said that he can provide legal documents to back his claim.
Boalmari Upazila Nirbahi Officer Jhotan Chanda said, “I have received a written complaint of occupation of government land. In this regard, the Rupapat Union Land Officer has been instructed to go to the spot and take actions accordingly."
Child hospitalized after 'rape attempt’ by 50-year old in Faridpur
An eight-year-old girl has been hospitalized following an alleged rape attempt by a 50-year old man in Boalmari upazila of Faridpur district.
The critically ill child is currently undergoing treatment at Faridpur Bangabandhu Sheikh Mujib Medical College Hospital.
The child's mother lodged a written complaint with the Boalmari police station on Saturday.
Also read: Child Rape in Shariatpur: 'Rapist' madrasa teacher let off with fine
According to the complaint, the girl was having shower at a pond beside her house when Yunus Sheikh, 50, forcibly took her to a garden near Raipur cremation ground and tried to rape her after giving death threat.
The girl was initially silent out of fear when she reached home. But as the pain in her genitals increased during the night, she started crying and told her family about the incident.
She was rushed to the emergency unit of Boalmari Upazila Health Complex.
Also read: Teen held for child rape in Narayanganj
Later, she was shifted to Faridpur Bangabandhu Sheikh Mujib Medical College Hospital on Friday night for better treatment as her condition deteriorated.
The child's mother lodged a written complaint with the Boalmari police station the following afternoon.
Kazi Ripon, a sub-inspector of Boalmari police station, said, "I have received a written complaint of rape bid on a child. Necessary legal action will be taken.”
Also read: Police HQ: 26,695 rape cases filed in 5 yrs, with notable jump since 2019
Boalmari Upazila Health Complex emergency unit physician Amir Hamza said signs of rape attempt was found on the child’s body.
Speakers for tapping potential for FDI in agro processing, light engineering, blue economy, education sectors
Speakers at a webinar on Saturday stressed the need for reforming the taxation system alongside tapping the Foreign Direct Investment (FDI) potentials in a wide range of sectors like agro processing, light engineering, non-cotton apparel, home textile, blue economy and education in Bangladesh to ensure export diversification and smooth LDC graduation.
They also suggested extending the scope for whitening undisclosed money in the health infrastructure, economic zones, and in other infrastructure sectors alongside the existing sectors to create more employment opportunities.
The participants also opined that all the concerned stakeholders need to extend their all-out cooperation to the Bangladesh Investment Development Authority (BIDA) to attract more FDI in the country.
The webinar was organized as part of the Economic Reporters Forum (ERF) Webinar Series in partnership with the Asia Foundation and Research and Policy Integration for Development (RAPID).
As the chief guest, Planning Minister MA Mannan spoke at the Webinar titled-“FDI for Export Diversification and Smooth LDC Graduation” while ERF Vice President Shafiqul Alam was chair.
Chairman of RAPID and Director of Policy Research Institute (PRI) Dr Mohammad Abdur Razzaque made the key-note presentation and ERF general secretary SM Rashidul Islam moderated the function.
MA Mannan said it is a fact that the country does not receive that level of FDI that it needs. “In this regard, all the concerned agencies need to accomplish their tasks in due time to attract more FDI,” he also said, suggesting overcoming the “cultural context” and thus move forward together with modern attitude.
Also read: BIDA, BBF join hands to boost FDI
BIDA Executive Chairman Md Sirazul Islam said BIDA needs to be empowered fully as it still needs to depend on others to facilitate the private sector.
Noting that there is no lacking from BIDA to create enabling environment for attracting more FDI, he added that the Authority has made effective the One Stop Service (OSS) platform to ensure transparent and hassle free service delivery.
Sirazul informed that some 47 services have so far been brought under online while the services of some 16 organizations including BIDA have already come under OSS platform.
Listing various steps of the BIDA to further ease the doing business index, he informed that separate courts would be lunched in Dhaka and Chattogram to speedily resolve the commercial disputes.
“We'll definitely try our best to face the challenges emerging before us. But for that the public and the private sector need to work together,” he said adding that the door of BIDA would always remain open for the private sector.
Sirazul also opined that if the local Investment could be promoted further, there would be more FDI inflow.
He suggested for providing COVID-19 vaccination facility to the legally employed foreigners in Bangladesh to show that Bangladesh values all lives equally and also to send a good signal to the outside world.
Also read: FICCI roundtable upholds importance of FDI to Vision 2041
President of Metropolitan Chamber of Commerce and Industry (MCCI) Barrister Nihad Kabir said the now defunct Board of Investment (BOI) was earlier regarded as the “Dead Stop Service” or ‘Full Stop Service’, but now BIDA has somehow managed to overcome that bad name, but still there is a lot to do.
Expressing her resentment over the treatment of the businessmen in the country, Nihad said if the businessmen are not treated with respect in the country, then the foreign investors would not come to a big extent.
She said although Bangladesh has an extremely courageous leader to run the country, but others are not moving ahead with the same pace that the Prime Minister has.
Nihad also suggested for targeting the potential sectors, adopting a coherent policy strategy by BIDA, signing more Preferential Trade Agreements with potential countries, and thus extending all-out support to BIDA to attract more FDI.
The President of Dhaka Chamber of Commerce and Industry (DCCI) Rizwan Rahman underscored the need for reforming the tax rate as it is still high compared to the global and Asian average.
He also suggested extending the provision for whitening undisclosed money in the health infrastructure, tourism and in economic zones alongside the real estate and capital market, otherwise there would be bubbles in the economy.
Rizwan said that there is much more scope for attracting more FDI in the Blue Economy and education sectors of the country.
He said that if the non-RMG sectors could be nurtured properly apart from the RMG sector, then the country would be able to realize billions of dollars of export earnings.
Also read: Bangladesh seeks increased FDI in economic zones
Citing an example that the Bangladeshi exports earn $1,089 by exporting 1000KGs of tea shirts, whereas the Vietnamese exporters earn $2,157 by exporting the same volume, Syed Nasim Manzur, Managing Director of Apex Footwear Ltd, said “bargaining power’ makes the difference here which needs to be addressed.
He said it is the high time to recapture the Japanese Investment from Myanmar to Bangladesh adding, “This is the chance we must not lose,”
About the taxation system, the country's leading entrepreneur in the footwear sector alleged that taxation system in the country is totally taxpayer unfriendly adding that new entrepreneurs would not come while the existing businesses would not flourish unless the taxation system is reformed.
He also suggested ensuring duty free and quota free access in markets like Japan, EU, India and China by not looking forward only to the market of USA.
Manzur cited huge FDI and Investment potentials in the country's agro processed food, light engineering, non-cotton apparel and home textile sectors for which there is a need for necessary tax reforms.
In his key-note address, Dr Abdur Razzaque said the tax-GDP ratio needs to be revamped in Bangladesh while FDI can create modern job opportunities and bring in new technology and management practices for Bangladesh.
Mentioning that public health expenditure is one of the lowest in Bangladesh, he said this budget needs to be increased while more investment is needed in the education sector.
Mentioning that countries like Vietnam and Indonesia are greatly benefitting from FDI, Razzaque said their good practices can be applied in Bangladesh.
Executive Director of RAPID and Dhaka University Professor of Development Studies Dr M Abu Yusuf and Country Representative of the Asia Foundation Kazi Faisal Bin Seraj gave the welcome addresses.
Trade union policy strategy: 'Both organised, unorganised workers need attention'
Trade union policy strategy should give attention to both organised and unorganised workers amid the pandemic.
Different worker groups, including regular, temporary, and casual workers and small-scale employers – particularly those self-employed and involved in micro, small and medium enterprises; retailing, construction, road, commerce, tourism, and other informal sectors – are still reeling from the Covid-19 shock.
So, effective social dialogues will be the key to the sustainable recovery of the labour market.
Also read: Uncertain, uneven recovery likely amid unprecedented labour market crisis: ILO
The observations emerged from the virtual dialogue on "Recovery of the Labour Market during Covid-19: Role of Trade Union" jointly organised by the Centre for Policy Dialogue (CPD) and Bangladesh Institute of Labour Studies (BILS) on Saturday.
Speaking at the dialogue, Shirin Akhter, member of Parliamentary Standing Committee on Ministry of Primary and Mass Education and also vice-chairman of BILS, called for increasing the number of enlisted organised workers.
"There are many workers in the formal and informal sector in the country. But we do not have a proper list of them yet. We can grasp the overall situation of employers and workers through social dialogues," she said.
Also read: Women need targeted support to tackle COVID-19 impact: CPD Dialogue
Syed Manzur Elahi, former advisor to the Caretaker Government and chairman of Apex Group, said: "There is a communication gap. So, tripartite coordination has to be ensured among the government, factory owners and workers."
Labour Secretary KM Abdus Salam said, "All stakeholders are heard with equal importance and monitoring is taking place regularly through a central monitoring committee."
PM urged to speak for “A Global Regime on Climate Displacement” at Leaders’ Summit on Climate
Climate change experts, policymakers and civil society members on Saturday urged the Prime Minister to speak for “A Global Regime on Climate Displacement” in the upcoming US president hosted Leaders’ Summit on Climate.
They also requested the PM to take a position on 1.5 degree Celsius increase as the target to limit global warming.
They made the plea while addressing a virtual seminar titled “Leaders’ Summit on Climate Change and Civil Society Expectations” jointly organized by COAST Foundation, CSRL (Campaign for Sustainable Rural Livelihood), CLEAN-BD [Coastal Livelihood and Environmental Action Network], BIPNet-CCBD [Bangladesh Indigenous People Network on Climate Change & Biodiversity] and CPRD [Centre for Participatory Research and Development].
Saber Hossain Chowdhury, MP, the Chairman of Parliamentary Standing Committee on Ministry of Forest, Environment and Climate Change took part as the Chief Guest in the virtual seminar cChaired by Dr Qazi Kholiquzzaman Ahmad, Chairman of PKSF (Palli Karma Sahayak Foundation). Rezaul Karim Chowdhury from COAST Foundation moderated the seminar.
Also read: UK lauds Hasina's leadership on climate front
Barrister Shamim Haider Patwary, MP, of Gaibandha-1, Dr. Atiq Rahman, Executive Director-BCAS, Dr. Ainun Nishat, Professor Emeritus BRAC University, Dr. Manjurul Hannan Khan former Additional Secretary, Ministry of EF & CC, Sharif Jamil, General Secretary- BAPA, Md Shamsuddoha, Chief Executive-CPRD, Ziaul Hoque Mukta of CSRL, Mrinal Kanti Tripura, BIPNet-CCBD, Hasan Mehedi of CLEAN-BD and Kawser Rahman- BCJF have participated and spoke in the seminar.
In a keynote presentation, Syed Aminul Hoque of COAST, a national NGO, working in coastal belt, said that US indeed have to show the best example on climate action especially reducing GHG [Green House Gases] emission, financing to the MVCs [Most Vulnerable Countries] adaptation & mitigation effort to take global leadership.
He put some demands those are included that US [United State] will enhance their NDC up to 45 percent from 2010 levels by 2030, reaching the “net zero” by 2050, declare own country share [03 billion] for US$ 100 billion in GCF and promise to facilitate the GCF 50% for adaptation and US self-declaration to relax and ensure IPR [Intellectual Property Rights] Flexibility for Technology transfer to MVCs adaptation & mitigation effort.
In his address, Dr Qazi Kholiquzzaman Ahmad said that as the CVF chair Bangladesh will address their climate vulnerabilities in upcoming Leaders’ Summit, apart we should claim finance & technologies for adaptation, removing GCF procrastination to channelize the fund for MVCs and oppose to include the L&D [Loss & Damage] issues in adaptation related negotiation process under Paris Agreement (PA).
Also read: Hasina's leadership to ‘amplify calls for decisive action’ on climate front
Saber Hossain Chowdhury, MP, said the Biden-called summit is an acid test for USA to facilitate multilateralism in climate action. So that we should take position for 1.5 degree temperature cap for US and other big emitters and it should be under specific target of actions by 2030.
Saber Chowdhur also gives importance to set the peak year period to achieve the target.
Dr. Ainun Nishat opined that Bangladesh may not benefit from dealing with the market mechanism under PA. Rather give attention to finance and climate migration as the US has taken the migration issue seriously, he said.
Dr. Atiq Rahaman criticized US to forget their last four years role and carbon emission and now trying to make window dressing in the name of summit. Ziaul Hoque Mukta demand Separate Regime for Climate displacement. Shamsuddoha and Kawser Ahemed also urged PM role to make CVF as negotiation group in PA implementation process.
Also read: Bangladesh, US to work together to address challenges of climate change
Member of Parliament Barrister Shamim Patwary concerned for extinction due to climatic impact. These issues need to uphold in the Leaders’ Summit. Fund should be placed through multilateral negotiation to ensure our protection. Hasan Mehedi demand urgent action to stop US investors in carbon emitting project investment as they emitting GHG 117 fold higher globally comparing their domestic emission.
Manjurul Hannan opine the developed countries will implement their dirty projects by MVCs in the name emission trading that shouldn’t accepted. So that we should emphasis to enhance their NDCs.
Housewife murdered, family destroyed by wrath of loan shark
A housewife was murdered by an interest trader named Kayesh Talukder at Joinkathi Upazila in Patuakhali on April 9.
The deceased was identified as Purnima.
Moreover, her husband was also forced to flee the village after being tortured by Kayesh Talukder and his men.
According to sources, Purnima's husband Rakhal Bhodro took a loan of Taka 2,35000 from kayesh way back in 2016.
But despite paying back the amount with an 8% interest rate within four years, Kayesh unjustly demanded Rakhal's land as settlement.
Rakhal was forced to write off 51 % of his land to Kayesh and his family members in the face of continued threats.
However, Rakhal was still not spared from Kayesh's wrath. His men abducted Rakhal on last September and brutally tortured him for three straight days in an attempt to displace Rakhal's family from the land.
Also read: Viral: Woman tortured for failing to pay interest on loan
Although Rakhal fled after the incident, Kayesh did not stop. He targeted Purnima.
According to Rakhal's sister Shobha Rani, Kayesh and his men continuously harassed Purnima and made her life a living hell in the last few months.
Purnima used to sleep at different rooms of the house to camouflage herself from the goons.
On the night of the murder, Purnima came back to her room to stop her 2-year old daughter from crying. Later she slept in the middle by keeping her two younger children on both sides.
In the middle of the night, her elder son Akash Bhodro rushed to her room after hearing footsteps and unknown voices only to find the lifeless body of her mother lying down with her clothes wrapped around her neck.
"My mother had bruises on her neck, on her left arm and below the knee," he added.
The mother in law of the victim Sharswati Rani said that she saw 5-6 men fleeing from the house during the night of the incident.
However she could not see their faces as it was dark outside, she added.
Also read: 6 get life imprisonment for Kishoreganj housewife murder
The doctors conducting post mortem on Purnima's body confirmed that she was murdered. However they said that confirmation on whether the victim was raped or not would only be made after further investigation.
Although Kayesh disappeared for a few days following the murder, he again came back to the area and resumed tormenting the victim's family.
Akash, the victim's son has been receiving continuous death threats from Kayesh's goons to stop him from filing a case with the police.
Moreover, Kayesh and his men have put a boundary wall around their land, centering which the murder took place.
However, Kayesh denied the allegations against him to the UNB correspondent. He said that Rakhal wrote off his lands to Kayesh and his family members in a peaceful and legal way.
Despite everything, police did not interrogate anyone over the incident.
When contacted, SI Shamim of the local police station did not want to comment on the incident.
Additional Superintendent of Police Sadar Circle Khan Mohammad Mukit Hasan said that they have not received any complaints regarding the incident.
On the other hand, District Additional Superintendent of Police Mahfuzur Rahman said he had heard about the murder and would investigate it seriously.