special
19,158 citizens contribute Tk 28.67 crore to Universal Pension Scheme in 6 months
The National Pension Authority (NPA) has initiated programmes to raise awareness and attractive offers to increase participation of people from different sectors in the universal pension scheme (UPS).
To this effect, the NPA works on publicity of benefits, easy process of enrollment and return of benefits among expatriates, private sector job holders including private banks employees.
Talking with UNB Md. Golam Mustafa, member (as government representative) of NPA and additional secretary of the finance division, said regarding poor response of people in the scheme, that different developed countries like Japan and Korea introduced universal pension’s scheme in the 1960. After so many years, universal pension has reached a stage in those countries.
“We won't need that much time. We have seen the experience of those countries about universal pensions,” he pointed out.
They said, “In the beginning they also faced various problems like us. I believe we will succeed in universal pension much earlier than those countries.”
He said that 19,158 people have contributed to UPS in about 6 months and around Tk28. 67 crore deposited in the fund so far.
Golam Mustafa said that the NPA is very much conscious of protecting people's deposits. The government cannot take any loan from this fund.
Rather, “We invest in treasury bills and bonds, so that the income in the investment in bills and bonds is guaranteed. As a result there will be no apprehension among people about this fund.”
For the first time in its history, Bangladesh on August 17, 2023 entered the era of a much-hyped uniform pension scheme. The initiative is meant for the entire population of the country aged above 18, who will start enjoying lifetime pension facilities upon turning 60.
Economists say that a large portion of the population of the country is still not aware of this financial protection. This is why the NPA wants to make it easier for expatriates to participate. Besides, attractive initiatives are being taken to promote UPS among the people of the country.
Bangladesh Bank (BB) has instructed the managing directors (MDs) and Chief Executive Officer (CEOs) of scheduled banks to encourage the employees of private banks to join the pension scheme.
As part of new initiatives for the implementation of the national pension scheme, the Banking Regulations and Policy Department of BB gave this instruction on February 8. A letter in this regard has been sent to the MDs of all banks for execution of the initiative.
According to the directive, the government wants to include people from all walks of life in a sustainable and well-organized social security circle. To fulfill this objective of the government, the officers and employees of banks other than state-owned commercial banks and specialized banks can participate in the universal pension scheme.
Therefore, Bangladesh Bank has given instructions that MDs of private banks should take necessary measures to motivate them.
Besides, the NPA has recommended withdrawal of tax and excise duty at source of bank account in public pension scheme. Recently, a letter regarding this has been sent from the Ministry of Finance to the National Board of Revenue (NBR).
The letter said that on October 31, 2023 a notification was issued to provide tax concessions on investment in pension scheme contributions and tax exemption on pension income.
At this stage it is necessary to waive tax and excise duty at source in bank accounts of public pension schemes managed by the NPA in state-owned and commercial banks. Currently excise duty is deducted as per bank account status irrespective of individual, company and other funds.
Economist Dr. ABM Mirza Azizul Islam told UNB that due to lack of trust among the people and lack of institutional good governance are blamed for this poor response in the pension scheme.
He said people are still not aware of where the pension scheme money will be invested, how they will profit or incur losses.
Dr Ahsan H. Mansur, Executive Director of PRI (Policy Research Institute) said that from the experience of different countries in the world, people's confidence in such schemes increases with time.
“They also have good institutional governance that is lacking here. So only time will tell what will happen to this scheme in the coming days,” he pointed out.
Industries in Dhaka, Gazipur, N'ganj still reeling from acute gas crisis despite Titas claims of improvement
Industries in Dhaka, Gazipur and Narayanganj continue to be afflicted by an acute gas crisis, even though Titas Gas Transmission and Distribution Company, the state-owned distributor of natural gas, claims the situation has improved.
As reported in the media previously, garments and textiles firms in the industrial belt of these central districts have been suffering from an acute gas crisis for the last few months.
“The factories are in dire straits,” a top top-level manager of a group of textile factories in Gazipur told UNB.
Most of the industries in Gazipur do not get adequate supply of gas during their operational periods, the most crucial hours during which their machines need to be running. Inadequate supply manifests in the form of low pressure gas flow, he added.
FBCCI urges for strengthening oil, gas exploration to ensure uninterrupted supply to industries
Low pressure gas flow is akin to low voltage electricity - many appliances won't run, even though an electric charge is present.
The textiles group official said that due to the lack of gas supply, production in various factories is being disrupted and they are on the verge of shutting down.
In the ongoing gas crisis, important machines like generators and broilers in the dyeing section of the factories are not being run. This has been posing a great risk for the industries to continue their production and pushing them towards huge financial losses.
“Many industries would not be able to pay the salaries and festival bonuses during the coming Eid if the situation does not improve,” said an industry owner.
Industry insiders said there are more than 300 factories in Kaliakoir and other areas in Gazipur.
All these industries have been suffering from the nagging gas crisis and some of them have already suspended their productions.
100% percent prepaid gas meters within four years: Nasrul Hamid
Each of the industries has more than 1000 workers. But following the gas crisis, they have to reduce their production target while some of them use CNG at a higher cost to continue their operations.
A similar situation is prevailing in the Mirpur, Tongi and Narayanganj areas, said Mohammad Hatem, Executive President, of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
He said that despite increasing the price, the government is not able to provide adequate gas.
“Production in garment factories has come down to half due to non-availability of gas. Many buyers meanwhile are pushing for air shipments as the normal schedule for shipments has failed in keeping the commitment,” he said adding, some buyers are asking for discounts on the rates.
More gas likely to be found in Sylhet’s Kailashtila field: Nasrul
“Some customers are upset and cancel the order in such a situation,” he noted.
Recently the Bangladesh Chamber of Industries (BCI) has also alleged that no industry in the country is able to run at its full potential due to the gas crisis.
A Bangladesh Chamber Of Industries delegation, led by its president Anwar-ul Alam Chowdhury (Parvez), raised the allegation when it met Industries Minister Nurul Majid Mahmud Humayun at his ministry office.
The lone chamber for industries said the prices of electricity and gas were increased on the pretext of increasing prices on the international market in the hope that the government would ensure their continuous supply.
“But despite the declining trend of energy prices in the international market, it is being heard that the prices of electricity and gas will be increased again,” BCI said in a statement.
Read more: Govt okays import of LNG cargo from Singaporean firm to meet gas demand
It demands for a sustainable solution to the problem. “If a long term plan is given to the industrial sector in terms of power and gas supply, it can move forward accordingly."
Titas Gas general manager Arpana Islam admitted the gas crisis. But she claimed that the situation has improved to some extent recently following measures to increase the gas supply.
She advised to talk to Petrobangla when asked whether there is any possibility in near future to further improve the gas supply situation.
Petrobangla official statistics reveal that in the last one month the total gas supply across the country has increased by just 100 million cubic feet per day (MMCFD) or so, leaving a deficit between production and supply of about 1500 mmcfd.
The Petrobangla data shows that on February 16 it produced 2671 mmcfd gas including its import from abroad against a demand for more than 4000 mmcfd.
The TItas Gas data also shows that about 30 power plants now remained out of operation due to gas shortage.
Read more: BNP denounces move to double monthly rent for prepaid gas meters
Coloured cauliflower cultivation gains round in Naogaon
The cultivation of coloured cauliflower has been gaining popularity among farmers in Naogaon as it is easy to grow and they earn good profit at low cost.
Cultivating yellow and purple cauliflower successfully Jalal Hossain, a farmer of Kasba village under Hafania union of the district’s Sadar upazila, has created enthusiasm among other farmers who are thronging to his land to know about the cultivation process.
Jalal said he received training on its cultivation from non-governmental organization(NGO) "Moushumi" last year.
“Inspired by the cultivation of coloured cauliflower in a video footage during the training, I had bought 1,000 saplings with the assistance of the NGO and planted them on the land,” he said.
Ranisankail farmers find fortune in cauliflower cultivation
“Many people were saying that this cauliflower would not grow well in this area. They said who will buy it if tastes bad but I didn't lose hop,” the farmer said.
He said he was adamant about selling the vegetable in the market. “I have received huge response buyers and farmers after success in coloured cauliflower cultivationand I have been able to earn profit. I have cultivated two types of cauliflower on 12 decimals of land.”
It cost me about Tk 8000 for cultivation and now selling each piece at Tk 40-50 with a turnover of Tk 20,000 so far, he said.
He hoped that he would be able to earn Tk 25, 000 more from the sale of the rest of the cauliflower.
Early winter vegetables come as blessings for Jashore farmers
Department of Agricultural Extension (DAE) officials said colourful cauliflower is consumed as salad in China and it has more nutritional value and demand than the white one.
Farmers can make profit by cultivating it with less cost and labour. Organic fertilisers and pheromone traps are used instead of chemical fertilisers and pesticides for its cultivation, they said.
This variety of vegetable can be harvested within 70 to 80 days of planting and each weighs about two kilograms.
The UNB correspondent talked to some local people- Mokhlesur, Asaduzzaman, Selina and Morsheda- who went to the cropland of Jalal to see and buy colourful cauliflower.Mahmudul Hasan Arif, agriculture officer of the NGO ‘Moushumi’, said under high yielding and high value new crops exhibition, 'yellow coloured ‘valentena’ variety and purple ‘carotena’ variety cauliflower were showcased.
Read more: Apiculture in mustard field bring smile to Thakurgaon farmers
Due to the success, the vegetable will be cultivated extensively in this region in the future, he hoped, he said adding farmer Jalal cultivated this cauliflower for the first time in the district.
District DAE’s Agronomist Abul Kalam Azad told UNB that the first time cultivation by farmer Jalal will encourage other farmers in the district.
Such colourful cauliflower contains vitamin A and B and beta carotene, folic acid, magnesium, manganese and antioxidants which has many health benifits.
A white cauliflower is sold at Tk 20 to 30 per piece whereas the yellow and purple ones are sold at Tk 40 to 50, he said, hoping that its cultivation will increase a lot in future.
Read more: Chapainawabganj farmers set to surpass Boro rice production targets
Sundarbans Day: World's largest mangrove forest draws growing number of tourists
The Sundarbans, the world's largest mangrove forest, has become a hub of activity, drawing nature enthusiasts from around the globe with its stunning landscapes and diverse wildlife. This natural wonder is not only a key tourist attraction but also plays a vital role in promoting environmental conservation and boosting local revenue.
During the prime visiting months from October to February, the Sundarbans offers visitors cool river waters and pleasant weather, making it an ideal destination for exploring its unique ecosystem. Recent statistics reveal a significant uptick in tourism, with 216,143 visitors, including 2,143 international guests, in the fiscal year 2022-2023, generating Tk 3.94 crore in revenue for the government. This marks a notable increase from previous years, highlighting the forest's growing appeal and importance to Bangladesh's economy.
According to data collected from the local forest office, the number of tourists was 1,89,570 in the fiscal year 2018-2019 and of them, 2,261 came from other countries. The government earned Tk 1.51 crore during this period.
Read: Sundarbans Day in southwestern region on Feb 14; a clarion call to love, save the forest
In the fiscal year, 2019-2020, the number of tourists was 1,72,979. Of them 2,317 came from overseas. A total of Tk 1.87 crore was collected as revenue during this period.
Chapainawabganj farmers set to surpass Boro rice production targets
Farmers in the Chapainawabganj district are poised to surpass their production targets for boro rice this year, aiming to harvest 253,780 metric tonnes, thanks to a surge in interest spurred by last season's bumper yield.
The Department of Agriculture Extension (DAE) has outlined an ambitious plan to cultivate boro rice across 52,200 hectares of land. The cultivation efforts are distributed across various upazilas, with 13,220 hectares in Sadar, 15,720 in Gomastapur, 6,250 in Bholahat, 9,680 in Nachole, and 7,330 hectares in Shibganj.
Farmers like Kawsar Ali from Sadar upazila are busy preparing their fields and sowing boro seeds. Ali, who has dedicated eight bighas of land to boro cultivation, noted the rising costs of production, attributing them to increased labor and irrigation expenses. Similarly, Mayez Uddin pointed out the hike in land plowing costs from Tk 300 to Tk 350, alongside rising labor charges.
Govt to provide Tk 108 crore as incentive to boost Boro production: Ministry
Paddy workers, enduring the winter chill to plant boro, like Madan, highlighted that the current rate of Tk 500 for planting helps cover their household expenses despite the hard work.
Dr. Palash Sarkar, Deputy Director of DAE, remains optimistic about this year's prospects. He mentioned the widespread adoption of the Ufsi boro variety, ensuring there's no shortage of seeds or fertilizers. Furthermore, irrigation has been smooth due to reliable power supply, and farmers have received all necessary guidance from agricultural officials.
With these favorable conditions, Dr. Sarkar anticipates that the boro rice production target will not only be met but exceeded, signaling a successful and productive season ahead for the farmers of Chapainawabganj.
Half of Boro paddy procurement target not achieved yet, Food Minister tells JS
Govt in dilemma over raising power tariff or floating more bonds to cut losses
The government of Bangladesh is caught up in a dilemma in choosing the right option to reduce the gap between the cost of power production and revenues generated from sales.
“Top policymakers are divided over whether the government should go for increasing the power tariff further or issuing more bonds through the banking system,” said a top official at the state-owned Bangladesh Power Development Board (BPDB).
He said if the government wants to raise the power tariff, either it has to do it before Ramadan or after Ramadan - these are the questions almost every day that are being discussed at the policy level.
They are also analysing the impacts of floating more bonds to reduce the burden of soaring losses on the part of BPDB, he added.
Read: Retail power tariff hiked 5% to Tk0.19 per unit for lifeline consumers, Tk0.36 on average for others
According to official sources, currently, the production of each unit of electricity costs about Tk 12 while it sells at a rate of about Tk 6.7.
It means the government has to bear the brunt of Tk 5.3 per unit, a top BPDB official told UNB.
The BPDB’s Annual Report 2022-23 shows, the BPDB, as a single buyer, generated 87,024 million kilowatt hours of electricity in 2022-23 fiscal at a total cost of TK 98,646.42 crore.
Its per unit production cost was at Tk 11.33 while it was selling electricity at Tk 6.7 per unit incurring a loss of about Tk 4.63 per unit.
The bulk tariff was last raised by 8.06 percent to Tk 6.70 from Tk 6.20 per unit on January 31 with effect from February 2023.
Read more: Over 10,000MW power in 29 projects in the pipeline, despite yawning overcapacity
Against this, its revenues were Tk 50,858.25 crore, incurring a loss of Tk 47,788.17 crore, showed the BPDB Annual Report.
With this huge loss, the government has been in great trouble as it has to purchase electricity worth Tk 82,778.25 from private sector power producers while it generates electricity worth Tk 13,306.62 crore from its own generation plants.
The annual report also shows that the BPDB’s average per unit production cost from its own plants is Tk 7.63, while it is Tk 14.62 at the independent power producers or IPPs (private sector), at rental plants Tk 12.53, at public plants Tk 6.85 and imported power from India at Tk 8.77.
The government purchases electricity from the private sector and India in dollars.
Read more: Power generation capacity increased by almost 20% to cross 30,000MW in 2023
According to official sources, the government's cumulative outstanding bills have now jumped to about $5 billion, of which the backlog amount in the power sector is about $4 billion (about Tk 43,093 crore), and the remaining $1 billion is in the energy sector.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid also admitted the severity of the crisis.
“Actually the crisis is not of local currency. Somehow we can manage it. But the main crisis is the dollar. We’re not getting dollars from Bangladesh Bank as per our needs,” he recently told UNB.
He noted that the power and energy sectors need at least $1 billion a month to meet payment obligations.
Read: Govt to raise retail power tariff this month
In such a situation, the government recently introduced a number of bonds through Bangladesh Bank to facilitate the BPDB to clear some dues.
“Initially, we have floated bonds worth Tk 5000 crore and it may go up to Tk 12,000 crore,” said a BPDB official on condition of anonymity, adding that it will not be enough to cover the losses, although the government is providing subsidies on a regular basis.
“That’s why the government will have to go for raising power tariff further or introducing more bonds,” he said adding, if more bonds are floated, it may squeeze the private sector’s credit from the banking sector.
But a final decision on what they would do still remains pending.
Read more: Power, energy sectors are saddled with $5 billion outstanding payment amid dollar crisis: Sources
Sundarbans Day in southwestern region on Feb 14; a clarion call to love, save the forest
Although February 14 is celebrated as Valentine's Day, the people of the coastal areas of the Sundarbans celebrate the day as 'Sundarbans Day' with a call to come forward for protecting the forest and mitigating the impacts of climate change on the Unesco World Heritage Site.
Sundarbans, the land of mangrove and Royal Bengal Tiger, is facing the impacts climate change which is affecting nature-dependent livelihoods, health, and nutrition of nearby communities.
The day has been celebrated for two decades in the coastal southwestern region including Khulna to raise awareness among people about the need of conserving the Sundarbans.
On February 14, 2001, under the Bangladesh Poribesh Andolan, Khulna University and 70 other environmental organizations of the country declared February 14 as 'Sundarbans Day' and celebrate it every year.
Read more: Wood collectors losing interest in Golpata collection in Sundarbans amid falling demand
Taking to UNB, Professor Rafiqul Islam, a resident of Paikgachha upazila adjacent to the Sundarbans, said, "The Sundarbans is vital for our survival. The Sundarbans is the lungs of South Asia. If we do not take proper initiatives to protect it, our country will face a great disaster. So first of all you have to love the Sundarbans. February 14 is the Sundarbans Day for us. “
Bidesh Ranjan Mridha, president of Koyra Unnayan Sangram Coordination Committee, said, "On February 14, we want to inspire the coastal people to love the Sundarbans. Many people do not understand what damages are being done to the Sundarbans. Nature in the forest is changing due to the rise in the salinity level.”
“Sundari tree, one of the most extensively found mangrove species in the Sundarbans, is disappearing fast. Goran, Gewa, Keora are growing there. The nature of water and soil of the Sundarbans has changed. If there was no Sundarbans, Koyra upazila would have been vanished by the cyclones, “ he added.
Keramat Mawla, a former member of Mahisharipur union adjacent to the Sundarbans, said, "Now fish are not found in the river next to our Sundarbans. Profit mongers are killing animals with poison to destroy the Sundarbans. The number of deer is also shrinking. Golpata collectors cut thousands of maunds of leaves with a permit of 500 maunds. We want to make local residents aware of these issues on Sundarbans Day.”
Read: Jashore flower growers eye Tk 70 cr sale in the month of language, Falgun, Valentine’s Day
Jashore flower growers eye Tk 70 cr sale in the month of language, Falgun, Valentine’s Day
The flower growers and traders of Jashore’s Jhikargaccha upazila, one of the largest flower markets of Bangladesh, expect to sell flowers worth Tk 70 crore in the month of February as flower is a must-have in the celebration Pahela Falgun, Valentines’ Day and observance of Amar Ekushey.
Flower growers are passing a busy day in nurturing their flowers ahead of the three events in the country.
They also hope that that they will be able to sell flowers worth Tk 100 crore ahead of Pahela Falgun and Valentines’ Day on February 14, International Mother Language Day on February 21, Bangabandhu’s Birth Anniversary on March 17, Independence Day on March 26 Pahela Baishakh on April 14.
Gadkhali and Panisara areas of Jhikargachha upazila have taken a colorful look with flowers everywhere where the farmers are nurturing their flowers to catch the markets.
Read: Best Valentine's Day Destinations: 10 Stunning Resorts Around Dhaka
Different species of flowers including rose, jarbera, gladiolus, tube-rose, marigold, lilium, gypsy, chandramallika are cultivated in Jashore.
Pervez, a flower grower of Syedpara in the upazila, said he brought five bighas of land under marigold cultivation and two bighas under tube-rose cultivation. “Now I am spending busy time nurturing my flowers as I have to catch the flower markets. I also used vitamins and pesticides in my flower garden to keep these free from pest attack,” he said.
Qurban Ali, another flower grower of Panisara village, said “I have brought over two bighas of land under rose cultivation. The demand for roses increased on Valentine's Day. There are new buds on the rose plants now. I am spraying vitamins so that they are not damaged. The price of flowers will increase before Valentine's Day, I hope.”
Already one stick of rose is being sold at Tk 25-30 per piece at retail level, he said.
At retail level, Jerbera is being sold at Tk 8-10 per piece, rose at Tk 15-16 per piece, gladiolus at Tk 15-17 per piece, tube-rose at Tk 12, 1000 pieces merigold at Tk 200-250, gypsy Tk 10 per piece, 100 pieces chandramallika at Tk 500, china rose at Tk 25-26 per piece, but the price of flowers will increase three times ahead of the festivals, he said.
Read more: A festival of flowers in Chattogram
Surge in fatalities at unauthorized rail crossing in Feni: 8 dead in 4 months
In Feni, a concerning rise in accidents at rail tracks, especially at unauthorized level crossings, has led to eight fatalities and numerous injuries over the past four months. These incidents, often resulting from a combination of unauthorized crossings, gateman negligence, and the public's lack of awareness, underscore the urgent need for improved railway safety measures.
Swapna Rani Debi, a 42-year-old land deed writer, tragically lost her life under a train while navigating the level crossing at Shahdadpur, highlighting the grave risks associated with these crossings. The Feni railway sector, stretching 27 kms from Sashardi to Muhuriganj, comprises 22 authorized and 12 unauthorized crossings, with a significant concentration of the latter at Muhuriganj.
Riton Chakma, deputy assistant engineer of Railway’s East region, said, “Roads are being built over the level crossing and six unauthorized level-crossings are in Muhuriganj point alone while six others are in Sashardi, Dewanganj and Fazilpur points.”
Barendra Express train narrowly escapes accident; rail link with Rajshahi suspended
Despite efforts to close these unauthorized paths, locals continue to create new routes, often leading to disastrous outcomes.
Feni Barahipur level crossing gateman, Jibon, noted that despite lowering gates upon receiving signals, impatience and reckless attempts to cross the tracks contribute significantly to the accidents.
Feni Rail Station Master Md Harun attributes the proliferation of unauthorized crossings to residential developments along the railway, exacerbating the risk of trackside fatalities.
In addition to Swapna Rani Debi, the past four months have seen the deaths of Farida Yeasmin, Md Rubel, Md Sharif, and Shahidul Islam on the Dhaka-Chattogram rail track in Feni, with three other victims remaining unidentified.
The issue was starkly highlighted on October 11, 2022, when a train collided with a bus at the Fatehpur level crossing on the Dhaka-Chattogram highway, resulting in four deaths.
Rail communications on new Cox’s Bazar route snapped following collision
The Railway Division reports that Feni hosts 34 level crossings, with 22 authorized and managed by 56 gatemen. Deputy Assistant Engineer Riton Chakma of the Railway East region has pledged phased initiatives to secure the 12 unauthorized crossings.
Shahadat Hossain, general secretary of Shushashoner Jonno Nagorik (Shujan), identifies the main causes of the increased fatalities as unauthorized construction of crossings, lack of public and driver awareness, and gateman negligence. This alarming trend calls for immediate action to enhance safety and awareness at rail crossings.
Apiculture in mustard field bring smile to Thakurgaon farmers
Mustard cultivation has been rising in Thakugaon like many other areas of the country as it is profitable both for farmers and honey collectors.
Honey collectors set up boxes in the mustard lands to extract honey as the yellow colour of mustard attracts the bees.
Thousands of bees collect pollen and nectar from mustard flowers which help its proper pollination, boosting the mustard yield.
During a recent visit to the mustard fields, this correspondent found a vast tract of field has turned yellow with mustard flowers and many youths are collecting honey by keeping boxes beside those fields.
Sirajul Islam, deputy director of Thakurgaon Department of Agriculture Extension (DAE), said this year, a total of 19,790 hectares of land have been brought under mustard cultivation.
The farmers are bringing their lands under mustard cultivation following a huge demand of mustard oil which can be extracted from the seeds of mustard.
A total of 6,940 hectares of land have been brought under mustard cultivation in Ranishankail upazila alone.
During winter,honey collectors contacted the mustard farmers each year and set up their wax boxes adjacent to the field.
Nazrul Islam, a beekeeper, said “Bee helps to boost the yield of mustard and so is profitable for mustard growers and beekeepers. 6-7 days are needed to fill each box with honey.”
Faridpur farmers anticipate impressive mustard yield worth Tk 151.38 crore