United News of Bangladesh

Professor Muhammad Yunus, Chief Adviser of the interim government, called on the country’s garment manufacturers on Wednesday to support the rebuilding of Bangladesh after 15 years of economic plunder under the dictatorship of Sheikh Hasina. Speaking to the leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at the State Guest House Jamuna, Prof Yunus emphasized the challenges inherited by the interim government. “All the institutions were broken. We were in a mess. They left us in an economic crisis. But with the cooperation of everyone we can rebuild the nation,” he said, according to a statement from the Chief Adviser’s Office (CAO). BGMEA acting president Khandoker Rafiqul Islam led the delegation in the meeting, where the Nobel Laureate highlighted the urgency of the situation. The country cannot afford to fail, he said. “Else, its impact will be disastrous. The nation may face an existential crisis,” he warned. Prof Yunus also urged the manufacturers to keep their businesses separate from politics. “You should send a clear signal that you won’t mix business with politics. It does not help any cause,” he advised. Reflecting on the recent student-led revolution, which he described as “unprecedented in human history,” Prof Yunus noted the responsibility placed on the interim government. “They have put their trust in us. I was abroad when they called me and urged me to take up the leadership,” he shared. The BGMEA leaders expressed their full support for Prof Yunus’s leadership during this critical time for the nation. They requested the formation of a task force to address sector-specific challenges, aiming to restore international buyers’ confidence in Bangladesh. Their demands included relaxed debt repayment terms and adjustments to utility bill payments. The Chief Adviser listened to their concerns and promised to address them. “We will ensure transparency at every stage. The Bangladeshi people have immense talents. Bangladesh is the world’s second-largest garment exporter. We want it to grow further,” he stated. After the meeting, BGMEA director Shovon Islam spoke to reporters, expressing optimism about the future under Prof Yunus’s leadership. As Prof Yunus took charge of the interim government, buyers across the globe are gaining confidence in Bangladesh, he said. “We want to utilize that confidence and increase work orders.” He also outlined the short-term and long-term needs of the industry, including the formation of a task force to address ongoing challenges. “We requested him to form a task force with all stakeholders so that it could play a long-term role,” Shovon Islam added. He further mentioned the BGMEA’s need for assistance in securing power and addressing liquidity issues, to which Prof Yunus responded positively. “In reply, the Chief Adviser told us he would help us,” he confirmed.

All the permanent staff of the Bangladesh Energy Regulatory Commission (BERC) have demanded removal of the existing chairman, commissioners and deputed officials from the regulatory body and make the commission a truly independent body to take decisions on fixing the prices of energy products. They also submitted a memorandum to the Chief Advisor of Interim Government to press home their 4-point demand  in line with the spirit of the anti-discrimination movement of the students that had removed the autocratic Awami League government. The demands also include appointment of new chairman and commissioners as per article 7 of the BERC Act 2003 and stopping appointment of top officials through deputation, cancellation of the government’s ordinance and returning the authority to the commission to fix prices of power, gas and other petroleum products, reforming the commission and appointment of capable manpower to protect the interest of the consumers and ensuring regular promotion of the existing permanent employees and officials. The BERC staff said their regular promotions have been stuck up by the appointment of officials through deputation from outside the organizations. They also alleged that the existing chairman and other commissioners who were appointed violating the BERC rules show their voluptuous attitudes in fixing energy prices which made the BERC an ineffective organization. They also threatened to go on strike if their demands are not met by August 15.

Finance and Planning Adviser Dr Salehuddin Ahmed on Wednesday said the prices of daily essentials will come down gradually. “Common people will get relief to some extent. But it can’t be said that the prices will decrease overnight,” he told reporters at the conference room of the Finance Ministry Responding to a question about syndicate in the market, he said, "There is nothing that has not come to our notice, I have some ideas, the governor also knows about it. The secretaries here are also very experienced and I told them that you will tell me everything without fear.” Asked whether any step will be taken about corruption, he said, "There was no discussion on the issue today." Responding to another question he said, “Action against corruption is an ongoing process, some process need to be followed to punish anyone. Some actions have already been taken.” Responding to a question about the specific instructions given today, the Finance Adviser said the Industries and Agriculture ministries will do whatever needs to be done in the field of production, such as fertilizer supply and market management.

Eminent economist Ahsan H Mansur has been appointed as next governor of Bangladesh Bank on Tuesday night, said authority. The Ministry of Finance has issued a gazette notification, signed by Afsana Bilkis, deputy secretary of the ministry, in this regard.  The government has appointed him as per Bangladesh Bank Order, 1972 (President’s Order No.127 of 1972). Earlier, the interim government decided to appoint a new head of the central bank after governor Abdur Rouf Talukder resigned on August 9 in the wake of the fall of Awami League regime amid mass movement. Mansur, 72, is currently the executive director of the Policy Research Institute (PRI), a think tank. Earlier he held various important positions at the International Monetary Fund (IMF). He is well known as an analyst of the country's financial sector.  

No Indian freight trains have entered the Darshana Rail Port in Chuadanga district over the past 20 days as of Tuesday (August 13). This has left port workers, C&F employees, and truck drivers and their assistants from across the country unemployed and idle. According to sources at Darshana Rail Port, the import of all goods through the Darshana rail route from India has been halted since July 24 due to the current situation in the country and concerns from Indian rail authorities about the safety of imported goods and other issues. Atiar Rahman Habu, the General Secretary of the C&F Association and Mayor of Darshana Municipality, along with other concerned parties, expressed concern that if this situation continues, it could lead to a significant reduction in revenue for both countries. The Bangladesh Railway authorities decided to resume freight and local train operations from Tuesday (August 13) under normal circumstances. However, Indian freight trains have yet to enter Darshana International Rail Port, according to station authorities. Mirza Kamrul Islam, Manager of Darshana International Rail Station, stated that despite repeated requests through importers, Indian authorities have not sent any wagons. They have not provided any explanation for the delay. A truck driver named Jamal commented, "We are sitting idle and unemployed. We have no idea when the situation will return to normal." Sushant Chowdhury, Revenue Officer at Darshana Customs, reported that the revenue collection target for the 2023-24 fiscal year was set at BDT 178 crore, but only BDT 34.04 crore has been collected so far, which is significantly below the target. Atiar Rahman Habu emphasized the urgent need for Indian freight wagons to enter Darshana Port for the benefit of revenue collection in both countries. He added that this would allow port workers, drivers, and others to return to work.

Bangladesh Financial Intelligence Unit (BFIU) has ordered the suspension of all bank account transactions linked to former State Minister for Posts, Telecommunications, and Information Technology, Zunaid Ahmed Palak, along with those of his wife, family members, and businesses they own. BFIU’s directive has been sent to all banks and financial institutions, instructing them to halt any transactions from accounts in the names of Zunaid Ahmed Palak, his wife Arifa Jasmin Kanika, their family members, and associated businesses for the next 30 days. This suspension has been enforced under the provisions of the Prevention of Money Laundering Act 2012. BFIU has also instructed banks and financial institutions to provide detailed account information, including the account opening forms, KYC documents, and transaction statements, within three working days from the issuance of the directive.

The government has appointed Dr Sheikh Abdur Rashid, an additional secretary, as the new chairman of the Palli Karma-Sahayak Foundation (PKSF) for the next three years. The Financial Institute Division (FID) issued an office order in this regard on Tuesday (Aug 13). The notification has been sent to relevant government offices, including the Ministry of Public Administration and the Ministry of Finance.

The handling of import-export cargo via courier at Dhaka Customs House has returned to normal after withdrawal of strike by courier service workers at Dhaka Airport . The handling of import-export cargo via courier at Dhaka Customs House had been disrupted due to a work abstention by courier service staff at Dhaka Airport. Their work strike was withdrawn after efforts by BGMEA's Acting President Khondkar Rafiqul Islam, BGMEA's Board of Directors, BGMEA Director Mohiuddin Rubel told UNB.      

Finance and Planning Adviser Dr. Salehuddin Ahmed on Tuesday urged government officials to expedite the completion of ongoing development projects, stressing their critical impact on the country’s economy and its people. “We have talked about the Annual Development Programme (ADP) and its implementation. We asked the concerned authorities to complete the ongoing projects, considering their outcome for the people and economy of the country,” the adviser told reporters following his first meeting with senior officials at the Planning Ministry. Regarding allocation of funds for the ongoing mega projects, he said that he has instructed to place the matters to the appropriate authority. “We will review these accordingly,” he said, adding that wasteful spending must be curtailed, whether it be administrative costs or other expenses. “We must ensure the proper use of funds, whether they come from domestic sources, loans, or grants,” he emphasized, calling for transparency and accountability in procurement processes. Reflecting on the current status of ADP implementation, Dr. Salehuddin acknowledged weaknesses and called for an accelerated approach. “Our ADP implementation is lagging. We have instructed the officials to quicken the process.” He also discouraged assigning multiple projects to a single project director, urging officials to adopt a more efficient and focused work ethic. “We have asked the officials to change their orientation, attitude, and to enhance their efficiency,” he added. Dr. Salehuddin further stressed the need for better coordination in project implementation to avoid delays and financial waste. He announced plans to address supply chain issues in upcoming meetings with concerned officials. On data management, he instructed officials to collect and publish data accurately and promptly. Addressing potential reforms in the financial sector, the adviser said, “We will initiate necessary reforms immediately, including in the banking sector.” He said he will consult with experts to determine the best way forward. Responding to a question about the leadership at Bangladesh Bank, Dr. Salehuddin assured that a new governor would be appointed soon. He dismissed concerns over the central bank’s operations, noting that the economy is not in bad shape; it has merely slowed down due to recent challenges. “Decisions have been taken to accelerate the economy, and there is no vacuum in Bangladesh Bank. The central bank operates under established rules and regulations,” said the former Bangladesh Bank governor. He acknowledged that the country is navigating an extraordinary situation, with the economy having experienced a slowdown, but expressed confidence that the situation is improving. “The economy is already picking up, and essential decisions have been made. I’ve provided directives and engaged with business leaders and commercial bank managing directors,” the adviser said, underscoring that the Bangladesh Bank operates smoothly with or without the governor’s direct involvement. “Operations like RTGS and LC payment don’t need governor’s decision,” the Finance Adviser said.    

Bangladesh Financial Intelligence Unit (BFIU) instructed banks to freeze the accounts of former land minister Saifuzzaman Chowdhury Javed and his wife Rukmila Zaman. The BFIU has also ordered the suspension of transactions, and freezing of the bank account of former state minister for Information and Broadcasting Mohammad Ali Arafat, his wife, and the businesses they own. Separate instructions in this regard have been sent to all banks on Monday (August 12). The BFIU directives stated that if any bank account is operated in the name of Ali Arafat and his wife Sharmin Mushtari and their owned businesses, it is ordered to suspend their transactions for the next 30 days. After former Prime Minister Sheikh Hasina resigned on August 5 and left Bangladesh for India, various measures are being taken against the people holding important positions in her government. Earlier, BFIU froze the accounts of former foreign minister Hasan Mahmud, his wife, and daughter on Sunday.