Rejaul Karim Byron

With the much-talked about Padma bridge project nearing completion as only 11 per cent of the construction work remains, the authorities concerned hope to complete the project within the deadline by June next year.

Just 1 percent of Bangladesh’s population holds 16.3 percent of the total national income in 2021 and the bottom half 17.1 percent, according to a report -- making it a quintessence of poor and unequal country.

The government yesterday gave a big push to its renewable energy and waste-based power generation drive as it approved five projects with a combined electricity production capacity of 223.5 megawatts.

The Executive Committee of the National Economic Council (Ecnec) yesterday approved 10 development projects, half of which were revisions.

The government is set to extend the duration and budget for constructing 560 model mosques-cum-Islamic cultural centres all over the country for the second time by another three years.

The government is undertaking a mega project worth Tk 2,541 crore to create an enabling environment for the digital economy as it gears up for the Fourth Industrial Revolution.

The government is set to introduce an innovative financing model under a new law to enable small businesses and startups to show their moveable assets as collateral with a view to nurturing entrepreneurs and helping them secure loans.

Inflation jumped to a 12-month high in October as elevated levels of commodity costs in the international markets translated into higher consumer prices in Bangladesh, official figures showed yesterday.

Tourism’s contribution to the gross domestic product (GDP) is estimated at 3.02 per cent by the Bangladesh Bureau of Statistics (BBS).

The government is set to undertake a nearly Tk 3,500-crore project to construct an 11-kilometre elevated road over haors in Kishoreganj to connect the northeastern backwater to the mainland.

The outlay for Matarbari coal-fired power plant, one of the mega-projects of the government, is set to increase by 44.1 percent to Tk 51,854.9 crore following the decision to expand the channel to bring in coal.

The government plans to merge development and revenue budgets, amend income tax laws and establish a procurement authority in the next three years as part of a set of reforms aimed at boosting revenue collection and ensuring transparency in expenditure.

The World Bank has projected lower remittance growth for Bangladesh compared to that of India and Pakistan in 2021 due to the slower outmigration of workers who have returned home at the height of the global coronavirus pandemic.

Rice price in Bangladesh has remained at an elevated level despite higher imports in recent months on the back of lower customs duty and reduced price in the international market as well as a record stock in government warehouses.

Global credit ratings agency Fitch said Bangladesh’s economy would grow 7 per cent in the current fiscal year, powered by declining coronavirus infections and easing of supply chain disruptions.

The International Monetary Fund will inquire about Bangladesh’s progress in reforming the local banking and subsidy sectors as well as ongoing vaccination drive as it is set to hold its first dialogue with the government since the coronavirus outbreak.

Power and gas are likely to become pricier next after diesel, kerosene and liquefied petroleum gas as the government looks to calibrate the prices in the local market following a global price spiral since July.

The Asian Infrastructure Investment Bank (AIIB) is set to provide $750 million for vaccine purchase and to help the economy to recover from the fallout of the global coronavirus pandemic.

The economic growth rates posted in recent years were revised downwards but the size of the economy expanded thanks to a new base year adopted by the Bangladesh Bureau of Statistics (BBS).

In 2017, with the view to alleviating the capital’s absurd traffic congestion, the government took up the Dhaka-Ashulia Elevated Expressway project to implement largely with Chinese funding.