Decent GDP growth amid extraordinary circumstances
In the end, the final data from state-run Bangladesh Bureau of Statistics (BBS) shows the economy grew at a respectable 5.2 per cent last fiscal year, when large swathes of the global economy plunged into recession for the outbreak of coronavirus from Wuhan, China.
11 August 2020
Trade with Nepal to get a leg-up after govt approves a new transit route
The government yesterday included a rail route in the Bangladesh-Nepal’s existing transit agreement to give a much-needed boost to bilateral trade by cutting distance.
10 August 2020
Pandemic derailed development works. Planning minister is buckling down to get it back on track
The government has decided to prepare a roadmap to ensure full implementation of the annual development programme this fiscal year after development expenditure fell to a 27-year low in fiscal 2019-20.
9 August 2020
Govt rallying behind off-colour Navana Group
A silver lining seems to have appeared in front of Navana Group at last.
8 August 2020
Dhaka gets first tranche of $1b Japanese loan
Bangladesh yesterday got the first tranche of the $1 billion loan pledged by Japan to bounce back from economic whiplash brought on by the global coronavirus pandemic.
5 August 2020
Tax cheats can whiten money until Nov 30
Amnesty to black money has always been a nonstarter, so Finance Minister AHM Mustafa Kamal’s move to tuck in the facility with added benefits in this fiscal year’s budget has left many scratching their heads.
4 August 2020
Not a frenzied day for banks before they broke for Eid holidays
Banks came under milder than usual strong fund withdrawal pressure ahead of Eid-ul-Azha this year because of the coronavirus pandemic, countrywide floods and job and income losses.
30 July 2020
NBR to make all-out effort to make amnesty to black money a success this time
The government is set to make an all-out effort from next month to generate an increased amount of revenue from the legalisation of untaxed money as it needs the sum to kickstart the coronavirus-ravaged economy.
29 July 2020
Two projects for the poor see their allocations slashed
Irregularities and apathy have become a permanent feature of project implementation in Bangladesh, thanks to which no infrastructure is ever ready on time.
28 July 2020
Indian transhipped goods to pay Tk 2 a tonne in road fee
Dhaka has decided to charge Tk 2 per tonne per kilometre in road usage fees for Indian goods that would be transshipped using Bangladesh’s territory, officials said.
27 July 2020
Lifting private investment would be a tall order
The government is aiming to lift private investment to GDP ratio to a record 25.3 per cent this fiscal year although the coronavirus-induced uncertainty showed no signs of abating and structural challenges are largely unaddressed.
26 July 2020
6.53cr Bangladeshis need assistance: UN
Nearly 6.53 crore poor people in Bangladesh should receive time-bound temporary cash payments to cope with the worst impacts of Covid-19 pandemic, according to the United Nations.
24 July 2020
Budget deficit to go through the roof
Bangladesh’s budget deficit may shoot to as high as 10 per cent of the GDP in the current fiscal year as the government would have to keep spending more to tackle the brunt of the coronavirus pandemic amid a drastic fall in revenue generation, the World Bank said.
23 July 2020
Govt makes setting up single-member companies easier
The government has brought in a major amendment to the Companies Act allowing setting up of single-member companies, a move that is expected to give a boost to entrepreneurship, draw investors and support the growth of SMEs.
22 July 2020
Revenue collection did not stutter badly last fiscal year as feared
The two-and-half-month-long countrywide general shutdown was supposed to cause a massive dent to the state’s coffer as the economic locomotive was effectively chained to its track in the station.
21 July 2020
Foreign aid use hops over to a new high
Foreign aid disbursement rose more than 28 per cent to $8 billion in the just-concluded fiscal year riding on the increased flow of budget support from development lenders to help Bangladesh ride out the coronavirus pandemic.
20 July 2020
Govt cuts back on travel expenses to free up funds for priority sectors
The government has gone one step further to tighten its belt amid drying up of revenues as it suspended 50 per cent budgetary allocation for the expenses for both foreign and local tours of officials and banned all routine travels.
19 July 2020
Apparel-makers pursue another round of low-cost loans
Pandemic-hit apparel exporters have sought continuation of low-cost loans from the government for three more months to help them pay wages to workers as the sector is struggling to stay afloat.
16 July 2020
Tk 40,000cr low-priority projects to be pushed back
The government has decided to put a hold on the implementation of low-priority development projects involving Tk 40,000 crore to free up funds for the productive sectors amid widening revenue shortfall.
15 July 2020
Farm mechanisation gets a big push from govt
The government yesterday approved a Tk 3,020 crore project -- the biggest ever scheme for farm sector -- to provide price support to farmers in purchasing agricultural machinery.
14 July 2020