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Officials at the Finance Division said it was a gross violation of the public Moneys and Budget Management Act 2009 and no capital expenditure fund can be diverted for revenue expenditure
He also said the Padma bridge fund would not be of any use this year as the main physical development of the Padma bridge project may not start before the end of the fiscal year. As per provisions 14 (1) and (2) of the Public Moneys and Budget Management Act 2009, without the approval of the parliament and prior endorsement of the Finance Division, no capital expenditure fund can be diverted for revenue expenditure. Officials at the Finance Division said it was a gross violation of the act to divert the Padma bridge funds for the payment of dearness allowances. Sources in the Budget Division said the size of the 20% dearness allowanc-
ACC to probe illegal wealth of ex-judge Motahar n Syed Samiul Basher Anik
The Anti-Corruption Commission began an enquiry into illegal wealth of retired special judge Motahar Hossain who had acquitted BNP Senior Vice-chairman Tarique Rahman from a money laundering case. The commission launched the probe following an allegation, scrutinised by three-member ACC team, that found evidences of irregularity, ACC Commissioner M Shahabuddin yesterday told reporters. The investigation team requested the commissioner concerned to approve the enquiry against the judge. The allegations brought against him are laundering money, amassing illegal wealth beyond known sources of income and abuse of his judicial power, the commissioner said.
PAGE 2 COLUMN 4
A woman walks down the railway track listening to music with earphones stuffed into her ears, completely oblivious to any approaching train. The photo was taken from Karwan Bazar yesterday SYED ZAKIR HOSSAIN
INSIDE
Business
B1 Negligible presence of foreign visitors-cum-buyers has utterly frustrated the export-oriented manufacturers who are exhibiting products at the Dhaka International Trade Fair that began on January 11.
International
8 Former international prosecutors said Tuesday they have evidence from a defector proving that the regime of Syrian President Bashar al-Assad has systematically killed and tortured around 11,000 people.
It is difficult to believe that our law enforcers have conducted such violent drives against their own countrymen.
The joint forces comprise members from the Border Guard Bangladesh and the police, and sometimes the Rapid Action Battalion. While addressing the party rally, Khaleda said: It is difficult to believe that our law enforcers have conducted such violent drives against their own countrymen. She hinted the involvement of outsiders with the joint forces operation in Satkhira district. After the daily newspaper published the report, quoting little-known on-
DHAKA TRIBUNE
News
General Secretary of the Awami League Syed Ashraful Islam speaks at a press conference at the partys Dhanmondi office yesterday
RAJIB DHAR
Upazila polls: AL opts for single candidate EC to rule out loan defaulters for upazila poll
n Emran Hossain Shaikh
The ruling Awami League has asked the party grassroots to support single candidate in the upcoming upazila parishad elections. The instruction was given through a letter signed by General Secretary Syed Ashraful Islam to the presidents and secretaries of district units, party insiders confirmed to the Dhaka Tribune. The letters could be sent today. The Election Commission has declared schedule for polls in 102 upazilas on February 19. Sources said the grassroots leaders had been asked to choose party candidates through joint meetings of the districts committee with the presidents and secretaries of ward, union and upazila units. Organising Secretary Khalid Mahmud Chowdhury told the Dhaka Tribune that as a local-body election, there was no scope for a party to interfere officially. He said the partys central committee had decided to support a single candidate in each upazila parishad. Khalid, however, said he was not aware of issuance of letters. Sources said the last working committee meeting, headed by party President Sheikh Hasina, made the decision on January 18. l
n Mohammad Zakaria
The Election Commission has sought a list of the loan defaulters from the financial division of the Bangladesh Bank prior to the upazila parishad poll slated for February 19. EC officials said the commission sought the information as the loan defaulters would not be allowed to take part in the poll. Signed by EC Secretary Muhammed
Sadique, the commission yesterday sent the letter to the Credit Information Bureau of Bangladesh Bank requesting to send the list to the returning officers. Upon receiving the information, the returning officers would cancel nominations of those found to be defaulters. The EC also sent a letter to the Ministry of Local Government, Rural Development and Cooperatives, directing them not to take up any development
project in their respective areas until completion of the poll. It also sent a letter to the Home Ministry to take preparation for ensuring security during the poll, keeping the law enforcers on alert. The commission sent a letter to the public administration and the cabinet division asking for sufficient manpower to hold the polls and not to reshuffle posts under the administration ahead of the poll. l
Tarique may get bail after surrender n Tribune Report n Rabiul Islam Two people were killed in Jhenaidah
BNP Senior Vice-Chairman Tarique Rahman can secure bail if he surrenders to the trial court in the money laundering case following the High Court order. Law Minister Anisul Haque said this while answering queries of reporters about brining Tarique Rahman from the United Kingdom. The law minister was talking to reporters after the meeting with British High Commissioner to Bangladesh Robert Gibson at his office at secretariat yesterday. It is Tariques own matter if he will surrender but as part of legal process he can get bail after surrendering to the trial court, Anisul said. On Sunday, the HC ordered Tarique to surrender before the Dhaka court that acquitted him in a Tk20 crore money laundering case. The HC bench of Justice Nizamul Huq and Justice Jahangir Hossain passed the order accepting the appeal for hearing filed on December 5 by the Anti-Corruption Commission for convicting Tarique. The bench also directed the trial court to release Tarique after his surrender subject to its own satisfaction. l
areas, EC officials said. They also said BGB and Coast Guard will be deployed for five days and Rab and armed police battalion will be deployed for seven days in the upazila polls. The commission has decided to hold the 487 upazila parishads polls in phases across the country. The first phase of the election, at 102 upazilas, will be held on February 19. Election Commissioner Md Shah Newaz yesterday said the commission may announce the schedule for the second phase of upazila parishads tomorrow. EC sources said the chief election commissioner would announce the schedule of the second phase of the upazila polls after the meeting with the law enforcement agencies. Shah Newaz said the commission would set up polling centres for holding the upazila polls at the same venues that were used in the 10th parliamentary polls. l
the BNP has to shun violence and cut its tie with the Jamaat. By holding rally alone yesterday we have showed our positive gesture and now the government has to respond positively. We are planning to hold January 29 programme alone too, he said. The BNP leader also said: If you listen to the speech carefully you will see
the party chairperson stressed on the word peaceful and expressed eagerness for talks. The BNP has already backtracked from announcing any tough programme like hartal and blockade and decided to go for soft programmes in the coming months like demonstrations and meetings and hinted at rallies in districts across the country, said party insiders.
Prosecutor Mohammad Ali answered in the affirmative: Maybe we need to argue again before the new tribunal. When asked about formation of the new tribunal, he said: We may get a new chairman this week. About re-hearing in Nizami case, prosecutor Tureen Afroz said: A new judge may invite new arguments but it is not mandatory. Defence counsel Tajul Islam claimed that the new chairman should hear both parties as he has to take part in the judgement. Meanwhile, the prosecution thinks some rearrangement may happen in their team as some prosecutors has no work to do.
Source said it could not be confirmed who would get the chance to continue and who not. Those who have not conducted any case may be dropped. Currently, there are 22 prosecutors for the six cases at the two tribunals. The team conducted the Nizami trial now has no work and it maybe reshuffled. Sources said some prosecutors had not conducted any case since the formation of the tribunal in 2010 and had no involvement with cases or as researchers. Prosecutor Shahedur Rahman said: We are not sure about this. The prosecution always works as a team. So, 22 members are not too much. He, however, agreed that all prose-
cutors had not been active. Maybe the newly-appointed officials will think about it. If the government thinks to cut or reshuffle the team, we have nothing to do. When asked about the appointment of a new chairman, Arunav Chakrabarty, deputy register of the tribunal, said: Maybe it will happen this week or the next. The government is taking all required steps they need to. This month, the tribunal 1 deferred the proceedings in cases against Mobarak Hossain, Zahidul Islam alias Khokon Razakar and two contempt cases. Everybody is assuming that the government may appoint a new chairman before the next hearing date, January 24. l
ACC sources said the commission had already appointed its Deputy Director Harun-ur-Rashid as investigation officer to probe the matter. It also imposed a bar on the foreign trip of the former judge. Motahar bought a house in London where his son is studying. He also bought two apartments in Dhanmondi and he owns a lot of land in his village Natore. In regards to another query the commissioner said ACC is a prosecution organisation and it had appealed to the court after the acquittal of Tarique
Rahman in the money laundering case in which his friend was found guilty. Following ACCs appeal, the court directed him [Tarique] to surrender before the court. It is on him now whether he would follow the directive of the High Court, he said. The HC on Sunday asked BNP Senior Vice-Chairman Tarique Rahman to surrender before it in the money laundering case. The court accepted the petition lodged by the ACC that appealed against the lower court verdict that acquitted Tarique Rahman in the afore-
mentioned money laundering case. While contacted, Commission Chairman M Bodiuzzaman told the Dhaka Tribune that they had heard about the allegation against the judge earlier and therefore decided to an enquiry into the allegation. Replying to a query, he said the appeal has got to do nothing with any political connection. The ACC appealed to the court as it was not clear to the ACC as to why Giasuddin Mamun was found guilty in the same case while Tarique was acquitted. Now it is the matter of the court, he said. l
Ashraf alleged that the Jamaat-Shibir activists had joined Mondays rally though no identified leaders were seen on the dais. They joined the rally with arms and the government has evidence, he claimed. Regarding the interference of foreign diplomats in the countrys politics, the minister said: Khaleda Zia has surrendered to ambassadors for power. She thought some ambassadors will make her the countrys prime minister. It is not good for our country. Khaleda failed to uphold the image of the country, he said. Apart from affect-
ing her own image, she also ruined the credibility of the country by involving foreign powers into our internal matters. He claimed: We do not have image crisis and not in shortage of friendly countries. So why will we allow the interference of foreigners in our internal political issues? Mentioning about several meetings of the AL with foreign envoys, he said: We talked about bilateral issues with them. Some time, they [envoys] want to discuss about our politics but we have not allowed this. Regardless country or alliance, the AL would not let them indulge in Ban-
gladeshs politics. Ashraf claimed that the people were confused about the BNPs actual political stance as its central leadership was divided into many streams. There were two high-commands within the party. Their politics is being operated by two heads. Regarding dialogue between the two major parties, the AL leader said: Few days ago, Tarique Rahman [Khaledas son and senior vice-chairman of BNP] said no dialogue will be held with the government while Khaleda Zia said holding a dialogue is a must. They could not come to a consensus on whether they actually want a dialogue. l
DHAKA TRIBUNE
News
Winter vegetables pour in at a kitchen market in the capital yesterday. However, consumers complained that the prices were still too high
n Nazmus Sakib
The High Court yesterday halted for three months the cyber crimes case lodged against Adilur Rahman Khan, secretary of rights body Odhikar, and ASM Nasir Uddin Elan, director of the organisation. The bench of Justice Borhanuddin and Justice KM Kamrul Kader passed the order following an appeal filed under the Code of Criminal Procedure to discharge them from the case. Confirming to the Dhaka Tribune, Md Asaduzzaman, lawyer for the petitioners, said the court had given the stay order and summoned the case details from the trial court. The case was filed for providing distorted information regarding the law enforcers operation on Hefazat-e-Islams Motijheel rally on May 5 last year. On January 8, Dhakas Cyber Crime Tribunal Judge KM Shamsul Alam indicted the duo in the case after dismissing a discharge petition. They appealed against the order with the High Court. l
Prime Minister Sheikh Hasina talks to the Ambassador of United Arab Emirates at her office yesterday
BC
DHAKA TRIBUNE
News
Members of Samajtantrik Chhatra Front bring out a procession on Dhaka University campus yesterday to mark three decades of their political movement
College girl rescued three months after abduction n Tribune Report teenage Islami Chhatra Shibir activist, n Our Correspondent, Lakshmipur A who sustained bullet wounds during a
A college girl was rescued from the citys Rayerbag area on Monday three months after her abduction from Mandari Bazaar of Lakshmipur sadar upazila. Police arrested two persons in this connection. The arrestees were Sohag, 25, and his father Abdur Rab, 50, of Somaspur village under Lakshmipur sadar upazila. Acting on a tip-off, police conducted a drive at the house of Sohag at Kadamtali in the city on Monday afternoon and arrested him along with his father. Later, they were sent to Lakshmipur Sadar police station on Tuesday. Sub-Inspector of Lakshmipur sadar police station Razib Sharma said Sohag had abducted the girl of the same locality from Mandari Bazaar on October 20, 2013. Afterwards, father of victim lodged a case with Sadar police station on October 22 against five people under Women and Children Repression Prevention Act. Officer-in-charge of Lakshmipur Sadar police station Md Iqbal Hossain said the arrestees would be produced before a court. The victim was sent to Lakshimpur Sadar Hospital for medical test. l
WEATHER
PRAYER TIMES
Fajar Sunrise Zohr Asr Magrib Esha 5:24am 6:43am 12:10am 4:02pm 5:37pm 6:56pm
Source: IslamicFinder.org
Day labourers work at Sirajganj town embankment on the west side of the Jamuna River yesterday. The project, financed by the World Bank, is going on slowly DHAKA TRIBUNE
DHAKA TRIBUNE
News
Fake cigarettes worth Tk2 crore seized in Pabna n Our Correspondent, Pabna
Police sized fake cigarettes worth Tk2 crore and unearthed a fake cigarette factory at Ishwardi in Pabna on Mondy night. Two persons were arrested in this connection. Police said the owner of the factory Md Gias Uddin was producing fake cigarettes using British Tobacco Companys brand since long on airport road at the upazila. Police seized cigarettes and cigarette manufacturing machines from the factory. Police said the arrestees Hasanul Haque Uzzal and Al Amin were the workers of the factory, but the owner fled. l
Purbachal Housing A mobile court demolishes makeshift shops during a drive at Karwan Bazar in the city yesterday Project likely to compensate affected residents Overpopulation, lack of medical facilities pose serious health hazards n Mohosinul Karim total of 204 prisoners are detained in solitary cells for psychological and party sources said. n Anisur Rahman Swapan, Barisal at A Advocate Mojibor Rahman Sarwar, Jhalakathi district jail against the security causes, which could not be Rajdhani Unnayan Katripakkha (Rajuk)
MAHMUD HOSSAIN OPU
would compensate people who lost their assets because of the ongoing construction work of its Purbachal New Town Project, said Housing and Public Works Minister Mosharraf Hossain. He made the remark while a visit to the projects construction site in Borokau and Parabartha areas under Kaliganj in Gazipur. Rajuk would construct a number of high-rise buildings inside the project area to accommodate around 62,000 residents, he said. The minister said none of the victims would go unaddressed by the rehabilitation programme adding that most of them had already been allotted plots. The construction work of the project would be finished within next five years. The government has given emphasis on protection of environment during construction. The rivers and wetlands would be protected inside the 6,150 acres of project area, he said. Quoting the minister, the ministrys Senior Information Officer SM Golam Kibria said forests situated inside the area would remain untouched. Moreover new tree plantation programmes would be launched. In April last year, the High Court directed Rajuk not to cut any tree in its Purbachal housing project area till further notice. The court passed the order after hearing a petition which claimed that Rajuk has been chopping trees from some areas in Kaliganj for the housing project without any clearance from the Department of Environment. The minister visited the six-kilometer road under construction connecting Madani Avenue under Baridhara to the eastern part of the Balu River.l
Jail sources said at least 36 square feet space is required for each non-criminal prisoner; 24 square feet for each convicted and under trial prisoner, 54 square feet every death-sentenced prisoner as per jail code
More than half of the prisoners are opposition political activists and they are under-trial prisoners, jail and political
Fishermen of Chandpur start using solar power as prices of kerosene have increased recently
DHAKA TRIBUNE
DHAKA TRIBUNE
Nation
Eight Jatra artists jailed for obscene performance n Our Correspondent, Lalmonirhat
Eight Jatra artists including four women were held yesterday for performing obscene dances on stage at Harinchawra char on the bank of Teesta River in Khuniyagachh union under Lalmonirhat. During a raid, Sanaullah Haque, executive magistrate of a mobile court convicted them on the spot in the presence of police and locals and sent them to the district jail for a month, said Jamir Uddin, officer-in-charge of Lalmonirhat sadar thana. The convicted are Jhumur Begum, 29, Ratna Rani,25, Sumi Khatun,23, Rani Begum, 25, Mofazzal Hossain, 40, Moksedur Rahman, 45, Tara Miah, 38, and Liton Miah, 36, all residents of Balubari village in Dinajpur. The OC said the convicted were hired for performing obscene dances in the illegal Jatra programme at the remote char area where gambling was going on. No permission was taken from the administration to arrange the programme in the village. The Jatra committee members and the gamblers fled from the spot sensing the raid, he said. The detained artistes said they were hired only for performing a Jatra pala and had been victimised. l
As my husband is very sick, I, along with three of our unmarried young daughters, am feeling insecure, she said. She feared another attack anytime. She sought security, especially for the daughters
Lalmonirhat Sadar thana Officer-inCharge Jamir Uddin said police would take necessary actions after investigation. Police went to the spot immediately but the miscreants fled, the OC said adding that proper measures had already been taken to ensure security for the affected Hindu family. l
Labourers are engaged in sand lifting from the Padma River at Gahamabuna in Rajshahi city. Some local influential people are indiscriminately lifting sand from the river, although district administration often fines sand lifters, which seems not to be enough to stop such activities DHAKA TRIBUNE
Dearth of leadership, manpower shortage mean important decisions are swept aside
General Secretary of Bangladesh Human Right Foundation, Khagrachhari district unit Abu Bakar Siddique said the activities of the district council are being greatly hampered due to manpower shortage, preventing any substantial development activities within the region. President of Sushasoner Jonno Na-
NEWS IN BRIEF
Expired drugs seized from Barisal stores
Three drug stores have been fined in Barisal for stocking expired drugs. A mobile court led by administrative magistrates, Rubel Mahmud and Tahmina Parvin, conducted the drive at different drug stores situated in the Sadar Road areas near the city centre. The court fined Tk5,000 to Vishnupriya Pharmacy while Tk2,000 to Mamata Medical Hall and New Medical Hall each and seized huge amount of expired drugs from the pharmacies. Such drives would continue in future for the sake of health security of hundreds of patients, court sources said. Our Correspondent Station extinguished the flame around 1pm after a frantic effort. Hasib Akan Dipu, station-in-charge of Barisal Fire Service Station, said they are suspecting that the fire originated from an electric short circuit. Abul Hossain, owner of Tajmahal Stores, said the loss caused by the fire worth at least Tk15 lakhs. Our Correspondent
Union Parishad chairmen of the district formed a human chain at Kanaikhali in Natore yesterday demanding arrest of the killers of Kalam union chairman Fazlar Rahman Fanu. The UP chairmen of 52 union parishads also demanded exemplary punishment for the killers. The human chain was formed under the banner of union parishad chairmens forum. Among others Tebaria UP Chairman Golam Sarowar and Bramhapur UP Chairman Sarder Afzal Hossein spoke in the event. The speakers gave the government an ultimatum of 72 hours and declared to start an indefinite work off until the demand would be fulfilled. - Our Correspondent, Natore
DHAKA TRIBUNE
Interview
No magic bullet
Hassan Zaman is the chief economist of Bangladesh Bank as of November 1, 2012. Prior to this role he worked as a senior advisor to the governor. Before joining Bangladesh Bank he worked at the World Bank in various capacities, starting as a Young Professional in 1998 and most recently as a Lead Economist in Washington DC. He has worked at BRAC for three years. He has a PhD in Economics from the University of Sussex, and has an MSc and BSc in Economics from the London School of Economics.
What does the current outlook for the economy mean for the performance of the financial sector?
The financial sector has faced a number of issues over the past year. Firstly, the BB has tightened loan provisioning and classification standards to make them consistent with international standards and thereby improving the transparency of the industry. This has led to a oneoff jump in the gross non performing loans (NPL) ratio by 2-3 percentage points. Secondly, financial scams within specific banks have led to a rise in NPLs mainly in the state-owned banking sector. And thirdly, recent blockades have made it genuinely difficult for businessmen to operate and repay their loans. Following the scams, BB has tightened performance agreements with the state owned banks to set specific targets for net loan growth and strengthen internal controls in order to lower their NPLs and also to serve as the basis for fresh capital injections. Turning to the impact of the recent disruptions, we have asked banks to make concessions in the form of rescheduling and restructuring of loans where otherwise-sound businesses are facing cash-flow difficulties. We are aware that there will be some who take unfair advantage of this facility, but we felt its important to give some breathing space to the many genuine businesspersons who were adversely affected. Finally BB has also tried to strengthen its supervisory capacity by investing in technology. We can now get information from banks within a 24-hour timeframe that previously would have taken 3-4 months to collect. This has allowed us to follow up with specific banks and problem branches. It has sent the signal that we are now on top of these issues, and the banks are somewhat more careful as a result. Obviously, the main responsibility is with the banks themselves. We are regulators, not a fraud detection agency. These IT systems are a step in the right direction, but are not a solution to issues of governance in bank boards, which are a critical area of reform. Lets be clear, there is no magic bullet.
inflation around 7% this fiscal year (2013 14). However there are many factors beyond monetary policy which affects inflation on which we have little influence in fact, food prices are typically determined by other factors. We have more of a role in determining non-food inflation, which currently is at a reasonable level, averaging below 5%. At the same time we have tried to do our bit to cushion the impact of the recent shutdowns on businesses through a range of measures as part of our growth-supportive role.
the BB Governor. Total capital inflow approved under this facility in the past fiscal year (2012-13) was US$1.8bn. One of the reasons why private sector credit from domestic sources has slowed to 11% is because more people are now using lower cost borrowing from abroad, and when you include those figures, private sector credit growth is around 13.8%.
n Nofel Wahid
What is your outlook for economic growth this year given all the difficulties we have faced?
Our current forecast is that economic growth is likely to range between 5.8%-6.1%. Setting growth target is the Ministry of Finances prerogative during the annual budget but it is good to have a range of professional economists engaged in growth forecasting during the year, whether they are in different government agencies or in thinktanks. That is why the Bangladesh Bank is now investing in growth forecasting just like other central banks have their own growth forecasts which are often different from other government agencies. It is then useful for policy purposes to have coordination meetings between Ministry of Finance, BB, Planning etc, which we have quarterly to share these forecasts and views on economic trends. In general, as we look to Bangladesh becoming a middle income country, it will be important to strengthen analytical capacity within key government institutions, as people in the information age will increasingly want to see the rationale behind policy and spending decisions which are being financed out of their tax resources.
Is the BBs focus on maintaining a relatively weaker Taka against the US dollar leading to greater inflation, especially food price inflation, given our reliance on food imports from countries such as India?
We have experienced some loss in external sector competitiveness over the past year due to a 5% appreciation in the real exchange rate, especially with the slide of the rupee value. However, if we had not intervened in the foreign exchange market, and bought close to $8bn in the last 18 months, there would have been a much greater appreciation of the Taka, and the exporters would have encountered serious losses. The trade-off is that a larger appreciation of the exchange rate would have made imported goods cheaper. We have analysed the components of the CPI (Consumer Price Index) basket to assess which items are affected by the exchange rate, and our conclusions were that the changes in the exchange rate we have seen over the past year did not greatly affect CPI. More importantly there are few items in the typical consumption basket of the poor whose price was significantly affected by keeping the exchange rate where it is now. The bottom line is that we think the loss to exporters if for example the exchange rate were to appreciate from its current level of Tk77 per US dollar to Tk70 per US dollar will be much greater than the loss to consumers because of the incremental inflation it would generate.
The feedback from the market is: a lot of the US dollar financing obtained from overseas markets is being facilitated by foreign banks based in Bangladesh. Does that put domestic banks at a competitive disadvantage?
Many local banks have provided financing under the Buyers Credit facility for importers with US$2 bn in loans outstanding at the end of November 2013. With respect to the Discounted Export Bills facility for exporters, it is mainly the foreign banks
responsibilities of forex transactions of commission agents, representative offices etc to banks from BB. We have also setup an internal committee to thoroughly review our foreign exchange rules. We are first assessing whether further liberalisation is needed in the current accounts, as well as things like foreign currency limits for travelling. We are going through a systematic review process and I do not want to pre-empt that process by stating what the exact next step will be. We are also jointly reviewing the Foreign Exchange Regulation Act (Fera) with the Ministry of Finance.
If we had not intervened in the foreign exchange market, and bought close to $8bn in the last 18 months, there would have been a much greater appreciation of the Taka, and the exporters would have encountered serious losses
that have provided the financing, which amounts to a total of US$130mn at the end of November 2013. So it is a misperception that domestic banks are at a disadvantage because the bulk of the trade financing in foreign exchange is under the Buyers Credit facility.
Having built our foreign exchange reserves to a more comfortable level, we are now in a position to relax foreign exchange restrictions further. Over the past year, we have taken several important steps including greater flexibility in the use of the Exporters Retention Quota
Turning to monetary policy do you not consider limiting inflation your most important priority?
We are always trying to juggle between limiting inflation, avoiding excessive exchange rate volatility, and trying to support economic growth. They call this the impossible trinity because you cannot achieve all three of these objectives at once something has to give, as there are trade-offs. That said, in general, reining in inflation is BBs most important priority. After all, inflation hits the poorest the most especially those on fixed incomes. We are aiming to keep
The Governor of the Reserve Bank of India (RBI) recently announced that the RBI was looking to setup currency swap lines with other central banks. Is the BB interested in establishing such a swap facility?
There is already an agreement among SAARC central banks for this sort of SWAP facility, which could be useful during periods of external stress. Right now, ofcourse, we are accumulating reserves rapidly, and potentially we could be lenders in this facility. A somewhat related point worth mentioning is that BB has expanded access to foreign currency loans for importers and exporters. Moreover there is a Board of Investment term loan facility which allows foreign funds to be brought in with final approval coming from
The IMF recently reported that the BB has committed to further capital account liberalisation over a period of time. What are the next steps the BB is likely to undertake by way of reforms?
We have taken a series of steps over the past year with the aim to gradually liberalise capital account restrictions. The critical thing here is that all organisations, including the IMF, agree that a sudden opening up of the capital account is very dangerous for any economy. A gradual move is always recommended. Having built our foreign exchange reserves to a more comfortable level, we are now in a position to relax foreign exchange restrictions further. Over the past year, we have taken several important steps including greater flexibility in the use of the Exporters Retention Quota; raising yearly repatriation of foreign employees salaries from 50% to 75%; and delegating some approval
India in most of these indicators and prestigious publications like the Lancet and the Economist have covered this angle. Bangladesh has averaged over 6% growth over the past decade, its GDP of around $150bn has more than tripled since 2000, and the volatility of its growth is one of the lowest. So when you see this level of progress, its hard not to be optimistic about the next 10-20 years. I also see from close quarters that there are a lot of competent, motivated young people in the public sector who with the right mentoring will be able to develop and implement sensible public policy in the years ahead. That said optimism shouldnt mean that the various parts of society which have contributed to this success, be it Government, NGOs, the private sector, development partners etc, should be complacent as there are also challenges ahead immediate ones like infrastructure and skill deficits and medium run ones like climate change and a new demographic which will eventually see fewer working age people. But there is no reason why these challenges cant be addressed; overall Im optimistic about our prospects. l Nofel Wahid is an enonomist.
DHAKA TRIBUNE
International
He claims the victims all died in captivity before being taken to a military hospital to be photographed. The pictures show over a period of years the systematic murder of detainees by starvation, by torture, the gouging out of eyes, the hideous beating of people, the mutilation of bodies, De Silva told the BBC on Tuesday. The report says that all but one of the victims were male. Most appeared to be aged between 20 and 40 and a very significant percentage showed evidence of starvation. The defector informed the inquiry team that there could be as many as fifty bodies a day to photograph which required fifteen to thirty minutes of work per corpse, the report said. He said the purpose of the photos was firstly to be able to issue death certificates falsely saying that the victims had died in hospital and secondly to confirm to the regime that executions had been carried out. The bodies would then be buried in rural areas. l
Rescue teams and residents of the Haret Hreik neighbourhood gather at the scene of car bomb explosion in Beiruts southern suburbs on January 21, 2014. The Al-Nusra Front in Lebanon, believed to be a franchise of the Syrian Al-Qaeda-linked group, claimed a bomb attack in Beirut that killed at least four people AFP
A court on Tuesday jailed a group of 30 Emiratis and Egyptians to terms ranging from three months to five years for forming a Muslim Brotherhood cell, a judicial source said. The cell comprised 10 Emiratis and 20 Egyptians, including six who remain at large and were sentenced in absentia. The Egyptians will be deported after serving their sentences, the source told AFP. The group is banned in much of the region, and the United Arab Emirates, Kuwait and Saudi Arabia pledged billions of dollars in aid to Egypt after the military in July overthrew president Mohamed Morsi, who hails from the Brotherhood, and launched a brutal crackdown on his supporters. The Egyptian defendants, including doctors, engineers and university professors, were arrested between November 2012 and January 2013, according to Human Rights Watch. Amnesty International warned on Monday that the defendants faced the risk of being wrongfully convicted following a grossly unfair trial marred by a catalogue of human rights violations. The list of failings in the trial so far has been astonishing, said Said Boumedouha, Deputy Director of Amnestys Middle East and North Africa Programme. Arrests without judicial warrants, allegedly falsified arrest dates in court documents; months of secret detention and solitary confinement with no access to a lawyer; show that the fundamental rights of the defendants have been completely disregarded, he added in a statement. The 10 UAE citizens were among 69 nationals jailed in July for up to 15 years on charges of plotting to overthrow the government. They belonged to a group of 94 defendants, including 13 women. Prosecutors said the accused were linked to Al-Islah, a group with ties to the Muslim Brotherhood. l
The car of Yemeni law professor Ahmed Sharafeddin, who has been representing Shiite Huthi rebels at Yemens reconciliation talks, after he was shot dead by gunmen AFP
AFP
DHAKA TRIBUNE
International
Indian human rights activists light candles during a vigil in Bangalore as they condemn the death sentence of Dhanajoy Chatterjee in 2004 Indias Supreme Court commuted the sentences of 15 death row convicts on January 21 AFP salves, founder of the Human Rights Law Network, told the CNN IBN television network: I cant tell you how overjoyed I am, how happy I am. Tuesdays ruling came in response to a petition from 15 death row convicts who challenged their sentences due to the time taken for the president to consider their mercy petitions. They include four associates of Indias slain bandit king Veerappan who were sentenced to death in 2004 for a deadly blast in southernIndia. The ruling will probably also affect the high-profile case of Devinder Pal Singh Bhullar, a militant from the northwestern state of Punjab who was convicted over a New Delhi car bombing that killed nine people in 1993. In April 2013 his appeal to the Supreme Court for clemency on the grounds of mental illness and delays was rejected. Indian courts regularly hand down death sentences for the rarest of rare crimes but the country had an informal eight-year moratorium on executions until November 2012, when it put to death a gunman from the 2008 Mumbai attacks. Another militant convicted for his role in an attack on the Indian parliament in 2001 was executed in February last year after his appeal for clemency was rejected by President Pranab Mukherjee. l
Pakistandisappointed Vietnamhands death penalty to 30 as US ties aid to bin drug smugglers in biggest ever case n Laden doctor
AFP, Hanoi
AFP, Islamabad
Pakistan on Monday criticised the US over legislation linking $33 million in aid with the release of a doctor who helped the CIA track down Osama bin Laden, saying it was disappointed by the move. Shakeel Afridi is awaiting retrial on a treason conviction under the countrys tribal justice system for alleged ties to militants. Angry lawmakers in the US saw his original sentence as retaliation for the raid on Al-Qaeda leader bin LadensPakistancompound, and had threatened to freeze millions of dollars in vital aid to the country. On January 17, President Barack Obama signed into law the Consolidated Appropriations Bill 2014, which covers a raft of policies including State Department aid toPakistan. The bill states: Of the funds... that are made available for assistance for Pakistan, $33,000,000 shall be withheld from obligation until the Sec-
retary of State reports to the Committees on Appropriations that Dr. Shakil Afridi has been released from prison and cleared of all charges relating to the assistance provided to the United States in locating Osama bin Laden. Afridi was arrested after US troops killed bin Laden in May 2011 in the northwestern town of Abbottabad. Islamabad branded the raid a violation of sovereignty, and relations with the US fell to an all-time low. The doctor had been recruited by the CIA to run a vaccination programme in Abbottabad in the hope of obtaining DNA samples to identify bin Laden, although medics never managed to gain access to the family. Afridi was convicted not for working for the CIA, for which the court said it had no jurisdiction, but for alleged ties to militants. The Pakistani foreign ministry in a statement Monday said it was disappointed at the condition. It said that Afridi, a citizen of Pakistan, was accused of having violated the countrys laws. l
Vietnamon Monday sentenced 30 drug smugglers to death in the communist countrys largest ever narcotics case, involving scores of defendants and nearly two tons of heroin, a judge said. The 30 men and women, all Vietnamese, were found guilty of drug trafficking and given the death penalty while a further 59 defendants were handed sentences ranging up to life in prison, presiding judge Ngo Duc told AFP. This wasVietnams largest ever trial in terms of defendants, the number of death penalties given out and the amount of heroin involved, Duc told AFP after the verdict was read out in the northern province of Quang Ninh which borders China. Because of the large number of defendants and the seriousness of the case, the trial was held at the prison, Judge Duc added after the 17-day trial. Investigators said the defendants belonged to four international smuggling rings responsible for trafficking heroin and other drugs from neighbouring Laos into Vietnam and China since 2006.
Defendants stand and listen to their verdicts after a two-week long trial All the defendants are Vietnamese and most of them came fromVietnams northwestern provinces, court clerk Nguyen Trung Hieu told AFP. Vietnams remote northwestern region, which borders both China and Laos, is poor and populated by a patchwork of ethnic minority groups. There have been previous smuggling cases in the area, which is far from the control of Hanoi.
AFP
According to a list of the defendants names seen by AFP, some of the 89 people were from ethnic minority groups but court officials could not confirm their status. One of the leaders of the four smuggling rings broken up by the police remains at large, state media reported. Police disrupted the rings in August 2013, making mass arrests and seizing large quantities of illegal drugs. l
Thai anti-government protesters wave national flags as they march in downtown Bangkok avoid jail for a corruption conviction. Yinglucks supporters have accused the protesters of trying to provoke another coup. It was not immediately clear how the government would implement the emergency decree, which enables authorities to impose a curfew, ban public gatherings of more than five people, detain suspects for 30 days without charge and censor media. We will not use force. We have no policy to disperse them (the protesters) and we havent announced a curfew yet, said Labour Minister Chalerm Yubamrung, who will oversee its implementation. Yingluck has called an election for
AFP February 2 but the main opposition party is boycotting the vote. We will not stop The demonstrators have staged a self-styled shutdown of Bangkok since January 13, erecting roadblocks and rally stages at several main intersections, although their number has steadily fallen. l
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DHAKA TRIBUNE
Editorial
LETTER OF THE DAY
Letters to
the Editor
January 20 A report on this matter was published on January 9, but it did not reflect the reality of what we face. Apart from some die-hard opposition supporters, no one in his or her sane mind would risk life or limb to vote, given the mindless violence and killings of ordinary people by the opposition partys so-called activists. Given this threatening public stand, most ordinary people would choose Discretion being the better part of valor, under these ugly circumstances. I would appeal to this parliament to pass a law that would make them reconsider opting for violence as the way for politics, perhaps by having the opposition literally pay for the damage they cause during a hartal and oborodh, or similar measures. Also, a quarterly bank statement should be publicly given through national dailies, of all parties incomes and expenditure summaries for every quarter. Elderly Bangladeshi
Without implementation, Indias relations with Bangladesh may continue to be seen as one-sided and unfair
Sheikh Jinat Mahmid What hard work they do! No words to explain this picture. Nazmul Huda Pgarh This is called real life. Motaher Mona This is real. This is what hard work means. I like this photo.
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xport industries have been reassured by the EU ambassador that the European Union is not currently considering suspension of duty-free access for Bangladesh. Bangladesh will continue to enjoy the most beneficial level of Everything but Arms access under the EUs GSP rules. As the European market accounts for over 50% of exports, it is vital for Bangladesh to retain duty and quota-free access to the EU. Any sudden change would have grave consequences for the RMG sector and the four million jobs it provides and supports. EU support is especially important for the garment sector in order to further encourage the brands involved in the key stakeholder Accord and Alliance safety initiatives, to continue supporting improvements in the industry. The EU ambassador has rightly highlighted safety as the critical issue for the RMG sector. According to the Bangladesh Occupational Safety, Health and Environment Foundation, at least 1,727 workers were killed in workplace accidents in 2013, the majority of which occurred in the RMG sector. It is essential that every effort be made to speed up the pace of recruitment of factory inspectors and the implementation of transparent factory monitoring and improvement systems. The continuation of GSP privileges is a welcome expression of support for the ongoing safety initiatives. We hope that it helps to stimulate new investment and that the government and BGMEA can work with all stakeholders to ensure improvements and to sustainably grow exports further.
This is especially important for the garment sector to further encourage the brands involved in the key stakeholder Accord and Alliance safety initiatives
PEANUTS
CROSSWORD
ACROSS 1 Insane (3) 3 Move about restlessly (6) 8 Prayer ending (4) 9 Beverage (3) 10 Place or worship (6) 11 Tarry (6) 14 Jobs undertaken (5) 17 Bring upon oneself (5) 20 Lubricating (6) 24 Complete agreement (6) 26 Cricket score (3) 27 Jump rope (4) 28 Makes into a statute (6) 29 Transgression (3) DOWN 1 Public walk (4) 2 Daybreak (4) 3 Festivity (4) 4 Resting (5) 5 Stares openmouthed (5) 6 Old cloth measure (3) 7 Swarms (5) 12 Tavern (3) 13 Wildebeest (3) 15 Boring tool (3) 16 Relatives (3) 17 Accustom (5) 18 Country (5) 19 Henhouse (5) 21 Writing fluids (4) 22 Little devils (4) 23 Profit (4) 25 Sister (3)
SUDOKU
YESTERDAYS SOLUTIONS
Crossword
How to solve Sudoku: Fill in the blank spaces with the numbers 1 9. Every row, column and 3 x 3 box must contain all nine digits with no numberrepeating.
Code-Cracker
DHAKA TRIBUNE
Op-Ed
11
n Mehrin Chowdhury
ur childhoods were filled with paperback books with fantastic characters. I still remember the enchanting times I experienced, when every character came alive in my mind. It is commonly believed that the perception skills displayed by young children do not merely suggest roots of later literacy, but also act as building blocks in the development of the childs capacity to comprehend complex relationships and reasoning. In other words, the process of imagination helps to increase a childs understanding of real life, and increases his or her ability to communicate better.
Surely, we want people better than us to rule this society in the future
RAJIB DHAR
n Brian Shoesmith
ormally I would not comment publicly on Bangladeshi politics for the simple reason that I am an outsider. As it happens though, having spent seven years here off and on since 2006, I have grown particularly fond of Bangladesh and its people, and the quirks of both. The impasse that led to the last Emergency in 2006 was quite an education for me in the politics of this country. To watch a comparable impasse play out again, though with so far a different outcome, has been fascinating to watch. I am confounded, however, by the reaction of large segments of the public and the punditry. It is entirely understandable that BNP supporters are full of venomous condemnation of the elections that just transpired, and that AL supporters are full of self-satisfied mirth, even if some of them have the grace or smarts not to gloat openly. What is perplexing is that a swathe of people who are not hard-core supporters of either party, the socalled swing voters along with a set of non-partisan commentators, seem to be enjoying blaming the government for somehow staging and pulling off what they regard as a sham election. The Awami League has, in cricketing terms, played a straight bat.
Everything the BNP has bowled up has been blocked or flicked to the boundary with ease. The BNP had only one kind of bowling concede to our demands for a caretaker government, or we will bring the country to its knees. The AL imperiously refused to concede this demand, out-politicked the BNP at every turn, and, despite enormous violence by BNPs leading ally, eventually held the election, leaving the BNP bereft. The BNP had no strategy beyond a stubborn demand, no Plan B, and as a consequence finds itself excluded from parliament.
tion. Yet I cannot think of any instance in developed democracies where the disastrous and self-defeating policies of any party is rewarded with fresh polls, let alone an outpouring of sympathy from local intelligentsia or foreign diplomacy. I dont wish to sound like an AL apologist, heaven forbid! There have been scandals aplenty during its tenure (though even that kind of corruption is not unique to them). There is also a tendency towards authoritarianism, which also makes the main oppositions self-implosion a concern.
Every countrys future depends on its children, their education, and how their young minds are being nurtured. Every nations dream and hope depends on the children of today and tomorrow. Having said all that, the governments should look into the childrens future; provide them the route to explore their thoughts and ideas while giving them a way to channel their enormous energy. Children learn from their surroundings or the graphic details of TV programs. A day of outdoor adventure and fun can have greater effect on their minds and learning ability than any conventional day at school. Todays children are exposed to bad cartoons and programs on a daily basis that are slowly rotting their beautiful and fragile minds. The mainstream cartoons of today display pointless characters and subject matter. Childrens shows are filled with violence and crime. Children learn from a young age to disrespect their elders and how to skip school. One such cartoon goes to the extent of showing the everyday life of cockroaches, or the issues of a dog which is also half cat. The strange mix in these cartoons can be harmful to a young ones understanding of the concept of
animals in the first place. The alarming rate at which children are getting hooked to these dirty cartoons is high. Parents cannot fight it, especially with the nonstop political turbulence confining the children within the boundaries of their small homes. The saddest part for any Bangladeshi parent is that they are facing equal amounts of madness inside and outside their homes. The fight to raise upright and honourable children is getting harder each day. Children need to use their imaginations. They need to get out of their couches and explore the world. There should be science centres in the city where they can go and spend an entire day learning new things. The government-funded childrens parks can be extended, cleaned, and upgraded to meet the standards of today. The countless low-quality private English medium schools with no playing fields, springing up like mushrooms all over the different cities of the nation, should not be allowed to do business. These harmful teaching institutions have proliferated solely driven by the profit motive, and do not hold, in any way, even the minimum intention to nurture and cultivate young minds. Schools should allow children to be introduced to varied subjects so that they are able to discover their gifts, rather than be forced to study things that do not nurture them. Athletics, music, dance, and art need to be introduced at an early age to nourish these young minds. Children may even find their natural but hidden talent amongst these options. They may discover their flair while playing in the fields, swimming in the pools, or experimenting in the confines of the chemical labs at schools. Recreation camps can be opened for children, where they can be engaged in outdoor activities and realise their dreams and potential for the future. What we need to realise is that these very kids that we nurture today will be the prime ministers, the presidents, leaders, and light-bearers of the days to come. Surely, we want people better than us to rule this society in the future. We want to see our country progressing, not falling back. For that, we need to rethink how we are enlightening the kids, and take proactive action. l Mehrin Chowdhury is a freelance contributor.
Bangladesh needs a political future in which no mainstream parties are attached to terrorism
So why now is AL cast as the villain of the piece? It seems there is a concerted campaign to paint the election as a farce. However, if it was a farce, it was because the BNP refused to present candidates not because the AL had the temerity to ignore the strident BNP demands. Even stranger is the eagerness of notable sections of Bangladeshi intellectuals and the international press to argue that a new election is required so that the BNP can recuperate its posiBut how is it ALs fault that BNP has been such a miserable failure? Why should AL give BNP voters a second chance? Why dont BNP voters force their party to adopt better policies or start finding a new horse to back? BNP had stuck to the demands of the caretaker government, which was a total aberration for a place that, in all other aspects, tries to follow the Westminster system. BNP supporters have made much of the fact that allegedly the polls were heavily rigged.
WIKIMEDIA
n Shahin Islam
was driving back from Florida last week. While passing through the gorgeous plantation-style homes and palm trees in my route, it suddenly came to me what Khaleda Zia should have actually said on December 29. Instead of attacking the people of an entire district, which is unfair, since they do not bear collective responsibility for the action of certain individuals, she should have lamented: Gopalganj is too small to be its own country, and too large to be a mental asylum. But Ganabhaban, I think, is just the right size to be a mental asylum. And the current occupant of Ganabhaban is now spreading her own brand of insanity to the rest of Bangladesh. Exhibit A in this spread of dementia is, of course, the insistency by those defending this government as one necessary to protect the continuity of the constitution. An election in which 154 seats are not contested may be good for several things, but they do not uphold the constitution. The Constitution of Bangladesh calls for free and fair elections in which voters are presented a genuine choice. What took place on January 5 is the antithesis of such an arrangement.
Sheikh Hasina now has crossed a line that many people had hoped, perhaps naively, that she would not cross. She has shed off the role of a democratic prime minister.
An election in which 154 seats are not contested does not uphold the constitution
This change, for the head of Bangladeshs oldest political party, and for a leader who asserts herself as an icon of democracy every chance she gets, will be difficult to process for many Bangladeshis. It will produce mental dissonance and a lot of hand-wringing. But the bottom-line, unfortunately, is Bangladesh is no longer a democracy. I fervently hope that Bangladesh does not lose any trade access because of a single persons ambitions. I dont want to read about Bangladesh in foreign publications as a country that is headed towards civil war. Finally, I believe that this mess has been created by Bangladeshis, and must be solved
by Bangladeshis. Much has been written about BNPs lackings as a political party. But the sad truth is that Awami League is not in much better shape. At the recently-concluded rally in Suhrawardy Udyan, the two largest groups present were supporters of Haji Selim and Shamim Osman. And good luck to Sheikh Hasina if she thinks that she can run a government, much less a country, for five years on the backs of those two. AL, as an organisational party, is semi-decayed. Except for the cooperation of the police, RAB, and other security forces, it has no capability of its own. I think a truth that is always underappreciated is how willing Sheikh Hasina is to cross boundaries; she has a knack for doing the very thing that her sincere well-wishers ask her not to try. After coming to office with overwhelming and absolute support in 2009, she couldnt resist the temptation to take down Dr Yunus, perhaps the only thing that could have made her international supporters turn away from her. Similarly, in the just-concluded election, Bangladeshs thought-leaders and a large part of the international community were ready to accept the election if the percentage of votes cast was anything above the 25% mark.
Instead, she oversaw an election with 154 uncontested seats, which was too much for anyone to swallow. The current composition of her ruling coalition is simply not built to last five years. Hasina would have been better advised to give JSD and Workers Party 20 seats each instead of depending on Jatiya Party to be the rump opposition. To those asking for fresh dialogue or chiding BNP for not joining this election, it should be apparent by now that there was never a possibility for Hasina to voluntarily hand over power to BNP, or anyone else, for that matter. Going forward, this is a truth that bears repeating: Sheikh Hasina will not voluntarily hand over power to anyone else, not even a fellow AL leader such as President Abdul Hamid or Speaker Shirin Sharmin Chowdhury, let alone some technocratic figurehead. In her side, Hasina has the bogey of Jamaat although it is becoming clearer and clearer that to those asking for Jamaat to be banned, the logical next step is asking BNP to also be banned. By the beginning of June, Hasina will likely lose whatever international cover she now possesses as a new government looks set to take power in India. She is now in the position where she cannot afford to let BNP arrange
even a single meeting in Dhaka because she is, and from now, always will be, just one tactical defeat away from a complete collapse. Furthermore, waiting in the wings is the dark horse of Bangladeshi politics. As his opening act, Mahmudur Rahman published a damning corruption report about Sajeeb Wazed, Hasinas unimaginative and disappointing son and heir, which earned him a direct one-year sentence from Bangladeshs Supreme Court.
time and place. Forty-one years after it first happened, Bangladesh is again faced with a dictator with the trappings of, but little interest in, democracy. The massacres of August to November 1975 were mistakes, for which the country paid a high price. The challenge this time will be to solve this puzzle without bloodshed. Those interested in the furthering of Bangladeshi democracy should seize this opportunity as a teachable
Hasina will not voluntarily hand over power to anyone else, not even a fellow AL leader such as President Abdul Hamid let alone some technocratic figurehead
Last year, he took on and dismantled the Ganajagaran Mancha, proving more than equal to the greatest assemblage of cultural and soft power in Bangladeshs post-independent history. If and when he gets out this time, he will be salivating to take on this government at its weakened state. History often rewards, not the most deserving, nor the most diligent, but the most daring, especially in the right moment. Democracy is not a fancy parliament building or some words on a page it is a concept that is enshrined in the hearts of a republics citizens. How much the citizens of Bangladesh are willing to sacrifice for democracy will, in the final count, be the only determinant of how soon it returns to the country. l Shahin Islam is a blogger.
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DHAKA TRIBUNE
Entertainment
n Hasan Mansoor Chatak n Entertainment Desk
The Indira Gandhi Cultural Centre pays tribute to Bengali screen goddess Suchitra Sen by organising a film retrospective which begins tomorrow. The three-day retrospective presenting a total of six timeless films of the Mohanayika will be held at the IGCC auditorium in Gulshan-1. The Suchitra Sen Film Retrospective will commence at 6:30pm tomorrow with a brief discussion on the life and works of the legendary actor. Eminent Bangladeshi film and cultural personalities, Syed Hasan Imam, Pijush Bandyopadhyay and Abdur Razzak will participate at the inaugural event which will be followed by the screening of her first film Saptapadi. The second days programme features Uttar Phalguni, Shat Paake Bandha and Andhi at 10am, 4pm and 6:45pm respectively. On the concluding day, two filmsDevdas and Pothe Holo Deriwill be screened at 10:30am and 3pm respectively. Suchitra Sen passed away early in the morning on 17 January, 2014 in Kolkata at the age of 82. Her demise left a big void in Indian cinema, but she will remain in the hearts of cinema-lovers forever. l
SADIA MARIUM
TODAY IN DHAKA
Exhibition
Gravity-Free World By Artist A Rahman Time: 12pm 8pm Bengal Gallery of Fine Arts, House 42, Road 16 (New) / 27 (old), Dhanmondi DeReal By BahramWhen Time: 3pm 8pm Dhaka Art Center (DAC) House-60 Road-7A Dhanmondi
The ambience of the play is beautifully in sync with the brilliant background music by eminent musician Partha Barua. Rifat Reaz Joyti is the choreographer and wardrobe for the actors is designed by Shamima Shawkat Lovely. The play will be showcased from the second week of February in the capital, this was a technical show staged only before the media and other theatre persona. The Theatre School Praktani was established in 1992 to convene the alumni of Theatre School. After Abdullah Al-Mamuns demise, who was the heart of the theatre school and a notable person in Bangladesh theatre arena, the theatre school was renamed Abdullah Al-Mamun Theatre School Praktani, cherishing his memory, in 2008. Ramendu Majumder, another notable theatre personality of the country is currently the principal of the theatre school. l
Payer Awaj Pawa Jae By Theatre Baily Road Time: 6:30pm 9:00pm Experimental Theatre Hall Bangladesh Shilpakala Academy Konjush By Loko Natyadol National Theatre, Shilpakala Academy
Theatre
Film
The Hobbit: The Desolation of Smaug, Thor: The Dark World, Pacific Rim in 3D, The Conjuring, The Hunger Games: Catching Fire, Escape Plan Time: 10am 10pm Star Cineplex Dutta Time: 6:00pm 8:30pm National Music and Dance Centre Bangladesh Shilpakala Academy
perficial and more out of reach as they start to work and earn a measly amount. But alas, they do not lose hope in the face of adversity and keeps on with their optimistic thoughts. They hope to save their earnings for their family and also expects to earn more as time passes and return home to the awaiting arms of their mothers. The families also wait for the return of their children, but it seemed to be a long wait. Little did this band of workers know the measly savings that they sent home contributed to the overall development of the country. The drama series will focus on the lives and stories of these hardworking expatriates. l
ON TV
MOVIE
9:30pmStar Movies
Mr Beans Holiday
COMEDY
11:00am Comedy Central
Ridiculousness
DRAMA
9:30pm Star Plus 11:30pm Colors
Balika Vadhu Diya Aur Bati Hum
9:30pm HBO
Sport
DHAKA TRIBUNE
13
0 5 3
DAYS TO GO
15 Djoker falls to
Wowrinka in quarters
Bangladesh Cricket Board will go hi-tech to ensure highest level of security by inserting Drone Camera during the Bangladesh Sri Lanka series, the test flying took place at SBNS yesterday MAZHAR UDDIN
BRIEF SCORES
Walton Central 165/10 and 374/10 Marshal Ayub 126 Prime Bank South 230/10 and 272/10 Imrul Kayes 74 Mahmudullah 96/5, Elias Sunny 81/3
Walton Central zone won by 37 runs
RESULT
Sk Russell
Youness Roux73
12
Muktijoddha
Earlier Central Zone finished their second innings at 374, after having made 165 in the first innings. Prime Bank South Zone had posted 230 in their first innings. After the second round of the BCL, defending champion Walton Central Zone are at the top of the table with nine points, BCB North Zone are second with seven points,Prime Bank South Zone have three points and Islami Bank East Zone, who yet to register a win, are on one point. l
years to put Muktis ahead two minutes later. Eletas shot deflected off a defender and Mamun Mias subsequent clearance fell to the feet of Enamul. The former national forward unleashed a powerful grounder from 20 yards out that went past Biplob. Russells Ricardo Cousins attempted a looping shot from 35 yards out in the 39th minute which was gripped by Muktis keeper Rasel Mahmud Liton at the goal line. Three minutes later, Biplob
Muktijoddhas Nigerian forward Nkwocha Kingsley signals his strike while right back Siraji, who provided the through pass, bows to the scorer at the BNS yesterday MUMIT M
14
Albion rally to earn new boss Mel a point against Everton
n Reuters, West Bromwich
West Bromwich Albion marked Spaniard Pepe Mels first home game in charge by retrieving a one-goal deficit to draw 1-1 with Everton in the Premier League on Monday. Former Real Betis manager Mel, who picked Nicolas Anelka despite a club row with sponsors Zoopla over the former France strikers alleged anti-Semitic gesture in a match last month, watched his side go behind in the 41st minute. Romelu Lukaku headed the ball down just outside the penalty box for fellow Belgian Kevin Mirallas and the winger ran on to beat West Brom keeper Ben Foster. Uruguayan Diego Lugano equalised for the hosts in the 75th minute with a near-post header following a right wing cross by James Morrison. Everton thought they had grabbed the winner with the final kick of the game but defender Sylvain Distin was ruled offside after touching in Gareth Barrys shot from close range. The draw lifted West Brom from 14th to 13th in the table while Everton stayed in sixth position, nine points adrift of leaders Arsenal with 16 games remaining. l
DHAKA TRIBUNE
Sport
West Bromwich Albion's Nicolas Anelka is seen in front of their sponsor's advertising board during their English Premier League match against Everton at The Hawthorns in West Bromwich, central England on Monday REUTERS
Portugal captain Cristiano Ronaldo poses with Real Madrid President Florentino Perez after being decorated by Portuguese President Anibal Cavaco Silva with the Ordem do Infante Dom Henrique, Order of Prince Henry, at the Belem presidential palace in Lisbon on Monday AP
Bolivia's President Evo Morales (C) kisses the football World Cup trophy while flanked by Bolivia's national team coach Xabier Azcargorta (3L) and former players that participated in the USA 94 World Cup, at the presidential palace in La Paz on Monday. The trophy arrived in Bolivia as part of an international tour organized by Fifa REUTERS
DHAKA TRIBUNE
Sport
15
QUICK BYTES
The Department of Geography clinched the title of the Inter Department T20 Cricket of the South Zone of Dhaka University by beating Department of Law at the Jagannath Hall ground yesterday. Batting first, Geography posted a total of 146/8 in the stipulated 20 overs. Law replied strongly but fell four runs short of the target, stopping on 143/8. Mahbub of Geography was adjudged man of the final. DU Pro-VC Shahid Akhtar Chowdhury distributed the prizes as the chief guest. RM
Condolence
The Bangladesh Cricket Board (BCB) yesterday expressed deep sadness at the passing of Del Ara Zaman, mother of former national players Dr. Asad-UzZaman Misha and Tariquzzaman Munir. Mrs Zaman, 82, breathed her last in Dhaka yesterday. The BCB extended heartfelt sympathies to the family of the departed and prayed for the salvation of her soul. Tribune Desk
Serie A newcomers Livorno on Tuesday announced the appointment of Domenico Di Carlo, the clubs second new coach in eight days and third of the season. Livorno, promoted from Serie B at the end of last season, sacked Davide Nicola last Monday after the sides seventh defeat in eight games left them second bottom of the table. Nicola was replaced by Attilio Perotti but, days after a 3 0 defeat away to title challengers Roma, Perotti who had coached the Tuscan side in 2012 has been replaced by Di Carlo. AFP
Stanislas Wawrinka of Switzerland celebrates after defeating Novak Djokovic of Serbia in their quarterfinal at the Australian Open in Melbourne yesterday AP
PRELIMINARY SQUAD
Mohammad Hafeez, Ahmad Shahzad, Sharjeel Khan, Shahzaib Hasan, Nasir Jamshaid, Khurram Manzoor, Shoaib Malik, Sohaib Maqsood, Umar Akmal, Harris Sohail, Yasir Arafat, Yasir Shah, Hammad Azam, Kamran Akmal, Shahid Khan Afridi, Zohaib Ahmed, Sohail Tanveer, Mohammad Irfan, Umar Gul, Junaid Khan, Bilawal Bhatti, Anwar Ali, Asad Ali, Ehsan Adil, Mohammad Talha, Saeed Ajmal, Zulfiqar Babar, Raza Hasan, Abdul Rehman, Sarfaraz Ahmed
DAYS WATCH
Sony Six 7:00AM New Zaland v India 2nd ODI Star Sports 4 6:00AM & 2:00PM Australian Open 2014 Star Sports 1 2:40PM Big Bash T20 Adelaide Strikers v Melbourne Renegades Ten Golf 4:00PM European Tour 2014 Qatar Masters, Day 1 Ten Action 1:45AM Capital One Cup 2013/14 Semi-final: Man United v Sunderland Ten HD 10:00PM Ram Slam T20 Challenge Dolphins v Lions 3:00AM Coppa del Rey 2013/14 QF 1: Lavate v Barcelona
Test ended as draw in Abu Dhabi. Whatmore, a former Australian batsman who coached Sri Lanka to World Cup glory in 1996, said he was happy with the win. (I am) absolutely delighted, its a satisfying win... and a perfect gift the boys have given me on my departure, said Whatmore. I am leaving on a very happy note, he added.
BCB director Kazi Inam Ahmed (2R) speaks during a press conference of the ULAB Fair Play Cup Cricket at the ULAB premises yesterday MUMIT M
Cricket legend Sachin Tendulkar looks at an infant during a promotional event in Mumbai yesterday AP
vealed through a press conference at the ULAB premises yesterday. The champions of the tournament will get Tk40000 while the runners-up will receive Tk25000 as prize money. ULAB Board of Trustee member and a director of Bangladesh Cricket Board (BCB) Kazi Inam Ahmed, Prof. Imran Rahman, Vice Chancellor, ULAB, Lt. Col. Foyzul Islam (Retd.), Registrar, ULAB, and Taufiq Aziz, manager, External Affairs and Advisor, ULAB Field Sports Club were present on the occasion. Inam, during the press briefing, explained why sport is important and how it increases the bonding among the youth society. As we have our own tournament-standard playground, our main purpose is to create opportunity for other university students to play here and establish good relations among private universities. This time the tournament is big with 12 teams participating. We hope everyone have fun and enjoy the tournament, he said. l
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Husband held with 6 parts of wifes body in Gazipur n Our Correspondent, Gazipur
At one stage of altercation over a familial matter, a housewife was cut off into pieces by her husband on Sunday. Police recovered six pieces of her body after she was allegedly killed by her husband in the Rowshan Road area of Chandina in Gazipur yesterday. The deceased was Chaina, 27, wife of Reazul Karim Ranju. Locals called the police after sensing malodor coming from the rented house of Ranju. Upon receiving information, police went to the house and arrested Ranju and recovered six of Chainas limbs kept in sacks, Sub-Inspector of Joydevpur police station Ekram Hossain said. He said: At one stage of the altercation over familial matter, Chaina was killed and cut to pieces by her husband on Sunday night at their rented house in the Barabari area of Gazipur Sadar upazila. Later on Monday, Ranju left the area and rented another house in Chandina in Gazipur with the pieces of his wifes body, he added. Chaina hailed from Lohagara of Narail, while Ranju hailed from Pangsha of Rajbari district. l
A record number of around 900 patients were currently admitted to the indoor section of the 431-bed hospital
Sumi, a relative who accompanied Shahid, told the Dhaka Tribune that the doctor could not assure a bed, but admitted Shahid as he needed emergency examination. Offers of handsome amounts of money to the hospital staff were also unable to secure a bed, Sumi said, expressing her dismay about the possibility of the patient having to stand throughout the night. Montu Mia, a 75-year-old patient from Fenis Chhagalnaiya upazila, was forced to secure a place on the floor beside a lift, after being unable to manage a bed in the 24 hours since he was admitted to the hospital on Monday.
Patients are forced to stay in the corridors of the National institute of Cardiovascular Diseases as overcrowding left no beds available at the hospital. The photo was taken yesterday DHAKA TRIBUNE gone beyond the hospitals control and capacity, and serious patients had to be kept on the floor, as bed could not be provided. The hospital would be able to manage more patients after the completion of a 200-bed expansion that was included in the annual development programme, he said. A relative of a patient, preferring to stay unnamed, sought the attention of the health ministry for supplying a few movable beds for the seriously ill patients who would not be able to tolerate the cold. l
utilised bandwidth of about 160GB out of its total capacity of 200GB, he said. He added that a joint telecom working group had been formed in 2003 but it had had its last meeting in 2008. The connectivity issue could be discussed in the forum. Bangladeshs bandwidth capacity will stand at 2,000GB when the second submarine cables operation is commissioned in the first half of the next year. The official said Bhutan and Nepal were also interested in importing bandwidth from Bangladesh under a regional initiative and they were already pursuing the matter. The meeting between Manmohan and the chief ministers also discussed electricity issues: that the northeastern region currently had a capacity of generating 4,080MW of electricity and another 6,810MW was under development, the Indian PMO press release said. Untapped hydro potential is 55,561MW and development of this potential would generate surplus power, meeting the energy needs of the nation and also generating resources for the region, it added. l
Muhith: Government to stay for 5 years About the resolution adopted in n Tribune report European Union parliament on BanglaFinance Minister AMA Muhith yesterday said the government would complete its five-year tenure and it was working to this end. Muhith said no foreign countries had put pressure on the government to hold an early election. He said this to journalists after a non-concession loan committee meeting at the finance ministry auditorium. What is outside pressure? There is no pressure. We have invited the BNP to the negotiation table to settle the election issue, he said.
Detectives look into a water tank of a building at Rajarbagh traffic police barracks, searching for the missing head of a decapitated body, which was recovered from the rooftop yesterday RAJIB DHAR
desh he said the EU parliament stated that the election was internal matter of Bangladesh. Muhith asserted that the present government would complete its five years tenure. He, however, on January 4, a day before the parliamentary poll, said the new government would not stay in power for five years. Talking to journalists after a visit to the under-construction bridge on River Surma in Sylhet, Muhith said it was foolish act of the BNP not to take part in the election. l
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Business
B4 Dhaka, Islamabad
help Delhi rescue cotton export
WEDNESDAY, JANUARY 22, 2014 www.dhakatribune.com/business
n Tribune Report
Finance Minister AMA Muhith has asked the management of Biman Bangladesh Airlines to prepare a 10-year business plan for making it a profitable enterprise from its sorry state. He directed the authorities of the national flag carrier after approving a state guarantee against a commercial loan of US$290m taken from a multinational bank to help survive the state enterprise. Biman has become a dysfunctional organisation since its inception due to constant losses over the years, he told reporters after a meeting of non-concessional loan committee at the finance division yesterday. We cannot also avoid our own responsibilities in building up its own capacity to run the national flag carrier on its own. The airline is taking the loan from Standard Chartered Bank to pay Boeing for two aircrafts bought earlier for the national flag carrier. Presided over by the minister, the meeting was attended by Bangladesh Bank Governor Aitur Rahman and Biman Managing Director Kevin J Steele. The government did not give facilities to enhance the financial capacity of Biman. As a result, the fleet is still
Visitors increasingly crowding the Dhaka International Trade Fair being held at the capitals Sher-e-Bangla Nagar. The photo was taken yesterday, the 11th day of the month-long event DHAKA TRIBUNE
unable to fly on its own wings, said the minister, defending the need for fresh financing to the enterprise. However, it will not be possible to make it profitable over night. Biman bought two aircrafts during the last caretaker government under an agreement with Boeing and the government is now giving the guarantee against the loan so Biman could pay Boeing. Last month, Biman authorities had expressed its utter fear of becoming a bankrupt airliner soon as it apprehended relevant companies such as Boeing, general electric, leasing companies and fuel companies might put cash-hit Biman on cash only categories as the financial deficit of the company rose to over Tk1,500 crore. It would virtually force the company to cease its operations in the coming days, it apprehended. Kevin stressed on the need for injecting around $200m as soon as possible to face the ongoing financial crisis and sought government help in arranging a commercial loan in preferential term. Total deficit of Biman now stands Tk1,502 crore while the outstanding dues stands at Tk1,589 crore and available funds stands at Tk87.31 crore, according to a Biman statement as of December 15 last year. l
'As the businessmen are the main driving force of our economy, they will have to continue efforts in the countrys economic development that has been badly hampered in the wake of devastating political unrest'
Floating the idea, the minister urged the businessmen to work together and diversify products for increasing the countrys export earnings. As the businessmen are the main driving force of our economy, they will have to continue efforts in the countrys economic development that has been badly hampered in the wake of devastating political unrest, Tofail said. Commerce Secretary M Mahbub Ahmed, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Kazi Akram Uddin Ahmed, president of International Chamber of Commerce and Industry (ICC,B) Mahbubur Rahman, presidents of DCCI, BGMEA, BKMEA, MCCI and leaders of other trade associations, among others, attended the meeting. Meanwhile, BSS adds, Tofail proposed to form a regional forum named Bangladesh-India-China-Myanmar (BICM) to boost the trade in South Asia. India and China have already started dialogue to form the regional forum ... we too gave them our consent, he said. l
playing role in revenue surge. The telecom operators are required to share 5.5% of their revenue earnings with BTRC. Apart from that, different telecom companies owe hundreds of crore to the regulator. If the dues are paid, the income is said to be further boosted. Official data showed the telecom watchdog earned Tk3,051 crore in the first half of last fiscal year. The earning of the whole year was Tk5,404 crore with 22% decline from the previous years Tk6,957 crore.
According to a high official, BRTC was not worried about the fall of revenue in last fiscal as it saw the market would be expanding for next couple of years, which along with 3G would spike its revenue earning. The main sources of BTRCs revenue income are licence fees, licencerenewal fees, revenue sharing and frequency charges. Data showed the regulator earned Tk3,047crore in FY2010 11, Tk2,370crorein FY2009-10 and Tk3,195crore in FY2008-09. l
STOCKS
DSEX DS30 CSEX 4584.63 1614.7 8996.92 0.75% 0.34% 0.74%
EXCHANGE RATES
Average selling rates to public in BDT Banks Rupali Bank Currencies SELL BUY USD 77.4 78.4 EURO INR SAR 126.6295 1.1881 20.5377 107.5228 1.3445 21.0049 Sonali Bank SELL BUY 77.4 104.3141 1.19 20.5341 78.4 106.7316 1.29 21.0095
B2
DHAKA TRIBUNE
Stock
DSE GAINERS Company
Closing (% change) 9.87 9.82 9.46 9.30 8.36 8.33 8.33 8.21 8.15 8.06
Apex Tannery -A Pragati Gen. I -A Miracle Industries -B I P D C -A Midas Financing-Z ICB Islamic Bank-Z Meghna PET Ind. -Z Meghna Con. Milk -B Takaful Islami Insu-A Northern G Insur-A CSE GAINERS Company Prime Islami Life -A Northern G Insur-A Miracle Industries -B Apex Tannery -A Pragati Gen. I -A Paramount Insur-A I P D C -A Meghna Life Ins. -A IFIL Islamic M.F.1 A Premier Leasing-Z
Average (% change) 6.65 6.83 8.03 8.49 7.32 5.38 5.62 4.58 5.38 5.79 Average (% change) 4.19 9.01 8.22 5.47 9.73 5.35 8.09 3.48 7.39 6.29
Closing average 178.08 64.93 24.21 22.87 33.56 6.46 9.02 14.16 42.67 45.89
Closing 183.60 67.10 24.30 23.50 33.70 6.50 9.10 14.50 43.80 46.90
Daily high 183.80 67.20 24.40 23.60 34.00 6.60 9.20 14.70 44.40 47.50
Daily low 166.70 60.80 20.00 20.00 28.00 5.80 8.60 12.10 39.80 40.00
Turnover in million 93.029 39.521 14.614 22.857 1.511 5.583 0.451 1.218 27.965 28.613
Latest EPS 6.28 4.19 0.12 0.91 -2.48 -0.26 -0.52 -4.60 2.64 3.04
Latest PE 28.4 15.5 201.8 25.1 -ve -ve -ve -ve 16.2 15.1
Closing (% change) 10.00 9.91 9.87 9.83 9.64 8.37 8.13 7.96 7.81 6.73
Closing average 115.34 45.38 24.23 176.26 64.85 26.58 22.58 138.72 6.83 10.99
Closing 121.00 46.60 24.50 184.40 64.80 27.20 22.60 147.90 6.90 11.10
Daily high 121.00 46.60 24.50 184.60 65.00 27.60 22.90 148.00 7.00 11.40
Daily low 115.00 43.00 21.00 168.00 62.50 25.80 21.20 132.50 6.20 10.40
Turnover in million 0.089 1.180 3.618 3.613 0.318 0.585 0.881 1.075 2.032 2.159
Latest EPS 4.95 3.04 0.12 6.28 4.19 1.51 0.91 6.45 1.32 0.04
Latest PE 23.3 14.9 201.9 28.1 15.5 17.6 24.8 21.5 5.2 274.8
'Investors seem to react positively on growth stocks while monetary policy statement for H2 FY14 is expected to focus on exploring the private sector investment by increasing credit growth'
The Chittagong Stock Exchange Selective Category Index, CSCX, rallied nearly 66 points to close at 8,996. Mozaffar Hossain Mills Ltd making its debut dominated both the gainer and turnover charts, gaining 353% to Tk45.3 from its IPO price of Tk10 each and shares worth more than Tk34 crore changing hands. Trading of the new stock gave a slight boost to the total turnover at DSE by 16% to stand Tk700 crore
(+) 0.75% (+) 0.68% (+) 0.34% (+) 0.80% (+) 0.74%
Daily high 835.00 82.00 39.00 275.00 370.00 33.50 320.00 148.90 68.00
Unchanged Issue (Avg. Price Basis) Market Capital Equity (Billion. Tk.) Market Capital Equity (Billion US$)
Daily low 822.60 82.00 38.00 271.00 352.00 30.00 307.00 142.00 59.00 Turnover in million 0.413 0.004 0.097 0.205 0.397 18.120 8.793 0.201 122.914 Latest EPS 20.50 1.44 1.01 63.48 9.80 1.47 12.46 -15.39 3.35
Closing average 826.00 82.00 38.80 273.33 366.80 32.42 311.53 143.57 63.65
Closing 825.50 82.00 38.60 273.40 367.50 32.00 308.20 143.20 63.00
Latest PE 40.3 56.9 38.4 4.3 37.4 22.1 25.0 -ve 19.0
as the Company reported disbursement of 40% cash dividend for the year ended on June 30, 2013. Primary Status of IPO of Emerald Oil Industries Ltd.: All concerned are hereby informed that the primary status of the IPO of Emerald Oil Industries Ltd.: Total amount of subscription (excluding NRB)=Tk.7,665,315,000.00 & Total No. of application=1,152,166. Total amount received from NRB Tk. 175,000,000.00 & Total application from NRB=35,000 up to 20 January 2014. RIGHT SHARE: ARAMITCEM: Subscription 23.03.2014 to 17.04.2014. Record date for entitlement of rights share: 09.01.2014. RUPALILIFE- Subscription 06.04.2014 to 05.05.2014. Record date for entitlement of rights share: 16.01.2014. IPO Subscription: Emerald Oil Industries Limited subscription date 06 12 January 2014, NRB upto 21 Januray 2014. At per, face value taka 10 and market lot 500. Matin Spinning Mills Limited subscription date 26 30 January 2014, NRB upto 08 Feburay 2014. @ Tk. 37/-, face value taka 10 and market lot 200. Hwa Well Textiles (BD) Limited subscription date 17 23 February 2014, NRB upto 04 March 2014. At per, face value taka 10 and market lot 500.
Samata LeatheR -Z
CSE LOSERS Company 8th ICB M F A Imam Button -Z Kay & Que (BD) -Z Hakkani P& Paper -B Delta Brac HFCL A Rangpur Foundry -A Monno Ceramic -B Bank Asia -A Maksons Spinning-A
-2.77
-2.93
Average (% change) -26.58 -0.20 -5.86 -5.49 -2.53 -2.88 -2.86 -4.23 -1.12
28.15
28.10
29.00
28.00
0.183
-0.08
-ve
Closing (% change) -26.58 -8.33 -5.99 -5.92 -2.94 -2.88 -2.86 -2.74 -2.42
Closing average 58.00 9.90 20.40 33.55 66.28 101.00 34.00 21.06 20.29
Closing 58.00 9.90 20.40 33.40 66.00 101.00 34.00 21.30 20.20
Daily high 58.00 9.90 20.40 34.00 67.50 101.00 34.00 21.30 20.80
Daily low 58.00 9.90 20.40 33.00 65.50 101.00 34.00 20.00 20.10
Turnover in million 0.058 0.005 0.010 0.101 0.597 0.051 0.020 0.039 5.986
Latest EPS 3.48 -2.20 -0.89 0.44 4.72 3.03 0.64 1.41 0.55
Latest PE 16.7 -ve -ve 76.3 14.0 33.3 53.1 14.9 36.9
Delta SpinnersA
-2.40
-2.18
40.90
40.60
41.40
40.40
3.227
1.16
35.3
DSE TURNOVER LEADERS
ANALYST
SECTORAL TURNOVER SUMMARY
Sector Bank NBFI Investment Engineering Food & Allied Fuel & Power Jute Textile Pharma & Chemical Paper & Packaging Service Leather Ceramic Cement Information Technology General Insurance Life Insurance Telecom Travel & Leisure Miscellaneous Debenture
Trading of the new stock gave a slight boost to the total turnover at DSE by 16% to stand Tk700 crore over the previous session
CSE Total
Company Mozaffar H.Spinning-N ConfidenceCement A ApexAdelchi Ftr -A Meghna Petroleum -A LankaBangla Fin. -A Appollo Ispat CL -N Padma Oil Co. -A Olympic Ind. -A UCBL - A Golden Son -A
DSE Million Taka 513.23 529.79 214.44 943.56 186.93 707.79 3.25 1077.41 605.24 1.11 27.56 304.68 33.97 640.08 44.12 407.38 411.34 154.91 131.66 170.36 0.13
% change 7.22 7.45 3.02 13.27 2.63 9.96 0.05 15.16 8.51 0.02 0.39 4.29 0.48 9.00 0.62 5.73 5.79 2.18 1.85 2.40 0.00
Million Taka 49.97 52.07 13.72 113.59 21.40 42.55 149.05 37.15 0.17 2.34 9.05 4.49 41.52 7.53 18.78 18.23 9.31 20.36 33.33 0.00
% change 7.75 8.08 2.13 17.62 3.32 6.60 0.00 23.12 5.76 0.03 0.36 1.40 0.70 6.44 1.17 2.91 2.83 1.44 3.16 5.17 0.00
Million Taka 563.20 581.85 228.17 1057.15 208.33 750.34 3.25 1226.46 642.40 1.28 29.90 313.72 38.46 681.59 51.65 426.16 429.57 164.22 152.02 203.69 0.13
% change 7.26 7.50 2.94 13.63 2.69 9.68 0.04 15.82 8.29 0.02 0.39 4.05 0.50 8.79 0.67 5.50 5.54 2.12 1.96 2.63 0.00
Square Pharma -A Bengal Windsor-N LafargeS Cement-Z Generation Next-A S Purbanchol Power-N Grameenphone-A Active Fine Chem.-A UNITED AIR A Apex Tannery -A Paramount Textile Ltd.-A
CSE TURNOVER LEADERS Company Mozaffar H.Spinning-N Appollo Ispat CL -N BSC A Golden Son -A UNITED AIR A UCBL - A LankaBangla Fin. -A Paramount Textile Ltd.-A S Purbanchol Power-N ConfidenceCement A
555,177 1,654,840 3,007,000 3,285,980 1,426,120 467,594 1,004,715 5,416,058 522,400 1,645,230
Volume shares 1,945,500 1,126,600 40,430 293,000 1,010,453 492,270 181,888 240,200 162,330 82,515
Volume shares 7,401,500 1,925,517 359,800 631,920 2,056,360 4,014,200 441,152 778,192 4,431,432 1,930,995
Value in million 341.24 275.62 198.75 158.59 157.06 149.27 145.32 134.35 127.89 122.91
122.21 119.66 116.27 114.83 105.31 97.04 96.74 96.02 93.03 85.70
% of total turnover 4.80 3.88 2.80 2.23 2.21 2.10 2.04 1.89 1.80 1.73
1.72 1.68 1.64 1.62 1.48 1.37 1.36 1.35 1.31 1.21
Daily closing 45.30 145.10 560.10 253.00 76.30 36.90 331.80 172.30 28.70 63.00
221.00 72.30 39.10 34.70 73.60 207.50 97.30 17.70 183.60 51.70
Price change 0.00 3.87 3.61 1.40 0.00 -0.54 1.34 -0.35 0.00 -2.78
0.91 1.83 4.27 -1.98 -1.47 0.19 1.78 -1.12 9.87 -1.90
Daily opening 0.00 139.70 540.60 249.50 76.30 37.10 327.40 172.90 28.70 64.80
219.00 71.00 37.50 35.40 74.70 207.10 95.60 17.90 167.10 52.70
238.00 73.70 39.60 35.70 75.00 208.30 98.00 18.50 183.80 53.40
Daily high 48.00 146.80 563.80 254.70 77.20 37.70 335.00 175.00 30.90 68.00
205.00 64.10 37.20 32.00 68.00 195.00 88.00 16.20 166.70 47.50
Daily low 40.00 135.00 542.00 240.00 70.00 36.80 320.00 163.00 26.00 59.00
Daily average 46.10 143.14 552.39 250.96 76.38 37.19 329.40 172.64 28.86 63.65
220.13 72.31 38.67 34.94 73.84 207.52 96.28 17.73 178.08 52.09
Prepared exclusively for Dhaka Tribune by Business Information Automation Service Line (BIASL), on the basis of information collected from daily stock quotations and audited reports of the listed companies. High level of caution has been taken to collect and present the above information and data. The publisher will not take any responsibility if any body uses this information and data for his/her investment decision. For any query please email to biasl@bol-online.com or call 01552153562 or go to www.biasl.net
Value in million 90.07 42.05 19.82 18.69 17.92 14.21 13.94 12.56 12.00 11.81
% of total turnover 13.98 6.53 3.08 2.90 2.78 2.21 2.16 1.95 1.86 1.83
Daily closing 45.40 37.00 491.00 63.00 17.80 28.80 76.40 52.00 73.80 145.20
Price change 0.00 -0.80 4.91 -2.33 -1.11 0.35 0.26 -1.52 -1.47 3.94
Daily opening 0.00 37.30 468.00 64.50 18.00 28.70 76.20 52.80 74.90 139.70
Daily high 47.80 37.80 498.00 64.70 18.20 29.10 77.20 53.30 74.90 146.80
Daily low 42.00 36.90 480.00 62.70 17.50 28.30 74.00 51.80 73.60 140.00
Daily average 46.29 37.32 490.19 63.80 17.74 28.87 76.66 52.28 73.90 143.13
DHAKA TRIBUNE
Business
B3
FAR Chemical IPO approved n Tribune Report
FAR Chemical Industries, a textile chemical manufacturer and a concern of FAR Group, has received IPO (initial public offering) approval from the securities regulator yesterday. The company would raise Tk12 crore through issuing 1.20 crore ordinary shares of Tk10 each to purchase capital machinery and increase production capacity, Bangladesh Securities and Exchange Commission said. Located at Comilla EPZ, the company produces all types of textile chemicals needed the Groups 100% export-oriented textile sector. According to the companys as of June 2013, The earnings per share of the company was Tk5.01 and the net asset value per share Tk15.55 at the end of June 2013, according to audited financial statement. l
The companies were warned due to non-compliance with the directive within the stipulated time. It did not mention the deadline for compliance of its directive
The commission in a statement yesterday said the companies were warned due to non-compliance with the directive within the stipulated time. It did not mention the deadline for compliance of its directive, however. Earlier, the BSEC asked the companies to provide information about the latest status of shareholding position of directors, sponsors and promoters. The directive says the sponsors, di-
A person walks past the entrance of the congress centre for the annual meeting of the World Economic Forum (WEF) 2014 in the early morning in Davos REUTERS settle the global recovery. What could trigger a correction is that growth turns out to be weaker than markets have discounted, said Andrew Bosomworth, a senior portfolio manager at Pimco, the worlds largest bond fund. In the case of equities, markets have discounted some pretty rosy economic conditions. rises mean the US recovery is not as solid as it seems. With growth and job creation should come inflation. Given that uncertainty, US central bankers must convince hesitant consumers that even if the era of quantitative easing is drawing to a close, an interest rate rise remains a long way off. The Feds next challenge is not over tapering, its over rates and guidance, said Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds. If it fails to convince, market interest rates which often set the cost of borrowing could rise too quickly and choke off recovery in the United States and beyond. If that happens, investment will leach out of emerging markets as US funds return home lured by higher returns. Its a corollary of quantitative easing and easy money going to emerging markets, said Ghahramani. Now that there is less of that QE and easy money, where does it come out of? It comes first out of those markets. If low inflation is a puzzle in the United States, prices could actually start falling in Europe. IMF Managing Director Christine Lagarde, who speaks at Davos tomor-
The challenge for policymakers in the United States and Europe is to manage policy expectations at a time when inflation is not performing as expected. Some Fed officials worry tepid price
In Japan, policymakers have had some success with their efforts to fight deflation after years of economic stagnation. Their plan - dubbed Abenomics is to combine fiscal spending, economic reforms and monetary stimulus to pull the worlds third-biggest economy out of its long slump. Premier Abes efforts have paid dividends with Japanese growth outpacing its G7 counterparts in the first half of 2013. However, some policymakers beyond Asia see the policy cocktail as a high-risk strategy about which they have doubts, particularly as progress on reforms aimed at boosting the econ-
B4
n Reuters
A spurt in demand from Bangladesh and Pakistan for Indian raw cotton will help New Delhi offset falling exports to its top client China, traders said. A bountiful crop and a weaker rupee have made Indian cotton cheaper for overseas textile and clothing makers, many of which are rushing to meet increased orders from the United States and Europe as the global economy picks up. India, the world's No 2 producer and exporter of cotton, has seen growing appetite from its second and third largest customers, Bangladesh and
DHAKA TRIBUNE
Business
Go east
Cotton imports from India to Bangladesh are rising because of competitive prices and a short lead time
Pakistan, as well as other key clothing producers such as Turkey and Vietnam, the traders said. "Our company's exports to Bangladesh have doubled between November and January from the year ago period," said an official from a leading cotton exporter in the eastern city of Kolkata. He declined to be named. This pick-up in buying will help stem an overall decline in India's cotton exports as Beijing prepares
The weaker rupee and a good harvest have been key in boosting exports to destinations other than China, said Suresh Kotak, chairman of Mumbai-based brokerage Kotak Commodities. The Indian rupee fell 11% in 2013, while better yields have helped Indian farmers churn out 37.5 million bales of cotton so far in the year that started in October, nearly 3% more than a year earlier. "Cotton imports from India to Bangladesh are rising because of competitive prices and a short lead time," said Mohammad Ayub, president of the Bangladesh Cotton Association. Indian exporters are currently offering cotton at around 93 cents per pound, while competitors such as the United States, South Africa, Uzbekistan and Kazakhstan are selling at 97 to 102 cents. Bangladesh's readymade garment exports soared 20% to nearly $12bn for the six months to December, according to the latest data from its government, despite a spate of deadly accidents that have hit the country's multi-billion textile industry. l
A labourer pulls down a handcart after loading a bundle of processed cotton at a processing unit in Kati town, 50 km (31 miles) north of Ahmedabad
REUTERS
NEWS IN BRIEF
European shares hit five and a half year high, dollar gains
European shares hit fresh 5 and a 1/2 year highs yesterday, tracking Asian shares higher as Chinese money rates eased, while the dollar got a boost from a report the Federal Reserve would again trim its bond buying next week. Reuters
'Most OECD economies have by now largely exited the restraints of recession, with strong gains in some countries in the energyintensive manufacturing and petrochemical sectors'
Iranian supplies contracted by 320,000 bpd last year but edged higher in December as diplomatic activity aimed at halting Tehran's nuclear activity gained momentum. The IEA said rising US crude production helped balance the effects of supply disruptions among some OPEC countries.
Singapore drops plans for gold fix amid London pricing probe
Singapore has dropped plans to set a daily reference price for gold, four sources with direct knowledge of the matter said, as regulators in Europe investigate suspected manipulation of precious metals prices by banks. Reuters A man displays gold bangles at a jewellery shop in Karachi REUTERS