Reserves to stabilise at $34 billion
Bangladesh’s foreign currency reserves may average $34 billion in the next fiscal year, which is enough to cover 4.7 months’ import bills, said the American credit rating agency Fitch yesterday.
29 September 2022, 18:00 PM
Wholesale, retail sectors yet to fully recover
Wholesale and retail establishments that saw their business crippled by Covid-19 may have enjoyed some recovery alongside the return to economic normalcy but the ongoing Russia-Ukraine war now threatens to offset their gains amid global inflationary pressure.
29 September 2022, 02:50 AM
Govt’s foreign loans: Weak taka makes repayment costlier
The government’s foreign debt repayment has become costlier owing to the sharp depreciation of the taka against the US dollar in recent months.
23 September 2022, 02:10 AM
Revenue collection jumps 21pc in Jul-Aug
Revenue collection by the National Board of Revenue (NBR) witnessed robust growth of 21 per cent in the July-August period of the current fiscal year thanks to the devaluation of taka, high inflationary pressure and expansion of the economy.
21 September 2022, 02:50 AM
$1b WB loan unlikely this fiscal year
Bangladesh’s request for additional budget support of $1 billion from the World Bank is unlikely to come through this fiscal year, dashing the government’s hope of meeting a portion of the budget deficit with cost-effective funding.
21 September 2022, 02:20 AM
Household survey focuses on food security
The ongoing Household Income and Expenditure Survey is giving special emphasis to gauging Bangladesh’s food security in keeping with the global food shortage sown by the pandemic and turbocharged by the Ukraine war.
20 September 2022, 02:00 AM
External debt repayment to double in 3yrs
Bangladesh’s external debt repayment obligation will double in the next three years, according to data of the Economic Relations Division (ERD).
19 September 2022, 02:30 AM
Project delay, cost overrun: Ills lie deep in ERD, Planning Commission
That development projects in Bangladesh are rarely completed on time and within the original budget is well established by now.
19 September 2022, 02:00 AM
State coffers robbed of Tk 4,697cr by Petrobangla, BPC
The government has been deprived of about Tk 4,697 crore for 19 counts of irregularities by Petrobangla and Bangladesh Petroleum Corporation, found an audit.
18 September 2022, 02:00 AM
BTCL defaults on Tk 2,259cr to exchequer
The state coffer is at least Tk 2,258.76 crore short, thanks to Bangladesh Telecommunications Company Limited’s failure to deposit the sum for mismanagement, shows audit report.
17 September 2022, 02:00 AM
Foreign aid use up 1.57pc in Jul-Aug
Foreign assistance utilisation by the government has gone up by 1.57 per cent year-on-year during the first two months of the current fiscal year, thanks to improvements in the use of project aid.
15 September 2022, 03:00 AM
12 policy reforms for $1.5b WB loan
The World Bank has set forth 12 conditions for extending budget support of about $1.5 billion to Bangladesh over the next three years.
14 September 2022, 02:00 AM
Indo-Bangladesh transshipment: 4-lane Cumilla-B’baria highway on cards
The government is taking up a fresh Tk 7,188 crore project to build a four-lane highway from Cumilla to Brahmanbaria that would improve connectivity between the port city and Sylhet and also make the transshipment arrangements with India more practicable.
13 September 2022, 02:20 AM
Ctg elevated expressway: Cost likely to escalate, wait to lengthen
The cost of the already delayed elevated expressway project in Chattogram city is likely to rise by Tk 1,048 crore and the deadline extended by two more years as a proposal in this regard is set to be placed before an Ecnec meeting today.
13 September 2022, 02:00 AM
Stop hasty year-end spending
The Finance Division has urged all government offices to rein in hasty expenditures at the end of each fiscal year as it destroys fiscal discipline and increases the government’s borrowing cost.
12 September 2022, 02:30 AM
Anomalies take shine off OMS
As the Covid-induced lockdown was taking a heavy toll on the poor back in 2020, the food directorate sold rice at subsidised rates under special and regular Open Market Sale programmes across the country.
12 September 2022, 02:20 AM
ADB scales up funding by 85pc
The Asian Development Bank would be providing $9.05 billion over the next three years, up 84.7 percent from the preceding three years, as the Manila-based lender is mobilising greater resources to prepare the country well for graduation from the LDC bracket in 2026.
12 September 2022, 02:00 AM
Tk 30cr lost in irregular purchase of Covid-19 medical equipment
Public hospitals in the capital purchased medical equipment at astronomical prices during the first four months of the Covid-19 pandemic in 2020, according to an audit report.
10 September 2022, 02:30 AM
Indo-Bangladesh Transshipment: Execution proving tricky
The much-talked-about transshipment facility for Indian goods to its landlocked northeastern states using Bangladesh’s two seaports and inland waterways, roads and rail network has failed to take off in a big way due to the absence of proper infrastructure and awareness.
6 September 2022, 02:00 AM
Govt to appoint consultant for Bay Terminal works
The government will appoint a German joint venture as the consultant for the construction of a breakwater and channel dredging work at the proposed Bay Terminal, a long-awaited project of Chattogram port.
1 September 2022, 03:00 AM