IOCs can now export gas
International oil companies will now be able to export gas explored from Bangladesh’s offshore blocks in the Bay.
The government has reintroduced the provision for export of gas by the drilling companies in the Offshore Model PSC 2019. This will not be applicable for onshore blocks.
2 September 2019, 18:00 PM
Graduation to Developing Country: Bangladesh to lose $7b in exports a year
Bangladesh stands to lose $7 billion in export earnings every year once it graduates into the developing country bracket in 2027 as the trade benefits it currently enjoys will be phased out then, a Planning Commission report says.
1 September 2019, 18:00 PM
IMF projects 7.6pc GDP growth this fiscal year
The International Monetary Fund (IMF) has projected Bangladesh’s economic growth to be 7.6 percent this fiscal year, which is 0.6
24 August 2019, 18:00 PM
Govt’s borrowing from banks almost half of its plan
The government’s bank borrowing last fiscal year was almost half of what it had planned to, thanks to its lower development expenditure and higher sales of national savings certificates, much to the relief of the cash-strapped banking sector.
17 August 2019, 18:00 PM
High growth, fewer jobs
Bangladesh’s tremendous economic growth has been unable to create jobs proportionately over the past decade, raising questions about the significance of the growth for a large section of the population.
16 August 2019, 18:00 PM
Record foreign aid in the pipeline
Foreign aid in the pipeline surged to a record $48.11 billion at the end of the last fiscal year and Bangladesh, despite spending more of the committed money, keeps on failing to reach its targets of utilisation.
27 July 2019, 18:00 PM
214km Dhaka-Sylhet Highway: ADB to fund its expansion into four lanes
The impasse over financing of the expansion of 214-kilometre Dhaka-Sylhet Highway into four lanes is likely to end soon, as Asian Develop-ment Bank has given “consent” to fund the project, officials said.
24 July 2019, 18:00 PM
10 Mega Projects: Five pick up pace, finally
After initial delay, half of the 10 first track mega projects have finally gotten some momentum, ushering hope for positive change in the country’s economy and people’s livelihood.
21 July 2019, 18:00 PM
China-funded Projects: Joint body to probe slow pace
A joint working group will be formed to probe the slow progress of the 27 projects involving around $20 billion that China had agreed to provide during President Xi Jinping’s Dhaka visit in October 2016.
17 July 2019, 18:00 PM
Govt formulates strategy to raise revenue collection
The government has devised a strategy to ramp up revenue collection by Tk 60,000 crore in the new fiscal year in order to help the National Board of Revenue (NBR) reach its tax mobilisation goal.
11 July 2019, 18:00 PM
Subsidy burden gets heavier
The government’s subsidy expenditure has soared 29.36 percent to Tk 46,385 crore this fiscal year largely due to its concessions on demands from pressure groups.
7 July 2019, 18:00 PM
India-funded $7.5b projects move at snail’s pace
Projects involving about $7.5 billion under the three Indian lines of credit are progressing slowly owing to lengthy processes in land acquisition, change in design and delays in hiring consultants and document preparation.
4 July 2019, 18:00 PM
No handouts for state banks last fiscal year
State banks did not get a single penny from taxpayers in the just concluded fiscal year to make up their capital deficit, in a clear sign from the government of its intent to stop pampering the errant lenders.
3 July 2019, 18:00 PM
MPO spending tops Tk 15,000cr
With around 3,000 more educational institutions coming under the monthly pay order scheme anytime soon, the government has proposed to allocate Tk 15,001 crore this fiscal year for salaries of all the teachers and staff on the MPO list.
3 July 2019, 18:00 PM
Banks to transfer incentive to accounts of remitters
Banks will transfer incentive to the bank accounts of remitters or their beneficiaries like they do in case of exporters as the maiden
1 July 2019, 18:00 PM
Swiss Banks: Bangladeshis’ deposits rise to Tk 5,341cr
Bangladeshis’ deposits in Swiss banks increased by 28.33 percent year-on-year in 2018 to 617.72 million Swiss francs or Tk 5,341 crore, according to the Swiss National Bank (SNB).
27 June 2019, 18:00 PM
Chemical warehouses to be temporarily moved to Gazipur
The government is going to shift chemical warehouses of Old Dhaka to Kathaldia in Gazipur’s Tongi temporarily, as the long-time plan to set up a permanent hub will take time.
16 June 2019, 18:00 PM
Public enterprises incur Tk 4,325cr losses
After a span of five years, state-owned enterprises jointly incurred a loss in the outgoing fiscal year largely because of Bangladesh
12 June 2019, 18:00 PM
Three major challenges
Former finance minister AMA Muhith has said his successor faces three major challenges: increasing the size of the national budget, realising more revenue and improving the banking sector.
11 June 2019, 18:00 PM
Less ambitious, more realistic
In a break from the past, Finance Minister AHM Mustafa Kamal will set a more realistic revenue income target in his maiden budget, but may shy away from undertaking some much-needed economic reforms.
11 June 2019, 18:00 PM