The much-talked 16th amendment bill to the Constitution, which aimed at restoring parliament’s authority to impeach Supreme Court (HC) judges on charge of misconduct and incapability, will be placed in the House on Sunday, official sources said on Thursday.Law Minister Anisul Huq will place the bill before the Jatiya Sangsad (JS) on September 7, a senior official of the Parliament Secretariat told the New Nation preferring anonymity. He said: “We have already received the 16th amendment bill from the Law...
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The central bank is going to relax the rules about consumer credit in an apparent move to boost bank loan remaining stagnant in the last two years amid sluggish investment climate resulted from political unrest and energy crisis, sources said on Thursday.The prevailing sluggish trend of investment has led to the piling up of an excess liquidity of about Tk 100,000 crore in the banking system. Of the amount, Tk 24,700 crore remained almost idle causing concern to the authorities...
Local brands and products having international standards and quality are now getting huge response from the consumers causing a backlash for expensive foreign goods, analysts and entrepreneurs said on Monday. They said, two decades ago, local consumers starved for foreign brands, from soap to cloths, causing a setback for locally manufactured products. But, the situation has changed rapidly as the consumers now favoured local products over foreign goods due to their competitive price and quality. “Twenty years ago, anything with...
Dhaka Metropolitan Police (DMP) is going to launch a special drive from Saturday night in order to arrest growing crime in the capital. Earlier, the authorities of DMP at a meeting decided to launch the drive reviewing the prevailing law and order situation. The meeting held at DMP headquarters recently was presided over by DMP Commissioner Benzir Ahmed. High officials of the city’s police department were also present.Admitting the matter, Abdul Jalil Mandal, Additional Police Commissioner of DMP told The...
The readymade garments industry witnessed a lofty growth in exports in the European Union (EU) during the fiscal year 2013-14 despite a string of deadly industrial accidents and concerns over the rights of workers in the country’s garment factories, insiders said.Apparel exports to the EU grew by 17 per cent to $14.75 billion during the fiscal year 2013-14 over the corresponding period of the previous fiscal (2012-13). Garments export to EU during the fiscal 2012-13 stood at $12.56 billion, according...
When the illegal outflow of capital from Bangladesh is going on unabated, the regulatory bodies are yet to come up with any effective measure to prevent the crime posing a potential threat to the country’s future economic prospect, experts and official said.They said, local businessmen, industrialists, politicians and high government officials have siphoned off huge money to various countries in the recent years taking advantage of poor oversight by the country’s regulatory bodies, including Bangladesh Bank (BB), the Anti-Corruption Commission...
Economists on Sunday called upon the government to remove the existing roadblocks to investment to accelerate growth and poverty reduction.They said, poor infrastructure and road connectivity, uneven regulatory framework and corruption have created barriers to investment and without rapid improvement in these areas, Bangladesh may not achieve the optimum economic growth targeted in its ‘Perspective Plan.’ The Perspective Plan (2010-21) targets annual real GDP growth rate to rise to 8.0 per cent by 2015, and further to 10.0 per cent...
Business leaders on Wednesday expressed concerned over the dilapidated condition of Dhaka-Chittagong highway and urged the government to take all-out efforts to repair the damaged portion of the road immediately to maintain smooth transportation of commodities and export deadlines.They also said that the prevailing deplorable condition of the 465 kilometer highway was not only disrupting transportation of export-import cargoes but also raising the cost of business. The business leaders also called upon the government to speed up construction of the...
Journey on the city roads, lanes and by lanes has turned a nightmare for motorists and pedestrians mainly due to...
About 157,800 tons of unsold sugar valued worth Tk 631.20 crore is lying in the godowns of Bangladesh Sugar and Food Industries Corporation (BSFIC) leading it to huge financial hardship, sources said.Admitting the matter a senior BSFIC official told The New Nation on Friday that the Corporation is now facing huge financial difficulty having a massive stock of unsold sugar.He said, the authorities of BSFIC earlier lowered its sugar price to offload stocks but the move did not yield any...
Over Tk 1 crore went down to the drain as the authorities concerned have called off the salvage operation of the sunken passengers launch Pinak-6 in the river Padma keeping the task unfinished. The authorities reportedly spent over Tk one crore to salvage the launch that capsized in the river Padma, 800 yards from Mawa Launch Terminal on August 4, official sources said.Sources said, the launch was carrying more than 200 passengers on board. Bodies of 46 victims have so...
The government has moved forward to implement a work plan, under which it will ensure harmful organism-free exports of fruits and vegetables to the European countries, officials said.The Ministry of Commerce (MoC) is preparing the plan with the help of the Ministry of Agriculture to be finalized by August 15, a high official of MoC official told The New Nation Friday. He said, the plan would be implemented in line with the requirements of the European Union (EU) that threatened...