Sri Lankan Army Chief meets Gen Mubeen

A delegation led by Sri Lankan Army Chief Lt Gen Jagath Jayasuriya paid a courtesy call on Bangladesh Army Chief General Mohammad Abdul Mubeen at army headquarters in the city on Wednesday, reports UNB.

Matters of professional interest were discussed during the meeting, said an ISPR release.

Earlier, Jagath Jayasuriya placed wreath at Shikha Anirban in Dhaka Cantonment to pay homage to armed forces members martyred in the liberation war.

A smartly turned out contingent of army gave him a guard of honour at Senakunja. He planted a sapling there.

Later, Sri Lankan Army Chief called on Principal Staff Officer of Armed Forces Division Major General Abdul Wadud at AFD, Dhaka Cantonment. He discussed matters of professional interests with him.

Source: thefinancialexpress-bd.com

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40th anniversary of BD-Myanmar diplomatic ties

CHITTAGONG, Jan 11: To celebrate 40th year of diplomatic relations between Myanmar and Bangladesh, Hotel Agrabad and Bangladesh-Myanmar Chamber of Commerce and Industry jointly organized 'Myanmar Live Cultural Show and Myanmar Cuisine' at Hotel Agrabad in the city on Monday.

Ambassador of the Republic of the Union of Myanmar Min Lwin was present as chief guest on the occasion. Honorary Consul General of Myanmar HM Hakim Ali and vice president of Bangladesh-Myanmar Chamber Yacoob Md Arif gave details about cultural, historical and brotherly relation between the two countries and urged the concerned authorities to further strengthen it in future.

Mr Lwin said there is high prospect of building greater relations based on friendship. Assistant High Commissioner of India in Chittagong Somnath Ghose and other dignitaries of the city were present.

Artists of Myanmar presented songs and dances which were enjoyed by the attending guests. A food festival of Myanmar was held on the occasion.

Source: thefinancialexpress-bd.com

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Pvt power cos allowed to import fuel oils

The Cabinet Economic Affairs Committee Wednesday approved a Power and Energy Ministry's proposal to allow private power companies, particularly the rental and quick plant operators, to import petroleum products on their own to run their plants, reports UNB.

The committee, with Finance Minister AMA Muhith in the Chair, also approved some other proposals including cancellation of appointment of Canadian firm Visual Defence Incorporation (VDI) for security-charge of Shah Jalal International Airport on allegation of forgery, de-liquidation of five jute mills and appointment of consultant for feasibility study to set up a third sea port at southern region of the country under public private partnership (PPP).

In the fuel import proposal, the Power Division mentioned that the private power plant operators should be allowed to import fuel because of the inability of the Bangladesh Petroleum Corporation (BPC) to supply required petroleum fuel for them.

At present, BPC is the only eligible authority to import and supply petroleum fuel across the country.

The Power Division said about 500 tonnes of furnace oil is required in 24 hours for generating 100 MW electricity in rental power plants. But it's not possible for BPC to supply such huge quantity of fuel.

The proposal outlined 9.0 per cent service charge to be paid to the private power companies for their import of petroleum oils under their own arrangement. This charge will be reviewed after one year.

Under the existing contract, the government is responsible for supply of fuel to the private power plants.

Experts in business circle, however, believe this new arrangement may create scope for brisk business for some power plant companies.

Source: thefinancialexpress-bd.com

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Ghulam Azam sent to jail

Ghulam Azam being taken to Dhaka Central Jail.The International Crimes Tribunal (ICT) Wednesday ordered to send Jamaat-e-Islami leader Ghulam Azam to jail rejecting the bail prayer for him, report agencies.

89-year-old Azam appeared before the tribunal following its order of January 9.

The three-member tribunal headed by Justice Nizamul Haque rejected the bail prayer after a long hearing from both prosecution and defence sides.

The tribunal, however, set February 15 to hear to frame charges against Ghulam Azam, the principal accused of committing crimes against humanity during the country's War of Liberation in 1971.

The defense counsel Barrister Abdur Razzak prayed bail for Azam on humanitarian ground mentioning his age and health condition. He in this connection referred to the decision taken about Abdul Alim, another war crime suspect.

The Tribunal on March 31 last year granted Alim's conditional bail considering his health condition, as he is unable to move without other's help.

Chief prosecutor Advocate Ghulam Arieff Tipoo opposing the defence counsel plea submitted that the cases of Alim and Azam are not of the same nature.

He said the tribunal granted bail for Alim when the investigation agency did not submit any elaborate report about him, but in Azam's case it is completely different.

Tipoo said the Tribunal already took the charges against Azam into cognizance on Jan 9, where the investigation agency detected 62 specific allegations of his involvement in crimes against humanity during 1971.

The court room was filled to the brim as the Jamaat guru's hearing began amid palpable tension.

Meanwhile, Ghulam Azam was shifted to Bangabandhu Sheikh Mujib Medical University (BSMMU) for health check-up from the central Jail.

He was brought to BSMMU at about 3:45pm. However, it could not be confirmed if he had any health-related complaints.

Various groups gathered on the tribunal premises with placards and festoons demanding trial of Azam.

Extra police were deployed to ensure security.

Source: thefinancialexpress-bd.com

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Public universities in need of revised budgetary allocation

Khairul Islam

The public universities will face acute financial shortage this year if the government fails to support revised budgetary allocation on time, sources said.

"We will not be able to provide salaries and other benefits to our teachers and employees in the upcoming months of the current fiscal year (FY) 2011-12 if we don't get revised budgetary allocation," Vice chancellor of Bangladesh University of Engineering and Technology (BUET) Prof SM Nazrul Islam told the FE Sunday.

He said some Tk 0.13 billion is needed to cover the expenditures of the institution in the current fiscal year as they had to prepare a deficit because of fund constraint.

The director of accounts of Dhaka University (DU) Ashraf Uddin said that they had been providing salaries to the teachers and employees by borrowing money from other sources.

Mr Uddin informed the FE that DU had incurred a debt of Tk 0.34 billion in the last financial year, but the amount was not adjusted in the current year by the UGC.

The debt will increase this year due to budget deficit, he added.

"We demanded of the university grants commission to allow around Tk 2.94 billion for the annual budget of the university but it allocated Tk2.77 billion," he added.

It was learnt that the revised budget of the university will be submitted to the University Grants Commission (UGC) at the end of the current month.

The authorities of UGC had sent a proposal to the ministry of finance to allocate Tk 0.8 billion to help support the revised budget of 31 public universities of the country this year.

Muhammed Ibrahim Kabir, director of Finance and Accounts Division of the UGC, said the concerned authorities had been showing reluctance to approve the revised budgetary allocation citing shortage of fund.

The official said the commission will sit with finance minister AMA Muhith on January 16 to discuss the issue.

Source: thefinancialexpress-bd.com

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Nov credit flow to pvt sector declines

Credit flow to the private sector declined further in November last year due mainly to selective banking instead of aggressive ones by the commercial banks.

The rate of private sector credit growth came down to 19.33 per cent in November last from 21.46 per cent of the previous month in the last calendar year, according to the central bank statistics.

"We're now following selective banking instead of aggressive ones in line with the existing monetary policy statement (MPS) of central bank," an official of a leading private commercial bank told the FE Wednesday.

In its latest half-yearly MPS, Bangladesh Bank (BB) stated that it would aim at containing inflationary pressures through discouraging credit flow to unproductive sectors and for speculative purposes including real estates and investments in stock market, beyond affordable limits.

Under the new monetary programme, credit growth rate to the private sector will be limited to 18 per cent by the end of fiscal year (FY) 2011-12 (FY12) from an estimated level of 25.5 per cent in June last.

The banker also said most private commercial banks are now discouraging investments in less productive sectors including consumers' credit.

"Trade financing has also been declined in the recent months because of short supply of the US currency in the market," he noted.

The local currency has been under pressure, leading to its depreciation recently against the US dollar mainly due to higher demand for the greenback for settlement of outstanding letters of credit (LCs) for import.

"Most commercial banks disbursed loans cautiously during the period under review because of adjustment of their credit-deposit ratio (CDR) in line with the directives of the BB," another senior official of a commercial bank said.

The central bank earlier set CDR at 85 per cent for conventional banks while in Sharia-based Islamic banks, it remains at 90 per cent as the safe limit.

The credit flow to the private sector increased by 19.33 per cent to Tk 586.197 billion in November last on a year-on-year basis from Tk 658.938 billion during the corresponding period of the previous year, the BB data showed.

"The private sector credit growth may decrease further in the coming months as the central bank has increased its policy interest rates recently," a senior BB official said.

He also said the central bank increased its policy interest rates twice during the current fiscal year aiming to curb inflationary pressure on the economy.

"We've used different monetary instruments including increased interest rates on repurchase agreement (repo) and reverse repo, aiming to help contain the current inflationary pressures," the BB official noted.

Source: thefinancialexpress-bd.com

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Resolve CG issue before EC formation: Khaleda

BNP chairperson Khaleda Zia Wednesday urged the President during her dialogue with him to take decision on restoration of the caretaker government system before formation of the new Election Commission, reports UNB.

"It won't be acceptable to the nation if the process of formation of the Election Commission starts before taking any decision on restoration of the caretaker government annulled by the present government," Khaleda said during the dialogue at Bangabhaban at 11:00 am.

BNP chairperson Khaleda Zia led a 15-member delegation of her party to the dialogue.

After the dialogue, BNP acting secretary general Mirza Fakhrul Islam Alamgir at a press conference at the party's central office at Naya Paltan at 1:00 pm described the outcome of the talks with President Zillur Rahman.

At the outset of the dialogue, Fakhrul said the President mentioned his jurisdiction as per 118 Article of the Constitution over formation of the Election Commission and wanted to know BNP's opinion over the matter.

Responding to the President, the BNP chairperson described the party's position.

Khaleda said the people of the country do not think that the process of the Election Commission is a key issue under the present political aspects following the amendment to the constitution.

She told the President that the key issue of the nation is to hold the next general election under a neutral and non-party caretaker government.

"So, it's essential to take a decision on restoration of the caretaker government system before formation of the Election Commission," she said.

"President Zillur Rahman said he has no authority to go beyond the Constitution," Fakhrul quoted the President as saying.

The BNP acting secretary general said as per provision of the Constitution, the President can only appoint the Prime Minister and the Chief Justice.

"In all other affairs, the President has to carry out his responsibility as per advice of the Prime Minister," he added.

Fakhrul said they are doubtful about the success of the President's initiative for the dialogue. Despite that they have urged the President to take initiative to resolve the present political stalemate for the sake of democracy.

Fakhrul said the President said though he has no authority about it, he will apprise the government of BNP's position.

When asked whether BNP's joining the dialogue with the President would help reduce the standoff between the main opposition and the ruling party, Fakhrul said this depends on the party in power.

"We have taken the positive step," he said adding that BNP believes in democracy and wants the continuation of the democratic process.

He said although they know that the President's power is limited, they joined the dialogue for maintaining the democratic process.

Replying to a question whether BNP will join the parliament, Fakhrul said they did not say that they will not go to parliament. Still, we want to go to the parliament, but the government will have to create an atmosphere.

He, however, said the BNP parliamentary party will take the decision whether they will join the next session of the parliament.

Asked whether the talks with the President were fruitful, the BNP acting secretary general said they went to the dialogue knowing that it would not be fruitful as the power of the President is limited.

He said they did not discuss the formation of the Election Commission.

Asked whether BNP's joining the dialogue was eyewash, he said they want the continuation of democracy. Under the given political impasse and unrest, they joined the president-initiated dialogue to apprise of their position.

Replying to a question about the two registered political parties that were not invited to the dialogue, he said they have informed the matter during the dialogue.

He said it was essential to invite the registered political parties and those who have representation in the parliament.

Asked about the Prime Minister's call to the opposition to discuss their demand in the parliament, Fakhrul said the Prime Minister will have to take initiatives for placing a bill in the parliament on restoration of the caretaker government.

During the dialogue, Khaleda mentioned that the problem that has been created by repealing the caretaker government system cannot be resolved by recasting the Election Commission.

She said BNP thinks that it is not possible to hold a free, fair, neutral and acceptable election under any partisan government.

Referring to the opinions of various professionals, including constitution experts, lawyers, intellectuals and political parties given to a parliamentary special committee on amending the Constitution, Khaleda said nearly all of them opined that the situation has not yet been created to hold the election under a political government by annulling the caretaker government.

She said a constitutional crisis has been created in the country following the annulment of the caretaker government system.

Under the circumstances, Khaleda said it is necessary to restore the caretaker government system and take a decision on appointing the head of the caretaker government.

If the initiative for such discussion is taken, BNP is ready to extend its cooperation in resolving the problem by joining that discussion, she said.

On Electronic Voting Machine (EVM), the BNP chairperson mentioned various loopholes and faults of the EVM and cited its disadvantages and non-transparency.

She also said the EVM system in some of the countries of the world has been dumped.

About the Election Commission, Khaleda said it is not working independently and cited some examples, including non-deployment of army in by-elections in Bhola and Narayanganj City Corporation polls and the overdue election to Dhaka City Corporation.

The BNP delegation members, who attended the dialogue, are Mirza Fakhrul Islam Alamgir, Dr RA Gani, Dr Khandaker Mosharraf Hossain, Barrister Moudud Ahmed, Lt Gen (retd) Mahbubur Rahman, Brig Gen (retd) Hannan Shah, MK Anwar, Barrister Jamiruddin Sircar, Mirza Abbas, Gayeshwar Chandra Roy, Dr Abdul Moyeen Khan, Barrister Rafiqul Islam Mia, Nazrul Islam Khan and Dr Osman Farruk.

Source: thefinancialexpress-bd.com

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DSE rejects sponsor-directors' plea for getting shares outside floor

Dhaka Stock Exchange (DSE) has rejected the proposal by some sponsor-directors who want to meet the requirement of the Securities and Exchange Commission (SEC) about their minimum shareholding, by obtaining or transferring the shares of others outside the trading floor, officials said Wednesday.

At the same time, the DSE has also said 'no' to the proposal of some sponsor-directors who want to sell off their shares to quit the board as they will not be able to fulfil the minimum quota required to maintain their "directorship", as set by the SEC.

The DSE has not agreed with the proposals as such sponsor-directors are now in the 'insider-trading category' because of the time framework that applies in their case.

DSE officials said some sponsor-directors of a chemical company had made proposals to transfer a significant volume of shares outside the trading floor at market price. But the DSE authorities turned down the proposal.

"Only the members of a family can transfer shares to one another outside the trading floor. But such sponsor-directors have intended to acquire the shares of others, who have no blood relation with them (sponsor-directors)," the officials said.

That is why the DSE rejected the proposals of transferring shares outside the trading floor, the official said.

"We have told them to transfer the shares through trading on the floor of the exchange at the prevailing market prices," he added.

On November 22, 2011 the SEC issued an order, stating that the sponsor-directors of any company listed with the stock exchanges will have to jointly hold at least 30 per cent of its stake. And individually each sponsor-director must hold at least two per cent of the stake.

Some sponsor-directors also approached the DSE to sell their shares as they will not be able to comply with the decision of the regulatory body, through purchasing the remaining volume of shares to meet the shortfall in their required amount of share-holding.

"The respective board of directors has also approved the decisions of such sponsor-directors to quit the board by selling out their shares. But such 'directors' will not now be allowed to sell out their shares as their year-end financial statements are yet to be approved by their boards," the DSE official said.

He said after the timeframe criterion relating to, what is known as, insider trading, such persons will be allowed to sell out their shares.

Under the insider trading rules, the sponsor-directors are not allowed to sell out the shares of their respective companies two months' prior to completion of the financial statements of such companies. They will be allowed to sell shares only after the approval of the financial statements by their respective board of directors.

Source: thefinancialexpress-bd.com

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BNP can discuss interim govt issue in JS: Suranjit

Minister for Railways Suranjit Sengupta has said that BNP has missed the bus twice on the issue of the now abolished caretaker government (CG), but gave a hint that any convincing formula of the opposition about the future interim government could be discussed in parliament.

Talking to UNB over phone Wednesday, he said BNP first missed the bus by not submitting their suggestion about the interim government at the parliamentary committee and again by not placing their formula in parliament when the 15th amendment to the constitution was passed.

Replying to a question, Suranjit said that according to the 15th amendment, the cabinet before the next general elections will be functioning as interim cabinet.

Asked if the interim cabinet could be constituted with elected representatives of all parties to give it a caretaker shape, he said it is too early to say about what would be the character of that cabinet.

On Tuesday, Awami League (AL) general secretary Syed Ashraful Islam said it is possible to discuss and resolve the caretaker issue in line with the constitution and the Supreme Court (SC) verdict.

Suranjit, also a member of the AL advisory council, however, said the issue at hand is how to work out a neutral, powerful election commission, and the President is holding political dialogue on it.

It is important to establish a strong election commission (EC) that would conduct the elections, he said, adding that according to the law, the entire administration would be placed under the EC at the time of the election.

He rejected BNP's observation that government conducts the elections.

Asked if still there is room for understanding on the pre-election interim government, Suranjit said: "Definitely, there are thousands of options. Let the BNP come to parliament and place their suggestions."

Source: thefinancialexpress-bd.com

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Why police reform is badly needed

Prime Minister Sheikh Hasina last week fulfilled some of the pledges she made to the country's police force last year. The number of grade-1 posts (of secretary level) in the police department was upgraded to five from two. Police inspectors have been promoted as first class officers and the sub-inspectors as second class officers. The Prime Minister also disclosed a number of incentives to be given to the police force at a function marking the Police Week, 2012.

However, insiders in the police department say most of the pledges the Prime Minister made to the police force still remain unfulfilled. Some of these pledges were solving the vehicle and housing problem, introducing special allowance for Special Branch (SB) and Criminal Investigation Department (CID) and opening several wings like tourist police, marine police, and security and protection battalion etc.

Since assuming office in 2009, the AL-led grand alliance government did take a number of steps to strengthen the police department by introducing more wings and procuring arms and some logistics, but those were far from actual requirements. The whole police department has only 6,000 vehicles -- half of which are motorbikes -- against a requirement of 20,000. Of the vehicles in hand, the incumbent government bought around 650 double cabin pickups and motorbikes over the last three years.

No initiative was taken so far to free the police from political influence. According to reports in the media, some top police officials appeared frustrated as the much-talked-about Bangladesh Police Ordinance, drafted in 2007, is yet to be implemented by the government. The ordinance in question appears to be caught in the home ministry red-tape. Due to absence of proper policy guidelines, the entire department remains a bit directionless. And that is why, the implementation of the draft Police Ordinance is deemed essential.

However, reforming police force requires a decision from the high-ups in the policy-making bodies. The ministry of home affairs is unable to advance even an inch without the green signal from the government. The draft ordinance sought to create an independent National Police Commission to recommend appointment of the police chief and posting of other high-ranking officials. It also has a provision for an independent Police Complaint Commission to check crimes within the force.

Usually, transfers and appointments in the force largely depend, allegedly, on graft and lobbying with the ruling political parties. For obvious reasons, police officers generally prefer remaining loyal to ruling party leaders following the standard rules of the game of their department. The draft ordinance sought to stop this practice. The ordinance says: "Direct or indirect influence in police investigation, law enforcement operation, recruitment, promotion, transfer, posting or any other function in an unlawful manner shall be a criminal offence."

Reports say a sub-inspector (SI) or an Inspector willing to take posting in an attractive destination needs to pay a high amount of money as bribe. A good number of job aspirants prefer police service for making easy speed money. Even for lodging a simple diary or first hand report (FIR) with the police station, speed money, as the allegations run, is very often required. The members of the police force are also allegedly involved in anti-social and criminal activities across the country. Releasing a notorious criminal from custody in exchange of bribe is a common affair. According to a study conducted by an international agency, Bangladesh police was seen as the most corrupt among all countries in South Asian region. This is very unfortunate for the law-enforcing agency of a poor country like Bangladesh.

Former state minister for home affairs and ruling party lawmaker Tanjim Ahmed Sohel Taj had reportedly resigned for failing to implement an initiative to reform the police force. He termed the incident as unfortunate. His sudden resignation as state minister for home last year created curiosity in political circles. In an interview with BBC on his return home from the USA recently, Sohel Taj said: "We pledged to make country corruption-free and reform the police. Police force is the main weapon to build a corruption-free country. We made commitment to reform police and make it a professional force free from corruption. But I could not do that and it pains me." Sohel Taj's observations point fingers to the urgency of police reform.

During hartals and siege programmes, police force is called to guard against acts of violence, loot, arson etc. Sometimes, police force acts violently to quell opposition demonstrations. For maintaining peace and security, such actions may be needed, but the point is -- they should not go beyond the dotted line. In fact, police excesses sometime cause embarrassment for the government itself.

Since members of the police and other security agencies are employees of the state and not of the party in power, successive governments used this force as their own weapons. This is an issue that the country's highest level of administration should take up for further review as the trend still continues. Unfortunately, some incidents on the political front cast serious doubt about police's non-partisan attitude. And this goes against the very basic principle of democratic government, embedded in proper functioning of institutional bodies.

In fact, restoration of people's confidence in police is the moot issue about the need for its reform. Proper training and change of mindset are pre-requisites for bringing about reform in the embattled police department. Deep-seated reforms of police department are needed to keep its personnel free from political influence-peddling and corruption. A force, full of renewed vigour and energy, will certainly help ensure peace and security of life and property to the citizens.

Source: thefinancialexpress-bd.com

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Muhith hopes positive WB decision on Padma Bridge within this month

Finance Minister AMA Muhith Wednesday said he was optimistic about a favourable decision coming from the World Bank (WB) on the release of its committed fund for the Padma Bridge at the end of the current month.

The decision of WB in disbursing the pledged fund is now pending with its President, Muhith added.

"I am expecting a favourable decision at the end of the current month so far as disbursement of the WB's committed fund is concerned," Muhith told reporters after a meeting of the Cabinet Committee on Purchase at the Cabinet Division Wednesday afternoon.

WB country director Ellen Goldstein, who earlier on the day met with the finance minister, in a statement also said the Bank would give a decision on the Padma Bridge funding within this month.

"We need to have further discussion to say anything positive to the press", she, however, told the FE while she was getting onto her car after meeting with the finance minister at the latter's secretariat office.

"Dialogue with the government will continue and more time will be needed to come to a decision," she added.

Muhith said situation has changed after reshuffling the portfolio of the former Communications Minister Syed Abul Hossain.

"The responsibility of dealing with the Padma Bridge construction is different now. We have changed the minister," Muhith told the reporters.

The finance minister said appointment of the construction consultants for the largest bridge of the country is being delayed for a Canadian investigation now in place against a consulting firm that was short-listed by the government and duly approved by WB.

The construction of Padma Multi-purpose Bridge became uncertain after the Bank had suspended its committed fund in October last year following allegations of corruption.

Muhith said no malpractice and irregularities took place in selecting consulting firms. He said if everything goes smoothly, we will be able to start construction of Padma Bridge from the next dry season, which begins from October-November.

The finance minister said the anti-corruption commission is now at the end of its investigation into alleged corruption charges against the immediate past communications minister. The investigation report is expected to be submitted within a week, he added.

Ms. Goldstein in her statement reiterated the bank's stand on the guarantee of good governance and transparency in the implementation of the mega infrastructure project.

"Good governance and transparency are of paramount importance for the World Bank in implementation of the Padma Bridge. We are still in discussions with the government on whether this can be ensured."

She met the Finance Minister a day after she returned from the WB headquarters.

Both Muhith and Goldstein, however, refrained from commenting on the outcome of the meeting to the press immediately.

The WB country director said the Wednesday's meeting with the Finance Minister was to brief him on her visit to Washington and seek his views on the way forward.

Commenting on the latest development, Economic Relations Division (ERD) Secretary Iqbal Mahmood said that work of the Padma Bridge project was never stopped and it was in progress.

"There is no incident of suspension of the Padma Bridge project. It is continuing and will also remain so," he told the FE.

Communications Minister Obaidul Quader also reiterated his optimism to the FE saying that the Padma Bridge construction will begin within a year.

"Whatever be the fund arrangement, the Padma Bridge construction will begin within a year," he added.

Source: thefinancialexpress-bd.com

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Under-construction Sirajganj power plant to be upgraded

The government has decided to upgrade the under-construction Sirajganj 150-megawatt (mw) power plant to 225mw combined-cycle station investing Tk6.79 billion more funds, officials said Wednesday.

Power Division officials said they would install a 75mw-capacity combined cycle unit with the under-construction 150mw gas-based power station in Sirajganj.

"Since the extra 75mw unit will not consume additional fuel and will be run by the produced steam from the under-construction 150mw plant, we have decided to install the combined cycle plant," a senior official of the Power Division said.

The state-owned North West Power Generation Company Ltd (NWPGCL) has already sought approval of the Planning Commission for the 75mw additional unit at a cost of Tk6.79 billion.

The company has sought Tk6.77 billion fund from the public exchequer while it will provide Tk13.89 million from its own resources for installing the unit.

The state-owned power generation company is now constructing the 150mw Sirajganj power plant at a cost of Tk9.62 billion in northern Bangladesh. The plant is scheduled to be completed by June this year.

The Asian Development Bank has confirmed its loan for the Sirajganj plant in June 2007. The ADB will provide Tk3.80 billion for constructing the Sirajganj plant.

The Power Division official said it would now require a total of Tk 16.41 billion for upgrading the 150mw under-construction power station to 225mw capacity combined cycle plant at Sirajganj.

Since the demand for electricity in the country's northern region is growing day by day, the planned 225mw power station at Sirajganj will give a big boost to the ailing power supply situation in the impoverished northern region, he added.

A Chinese firm, CMC, is working to set up the 150mw Sirajganj power plant.

"For the additional 75mw combine cycle power unit, we will float a fresh tender for appointing contractor to install the unit with the under-construction gas-turbine 150mw station which is expected to be completed within this calendar year", the Power Divisional official said.

According to project proposal, upgradation of the 150mw Sirajganj power station plant to a225mw one is planned to be completed by the next financial year (2012-13).

Source: thefinancialexpress-bd.com

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Hasan for effective plan to check unplanned urbanisation

Minister for Environment and Forests Dr Hasan Mahmud Wednesday said that effective policy and planning should be adopted immediately to check unplanned urbanisation of the country particularly for Dhaka city to ensure livable city life, reports BSS.

"Now it is time to find out ways and means for sustainable growth of Dhaka city as it is expanding in an unplanned manner making the city unlivable," he told a policy seminar 'Urban Bangladesh Challenges of Transition' at the CIRDAP auditorium in the city.

Prof Nazrul Islam, Chairman of Centre for Urban Studies, Country Director of World Bank to Bangladesh Ellen Goldsteign and Associate Professor Adnan Morshed of the School of Architecture and Planning, the Catholic University of America, Washington and other professionals, among others, addressed the seminar.

The cover of a book titled 'Urban Bangladesh Challenges of Transition' edited by Hossain Zillur Rahman was unveiled at the seminar.

Population of Dhaka city is growing fast as a large number of people are coming to the city every day for different purposes, Dr Hasan said adding Dhaka already has become unmanageable city due to tremendous pressure of increased people.

"The situation of Dhaka city will be worsened, if we fail to take proper plans to address emerging future challenges for sustainable development of the city," he added.

Other big cities including Chittagong also are witnessing mounting pressure to meet the demand of increased population; the minister said and added, a vast tract of arable land across the country is being lost due to unplanned urbanisation keeping a negative impact on the agriculture sector of the country.

Source: thefinancialexpress-bd.com

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Civil society leaders hail arrest of Ghulam Azam

Leaders of civil society expressed their satisfaction over the arrest of former ameer of Jama'at-e-Islami Ghulam Azam, saying that the arrest was imperative for holding the trial of war criminals as he was the principal organizer of anti-liberation forces during and after Bangladesh's liberation war, reports BSS.

His arrest has taken the ongoing trial of crimes against humanity a step ahead, they said, adding that it would also send a signal to their protectors at home and abroad that their evil designs would not be able to save the war criminals from trial.

"It is very much expected. He was the leader and chief of those responsible for committing crimes against humanity," said Prof Sirajul Islam Chowdhury while giving his reaction to the arrest of Ghulam Azam.

He said Ghulam Azam was not only active inside the country during the liberation war, he went to Pakistan to show his allegiance to the then Pakistani rulers.

"He was principal organizer and leader of those who have so far been arrested on charges of their involvement in crimes against humanity," Chowdhury added.

Executive director of Ain-o-Salish Kendra Sultana Kamal said Ghulam Azam was the leader of those involved in crimes such as killing, rape, arson and torture during the liberation war.

"It is a great relief for us. He should have been arrested much earlier," said Sultana Kamal, who is also a civil society leader.

She said Ghulam Azam had direct involvement in war crimes and there are recorded evidence against him. After 1975, Ghulam Azam and other war criminals were politically and socially rehabilitated and protected, she added.

"I feel relief...his arrest was imperative and overdue. We raised this demand about 20 years ago under the leadership of Jahanara Imam," said Shahriar Kabir, acting president of Ghatak Dalal Nirmul Committee.

"But his arrest is not enough...International Crimes Tribunal must be strengthened to complete the trial of crimes against humanity by 2013," he said. Shahriar Kabir said, BNP-Jama'at has been trying to foil the trial and they have been carrying out multidimensional campaigns at home and abroad.

"It is certainly a relief for us. Our generation as well as I had to wait over 40 years for it," was the reaction of Prof Muntasir Mamun.

"People were in doubt about the progress of war crimes but the arrest of Ghulam Azam would dispel such a doubt and increase their confidence in the trial," said the history professor of Dhaka University.

He said conspiracy is going on to foil the trial of war criminals and Ghulam Azam has been playing an active role. "His son has launched a campaign - 'save Ghulam Azam' - that was telecast on a Malaysian TV channel," he added.

Source: thefinancialexpress-bd.com

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IDRA comes up with orders to clip wings of insurance agents

Jasim Uddin Haroon

The Insurance Development and Regulatory Authority (IDRA) Wednesday issued a series of orders including cancellation of cost or adjustment of any claim, made by agents or persons involved with the business at the time of collection of premium payments by the policy-holders.

It is optimistic of resolving most of the problems relating to the life insurance companies through successful implementation of the orders.

Agents or others involved with the life insurance business often deduct different costs and claims, prior to submitting the premium earnings to their respective insurance companies.

Such adjustments lead to reduction in actual premium earnings by the life insurance companies.

The regulator has asked for paying agents' commission earnings, salaries and incentives through account payee cheques.

The IDRA also ordered all life insurers to introduce three-stage (or three-layered) business, in accordance with the provisions of the insurance act.

The move about 'three-stage business' comes as the country's eighteen life insurance companies have been maintaining nine to fifteen layers in their own way, defying the insurance act of 2010.

Such a multi-layered system of commission earnings by agents at multiple stages reduces the amount of actual premium earnings by the insurers to a substantial extent.

The three-layered system means that there will be only two officials under the main agents who work on a commission basis.

The regulator asked all life insurers to implement the three-tier system from the first day of February.

It also asked the life insurers to introduce their actuarial department which would be effective from March 30 next.

The decisions are the latest moves in a series of reforms initiated by the IDRA as it seeks to stamp out various irregularities and to ensure efficiency in one of the key financial sectors of the economy.

The IDRA officials said the regulator would monitor compliance with its orders by the life insurers.

IDRA chairman M Shefaque Ahmed told the FE: "The new orders will help boost actual premium earnings of the life insurers."

He said: "Most of the problems relating to life insurers will be solved thorough these orders."

The circulars signed by the IDRA chairman were sent to all life insurers Wednesday.

Source: thefinancialexpress-bd.com

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Khaleda urged not to side with war criminals

Industries Minister Dilip Barua on Wednesday urged opposition leader Khaleda Zia not to side with war crime suspects and hoped that she would accept the verdict of the tribunal after the trial, reports UNB.

Welcoming BNP's participation in the ongoing President's dialogue on Election Commission (EC) formation Barua said, "We hope BNP will play an active role in upholding the democratic system and implementing the spirit of the liberation war."

He was speaking at a discussion at Dhaka Reporters' Unity in the city as the chief guest. Bangabandhu Sangskritik Jote arranged the discussion marking Bangabandhu's Homecoming Day with its central leader Jahangir Alam in the chair.

Awami League (AL) presidium member Satish Chandra Roy, AL leader Shah Alam Murad, Krishak League leader advocate Shamsul Haque Reza and MA Karim, among others, spoke at the programme.

Source: thefinancialexpress-bd.com

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BNP clarifies ISPR statement on Khaleda's remarks

BNP has clarified ISPR's statement on Khaleda Zia's remarks at a public meeting in Chittagong city on Monday, reports UNB.

In a press statement on Wednesday, BNP said the press release issued by Inter-Services Public Relations (ISPR) on BNP chairperson Khaleda Zia's speech at its grand rally in Chittagong concluding its road march has drawn its attention.

It said the words used in the ISPR release on the speech of opposition leader Khaleda Zia were 'unwarranted and unfortunate'.

The BNP press release said a good number of army officers were picked up in the last three years and reports on their disappearances and the lack of knowledge about their whereabouts by their families were carried by different newspapers and circulated through various social networks.

"Under the circumstances, it's normal to assume that the person whose whereabouts cannot be known is disappeared," the press release said adding that the opposition leader has stated about the disappearances of army officers.

It said Khaleda, in her speech, said about the government's sacking and harassing of military officers who had protested the Pilkhana BDR Headquarters carnage. "It's not understandable to them or the countrymen which words of the BNP chairperson's speech is untrue," the release added.

The ISPR has been used to misinterpret the opposition leader's speech as the Defence Ministry remains under the Prime Minister, the BNP release alleged.

The Inter-Services Public Relations (ISPR) on Tuesday said opposition leader Khaleda Zia's allegation of disappearance of army officials is false.

Source: thefinancialexpress-bd.com

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PM urges India to be liberal in resolving bilateral issues

AGARTALA (Tripura), Jan 11 (UNB): Prime Minister Sheikh Hasina Wednesday urged the Indian government to come forward with liberal mindset to resolve issue of sharing waters of the common rivers.

"There are many bilateral problems among us. India needs to take the lead in resolving the issues through discussions," the prime minister said addressing a meeting of business leaders of Bangladesh and Tripura at Pragna Bhavan in the evening.

Hasina said her government is willing to procure electricity from Tripura to meet the growing demand in Bangladesh.

"We are interested to procure electricity from Tripura, directly or on partnership basis," she said.

The Confederation of Indian Industry (CII) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) jointly arranged the meeting in cooperation with the Tripura government.

Foreign Minister Dr Dipu Moni, Indian Union Minister for Human Resources Development Kapil Sibal, Tripura Chief Minister Manik Sarker and Industries Minister Jitendra Chowdhury, FBCCI president AK Azad and CII official Shekhar Dutta also spoke on the occasion.

Mentioning that there is immense potential in the information technology (IT) and telecommunication sectors, Hasina urged businessmen from both Bangladesh and India to tap the potentials and derive their benefit.

She said the mutual cooperation depends on the political will of the two governments. "Presently, this political will is prevailing among us," she said.

The prime minister hoped that the businessmen will come forward to implement the political will of the two governments to benefit the people of Bangladesh and India, especially Tripura.

She said the governments of Bangladesh and India have taken steps introducing 'border haat' to facilitate the growers to get fair price of their products.

The two countries are working to remove the non-tariff barriers and improve the facilities at the land ports, she added.

Hasina urged the Indian investors to make more investment in Bangladesh and also requested the business community of Tripura to import goods from Bangladesh in a big way.

Citing the long standing trade imbalance between India and Bangladesh, she thanked the Indian prime minister for recently withdrawing duty on 46 garment items of Bangladesh in Indian market, which was followed by allowing duty-free access of all items under SAFTA agreement.

The decision has created an opportunity for access of Bangladeshi products to the Indian market at competitive prices, she added.

The prime minister said Bangladesh is the biggest importer of Indian goods in South Asia. Bangladesh's import from India amounts to over US$ 3 billion per year against its meager export of $ 250 million.

She said decisions have already been taken to allow transporting goods to India from Chittagong and Mongla sea ports as well as the use of Ashuganj river port for carrying cargos to Tripura via Akhaura-Agartala.

She mentioned that the decision that allows transporting cargos to Palatana power plant in Tripura is putting immense pressure on the existing infrastructures of Bangladesh.

Hasina said the Bangladesh government has also taken the decision to establish rail link between Akhaura and Agartala, and construct a bridge over the Feni River, apart from constructing a new land port at Sagrom-Ramgarh point.

Emphasising improved connectivity for enhancing bilateral relations, she said the geographical location of Bangladesh is very important for road, rail, waterways and air communications.

The prime minister also recalled that during her previous tenure from 1996-2001, direct bus services from Dhaka-Kolkata and Dhaka-Agartala were launched.

Meanwhile, Prime Minister Sheikh Hasina arrived in Agartala on a 2-day visit to the Indian state of Tripura by a special flight of Biman Bangladesh Airlines at about 3:10 pm (local time) at Singerbhil Airport here.

The Union Minister for Human Resources Development of India Kopil Sibal, Tripura Chief Minister Manik Sarkar and Industries Minister Jatindra Chowdhury received her at the Singerbhil Airport.

After the ceremonial reception, Sheikh Hasina was taken to the state guesthouse at Kunjaban township where she will be staying during her visit.

During her stay in Tripura, Hasina will attend the convocation of Tripura University and discuss boosting trade at a meeting with the business community.

Source: thefinancialexpress-bd.com

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