Economy

`Budget not garment and industry-friendly`

  

PNS, Economic : Four top trade bodies- BGMEA, BKMEA, BTMEA and BGAPMEA, of the country`s garment and textile sector have described the `National Budget 2015-16` as `not at all garment and industry-friendly`. On behalf of four organisations, BGMEA President Atiqul Islam made the reaction at a press conference held at the BGMEA office in the city on Friday.At the press conference, they observed that the proposed tax raise at source on exports will hamper the flow of production in...

Cabinet okays budget for FY 2015-16

  

PNS : The cabinet approved the proposed national budget for 2015-16 financial year (FY16) in a meeting at Jatiya Sangsad Secretariat on Thursday noon.Prime Minister Sheikh Hasina presided over the cabinet meeting where Finance Minister Abul Maal Abdul Muhith and the cabinet members were present.The budget is believed to be a jumbo size of around Tk 295,100 crore, higher by Tk 44,540 crore or nearly 18.0 percent than original outlay of Taka 250,560 crore of FY15, officials...

Budget being placed in JS

  

PNS, Economic : Finance Minister Abul Maal Abdul Muhith has started to place the budget for 2015-16 fiscal year before the parliament on Thursday.Earlier, before placing the budget, the cabinet approved the proposed national budget for 2015-16 financial year in a meeting at Jatiya Sangsad Secretariat, this noon. Prime Minister Sheikh Hasina presided over the cabinet meeting where Finance Minister Abul Maal Abdul Muhith and the cabinet members were present.The budget is believed to...

GDP growth target to meet next FY- Planning Minister

  

PNS, Economic : Planning Minister AHM Mostafa Kamal on Tuesday opined, "The growth target of the Gross Domestic Product (GDP) in the upcoming fiscal year, 2015-16, will be achieved."The Planning Minister came up with the hope while addressing a programme at Agargaon area, in the capital, on the day.The first ten months of the recent fiscal year`s GDP has been reached to 6.51 percent while the GDP is Tk 15 lakh 13 thousands and 600 crore, confirms the Minister.While addressing the...

GDP growth now 6.51pc

  

PNS News : Bangladesh’s Gross Domestic Product (GDP) has been increased by 6.51 percent in the current fiscal year while it was 6.1 percent in the previous fiscal year. Planning Minister AHM Mustafa Kamal, informed journalists, in this regard, after a meeting, held in the capital on Thursday.Bangladesh’s economy and its growth rate and per capita income have been increased in the first current fiscal year despite political instability, says the Minister.The Planning Minister after...

Interest on savings certificates cut

  

PNS News : The government has cut interest rates on all saving certificates by up to two percent. Finance Minister AMA Muhith made the disclosure on Sunday in a pre budget discussion meeting with the parliamentary standing committee.To justify the move, Muhith said the interest rates have cut in a bid to ease the government`s debt burden. Savings certificate sale spiked abnormally due to high interest rates increasing the government`s debt, he also said. “If this continues,...

Economists suggest for implementable ambitious budget

  

PNS News : Finance Minister Abul Maal Abdul Muhith will propose the national budget for the FY 2015-16 giving priority to education, agriculture, human resource development and some other sectors, officials said.The new financial year that will be the second budget of the current government`s tenure will be started taking the challenges of price reduction of commodities, power shortage and inflation, added the officials.The experts and the prominent economists of the country said...

Inflation rises in April

  

PNS News : The inflation in the country witnessed a slight rise in last month (April) as it reached 6.32 percentage point that month, up from 6.27 percentage point in the previous month (March). “The general point-to-point inflation rate in April soared to 6.32 percentage point,” said Planning Minister AHM Mustafa Kamal while releasing the monthly consumer price index of BBS at the NEC conference centre.According to the latest update of the Bangladesh Bureau of Statistics (BBS), apart...

Atiur Rahman

BB Governor asked banks to cut lending rates

  

PNS News : Bangladesh Bank (BB) Governor Atiur Rahman asked banks to reduce their lending rates in accordance with their interest rates on deposits. The governor made the announcement while addressing the bankers’ meeting at his office on Thursday.“Banks cut the deposit rates, but did not reduce their lending rates accordingly,” the governor said, pointing out that at least 13 banks were still charging 14 per cent interest on credit while five banks did not bring down their interest rate...

WB to increase aid

  

PNS News : The World Bank and Bangladesh on Friday agreed to do more to develop the country’s transport and energy infrastructure and continue the dialogue on necessary reforms that would merit a Development Policy Credit in the country.The talks occurred during a meeting in Washington DC between World Bank Managing Director and Chief Operating Officer Sri Mulyani Indrawati and Bangladesh Finance Minister Abul Maal Abdul Muhith on the sidelines of the Spring Meetings of the World Bank...

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