Economy

Political unrest costs Tk.17,150cr

  

PNS News : The political unrest in Bangladesh costs Tk. 17,150 crore which is one percent of its Gross Domestic Product (GDP), says a World Bank (WB) report.The World Bank disclosed the findings through placing their report titled `Bangladesh Development Update-2015` at a function held in capital on Sunday.The report said that Bangladesh faced huge financial losses worth around $2.2 billion (approximately Tk 17,150 crore) in the last three months due to political turmoil....

NBR chairman Urged to businessmen to give more taxes

  

PNS News : Chairman of the National Board of Revenue (NBR) Md. Nojibur Rahman has urged the businessmen to give more taxes and duties for the interest of country`s development. The NBR chairman said this while speaking at a pre-budget discussion at the NBR board room on Wednesday morning.Representatives of 44 hospitals, medical colleges, hotels, restaurants and service organizations participated in the first pre-budget discussion. Md. Nojibur Rahman said, "We want a pro-people and...

Pvt sectors playing significant role in economic growth: BB Governor

  

PNS News : Bangladesh Bank (BB) Governor Dr Atiur Rahman on Tuesday said that the private sectors were playing important role in economic growth in the country.The BB boss made the disclosure while addressing a workshop programme in the capital on the day."Country`s service, industry and agriculture sectors are being developed in a rapid manner," the BB Governor also added.The growth of Gross Domestic Product (GDP) is above 6 percent now in Bangladesh and it is more stayable than...

Halliburton`s proposal to be rejected

  

PNS News : A proposal that was submitted to the state-owned Petrobangla by the US multinational company Halliburton, in a bid to explore and develop the country`s gas fields, is going to be rejected.Petrobangla came up with the decision to reject the proposal as, according to them, the Petrobangla is well enough to develop the country`s gas fields with the help of Bangladesh Petroleum Exploration and Production Company Ltd (Bapex), independently. Petrobangla sources confirmed about the...

Muhith disagreed with FBCCI leaders about VAT

  

PNS News : Over the setting of Value-Added Tax (VAT) level, Finance Minister AMA Muhith disagreed with FBCCI leaders.The leaders of Federation of Bangladesh Chambers of Commerce and Industry demanded separate VAT for separate products but the Finance Minister did not agree with the demand.In a seminar, in this regard, held in the capital, the Finance Minister has opined," In all most of the country in the world have a unique VAT system.""For the reasons, the demands of the...

Bangladesh won`t achieve GDP target: IMF

  

PNS News : International Monetary Fund (IMF) Deputy Division Chief for the Asia and Pacific department Rodrigo Cubero on Tuesday said that Bangladesh could not achieve its GDP target in the 2014-15 fiscal year.Rodrigo Cubero came up with the comment while addressing a press conference at the Finance Ministry, this noon."The GDP target cannot be achieved for ongoing political unrest in the country," Cubero added.The IMF has forecasted Bangladesh’s economic growth at 6% in the...

US want to assist in garment sector

  

PNS News : US ambassador in Dhaka Marcia Stephens Bloom Bernicat assured Bangladesh to assist in garment sector but did not clear the issue of Generalized System of Preferences (GSP).The US envoy came up with the assurance while addressing a meeting with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders at BGMEA building in city`s Karwan Bazar area on Thursday.In the meeting, Marcia Stephens Bloom Bernicat said that Bangladesh achieved much progress in...

NBR chalk out new plan for revenue collection

  

PNS News : The National Board of Revenue (NBR) has chalked out a new plan taking into consideration the prolonged turmoil in the country for achieving its gigantic revenue collection target for the current fiscal.NBR chairman Mohammad Nojibur Rahman recently had meetings with its three wings -- Income Tax, VAT and Customs -- to find out the way for facing the challenges of the revenue collection amid the current situation.The budget for the current fiscal set an overall revenue...

Bangladesh`s economic advances will continue: D`Souza

  

PNS News : Praising Bangladesh`s economic development, the speaker of the House of Lords of the UK parliament, Baroness D`Souza, said that the economic development of Bangladesh would continue in future. D`Souza made the comment while meeting with the Prime Minister Sheikh Hasina at Gono Bhaban, in the capital, on Saturday. Prime Minister`s Press Secretary AKM Shameem Chowdhury came up with the disclosure while addressing in a press conference after the meeting between the duo....

Strikes is likely to pull down Bangladesh's credit ratings

  

PNS News : The ongoing political violence amid the BNP sponsored transport blockade interspersed with frequent calls for strikes is likely to pull down Bangladesh's credit ratings, the leading global ratings agency Moody's has said.At present, Moody's rating for Bangladesh is a stable Ba3. The present violence and the disruptions to trade and economic activity it is causing is described by Moody's as “credit negative” for Bangladesh.It said in a statement that these disruptions since...

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