4g services by march 2 biman's turnover hit … news flash, 15th january, 2018 3 on thursday wimax...

Daily News Flash, 15th January, 2018

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DSEX 61.42 Gold (Ounce) $1338.30 Dollar 82.80 (Buy) 82.80 (Sell) CSCX 111.92 Oil (Barrel) $64.40 Euro 100.89 (Buy) 100.92 (Sell)

4G SERVICES BY MARCH .................................................................................................................................. 2

BIMAN'S TURNOVER HIT BY DIRECT CARGO BAN TO UK .................................................................................. 3

BERGER PAINTS TO FORM TK 60CR JV WITH UK FIRM ..................................................................................... 4

APPAREL WAGE BOARD FORMED TO AVERT UNREST ...................................................................................... 5

BRAC SAAJAN EXCHANGE TO OPERATE IN EU .................................................................................................. 6

ERA INFOTECH TO INSTALL PALLI SANCHAY'S BANKING SOFTWARE ................................................................ 6

NGOS UNDER NBR SCANNER ........................................................................................................................... 7

NO BAR ON BTRC'S 4G SPECTRUM AUCTION FOR TELECOMMUNICATION INDUSTRY NOW ............................ 7

BD WORST AMONG SA COUNTRIES IN PRODUCTION READINESS INDEX ......................................................... 8

GOVT FORMS WAGE BOARD FOR RMG WORKERS ........................................................................................... 9

BANKS INTEREST RATE SPREAD FALLING ........................................................................................................ 9

STOCKS TUMBLE ON SALE PRESSURE ............................................................................................................. 10

BOURSES TO DELIST BRAC BANK BOND TODAY ............................................................................................. 11

ENGINEERING SECTOR LEADS TRANSACTION CHART ..................................................................................... 11

GERMANY TO GIVE 337.2M EURO FOR ENERGY, CLIMATE PROJECTS ............................................................ 12

SONALI BANK GETS NEW GM ......................................................................................................................... 13

SC UPHOLDS ORDER VACATING HC STAY ON 4G LICENCE DISTRIBUTION ....................................................... 13

MCCI WANTS PRO-ACTIVE STATE BODIES TO EASE DOING BUSINESS ............................................................ 13

PDB WANTS TK 8,120CR IN GOVT SUBSIDY FOR FY18 .................................................................................... 14

DIGITALIZATION OF FINANCIAL SECTOR A MUST FOR BUSINESS GROWTH .................................................... 15

GOVERNMENT FORMS NEW WAGE BOARD FOR RMG SECTOR ...................................................................... 16

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4G SERVICES BY MARCH Mobile internet users, especially in city areas, can brace themselves for super-fast data service from March as all operators are set to roll out 4G service, said the top brass of the telecom regulator yesterday. The Bangladesh Telecommunication Regulatory Commission yesterday received five applications for licence to provide 4G service, which will ensure 20 Gbps speed even from mobile phone. State-run Teletalk and now out-of-service Citycell also applied for licences. All the private entities will now sit in the spectrum auction scheduled for February 13. However, Teletalk will not attend the auction as they have not applied for spectrum, said Shahjahan Mahmood, chairman of the telecom regulator, at a press conference at his office. Maybe Teletalk thought their existing spectrum was good enough for offering 4G data service. The state-run operator currently has 25 Megahertz of spectrum across three bands. After getting the licence and paying the spectrum fees, the mobile operators can offer 4G service to their customers, Mahmood said. We have been informed that all the top operators are technically ready to offer this service. Market sources said the top three private mobile operators are prepared to roll out 4G service and currently working on converting the SIM cards and developing the ecosystem. Mahmood said, after launching this fastest mobile data service the country will move one step closer towards digitisation. The BTRC has already formed two separate committees to evaluate the applications for licences and spectrum auction; the qualified applications' list will be published on January 25. A mock auction will be organised on February 12. Citycell, which stopped providing service in October 2016, is also preparing to re-enter the telecom business after it got a foreign investor, according to one of its top executives. All mobile operators that have 3G capability will qualify for 4G licences if their documentations are in order. However, since Citycell does not have 3G, it will have to purchase spectrum from the auction. Though the BTRC has put a provision in the 4G guideline to facilitate participation of new entities, there was no new application. It is tough to get any new party but if any application is received the BTRC will send it to the government for their consideration. We have not shut the door to foreign investors, Mahmood said. Earlier in the day, the Supreme Court cleared the way for the BTRC to give out 4G licences after it extended its chamber judge's order that stayed a High Court directive halting the auction.


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On Thursday WiMAX operator Banglalion filed a writ petition on publishing advertisement for awarding 4G licence. Banglalion got the stay order and on the same day chamber judge halted the order. According to the BTRC guideline, operators have to pay an application processing fee of Tk 5 lakh, a licence fee of Tk 10 crore and an annual fee of Tk 5 crore over the 15-year licensing tenure for 4G. All the licensees will have to deploy 4G network across the country within three years of getting the licences, according to the guideline. At the auction, the BTRC will place a floor price of $27 million for per MHz in the 2,100 MHz band; a total of 25 MHz spectrum will be made available. It will also put up for sale 18 MHz in the 1,800 MHz band and 3.4 MHz in the 900 MHz band, both starting off with $30 million per MHz. Operators will have to pay separately for technological neutrality of their exiting spectrum if they want to offer any service (2G/3G/4G) from any of their frequencies. If any operator makes its entire spectrum neutral it will have to pay $4 million for each MHz. However, for partial conversion the charge will be $7.5 million for each MHZ. And in every segment 15 percent value-added tax will be applicable. BTRC is not expecting higher earnings from spectrum sale but a significant amount will come from technological neutrality fee, said a commissioner of the regulator. As per the BTRC's rough estimation, the government can earn Tk 11,000 crore if the entire spectrum is sold out. Though the guideline has been amended twice, the private mobile operators still have some worries about unresolved issues concerning VAT, the fibre optic network and the mandatory speed of 20 mbps. The BTRC last arranged an auction for 3G spectrum in 2013 and the operators rolled out the service right after. Source: http://www.thedailystar.net/business/telecom/4g-services-march-1519876

BIMAN'S TURNOVER HIT BY DIRECT CARGO BAN TO UK Biman's cargo business shrank 22.54 percent last fiscal year on the back of the ban on direct freight flight from Dhaka to London. In fiscal 2016-17, Biman earned Tk 244 crore from its cargo business in contrast to Tk 315 crore a year earlier. The state-run carrier transported 33,542 tonnes of cargoes last fiscal year, down 18 percent year-on-year. The British government on March 8, 2016 slapped the ban on direct cargo flights from Dhaka to London after Biman failed to pass the safety and security tests. It is a huge loss for our country, said Kazi Wahidul Alam, the editor of the Bangladesh Monitor, an aviation and tourism fortnightly. Biman is the only carrier that operates direct flights between Dhaka and London and is now running four flights a week. Before the ban, Biman used to earn Tk 40 lakh to Tk 50 lakh each flight from carrying cargoes: some 25 to 30 tonnes of cargoes, mostly apparel and vegetables, were shipped in each of the flights to London. We are losing in two ways due to the ban, said Alam, also the managing director of Airspan, which represents different airlines as their passenger and cargo general sales agent. First, the direct loss of business and second, almost all the other private and foreign airlines have increased the carrying charge because of the need to rescreen goods in a third country. Now, the airlines charge between $2.65 and $2.70 for carrying a kilogram of goods from Dhaka to any destination in the EU. Even as recently as the middle of last year, the charge was $1.70 to $1.80. The ban was supposed to be lifted in December, but the British government instead imposed 10 more terms and conditions after the current facilities left a British expert underwhelmed, Alam said.

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As of now, the Civil Aviation Authority of Bangladesh has set up the ETD (explosives trace detection) machine and deployed a British company for screening of the goods. Still the British government called for further improvement of the situation, he added. Shakil Meraj, general manager for public relations of Biman, acknowledged the substantial loss of business as a result of the ban by the UK government. Biman has direct flights only with London in Europe, so the UK ban has affected Biman negatively. Until 2007, the national flag carrier ran flights to Frankfurt, Amsterdam and a few other European cities. The routes were commercially not viable, so the flights were discontinued. At present, Biman is carrying some cargoes to the EU through third-party airlines such as Emirates and Etihad but the amount is very little, Meraj said. The EU, where more than 54 percent of Bangladesh's exports are headed, has declared the Hazrat Shahjalal International Airport a 'red zone' due to insufficient safety and security measures, following the lead of the UK, Australia and Germany. With the ban in place, the EU-bound cargo airlines from Bangladesh have to rescreen goods in a third country, preferably Dubai, Qatar, Thailand and India. As a result, it takes more time to carry goods from Bangladesh to London, exporters said. The government should launch intense diplomatic efforts for lifting the ban on direct cargo flights between Dhaka and London, Alam added. Exporters take 1,000 tonnes of goods to the airport a day, of which nearly 700 tonnes are apparel items, according to industry insiders. Source: http://www.thedailystar.net/business/bimans-turnover-hit-direct-cargo-ban-uk-1519873

BERGER PAINTS TO FORM TK 60CR JV WITH UK FIRM Berger Paints Bangladesh plans to expand its business by setting up a joint venture with UK-based construction solutions provider Fosroc International with a combined investment of Tk 60 crore. The board of directors of Berger will soon sign a deal with Fosroc, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website yesterday. Berger will invest Tk 30 crore and hold 50 percent share in the new entity, Berger Fosroc Ltd. It will manufacture all kinds of construction materials, chemicals and related technologies. The firm will mainly work to improve the quality of construction materials with the help of state-of-the-art technologies, said Rupali Chowdhury, managing director of Berger Paints Bangladesh. We will develop a professional group by providing them with training on latest construction technologies. Berger expects to reach the break-even point in four to five years, Chowdhury said. One of the oldest names in the paint industry, Berger Paints Bangladesh made a profit of Tk 69 crore in the half year that ended in September 2017, according to DSE data. In Berger Paints Bangladesh, sponsor directors hold 95 percent of the share, public 0.38 percent, institutions 2.56 percent and foreign shareholders 2.06 percent. The company's shares rose sharply after the disclosure of the expansion plan. The price of its share increased by Tk 71 or 3.36 percent to close at Tk 2,186 yesterday from that of Thursday. DAILY MARKET: Dhaka stocks witnessed a sharp fall in price index amid sluggish turnover because of low participation of institutional and foreign investors. The prime index, DSEX, shed 61.42 points, or nearly 1 percent, to close the day at 6,117.89. Daily turnover also fell 14 percent to Tk 328 crore from the last day of trading. Institutional investors have refrained from making fresh investments in the market as

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they are waiting for the upcoming monetary policy of the central bank, a top executive of a merchant bank said. The market naturally remains volatile before the announcement of a monetary policy, the official said. It will become stable with the increasing participation of institutional investors. Bangladesh Bank plans to reduce the advance deposit ratio (ADR) in the new monetary policy for the January-June of 2018, which is scheduled to be announced this week. Banks have already started hunting for deposits at increased interest rates to adjust to the higher ADR, a central bank official said. Yesterday, the market opened on a flat note and witnessed a freefall amid a broad sell-off throughout the session, UCB Capital Management said in its daily market analysis. Engineering equities led the turnover chart accounting for 23.39 percent of the total turnover. All of the major sectors witnessed moderate correction. On the DSE, 48 securities gained, 253 declined and 34 remained unchanged. The DS30 and DSES indexes were 17.74 points and 7.22 points in the red respectively. BD Thai was the highest traded share with its securities worth Tk 13.89 crore changing hands followed by Ifad Autos with Tk 13.69 crore worth of shares. Source: http://www.thedailystar.net/business/berger-paints-form-tk-60cr-jv-uk-firm-1519870

APPAREL WAGE BOARD FORMED TO AVERT UNREST The government yesterday formed a wage board that will recommend a minimum salary scale for the country's 3.6 million garment workers within six months. Md Mujibul Haque, state minister for labour and employment, announced the formation of the board at his secretariat office in Dhaka. The constitution of the board aims mainly at averting labour unrest. Massive demonstrations by hundreds of workers in Ashulia and Savar in December 2016 for a wage hike prompted nearly 100 factory owners to shutter their production units. The factories were reopened after a negotiation with the labour ministry and trade unions. We want the minimum wage to be set at Tk 16,000 or $200 as the prices of basic commodities like rice went up abnormally in the local market, says Nazma Akter, president of Sammilito Garment Sramik Federation, a garment workers' rights group. Akter, the workers' representative to the 2006 board, said rice prices went up to Tk 60 and above. House rent also increased a lot earlier. So, we want a big hike now. Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said two workers' rights groups submitted proposals to the BGMEA in writing for taking measures to form the wage board two months ago. We immediately suggested that the government form the board to increase the salary of workers, he told The Daily Star over phone. The BGMEA sent a proposal to form the wage board to the labour ministry in August last year. A four-member permanent wage board already exists. Whenever a board is announced afresh, two additional members representing owners and workers are usually included. The permanent board is led by Senior District Judge Syed Aminul Islam. The other three members are Kazi Saifuddin Ahmed, labour adviser to the Bangladesh Employers' Federation (owners' representative); Fazlul Haque Montoo, executive president of Awami League's workers front Sramik League (workers' representative); and Kamal Uddin, a teacher of the University of Dhaka (independent member). The state minister appointed Begum Shamsunnahar, women affairs secretary of Awami League, as workers' representative, and Rahman of the BGMEA as owners' representative as the new members. The minimum wage was last fixed at Tk 5,300 in 2013, up from Tk 3,000 in 2010, Tk 1,662.50 in 2006, Tk 940 in 1994 and Tk 627 in 1985.

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Source: http://www.thedailystar.net/business/apparel-wage-board-formed-avert-unrest-1519867

BRAC SAAJAN EXCHANGE TO OPERATE IN EU The Bangladesh Bank has given the go-ahead to Brac Saajan Exchange, the UK subsidiary of Brac Bank, to expand its business activities into the European Union in preparation of the Brexit. Brexit, which is the prospective withdrawal of the UK from the EU in March 2019, will restrict Brac Saajan's market to only the UK, said Selim RF Hussain, managing director of Brac Bank. So, the exchange house will now set up a 100 percent-owned subsidiary in Portugal to run its remittance business in the EU. The development comes at a time when remittance inflow from the UK is on the decline while that from the EU is on the rise. Last fiscal year, $808 million flew in from the UK as remittance, down 6.82 percent year-on-year, according to data from the BB. In contrast, remittance from Italy surged 45.39 percent to $510.78 million in fiscal 2016-17 and that from Germany 25.89 percent to $31.75 million. Portugal has been selected for lower costs, Hussain said, adding that Brac Saajan would eventually set up operations in France, Spain, Italy and Germany by taking licence from Portugal. The estimated cost for setting up the exchange house in Portugal is 2.5 lakh, which will be provided from the retained earnings of Brac Saajan, according to a BB report. The Portugal government is facilitating business organisations affected by Brexit to expand operations into the EU, said the report. Moreover, the operational costs, including tax and labour costs, are lower than in other EU countries. Considering these factors, the central bank has decided to give Brac Saajan the green light. Brac Saajan has projected net profits of 20,996 in 2018 from the exchange house in Portugal. The profit is forecasted to increase 14 percent, 18 percent and 20 percent respectively over the next three years. At a time when all exchange houses in the UK are struggling for survival, Brac Saajan logged in profits of 2 lakh, 2.2 lakh and 2.39 lakh for 2013, 2014 and 2015 respectively. A total of 14 banks got licences from the BB to run exchange houses in the UK. Of them, five have already shuttered and one could not even start its operations. Of the remaining eight exchange houses, most are not doing well, according to the central bank report. Source: http://www.thedailystar.net/business/banking/brac-saajan-exchange-operate-eu-1519864

ERA INFOTECH TO INSTALL PALLI SANCHAY'S BANKING SOFTWARE ERA InfoTech, a joint venture of Bank Asia, Ranks ITT and ETA InfoTech LLC of Dubai, won the contract to supply and maintain the core banking software of Palli Sanchay Bank. The company will install the online banking software at all branches of Palli Sanchay Bank and will maintain the architecture for six years. The agreement was signed yesterday by Akbar Hossain, the bank's acting managing director, and Md Serajul Islam, chief executive of ERA InfoTech, at an event held at the finance ministry. Finance Minister AMA Muhith also spoke on the occasion. Palli Sanchay Bank is the culmination of the government's 'One House One Farm' project by way a special act in 2016. The bank will have a branch in each of the 492 upazilas. Data on 325 branches have already been transferred from the project to the bank, Palli Sanchay said in a statement. Work for transferring the data from another 160 branches is on way. By March next year, data on transaction of 22 lakh members from 40,216 co-operatives in 485 branches will be transferred.

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The bank members have so far saved Tk 1,142 crore, according to Hossain. Muhith said Palli Sanchay Bank will play a huge role in alleviating poverty in Bangladesh. After 2024 there will be no poor in the country. It does not mean that 100 percent of the population will be free from poverty; the handicapped section of the society, which account for 7 percent of the population, will still remain in poverty, he added. Source: http://www.thedailystar.net/business/banking/era-infotech-install-palli-sanchays-banking-software-1519861

NGOS UNDER NBR SCANNER The tax authority has taken steps to ensure compliance by the non-governmental organisations after it recently discovered that more than half of them in Dhaka do not even have tax files. The tax zone-5 office of the National Board of Revenue found that 961 NGOs are registered with the NGO Affairs Bureau but only 488 have tax files. This is a huge gap, said Mohammed Masud, additional commissioner of tax zone-5, adding that letters are being sent to NGOs registered in the capital asking them to get the Taxpayer's Identification Number (TIN). The NGOs are required to submit returns regularly and tax is payable if an organisation has income other than from microcredit operations. Whether an NGO has taxable income or not will be examined after ensuring that all have TINs, Masud said. There are 2,580 registered NGOs and 1,600 are in operation, according to Md Shahadat Hossain, acting director general of NGO Affairs Bureau. We are realising 15 percent VAT from the NGOs. We will ask them to comply with the NBR's directive in this regard, he added. Md Abdur Razzak, NBR's member for tax administration, said the tax authority will next check if the NGOs registered outside Dhaka have tax files. All the NGOs will be brought under tax compliance. Source: http://www.thedailystar.net/business/economy/ngos-under-nbr-scanner-1519846

NO BAR ON BTRC'S 4G SPECTRUM AUCTION FOR TELECOMMUNICATION INDUSTRY NOW The Supreme Court today cleared the way for Bangladesh Telecommunication Regulatory Commission (BTRC) for auctioning off 4G spectrum for the telecommunication industry in the country. The SC extended its chamber judges order that stayed a High Court directive halting the auction. A five-member bench of the Appellate Division headed by Justice Md Abdul Wahhab Miah who is performing duties as the chief justice, passed the order after disposing of a petition filed by BTRC seeking a stay on the HC order. The Appellate Division heard the counsel for all the parties and at 11:30am gave an order that the stay given earlier by the chamber judge shall continue and there by disposed of the application, Mahsib Hossain, a Supreme Court lawyer, told The Daily Star. Earlier on January 11, the SC stayed a HC order that halted the auctioning of 4G spectrum for the telecommunication industry of Bangladesh. On the same day, the HC stayed effectiveness of two BTRC circulars inviting applications for the 4G spectrum auctioning. A HC bench passed the order following a writ petition filed by a wireless internet provider. It also sought explanation from the authorities concerned of the BTRC and the government why the circulars should not be declared illegal. Bangla Lion Communications Ltd filed the writ claiming that

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BTRC issued the circular in contravention of the clauses 4.2 and 4.06(3) of broadband wireless guideline, 2008, petitioner's lawyer Ramzan Ali told reporters. Attorney General Mahbubey Alam appeared for the BTRC. Meanwhile, mobile phone operators, including state-run Teletalk and now out-of-service Citycell, will be applying for 4G licence within the deadline at noon today as the government plans to hold the spectrum auction on February 13. A top official of Citycell, which stopped providing service in October last year, confirmed it yesterday, saying they are preparing to re-enter the telecommunication business. Senior officials of Teletalk and the remaining three private operators also informed of their preparations. Source: http://www.thedailystar.net/city/bangladesh-telecommunication-no-bar-4g-spectrum-auction-licence-btrc-now-teletalk-citycell-supreme-court-1519663

BD WORST AMONG SA COUNTRIES IN PRODUCTION READINESS INDEX Bangladesh has been positioned as the poorest performer among its South Asian neighbours in a latest worldwide ranking. The Switzerland-based World Economic Forum (WEF) has published the evaluation titled Readiness for the Future of Production Assessment 2018 edition. While Bangladesh was placed on as low as 80th position in the report also dubbed as the global manufacturing index covering a total of 100 countries from across the world, its closest neighbour India was ranked at 30th position. Among other South Asian neighbours on the chart, Sri Lanka was ranked 66th with Pakistan coming next at 74th only to be followed by Bangladesh at the bottom (80th) of the regional rivals. Having a score of 3.59 in the Structure of Production measurement, Bangladesh was placed in the list of Nascent Countries alongside the two fore-mentioned regional neighbours with scores of 4.10 (Sri Lanka) and 3.82 (Pakistan). Bangladesh and Pakistan were also found to be languishing at 89th and 93rd with scores of 3.67 and 3.60 on the Drivers of Production scale. Bangladeshs overall performance was marked by scores in the index components of multi-stakeholder collaboration (100th), Venture capital deal volume per size of economy (99th), Ability to Innovate (97th), Internet users (97th), Impact of ICTs on new services and products (94th), Mobile-cellular telephone subscriptions (94th), FDI and technology transfer (88th) and LTE mobile network coverage (67th). Japan came on top of the chart following development of the best structure for production. The Asian leader on the list was followed by South Korea, Germany, Switzerland, China, Czech Republic, USA, Sweden, Austria and Ireland in the bracket of top 10 countries. The report also categorised 100 countries in four major groups for its ranking. The categories include -- Leading (strong current base, high level of readiness for future), High Potential (limited current base, high potential for future), Legacy (strong current base, at risk for future), and Nascent (limited current base, low level of readiness for future). South Asian giant India scored 5.99 in Structure of Production measurement to be placed in the 'Legacy' group alongside Hungary, Mexico, Philippines, Russia, Thailand and Turkey, among others. China figures among 'leading countries', while Brazil and South Africa are among the 'nascent' ones. The 25 'leading' countries on the list are in the best position to gain as production systems stand on the brink of exponential change, the WEF said in the report thats been published ahead of its annual meeting in Davos, Switzerland later this month. At the same time, it was also mentioned that no country has reached the frontier of readiness let alone harnessing the full potential of the fourth industrial revolution in production.

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The countries ranked better than India include Thailand, Malaysia, Mexico, Israel, the Philippines and Spain. In a separate list of best positioned to capitalise on the fourth industrial revolution to transform production systems, USA has been ranked on the top, followed by Singapore, Switzerland, the UK and the Netherlands in the top five. "Every country faces challenges that cannot be solved by the private sector or public sector alone. New approaches to public-private collaboration that complement traditional models are needed to help governments quickly and effectively form partnerships that unlock new value," said the report. Source: http://thefinancialexpress.com.bd/economy/bangladesh/bd-worst-among-sa-countries-in-production-readiness-index-1515945388

GOVT FORMS WAGE BOARD FOR RMG WORKERS The government formed a wage board on Sunday for reviewing the minimum wage of ready-made garment (RMG) workers. The new wage board, headed by District Judge Syed Aminul Islam, has been asked to submit its recommendations within the next six months. Other members of the wage board are: President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Md Siddiqur Rahman, Women Affairs Adviser of Jatiya Sramik League Begum Shamsunnahar, Labour Adviser of Bangladesh Employers Federation Kazi Saifuddin Ahmed, Executive President of Sramik League Fazlul Haqu Mantu and Prof Kamal Uddin of Dhaka University. State Minister for Labour and Employment Md Mujibul Haque disclosed the formation of the wage board through a press briefing at his ministry. Earlier, the government formed the minimum wage board for RMG workers in 2013. "As per the labour law we have formed the minimum wage board for the garment sector labourers before the expiry of five years (of forming the previous board)," the state minister said. Mr Mujibul Haque called upon the labourers not to indulge in any conspiracy trap, hatched by vested quarters. He said the minimum wage board will submit their recommendations on the salary structure for RMG sector labourers after consultations with the owners and labourers. He expressed hope that the government will be able to announce minimum wage before December upon getting the wage board's recommendations. "We hope the government will fulfil our hopes and aspirations regarding the wage structure for garment sector," a labour of the garment sector preferring anonymity told the FE. Acting Labour Secretary Afroza Khan, the BGMEA President, former president of FBCCI and managing director of Ha-Mim Group A K Azad and vice-president of BGMEA Md Nasir Uddin, among others, were present in the press briefing. Source: http://today.thefinancialexpress.com.bd/last-page/govt-forms-wage-board-for-rmg-workers-1515951544

BANKS INTEREST RATE SPREAD FALLING A declining trend of interest rate spread in the country's banking sector continued until November, as the commercial banks slashed their interest rates more on lending than on deposits, officials said. The weighted average spread between lending and deposit rates offered by the banks came down to 4.40 per cent in November 2017 from 4.50 per cent in the previous month, according to the central bank's latest statistics. The spread was 4.55 per cent in September, and 4.72 per cent in January 2017.

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"The banks may offer higher interest rates on deposit to collect more funds for minimising the gap between deposit and credit growths in the near future," a senior official of the Bangladesh Bank (BB) told the FE on Sunday. The BB official's observation came against the backdrop of rising trend in credit than that of deposit in the recent months, as depositors feel discouraged to put their money in the banks with low interest rates. The growth in deposit, on a year-on-year basis, stood at around 11 per cent in November last, while the credit growth reached 19 per cent. It happened so due to higher trade financing by the banks for settling import-payment obligations, particularly of fuel oils, consumer items, food grains and capital machinery. The weighted average rate on deposits rose to 4.90 per cent in November from 4.89 per cent in the previous month, while interest on lending dropped to 9.30 per cent from 9.39 per cent, the BB data showed. The central banker also said BB is now working to keep the spread within 4.0 per cent in the near future. The banks have already been advised to reduce their interest rate spread through improving efficiency instead of slashing interest rates on deposit, he added. Echoing the BB official, Mehmood Husain, managing director and chief executive officer of NRB Bank Limited, said most of the banks 'significantly' increased their interest rates on deposit in December 2017. "We expect that the rising trend of interest rates on deposit may continue in the coming months." The senior banker also opined that the banks will gradually increase the interest rates on lending to minimise their cost of funds. The spread being maintained by at least nine commercial banks, out of 57, still remains high. It ranges between more than 5.0 per cent and 8.49 per cent. Average spread with the state-owned commercial banks (SoCBs) was 3.90 per cent, private commercial banks (PCBs) 4.34 per cent, foreign commercial banks (FCBs) 6.45 per cent, and specialised banks (SBs) 2.81 per cent in November 2017. Excluding consumer finance and credit card, the spread of all banks also came down to 4.30 per cent in November 2017 from 4.40 per cent in October. Source: http://today.thefinancialexpress.com.bd/last-page/banks-interest-rate-spread-falling-1515951491

STOCKS TUMBLE ON SALE PRESSURE Turnover on Dhaka Stock Exchange (DSE) came down to Tk 3.28 billion Sunday, hitting seven and a half months low, as investors were mostly reluctant to take fresh exposure in the market. Turnover, the crucial indicator of the market, fell 14 per cent to Tk 3.28 billion, compared to the previous session's Tk 3.81 billion. It was the lowest single-day transaction in the prime bourse since May 30, 2017 when turnover was recorded at Tk 3.81 billion. Dealers said the ongoing pessimism coupled with upcoming monetary policy issue kept investors mostly inactive, bringing the turnover to more than seven months low. "The investors were not confident enough to take fresh position in the stocks and mostly refrained from injecting fresh funds into the market fearing that the Bangladesh Bank (BB) would tighten the credit growth," said an analyst at a leading brokerage firm. The central bank plans to rein in liquidity flow by cutting advance deposit ratio (ADR) to avert inflationary risk amid high growth in the private sector and the ADR issue put a damper on the capital market.

http://today.thefinancialexpress.com.bd/last-page/banks-interest-rate-spread-falling-1515951491http://today.thefinancialexpress.com.bd/last-page/banks-interest-rate-spread-falling-1515951491


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The market started on negative note which continued till end of the session with no sign of reversal, finally ended more than 61 points lower. DSEX, the core index of the DSE, went down by 61.42 points or 0.99 per cent to settle at more than two months low at 6,118. It was the lowest level of DSEX since November 6, 2017. "Prior to the monetary policy announcement for second half of FY 2018, many investors remained cautious and preferred to be on the sidelines to watch next direction of the market," commented EBL Securities, a stockbroker, in its regular market analysis. The two other indices also ended lower. The DS30 index, comprising blue chips fell 17.74 points or 0.78 per cent to finish at 2,242. The DSE Shariah Index (DSES) also lost 7.22 points or 0.52 per cent to close at 1,384. According to International Leasing Securities, the stock market observed notable price correction amid lowest investors' participation after May 30, 2017. The stockbroker noted stocks from almost all the sectors edged lower, where sell pressure in bank, financial institution and engineering sector stocks contributed in notable fall in indices. Among the major sectors, textile posted the highest correction of 1.80 per cent, followed by banking with 1.60 per cent, cement 1.20 per cent and non-bank financial institutions lost 1.10 per cent. The losers took a strong lead over the gainers as out of 335 issues traded, 253 closed lower, 48 closed higher and 34 remained unchanged on the DSE trading floor. Bangladesh Thai Aluminium topped the DSE turnover chart with 4.44 million shares worth Tk 139 million changing hands, followed by IFAD Autos, National Tubes, Keya Cosmetics and Square Pharmaceuticals. The Chittagong Stock Exchange (CSE) also closed lower with its CSE All Share Price Index - CAPSI- losing 183 points to close at 18,916. The Selective Categories Index - CSCX - also fell 112 points to close at 11,424. Losers beat gainers as 175 issues drifted lower, 44 nudged higher and 21 remained unchanged on the CSE. The second bourse of the country traded 6.53 million shares and mutual fund units worth more than Tk 164 million in turnover. Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-tumble-on-sale-pressure-1515943196

BOURSES TO DELIST BRAC BANK BOND TODAY Subordinated 25 per cent Convertible Bonds of BRAC Bank will be de-listed from both the stock exchanges today (Monday) on completion of its maturity, according to information of stock exchanges. The board of Dhaka Stock Exchange (DSE) took a decision on January 10 last to de-list the bond. The Chittagong Stock Exchange (CSE) also made a similar disclosure regarding de-listing of Subordinated 25 per cent Convertible Bonds of BRAC Bank. The Subordinated 25 per cent Convertible Bonds of BRAC Bank got listed on the stock exchanges in 2011. There are two corporate bonds listed with the stock exchanges. Another corporate bond is IBBL Mudaraba Perpetual Bond. Source: http://today.thefinancialexpress.com.bd/stock-corporate/bourses-to-delist-brac-bank-bond-today-1515943248

ENGINEERING SECTOR LEADS TRANSACTION CHART Engineering sector dominated the Dhaka bourse transaction chart Sunday led by Bangladesh Thai Aluminium while top 10 traded companies captured 27 per cent turnover.

http://today.thefinancialexpress.com.bd/stock-corporate/stocks-tumble-on-sale-pressure-1515943196http://today.thefinancialexpress.com.bd/stock-corporate/stocks-tumble-on-sale-pressure-1515943196http://today.thefinancialexpress.com.bd/stock-corporate/bourses-to-delist-brac-bank-bond-today-1515943248http://today.thefinancialexpress.com.bd/stock-corporate/bourses-to-delist-brac-bank-bond-today-1515943248


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Brokers said the engineering sector emerged as turnover leader as top three traded companies -- Bangladesh Thai Aluminium, IFAD Autos and National Tubes featured from engineering sector. The engineering sector captured nearly 23 per cent transaction of the DSE, closely followed by banking sector with 22 per cent and textile 12 per cent. However, price of all top traded companies fell with Alif Manufacturing Company, the day's worst loser, plunging by 22.96 per cent to close at Tk 16.10 each. "Alif Manufacturing's share price plunged after record date and price adjustment for entitlement of rights shares," said a stockbroker. Rights share subscription of Alif Manufacturing Company, formerly known as CMC Kamal Textile Mills, will be from January 30 to February 15, which will raise Tk 1.09 billion through rights issuance. According to statistics available with the DSE, about 4.44 million shares of BD Thai Aluminium were traded, generating a turnover of Tk 139 million, which was 4.24 per cent of the premier bourse's total transaction. Each share of BD Thai, which was listed on the Dhaka bourse in 1990, closed at Tk 31.20 on Sunday, losing 0.64 per cent over the previous session. Among other active shares in terms of value included IFAD Autos, National Tubes, Keya Cosmetics, Square Pharmaceuticals, Alif Manufacturing Company, United Power, Islami Bank, LankaBangla Finance and National Bank. IFAD Autos followed next, with shares of Tk 137 million changing hands. The company's share price closed at Tk 132.50, losing 1.12 per cent over the previous session. National Tubes notched the third spot, with shares of Tk 119 million changing hands. The state-run company's share price fell 2.48 per cent to close at Tk 141.60. Keya Cosmetics emerged as fourth with shares of Tk 90 million changing hands. The company's share price closed at Tk 11.70, shedding 4.10 per cent. The turnover of Square Pharmaceuticals was Tk 87 million. The second largest market cap company's share price fell 0.29 per cent to close at Tk 306.10. Alif Manufacturing featured a turnover of Tk 78 million. The company's share price plunged 22.96 per cent to close at Tk 16.10. The turnover of United Power was Tk 70 million. The power generation company's share price closed at Tk 164.50, losing 0.48 per cent. Islami Bank featured a turnover of Tk 52 million. The bank's share price fell 0.57 per cent to close at Tk 35. The turnover of LankaBangla Finance was Tk 51 million. The company's share price closed at Tk 46.70, losing 0.85 per cent. National Bank was also included in the top ten turnover chart with shares of Tk 50 million changing hands. The bank's share price closed at Tk 12.60, losing 0.78 per cent. Source: http://today.thefinancialexpress.com.bd/stock-corporate/engineering-sector-leads-transaction-chart-1515943379

GERMANY TO GIVE 337.2M EURO FOR ENERGY, CLIMATE PROJECTS Germany will provide 337.20 million euro to Bangladesh for implementing projects in different sectors, including energy and climate change. In this regard, the two countries signed three bilateral agreements on Technical Cooperation-2016, Financial Cooperation-2016 and Financial Cooperation 2016 (Saidabad-III) at the Economic Relations Division (ERD) in the capital's Sher-e-Bangla Nagar on Sunday, reports BSS. ERD Secretary Kazi Shofiqul Azam and German Ambassador to Bangladesh Dr Thomas Prinz signed the agreements on behalf of the two governments. Under the Technical Cooperation-2016, a total amount of 31 million euro will be provided as contribution to the following projects.

http://today.thefinancialexpress.com.bd/stock-corporate/engineering-sector-leads-transaction-chart-1515943379http://today.thefinancialexpress.com.bd/stock-corporate/engineering-sector-leads-transaction-chart-1515943379


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Under the Financial Cooperation-2016, an amount of 216.20 million Euro will be provided as loan and contribution to IDCOL (2 projects for renewable energy); Modernisation of energy distribution-smart grid, phase 1; Climate change-adapted urban development programme, phase II, and financial contribution to attendant measures. Besides, an amount of 90 million euro will be provided as loan to the climate change-adapted drinking, water resources management Dhaka (Saidabad Water Treatment Plant Project, phase III). Source: http://today.thefinancialexpress.com.bd/trade-market/germany-to-give-3372m-euro-for-energy-climate-projects-1515945686

SONALI BANK GETS NEW GM Mozammel Haque Khan has been promoted to the post of general manager of Sonali Bank Limited, the bank said in a press statement recently. Prior to that, he was serving in the same bank as the deputy general manager of Bangabandhu Avenue Branch (principal office). He started his banking career as senior officer in Sonali Bank in 1984, added the statement. Source: http://www.theindependentbd.com/post/132775

SC UPHOLDS ORDER VACATING HC STAY ON 4G LICENCE DISTRIBUTION The Appellate Division on Sunday upheld its previous order vacating a High Court order that had stayed for six months a Bangladesh Telecommunication Regulatory Commission notice inviting applications from mobile companies to award licences for 4G internet service. A five-judge bench chaired by acting chief justice Md Abdul Wahhab Miah also directed the High Court bench led by Justice Naima Haider to dispose of its ruling by February 28 and asked why the notification inviting proposals from mobile phone operators to award 4G service would not be declared illegal. The bench also disposed of the provisional petition filed by BTRC seeking permission to appeal against the High Courts ruling. On January 11, a bench of Justice Naima Haider and Justice Zafar Ahmed had stayed the BTRC notice and issued the ruling after hearing a writ petition filed by Banglalion Communications Limiteds chairman Abdul Mannan, also secretary general of Bikalpa Dhara Bangladesh. On the same day, the Appellate Divisions chamber judge Justice Syed Mahmud Hossain had vacated until Sunday the High Courts stay, clearing the way for awarding 4G licences. Senior lawyer Kamal Hossain with juniors Ramzan Ali Sikder and Saiful Alam Chowdhury appeared for Banglalion while the state was represented by attorney general Mahbubey Alam with BTRC lawyer Khandaker Reza-E-Raquib. Source: http://www.newagebd.net/article/32577/sc-upholds-order-vacating-hc-stay-on-4g-licence-distribution

MCCI WANTS PRO-ACTIVE STATE BODIES TO EASE DOING BUSINESS The Metropolitan Chamber of Commerce and Industry has suggested that regulatory and other state-bodies under the finance ministry should be more proactive in order to ease doing business in the county. The newly elected representatives of the countrys oldest chamber body, led by reelected president Nihad Kabir, made the call during a meeting with finance minister AMA Muhith at the secretariat on Sunday. The MCCI leaders pointed out that problems related to ease of doing business could be addressed easily if the existing rules and regulations are implemented properly and equitably.

http://today.thefinancialexpress.com.bd/trade-market/germany-to-give-3372m-euro-for-energy-climate-projects-1515945686http://today.thefinancialexpress.com.bd/trade-market/germany-to-give-3372m-euro-for-energy-climate-projects-1515945686http://www.theindependentbd.com/post/132775http://www.newagebd.net/article/32577/sc-upholds-order-vacating-hc-stay-on-4g-licence-distributionhttp://www.newagebd.net/article/32577/sc-upholds-order-vacating-hc-stay-on-4g-licence-distribution


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Nihad Kabir alleged that the advisory committee of the Securities and Exchange Commission had not invited her to attend any of the meetings during the last seven years. She also alleged that National Board of Revenue did not make any response to a query by a foreign chamber body in the last one year. She apprehended that the revenue board might impose higher tax on regular tax payers and tax-compliant business houses to recover the losses of value added tax following cancellation of implementation of the new VAT act in June. The MCCI leaders also demanded that practice of introducing statutory regularity orders around the beginning of the fiscal year be changed. Muhith said he had to consult with his ministry officials to change the traditional system of introducing tax related SROs. He said the present government would suggest the new government to keep multiple rate of VAT. The implementation of new VAT act was suspended until 2019 due to strong lobbies from the businesses last year. The businessmen were also demanding multiple rates of VAT instead of 15 per cent single rate, suggested by the International Monetary Fund. Source: http://www.newagebd.net/article/32579/mcci-wants-pro-active-state-bodies-to-ease-doing-business

PDB WANTS TK 8,120CR IN GOVT SUBSIDY FOR FY18 The state-run Power Development Board has sought a total of Tk 8,120 crore in subsidy from the government to offset its losses to be incurred in the financial year 2017-18. The loss estimated by the power board exceeded by Tk 3,420 crore than the loss estimated by the Bangladesh Energy Regulatory Commission for the current financial year, said officials. As per its latest tariff order issued on November 23, the government would provide Tk 3,600 crore as grant and waive Tk 1,100 crore in annual interest that it has been counting on the cumulative loan of Tk 44,000 crore lent to the power board to offset its losses over the past 11 years until June 2017, said officials. On top of this, the power board is seeking the additional Tk 3,420 crore as grant. Last week we sent a letter with a revised budget of the power board to the finance division via power division requesting the government to provide the money in subsidy, the power board general manager (commercial operation) Md Kawsar Amir Ali told New Age on Saturday. Asked why the annual deficit exceeded the estimate of the energy commission, he said that it was the gross deficit of the power board estimated for the current financial year. He, however, declined giving further details about the reason behind the additional loss estimated by the power board. The power board officials, however, attributed four major reasons to the additional loss of Tk 3,420 crore. The energy commission considered cost of furnace oil instead of diesel for power generation at a 305MW power plant installed at Meghnaghat increasing losses for expensive fuel, they said. The commission also allowed 39 per cent use of the capacity of a 230MW diesel-fired power plant installed in Khulna in the first five months of the current financial year until November which was 10 per cent less than the actual capacity at which the plant was operated increasing losses for expensive fuel, the officials said. Besides, the energy commission did not consider the losses for purchase of electricity from at least 15 fuel oil-fired power plants to be installed before closing the current financial year in June 2018, they said.

http://www.newagebd.net/article/32579/mcci-wants-pro-active-state-bodies-to-ease-doing-businesshttp://www.newagebd.net/article/32579/mcci-wants-pro-active-state-bodies-to-ease-doing-business


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The energy commission also considered that two dual-fuel power plants, one installed at Shikalbaha in Chittagong and the other in Sirajganj, with 360MW combined capacity would run on natural gas when the plants have been operated on diesel causing more losses, they said. Consumers Association of Bangladesh energy adviser M Shamsul Alam said that people must not pay, not in form of higher prices for electricity or subsidy, for the governments flawed policy that also helped some private companies to make enormous money from power sector. The estimated loss of Tk 8,120 crore was totally unacceptable as even the loss worth Tk 3,600 crore estimated by the energy commission could be eliminated by reducing fuel oil prices in the local market in line with the import costs and assigning priority to the least cost plants for electricity generation. Citing the grounds of increasing power generation costs, the average retail price of electricity has so far been raised by 81.91 per cent, up from Tk 3.76 per kilowatt-hour or unit to Tk 6.84, in nine phases since March 2010 due to the governments policy to serve vested quarters. Source: http://www.newagebd.net/article/32581/pdb-wants-tk-8120cr-in-govt-subsidy-for-fy18

DIGITALIZATION OF FINANCIAL SECTOR A MUST FOR BUSINESS GROWTH Some 81% business leaders in Asia Pacifics financial services industry said they feel the need to transform to digital business to enable future growth, a study said. According to a study conducted by Microsoft Digital Transformation Asia, only 31% of them said they have a full digital strategy in place today. The Business leaders agreed that cloud computing is now an essential part of their digital transformation strategy and data insights can lead to new revenue streams, said a press release. The study was shared in a banking sector conference recently organized by Microsoft Bangladesh at the Westin Dhaka. Rena Chai, chief operating officer of the Southeast Asia New Markets at Microsoft Asia Pacific, said: As we embrace the 4th Industrial Revolution, cutting-edge technologies are redefining business process and the way how businesses interact with their customers. As Microsoft wants to empower every person and every organization on the planet to achieve more, we would like to extend our support to FSI industry in Bangladesh to capitalize on the value of generating greater insights from new and existing data, to better meet the needs of customers, especially personalized offerings and expansion into digital channels. Chai added: We urge all business leaders in this space to take steps to re-think how their organizations would look like as a digital business to stay relevant. Sonia Bashir Kabir, Managing Director of Microsoft Bangladesh, Nepal, Bhutan and Laos, said: In the age of digital disruptions, the banking sector can leverage technology to optimize their operations and increase profits through using the right tools to empower employees and build closer relationship with the customers. As Bangladesh is capitalizing on its Digital Bangladesh Vision and people are quickly adapting to new technologies, it is time for the banks to utilize latest technology to turn data into insights, transform ideas into action, get closer to their customers and become their advisors. The Microsoft Asia Digital Transformation Study surveyed 1,494 business leaders across five industries, including 335 from Financial Services Industry, from Asia Pacific working in organizations with more than 250 employees from 13 Asia Pacific markets. Source: http://www.dhakatribune.com/business/2018/01/14/digitalization-financial-sector-must-business-growth/

http://www.newagebd.net/article/32581/pdb-wants-tk-8120cr-in-govt-subsidy-for-fy18http://www.dhakatribune.com/business/2018/01/14/digitalization-financial-sector-must-business-growth/http://www.dhakatribune.com/business/2018/01/14/digitalization-financial-sector-must-business-growth/


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GOVERNMENT FORMS NEW WAGE BOARD FOR RMG SECTOR The government has formed a new wage board for the RMG sector to formulate a new wage structure for apparel workers. State Minister for Labour and Employment Mujibul Haque Chunnu made the announcement in his office in the capital on Sunday. In 2013, aftermath of the Rana Plaza incident, the then minimum wage board set Tk5,300 as minimum wage with a basic of Tk3,000 for entry-level garment workers with a 5% yearly increment on the basic. Trade union leaders were making demands for a new wage board. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) also urged the government to form new wage board for the sector, said Mujibul. BGMEA has set an example by urging the government to form new wage board officially, he said. Considering the demand from both sides, the government has decided to form a new board, the state minister said. The board will be led by Senior District Judge Syed Aminul Islam as chairman. BGMEA President Siddiqur Rahman and Womens Affairs Secretary of Jatiya Sramik League Shamsun Nahar Bhuiyan will represent the owners and workers respectively. Kazi Safiuddin Ahmed of Employers Federation, Fazlul Haque Montu and Kamal Uddin, a professor of Dhaka University, will remain as independent members of the board. As per the law, the new board has to finalize a new wage structure for the sector within six months after taking into consideration prices of essentials and other expenses of the workers. State Minister Chunnu said it was very tough to select a workers representative in the board. But after receiving the official call from the BGMEA, the Labour Ministry spoke to stakeholders. Since over 75% workers are women, the government selected Shamsun Nahar as a workers representative, who will protect workers interest as she was a wage board member in 2010, he said. After having a wide discussion with the stakeholders, the board will recommend a new wage structure based on the inflation rate, living costs, present status of the economy and also on the capacity of sector, he added. State Minister for Labour and Employment Mujibul Haque Chunnu, centre, announces a the formation of a new wage board for readymade garments workers at his ministry conference room on Sunday, December 18, 2018 Dhaka Tribune We will set a wage for the workers considering the living cost and inflation rate and based on the capacity of the industry, a perfect wage structure will be declared after having a discussion with stakeholders, said Mujibul. I think, RMG sector is the driver of Bangladesh economy. We will try to come up with a perfect salary structure, BGMEA President Siddiqur Rahman said. If we can set a salary structure based on the industrys capacity, there will be no necessity for demos and it would be better for the industry, said Siddiqur. In the aftermath of Rana Plaza, the apparel industry is on its way to restoring its lost image, the business leader said. The industry people and the government should be very cautious so that no one can provoke workers over the wage issue, he added. For garment workers, it is very tough to meet basic needs with the existing minimum wage. The house rent and prices of commodity keep going up. My focus will be to ensure a wage that can help meet our basic needs and then some to spare, Shamsun Nahar Bhuiyan told the Dhaka Tribune. We will need to consider the inflation rate, living expenses in the factory area and the wage structure of neighbouring countries, said Shamsun.


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It will only be possible when I am able to make factory owners understand the benefits of better payment for workers, she added. But there are challenges for me as I do not have enough data, which may weaken the argument. I think I will be able to do as there are some organisation working on the issues, she added.

Considering the demand from both sides, the government has decided to form a new board, the state minister said. The board will be led by Senior District Judge Syed Aminul Islam as chairman. BGMEA President Siddiqur Rahman and Womens Affairs Secretary of Jatiya Sramik League Shamsun Nahar Bhuiyan will represent the owners and workers respectively. Kazi Safiuddin Ahmed of Employers Federation, Fazlul Haque Montu and Kamal Uddin, a professor of Dhaka University, will remain as independent members of the board. As per the law, the new board has to finalize a new wage structure for the sector within six months after taking into consideration prices of essentials and other expenses of the workers. State Minister Chunnu said it was very tough to select a workers representative in the board. But after receiving the official call from the BGMEA, the Labour Ministry spoke to stakeholders. Since over 75% workers are women, the government selected Shamsun Nahar as a workers representative, who will protect workers interest as she was a wage board member in 2010, he said. After having a wide discussion with the stakeholders, the board will recommend a new wage structure based on the inflation rate, living costs, present status of the economy and also on the capacity of sector, he added. State Minister for Labour and Employment Mujibul Haque Chunnu, centre, announces a the formation of a new wage board for readymade garments workers at his ministry conference room on Sunday, December 18, 2018 Dhaka Tribune We will set a wage for the workers considering the living cost and inflation rate and based on the capacity of the industry, a perfect wage structure will be declared after having a discussion with stakeholders, said Mujibul. I think, RMG sector is the driver of Bangladesh economy. We will try to come up with a perfect salary structure, BGMEA President Siddiqur Rahman said. If we can set a salary structure based on the industrys capacity, there will be no necessity for demos and it would be better for the industry, said Siddiqur. In the aftermath of Rana Plaza, the apparel industry is on its way to restoring its lost image, the business leader said. The industry people and the government should be very cautious so that no one can provoke workers over the wage issue, he added.


18

For garment workers, it is very tough to meet basic needs with the existing minimum wage. The house rent and prices of commodity keep going up. My focus will be to ensure a wage that can help meet our basic needs and then some to spare, Shamsun Nahar Bhuiyan told the Dhaka Tribune. We will need to consider the inflation rate, living expenses in the factory area and the wage structure of neighbouring countries, said Shamsun. It will only be possible when I am able to make factory owners understand the benefits of better payment for workers, she added. But there are challenges for me as I do not have enough data, which may weaken the argument. I think I will be able to do as there are some organisation working on the issues, she added. Source: http://www.dhakatribune.com/labour/2018/01/14/rmg-workers-get-fourth-wage-board/

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4g services by march 2 biman's turnover hit … news flash, 15th january, 2018 3 on thursday wimax...

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