Haque Specialized Group's News

The government moves to establish reform units in its ministries to act as think-tanks to help run the administration as per SDG-era requisites. Officials said the prime minister's office (PMO) has asked the ministries and divisions to create such knowledge unit styled 'Reform Management Unit (RMU)'. Research-based activities will be operated mostly through the think-tank units, they also said. "The proposed unit in every ministry and division will be set up soon. We sent letters to the top officials concerned in this regard," a high official of the PMO told the FE Friday. The prime minister has also given the go-ahead in principle, he added. Such a unit consists of two joint/deputy secretaries led by an additional or joint secretary. The units will run on the basis of team approach instead of organisational structure, he mentioned. "Time is changing, day by day. The government is to adapt to the times and cultures. Besides, it has to take up proper, demand-oriented works and innovative activities considering the changes in national and international contexts," said another official concerned. On the other hand, Sustainable Development Goals (SDGs)' recipe was adopted by the United Nations General Assembly (UNGA) on September 25, 2015. The government has to be capable of achieving the UN-set goals. Besides, some special activities for achieving the goals should be undertaken by the government as it has achieved MDGs (Millennium Development Goals) for 2000-15 successfully, he added. Currently, the ministries/divisions are to create focal-point desks for reformation, innovation and implementation of their different other activities. Focal Point officials play a critical role in coordinating and facilitating the activities of various government ministries and divisions. But, most of the time, the officials cannot do their duties efficiently. As a result, a good number of different important projects/activities/works have long been hampered, he also said. Besides, activities of the focal point officials concerned are hampered always due to unexpected transfers. "As such, it is an urgent need to establish RMUs. It will be better for ministries/divisions if it is finally created," he added.     rezamumu@gmail.com....

Published at: 2017-03-25 00:00:04

Use of debit and credit cards for retail transactions remains extremely low in the country as card-based transaction continues to be largely dominated by ATM withdrawals, the latest central bank statistics reveal.    Around 172 million card-based transactions were recorded by the country's banks in 2016, the Bangladesh Bank (BB) figures show. The total value stood at Tk. 1.25 trillion. Of the total value, almost 92 per cent or around Tk. 1.15 trillion transactions took place through debit cards, while only 6 per cent or around Tk. 75.71 billion transactions were carried out through credit cards. Even within this debit card segment, bulk of the transactions took place in the form of ATM withdrawals, the BB figures suggest, as around 94.5 per cent or around Tk. 1.09 trillion local debit card transactions were categorised as ATM-based. Overall, it was found that total Tk. 1.107 trillion ATM transactions took place in the country in 2016 while the total value of POS (Point of Sales) based card transactions was merely around Tk. 120.41 billion. As such, it appears that although the use of plastic money is growing in major urban areas of the country, it is yet to gain a strong foothold at retail level. Banking insiders, however, blamed it on low availability of card-based POS machines at most of the retail points in the country. They noted that despite growing ownership of debit and credit cards in the country, the use of card-based POS machines remains mostly limited to the high-end retail outlets of the big cities. "The main purpose of cashless transaction would not be served if use of card-based transaction remains limited to ATM withdrawals", said Abul Kashem Md Shirin, Managing Director of Dutch Bangla Bank Limited, a leading private bank with big presence in the card segment. He noted that the increased usage of cards for business transactions is very essential for increasing transparency and reducing forgery and use of fake notes.   The insiders also noted that not all the banks of the country are equally interested in promoting the use of cards among their customers. This is particularly true about the state-owned banks, they mentioned.   However, the card-based transaction in Bangladesh increased by almost 17 per cent in the country in the year 2016 while there were around 9.3 million cards in use at the end of last year. Substantial increase was also witnessed in the overseas transactions made through locally-issued credit cards. A total of Tk. 15.58 billion was spent overseas through local credit cards, up from around Tk. 12.56 billion that were spent in 2015. The bulk of such credit card spending abroad came in the form of POS transactions. It is also to be noted that despite limited usage of plastic money in local retail outlets, e-commerce, a particular segment of card-based transactions, posted impressive growth last year. In fact, local card-based e-commerce transactions more than doubled in last one year, the central bank figures show as the value of local e-commerce transactions reached Tk. 3.38 billion in 2016 up from Tk. 1.67 billion a year earlier. In addition, there were around Tk. 3 billion foreign transactions through e-commerce in 2016, which also increased from around Tk. 1.87 billion in 2015. "Since there is a strong correlation between e-commerce transaction and card-based payment, they can act as complementary to each other's growth", said Razib Ahmed of e-Commerce Association of Bangladesh. "As such, banks can help in proliferation of both plastic money and e-commerce by using their wider customer base and effective promotional activities", he added.     mehdi.bhuiyan@gmail.com....

Published at: 2017-03-25 00:00:04

Many producers resorted to 'shrinkflation -- a situation where quantities of goods in packs are reduced keeping the prices constant -- to maintain margins without alienating customers. Under such system, firms surreptitiously reduce pack sizes while keeping the prices unchanged. This shrinkflation bid in the country is mostly seen in food and consumer items like beverages, ballpoint pen, potato chips and match boxes. People familiar with the manufacturing of the goods told the FE that they were also taking recourse to this business practice in order to retain the customers amid the open-market economy wherein the substitute products are available on the international market. Some experts opine that there should be investigation by an appropriate authority into this kind of unethical practice on the part of unscrupulous traders to see how much they [producers] benefit from shrinkage of product packs in what is known as shrinkflation. Officials at the government-run consumer-rights-protection body told the FE that they were not aware of this matter. They said if the producers mention the actual quantities on the labels that were approved by the proper authority, then they cannot take any action. Shafiqul Islam Laskar, director-general at the Directorate of National Consumer Rights Protection (DNCRP), said: "We're not aware of it." He told the FE if the quantity is cut without consent of proper authority, then they can take action. Bangladesh Tariff Commission fixes prices of some key goods while most others remain out of its reach. On the other hand, manufacturers said they are not cheating people rather such tactics help them retain customers and keep inflationary pressures contained. Authorities of soft-drink groups said they tried to absorb inflation as it could be done through such mechanism by maximizing sales apart from other marketing tools. Mohiuddin Monem, a director at Abdul Monem Ltd that mainly markets popular beverage brand Coke outside the capital, told the FE that they were now selling the drink weighing 200ml in glass bottles keeping its retail rate unchanged at Tk 15. Earlier, the same was 50ml higher and the price was the same at Tk 15. Similarly, a ballpoint pen is now being sold at retail level at Tk 5.0 a piece for long despite the fact that the prices of its ink on the international market rose much higher. They use the imported ink mainly from China and India. Once a ball pen used to last for a longer time and now it ends quickly. An official at the country's biggest ballpoint-pen producer - Matador -- told the FE that they maintained the same price considering the interest of the students as it is a key education material. They said the Tariff Commission of Bangladesh, a government-run organisation which suggests prices of some goods and recommends duties on the imports considering the interests of local industries, had been asking them for long to keep the pen price the same. But some industry-insiders said the quantity of inks inside the pen has been reduced. Md Kamruzzeman Kamal, director for marketing at Pran-RFL Group, said: "We never involve ourselves in such practices." He, however, said they have a mechanism on the costing. RFL-made ballpoint pen is also a popular buy in recent times. The quantities of popular chips of many brands also are reduced to keep prices constant. The number of sticks of matches also declined significantly in recent years. A number of analysts told the FE that shrinkflation, pioneered in America in the 1970s, used to be practiced during stagflation in an economy. They also argue that in high-inflation countries the companies also do the same roundabout practice. jasimharoon@yahoo.com....

Published at: 2017-03-25 00:00:04

Army commandos are leading the final assault to end a 30-hours siege on a suspected militant hideout in Sylhet. The assault launched, at 9am on Saturday, is being led by the Para Commando Battalion, said the Inter Services Public Relations Directorate (ISPR).   The army has codenamed the assault 'Operation Twilight', which was earlier named as ‘Operation Spring Rain’ by the SWAT who has been on the scene since before the army arrives there.  Half an hour before the assault began, an army officer told mediapersons near the scene, "The army is conducting the assault and the SWAT is only helping them." “The army's Para Commando Battalion is conducting the assault on the militant hideout in Sylhet," said ISPR Director Lt Col Rashedul Hasan, reports bdnews24.com. The ISPR has requested the media not to broadcast the assault live. The mediapersons and others in the area have been asked to move at least a kilometre away from the complex, housing two buildings -- one five-storey and the other a four- storey.  Power and gas connections to the complex have been cut off. Sylhet Metropolitan Police and members of the police's counterterrorism unit cordoned off the complex since 3am Friday. SWAT personnel from Dhaka joined them Friday afternoon. A team of army commandos reached the scene later in the night. Counterterrorism and Transnational Crime (CTTC) unit chief Monirul Islam reached the spot after Friday midnight, joining the officers of various forces, who had planned the final assault. The two buildings owned by a businessman have 30 flats with as many families. Police said the militants ‘denned’ at a flat on the ground floor of one of the buildings. The other families living in the buildings have been stranded in the standoff for almost 30 hours now. Police said they suspect at least two militants -- a male and a female -- are in the flat now. A SWAT member said the final assault was delayed because they believe the militants have stored powerful bombs in the flat. Heavily armed members of the law-enforcing agencies have surrounded the complex. A crane and some fire trucks have also been kept near the buildings. The last such raid was conducted in Chittagong's Sitakunda. It ended through a suicide blast killing two suspects and a child while two others were shot dead during the final assault launched early in the morning on Mar 16. HOW THE RAID BEGAN CTTC Additional Deputy Commissioner Abdul Mannan said the members of the unit were carrying out a search operation in Sylhet with local police after getting information that militants have taken shelter in the divisional city. After finding the hideout at Shibbarhi on Thursday, police locked the flat from outside and cordoned off the complex around 3am on Friday. Police came under an attack later in the morning. The suspects shouted 'Allahu Akbar' while hurling grenades at the law enforcers. Police retaliated by opening fire, and the cordon was extended to the entire area, Sylhet city police Additional Commissioner Rokan Uddin said. STRANDED FOR A DAY The residents of the vicinity found themselves apparently confined in the siege by the law enforcers when they woke up early in the morning, hearing sounds of blasts and shooting. The streets to the complex were sealed off in the morning. The residents of some nearby buildings were evacuated, and police personnel took positions on the rooftops. Local reporters said as many as 17 families of the four-storied building at the complex were evacuated in the morning. They were kept at a school in the area throughout the day and asked to move to relatives' houses later in the evening. Police, using loudhailers, advised the other families stranded in the flats of the five-storied building to keep the doors and windows shut.....

Published at: 2017-03-25 00:00:04

Tesla Motors Inc will start taking orders for its solar roof tiles in April, Chief Executive Elon Musk said in a Tweet on Friday. The solar-powered roof shingles were unveiled in October last year to show the benefits of combining his electric car maker with solar installer SolarCity Corp SCTY.O. There was no detail on cost, reports Reuters. Tesla has said previously the cost of the roof would be less than a conventional roof plus solar. By incorporating solar modules into rooftops, Tesla is hoping to succeed with a solar technology that to date has had little success.....

Published at: 2017-03-25 00:00:04