Ads by Cash-71
comments (0)
|
Labels:
bangladesh news,
bd news,
bdnews,
education,
national,
nu,
results,
University
The Indian government has formed a $2 billion fund to assist member countries of the South Asian Association for Regional Cooperation (SAARC) to tackle balance of payments crisis.
Bangladesh Bank Governor Atiur Rahman said at a programme of Economic Reporters Forum (ERF) on Sunday that Bangladesh will be able to take loans worth above $400 million through swap arrangement.
India recently finalised the initiative at a meeting of SAARC Finance Governors' in Nepal. The Reserve Bank of India will fund the initiative.
Under the swap arrangement, each country will be given loans in three instalments according to their demand. The interest rates for the first two instalments would be two percent more than London Interbank Offered Rate (LIBOR). The third instalment would cost two and a half percent more.
The initiative for loan within South Asian Countries came up for discussion in January this year due to the hike in dollar prices and liquidity crisis. Following the fifth conference of SAARC Finance Ministers in Dhaka, Finance Minister Abul Maal Abdul Muhith said that India suggested a swap arrangement between SAARC countries and that it would soon be implemented.
India will offer swap arrangement of $2 billion both in foreign currency and Indian rupee.
RBI said the swap arrangement will be entirely funded by India and it will be offered in US dollar, euro and Indian rupee against the domestic currency or domestic currency denominated government securities of the requesting country.
The swap arrangement is intended to provide a back stop line of funding for the SAARC member countries to meet any balance of payments and liquidity crises, till longer term arrangements are made, RBI said.
It would also help if there is a need for short-term liquidity due to market turbulence, the Indian central bank added.
With the launch of this facility, member countries can now approach Reserve Bank of India for availing of the facility.
The swap amount available to various member central banks has been arrived based on two months import cover subject to a floor of $100 million and a maximum of $400 million per country, RBI said.
The requesting member countries will be able to make drawals of US dollar, euro or Indian rupee in multiple tranches. Each drawal of three months tenor and can be rolled over twice.
The first rollover will attract normal interest rate which is equal to LIBOR (for three months) plus 200 basis points. However, the second rollover will attract 50 basis points more than the normal interest rate.
SAARC countries will have to enter a bilateral swap agreement with India which will need final approval from the Indian government to avail themselves of the facility.
Bangladesh Bank Governor Atiur Rahman said at a programme of Economic Reporters Forum (ERF) on Sunday that Bangladesh will be able to take loans worth above $400 million through swap arrangement.
India recently finalised the initiative at a meeting of SAARC Finance Governors' in Nepal. The Reserve Bank of India will fund the initiative.
Under the swap arrangement, each country will be given loans in three instalments according to their demand. The interest rates for the first two instalments would be two percent more than London Interbank Offered Rate (LIBOR). The third instalment would cost two and a half percent more.
The initiative for loan within South Asian Countries came up for discussion in January this year due to the hike in dollar prices and liquidity crisis. Following the fifth conference of SAARC Finance Ministers in Dhaka, Finance Minister Abul Maal Abdul Muhith said that India suggested a swap arrangement between SAARC countries and that it would soon be implemented.
India will offer swap arrangement of $2 billion both in foreign currency and Indian rupee.
RBI said the swap arrangement will be entirely funded by India and it will be offered in US dollar, euro and Indian rupee against the domestic currency or domestic currency denominated government securities of the requesting country.
The swap arrangement is intended to provide a back stop line of funding for the SAARC member countries to meet any balance of payments and liquidity crises, till longer term arrangements are made, RBI said.
It would also help if there is a need for short-term liquidity due to market turbulence, the Indian central bank added.
With the launch of this facility, member countries can now approach Reserve Bank of India for availing of the facility.
The swap amount available to various member central banks has been arrived based on two months import cover subject to a floor of $100 million and a maximum of $400 million per country, RBI said.
The requesting member countries will be able to make drawals of US dollar, euro or Indian rupee in multiple tranches. Each drawal of three months tenor and can be rolled over twice.
The first rollover will attract normal interest rate which is equal to LIBOR (for three months) plus 200 basis points. However, the second rollover will attract 50 basis points more than the normal interest rate.
SAARC countries will have to enter a bilateral swap agreement with India which will need final approval from the Indian government to avail themselves of the facility.
The opposition alliance can sit with the government if it agrees for a non-partisan poll-time government and if there is a clearly spelt out agenda, BNP Chairperson Khaleda Zia has said.
"I want to tell the government that we want to discuss. But before that the government will have to make a clear and written announcement on non-partisan and impartial government," she said at the end of a mass hunger strike organised by the BNP-led alliance at Mahanagar Natya Mancha in Gulistan.
"We won't sit for any discussion without any agenda," she added.
The strike ended after Khaleda received sherbet from the daughter of missing party leader M Ilias Ali.
Khaleda's statement was aimed at clarifying her and her party's stance in response to various quarters calling the two parties across the table to settle their disputes.
The hunger strike programme was announced to demand release of BNP's missing leader M Ilias Ali, withdrawal of cases against BNP leaders and reinstatement of non-party caretaker government for overseeing the national election.
"No matter how many changes the government brings to the constitution, passes laws … no election will be held in this country under Awami League," Khaleda said.
"Now the government is luring the opposition saying that the president will oversee the election," she said.
"But we want to make it clear that this president is a partisan president. [No election] under his supervision will be accepted," she said.
"The government will have to either meet the demand of non-partisan government or step down," she added.
According to the latest constitutional amendment the ruling party brought last year, the next general election can be held under a partisan government as the non-party caretaker government provision has been scrapped.
BNP has been demanding cancellation of the amendment to reinstate the system of non-party caretaker government.
The European Union and US Secretary of State Hillary Clinton recently urged the political leaders for sitting in a dialogue to settle the issues through discussion.
During her hour-long speech, Khaleda threatened to continue with movement if their demand of non-partisan government is not met by Jun 10. She also threatened of launching intensified agitation if arrested BNP leaders are not released from jail.
"We won't have any alternatives but to enforce countrywide general strike," Khaleda said. She also criticised police harassment of the family of Ilias Ali by setting up close circuit TV cameras at their house.
She once again blamed the government and the law enforcers for kidnapping Ilias Ali.
Regarding the killing of Sagar Sarwar and Meherun Runi, she said, "The journalists had learned a lot of information regarding corruption in the government. They would have disclosed those outside the country, had they survived."
"The government itself helped their killers escape. The law enforcing agencies are unable to capture the killers as they have already left the country," she added.
The opposition chief claimed that a relative of the prime minister and a member of the cabinet are directly involved in the alleged corruption in the Padma bridge project.
She claimed that many of the ruling party lawmakers are laundering money as they are preparing to flee the country in future.
Regarding the recent appointment of VC at JU, she said, "A partisan professor has been appointed from another university flouting rules."
Some BNP activists who had not been seen in active politics for quite a long time for their controversial role during the last caretaker government also participated in the hunger strike programme.
Family members of the arrested BNP leaders also joined the strike.
"I want to tell the government that we want to discuss. But before that the government will have to make a clear and written announcement on non-partisan and impartial government," she said at the end of a mass hunger strike organised by the BNP-led alliance at Mahanagar Natya Mancha in Gulistan.
"We won't sit for any discussion without any agenda," she added.
The strike ended after Khaleda received sherbet from the daughter of missing party leader M Ilias Ali.
Khaleda's statement was aimed at clarifying her and her party's stance in response to various quarters calling the two parties across the table to settle their disputes.
The hunger strike programme was announced to demand release of BNP's missing leader M Ilias Ali, withdrawal of cases against BNP leaders and reinstatement of non-party caretaker government for overseeing the national election.
"No matter how many changes the government brings to the constitution, passes laws … no election will be held in this country under Awami League," Khaleda said.
"Now the government is luring the opposition saying that the president will oversee the election," she said.
"But we want to make it clear that this president is a partisan president. [No election] under his supervision will be accepted," she said.
"The government will have to either meet the demand of non-partisan government or step down," she added.
According to the latest constitutional amendment the ruling party brought last year, the next general election can be held under a partisan government as the non-party caretaker government provision has been scrapped.
BNP has been demanding cancellation of the amendment to reinstate the system of non-party caretaker government.
The European Union and US Secretary of State Hillary Clinton recently urged the political leaders for sitting in a dialogue to settle the issues through discussion.
During her hour-long speech, Khaleda threatened to continue with movement if their demand of non-partisan government is not met by Jun 10. She also threatened of launching intensified agitation if arrested BNP leaders are not released from jail.
"We won't have any alternatives but to enforce countrywide general strike," Khaleda said. She also criticised police harassment of the family of Ilias Ali by setting up close circuit TV cameras at their house.
She once again blamed the government and the law enforcers for kidnapping Ilias Ali.
Regarding the killing of Sagar Sarwar and Meherun Runi, she said, "The journalists had learned a lot of information regarding corruption in the government. They would have disclosed those outside the country, had they survived."
"The government itself helped their killers escape. The law enforcing agencies are unable to capture the killers as they have already left the country," she added.
The opposition chief claimed that a relative of the prime minister and a member of the cabinet are directly involved in the alleged corruption in the Padma bridge project.
She claimed that many of the ruling party lawmakers are laundering money as they are preparing to flee the country in future.
Regarding the recent appointment of VC at JU, she said, "A partisan professor has been appointed from another university flouting rules."
Some BNP activists who had not been seen in active politics for quite a long time for their controversial role during the last caretaker government also participated in the hunger strike programme.
Family members of the arrested BNP leaders also joined the strike.
Sanwara Group Director Mujibur Rahman has filed a Tk 2-billion defamation suit at a Chittagong court against private channel Ekushey Television Chairman Absus Salam and four others.
The others accused in the case filed on Sunday with the First Joint District Judge Mohammad Bahauddin Ahmed's court are ETV General Manager Maj (retd) Rezaul Karim, Senior Reporter Mahatheer Faruki, and Reporters Faruq Hossain and Mohammad Osman.
Mujibur, son of ruling party MP of Chittagong-8 constituency Nurul Islam BSC, filed the case following a report aired on ETV on Mar 2 and 3 over lands of Sanwara Holdings Limited, plaintiff's lawyer Syed Qudrat Ali told .
The report termed Mujibur as 'land grabber' and 'extortionist', he said.
"Mujibur Rahman has been defamed by the ETV report. So he has filed the case seeking Tk 2 billion in compensation," he added.
The others accused in the case filed on Sunday with the First Joint District Judge Mohammad Bahauddin Ahmed's court are ETV General Manager Maj (retd) Rezaul Karim, Senior Reporter Mahatheer Faruki, and Reporters Faruq Hossain and Mohammad Osman.
Mujibur, son of ruling party MP of Chittagong-8 constituency Nurul Islam BSC, filed the case following a report aired on ETV on Mar 2 and 3 over lands of Sanwara Holdings Limited, plaintiff's lawyer Syed Qudrat Ali told .
The report termed Mujibur as 'land grabber' and 'extortionist', he said.
"Mujibur Rahman has been defamed by the ETV report. So he has filed the case seeking Tk 2 billion in compensation," he added.
he government has appointed 2,262 of the finally selected candidates of the 30th Bangladesh Civil Service (BCS) examinations conducted by Bangladesh Public Service Commission (BPSC).
The appointees have been asked to join their designated ministries or departments by June 3.
The public administration ministry issued a circular in this regard on Thursday.
Of the total, the highest 560 were appointed in health cadre, 277 in administration, 187 in police, 55 in agriculture, 53 in customs and excise, 25 in economic cadre, 10 in food, 35 in taxation, 56 in fisheries, 20 in foreign affairs and 42 in Ansar cadre.
Besides, 15 were appointed in family planning cadre, seven in cooperatives, five in railways (transportation and commercial), two in commerce, six in postal, 15 in information (general and programme) and 39 in audit and accounting cadre.
The appointees have been asked to join their designated ministries or departments by June 3.
The public administration ministry issued a circular in this regard on Thursday.
Of the total, the highest 560 were appointed in health cadre, 277 in administration, 187 in police, 55 in agriculture, 53 in customs and excise, 25 in economic cadre, 10 in food, 35 in taxation, 56 in fisheries, 20 in foreign affairs and 42 in Ansar cadre.
Besides, 15 were appointed in family planning cadre, seven in cooperatives, five in railways (transportation and commercial), two in commerce, six in postal, 15 in information (general and programme) and 39 in audit and accounting cadre.
Amid dispute with Bangladesh over funding the Padma bridge project, the World Bank says the annual total disbursement for the World Bank–supported projects in Bangladesh has seen an upward trend over the past four years.
The World Bank's current portfolio in Bangladesh consists of 34 active projects with a commitment of $5.8 billion, the highest-ever for the country, a media release of the bank said on Sunday, referring to a portfolio review completed jointly with the government.
The total disbursement for all World Bank-financed projects in the current fiscal until Apr 30 was worth $400 million while the disbursement for the same period in the last fiscal was $305 million, it said.
The portfolio review found satisfactory progress in many projects and noted the need to speed up implementation in others, it added.
The release, however, did not say anything about the $2.9-billion Padma bridge project, halted after the global lender suspended $1.2-billion fund alleging corruption.
"We are encouraged to see results in many areas such as increase in girl's enrolment in schools; schooling, reduction in under-five child mortality or better disaster preparedness that have made Bangladesh a role model for its neighbours," it quoted World Bank Bangladesh's Operations Advisor Christine E Kimes as saying.
"The Government of Bangladesh is fully committed to ensure that external financing is well utilised and for the purposes intended," it said quoting Economic Relations Division's Additional Secretary Arastoo Khan.
Denying the World Bank allegations, Communications Minister Obaidul Quader said earlier in the day, "Construction of Padma bridge will begin with our own funding if we cannot find alternative financier."
The World Bank's current portfolio in Bangladesh consists of 34 active projects with a commitment of $5.8 billion, the highest-ever for the country, a media release of the bank said on Sunday, referring to a portfolio review completed jointly with the government.
The total disbursement for all World Bank-financed projects in the current fiscal until Apr 30 was worth $400 million while the disbursement for the same period in the last fiscal was $305 million, it said.
The portfolio review found satisfactory progress in many projects and noted the need to speed up implementation in others, it added.
The release, however, did not say anything about the $2.9-billion Padma bridge project, halted after the global lender suspended $1.2-billion fund alleging corruption.
"We are encouraged to see results in many areas such as increase in girl's enrolment in schools; schooling, reduction in under-five child mortality or better disaster preparedness that have made Bangladesh a role model for its neighbours," it quoted World Bank Bangladesh's Operations Advisor Christine E Kimes as saying.
"The Government of Bangladesh is fully committed to ensure that external financing is well utilised and for the purposes intended," it said quoting Economic Relations Division's Additional Secretary Arastoo Khan.
Denying the World Bank allegations, Communications Minister Obaidul Quader said earlier in the day, "Construction of Padma bridge will begin with our own funding if we cannot find alternative financier."
State-run oil-gas exploration company BAPEX has found fresh reserves of oil at Kailashtila and Haripur oil fields in Sylhet.
Petrobangla Chairman Hossain Mansur made the announcement at a press briefing at his office at Karwan Bazar on Sunday.
The reserves have a combined 137 million barrels of oil but according to primary estimates, about 55 billion barrels can be extracted a year, Chairman Mansur said.
The current market value of new oil has been put at Tk 420 billion to 450 billion.
BAPEX submitted its report on exploration of the fresh reserves to the state-run Bangladesh Oil, Gas and Mineral Corporation or Petrobangla on Sunday. The oil reserves were found using 3-D seismic survey.
Kailashtila alone has a reserve of 109 million barrels, of which 44 million barrels can be lifted.
The Haripur oil field is believed to have a reserve of 28 million barrels of oil including 11 million barrels extractable in one of the two layers of the reservoir.
"It will take some more time to learn about the oil reserve in the other layer at the Haripur oil field," said Hossain Mansur.
Asked who may be given the job to lift the oil, he indicated that 'a local company' may get the job.
The latest discovery has brought new hopes for Bangladesh's energy-starved economy, added the Petrobangla Chairman.
According to Petrobangla officials, the reserve is enough to meet the country's oil demand for two years as the annual oil demand is around 25 million barrels.
Energy expert Prof Badrul Imam told . "Bangladesh requires oil from 22 million to 25 million barrels every year on average. According to the estimate, Bangladesh may fuel its operations for more than two years with the fresh oil reserves."
Earlier, about 650,000 barrels of oil were extracted from an oil field in Haripur after the field was discovered in 1986. But extraction from the field came to a halt on the grounds that it had not been done following proper procedures.
Petrobangla Chairman Hossain Mansur made the announcement at a press briefing at his office at Karwan Bazar on Sunday.
The reserves have a combined 137 million barrels of oil but according to primary estimates, about 55 billion barrels can be extracted a year, Chairman Mansur said.
The current market value of new oil has been put at Tk 420 billion to 450 billion.
BAPEX submitted its report on exploration of the fresh reserves to the state-run Bangladesh Oil, Gas and Mineral Corporation or Petrobangla on Sunday. The oil reserves were found using 3-D seismic survey.
Kailashtila alone has a reserve of 109 million barrels, of which 44 million barrels can be lifted.
The Haripur oil field is believed to have a reserve of 28 million barrels of oil including 11 million barrels extractable in one of the two layers of the reservoir.
"It will take some more time to learn about the oil reserve in the other layer at the Haripur oil field," said Hossain Mansur.
Asked who may be given the job to lift the oil, he indicated that 'a local company' may get the job.
The latest discovery has brought new hopes for Bangladesh's energy-starved economy, added the Petrobangla Chairman.
According to Petrobangla officials, the reserve is enough to meet the country's oil demand for two years as the annual oil demand is around 25 million barrels.
Energy expert Prof Badrul Imam told . "Bangladesh requires oil from 22 million to 25 million barrels every year on average. According to the estimate, Bangladesh may fuel its operations for more than two years with the fresh oil reserves."
Earlier, about 650,000 barrels of oil were extracted from an oil field in Haripur after the field was discovered in 1986. But extraction from the field came to a halt on the grounds that it had not been done following proper procedures.
Subscribe to:
Posts (Atom)