BANGLADESH

The Dhaka Stock Exchange saw a flurry of activity on Sunday with the turnover crossing the Tk 10 billion mark after five months.

The turnover reached Tk 10.37 billion with 15 minutes of trading left at the premier bourse on the week's opening day. The mark was last crossed on Apr 17 when it hit Tk 10.13 billion.

Along with the increase in trading, the benchmark index also gained 134.22 points or 3.03 percent to close at 4565.73 points. Shares and mutual funds worth Tk 11.36 billion changed hands on the day with prices of 202 issues rising, 57 falling and 12 remaining unchanged.

The DGEN rose 107 points in the previous week and the average turnover was Tk 8.13 billion. In the week before that, the DGEN shed 122 points.

After the recent loan scam in Sonali Bank surfaced, The Anti-Corruption Commission (ACC) on Sunday sued five people including three Rupali Bank officials for their alleged involvement in another financial scam.

ACC Deputy Director Jahangir Alam filed the case at Motijheel Police Station charging them under the Anti-Money Laundering Act for laundering Tk 150 million by providing false information and fake documents.

The accused Rupali Bank officials are Dilkusha branch's General Manager Atiqur Rahman, Senior Principal Officer Abdus Samad Sarker and Gulshan branch Deputy General Manager Mohammad Ali, who was Assistant General Manager at the Dilkusha branch.

The two other accused are Everest Holdings and Technology Limited Chairman Abu Borhan Siddiqe Chowdhury and Managing Director HM Bahauddin.

The ACC alleged the Dilkusha branch officials approved Tk 150 million loan to Everest Holdings and Technology Limited against a request for Tk 250 million in the time between Aug 16, 2010 and Jan 30, 2011 without proper inspection.

Recently, Sonali Bank Limited faced widespread criticism over the loan forgery that took place in the bank's Ruposhi Bangla Hotel branch from where the Hallmark Group, along with other organisations, secured Tk 40 billion worth of loans through forged documents.

Bangladesh Bank unearthed the scam in a recent review which said that Hallmark Group alone took out over Tk 26 billion of the credit against phony collateral.

The ACC is investigating the matter and has interrogated top officials of the bank and other companies.

Main opposition BNP has announced it will formulate a draft strategy to resolve the problems plaguing the power and energy sectors.

The party claimed that the strategy would also help reduce electricity tariff at the domestic consumer level when it is voted to power in the next parliamentary election.

BNP Acting Secretary General Mirza Fakhrul Islam Alamgir and party's Standing Committee Member Khandaker Mosharraf Hossain came up with idea on Saturday at a roundtable on the power and energy crisis in the city.

Mosharraf said an anarchic situation had emerged in the power and energy sectors of the country due to the government's wrong and ill-motivated policies.

"To get rid of the situation, we've to formulate a strategy right now, so that we can work for development of the sectors from the very first day if we're voted to power in future."

He said that a national committee on energy would be formed soon comprising experts.

Fakhrul said, "We want to formulate such a sustainable energy strategy so that the countrymen can get its advantage. If the BNP comes to power in future, the electricity tariffs will be reduced at the domestic consumer level under the strategy."

Readymade garment workers staged violent demonstrations on the Dhaka-Chittagong and Dhaka-Sylhet highways for two and a half hours, keeping the traffic on the busy highways suspended.

Workers and eyewitnesses said the 'rumour' of beating a worker to death enraged his fellow workers at the Adamjee EPZ while workers at the Sinha Garments at Kachpur took to the street protesting against what they termed lack of security on highway and the recent rise in incidents of 'snatching'.

Police had to fire over a hundred rounds of rubber bullets and tear shells to disperse the protesters and bring the situation under control around 1:45pm, leading to resumption of vehicular movement, said Narayanganj district Police Superintendent Sheikh Najmul Alam.

The aggrieved workers set fire to a police pick-up van, a police box and four bikes in retaliation as they clashed with the law enforcers. About 50 were injured during the clash.

Workers of Sinha Garments at Kachpur, Anjuman Ara, 'Delwar' and 'Ohidul' said some of their colleagues were robbed in the Siddhirganj area over the last few days, prompting them to complain to the local administration but in vain.

Residents said workers from Adamjee EPZ blocked the Dhaka-Chittagong highway around 12 pm after a rumour was circulated that one of their colleagues was beaten to death in the morning, causing a huge traffic tailback.

The government on Sunday opened up the local market to import of eggs and one-day-old chicks to increase supply in an attempt to make them cheaper.

The Ministry of Commerce issued a circular saying importers will not need to secure the ministry's permission to buy eggs or chicks from abroad.

The move aims to meet growing consumer demand and rein in abnormal price hikes, the circular said.

It said eggs of hens, ducks and other birds can be imported without any restrictions until further notice.

At present, a dozen of eggs of hens and ducks is sold at Tk 120 in the local market.

On June 9, the government had decided to open up the local market until Jun 30 to import of eggs and chicks to meet up the growing demand during the Ramadan. The time was further extended to Aug 31.

The remaining six judges of the Supreme Court bench that declared the 13th constitutional amendment illegal signed the full verdict on Sunday night, almost a year and a half after the historic judgment rescinded the caretaker government provision.

The full copy of the verdict, reached by a majority decision, was signed around 10pm following a series of meetings among the judges throughout the day.

Former Chief Justice ABM Khairul Haque and Supreme Court Registrar AKM Shamsul Islam confirmed bdnews24.com about the signing of the full verdict.

Justice Haque had signed the 342-page judgement in the Supreme Court on Thursday.

He was the top judge who headed the seven-strong bench that delivered the verdict on May 10, 2011. Justices Mahmud Hossain, Sinha and Mozammel Hossain agreed with him. Justices Wahab Miah and Sultana differed while Justice Iman Ali left the matter for Parliament to decide.

The judgement declared illegal the 15-year-old constitutional provision that mandated an elected government to transfer power to an unelected non-partisan caretaker administration to oversee a new parliamentary election on completion of its term.

In its short verdict, the apex court also observed that the rescinded system may be practised for another two parliamentary terms.

On June 30 last year, the Awami League-led Grand Alliance finally abolished the caretaker government system allowing general elections under elected partisan governments.

The court also asked Parliament to amend the Constitution to make sure that former Chief Justices or any other Supreme Court judges are not chosen as head of caretaker governments in case the system is kept for another two parliamentary elections.

This is the first time a verdict has been written in mixed languages – Bengali and English. Usually the court writes verdict in English. Justice Khairul Haque wrote the main part of the verdict in Bengali. Justice Ali wrote 150 pages of the verdict.

The main opposition BNP has been opposing the constitutional amendment claiming that the government partly implemented the verdict, but overlooked the other part on two elections under the caretakers.

The opposition insists that no election will be allowed under any partisan government. Though the caretaker government was introduced first in 1996, the elections taken place in 1990 were held under an interim government.

The BNP was forced by Awami League to introduce the caretaker government system through constitutional amendment for the first time. But the system came under scrutiny as the last military-backed caretaker government, which had a three-month mandate to hold elections, managed to linger on power for two years since 2007.

The High Court announced the caretaker government system legal after several people including Advocate M Salim Ullah challenged the 13th Amendment in 2004. They challenged the decision at the Appellate Division, drawing out the order.

Sonali Bank had transferred the General Manager the day before the audit team he had constituted began looking into the papers in the Hallmark scam.

Two other officials were also transferred for the same reason.

The bank's former General Manager (International Trade and Commerce) ANM Masroor-ul-Huda Seraji told reporters about the punishment after he was quizzed by Anti-Corruption Commission (ACC) on Sunday.

"I got a report on this financial transaction on January 1 last after I was appointed GM for International Trade and Commerce Department of the bank. Later I constituted the audit team on my own, which invited pressures on me from all around," said Siraji.

Siraji, who is currently acting as GM for the bank's Rangpur Division, was transferred to Sylhet, a day before the audit team began its probe. He was transferred twice later, to Comilla and Rangpur.

Asked if he faced difficulties in constituting the audit team, Siraji said, "I cannot divulge any information regarding this matter in the interest of a fair investigation. However, two other people other than me were also transferred in connection with the same matter."

Besides Siraji, ACC also questioned five other senior Sonali Bank officials over the scandal that involves misappropriation of over Tk 36 billion disbursed from the bank's Ruposhi Bangla Hotel Branch.

The other quizzed are General Managers Nowsher Ali, Md Abu Musa and Mohammad Mahbubul Haque, and Deputy General Managers Sheikh Altaf Hossain and Shafiuddin Ahmed.

Haq told reporters, "I had gone on LPR when the incident happened. I am in no way involved with the incident."

Musa termed the scam "unusual" and "undesirable' and demanded a proper investigation.

The ACC earlier questioned 23 other officials of the bank over the scandal. It has also decided to question Prime Minister's Health and Family Affairs Advisor Syed Modasser Ali over the scandal.

Four other officials of the banks are expected to be interrogated on Monday.

The central bank recently revealed that more than Tk 36 billion were disbursed by the Ruposhi Bangla Hotel Branch of Sonali Bank, without notable collateral. Of the amount, Hallmark Group embezzled over Tk 26 billion alone.

Sonali Bank has suspended 20 officials while two Deputy Managing Directors have been made Officer on Special Duty.

After the scam broke out, the Bangladesh Bank proposed sacking the current Board of Directors of the largest commercial bank. Finance Minister AMA Muhith rebuked the central bank and the government reappointed the bank's Chairman Kazi Baharul Islam.

The BNP has been alleging involvement of government high-ups in the rip-off.

Biman Bangladesh Airlines cancelled three scheduled flights on Sunday and is facing a schedule disaster.

Travel plans of thousands of passengers who were scheduled to leave for Middle Eastern destinations were thrown into chaos.

Thousands of passengers were seen in the terminal at the Shahjalal International Airport on Sunday morning. Most of them were bound for Kuala Lumpur, Riyadh, Dubai and Jeddah.

The disarray was caused after a Boeing 747, which can carry 500 passengers and was hired from Portuguese charter company Air Atlanta, left on Sept 12 before time agreed in a deal between Biman and the company.

The agreement stipulated the plane fly 3,000 hours in total, 250 hours a month. The deal was supposed to expire on Sept 20, but the plane left for Portugal from Muscat airport in Oman on Sept 12 leaving 225 passengers there.

The Boeing 747 was operating between Bangladesh and Middle Eastern cities including Riyadh, Dubai, Jeddah and Oman.

Biman says eight more flights with over 450 passengers on board each time were remaining in the deal. Biman's regular flight plans were upset as it started flying the passengers stuck at the airport on smaller planes to their destinations.

According to the Biman Control Room, the international flights – Dhaka- London (BG-005), Dhaka-Abu Dhabi (BG-027) and domestic flight Dhaka-Sylhet (BG-061) were cancelled to maintain the schedule for Middle Eastern countries.

In the midst of all these, thousands of passengers stranded at the airport have alleged that Biman authorities were not providing required assistance even after their flights were cancelled.

Malaysia-bound Anisur Rahman, waiting at the airport's Terminal 2, told bdnews24.com: "My flight was at 11am on Saturday. But I came to know the flight has been cancelled after I got in here. I was told to contact again at 8am today (Sunday)."

He alleged he did not get any of the privileges from the Biman authorities even though they are supposed to provide food and accommodation for passengers of the cancelled flights.

Like Anisur, Malaysia-bound passenger Mohammad Masum of Bhairab and Dubai-bound passenger Sajib Mia have been waiting at the airport since Saturday.

Sajib said, "My flight was at 7pm Saturday. After I came here, I found out that it will be delayed. I have been told to contact officials at 10pm tonight, but I can't trust them."

No-one body was able to console a weeping Mohammad Shafiullah who was supposed to leave for Abu Dhabi on Friday.

He told bdnews24.com: "Four of us came here on Sept 14 to catch our flight to Abu Dhabi. And now we are being told to contact the authorities at 2pm tomorrow (Monday). We don't have any money left. I don't know what to do now, I only have Tk 100 in my pocket."

Kuwait-bound passengers demonstrated and took out rallies on the airport premises demanding flights to take them to their destination. Biman staff took them inside the terminal after the journalists arrived at the scene. No reporters were allowed to enter the terminal.

When contacted, Biman's Acting Managing Director Mosaddek Ahmed declined comment on the matter.