VVIPs’ fuel bills set
to jump by 74pc
Though the government envisaged measures to check unnecessary spending by its offices to decrease pressure on the national economy, a proposal for fuel bill enhancement for 12 Very Very Important Persons in the Jatiya Sangsad says otherwise. The estimated fuel cost for the VVIPs is set to jump up by 74 per cent and will cost the national exchequer a pretty penny in the revised budget...[ + ]
Fresh controversy puts machine-readable passport project in doubt
Influentials out to grab undue benefits
from the project
Issuing of machine-readable passports before the tenure of the alliance government ends in October has become uncertain as fresh controversies over selection of a firm have derailed the home ministry’s mega-project, according to sources in the ministry. They said the tender evaluation committee found gross errors in the financial evaluation of a German firm, Giesecke and Devrent, but the ministry is out to select this company...[ + ]
Concessional tax likely
on NGOs’ micro-credit operations
The government plans to impose a concessional tax of 15-20 per cent on the income of non-governmental organisation from 2006-07, official sources said. The finance and planning minister, M Saifur Rahman, has already asked officials concerned to incorporate the provision for concessional tax, in place of the regular rate of 40 per cent, in the Finance Bill 2006...[ + ]
BGMEA receives damage reports from 35 factories
The Bangladesh Garment Manufacturers and Exporters Association has so far received damage reports from 35 factory owners who estimated the damage caused by last week’s industrial riots at about Tk 60 crore, said sources in the association. Scores of readymade garment factories were vandalised during the three days of workers’ unrest in and around Dhaka...[ + ]
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Limit road projects in next ADP: BIDS
Incorporation of excessive road projects, mainly on political consideration, burdens the annual development programme and ends up halfway due to scanty allocation of resources, the government’s economic think tank says. ‘A large number of road projects are often taken up on political consideration resulting in very thin distribution of resources and consequent slow rate of project implementation,’ said Bangladesh Institute of Development Studies in its policy recommendations for the upcoming national budget...[ + ]
Electric goods makers demand
tax holiday till 2015
The electric equipment manufacturers of the country on Saturday demanded tax holiday up to 2015 in the interest of growth of the industry. They also urged the government to impose high import duty on the electrical equipment which have equivalents produced by the local industries. At a press conference, they said that the government should encourage the local manufacturers of electric equipment including power supply devices by providing them with different incentives like tax rebate to face the crisis of power...[ + ]
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Restaurant owners want 20pc VAT on gross profit
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Taka depreciation, inflation thwart BB’s tight monetary policy
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DSE stays bearish
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BIDS forwards policy recommendations on budget
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NEC considers new, revised ADP today
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Govt yet to allocate fund for textile survey
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Canada to push US for clean energy security
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Canon president and vice president due today
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China urges FTA with S Korea
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Sands wins Singapore’s casino bids
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Two convicted in Australian currency scandal
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