Posts
South Asia In Bangalore, animosity between Kannadigas & non-Kannadigas
- By Paitoo
- South Asian Affairs
- 16 Replies
I don't blame the locals. In fact on various other fora I sympathise with some of their views. Locals lie on a spectrum. Most are benign and only mildly resentful. They don't go to the extent of telling immigrants to get out. Their ask is mainly that be culturally sensitive, try to learn the language to a basic level and don't expect locals to speak your native language. All fair asks anywhere in the world.I don't think one can blame the locals. Often people from other states especially Bihar, UP, Hariana, Marwar and Gujarat are overly aggressive about imposition of Hindi on native language speakers, as if it is the Lingua Franca. You have to have respect for these native languages, Hindi imposition will not work. It's a losing game.
This is happening in TN, In Telangana, in Kerala and of course in West Bengal.
In WB there are militant Biharis and UP people sparring with Bengali locals, asking them to speak Hindi. Things have escalated to fisticuffs and loud exchanges in Kolkata Metro.
Bangla-Hindi row at metro stn | Kolkata News - Times of India
Kolkata: An argument broke out between a passenger at the Howrah Metro station and the employee handling the booking counter on Tuesday allegedly over.timesofindia.indiatimes.com
‘You’re Not In Bangladesh, Speak In Hindi’: Video Of Women Quarreling In Kolkata Metro Goes Viral - News18
The altercation escalated when a Bengali woman, along with another individual nearby, challenged the Hindi-speaking woman, resulting in a heated exchange.www.news18.com
This has had quite a backlash against Hindi as a language, over Bengali I am afraid.
I speak workable Kannada and use it while conversing with locals. They are very happy when you do so and don't mind switching to Hindi. Never had a problem with their attitude. Even if you can't speak a word of Kannada, speaking respectfully helps. Recent IT migrants (not the old IT migrants) are a brash lot. These are mostly Kota factory robots with zero social etiquette, only taught to be competitive. Everything is very transactional for them. They have no interest or stake in the city or it's culture.
[🇷🇺] Russian missile scientist ‘assassinated by Ukrainian special forces
- By Mainerik
- Russian Defense Forum
- 0 Replies
A Russian scientist known for developing cruise missiles has been found shot dead in a snowy wooded area near Moscow.
Ukraine’s intelligence service claimed that it had assassinated Mikhail Shatsky, the deputy director of a Moscow-based ballistics engineering unit.
“Anyone who is involved in the development of the Russian military-industrial complex and support of Russian aggression in Ukraine one way or another is a legitimate target,” a Ukrainian defence source told the Kyiv Independent.
[🇮🇳] 1971 Bangladesh Liberation War - NYT praises Indian Army
- By Vsdoc
- Indian Defense Forum
- 0 Replies
Sydney Schanberg, who covered 1971 Bangladesh Liberation War for The New York Times, wrote this about the Indian Army: “I don’t like sitting around praising armies. I don’t like armies because armies mean wars. But this (Indian) army was something. They were great all the way. _There never was a black mark … I lived with the officers, and I walked and rode with the jawans. They were all great. But I never saw a man flinch because he was scared. There was a tremendous spirit in the Indian Army, and it did one good to experience it. _“I have seen our boys [US Army] in Vietnam—and this army was different. Their arms and equipment aren’t as good-but what they had were used with effect and boy! could they improvise. I saw heavy recoilless guns carried on shoulders, big guns pushed across marshes like ox-carts, by jawans, villagers, officers, everybody was in it together, and they were perfect gentlemen. I never saw them do a thing wrong, not even when they saw just how bestial the enemy had been.”
Cheers, Doc
Middle East/Africa Houthi-Israel Conflicts : Around Yemen and Beyond
- By Lulldapull
- Middle East & African Affairs
- 4 Replies
Hoosi Baaghi have downed an F-18E/F and the Eisenhower yet again in full retreat toward dumb-maam in Sawdi Judea at full speed cuz it can’t take on drone swarms, ballistic and cruise mijjhile showers on it.
.
South Asian bicharay hairaan/ pareshaan….
@Vsdoc @Sharma Ji @Dogun18 @Krishna with Flute @PakistanProud @RayKalm @Bagheera0084 @Saif @Bilal9
.South Asian bicharay hairaan/ pareshaan….
@Vsdoc @Sharma Ji @Dogun18 @Krishna with Flute @PakistanProud @RayKalm @Bagheera0084 @Saif @Bilal9
[🇧🇩] Disinformation/Misinformation in Indian Media on communal attacks in Bangladesh
- By Saif
- Bangladesh Defense Forum
- 69 Replies
CA press wing debunks PTI report on Hindu man killing in Natore
Chief adviser's press wing has termed a news item of Indian news agency Press Trust of India (PTI) over the killing of a Hindu man at a crematorium in Natore "misleading and exaggerated."
en.prothomalo.com
CA press wing debunks PTI report on Hindu man killing in Natore
BSS
Published: 22 Dec 2024, 18: 46
Chief adviser's press wing has termed a news item of Indian news agency Press Trust of India (PTI) over the killing of a Hindu man at a crematorium in Natore "misleading and exaggerated."
"After a man was killed in a possible theft at a crematorium in Natore, Indian news agency Press Trust of India (PTI) described the incident as communal violence without proper verification," CA press wing said in a statement posted on its verified Facebook page - CA Press Wing Facts - today.
On Saturday, PTI published the news quoting a video published on the X (formerly Twitter) handle of Kolkata ISKCON spokesperson Radharaman Das. No Bangladeshi authorities, Hindu leaders, or relatives of the victims were quoted in this news.
Many Indian media, including Hindustan Times and The Indian Express, published the PTI item.
Hrishikesh Gauranga Das, a member of the executive committee of the International Society for Krishna Consciousness (ISKCON) Bangladesh, said: "It is not responsible to pass off an incident as a communal murder without verifying it. Such exaggerated news can damage communal harmony in Bangladesh."
Confirming that Tarun Kumar was not a member of ISKCON, he urged the media to collect information at the local level or through official channels before publishing any such news.
Police recovered the body of a man named Tarun Kumar Das, 60, from the Bara Harishpur cremation ground under Sadar Police Station in Natore district on Saturday.
Initially, it is suspected that the killer strangled the victim to death as he screamed when unidentified thieves were carrying out the burglary at the Bhogghar inside the cremation ground.
Police said some bronze plates were stolen from the crematorium.
According to a local Hindu community leader, the victim was mentally ill for a long time and had been staying at the crematorium for several days, the statement read.
Natore Sadar police's officer in charge (OC) Md Mahbubor Rahman said, "Based on the information we received from Saturday to Sunday morning, it is initially believed that some drug addicts tried to steal the bronze plates. All possible motives for the murder are being investigated."
Satya Narayan Roy Tipu, general secretary of the cremation committee in Natore, said, "Tarun Kumar is not a member of the cremation committee, and he was not a priest. He was a bit mentally unstable."
"Tarun Kumar was not a member of ISKCON or any other organisation. We do not think there is any communal involvement in this incident."
BSS
Published: 22 Dec 2024, 18: 46
Chief adviser's press wing has termed a news item of Indian news agency Press Trust of India (PTI) over the killing of a Hindu man at a crematorium in Natore "misleading and exaggerated."
"After a man was killed in a possible theft at a crematorium in Natore, Indian news agency Press Trust of India (PTI) described the incident as communal violence without proper verification," CA press wing said in a statement posted on its verified Facebook page - CA Press Wing Facts - today.
On Saturday, PTI published the news quoting a video published on the X (formerly Twitter) handle of Kolkata ISKCON spokesperson Radharaman Das. No Bangladeshi authorities, Hindu leaders, or relatives of the victims were quoted in this news.
Many Indian media, including Hindustan Times and The Indian Express, published the PTI item.
Hrishikesh Gauranga Das, a member of the executive committee of the International Society for Krishna Consciousness (ISKCON) Bangladesh, said: "It is not responsible to pass off an incident as a communal murder without verifying it. Such exaggerated news can damage communal harmony in Bangladesh."
Confirming that Tarun Kumar was not a member of ISKCON, he urged the media to collect information at the local level or through official channels before publishing any such news.
Police recovered the body of a man named Tarun Kumar Das, 60, from the Bara Harishpur cremation ground under Sadar Police Station in Natore district on Saturday.
Initially, it is suspected that the killer strangled the victim to death as he screamed when unidentified thieves were carrying out the burglary at the Bhogghar inside the cremation ground.
Police said some bronze plates were stolen from the crematorium.
According to a local Hindu community leader, the victim was mentally ill for a long time and had been staying at the crematorium for several days, the statement read.
Natore Sadar police's officer in charge (OC) Md Mahbubor Rahman said, "Based on the information we received from Saturday to Sunday morning, it is initially believed that some drug addicts tried to steal the bronze plates. All possible motives for the murder are being investigated."
Satya Narayan Roy Tipu, general secretary of the cremation committee in Natore, said, "Tarun Kumar is not a member of the cremation committee, and he was not a priest. He was a bit mentally unstable."
"Tarun Kumar was not a member of ISKCON or any other organisation. We do not think there is any communal involvement in this incident."
[🇧🇩] Forming Election Commission/Conducting Elections
- By Saif
- Bangladesh Defense Forum
- 37 Replies
EC will decide who will join elections: Badiul Alam Majumder
People from different strata expressed their opinions at the event where two other members of the commission – Tofail Ahmed and Jesmin Tuli – were also present.
en.prothomalo.com
EC will decide who will join elections: Badiul Alam Majumder
Staff Correspondent
Dhaka
Published: 22 Dec 2024, 19: 08
Badiul Alam Majumder, head of the electoral system reform commission, speaks at a an event to exchange views on reform to the electoral system in Chattogram on 22 December 2024.Prothom Alo
Head of the electoral system reform commission, Badiul Alam Majumdar, has said, “The election commission will decide who will join the election and who are eligible or ineligible for polls, whereas our tasks are to place proposals on reform to the electoral system.”
Badiul Alam Majumdar said this replying to journalists’ queries on the participation of all political parties in elections after an event to exchange views on reform to the electoral system in Chattogram on Sunday.
People from different strata expressed their opinions at the event where two other members of the commission – Tofail Ahmed and Jesmin Tuli – were also present.
Saying that everyone wants a fair election, Badiul Alam Majumdar added, “We will places some proposals but it is the responsibility of the government to implement those.”
Regarding the election deadline, he said, “We expect to make recommendations by 31 December. The chief adviser said that let the election train roll on the track and the formation of the election commission was their first task. Our tasks do not contradict with theirs but they still have lots to do that include updating voter lists, and it is necessary to start those tasks.”
He said, “We will recommend on reform to electoral system. We also are considering everything including proportional representation. But these are not our decisions. These issues require change to constitution and the commission to change constitution should make these recommendations.”
Staff Correspondent
Dhaka
Published: 22 Dec 2024, 19: 08
Badiul Alam Majumder, head of the electoral system reform commission, speaks at a an event to exchange views on reform to the electoral system in Chattogram on 22 December 2024.Prothom Alo
Head of the electoral system reform commission, Badiul Alam Majumdar, has said, “The election commission will decide who will join the election and who are eligible or ineligible for polls, whereas our tasks are to place proposals on reform to the electoral system.”
Badiul Alam Majumdar said this replying to journalists’ queries on the participation of all political parties in elections after an event to exchange views on reform to the electoral system in Chattogram on Sunday.
People from different strata expressed their opinions at the event where two other members of the commission – Tofail Ahmed and Jesmin Tuli – were also present.
Saying that everyone wants a fair election, Badiul Alam Majumdar added, “We will places some proposals but it is the responsibility of the government to implement those.”
Regarding the election deadline, he said, “We expect to make recommendations by 31 December. The chief adviser said that let the election train roll on the track and the formation of the election commission was their first task. Our tasks do not contradict with theirs but they still have lots to do that include updating voter lists, and it is necessary to start those tasks.”
He said, “We will recommend on reform to electoral system. We also are considering everything including proportional representation. But these are not our decisions. These issues require change to constitution and the commission to change constitution should make these recommendations.”
[🇧🇩] Bangladesh Tourism
- By Saif
- Bangladesh Culture & Arts
- 40 Replies
Unilever Bangladesh, Kewkradong Bangladesh organise coastal cleanup at Saint Martin's Island
Unilever Bangladesh Limited (UBL), partnered with Kewkradong Bangladesh (KB) to conduct a Coastal Cleanup at Saint Martin's Island. 350 volunteers removed 1,500 kilograms of marine debris from the island’s beach and ensured safe disposal on the mainland. The predominant types of debris inclu
Unilever Bangladesh, Kewkradong Bangladesh organise coastal cleanup at Saint Martin's Island
FE Online Desk
Published :
Dec 22, 2024 20:42
Updated :
Dec 22, 2024 20:42
Unilever Bangladesh Limited (UBL), partnered with Kewkradong Bangladesh (KB) to conduct a Coastal Cleanup at Saint Martin's Island.
350 volunteers removed 1,500 kilograms of marine debris from the island’s beach and ensured safe disposal on the mainland. The predominant types of debris included food wrappers, plastic beverage bottles, bottle caps, plastic bags, utensils, and lids, according to a media release.
Kewkradong Bangladesh (KB), Bangladesh’s Country Coordinator of the US-based non-profit Ocean Conservancy, has been conducting beach cleanups at Saint Martin’s Island for the past 13 years. The organisation has been associated with cleanup programmes along the Cox's Bazar - Teknaf peninsula and St. Martin's Island. These initiatives contributed to the collection of data on marine debris for the global record and analysis.
This year, the initiative gained new momentum with the involvement of UBL, continuing the significant efforts that have mobilized over 5,700 volunteers and removed more than 28,500 kilograms of marine debris from the island’s shores, the release says.
Shamima Akhter, Director - Corporate Affairs, Partnerships & Communications, Unilever Bangladesh Limited, said, "Since 2020, Unilever Bangladesh has been dedicated to fulfilling its commitment to plastic sustainability through various initiatives. Since 2022, we have been collecting and processing more plastic than we sell in Bangladesh. However, we recognize that plastic waste pollution is too large of an issue for us to tackle alone. We must collaborate to design scalable systems and interventions that will reduce our environmental footprints and protect vulnerable ecosystems, such as St. Martin's Island. This year, the St. Martin Coastal Cleanup, in partnership with Kewkradong Bangladesh, engaged youth volunteers and the local community to foster a sense of shared responsibility and demonstrate our commitment to improving the ecosystem."
Muntasir Mamun, Country co-coordinator, Ocean Conservancy’s International Coastal Cleanup, said, “It is a wonderful thing that Bangladesh is the biggest delta on Earth and has incredible sea beaches in various locations. Saint Martin is one of the national treasures of this country. However, evolving socioeconomic challenges are consistently creating a threat to the biodiversity of the beautiful island and the seashore. We believe Unilever’s proactive environmental stewardship will reach a new height as together, our partnership will inspire others to do what’s good for Bangladesh.”
FE Online Desk
Published :
Dec 22, 2024 20:42
Updated :
Dec 22, 2024 20:42
Unilever Bangladesh Limited (UBL), partnered with Kewkradong Bangladesh (KB) to conduct a Coastal Cleanup at Saint Martin's Island.
350 volunteers removed 1,500 kilograms of marine debris from the island’s beach and ensured safe disposal on the mainland. The predominant types of debris included food wrappers, plastic beverage bottles, bottle caps, plastic bags, utensils, and lids, according to a media release.
Kewkradong Bangladesh (KB), Bangladesh’s Country Coordinator of the US-based non-profit Ocean Conservancy, has been conducting beach cleanups at Saint Martin’s Island for the past 13 years. The organisation has been associated with cleanup programmes along the Cox's Bazar - Teknaf peninsula and St. Martin's Island. These initiatives contributed to the collection of data on marine debris for the global record and analysis.
This year, the initiative gained new momentum with the involvement of UBL, continuing the significant efforts that have mobilized over 5,700 volunteers and removed more than 28,500 kilograms of marine debris from the island’s shores, the release says.
Shamima Akhter, Director - Corporate Affairs, Partnerships & Communications, Unilever Bangladesh Limited, said, "Since 2020, Unilever Bangladesh has been dedicated to fulfilling its commitment to plastic sustainability through various initiatives. Since 2022, we have been collecting and processing more plastic than we sell in Bangladesh. However, we recognize that plastic waste pollution is too large of an issue for us to tackle alone. We must collaborate to design scalable systems and interventions that will reduce our environmental footprints and protect vulnerable ecosystems, such as St. Martin's Island. This year, the St. Martin Coastal Cleanup, in partnership with Kewkradong Bangladesh, engaged youth volunteers and the local community to foster a sense of shared responsibility and demonstrate our commitment to improving the ecosystem."
Muntasir Mamun, Country co-coordinator, Ocean Conservancy’s International Coastal Cleanup, said, “It is a wonderful thing that Bangladesh is the biggest delta on Earth and has incredible sea beaches in various locations. Saint Martin is one of the national treasures of this country. However, evolving socioeconomic challenges are consistently creating a threat to the biodiversity of the beautiful island and the seashore. We believe Unilever’s proactive environmental stewardship will reach a new height as together, our partnership will inspire others to do what’s good for Bangladesh.”
[🇧🇩] Monitoring Bangladesh's Economy
- By Saif
- Bangladesh Trade & Industry
- 403 Replies
The country facing an economic imbroglio
The country's economic growth projection measured in terms of Gross Domestic Product (GDP) in the current fiscal year has been revised downwards to 3.8 per cent by the global lender, the International Monetary Fund (IMF). A review mission of the multilateral lending agency in a statement during its
The country facing an economic imbroglio
SYED FATTAHUL ALIM
Published :
Dec 22, 2024 22:12
Updated :
Dec 22, 2024 22:12
The country's economic growth projection measured in terms of Gross Domestic Product (GDP) in the current fiscal year has been revised downwards to 3.8 per cent by the global lender, the International Monetary Fund (IMF). A review mission of the multilateral lending agency in a statement during its visit last week came up with the revised GDP growth projection. This is the country's lowest growth projection since FY (2019-20), the pandemic year, when the GDP growth was 3.4 per cent. Notably, in October, IMF projected that the nation's economic growth would be 4.5 per cent, which was a reduction by 2.1 percentage points from June's projection at 6.6 per cent.
The reasons cited this time for the low growth were similar to those pointed out by the IMF delegation during its October visit that include political instability, high inflation, unrest in industries, floods that struck the country in the third week of August this year, etc. However, another major contributor to the economy's lack of growth is the central bank's raised policy rate (the rate of interest at which the BB lends money to the commercial banks). In consequence, the commercial banks have increased lending rate which is impacting business negatively. The objective of the BB's increasing policy rate is to rein in inflation at the advice of the IMF which made borrowing costlier resulting in less money circulating in the market. Termed contractionary monetary policy, the measure has been taken as a condition of the loan amounting to US$4.7 billion that the multilateral lender approved for Bangladesh in January 2023.
The IMF loan aims to bring macroeconomic stability in the economy in the long run. However, in the short run, it is dampening investment and business. Understandably, the business community is blaming the IMF's various conditions against the loan it (IMF) advanced and suggestions made to the government for its woes. Especially, the multilateral lender's suggestion of adjusting gas and fuel oil prices with those in the international market, which businesses think will render business costlier. Also, they fear, the IMF's idea of leaving the exchange rate of US dollar entirely to the mercy of the market would turn it volatile as black market operators and speculators might take undue advantage of the decision. Ultimately, that would seriously affect external trade, they believe. These are definitely genuine concerns of business people. But what needs also to be taken into account is that even before receiving the IMF loan, the business activities had already been under stress due to the restrictions on import that the previous government had opted for as part of its austerity policy. Obviously, that affected the import of raw materials, capital goods and other inputs for business and the industry. One cannot be oblivious of the fact that the austerity policy was adopted to save the foreign exchange reserve from depleting faster and avoid facing the Sri Lanka syndrome. In 2022 Sri Lanka experienced an economic meltdown in which the country's foreign exchange reserve hit rock bottom for various reasons including overdependence on debt, weak export, impact of Covid-19 on tourism, a mainstay of its foreign exchange earning and so on. Definitely, that caused business to suffer immensely. Against this backdrop, the previous government sought the IMF loan to stabilise the economy, knowing full well that it would be a bitter pill to swallow, if only for the greater good of the ailing economy. One may recall that at that time the economy was in a shambles, thanks to the overall mismanagement of the economy, fragility of the financial sector due to rampant looting of the banks and other financial institutions, unrestrained rise in bad loans in the banks with the connivance of the banking regulator (the BB) and the powers that be.
So, to restore some semblance of discipline in the financial sector and assure prospective investors from abroad that it was yet not all over with Bangladesh's economy the IMF loan was asked for. It is this legacy that the deposed government has left for the interim government to grapple with. As a result, it is not only the business community, the common people, who are the overwhelming majority are suffering. Food inflation rate in November was 13.80 per cent, while the inflation at 11.38 per cent in November is a record four-month high. The international lender said the inflation would remain around 11 per cent throughout the rest of the current fiscal year with the hope that it would come down to 5.0 per cent in FY 2026. The lender believes it would be due to tight monetary policy and easing of supply pressures. But still uncertainties would remain. Clearly, Bangladesh economy is in a fix. What is the way out? Return to the earlier state of free fall or continue the IMF-prescribed policy? True, there are critiques of IMF's loan conditionalities that put restrictions on the recipient country's fiscal and monetary policies leading to shrinking of public and private investments. Decline in private investment means rise in unemployment. But when a national currency's, or for that matter, economy's, worth is measured in US dollar as reserve currency, weak economies like Bangladesh face such a dilemma. Even so, the government could still negotiate with the IMF authorities on issues like if the exchange rate of USD against Taka should be left entirely to the market or the existing limits in line with the crawling peg system should continue. Also, the IMF-prescribed classification and labelling of the Non-Performing Loan (NPL) is also an issue. Notably, now a loan will be considered a default one, if the borrower fails to clear the debt within 90 days of its last date of repayment.
The government will be required to address these urgent issues through talks with the IMF so that some stringent conditions could be, where possible, relaxed for the sake of the businesses affected by the rules.
SYED FATTAHUL ALIM
Published :
Dec 22, 2024 22:12
Updated :
Dec 22, 2024 22:12
The country's economic growth projection measured in terms of Gross Domestic Product (GDP) in the current fiscal year has been revised downwards to 3.8 per cent by the global lender, the International Monetary Fund (IMF). A review mission of the multilateral lending agency in a statement during its visit last week came up with the revised GDP growth projection. This is the country's lowest growth projection since FY (2019-20), the pandemic year, when the GDP growth was 3.4 per cent. Notably, in October, IMF projected that the nation's economic growth would be 4.5 per cent, which was a reduction by 2.1 percentage points from June's projection at 6.6 per cent.
The reasons cited this time for the low growth were similar to those pointed out by the IMF delegation during its October visit that include political instability, high inflation, unrest in industries, floods that struck the country in the third week of August this year, etc. However, another major contributor to the economy's lack of growth is the central bank's raised policy rate (the rate of interest at which the BB lends money to the commercial banks). In consequence, the commercial banks have increased lending rate which is impacting business negatively. The objective of the BB's increasing policy rate is to rein in inflation at the advice of the IMF which made borrowing costlier resulting in less money circulating in the market. Termed contractionary monetary policy, the measure has been taken as a condition of the loan amounting to US$4.7 billion that the multilateral lender approved for Bangladesh in January 2023.
The IMF loan aims to bring macroeconomic stability in the economy in the long run. However, in the short run, it is dampening investment and business. Understandably, the business community is blaming the IMF's various conditions against the loan it (IMF) advanced and suggestions made to the government for its woes. Especially, the multilateral lender's suggestion of adjusting gas and fuel oil prices with those in the international market, which businesses think will render business costlier. Also, they fear, the IMF's idea of leaving the exchange rate of US dollar entirely to the mercy of the market would turn it volatile as black market operators and speculators might take undue advantage of the decision. Ultimately, that would seriously affect external trade, they believe. These are definitely genuine concerns of business people. But what needs also to be taken into account is that even before receiving the IMF loan, the business activities had already been under stress due to the restrictions on import that the previous government had opted for as part of its austerity policy. Obviously, that affected the import of raw materials, capital goods and other inputs for business and the industry. One cannot be oblivious of the fact that the austerity policy was adopted to save the foreign exchange reserve from depleting faster and avoid facing the Sri Lanka syndrome. In 2022 Sri Lanka experienced an economic meltdown in which the country's foreign exchange reserve hit rock bottom for various reasons including overdependence on debt, weak export, impact of Covid-19 on tourism, a mainstay of its foreign exchange earning and so on. Definitely, that caused business to suffer immensely. Against this backdrop, the previous government sought the IMF loan to stabilise the economy, knowing full well that it would be a bitter pill to swallow, if only for the greater good of the ailing economy. One may recall that at that time the economy was in a shambles, thanks to the overall mismanagement of the economy, fragility of the financial sector due to rampant looting of the banks and other financial institutions, unrestrained rise in bad loans in the banks with the connivance of the banking regulator (the BB) and the powers that be.
So, to restore some semblance of discipline in the financial sector and assure prospective investors from abroad that it was yet not all over with Bangladesh's economy the IMF loan was asked for. It is this legacy that the deposed government has left for the interim government to grapple with. As a result, it is not only the business community, the common people, who are the overwhelming majority are suffering. Food inflation rate in November was 13.80 per cent, while the inflation at 11.38 per cent in November is a record four-month high. The international lender said the inflation would remain around 11 per cent throughout the rest of the current fiscal year with the hope that it would come down to 5.0 per cent in FY 2026. The lender believes it would be due to tight monetary policy and easing of supply pressures. But still uncertainties would remain. Clearly, Bangladesh economy is in a fix. What is the way out? Return to the earlier state of free fall or continue the IMF-prescribed policy? True, there are critiques of IMF's loan conditionalities that put restrictions on the recipient country's fiscal and monetary policies leading to shrinking of public and private investments. Decline in private investment means rise in unemployment. But when a national currency's, or for that matter, economy's, worth is measured in US dollar as reserve currency, weak economies like Bangladesh face such a dilemma. Even so, the government could still negotiate with the IMF authorities on issues like if the exchange rate of USD against Taka should be left entirely to the market or the existing limits in line with the crawling peg system should continue. Also, the IMF-prescribed classification and labelling of the Non-Performing Loan (NPL) is also an issue. Notably, now a loan will be considered a default one, if the borrower fails to clear the debt within 90 days of its last date of repayment.
The government will be required to address these urgent issues through talks with the IMF so that some stringent conditions could be, where possible, relaxed for the sake of the businesses affected by the rules.
[🇧🇩] Save the Rivers/Forests/Hills-----Save the Environment
- By Saif
- Bangladesh Economy
- 249 Replies
Is drive against polythene bags missing the target?
Tapan Kumar Biswas, additional secretary and chairman of the polythene monitoring committee formed under the ministry of environment, forest and climate change came up with the performances accomplished so far since November 3. Following a drive against polythene in the kitchen market of Karwan Baz
Is drive against polythene bags missing the target?
Neil Ray
Published :
Dec 22, 2024 22:12
Updated :
Dec 22, 2024 22:12
Tapan Kumar Biswas, additional secretary and chairman of the polythene monitoring committee formed under the ministry of environment, forest and climate change came up with the performances accomplished so far since November 3. Following a drive against polythene in the kitchen market of Karwan Bazar, he disclosed 48 days' achievement. The chairman of the committee claims the credit of conducting 199 mobile court drives and realising fines amounting to Tk 2,572,300 from 414 shops and business establishments. Also, 50,556 kilograms of polythene bags were seized.
The operation of mobile court and seizure of big hauls of polythene shopping bags can hardly be any achievement. But surely the snapping of utility services to and sealing off four factories that produced such bags is a big achievement. Yet the question remains, are the drives producing the desired results? Not at all. Hardly a kitchen market in Dhaka can boast it is free of the polythene bags. Even the vendors selling fruits, vegetables or other commodities from their rickshaw vans use such bags as before. Where from do they get the supply? Old stocks were supposed to run out by this time.
Well, the step by step enforcement was logical but still it fell short of adequate preparation. Let's see why. A limited ban on use of polythene bags was first enforced from October 1 last and the countrywide ban was imposed from November 1 last. Actually, the original ban on use of polythene shopping bags in Bangladesh was imposed way back in 2001, the first country to have done so. At that time, there was greater success and it fell through because of a lack of subsequent follow-up. Therefore, the legal provision enacted to do so was still valid although it came to disuse. In that sense the latest prohibition ought to have been an invocation of the earlier law.
Whatever it may be, the important point is that doing away with this randomly used and thrown away non-biodegradable substance was long overdue. The month of November was set for monitoring market, not backed up by legal actions against vendors or retailers. This was logical because by this time, they were supposed to have disposed with their stocks. However, during this time the manufacturers and suppliers were targeted for action. From December 1 last, full enforcement of the prohibitive act took effect.
Evidently, the realities of 2001 and 2024 are way different. Not many factories producing polythene bags were there then but today their number is supposed to have multiplied. So, sealing just four of those off is proving to be a half-hearted exercise. The mobile court drives at the kitchen market is useless. It is clear that this cat-and-mouse game the bureaucrats have played all along is more a ploy or an eye wash than a serious move to eliminate the menace of this harmful substance. The need is to focus on the production units. If not a single such bag is produced anywhere, there is no question of its use by anyone.
Instead of sticking to this useless tactic, as proved by years of such drives, please launch purposeful drives against the producers of polythene shopping bags. Make it a point that not a single such factory will be in operation for production of those bags. These are not underground manufacturing plants, so each one of those can be identified for sealing those off.
Although this time the move cannot be likened with putting the cart before the horse, as is done in such cases, still it was not complemented with the supportive initiatives. The alternative to polythene bags are few and far between. Had there been mass production of even remotely comparable alternative shopping bags, the situation would have improved a lot. So, this is a prerequisite that must be addressed on a war-footing in order to complement the drive against poly-bag manufacturers.
Neil Ray
Published :
Dec 22, 2024 22:12
Updated :
Dec 22, 2024 22:12
Tapan Kumar Biswas, additional secretary and chairman of the polythene monitoring committee formed under the ministry of environment, forest and climate change came up with the performances accomplished so far since November 3. Following a drive against polythene in the kitchen market of Karwan Bazar, he disclosed 48 days' achievement. The chairman of the committee claims the credit of conducting 199 mobile court drives and realising fines amounting to Tk 2,572,300 from 414 shops and business establishments. Also, 50,556 kilograms of polythene bags were seized.
The operation of mobile court and seizure of big hauls of polythene shopping bags can hardly be any achievement. But surely the snapping of utility services to and sealing off four factories that produced such bags is a big achievement. Yet the question remains, are the drives producing the desired results? Not at all. Hardly a kitchen market in Dhaka can boast it is free of the polythene bags. Even the vendors selling fruits, vegetables or other commodities from their rickshaw vans use such bags as before. Where from do they get the supply? Old stocks were supposed to run out by this time.
Well, the step by step enforcement was logical but still it fell short of adequate preparation. Let's see why. A limited ban on use of polythene bags was first enforced from October 1 last and the countrywide ban was imposed from November 1 last. Actually, the original ban on use of polythene shopping bags in Bangladesh was imposed way back in 2001, the first country to have done so. At that time, there was greater success and it fell through because of a lack of subsequent follow-up. Therefore, the legal provision enacted to do so was still valid although it came to disuse. In that sense the latest prohibition ought to have been an invocation of the earlier law.
Whatever it may be, the important point is that doing away with this randomly used and thrown away non-biodegradable substance was long overdue. The month of November was set for monitoring market, not backed up by legal actions against vendors or retailers. This was logical because by this time, they were supposed to have disposed with their stocks. However, during this time the manufacturers and suppliers were targeted for action. From December 1 last, full enforcement of the prohibitive act took effect.
Evidently, the realities of 2001 and 2024 are way different. Not many factories producing polythene bags were there then but today their number is supposed to have multiplied. So, sealing just four of those off is proving to be a half-hearted exercise. The mobile court drives at the kitchen market is useless. It is clear that this cat-and-mouse game the bureaucrats have played all along is more a ploy or an eye wash than a serious move to eliminate the menace of this harmful substance. The need is to focus on the production units. If not a single such bag is produced anywhere, there is no question of its use by anyone.
Instead of sticking to this useless tactic, as proved by years of such drives, please launch purposeful drives against the producers of polythene shopping bags. Make it a point that not a single such factory will be in operation for production of those bags. These are not underground manufacturing plants, so each one of those can be identified for sealing those off.
Although this time the move cannot be likened with putting the cart before the horse, as is done in such cases, still it was not complemented with the supportive initiatives. The alternative to polythene bags are few and far between. Had there been mass production of even remotely comparable alternative shopping bags, the situation would have improved a lot. So, this is a prerequisite that must be addressed on a war-footing in order to complement the drive against poly-bag manufacturers.
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