DT e-Paper 27 February 2017

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DT 10 Business MONDAY, FEBRUARY 27, 2017 CAPITAL MARKET SNAPSHOT: SUNDAY DSE Broad Index 5,635.1 0.2% ▲ Index 1,312.1 0.2% ▲ 30 Index 2,037.3 0.1% ▲ Turnover in Mn Tk 13,931.9 4.5% ▲ Turnover in Mn Vol 375.0 10.2% ▲ CSE All Share Index 17,433.2 0.1% ▲ 30 Index 15,167.1 -0.3% ▼ Selected Index 10,574.9 0.1% ▲ Turnover in Mn Tk 909.3 8.4% ▲ Turnover in Mn Vol 28.5 23.6% ▲ RADP likely to be cut by 6% • Asif Showkat Kallol The revised annual development programme is likely to be slashed by 5.87% this fiscal year. Planning Ministry sources said as ministries and divisions failed to disburse Tk7,000 crore project aids under the ADP, the cut of the outlay is likely. Finance Division, however, is not interested to meet the deficit of project aid of Tk7,000 crore from the government exchequer. But the planning ministry asked for the money, Finance Division sources said. Finance ministry advised the ministries and divisions to increase the capacity of disbursement of foreign assistance funds from development partners. Actual size of the RADP outlay will be finalised after the next meeting of the Executive Committee on National Economic Council. The Ecnec meeting is supposed to be held tomorrow at the Planning Commission’s NEC auditorium. According to the initial estimate of the Planning Ministry, the RADP is estimated to be reduced to Tk1,04,200 crore from the original Tk1,10,700 crore for reduction of demand of project assistance. Of the proposed revised outlay, Tk7,12,000 crore will be provided from the government exchequer while the remaining outlay of Tk33,000 crore will come from project assistance. Although, the total outlay of the RADP incorporated the self-financed projects of autonomous bodies and corporations will be Tk1,12,752 crore. Regarding the approval of RADP, the exact figure will be finalised at the meeting of the National Economic Council which is expected to be held in March. According to the data of the Implementation, Monitoring and Evaluation Division, the pace of implementation of the ADP remained sluggish as usual, with the ministries and divisions managing to spend only 32.41% of the total allocation for the entire fiscal year in the first seven months. The 54 ADP execution agencies will have to spend the remaining 68% of the development budget in the next five months. The IMED data showed the implementation rates in July-January were 32%, 33%, and 38% in FY2014-15, FY2013-14 and FY2012- 13 respectively. • Call to use modern know-how to meet demand for animal protein • Tribune Business Desk RADP is estimated to be reduced to Tk1,04,200 crore Poultry become a major source of protein in Bangladesh MEHEDI HASAN An effective use of science and modern technology can help Bangladesh’s poultry industry to meet the future demand for eggs and animal protein, sector people say. World’s Poultry Science Association-Bangladesh Branch (WPSA-BB) president Shamsul Arefin Khaled came up with the remarks at press conference ahead of the 10th International Poultry Show to be held on Thursday at International Convention City Bashundhara in Dhaka. The Bangladesh chapter of World’s Poultry Science Association will host the three-day mega event. “People of our country consume less protein than required. In Bangladesh, the lion’s share of protein is coming from the cereal while it should come from animal protein sources, said Shamsul Arefin Khaled. “We are far behind from the developed nations in terms of animal protein intake. To recover the deficit, we need poultry promotion and have to make it cheaper. It is only possible if we can cut the production costs by ensuring effective use of science and modern technology in the industry,” said Khaled. He said the price of chicken and eggs is much cheaper compared to beef, mutton and fish. “If we fail to adopt modern technology, the price of egg and chicken would go higher. Local entrepreneurs are working to make eggs and chicken affordable to all.” “Poultry is playing a vital role in cutting hunger and poverty in the country. The contribution will be increased in future as it is the only industry in livestock sector which can grow,” said Zahedul Islam, vice-president of WPSA-BB. The poultry industry has created direct jobs for 20-25 lakh people. By 2030, more than one crore people will be dependent on this sector, he added. The sector is also helping the women become self-reliant. By 2021, the investment to this sector will cross Tk55,000 crore mark. Within a short period, this sector will enter the export market. According to Nazrul Islam, treasurer of WPSA-BB, organic fertiliser, biogas and electricity are also being produced from poultry waste following recycling method. The three-day event will remain open from 9:30am to 8:00pm every day which will end on March 4. Some 195 local and foreign companies will take part in the show with their products and technologies. There will be 490 stalls at the fair. Representatives from 20 different countries will attend the show. Some 104 technical papers will be presented by local and international poultry experts. To attract the visitors, drawing competitions for the children on March 3, and a day-long quiz completion from March 2 to 3 will be held. •
Business 11 DT MONDAY, FEBRUARY 27, 2017 Compliance issue distances RMG retailers from govt • Nure Alam Durjoy Commerce Ministry and foreign buyers run counter to issues relating to ready-made garment industry, speakers said at a function. They said while foreign buyers stressed that the apparel industries need to be more compliant, the ministry raises the issue of level playing field in terms of compliance for RMG factories across the world. A host of speakers from different backgrounds came up with the views at a session on “Bangladesh Apparel Industry: Transformation and Road Ahead” held on the sidelines of Dhaka Apparel Summit on Saturday. In his speech, Johan Frisell, Swedish ambassador to Bangladesh, pointed out security issues in RMG sector. He emphasised the importance of holding dialogue among stakeholders and freedom of association among workers in the sector. According to Jochen Weikert, head of promotion of German Development Cooperation, the apparel industry needs home grown solution to ensure its sustainability. “Lets the market decide the price in this age of free market,” said Tim Worstall, senior fellow at Adam Smith Institute of London. Mahmud Hasan Khan, BGMEA vice-president said: “We do not want anymore Rana Plaza incident. It was a nightmare for us. We took lesson from it and have to prevent further incidents and make sure safety.” The Bangladesh High Commissioner to Sri Lanka, Riaz Hamidullah, focused on the responsibility and mutual understanding among the stakeholders while Pierre Mayaudon, ambassador and head of delegation of EU, stressed the compliance of apparel industry which is prerequisite to ensure sustainability. While talking about the future of apparel industry in the country, Commerce Secretary Hedayetullah Al Mamoon said achieving 50 billion dollars by 2021 is not a big deal. “The process we are in now is enough and we do not need extra effort.” “We are facing new parameters of compliance from the buyers every day and transforming every day accordingly,” said Mamoon. However, what is required is just a level playing field for all countries that manufacture garments, or else the export target set might be unachievable, he opined. Newage Group vice-chairman Asif Ibrahim moderated the session while ILO Country Director to Bangladesh Srinivas B Reddy, among others, spoke. • DSE ends on upbeat in seesaw trade • Tribune Business Desk DSEX, key index of Dhaka Stock Exchange (DSE), yesterday saw a seesaw ride and ended in the positive territory to sustain its level at 5,635 points. From the beginning of the trading session, index moved around 5,635 level while moving upward during the mid-session reaching ultimately 5,655 points. The sudden upward movement was, however, immediately consolidated by sharp downward movement, with index closing at 5,635 points level. DSEX, the benchmark index, gained by 10 points to end at 5,635 points while DS30, the blue chip index, ended flat in the green at 2,037 points. While the DSE Shariah-based index gained by 3 points, ending at 1,312 points. Among the traded issues, 126 advanced, 160 declined and 42 remained unchanged. The day’s turnover stood at Tk1,393 crore, which was 4.5% higher than the previous session’s value of Tk1,333 crore. Banks, IT Sector, and Life Insurance were the top gainers while Fuel and Power, Miscellaneous and Ceramic sectors were the top losers. During the trading hours, large cap sectors showed mixed performance. Among the major sectors, Bank and Food and Allied were in the positive territory by posting 1.81% and 0.28% rise respectively. Fuel down by 1.42% was the highest loser followed by Engineering 0.84%, NBFIs 0.75% and Telecommunications 0.68% while Pharmaceuticals ended flat. • Singer revenue grows 30% • Tribune Business Desk Singer Bangladesh achieved record high revenue growth of 30 .3% and 40.7% in gross profit in 2016 compared to a year ago. The company made profit of Tk54.63 crore after paying all taxes, with an increase of 48.2% from the previous year. In addition, it made a gain on revaluation of property, plant and equipment amounting to Tk17.19 crore, according to an announcement issued by the company yesterday. The company also announced 70% cash dividend maintaining its long history of robust dividend payments. • Huawei GR5 at Pickaboo.com • Tribune Business Desk The premium edition of Huawei GR5 cellphone device will be available at the e-commerce site – Pickaboo.com – from today. The exclusive online partner of Huawei GR5 2017 started taking pre-booking for the handset from February 22 and will start dispatching for delivery from today. The handset is equipped with 64GB ROM, along with a 5.5 inch full high definition display, lightning fast processor and 4GB RAM for speed and a smooth user experience and a long-lasting battery. •
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Page 5 and 6: HC questions legality of article 95
Page 7 and 8: Khaleda fails to say anything new
Page 9: World Wary of Trump unpredictabilit
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