Author: PV Desk
Bangladesh has significant potential for mobilising revenue collection, as highlighted by a recent official assessment on revenue buoyancy, a measure reflecting how tax revenues respond to economic growth. Revenue buoyancy, the responsiveness of revenues to gross domestic product (GDP), is a critical metric for gauging the performance of a revenue system and the forecast for revenue growth. A buoyancy coefficient greater than one indicates that tax revenues grow faster than GDP, while a coefficient less than one suggests slower growth. Using real GDP and real revenue growth rates from FY12 to FY23, the analysis found an average revenue buoyancy of…
Bangladesh loses approximately $13 billion every year to illicit financial outflows, creating significant challenges in recovering this vast amount, according to Dr Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB). He highlighted the issue while addressing a seminar titled ‘Odious Debt & Recovery of Bangladesh’s Laundered Wealth’, organised by the Economic Reporters’ Forum (ERF) and Sombabonar Bangladesh at the ERF Auditorium in Dhaka’s Paltan on Saturday. Dr Iftekharuzzaman emphasised the urgent need to hold financial criminals accountable, stating that “money launderers must face consequences, and anti-money laundering agencies should be made answerable to prevent future incidents.” He noted that while…
Chief Adviser Prof Muhammad Yunus has asked every player of the SAFF-winning Bangladesh women’s football team to write down their individual aspirations, struggles, and demands and share those with his office. “Do not hesitate to write whatever you wish. We will try to fulfil your demands. If anything can be addressed now, we will do it now,” Prof Yunus said. Members of the SAFF-winning Bangladesh women’s football team shared their dreams and the daily struggles they face with Dr Yunus when they met him at the State Guest House Jamuna in Dhaka on Saturday. The Chief Adviser carefully listened to…
BNP leader Dr. Shahadat Hossain, recently declared the mayor-elect of Chattogram City Corporation (CCC) through a court order, is set to be sworn in on Sunday (Nov 3). AF Hassan Ariff, Adviser to the Ministry of Local Government, Rural Development, and Cooperatives will administer the oath at 11:00 am in the Local Government Division’s conference room at the Secretariat in Dhaka. The ceremony is expected to be attended by senior government officials and key BNP leaders, with many party supporters from Chattogram. Maruful Haque Chowdhury, Shahadat’s personal secretary, confirmed the matter. He said following the ceremony, the new mayor will…
Adviser to the Ministry of Posts, Telecommunications and Information Technology and the Ministry of Information and Broadcasting, Md Nahid Islam, said on Friday that Bangladesh’s struggle is ongoing, and the nation is committed to standing tall in the global arena. “We will surely protect our motherland and establish it proudly on the world stage,” he remarked at a ceremony held at Osmani Memorial Auditorium in the capital. The event, marking National Youth Day 2024, was organized by the Ministry of Youth and Sports in association with the Department of Youth Development. Highlighting the pivotal role of Bangladesh’s youth in shaping…
A total of 500,000 jobs will be created in the government sector over the next two years, announced Asif Mahmud Sojib Bhuiyan, adviser to the Ministry of Youth and Sports and the Ministry of Labour and Employment, on Friday. He made this statement while speaking as the chief guest at an event held to celebrate National Youth Day 2024 at the Osmani Memorial Auditorium in Dhaka. In his keynote address, Asif highlighted that the youth represent the most vital segment of human resources, emphasising the importance of this demographic dividend for the country’s economy. He stated that the best time…
To bolster food security and ensure that rice remains accessible to the general population, the National Board of Revenue (NBR) has announced withdrawal of import duty and regulatory duty on rice. The announcement was made from the NBR’s headquarters. This initiative aims to increase the supply of rice in the market, thereby keeping prices within an affordable range for consumers. Previously, the import duty on rice was set at 15%, alongside a regulatory duty of 5%. With the new notification, these duties have been eliminated, leaving only an advance income tax of 2%. This strategic reduction is expected to lower…
The High Court has scrapped 11 cases including one for sedition and 10 for acts of sabotage against BNP Chairperson Khaleda Zia. A High Court bench comprising Justice AKM Asaduzzaman and Justice Syed Enayet Hossain passed the order on Thursday after the final hearing on 11 separate petitions filed by Khaleda. Advocate Zainul Abedin, Barrister MA Mahbub Uddin Khokon, Barrister Nasir Uddin Asim, Barrister Kaisar Kamal, Barrister Ragib Rauf Chowdhury and five others stood for Kahleda. Among the cases, one was filed on charge of sedition, seven were filed at Darus Salam police station and three at Jatrabari police station…
THE state of Michigan sits in the upper Midwestern portion of the United States. Once the hub of the American auto industry the state has since become part of what Americans call the Rust Belt. It is rusting because the American auto industry and the jobs that came with it have shifted elsewhere. Rust, perhaps a better word than rot, is a metaphor for the flailing job landscape and the general feeling of malaise that surrounds many of the state’s residents as they look at their future. Apart from all of this, two other facts about Michigan are important in…
PV Desk The interm government has appointed new deputy commissioners (DCs) in Joypurhat, Rajshahi, Rajbari, Sirajganj, Kushtia, Dinajpur, Shariatpur, and Natore districts. The Ministry of Public Administration issued a notification in this regard on Wednesday. Afroza Akhtar Chowdhury, deputy chief of the Planning Department, has been appointed as DC of Joypurhat’ Afia Akhtar, zonal settlement officer of Chattogram Land Record and Survey Directorate, made DC of Rajshahi; Mohammad Zahidul Islam Miah, deputy secretary attached to the Ministry of Shipping made DC of Rajbari, and Muhammad Nazrul Islam, additional director of the Government Housing Directorate, made DC of Sirajganj. Md Toufiqul…