Daily News Flash

DSEX 5,394.90 2.05% Gold (Ounce) $1284.70 CSCX 9,988.40 2.09% Oil (Barrel) $69.24 Daily News Flash 6th May 2019 Sell Sell Dollar 84.40 85.40 GBP 108.55 112.55 Sell Sell Euro 93.10 97.10 Rupee 1.20 1.26 Table of Contents Macro Economy ............................................................................................................ 1 NON-RMG EXPORTERS TO GET BOND FACILITY ........................................................................................................ 1 LOWER PVT CREDIT FLOW MAY SLOW ECONOMIC GROWTH ............................................................................. 2 OVER-CAPACITY IN POWER SECTOR?............................................................................................................................. 2 FOOTWEAR MAKERS MUST ENSURE FULL COMPLIANCE ...................................................................................... 4 BB REVISES INTEREST RATE POLICY ON SHORT TERM FOREIGN CURRENCY LOANS................................ 5 RMG HOURLY PRODUCTIVITY STILL LOWER IN BD ................................................................................................. 6 BB SEEKS FRESH FINANCING FROM WB AS LONG-TERM FUNDING DRYING UP ............................................ 7 UK GR PLANS TO INVEST $300M IN INFRASTRUCTURE OVER 3 YEARS .............................................................. 7 INADEQUATE BONDED WAREHOUSE BENEFITS COST $8B IN EXPORTS: IFC ................................................. 10 GO CASHLESS TO TIDE THROUGH EID EXPENSES .................................................................................................... 11 A CASHLESS SOCIETY A DISTANT DREAM ................................................................................................................... 12 APP-BASED WALLET BOOSTS TRANSACTION ............................................................................................................. 13 WISER IS WINNER .................................................................................................................................................................. 14 ADB BETTING BIG ON BANGLADESH.............................................................................................................................. 16 THREE DRUG MAKERS BECOME NBR’S TRUSTED TRADERS ................................................................................ 17 DECENTRALISATION URGED FOR THE DEVELOPMENT OF REAL ESTATE INDUSTRY .............................. 17 BUILD SATELLITE TOWNS UNDER PUBLIC-PRIVATE PARTNERSHIP ................................................................ 18 GOVT PLANS TO IMPORT MORE LNG TO MEET GAS DEMAND ............................................................................ 18 LOST NON-RMG EXPORTS IN 5YRS STAND AT $8.4B: PRI ........................................................................................ 20 TANNERY WORKERS UNDERGO POOR HOUSING, HEALTHCARE FACILITIES .............................................. 20 INTEREST RATE FOR TRADE FINANCING IN FOREX REVISED ............................................................................. 21 REALTORS ASK GOVT TO ACT LIKE FACILITATOR, NOT COMPETITOR ......................................................... 22 আয়কর দেন ১%-এর কম মানুষ ...................................................................................................................................................... 23 দেশে দকা綿পতি বাড়শে, বাড়শে আয়ববষম্যও: পতরকল্পনামন্ত্রী ........................................................................................................... 24 ববতিক বাজারতিতিক হশ া বায়ার্স দেতিশের র্ুে ............................................................................................................................. 25 ১০ মাশর্ ১৩ ে দকা綿 ি ার োতড়শয়শে দরতমেযান্স ............................................................................................................................ 25 তজতিতপশি তেল্পখাশির অবোন ৩০ েিা廬ে করার ক্ষ্যমাত্রা ............................................................................................................. 26 নকো জ綿 িায় পদ্মা দর্িু দর র্廬শ াগ: কাশজ ধীরগতি, দেরি াশে ২ হাজার দকা綿 োকা .......................................................... 26 চামড়া খাশির রেিাতন আয় কমশেই ............................................................................................................................................... 27 কা女চামা আমোতনশি িযাে অব্যাহতি দপ এতপআই তেল্প ................................................................................................................. 28 Bank and NBFIs ........................................................................................................... 28 োকা জমাশনার এখনই র্ময় ............................................................................................................................................................. 28 েীষস ২০ দখ াতপর িাত কা দচশয়শে দকন্দ্রীয় ব্যা廬ক ........................................................................................................................... 29 Capital Market Specific................................................................................................ 29 DSEX LOGS BIGGEST SINGLE-DAY GAIN IN 13 MONTHS ........................................................................................ 29 DSE TURNOVER CROSSES TK 5.0 BILLION-MARK ..................................................................................................... 30 ATC SHARIAH UNIT FUND DECLARES 12% CASH DIVIDEND ................................................................................. 31 BEXIMCO PHARMA LAUNCHES GENSULIN, GENSUPEN2 ........................................................................................ 32 তবতজএেতর্এশ র মুনাো ১৮৫ দকা綿 োকা ....................................................................................................................................... 33 তিএর্ইএশের ১ বেশরর মশে র্দবসাচ্চ বৃতি ........................................................................................................................................ 33 নারীর ক্ষ্মিায়শন কাজ করশব দজতর্আই ও তর্綿 ব্যা廬ক ..................................................................................................................... 33 এক র্প্তাশহ দ নশেন দবশড়শে ১২% ................................................................................................................................................. 34 অযাকাউতট廬 স্ট্যান্ডাশিসর ঙ্ঘন: ৭ বের ধশর আয় দবতে দেখাশে পাওয়ার তিি ................................................................................. 34 Daily News Flash Monday, May 06, 2019 Macro Economy NON-RMG EXPORTERS TO GET BOND FACILITY The National Board of Revenue (NBR) has started a thorough review of the existing bonded warehouse facility as part of its move to extend the same to non-apparel exports, its chief said Sunday. Readymade garment (RMG) makes up around 85 per cent of the country's exports, thanks to the policy support of the government, chairman Md Mosharraf Hossain Bhuiyan said. "Now time has come we diversified export-basket and expand the duty-free facility to other export- oriented sectors," he said. The NBR chairman's comments came at an orientation programme arranged for the members of the Economic Reporters Forum (ERF). The programme titled 'Tariff modernisation and expansion of bonded warehouse facilitates to non- RMG' exporters,' was organised by the ERF in collaboration with Bangladesh Investment Climate Fund II (BICF) of the International Finance Corporation (IFC). The NBR chairman inaugurated the programme at the ERF office. Policy Research Institute (PRI) chairman, Dr Zaidi Sattar, World Bank Group's private sector specialist, Nusrat Nahid Babi, and joint commissioner of Customs Bond Commissionarate, Mashiur Rahman, spoke at the programme. The NBR boss said leather and jute exporters are on the priority list of the potential recipients of bonded warehouse facility. He urged reporters to unmask the identities of abusers of the duty-free benefit under bonded warehouse facility. He said local industries are bearing the brunt as duty-free products are sneaking into the market due to the abuse of the facility by vested quarters. Responding to a question, he said punitive measures have been taken against some 30 companies in Dhaka and 29 companies in Chattogram for the abuse of the bonded warehouse facility. "The bond licences of the companies that failed to show exports using the relevant duty-free items might be cancelled," he said. Dr Sattar said high protective duty is working as disincentive to export as industries focusing more on domestic-market than on overseas sales. "Economic growth is not possible on the basis of only domestic market expansion. Employment would not be generated if export market is not expanded," he added. Domestic market accounts for just 0.5 per cent, or $300 billion, of the $75 trillion international market, he added He said high protective tariff, averaging 26.6 per cent, is also responsible for hike in prices of consumer goods. Many of the consumer goods in Bangladesh are pricier than that of other countries, he added. "RMG sector fetches $32 billion of the total export earnings of $37 billion. Export diversification is not satisfactory due to unfriendly tariff regime," he said. Tariff escalation ratio is the highest in Bangladesh, at 3.5 per cent, compared to other countries, he said. Ms Babi presented a paper on 'Levelling the playing field for export diversification: bonded warehouse reforms for easier access

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