World Bank to provide support for upcoming budget



special Correspondent, Barta24.com
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Dhaka,(Barta24.com): After long eleven years gap the world’s biggest lender World Bank(WB)is providing financial support to the tune of Taka 1250 crore in the upcoming national budget of the country. On Wednesday(April24)a meeting of the coordination council of financial and currency exchange rate related will be held in the Finance Ministry. The final announcement will be made there after the meeting.

It is learnt the implementation of the budget remains unfulfilled due to deficit in the budget every year. The difference between income and expenditure of the government is increasing regularly. It has created an uneasiness among the budget related people. In this uneasy situation the World Bank(WB) has made the announcement to give the loan of Taka 1250 crore in the budget which will be used in creating employment opportunities.

It is also learnt that in the above mentioned meeting the outlines of the next budget will be finalized. The size of the budget might be Taka 4 lakh 64 thousand 570 crore while the income against this huge expenditure has been estimated at Taka 3 lakh 39 thousand 280 crore which is 13.4% of the GDP.

However the NBR is far lagging behind of income. In the first eight months of the current fiscal NBR has earned revenue of Taka one lakh 33 thousand 460 crore.

On the other hand the total of national growth and inflation is negative of NBR’s actual growth which might create serious impact on the budget. This will increase the deficit alarmingly. Though the growth in export is 13 percent and manpower export is 12.57 percent will give slight respite.

The Finance Ministry said that NBR is likely to submit a report regarding revenue income on whose basis the problem might be solved. At the end of the current fiscal year if the revenue income does not improve the deficit will increase. So in today’s meeting the revenue situation will get importance.

According to the information received from Bangladesh Bank that balance of payment of the first nine months of 20181-19 fiscal is negative amounting to 0.50 billion US dollars which was 0.98 billion USD in 2017-18 fiscal. After such negative situation Finance Minister AHM Mostofa Kamal will disclose some good news, it is expected. The good news is that the biggest lender World Bank will provide budget support to the tune of 250 million USD equivalent to Taka 1250 crore. In three years the WB will give 750 USD. However the lending agency has given some conditions as creating employment opportunities, the advancement of Customs Act, to introduce one stop service in the Investment Board, reforms in the bond acceptance by the business men, reforms in the pension system and amendment of the Labor Law.

According to observers this support of the WB will also create positive impact in the reserve along with budget implementation. The loan is being given with the interest rate of 2 percent. The loan has to be repaid within 30 years including a grace period of 5 years.

   

Unemployment in the country has increased by 1 lakh 20 thousand



Staff Correspondent, Barta24.com, Dhaka
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Compared to the last 3 months of last year, the number of unemployed in the country has increased by 1 lakh 20 thousand in the first 3 months of this year.

On Monday (May 6), Bangladesh Bureau of Statistics (BBS) quarterly labor force survey report revealed these data.

According to BBS data, the number of unemployed in the country in the first quarter (3 months) of this year is 25 lakh 90 thousand. And in the last quarter of last year this number was 24 lakh 70 thousand.

The current unemployment rate is 3.51 percent, which is slightly higher than the average unemployment rate in 2023. The average unemployment rate in 2023 was 3.36 percent.

Meanwhile, according to BBS calculations, the number of unemployed men was 17 lakh 40 thousand at the end of last March. In the first quarter of 2023 (March-January) this number was 17 lakh 10 thousand. On the other hand, 30 thousand women unemployment has decreased compared to the same period last year. Now the number of unemployed women is 8 lakh 50 thousand.

According to BBS, there are 7 crore 37 lakh 50 thousand men and women in the labor force. Among them 7 crore 11 lakh 60 thousand people are engaged in work. The rest are unemployed. 

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Bangladesh has become an experiment ground: Rizwana Hasan



Staff Correspondent, Barta24.com, Dhaka
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Bangladesh Environmental Lawyers Association (BELA) chief executive and Supreme Court lawyer Syeda Rizwana Hasan commented that Bangladesh has become an experiment ground for multinational companies.

Stating that the multinational companies are working to take agriculture away from us and from the farmers, she said, the multinational companies sought approval of genetically modified brinjal in 3 countries. The countries are - India, Philippines and Bangladesh. India did not approve but Bangladesh did. Now multinational companies are seeking permission from Golden Rice. Nature is being oppressed by political economic considerations.

She said these things at a discussion meeting on the urgent issue of GM crops, golden rice and Bt brinjal: Resolving the necessary issues in Bangladesh introduction at Tafazzal Hossain Manik Mia Hall of the National Press Club on Monday (May 6).

Farida Akhtar, executive director of the non-governmental organization UBINIG (Policy Research on Development Options), said that the health and environmental risks of golden rice as a GM crop, its effectiveness and whether there is any need for this rice at all have not yet been answered. We thank the Ministry of Environment for taking time to consider its safety aspects and not yet giving approval. But companies and entrepreneurs are chasing it. They want to influence the government directly.

She also said that golden rice is controversial all over the world. It was said to have been approved in the Philippines but has now been revoked and Filipino farmers have launched a massive movement against it. So there is no point in giving approval to Bangladesh by taking the example of Philippines. Most of the farmers in Bangladesh cultivate BRI 29. There are no patents. The farmer keeps the seeds himself or buys them from the market. They can cultivate this paddy independently. So what will happen to the fate of millions of farmers in Bangladesh if the ownership of this rice goes to a foreign company? The Ministry of Agriculture must answer this question. The Ministry of Agriculture's job is to look after the interests of Bangladesh's agriculture and farmers, not the interests of companies.

Speakers raised various questions to the government in the interest of the people before introducing controversial GM crops in Bangladesh.

>> Is there any need at all to introduce golden rice paddy and Bt. brinjal in agricultural diversification countries?

>> Whether Bangladesh Rice Research Institute (BRRI) and Bangladesh Agricultural Research Institute (BARI) have any data on the potential environmental, health and other risks of GM crops, scientists worldwide have agreed.

>> Why is the production of vitamin A rich vegetables, fruits, greens, etc. not being supported in the country instead of introducing golden rice on the pretext of vitamin A deficiency?

If the patent of BRRI 29 is given to the Syngenta company, will not the right of billions of farmers of the country to cultivate this variety of rice be undermined? Why is this rice given to multinational companies?

But brinjal is being introduced on the pretext of reducing pesticide use, while pesticides and herbicides are widely used in all types of hybrid crops, from rice? Why are they not being stopped?

Federation President Badrul Alam, Chief Executive of Citizen Initiatives Zakir Hossain and Executive Director of Anti-GM Morcha Ibnul Sayed Rana also spoke at the discussion meeting.

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The Sundarbans fire will remain under observation for a few more days: Cabinet Secretary



Staff Correspondent, Barta24.com, Dhaka
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Cabinet Secretary Mahbub Hossain said that the fire in the Sundarbans has not been completely extinguished, but it is under control. The Sundarbans will be kept under close observation for a few more days.

Home Minister Asaduzzaman Khan informed the Prime Minister about the Sundarban fire in the cabinet meeting on Monday (May 6). The Cabinet meeting was held at the Prime Minister's office under the chairmanship of Prime Minister Sheikh Hasina.

Mahbub Hossain, Cabinet Secretary told the Journalists at the Secretariat that Prime Minister Sheikh Hasina wanted to know the latest status of the fire that broke out in the Sundarbans. Home Minister Asaduzzaman Khan informed about this.

In response to a question from journalists, the Cabinet Secretary said that the fire that remains dormant in any leaf will rekindle. So close monitoring will be done for the next 7 days. Then the decision will be made in the light of the situation. He also said that the Ministry of Home Affairs, Fire Service is working round the clock.

He also said that Prime Minister Sheikh Hasina has expressed satisfaction with the role of the Home Ministry and Fire Service in bringing the Sundarban fire under control.

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The traffic sergeant removed the tree alone that fell in the storm



Staff Correspondent, Barta24.com
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There was norwester along with hail storms across the capital. The rain was accompanied by heavy winds.

A tree fell down on the way from Kakrail Mosque to Matsya Bhavan during heavy rain.

Traffic Sergeant Zafar Imam, who is in charge of this road, removed the broken trees and branches alone.

This incident happened on Sunday (May 5) around 11:30 pm.

Traffic almost came to a standstill during the storm due to the falling tree of the Directorate of Public Health Engineers. At this time, traffic jams were created in the surrounding area.

Later, Traffic Police Sergeant Zafar Imam came from Matsya Bhavan to the spot and cleared the branches and normalized the traffic.

When asked about this, Traffic Police Sergeant Zafar Imam said, "People were trying to reach their destinations like crazy in the rain and storm." In the meantime, there was a traffic jam on the road. After going to the spot; I saw a tree lying down. I tried to remove the branches and the tree alone in the rain storm.'

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