• Thursday, January 29, 2015

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Finance Minister AMA Muhith

Stop terrorists from shipping goods, Muhith asks customs

Finance Minister AMA Muhith yesterday asked customs officials to work in a coordinated manner with other stakeholders so that terrorists are unable to ship goods through border control points. “Terrorism has become a major issue now -- we have to control borders in a coordinated way so that terrorists cannot enter with contraband goods,” Muhith said. Muhith's comments came at a programme organised by the National Board of Revenue to mark World Customs Day, which is observed in 179 countries. Various programmes...

Tk 1, Tk 2 notes to be phased out; coins to stay on

The government is set to take out Tk 1 and Tk 2 notes from circulation, Bangladesh Bank Executive Director M Mahfuzur Rahman said. The coins with the same denominations will still be in circulation, he added. Rahman's comments came as Finance Minister AMA Muhith said earlier in the day that Tk 5 would be the lowest denomination of notes instead of the existing Tk 2 given the latter's fall in value. Lower denomination notes are “useless”, Muhith said. At present, Tk 5 notes...

One, two taka coins, notes to go off market: Muhith

One, two taka coins, notes to go off market: Muhith

The government has decided to withdraw all notes and coins lesser than Tk 5 from the market. Coins and notes of both one and two taka will be taken off, Finance Minister AMA Muhith said at the Bangladesh Secretariat. Speaking to journalists, the minister said once the notes and coins reach the banks those will...

Over 100pc salary hike proposed for armed forces

Over 100pc salary hike proposed for armed forces

A committee concerned today proposed more than 100 percent salary hike for the members of the armed forces in its recommendations handed to the government. The eight-member committee, Armed Forces Pay Committee, led by its chairman, Lt Gen Anwar Hossain, filed its report to Finance Minister AMA Muhith this morning with recommendation for Bangladesh...

Money launderers to be revealed: Muhith

The National Board of Revenue is set to prepare a list of individuals who have been laundering money abroad, Finance Minister AMA Muhith said yesterday. He, however, refused to give further details. “It's a sensitive issue -- such activities are done in confidence. As a result, nothing further may be given about this,” Muhith told reporters when asked if the government would take similar steps against money launderers as India did. The new Indian government led by Narendra Modi on Monday published...

India gives fourth instalment of $200m

India yesterday handed over a cheque of $25 million to Finance Minister AMA Muhith as the fourth instalment of the $200 million grant approved in 2012 by the Congress government. This is the first instalment of the grant after Prime Minister Narendra Modi's government assumed power in India this year. Indian High Commissioner Pankaj Saran handed over the cheque at Muhith's official residence in Minto Road. With this tranche, India has completed disbursement of $175 million assistance to Bangladesh. India approved...

Editorial

Underperforming SoBs

A day after the Finance Minister frankly admitted to the directors' failures in the state owned banks contributing to below par performance of these institutions, the central bank governor has come down hard on the manner in which these banks are being run. This of course is not news. The media has covered the issue extensively ever since the ill-fated loan sanctioning by one such bank in the Hall-Mark debacle. Volumes have been written on the subject; countless seminars...

New pay scale effective from next fiscal yr

The new pay scale for the government employees is likely to be implemented from July 1 next year, Finance Minister AMA Muhith said yesterday. “The government employees, for sure, will get their salaries under the new pay scale from the next fiscal year…. However, if its implementation is delayed, it will be effective retrospectively from July 1,” he told reporters after a meeting with the visiting IMF mission at his secretariat office. The Pay and Service Commission, said the minister, will...

KEPZ 'failed to use land'

Finance Minister AMA Muhith yesterday said the government would take back part of the land it had given to YoungOne Corporation for industrial development. The Korea-based company was allocated about 2,500 acres 17 years ago to set up Korean Export Processing Zone (KEPZ) but it couldn't use even 500 acres, the minister said. “This is wasteful.” These remarks came as Muhith was talking to journalists at his secretariat office and his attention was drawn to The Daily Star reports on government...

Banning Jamaat to invite bigger trouble: Muhith

The Jamaat-e-Islami will go underground if the government bans it, Finance Minister AMA Muhith said yesterday. “The party [Jamaat] can be banned by enacting law. But it will create a big problem. They will go underground and indulge in killings and other misdeeds. They are good at it,” Muhith told journalists at his secretariat office in the capital. “The Jamaat is a bloody party … I hate it,” he said. Asked about rumours that the government had an understanding with the Jamaat...

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