• Thursday, September 18, 2014

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Finance Minister AMA Muhith

Barkat hits out at Muhith

Abul Barkat, the immediate past chairman of Janata Bank, yesterday pilloried Finance Minister AMA Muhith, calling him an intellectual fraud, vindictive and power abuser. “He [Muhith] is always humiliating people. He does not know how to show respect -- that's why he is always using dismissive words like 'rubbish',” Barkat said at the unveiling of the book, Janata Bank's Five Years in Corporate Social Responsibility, at the National Press Club in Dhaka. He went on to term the finance minister an...

New VAT law under fire from business leaders

Businessmen yesterday came down hard on the government for ignoring their recommendations and concerns when drafting in the VAT and Supplementary Duty Law 2012. In the face of protest, Finance Minister AMA Muhith announced that a committee with a representative from private sector as co-chairman will be formed to make a report on the law. Based on the report, the government will take steps, he said. “It is surprising that even after so much consultation and discussions the law is not...

Muhith hits back at Barakat

Finance Minister AMA Muhith yesterday hit back at Prof Abul Barakat over the latter's recent remark on the finance ministry's move to suspend the Corporate Social Responsibility (CSR) activities of four state-run banks. Barakat, at a programme on his last day at office as the chairman of Janata Bank (JB) on Monday, alleged that the CSR activities were halted as he had not entertained a request of the minister to finance a boat race in Sunamganj. “His [Barakat's] term has expired...

Move to speed up reforms in civil services

The government will set up a commission to expedite reform of the civil services and public institutions as a mid-term review of the sixth five-year plan found little progress on the issues crucial in establishing governance. The Planning Commission outlines a strategy to boost public services every five years. The ongoing programme was set in July 2011, to expire in June next year. "We [the authorities] are setting up a new body to look into the terms and entitlements of various...

Grameen Bank Board

Govt to change rule to elect it

The government will again amend Grameen Bank rules for electing nine women directors of the micro-lender as the central bank has declined to hold polls for picking new board members. "Bangladesh Bank has said that holding the elections will lead to a conflict of interest as they [the BB] are a regulatory body," Finance Minister AMA Muhith told reporters at the secretariat yesterday. "We will find ways to do it. There are a number of banks under the control of the...

BASIC chairman bows out

BASIC chairman bows out

With the clamour for his dismissal growing louder, Sheikh Abdul Hye Bacchu, the main accused behind BASIC Bank's current financial straits, has stepped down from the post of chairman. The resignation, handed to Finance Minister AMA Muhith on Friday night, comes just two months before the expiry of his second term as chairman of the troubled bank. By resigning from the post, Bacchu has not gotten away with his misdeeds, the minister told reporters at his office yesterday. “Resignation does not give a solution -- the prosecution will go on.” Muhith said the Anti-Corruption Commission (ACC) had already started investigation into the issue, and those found liable would be brought to trial,...

Money Whitening Scope

Muhith trashes media reports

Muhith trashes media reports

Finance Minister AMA Muhith yesterday said media reports on continuation of the scope for whitening black money through investment in real estate were “utter nonsense”. "Yes, and I have stuck to my guns. It is rubbish that you have printed … totally rubbish … I have not given anything," said a peeved Muhith in...

Muhith blasts media for report on money whitening

Muhith blasts media for report on money whitening

In a fresh twist of statement, the finance minister today insisted that the government did not offer any scope to legalise black money in the new fiscal year. AMA Muhith also lambasted the media for reports that the government has allowed unquestioned legalisation of black money in real estate. "The real estate sector will get...

Editorial

Whitening black money

FINANCE Minister AMA Muhith has backtracked on his post-budget press conference announcement to the effect that thenceforth the provision for legalizing black money stood cancelled. Just three weeks on, during the passage of the finance bill, the finance minister treated us with a retraction. He has declared that undisclosed or unearned incomes would be allowed to be legalized and that two options will be available for this purpose: Investments in real  estate by paying tax, and legalization of unearned...

Square to launch baby diapers

Square Toiletries, a concern of local conglomerate Square Group, is set to launch baby diapers to cater to the growing demand, an official said yesterday. Malik M Sayeed, head of marketing of Square Toiletries, said the company plans to manufacture baby diapers considering market prospects and to diversify its product basket for baby care. "We are introducing diapers to help parents take better care of their babies. We hope to launch our product by September," Sayeed said. The company plans to launch...

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