It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.
Why this behind-the-curve approach to fighting inflation?
With the facade of the elections at its height, prevailing financial issues seem to have faded into the background.
Under the Income Tax Act, 2023, the 'gain' tax on plots, flats and commercial establishments has doubled and redoubled.
The actual share of NPLs in total loans would have crossed 20 percent had BB not loosened the definition.
Recent trends seem to care too little about the wise art of deficit financing.
While the government’s latest monetary policy for the first half of fiscal year 2023-24 shows an attempt to be rational for the market, it lacks vigour to solve inflation and the dollar crisis.
If we choose only 10 commodities and measure inflation, the figure will land at no less than 20 percent.
The recent quota movement, which was somehow quelled defying the logic of merit-based competition and fundamentals of a market economy, portrays a pathetic lack of skills among the youth of our nation.
Once the Huang He river was known as the river of sorrow in China and the river's deadly floods were seen as acts of God. But the Chinese regime changed this narrative through its long-term planning and by transforming the threats into irrigation opportunities.
When I approached a car insurance company to discuss ways to reduce my insurance cost, the manager advised me to take a study course on defensive driving,
Had Shakespeare been alive and the opportunity to visit Bangladesh, he would have withdrawn his poem, “Crabbed Age and Youth.” Instead, seeing Bangladesh's politicians, he would have written a new poem, “Shining Age and Subdued Youth.” Rabindranath too would disown his poem, “Expedition of the Youth (Taruner Abhijan).”
While the prime minister's statement on quota abolition in public services has prevented a volcano from erupting, many are shedding crocodile tears to keep the unfair quota system with some temporary treatments; and so the call for reform continues.
Matern-al uncle, or mama, is an affectionate character in the lives of Bengalis. A typical mama is expected to indulge every whim of his nephews and nieces.
There aren't many moments in my life as an ordinary writer where my writings on banning the quota system have gone in vain. I had come to my workplace in the morning and finished the piece in three hours.
When I was a village boy, I learned from one of my grandparents that if I ever see a black cat, I shouldn't leave home to begin a journey for an auspicious cause. Later I realised that black cats are commonly visible in all villages and they come out of their dens particularly in the morning when most journeys are begun.
Shouldn't people derive delight from travelling? Then why is it such a nightmare for people who use public transport in Bangladesh? My short story of a journey by bus from Dhaka to Nalitabari may give readers a glimpse of why.
As a Bengali saying goes, “Don't dig a canal to let the crocodile enter.” Never has this been more fitting than now for Bangladesh Bank (BB) that is voluntarily inviting the interference of the Ministry of Finance (MoF) into all banking affairs, severely damaging the image of a fairly independent central bank.