Another 300MW on way from India

The cross-border power trading arm of India’s state-owned National Thermal Power Corporation has won a contract for supplying 300 megawatts to Bangladesh for fifteen years. The power supply is expected to start from June this year, said a statement from the NTPC, the country’ largest power generation firm. As per rough calculations, the estimated tariff of the power to be supplied to Bangladesh is pegged at Rs 3.42 per unit. The deal will help the NTPC earn Rs 900 crore every year, the statement said.

NTPC Vidyut Vyapar Nigam Ltd (NVVN) will supply the power to the Bangladesh Power Development Board in both short-term and long-term categories, it said. At present, India supplies 660MW to Bangladesh through two separate cross-border grids — one in West Bengal and another in Tripura — under government-to-government deals. NTPC is already a partner in the controversial 1,320MW thermal power plant in Rampal.

Soon after, BSEC referred to as the DSE’s Chairman Abul Hashem and Managing Director KAM Majedur Rahman and asked them to further scrutinise both the proposals — a pass that was seen with the aid of many as the inventory market regulator doing the bidding for the Indian party.

“The Chinese consortium supplied a a lot higher fee than the Indian birthday party but the former has no demutualisation experience. At the same time, NSE will not be allowed to buy DSE’s shares at a decrease price,” Hossain said. A consortium of Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) proposed to buy forty five crore shares of the DSE for Tk 22 each as the strategic accomplice of the premier bourse.

It also supplied technical assist really worth $37 million (about Tk 300 crore). In exchange, it sought for a seat at the DSE board and assured that it will now not ask for any return on its investment for 10 years.

In contrast, a consortium led with the aid of NSE presented to purchase the identical number of shares but for Tk 15 each. It additionally provided technical support but it did now not supply a economic value. In exchange, it wanted two seats at the DSE board.

Though there has been no political strain but to pick out one offer over the other, the authorities will be consulted earlier than making the ultimate call, he said.

“We can take any inner selection by myself however when the count is about exterior settlement we must take the government’s decision.”

Hossain went on to guarantee the DSE participants that the regulator will do the entirety at the pastime of capital market and stakeholders.

“It is a splendid probability for us that overseas traders are fascinated in investing in our inventory exchange.”

Hossain spoke to The Daily Star on a workshop titled “Alternative Investment in Bangladesh: A New Avenue of Investment”.

The workshop was together organised through Maslin Capital, a venture capital firm, and Capital Market Journalists Forum at Hotel La Vinci in Dhaka.

Wali-ul-Maroof Matin, founder and managing director of Maslin Capital, and Mahmoodul Hoque, a director of the BSEC, performed the workshop. two

Govt plans ‘textile village’ under PPP

The government is going to set up a “textile village” on 28 acres of land belonging to Tangail Cotton Mills under Bangladesh Textile Mills Corporation (BTMC) through a public-private partnership (PPP) initiative.

Ramisa Group has proposed to develop the village at Mirzapur in Tangail at an estimated cost of about Tk 1,200 crore. The cabinet committee on economic affairs recently approved in principle Ramisa’s proposal as an unsolicited bidder. An official of the textiles and jute ministry said the approval does not mean that the company has got the final nod. Now the ministry will invite competitive bidding and Ramisa will have to participate, said the official, adding that the group would, however, get some bonus points for the approval.

He stated the PPP authority scrutinised Ramisa’s proposal and it has been despatched from the cabinet committee on that basis. The authentic said the top minister issued a directive for installing current equipment at the mills that were closed down. He stated the Tangail mill’s land was once being grabbed as it had remained closed.

The current land is valued at Tk 219 crore. Those who get the job of putting up the composite mill will have to make an annual charge to the BTMC for the latter being the landowner. Ramisa, in its proposal, stated the village would create employment for about 10,000 humans while about $14 million could be yearly earned through exporting knit and woven garments. Of the estimated Tk 1,200 crore cost, Ramisa plans to convey in foreign buyers and take financial institution loans.

Ramisa stated it would absolutely be a green project with most of the unusable development being dismantled and others being developed as required whilst keeping provisions for landscaping and supplying different facilities.

It said the venture used to be envisaged to be a composite cloth mill having amenities for production of yarn, spinning, dyeing, sizing, weaving, washing, ending and garments making.

China gives nod to $3.14b loan for Padma rail link

The Chinese State Council, the highest policymaking body of the East Asian nation, has finally given the go-ahead to the $3.14 billion loan for the Padma rail link project, in what can be viewed as a massive thrust to the project’s implementation. Of the 26 projects committed by China during its premier’s visit to Dhaka in 2016, the rail link is the most pressing one, receiving the highest amount of loan.

Since 2017, the government took several initiatives to sign the agreement for the rail link project but to no avail.

Out of desperation, in January this year, the government even thought of sending a high-powered team led by MA Mannan, state minister for finance and planning, to China. The plan was dropped after the Chinese Exim Bank in a letter on February 2 informed the Bangladesh government that they would soon start the process of signing the loan agreement, said an official of the Economic Relations Division.

The draft loan agreement is expected by the end of this month, soon after the wrapping up of Chinese New Year celebrations on February 23, according to Zahidul Haque, additional secretary of the ERD.

The final agreement will be signed after an inter-ministerial assembly on the draft agreement, law ministry’s vetting and approval from the hard-term loan committee. The ERD reliable hopes that the process will be accomplished by way of April and from May its disbursement would start.

In the Annual Development Programme of this fiscal year, extra than Tk 7,000 crore has been earmarked for the project. The rail link venture is scheduled to be applied through 2022, however a component of it would be performed with the aid of December 2018 when the authorities plans to open the Padma bridge.

The project will be connected with the Padma Bridge and will enable a direct rail link between Dhaka and the southern parts of Bangladesh, particularly the Mongla port and Benapole land port. Railway ministry officials said the preparatory work for the project has already started even though the signing of the loan agreement with China has been delayed.

Loan agreements for three projects worth $1.40 billion have so far been signed since the Chinese president’s Dhaka visit. Of the amount, $700 million is for the Karnaphuli tunnel, $140 million of which has already been disbursed.

The Info-Sarkar Phase III project got $156 million, $31 million of which has been disbursed.

The remaining $550 million went to the installation of the single point mooring with double pipeline; of the sum, $110 million will be disbursed in a couple of days. In the next month, loan agreement for another project — the $231 million Modernisation of Telecommunication Network for Digital Connectivity — will be signed, the ERD official added.

Ensuring food safety

Never before did the issue of safe food take the centre-stage of public discussion in a manner it has done this year. More so, because from this year, the country has decided to observe the Safe Food Day on February 02. Rallies and seminars were organised highlighting this burning issue having a direct impact on the lives of people. In fact, ensuring food safety has become critical because of failure to enforce the existing laws properly in order to check food adulteration and rein in reckless profiteering attitude of traders. Moreover, there are no set standards and adequate laboratory facilities to put a brake on these heinous malpractices. The government, by setting up the Bangladesh Food Safety Authority (BFSA), has, however, given the nationwide campaign for safe food an institutional shape.

Food adulteration may occur through various ways. The number of incidents of intentional adulteration is much higher compared to the unintentional ones in the country. On the other hand, there is a severe shortage of modern food testing laboratories. Existing laboratories of government and non-governmental organisations need to be strengthened to ensure food safety. It’s also time for the government to empower the BFSA with adequate human resources and other facilities similar to Food and Drug Administration (FDA) of the USA.

Healthcare expense has increased several times in recent years mainly due to consumption of adulterated foods. There is a need for setting a safety standard, introducing a community certification system, creating public awareness and making more investments for ensuring food safety. According to the World Health Organisation (WHO), around 200 types of diseases are directly related to food adulteration.

It is alarming that substandard, fake and even banned pesticides are allegedly making their way into the market in the main because of lax monitoring. This poses a serious chance to public health. The authorities has banned as many as 195 hazardous pesticides over the previous few years. But many of those banned pesticides are nevertheless being used in the country. How can these pesticides, substandard and faux ones, are being marketed below the very nose of agriculture officers working at the grassroots?

The dimension regarding adulterated meals is so sizable that BSFA alone cannot stem the rot. An integrated approach, under the leadership of BSFA, would be the need of the time. In fact, mass cognizance about do’s and don’ts on meals security in each and every nook and cranny of the u . s . has to be created. For this, the BSFA ought to start a big marketing campaign through a range of ways. It can print captivating posters and different campaign substances advising human beings in easy and convenient language as to what they need to avoid as food. The posters have to be put up for public view in public places, rural markets, academic institutions and bus stations so that frequent human beings can follow these instructions in their day by day meals habit. Such campaigns might also be supported through audio-visual materials made available to a number social clubs and leisure centres. two

Minister hints at provision in Digital Security Act to safeguard reporting

Amid criticism over the proposed Digital Security Act, which activists say can be used to stifle the media, Law Minister Anisul Huq said they would add a provision to ‘safeguard investigative journalism’, reports bdnews24.com.
Speaking at an event with members of the media on Tuesday, the law minister said the specific provision was ‘not meant to target reporters’.
“If needed, a sub-section will be included in Section 32 for the sake of public interest and to safeguard investigative journalism,” said Huq. The proposed law’s Section 32 defines storing and transferring confidential government data as well as aiding and abetting such efforts as espionage. It keeps provisions of up to 14 years in jail and fines as high as Tk 2.5 million for such offences.
Last week, the cabinet green-lighted the draft of the Digital Security Act 2018, which incorporates issues addressed in the controversial Section 57 of the ICT Act in an elaborated way. Section 57 criminalises ‘publication of fake, obscene or defaming information in electronic form’. An offence under this provision of the Act is punishable by at least seven years to a maximum 14 years’ imprisonment. Fine can be as much as Tk 10 million.
Journalists and rights activists say it can be effectively used to muzzle freedom of speech and the media. Referring to the concerns, Huq was asked at an event by Law Reporters’ Forum that whether the government will drop Section 32. “The Digital Security Act law defines different types of offences. The offences stipulated in Section 32 are covered by the Penal Code.” Assuring the media, the minister said the law was not meant to target journalists. “Report facts and you won’t be charged under Section 32.”
He even went on to promise that if a reporter is prosecuted for investigative journalism, then he will represent him in court.