ECNEC approves 14 projects worth Taka 6,228 crore

Jan 23, 2018 (BSS) – The Executive Committee of the National Economic Council (ECNEC) today affirmed 14 improvement ventures including Taka 6,228.49 crore including one anticipate to guarantee penny percent zap under Comilla zone with Taka 1,521.76 crore.

The endorsement originated from the sixteenth ECNEC meeting of the current financial year held at the NEC gathering room in the capital’s Sher-e-Bangla Nagar zone with ECNEC administrator and Prime Minister Sheik Hasina in the seat.

Preparation columnists after the gathering, Planning Minister AHM Mustafa Kamal said an aggregate of 14 ventures were affirmed today with a general evaluated cost of Taka 6,228.49 crore.

“Of the aggregate undertaking cost, Taka 5,421.40 crore will originate from the GoB partition, Taka 65.81 crore from the association’s own store while whatever remains of Taka 741.28 crore from venture help,” he included.

Of the endorsed 14 ventures, nine are new while five others are reexamined ventures.

The Planning Minister said Bangladesh Power Development Board (BPDB) under the Power Division would actualize the task titled ‘Power Distribution System Improvement, Comilla Zone’ by December 2021.

The undertaking will be actualized at 13 upazilas under Comilla, Brahmanbaria, Chandpur, Noakhali, Feni and Lakshmipur regions.

The Planning Minister said the general power age limit of the nation is currently 15,379 MW while somewhere in the range of 80 percent regions of the nation have just gone under power organize.

“A decent number of activities are continuous while more tasks are in the endorsement procedure to bring whatever remains of the regions under power scope. We need to cover penny percent zones by 2020 while the administration and the concerned organizations will work in a planned way in such manner,” he included.

As per the Power System Master Plan-2016, the request of power will increment to 14460 MW by 2021, 27393 MW by 2030 and 50979 MW by 2041 with the request of power to increment by 10 to 12 percent consistently.

The clergyman additionally said the principle venture tasks incorporate development of about 14 sub control stations (33/11 KV), upgradation of somewhere in the range of 19 sub control stations (33/11 KV), erection of nearly 2106 kilometer conveyance lines.

The day’s ECNEC meeting likewise endorsed an undertaking on restoration of polders 67/A, 67, 67/B and 68 along the River Naf under Ukhia and Teknaf upazilas to enhance the fringe security of Bangladesh and Myanmar with an expected cost of Taka 141.65 crore.

Bangladesh Water Development Board under the Ministry of Water Resources will actualize the venture by June 2020.

The fundamental goal of the undertaking is to reinforce security along Bangladesh-Myanmar outskirt in an offer to check illicit interruption of Myanmar nationals to Bangladesh next to each other change of surge control framework and water waste framework in the task regions.

As indicated by Planning Commission, the surge control bank and other water seepage frameworks were harmed in the task territories because of different cataclysmic events incorporating typhoons and surges in 1991, 2007, 2008 and in 2010.

The surge control dike there was additionally used to check interruption of Rohingya nationals into Bangladesh, be that as it may, because of harmed condition, it has likewise turned out to be intense for the Border Guard Bangladesh (BGB) to direct fringe watching there through vehicles.

“The situation being what it is, the undertaking has been set before the ECNEC meeting today and was affirmed,” said a Planning Commission official.

The real undertaking tasks incorporate recovery of around 60.60 kilometer surge control bank, development of somewhere in the range of eight water seepage foundations close by repairing of about 46 water waste frameworks.

Alternate activities affirmed in the gathering are Excavation of interfacing stream to Gaznar Beel under Sujanagar upazila in Pabna, water system offices advancement and fisheries development, third changed, venture with Taka 484.68 crore, Strengthening of flavors related products of Bangladesh with Taka 94 crore, Greater Noakhali region country framework improvement venture, third stage with Taka 1,152 crore, Widening of Morjal-Belabo street and Poradia-Belabo region expressway into due standard with Taka 107.76 crore.

Development of Bogra town to Medical College connect street (N-519) with Taka 105 crore, Installation of GMDSS and incorporated sea route framework, first overhauled, with Taka 455.96 crore, Gobrakura-Koroitoli arrive port improvement with Taka 67.23 crore, Introduction of machine discernable international ID (MRP) and machine decipherable visa (MRV) in Bangladesh venture, third modified, with Taka 714.75 crore, Implementation of significant worth included assessment and supplementary obligation act, 2012 (VAT Online) venture, second amended, with Taka 690.13 crore, Learning and winning advancement venture, second reexamined, with Taka 319.77 crore,

Fortifying government through upgrading limit of BCS framework authorities, second stage, with Taka 240.69 crore and Enriching substance meteorology foundations venture with Taka 133.11 crore.

Priests and state pastors went to the gathering while at the same time arranging commission individuals and secretaries concerned were available.

Reform rules, cut corporate tax to 25pc to net in investment

A national arrangement think-tank recommends Bangladesh thump down most extreme corporate duty to 25 for every penny over a three-year time frame as a major aspect of change to goad venture and monetary development.

In the meantime, the Policy Research Institute (PRI) called for improving and streamlining the expense laws and assessment organization in accordance with ‘great universal practices’.

The focuses were made at ‘Bangladesh Doing Business’ roundtable held Saturday in the capital, Dhaka.

Specialists at the occasion watched that notwithstanding a light economy in run, private local and remote speculation isn’t demonstrating the dynamism expected to quicken the yearly monetary development to 8.0 for every penny.

“Our real rivals as India, Indonesia and Vietnam have gained critical ground in the Ease of Doing Business rankings throughout the years while we are not really making any change,” said Dr. Sadiq Ahmed, Vice Chairman of the PRI, in his keynote introduction.

Investigating the simplicity of-working together markers, the PRI scientists demonstrated that Bangladesh positioning is at the lower end of nations for 9 of the 10 pointers.

The four pointers where Bangladesh performed moderately more regrettable are: upholding contract, enrolling property, getting power, and exchanging crosswise over fringes.

“These propose that there is no convenient solution to Bangladesh’s speculation atmosphere difficulties and it will require major changes over a long stretch,” Mr. Sadiq told the meet.

Such perspectives were likewise reverberated by Kazi M Aminul Islam, Executive Chairman of Bangladesh Investment Development Authority (BIDA) who went to the occasion as boss visitor.

“As of now, our laws are obsolete, rules are superfluous, forms are excess, strategies are awkward, framework is inadequate, learning and expertise level is behind many,” said the BIDA manager.

“With this present status of foundation or controls, we can’t go past 7.5 percent development,” Mr. Islam stated, in impression of his experience as boss venture facilitator in the nation.

He concurred with the strategy investigators that achieving the following level of development would require “enormous change”.

Against this setting, as short-to-medium-term changes, PRI specialists prescribed bringing down the most extreme corporate-impose rate while additionally improving and streamlining the duty laws and assessment organization.

Corporate-impose rates for non-recorded organizations in Bangladesh is right now 35 for each penny and for the recorded ones 25 for every penny. Recorded banks and insurance agencies need to pay 40 for each penny as corporate expense while recorded banks and NBFIs 42.5 for every penny. What’s more, over the expense pyramid are tobacco organizations and non-recorded cell phone organizations paying at the most noteworthy rate of 45 for each penny.

The PRI specialists, in any case, called for bringing down the most extreme corporate expense to 25 for every penny over a time of three years as a major aspect of a bundle change went for boosting the nation’s venture atmosphere.

They likewise called for disentangling and modernizing the outside money administration while additionally accentuating the requirement for lessening exchange insurance and bringing down exchange calculated expenses.

“In the meantime, the lawful system for contract requirement and bankruptcy should be fortified,” said Mr. Sadiq.

As quick measures, PRI scientists proposed building up marker particular usage advisory groups, ordering the Companies Act mirroring the working together pointer particular suggestions and guaranteeing power association with organizations inside 28 working days.

 

They additionally called for presentation of e-documenting and e-installment for a wide range of VAT and expense exchanges and authorizing the obligatory intervention arrangements in common and business cases and also advance recuperation cases.

Leader of Bangladesh Enterprise Institute Farooq Sobhan in his discourse remembered that, a couple of years back, South Korean mammoth Samsung needed to set up a plant in Bangladesh however later moved to Vietnam attributable to different speculation related problems.

“Since same Samsung plant is sending out merchandise worth of US$ 60 billion every year from Vietnam,” the previous negotiator said to refer to an epic instance of damage.

Pondering the current government move to set up 100 Special Economic Zones the nation over, President of the Metropolitan Chamber of Commerce and Industry (MCCI) Barrister Nihad Kabir stated, “Rather than going for 100 SEZs at once, we may at first hope to set up 5 zones with an elevated requirement, get the lessons and after that increase other 95.”

Refering to the case of India, previous President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Anwar-ul Alam Chowdhury called for setting up a Human Resource Ministry.

“This service ought to be entrusted to investigate the future human-asset requests and to team up with the Ministry of Education for setting up the nation’s future age according to that anticipated request,” the representative said