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China to boost $3.8tr digital economy

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China to boost $3.8tr digital economy

Xi calls for self-reliance

Reuters, Beijing

China on Wednesday pledged to expand its $3.8 trillion digital economy and create jobs in new sectors such as big data and artificial intelligence (AI) as the world’s second-biggest economy looks to shift away from a reliance on polluting heavy industries.

China is in the midst of a long-term restructuring that has seen the decline of low-end industries and the emergence of higher-value factories that make products from robotics to drones.

But an intensifying trade war with the United States, China’s biggest trading partner, has stoked concerns that Beijing’s long-term plan to shift to high-end manufacturing under its ‘Made in China 2025’ plan could be jeopardized.

In recent months, Chinese government departments and agencies such as the National Development and Reform Commission (NDRC) have been affirming their commitment to long-term restructuring, which Beijing sees as a means to rely less on trade and other external growth drivers.

China will make further inroads in its digital economy including the internet of things, big data, clouding computing and AI, the NDRC said on Wednesday.

Those sectors will become new drivers of job creation by 2025, the state planner said.

China should embark on a path of self-reliance with the rise of unilateralism and trade protectionism, state-controlled People’s Daily quoted President Xi Jinping as saying on Wednesday as he conducted an inspection tour of factories in the rustbelt province of Heilongjiang.

This is not a bad thing, Xi said, as China will have to rely on itself in the end. Chinese state media has accused Washington of using trade to suppress the country’s development.

The NDRC said it will also step up financing support to help new industries expand, including drawing funds from capital markets.

Earlier this month, it signed an agreement with China Development Bank, a major policy lender, to offer 100 billion yuan ($14.55 billion) in financial support for the digital push.

China’s digital economy rose 18 percent to 26 trillion yuan ($3.8 trillion) last year, equal to a third of the country’s gross domestic product (GDP), according to the China Academy of Information and Communications Technology.

Traditional sectors will be digitalized, driving more workers to switch jobs, said the NDRC, adding that China will also look to attract foreign talent.

Beijing is banning the addition of new capacity in low-end manufacturing sectors such as textiles, furniture, food and chemicals, the Beijing Daily said on Wednesday.

But manufacturing of new energy vehicles and industrial robots will be allowed. The digital economy is also expected to help modernize agriculture, with China keen to rejuvenate aging rural areas, according to the NDRC.

Govt seeks funds from WB

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Govt seeks funds from WB

Star Business Report

Bangladesh has sent a proposal to the World Bank seeking finances for its $5.15-billion Ganges Barrage project, said Finance Minister AMA Muhith yesterday.

“I have given (to the World Bank) the Ganges Barrage project much earlier,” he told reporters after a meeting with WB Vice President for South Asia Hartwig Schafer at the Sonargaon hotel in Dhaka.

The Ganges Barrage scheme is a top priority project under the government’s 100-year Delta Plan 2100, which was approved by the National Economic Council on September 4.

The barrage project is one of the 80 top priority schemes to be implemented by 2031 at an estimated cost of about $37 billion under the Plan.

Muhith said the WB will surely participate in the Plan as it is Bangladesh’s largest donor.

Schafer told reporters that the good use of the WB’s financial support is reflecting in Bangladesh’s growth numbers. In the last fiscal year, Bangladesh used about $3 billion.

He said, “I am delighted to see how our support is improving the life of the people of Bangladesh and improving the prospects of the young generation.”

Schafer said the WB would help the country with knowledge and resources to strengthen its resilience to natural disasters. The vice-president visited various Rohingya camps in Cox’s Bazar on Monday and Tuesday.

Schafer said the Bangladesh government has provided tremendous support to the Rohingya refugees and the global community is recognising it.

“That’s why the World Bank is supporting the government to enhance its capacity to serve the refugees.”

Singapore firm invests $15m in Shohoz

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Singapore firm invests $15m in Shohoz

Star Business Report

Online ride-hailing and ticketing platform Shohoz yesterday announced it has raised $15 million from Golden Gate Ventures of Singapore to expand its business.

However, both Shohoz and Golden Gate Ventures declined to give the number of shares the investor will receive in exchange of the fund.

Jeffrey Paine, founding partner of Golden Gate Ventures, said the Singaporean company has received a minority stake in Shohoz through the investment and will sit in the board of the company.

At a press conference at the Pan Pacific Sonargaon Hotel in Dhaka, the ride-sharing startup officially announced the development and said the fresh capital will be used for customer acquisition and retention of the ride-sharing business as well as for expanding other on-demand car services.

“Our market is ready for a thriving ride-sharing and related businesses and within a short time we will move beyond Dhaka to expand our service across the country,” said Maliha Quadir, founder and managing director of Shohoz.

“This additional money will be helpful to expand and make new acquisition.”

Shohoz began its journey four years ago with some angel investment and started the ride-sharing service in January this year. It is the market leader in e-ticketing.

In the ride-sharing business, Shohoz’s focus is on the bike segment. It rolled out the car-sharing service last week.

It is now working to introduce insurance for both riders and passengers within a short time, said Maliha.

She said the venture is planning to roll out the on-demand car service although the bike-sharing will remain its priority.

“Motor bikes will help reduce traffic congestion in Dhaka and make city-dwellers life faster and smoother.”

Paine said Golden Gate Ventures has interests to invest more in Bangladesh, especially in the tech-related startups.

He said Bangladesh has all the indicators of a country poised for tremendous growth: increasing digitisation of consumer services and rising consumer purchasing power. Golden Gate Ventures is an early-stage venture capital firm investing across Southeast Asia.

Since 2011, the firm has invested in more than 30 companies in a number of countries in Asia. It invests in internet and mobile startups in sectors such as e-commerce, payments, marketplaces and mobile applications, according to the company’s website.

Banks’ profit rises 20pc

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Banks’ net profit soared 19.55 percent in the first six months of the year, compared to the same period a year ago, propelled by impressive performance by a few private lenders.

Between the months of January and June, the banks raked in profits of Tk 2,206 crore, according to the provisional data received by the Bangladesh Bank.

During the period, they logged in operating profit of Tk 11,358 crore, from which Tk 3,929 crore was deducted as tax and Tk 5,223 crore as provisioning against bad loans.

In truth, only a few banks managed to bag handsome amounts of profit, which has flattered the entire sector’s performance in the first half of 2018, said a BB official.

“It is not possible to register net profit growth if default loans are on the rise,” he said, adding that most of the banks either managed marginal profit or faced negative net income in the first half of the year for the spiralling default loans.

As of June, the banking sector’s total default loans stood at Tk 89,340 crore, up 20.23 percent from six months earlier.

Banks that were able to restrain their non-performing loans registered good net profits, said MA Halim Chowdhury, managing director of Pubali Bank.

Pubali’s net profit more than doubled to Tk 203 crore in the first six months of this year.

“We kept huge amounts of provisioning against our default loans last year. But in recent months, we have successfully managed to control our classified loans, which ultimately had a positive impact on our net income.”

Among the private banks, Brac Bank recorded the highest net profit of Tk 643 crore, followed by Standard Chartered at Tk 499 crore, Sonali at Tk 327 crore and Islami at Tk 312 crore. Brac Bank Managing Director Selim RF Hussain, however, disputed the figure put out by the central bank about his bank’s net profit in the first half of the year.

“This figure is not correct and my bank did not log such a large amount of net profit in the period,” he said.

The bank’s financial report showed that its net profit after tax stood at Tk 273 crore.

Among the private lenders, Bank Asia put up a strong showing in the first six months of the year: its net profit shot up 75.71 percent year-on-year to Tk 123 crore, according to data from the central bank.

The bank’s balance sheet has expanded substantially in the recent period, which was reflected on the higher net income, according to Md Arfan Ali, managing director of Bank Asia.

Syed Mahbubur Rahman, chairman of the Association of Bankers, Bangladesh, a platform of the managing directors of private banks, said banks should not be complacent about the half-yearly net profit data as the picture may change at the yearend.

He, however, said that the net profit growth is linked to the private sector credit growth.

“The credit growth ranged from 18.36 percent to 16.96 percent between January and June. So it was logical that the sector’s net profit grew 20 percent,” said Rahman, also the managing director of Dhaka Bank.

The six state-run banks, however, collectively registered a net loss of Tk 1,234 crore in the first half, against Tk 1,047 crore a year earlier.

Major trade deal with India on the way

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Major trade deal with India on the way

Refayet Ullah Mirdha

Bangladesh and India yesterday agreed to sign the Comprehensive Economic Partnership Agreement (CEPA), a greater economic cooperation deal, with the view to boosting bilateral trade.

Indian Commerce Minister Suresh Prabhu and Bangladesh’s Commerce Minister Tofail Ahmed announced the signing of the deal at a joint press conference after a delegation meeting between the two countries in Dhaka.

They, however, did not mention any specific date for the inking of the trade deal.

“We will sign the CEPA for continuation of duty benefit on export to India even after graduation from the least developed country bracket to a developing one in 2027,” Ahmed said at the press conference. Currently, Bangladesh as an LDC enjoys zero-duty benefit on exports to India for all goods save for 25 alcoholic beverage items.

Trade analysts said Bangladesh stands to benefit from the deal if it is negotiated carefully.

The CEPA is a greater partnership deal between two countries or with any trade bloc, under which special treatment is considered in areas of trade, investment, energy cooperation, logistic support and so on.

For instance, there is a possibility of more Indian investment in Bangladesh, more energy cooperation and aid for trade between the two countries under the CEPA deal as it is considered as a greater partnership, said Mustafizur Rahman, distinguished fellow of the Centre for Policy Dialogue.

Under the partnership agreement, both countries will work towards improving the logistic and trade-related capacities of Bangladesh.

“In this case, both countries will have to recognise their economic differences,” Rahman said, adding that the duty-free export of goods from Bangladesh to India will have to continue even after signing the CEPA.

The CEPA might not affect the local industries as it is a partnership deal only, said Ahsan H Mansur, executive director of the Policy Research Institute, another think-tank.

“There is nothing wrong if the deal is signed. There is scope for more investment from India and preferential treatment in trade,” he said.

India has signed the CEPA with some countries like South Korea and Japan and is in negotiations with the ASEAN (Association of South East Asian Nations) to hammer a similar deal.

Apart from the CEPA, the ministers also talked on some other pending issues that are acting as impediments to the growth of bilateral trade.

Prabhu has assured that his government will work on lifting the anti-dumping duty on the export of jute and jute goods to India.

Local exporters were left with their hands tied to their backs after India in January last year imposed an anti-dumping duty of up to $352 on jute and jute goods.

Prabhu also said India will accept the certification of the Bangladesh Standards and Testing Institution. “We have decided to address the issue of the BSTI.”

Bangladeshi exporters have been complaining that the Indian side does not accept the certification of the BSTI although the neighbouring country had previously agreed to accept the country’s standards certification for 21 items.

This time, the Indian side has agreed to accept the certification for 27 Bangladeshi goods, Ahmed said.

The two ministers said six more border haats will be set up soon.

Currently, four such haats are in operations and another one along the Dalu-Nakugaon border will be opened within one month, Ahmed said.

Prabhu said India would be a $10 trillion economy by 2035, so Bangladesh has an opportunity to attract more Indian investment as a partner country.

He went on to invite Ahmed to attend a Bangladesh-focused investment conference scheduled to be held in India next month or in November.

Prabhu also invited the Bangladeshi minister to attend the partnership summit to be held in India in January next year when Bangladesh will have the opportunity to bag more Indian investment.

He touted the tourism sector as a major job creator and advised Bangladesh to promote the tourism facilities in the Sundarbans, which spans the two countries.

A joint communiqué issued on the outcomes of the meeting said Ahmed encouraged the Indian investors to invest in the special economic zones being developed by the Bangladesh Economic Zones Authority across the country.

Recognising the importance of Petrapole-Benapole land ports, the ministers agreed to remove impediments affecting smooth clearance of cargo at this location.

They agreed for a one-time push to remove congestion of cargo trucks with effect from October 15 this year for a period of two months, the communiqué said.

They also agreed to support the improvement of infrastructure of land customs stations in Bangladesh adjoining Tripura border.

Noting the need to restore the pre-1965 railway connectivity between two countries, the Bangladesh side proposed a new end-to-end train service between Dhaka and Siliguri with customs and immigration checks at the starting points at both ends, according to the joint communiqué.

Bangladesh demands better prices for garment items

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Bangladesh demands better prices for garment items

Star Business Report
Bangladesh sought better prices for its export items, especially garments, from the US retailers and brands in the fourth round of Ticfa meeting held in Washington on Thursday.

In the event of the Trade and Investment Forum Agreement (Ticfa), Bangladesh also demanded duty privilege for all the products of its export basket to the American markets.

Bangladeshi garment makers have been re mediating the factories as per the recommendations of the Accord and Alliance—building inspection and remediation agencies—which will cost them nearly $3 billion.

The tenure of both the western agencies will end in December this year.

But the western buyers still do not want to raise the prices a bit in an excuse of a fall in demand for apparel items in their countries, including the US, the commerce ministry said in a statement.

In the meeting, Bangladesh also sought increased investment from the US, according to the statement.

Bangladesh also reminded US of the Bali declaration of the World Trade Organisation in 2013, when the developed nations agreed to give duty waiver to the goods of least developed countries.

In Bali, they also gave word to offer duty benefits to 97 percent of the goods originated from the LDCs, if duty waiver to all goods is not possible.

Bangladeshi products also enjoy the duty waiver, but the US kept garment items—the main export item of Bangladesh—out of the 97 percent package’s list.

Currently, the garment makers have to face a 15.62 percent duty for export to the US.

The overall value of Bangladesh’s exports to the US increased 5.83 percent year-on-year to $3.63 billion in the first seven months of this year thanks to higher apparel shipments, US Census Bureau data shows.

In the period, apparel exports to the American markets grew 5.61 percent year-on-year to $3.21 billion and Bangladesh became the third—moving up from the sixth position—highest garment exporter to the US, according to data from the US Office of Textile and Apparel.

Garment items account for over 90 percent of Bangladesh’s total export value and the US is its largest garment export destination. In June 2013, the US government suspended Bangladesh’s trade privilege—the Generalised System of Preferences—citing poor labour rights and workplace safety.

The trade privileges are yet to be reinstated, although Bangladesh lobbied the US government after improving the labour standards and workplace safety, the commerce ministry said. The US duty free import benefit under the GSP programme is extended only to some LDCs in the Sub Saharan areas under the African Growth and Opportunity Act.

Bangladesh also demanded US cooperation for sustainability of its economy after the country’s graduation to the developing country’s category. In the Ticfa meeting, the US representatives urged Bangladesh to import more American cotton and improve intellectual property rights.

The US side in the meeting also discussed the procurement policy and labour rights issues of Bangladesh.

The meeting was co-chaired by Shubhashish Bose, commerce secretary, and Mark Linscott, assistant US Trade Representative (USTR) for south and central Asian affairs, according to a statement from the USTR. Earlier, the US and Bangladesh had signed the Ticfa agreement in November 2013 mainly to revive the GSP to the US markets.

Go for rooftop solar panels to raise power output

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Go for rooftop solar panels to raise power output

Experts urge factory owners

Star Business Report

Factories should make the best use of their rooftops by installing solar panels to get power for their own consumption and for the national grid, experts said yesterday.

The cost of electricity generation will be much lower than that of the grid power if rooftop solar panels are used, said Tawfiq-e-Elahi Chowdhury, the prime minister’s energy adviser.

At the same time, the factories would be able to sell their excess electricity at the tariff rate of the grid power, he said.

He spoke at a seminar on “Net metering: opportunities and challenges” at the National Press Club in Dhaka.

The Forum for Energy Reporters Bangladesh (FERB) and the Solar Module Manufacturers Association of Bangladesh (SMMAB) jointly organised the programme.

Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid.

The government has enacted the guideline for net energy metering, which is a business model, said Mohammad Hossain, director general of the Power Cell under the power division.

“Now it is up to the industries and businesses to harness the power of home and rooftop solar panels.”

The government had earlier made it mandatory to install solar home and rooftop systems with every new power connection, but the initiative had failed to yield good results, he said.

Bangladesh has pledged to have 100 percent renewable energy by 2050, said Munawar Misbah Moin, president of SMMAB.

The goal number seven of the sustainable development goals calls for ensuring access to affordable and clean energy by 2030, he said.

“Net metering is a significant step to achieving the goals,” he said while making a presentation.

Bringing a change in the mindset is required to shift the focus from the existing centralised and fossil fuel-based power to clean and locally generated electricity, said Moin, also group director of Rahimafrooz (Bangladesh) Ltd.

He said it is technologically proven that solar home systems can supply power to the grid. The entrepreneur added the price of solar panels has gone down by 30 percent to 40 percent in the last five years and it would fall further.

Net metering reduces dependence on the grid power and cuts electricity bill of customers by way of lowering the use of electricity from the grid, said Shakila Aziz, assistant professor of the United International University. It also contributes to the reduction of greenhouse gas emission through promoting generation of electricity from renewables while lessening the country’s reliance on fossil fuels, she said during a presentation.

She proposed introducing a number of incentives for promoting rooftop solar panels — providing such panel users with cuts in income tax, value-added tax and exemptions from property tax.

Arun Karmaker, FERB chairman, and Sadrul Hasan, executive director, also spoke.

Apparel benefitting from US-China trade war

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Apparel benefitting from US-China trade war

Refayet Ullah Mirdha

Bangladesh’s garment sector is turning into a beneficiary of the US-China trade war as American retailers are placing more work orders, but other sectors, such as jute and leather goods, are yet to see an uptick in fortunes.

Though China is by far the world’s biggest exporter of manufactured goods, some factory owners over the past decade began moving production to other developing countries such as Bangladesh, Cambodia and Vietnam, said a recent report of The Financial Times.

This was in search of cheaper wages and a hedge against the political and economic risks that come from reliance on one country.

“Factory owners and US buyers say the trade war will intensify this shift,” said the London-based news organisation.

The observation proved true as local garment manufacturers acknowledged receiving more work orders from the

US.

Take, for instance, the case of Viyellatex Group, a leading exporter that mainly ships to European countries.

Three American buyers, who had folded their business in Bangladesh two years ago, are set to place bulk orders, said David Hasanat, chairman and managing director of Viyellatex Group, while withholding the retailers’ identities.

These three are not the only ones as many other US-based clothing retailers are now queuing up at his factory as China has already turned expensive for them, he said, adding that the trade war has been the impetus needed to re-route the buyers to Bangladesh.

Three out of every 10 buyers Hasanat now serves are from the US — a development of six months. The year-on-year growth of Viyellatex Group’s American buyers is 25 percent.

The number will increase further if the Trump administration finally scraps the North American Free Trade Agreement (Nafta), Hasanat said.

Earlier, many Chinese garment companies set up factories in Mexico to avail the duty privilege under the Nafta. But now, apprehending the withdrawal of Nafta, the Chinese investors are pulling out from Mexico.

Bangladesh has also been benefitting in the purchase of cotton as prices decreased 10 percent after China imposed high duty on the import of the natural fibre from the US. China imports $1 billion worth of the white fibre from the US in a year.

Similarly, AK Azad, managing director of Ha-Meem Group, which exports 90 percent of his $550 million-worth production to the US, is expecting higher work orders from American retailers.

Though Vietnam is already benefitting on a massive scale from the US-China trade war, Bangladesh does have the scope to increase gains, especially in garment business.

“But, first of all we need to improve our production capacity,” he added.

Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association, said the kickbacks from the trade war might not be visible overnight. “However, the condition of work orders is better now from last year,” he said.

The value of last year’s global garment business also indicates a declining trend for China. Although China remained the largest apparel supplier globally, its share shrank to 34.9 percent from 36 percent.

Bangladesh’s share increased to 6.5 percent from 6.4 percent through exports worth $29 billion, according to data from World Trade Organisation.

However, the benefits are yet to come for other sectors. Jute goods have not benefitted yet from the trade war, said Enamul Haque Patwary, the immediate past president of Bangladesh Jute Goods Exporters’ Association.

Manufacturers and exporters said Bangladeshi leather and leather goods are yet to see a spike in orders.

The Trump administration has so far levied 25 percent tariffs on $50 billion of Chinese industrial goods and is considering imposing similar tariffs on another $200 billion of Chinese exports.

China immediately retaliated with a 25-percent tariff on imports of soy beans, other agricultural products and automobiles.

Bangladesh, Nepal to work together for power sector development

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Bangladesh, Nepal to work together for power sector development

UNB, Kathmandu

Bangladesh and Nepal have agreed to enhance trade and investment between the two countries as well as cooperate with each other for the development of the power sector.

The consensus came at a bilateral meeting held between Bangladesh Prime Minister Sheikh Hasina and her Nepalese counterpart Khadga Prasad Sharma Oli at Hotel Soaltee Crowne Plazza in Nepal yesterday.

Prime Minister’s Press Secretary Ihsanul Karim briefed reporters after the meeting.

Karim said both the leaders discussed the bilateral and regional cooperation.

Nepal is a very important country for Bangladesh, Hasina said.

The main aim of the countries in the region, especially Bangladesh, is to eradicate poverty, she said.

“We not only want our own development, we also want our neighbours to develop.”

The Bangladeshi premier offered Nepal to use the seaports of Bangladesh and Syedpur airport for business and travel purposes.

Hasina emphasised strengthening the regional connectivity and said Bangladesh can share its experience in disaster management with Nepal. She also recalled the Nepalese support towards Bangladesh during the liberation war in 1971.

The Nepalese prime minister also stresses the need for exploring opportunities to enhance the cooperation between the two nations.

A memorandum of understanding has already been signed for export of 500 megawatts of electricity to Bangladesh, Oli said.

The Nepalese prime minister expressed his happiness as Hasina accepted his invitation and joined the fourth Bimstec summit in Kathmandu.

Nepalese Foreign Minister Pradeep Kumar Gyawali and Nepalese Foreign Secretary Shanker Das Bairagi were, among others, present.

Foreign Minister AH Mahmood Ali, Principal Secretary Md Nojibur Rahman, Foreign Secretary Md Shahidul Haque and Ambassador of Bangladesh to Nepal Mashfee Binte Shams were also present.

Later, Chief Adviser (head of interim government) of Bhutan Dasho Tshering Wangchuk met Hasina at the same place.

Wangchuk informed Hasina about the upcoming election in Bhutan.

According to the constitution, the parliament in Bhutan has been dissolved and the new government will take oath by October 31, said the adviser.

The two leaders expressed satisfaction over the existing friendly ties between the two countries and hoped that the relationship will further be strengthened in the days to come.

The Bhutanese chief adviser recalled his visit to Bikramapur in Bangladesh.

Later, Hasina along with other Bimstec leaders paid a joint call on Nepalese President Bidya Devi Bhandari at Sheetal Nibash, the Presidential Palace, in the capital city. They also attended a luncheon there hosted by the Nepalese president.

IT firms seek time to relocate

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IT firms seek time to relocate

They want to stay in non-commercial areas as tech parks are not ready

Star Business Report

IT firms yesterday requested the government to allow them to continue their operations in non-commercial areas until the country’s software technology parks are ready.

The Bangladesh Association of Software and Information Services (BASIS) urged the government to issue an order so the firms aren’t closed until the parks are ready for use.

Recently, Rajdhani Unnayan Kartripakkha (Rajuk) began a drive to shut down IT firms that are running operations in different residential zones in the city.

The BASIS said the drive should be halted as it will take a few years to complete the government-owned software technology parks.

“The government gave a target to earn $5 billion from software and ITES exports by 2021, but it will not be achieved if we face this type of barrier from the authorities,” said Syed Almas Kabir, president of the association, at a press conference in its office in the city.

The government has undertaken an initiative to set up 28 software technology parks in different cities.

IT firms need support to run operations in non-commercial areas before the parks are ready, said Kabir.

“When these parks are ready, we believe the BASIS member companies will be accommodated in these dedicated places,” said Kabir.

He said Rajuk recently shuttered IT company Solution9 Ltd’s office for being located at a non-commercial zone in Uttara without any prior notice.

This has damaged the company’s reputation, he said.

Previously, Rajuk shut down a number of offices of IT firms in Uttara and Dhanmondi.

Currently, there are 1,100 member companies of the BASIS. Of them, 800 are located in non-commercial areas in Dhaka city. The member firms employ more than 1 lakh people.

These firms have invested about $500 million and much will depend on these firms to meet the export target from the ICT sector, said Kabir.

Farhana A Rahman, senior vice president of the association, said the member companies have clients in the US, Japan and Europe. Because of the different time zones, many companies have to provide round-the-clock service, but commercial spaces won’t allow them to work 24/7, she said. “Software and ITES-related works are solely dependent on human brains and require quiet environments. This kind of firms never create any noise or disturb their neighbours,” said Rahman.

The BASIS leaders said they are negotiating with the housing and public works ministry and the Rajuk about the issue.