Banani flyover-overpass cost may double on changes

The cost of Tk 1.93 billion Banani flyover-overpass project is likely to double owing to bringing considerable changes in its design, as experts apprehend the present one may worsen traffic congestion on the Airport Road corridor.

Experts have found weaknesses in the first design like the absence of acceptable traffic count for the next 10 to 15 years, adjustment with upcoming transport projects and the existing road design. They suggested inclusion of some new provisions in it.

They said the Banani flyover and overpass has been planned without taking into account the signals and right turnings of the busy highways as these are considered major reasons for the failure of the city's existing flyovers to lessen traffic jam.

"We have at the moment Mohakhali or Tongi overpasses like bridges, which were expected to be helpful in lessening traffic gridlocks significantly. But all these overpasses are now held responsible for aggravating the jams as they have not considered up-and-down points by avoiding signals and right turnings," said Shamsul Haque, Professor of Transportation Engineering Division of Civil Engineering Department at BUET.

BUET (Bangladesh University of Engineering Technology) in a study shows that at least 20 signal points and right turnings from Shahjalal International Airport to Shahbagh increase the traffic jam and tailback of motorised vehicles on the entire corridor.

Bangladesh jute price report on July 5

Rates supplied by the Bangladesh Jute Association
JUTE VARIETY BALES FOB Narayanganj
(One bale = 180 kg) (Taka per bale)

Ready Position (in taka) Bangla white special (BW special) 14,000 Bangla white A (BWA) 13,700 Bangla white B (BWB) 12,800 Bangla white C (BWC) 11,300 Bangla white D (BWD) 10,850 Bangla white E (BWE) 10,400 Bangla tossa special (BTS) 14,300 Bangla tossa A (BTA) 14,000 Bangla tossa B (BTB) 13,100 Bangla tossa C (BTC) 11,600 Bangla tossa D (BTD) 11,150 Bangla tossa E (BTE) 10,700 WRS/TRS, HABIJABI, CUT ROPES Bangla white rejection (BWR) 9,250 Bangla white habijabi (BWH) 7,300 Bangla tossa rejection (BTR) 9,500 Bangla tossa habijabi (BTH) 7,300

CUTTINGS Bangla white cuttings A (BWCA) 6,800 Bangla white cuttings B (BWCB) 6,600 Bangla tossa cuttings A (BTCA) 7,100 Bangla tossa cuttings B (BTCB) 6,900

MESHTA Meshta special 14,000 Meshta A 13,700 Meshta B 12,800 Meshta C 11,300 Special meshta cuttings 6,800 Ordinary meshta cuttings 6,600 Meshta- SMR 9,000

STATE OF THE MARKET--REMARKS Quality - good Condition - fair Narayanganj imports - About 3,000 Qntl. Daulatpur imports - About 8,000 Qntl. Market trend - As usual

NOTE Raw jute exports during 2010-2011 (01.07.2010 to 31.03.2011) = 1,378,551 bales Value 13.05 billion taka ($1=74.27 taka) Source: Bangladesh Jute Association, Dhaka +880-2-9552916, Narayanganj +880-2-7630904
http://in.reuters.com/article/2011/07/05/idINL3E7I303O20110705

BB extends exclusivity of PDs for one more quarter this year

"Only the PDs will be allowed to submit the bid in the primary auction of government treasury bills and bonds for July-September period of this year," an executive director of the Bangladesh Bank (BB) told.

The system has been introduced aiming to broaden, and bring depth to, the secondary market of government securities, the BB executive said, adding that the system may be continued further, subject to its successful implementation.

The central bank introduced the system for the first time in Bangladesh for the April-June period this year to boost the country's secondary securities market through strengthening the activities of the PDs.

Under the system, non-PD banks and financial institutions will take part in the auction only through the PDs.

The PDs welcomed the central bank's latest move, saying that it would help bring dynamism to the secondary market of the government-approved securities.

"We expect that the system will continue in the near future to facilitate the PDs' performance," a senior member of the Primary Dealers Bangladesh Limited (PDBL) told.

He also said the non-PD banks and financial institutions will have to buy the securities from the PDs to meet their statutory liquidity ratio (SLR) with the central bank.

The PDBL earlier urged the central bank not to allow the non-PD banks and non-banking financial institutions (NBFIs) to participate in the primary auction of the government securities.

Currently, three treasury bills (T-bills) are being transacted through auctions to adjust the government borrowing from the banking system.

The T-bills have 91-day, 182-day and 364-day maturity periods.On the other hand, four government bonds -- five-year, 10-year, 15-year and 20-year -- are being traded on the market.

The central bank of Bangladesh earlier selected 15 PDs -- 12 banks and three NBFIs -- to handle government-approved securities in the secondary market. The PDs will subscribe and underwrite primary issues and make secondary trading deals with two-way price quotations.

A PD will not short-sell any particular issue and will not hold a short position in secondary dealings. The PDs will not act as inter-bank or inter-dealer brokers, which has been specified in the guideline.
News Source:
The Financial Express

NBR to reciept previously evaded tax rise 84 pcNBR to reciept previously evaded tax rise 84 pc

Revenue receipts from previously evaded tax rose 84 percent in fiscal year 2010-11 from earlier year according to a source of National Board of Revenue (NBR). This disclosure came on June 30 when officials of NBRs Central Intelligence Cell presented the revenue collection scenario on the dodged tax to NBR chairman. NBR collected Tk. 103 crore previously evaded tax in 2010-11. Of the amount, income tax collection Tk. 80 crore, VAT Tk 18 crore and import duty Tk. 5 crore. In 2009-10 that was Tk. 56 crore in evaded tax. NBR take a 5 year modernization plan to boost tax collection performance of officers. For the fiscal 2011-12 NBR set target t collect Tk. 91,870 crore in revenues, which is Tk. 16,270 crore more than the last fiscal year's revised budget. Finance Minister reset on June 29 income tax rate at source .7 percent from 1.5 percent in proposed budget. It was .5 percent in 2010-11.