CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed
Call to build inclusive workforce to boost RMG sector
State Minister for Labour and Employment M Mujibul Haque Chunnu on Tuesday said a diverse workforce and inclusive workplace can play a vital role in boosting RMG sector, English language daily Dhaka Tribune reported.
The report said that the minister called for integration of people with disabilities with mainstream productivity through providing special training.
“If we can ensure their participation in the apparel sector, they will play a pivotal role in increasing production,” the report quoted the minister as saying while speaking at a seminar as the chief guest.
Referendum held in three factories of IEPZ to form WWA
Three factories of Ishwardi EPZ adopted referendum to form Workers Welfare Association (WWA), says a press release, the Financial Express reported.
The report said that the factories are Bangladeshi owned M/s Adnan PSF Industries Limited & M/s Fujian Export Industry Limited on May 22 and Indian owned M/s Gold Shine Industries on May 29.
Local value addition in RMG drops in first three-quarters of FY 17
Local value addition in the export-oriented Ready-Made Garment (RMG) industry in Bangladesh dropped in the first three quarters of the current fiscal year, English language daily the Financial Express reported.
The report said that a quarterly analysis of the central bank estimated that local value addition in RMG dropped to 73.67 per cent in July-March period of the current fiscal year (FY17).
NBR urges Power Div not to pass on new VAT rate to subscribers
The Value Added Tax (VAT) Wing of the NRB has requested Power Division to declare the current electricity tariff plus 5% VAT as supply price following enforcement of the new VAT law from July 01 next, English language daily, the Financial Express reported.
The report said that VAT policy member Jahangir Hossain sent a letter to the power division secretary on Tuesday to consider the present power tariff at the consumers’ level as MRP (maximum retail price).
When Finance Minister AMA Muhith presents the budget in parliament tomorrow, he will likely gloat about it — Tk four lakh crore in size — which is 26 percent bigger than the one for the outgoing fiscal year, the daily Star reported.
The report said that not that presenting a big budget is of great significance for Muhith; he has been doing it for the past few years. In fact, it is under his tutelage that the budget has risen from below Tk one lakh crore in 2009 to Tk four lakh crore this time around.
BB asks banks not to release foreign donations without NGO Bureau nod
Bangladesh Bank on Monday asked banks not to release any amount of foreign donation to any designated person or non-government organisation without approval letter issued by the NGO Affairs Bureau, English language daily New Age reported.
The report said that the BB issued a circular to authorised dealer branches of all banks saying that the persons and NGOs must place the approval letter issued by the NGO Affairs Bureau before the banks to withdraw their foreign donation in line with Foreign Donations (Voluntary Activities) Regulation Act, 2016.
