Rejaul Karim Byron

The cost of two projects related to the much-hyped Payra Sea Port continues to shoot up and their completion is facing delays although the port belongs to the government’s list of fast-track projects.

The government is going to expand the Internet Protocol (IP) network of the Bangladesh Telecommunications Company Limited (BTCL) with an aim to expand broadband network to upazila and union levels.

Just as it had been for past LDC status graduates, Bangladesh will also not face a lot of challenges afterwards for already having proven its economic resilience and potential for sustainable growth, according to a government study.

The government is going to amend procurement rules to import rice, wheat and other commodities in the fastest possible time.

At least 66,622 people would fall below the poverty line due to the decline in exports following Bangladesh’s graduation to a developing nation from the group of least-developed countries, according to a government analysis.

Loans to the vulnerable sectors in Bangladesh such as garment, textile, cement and tanneries will face significant pressure as they are yet to see expected recovery from the shock of the coronavirus pandemic, Moody’s said.

Development of physical infrastructure, improvement of the business climate and labour productivity and technological adoption are the key to making Bangladesh competitive in global trade by offsetting the fallouts of the LDC graduation.

Prime Minister Sheikh Hasina yesterday expressed displeasure over frequent revisions of projects and directed the authorities to take legal action against those responsible for flawed project designs that ultimately push up costs.

The government has undertaken a Tk 4,367 crore project to turn the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) into an environment-friendly industrial city with a view to attracting more foreign investment.

Bangladesh will face an uphill task in convincing major trading partners and regional blocs to sign free trade agreements (FTAs) because of higher tariffs as it looks to retain duty benefits after its graduation from the LDC group, according to a government report.

University-going students aspiring to be tech-entrepreneurs are set to get a shot in the arm as the government is planning to create innovation hubs at both public and private universities to develop digital entrepreneurship and innovation ecosystems.

Bangladesh’s export earnings and the flow of concessional foreign financing and grants will decline once it becomes a developing country, according to a government study.

Small traders, entrepreneurs and farmers who had no access to finance from banking channels will now be able to avail loans at 4 per cent interest from a fresh Tk 1,500 crore stimulus package.

The coronavirus crisis has worsened education inequality between rich and poor in Bangladesh as a huge number of students from poor families are not able to access the distance learning adopted by the government, according to a World Bank working paper.

Bangladesh’s economy will return to the high growth trajectory in the next fiscal year overcoming the scarring impacts of the coronavirus pandemic, according to a United Nations report.

The government plans to take a Tk 428 crore project to develop the skills of 256,000 unemployed and disadvantaged women to turn them into entrepreneurs and create jobs.

In 2019, the government took up a project to construct the first terminal of the Payra Sea Port and its related infrastructure.

In 2017, the government took up a four-and-a-half-year project, worth over Tk 3,900 crore, to construct bridges in rural areas for boosting agricultural and non-agricultural productions as well as sending the produce to the market easily.

With small businesses still struggling to recover from the pandemic-induced economic slowdown, the government has rolled out two fresh stimulus packages involving Tk 2,700 crore to boost the cottage industry and SMEs and expand the social security scheme for the elderly and widows in poverty-stricken areas.

The cabinet committee on government purchase yesterday approved a proposal to import 50,000 tonnes of wheat.