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Awami govt set to destroy backbone of Bangladesh economy

LOL...

Every post by you have the same sentences..

"stooge" and "hate AL"..

Try something different for a change.


Also give a comparison of this rule and your favorite party's rule with statistics...not with the regular hate words and "stooge... stooogeee.. stooogeee calls"

Have you fallen in your head? Read what had been posted.

When Awami League regime took over the power turnaround time in Chittagong port was 2 days. 18 months into power Awami regime managed to destroy that efficiency and now turnaround time is 5-6 days.

And you indians are proving everyday Awami regime is indian stooge. We dont have to do anything but point out.
 
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Have you fallen in your head? Read what had been posted.

When Awami League regime took over the power turnaround time in Chittagong port was 2 days. 18 months into power Awami regime managed to destroy that efficiency and now turnaround time is 5-6 days.

And you indians are proving everyday Awami regime is indian stooge. We dont have to do anything but point out.

::Export Promotion Bureau::

wait .. ill give a report about how BD has progressed in these days.. meanwhile wait a little.

Since you are not in a position to compare BNP and AL rules statistically, i will take time and do it for you..

Be patient .. and continue the bashing.. cheers.
 
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@ idune.. i am taking 2009 as AL's comparison year, please suggest which year of BNP 's year should i compare it with..
 
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::Export Promotion Bureau::

wait .. ill give a report about how BD has progressed in these days.. meanwhile wait a little.

Since you are not in a position to compare BNP and AL rules statistically, i will take time and do it for you..

Be patient .. and continue the bashing.. cheers.

As usual you are acting like an indiot. Even in braod measure of economy GDP declined, garments main export item declined. Manpower export drastically declined. There are few pages on this thread with informative article before you venture into idiotic cheering.
 
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As usual you are acting like an indiot. Even in braod measure of economy GDP declined, garments main export item declined. Manpower export drastically declined. There are few pages on this thread with informative article before you venture into idiotic cheering.

Dont get personnal man.. i never/ never will call something like that.. lets be honest here... i am not asking for incidents, i need the whole comparison. I am sick of you guys coming each and evry time coming to the forum and calling "stooge" stooge" stooge etc . so want to see an end to it through a debate. I dont care if i am in the loosing end, atleast i will have some knowledge about whats happening in my neighbourhood. so co-operate and participate.
 
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Export earnings suffer negative growth in first half of current fiscal
Staff Correspondent

Exports earnings for the first half of the current fiscal year suffered minus 6.2 per cent growth year-on-year, and totalled at US$ 7.27 billion, Export Promotion Bureau reported on Sunday.

Exporters said that continuation of significant decline on the shipments of readymade garments in December pulled down export growth to minus curve. Shipments of readymade garments still ensure at least three/fourth the country’s entire export earnings.

The garment export earnings for July-December or the first half of the current fiscal amounted to $ 5.59 billion with a minus 7.5 per cent growth over the earnings of the same period of the previous fiscal.

According to the Export Promotion Bureau, readymade garment shipments, in terms of value, declined by 12 per cent year-on-year amounting $ 885 million in December.

The Bangladesh Garment Manufacturers and Exporters Association president Abdus Salam Murshedy said December exports earnings reports should open the eyes of the government on the state of the export industry.

‘With recession easing, there were increasing enquires from importers in the previous two or there months but local manufacturers are suffering from severe energy crisis,’ Salam said.

He sadly referred to dillydallies by the government in providing necessary support to the recession-weakened exporters in restoring the industry’s confidence.

Bangladesh Knitwear Manufacturers and Exporters Association president Fazlul Hoque said December export figures disappointed him and but it was not surprising at all.

‘Local exporters are losing competitiveness continuously,’ said Hoque. He argued that exporters in other competing countries were being able to feed importers with more discounts due to their infrastructural advantages and incentives provided by their governments.

Besides garments, the export promotion bureau report shows, all major export items suffered negative growth in the first six months of the current fiscal.

In terms of value, frozen food shipments declined 18 per cent to $ 221 million, finished leather 7 per cent to $ 98 million and footwear 2 per cent to $ 97 million. In the first six months of the current fiscal, export earnings by jute goods increased by 36 per cent to $ 191 million, raw jute 22 per cent to $ 96 million and bicycle 32 per cent to $ 52 million.

Business
 
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Overseas employment in Feb worst in five years
Experts warn of impending disaster

Mashiur Rahaman

The country's overseas employment in February experienced the worst ever performance in last five years, badly warning of an impending disaster to the largest revenue generating sector, said experts.

In line with drying-up employment opportunities in all major job generating countries, only 27,039 Bangladeshi secured jobs abroad in February 2010, a 38 per cent fall from the corresponding month of 2009, state data revealed.

A total of 43,856 Bangladeshi nationals secured their employment in various countries in February 2009.

"Overseas employment scenario in February 2010 was the worst in last five years since the country emerged as the prime source of workforce across the world," a high official of the state-run Bureau of Manpower, Employment and Training (BMET) said.

"It was even 20 per cent less than the previous month (January 2010)," the official said.

According to monthly overseas employment record, none of the country's prime job destinations - the UAE, Saudi Arabia, Qatar, Bahrain, Singapore - came up with positive growth in February.

"When the global economy is retrieving from the damage of financial recession, particu-larly in the Gulf States, such a sad performance is the warning of a major disaster ahead," experts related to the manpower exporting industry opined.

The country's manpower exporting sector is now focussed on a single country, which in turn, has pushed it in a volatile situation, joint secretary general of Bangladesh Association of International Recruiting Agencies (BAIRA) Shameem Ahmed Chowdhury Noman told the FE.

He analysed the February's downfall as an outcome of this odd situation.

"Employment in the oil-rich UAE has been the 80 per cent contributor to total Bangladeshi overseas recruitment. Recruitment sloth there results in our worst monthly performance since many years, Mr Noman added.

Ministry of Expatriates' Welfare and Overseas Employment record shows that the country's overseas employment in 2009 was 4,75,278, a 46 per cent fall from the previous year. Despite the negative trend, the sector earned US$9.85 billion remittance by the end of 2009

Overseas employment in Feb worst in five years
 
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‘Country set to lose $2b RMG market, 3 lakh jobs’

Khawaza Main Uddin

The country is set to lose an opportunity to create 3 lakh jobs due to decline in readymade garment exports this fiscal, believes an apparel sector leader.

Bangladesh is likely to lose $2 billion or Tk 13,000 crore in export value compared to its market share last year, Anwar-Ul-Alam Chowdhury Parvez, a former president of Bangladesh Garment Manufacturers and Exporters Association, said analysing the export trends.Apparel exports dropped 13.82 per cent in knitwear and 16.13 per cent in woven garments in the six months of the fiscal, official statistics show.

‘A 16 per cent negative growth would mean a loss of 300,000 employment directly and a million jobs indirectly,’ he said during an interaction with a group of journalists in the city on Saturday.The decline in garment exports has been attributed to Bangladesh’s loss of competitiveness in the international market plagued by global recession and complacence at the national level that Bangladesh’s exports would not be affected.

‘Bangladesh’s rivals such as China, India, Vietnam and Cambodia have attained a positive export growth. All these countries excepting Bangladesh have cut per unit price of garments to retain their market shares,’ Parvez noted.

In their bid to tackle the impacts of recession, China cut per unit price by 12.44 per cent, India 4.68 per cent, Vietnam 12.42 per cent and Cambodia 6.59 per cent between January and December 2008.

Bangladeshi exporters, who offered the lowest price so far, rather increased per unit price by 2.32 per cent. After the price readjustments, their comparative per unit price stands at $2.36 for Bangladesh, $2.45 for Cambodia, $2.68 for China, $3.07 for India and $2.91 for Vietnam.

‘Bangladeshi manufacturers could not reduce the price because they did not get the support that exporters of other countries are offered by their governments. Moreover, energy crisis has increased the cost of production,’ said the business leader.

He gave an estimate that the garment exporters would have slashed price by 2-3 per cent, had the government agreed to spend $210 million overall to support them.The Bangladesh government, in its stimulus package for export sectors, announced support such as interest rate cut, loan rescheduling facilities and waiver of licence fees on captive power plants.

Other countries either devalued their currencies or provided fiscal and financial support for exports to retain the market in the face of challenges of global recession, Parvez pointed out.The finance minister, AMA Muhith, recently said the government would review the situation and consider if it would continue the stimulus package for export-oriented industries in the next fiscal.

Business
 
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BD eyes $15bn textile exports by 2011

DHAKA, Sept 2: Bangladesh manufacturers forecast on Saturday that textile exports would double to more than $15 billion in five years as the country profits from a quota-free global trade regime.

Textile exports posted a record 24pc increase to $7.9 billion in the year ended June 30, as manufacturers' prices proved highly competitive under the quota-free regime launched on January 1, 2005.

“Last year we had tremendous growth. The quota-free textile regime has proved to be a big boost for our factories,” said Fazlul Hoque, president of the Bangladesh Garments Manufacturers and Exporters Association.

“We're confident we can now keep the growth momentum intact and double our exports to more than $15 billion in the next five years,” he told reporters in Dhaka.

Bangladesh textile factories were initially written off as a sector headed for disaster after the withdrawal of quotas that had given its exports guaranteed access to major markets like the United States.

Multinational financial institutions like the World Bank and IMF had said the country faced more than a 30 per cent drop in exports in the first year after quota withdrawal because it was feared the industry was not sufficiently developed to compete on a global scale.

They also predicted massive social chaos from a fall in export trade as garment factories account for 40 per cent of the country's industrial jobs. —AFP

BD eyes $15bn textile exports by 2011 -DAWN - Business; September 03, 2006
 
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Jute export booms

The country's export earning from jute goods increased by 70 percent and that from raw jute went up by 44 percent during the first nine months of the current fiscal year.

The earning from jute goods during July-April period of FY 2009-10 stood at $377.09 million compared to $222.05 million during the corresponding period of FY 2008-09, says the Export Promotion Bureau (EPB).

And $170.41 million was earned from raw jute export during July-April of this fiscal year against $118.39 million during the corresponding period of the previous year, according to EPB estimates.

The earning went up due to increased price and volume of export.

According to Bangladesh Jute Mills Corporation (BJMC), export price of jute goods and raw jute rose by around 35 percent this fiscal year over that last year.

"BJMC's export this year is already 1.35 lakh tonnes while it was only 90,000 tonnes last year," a senior official of the state-owned BJMC told The Daily Star.

Private sector export of jute goods also rose, he said.

Moreover, price of raw jute in domestic market was Tk 1,000 to Tk 1,400 per maund during the peak harvest period last year. But this year the price is already Tk 1,800 -2400 per maund , said Bangladesh Jute Mills Association (BJMA) Secretary Abdul Barik Khan.

Sources in the Department of Agriculture Extension say this year jute is cultivated on more than five lakh hectares which is 50,000 hectares more than in the previous year. And production would be about 55 lakh bales against 49.70 lakh bales last year.

Contacted, Jute Minister Abdul Latif Siddique said, "We see a bright future of jute." Decoding of jute genome by Bangladeshi scientists has also paved the way for higher productivity and quality of jute, he added.

Meanwhile, the government gave Tk 300 crore to the BJMC to buy raw jute as its mills had liquidity crisis.

"Until June, BJMC mills don't have any problems for raw jute, but it is facing problems for power outages," said a top BJMC official.

The 16 BJMC mills now produce 475 tonnes of jute goods a day, which could be more than 600 tonnes if continued power supply was ensured, he said.

The BJMA secretary said they are upbeat about this sector as the government is providing loan facilities. "With credit facilities, jute mills can do amazing things." He however said frequent power outage worries them.

Thirteen of the 92 BJMA mills are now closed while many run partially due to fund crunch and power crisis, he said. Production capacity of BJMA mills now is 20,000 tonnes a month but their present production is around 13,000 tonnes.

The jute minister said the government has directed the state-owned banks to disburse loans to both private and public sector jute mills by July 15 so that middlemen cannot manipulate the market.

In reply to a question, he said, "Power crisis is a common problem. It will be solved nationally in a year or two."

He went on, "We don't want to export raw jute. We want to add value to it and create job opportunities locally.
Jute export booms
 
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Here is digital propaganda cheered by indians

Bangladesh improves investment situation despite the global economic meltdown | gurumia.com[/url]

And here is the true picture in investment:

FDI flow falls by 66pc in 7 months

Monira Munni

The flow of foreign direct investment (FDI) recorded a 66 per cent fall in the first seven months of the current fiscal due to global recession.

This was revealed by the central bank in its monthly update.

During July to January period of 2009-10 fiscal, the country received only US$228 million in FDI against $662 million during the same period of the 2008-09 fiscal, Bangladesh Bank (BB) data showed.

"The FDI flow drastically fell during the period due to the global meltdown that had hit different countries including Bangladesh," a senior BB official told the FE Monday.

Besides, acute shortage of gas and electricity in the country also contributed to cut FDI inflow to a great extent, the official added.

"Due to global recession our domestic investment is picking up slowly," said Zaith Bakth, research director of Bangladesh Institute of Development Studies (BIDS).

Moreover, the country's infrastructure facilities, including gas and electricity supply, are not favourable for our domestic as well as foreign investment, he also said.

Unless the government takes quick and effective measures for infrastructure development and gas exploration, there is little hope of increasing FDI in Bangladesh, he added.

However, the BB official expressed the hope that the FDI flow might rise in the coming months due to recovery of major global economies.

FDI flow falls by 66pc in 7 months
 
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