Bangladesh heading for fastest economic growth in FY17

[Mage]

Absolutely cooking the book up to promulgate absolute bull and dog shyte. I'VE almost daily based contact with many different types of people of BD. Previous progressive/hard working middle class has almost been wiped out by current Dalals to give a consumption based/newly developed capitalist's one, who are jacking up the price of goods thus putting extra ordinary pressure on poor and creating ultimate class struggle over there.


Before calling other liars, first learn if UR parents are BDeshi or fake one, understand. During the 1st quarter of 2006, the top quality rice was TK 26.00 P/K whereas medium quality's one was around TK. 16.00 P/K. Go check it out.

Then show me a chart of commodity prices in 2006 and 2017

 

[M_Saint]

Then show me a chart of commodity prices in 2006 and 2017

Burden of proof lies on U not me since U have objected without checking the fact sheet first. On the top of that, my words are more truthful than dalal media's dissemination since I get it by talking directly and there is hardly any neutral one left over in BD under fascist thugs.

 

[TopCat]

Then show me a chart of commodity prices in 2006 and 2017

For higher growth rate you need a reasonable inflation in the range of 4-6%. With that kind of inflation any commodity price should double in 10 years. I think AL did great in this subject. Look at the vegetable market now. Most of them are sold average 20tk/Kg. Land price in Dhaka came down 30% in the last 10 years.

 

[bluesky]

Most of them are sold average 20tk/Kg. Land price in Dhaka came down 30% in the last 10 years.

Why the land prices came down at all or by 30%? By the law of inflation, it should also up and the value of money go down. What really happened?

 

[TopCat]

Why the land prices came down at all or by 30%? By the law of inflation, it should also up and the value of money go down. What really happened?

Few things happened.
1) Right after coming to power AL squeezed the bank to not to issue credit to high risk commercial flat and a consumer must have enough equity to avail the loan. It was done to stop any bubble in the market. Bank also cant directly finance land purchases.
2) Few projects like purbachal and jhilmil also came online which reduces the demand drastically in the existing meager land.
3) Development in the smaller district encouraged the people to build houses there.
4) Removing the upper limit of the high rises in Dhaka also helped.

 

[Banglar Bir]

Few things happened.
1) Right after coming to power AL squeezed the bank to not to issue credit to high risk commercial flat and a consumer must have enough equity to avail to loan. It was done to stop any bubble in them market. Bank also cant directly finance land purchases.
2) Few projects like purbachal and jhilmil also came online which reduces the demand drastically in the existing meager land.
3) Development in the smaller district encouraged the people to build houses there.
4) Removing the upper limit of the high rises in Dhaka also helped.

If my assumptions are correct, you are only referring to the Real Estate sector,that to in the Urban areas,not depicting the overall economic scenario inclusive of the vast Rural belt.

Cost of living Index is not so simple, it encompasses an array of other related basic living necessities. Patience, for a few months,wouldn't hurt, when the overall picture will be depicted by reputed various international agencies.

Remember for a low/medium economy initial acceleration is very rapid, however for a developed economy the growth rate really is insignificant, could be stagnant or even negative. That's the bottom line of all economic theories.

 

[Bilal9]

Few things happened.
1) Right after coming to power AL squeezed the bank to not to issue credit to high risk commercial flat and a consumer must have enough equity to avail to loan. It was done to stop any bubble in them market. Bank also cant directly finance land purchases.
2) Few projects like purbachal and jhilmil also came online which reduces the demand drastically in the existing meager land.
3) Development in the smaller district encouraged the people to build houses there.
4) Removing the upper limit of the high rises in Dhaka also helped.

As road communication eases up and gets safer because of efficient public transport, speeds will increase on roads, making more suburban area like Purbachal feasible as bedroom communities to commute to - from the city center and commercial hubs of Banani, Dhanmandi, Karwan Bazaar and Motijheel.

 

[Banglar Bir]

NB London

বন্ধুবর,
IMF, WB, EU, বা অন্য যারা এই মানদন্ড তৈরী করে তাদের পরিমাপ যন্ত্র যতই শুদ্ধ হোক - এখানে আমাদের উন্নয়নের চিত্র দেখে আমাদের দেশের প্রকৃত জনগনের চেহারার সাথে কেন যেন মিলেনা। এই পরিসংখ্যান কিছুটা শান্তি দিলেই স্বস্তি দেয়না। ৪৬ বছরে আমাদের অনেক উন্নতি হয়েছে, কিন্তু এই ভেবে আনন্দিত হতে পারছিনা, আর্থ সামাজিক উন্নয়ন চোখে পরার মত হলেও সুশাসন, রাজনৈতিক দশ্যুতা আর লাগামহীন দুর্নীতি কমে গেলে অনেক খুশী হতাম।

হতাশাবাদী মানুষ আমি নই, উন্নয়নের শুরু যখন হয়েছে এইগুলিও ঠিক হবে। দেশের জন্য জীবন বাজি রেখে যুদ্ধ করেছি, নিজে চোখে দেখে যেতে পারলে ভালো লাগতে যে "আমাদের দেশের মানুষ ভালো আছে"।

 

[Mage]

Burden of proof lies on U not me since U have objected without checking the fact sheet first. On the top of that, my words are more truthful than dalal media's dissemination since I get it by talking directly and there is hardly any neutral one left over in BD under fascist thugs.

You are the one who made the claim. Its up to you to put some weight behind it. Show some documents if you can. Otherwise you better gtfo

Btw @M_Saint you tell me what is Bangladesh's GDP per capita income now. Has it fallen behind USD200?

 

[TopCat]

Remember for a low/medium economy initial acceleration is very rapid, however for a developed economy the growth rate really is insignificant, could be stagnant or even negative. That's the bottom line of all economic theories.

It depends. I dont know if you missed the conversation sometimes last year.
We have korean model and we have ASEAN model in our hand. If you look deeply you will see that Korean model succeeded to break the upper income ceiling whereas ASEAN could not despite having a very high momentum at the beginning. Next we have Chinese model which is even stronger than Korean model.

Now the question is in which model we are currently sailing. It is certainly not ASEAN model but its not even a genuine korean model. In capital formation side it is more in line with Korea but in technology investment it is more like Africa. But things are changing as it seems. We got 3rd biggest ADP allocation in this year under Science and Technology ministry. But we have a long a way to go and govt must start investing in R&D in defense hardware. The technology will eventually transferred to private sectors.

 

[idune]

Few things happened.
1) Right after coming to power AL squeezed the bank to not to issue credit to high risk commercial flat and a consumer must have enough equity to avail the loan. It was done to stop any bubble in the market. Bank also cant directly finance land purchases.
2) Few projects like purbachal and jhilmil also came online which reduces the demand drastically in the existing meager land.
3) Development in the smaller district encouraged the people to build houses there.
4) Removing the upper limit of the high rises in Dhaka also helped.

you are dishing out bunch of bs and very conveniently masking the real facts,
1) awami league looted the stock market that crashed the real estate and construction sector.
2) awami league squeezed the lending and investment and given subsidy for rental power plants. Which by the way owned by awami league looters.

and more .....

 

[riasat]

you are dishing out bunch of bs and very conveniently masking the real facts,
1) awami league looted the stock market that crashed the real estate and construction sector.
2) awami league squeeze the lending and investment and give subsidy for rental power plants. Which by the way owned by awami league looters.

and more .....

Awami league stopped the provision where a person could invest his/her black money in real-estate and make it white!! That is what caused the real estate demand to drop.... Why do you want people to have black money???

How did Awami-league loot the stock market? Would you care to explain?? For Awamileague to be responsible, it has to be one of government policies that crashed the market, so what policy was it?
As an investor, you just dont buy stocks 2 or 3 times the price of its original value based on a whim.. in order to be a good investor you must know how to check the books and understand the numbers... in Bangladesh a lot of the small investors has no idea about any financial markers.

Rental power plant was a short term fix which was tried unsuccessfully by even your brother country like Pakistan. Where Pakistan failed massively due to its circular debt, Bangladesh was successful. Power production has been the biggest success of AL weather u accept it or not.

Are the power plant investors AL men? May be, but atleast they produced power and delivered it to people instead of building khambas.

 

[idune]

Rental power plant was a short term fix which was tried unsuccessfully by even your brother country like Pakistan. Where Pakistan failed massively due to its circular debt, Bangladesh was successful. Power production has been the biggest success of AL weather u accept it or not.

each one of your awami cheer leading lie will be answered, starting with rental power plants.
awami league could not even produce power until 4th year. Awami league could not generate any significant amount of power until end of its 5 year tenure. But Awami league spent 1/3rd tax revenue, sacrificed economic growth,millions of jobs, introduced high inflation for good part of its 8 years in power come to this. BNP on the other hand was in power only for 5 years and did not loot 1/3rd of govt tax revenue, in the name of quick rental power.

Where has all the electricity gone?
M. A. Taslim
In order to make the rental plants sufficiently lucrative to the private players, the government had to provide sovereign guarantees regarding prices at which fuel oil would be supplied to the plant operators, and electricity would be purchased by the government. Since very large gaps have emerged between the guaranteed prices and the prices paid or received by the government, the rental plants have to be provided with enormous amounts in subsidies. It is estimated that during the current fiscal year subsidy payments to the rental power plants might exceed Tk320 billion, i.e. about one-third of the total tax revenue of the government.

This enormous subsidy requirement has put the government finances in a quandary, which has been further intensified by the drying up of expected foreign funds due to difficulties on the foreign policy front. The government was forced to take the unprecedented step to shift part of the current subsidy to the next budget. This may open up a new door to further mismanagement of the economy.


Much hope was pinned on the government's resolve to quickly overcome power shortages. However, within three years the hopes have transmuted into frustration. In attempting to solve a nagging problem, the government seems to have created several more. The hapless people will be forced to bear the consequences of the blunder of their government; they have reasons to be angry.

(The writer is Professor and Chairman, Department of Economics, University of Dhaka.)

http://print.thefinancialexpress-bd.com/old/more.php?news_id=125664&date=2012-04-05

-----------
More rental plants on cards despite fuel crisis
It looks like an insensitive decision; former adviser of the caretaker government Dr Mirza Azizul Islam said about the move pointing to the macroeconomic destabilization that may be arising out of the soaring import bills for oil in one hand and the surging subsidies on the other.

The very fact is that the government is buying fuel at a higher cost and supplying to the rental power plants at a highly subsidised rates thus increasingly forcing the public to bear the burden of cost.

The government is moreover buying electricity from these plants at a soaring rate to sell it to the public at a lower rate, again forcing the public to pay for the loss. The transfer of such billing loads on the public is taking place with frequent increase of the electricity tariff along with upward price adjustment in the prices of fuel.

The government is again paying for the unutilised capacity of the rental power plants as and when the authorities are failing to supply them with necessary fuel, and this is how the rental power plants have appeared as a critical issue having devastating impact on the nation’s macroeconomic fundamentals.

http://www.weeklyholiday.net/Homepage/Pages/UserHome.aspx?ID=2&date=06/22/2012

 

[Nilgiri]

Absolutely cooking the book up to promulgate absolute bull and dog shyte. I'VE almost daily based contact with many different types of people of BD. Previous progressive/hard working middle class has almost been wiped out by current Dalals to give a consumption based/newly developed capitalist's one, who are jacking up the price of goods thus putting extra ordinary pressure on poor and creating ultimate class struggle over there.


Before calling other liars, first learn if UR parents are BDeshi or fake one, understand? During the 1st quarter of 2006, the top quality rice was TK 26.00 P/K whereas medium quality's one was around TK. 16.00 P/K. Go check it out.

Dude I don't like BBS overall (ask anyone here), but I would defer to them for this data collection. They collect way more data points than any one person like you can do so.

 

[idune]

High-profile scams propel country into financial mire : Scams keep taking place as no timely action taken in past: experts
Saturday, 08 September 2012

A series of high-profile financial scams coupled with alleged misappropriation of public find through controversial rental power plants are leading the country to financial ‘bankruptcy,’ experts said.
Available public data say that around Tk 30,000 crore has been misappropriated alone in three cases — share market collapse, illegal banking activities by Destiny Multipurpose Society Limited and the recently-in-focus Hallmark Group scam in the state-owned Sonali Bank.

Moreover, purchase of electricity from the privately owned plants at an average rate of Tk 17 cost the public exchequer Tk 32,000 crore in subsidy in the past financial year.

[Awami league looting using rental power plant]
Influential figures of the ruling party who set up the plants are mostly benefited from the exorbitant rate, said economist Anu Muhammad, also a leader of the national committee to protect oil, gas, mineral resources, power and ports.
Experts said that the misappropriation of public fund in the power sector was delicate but the embezzlement of fund in the financial sector was shocking.

[Stock market looting by awami league]
They said that such misappropriation continued happening as no governments in the past had taken any timely action against such matters.
The share market scam of 2010 rendered hundreds of thousands of marginal investors penniless. Retail investors lost at least Tk 20,000 crore to dishonest traders who were in collusion with stock market regulators, according to a government investigation.

[Awami League Sonali bank looting]
The biggest state-owned commercial bank Sonali Bank is now tottering in the wake of the single largest swindle of about Tk 3,600 crore by the Hallmark Group and five other companies.

[Awami league looting using Destiny group]
The Destiny Multipurpose Cooperative Society Ltd has been involved in illegal banking throughout the country and has misappropriated at least Tk 5,000 crore.
They said that such gross financial embezzlement, in an impoverished country like Bangladesh, is possible only because of the collusion between greedy businessmen, politicians and government officials.

Transparency International Bangladesh’s executive director Iftekharuzzaman told New Age that the state is being at the diktats of a section of very powerful people who are patronising crooked businessmen. ‘This is leading the country to a state of bankruptcy,’ he said. The TIB chief pointed out that failure by the successive governments to bring the culprits to the book was the main reason behind the continuation of huge financial scams.

[Awami League stock market looting and involvement]
Iftekharuzzaman pointed out that the present government did not do anything to punish the persons identified as being involved in the huge share market scam as per the findings of a probe body.
Bangladesh Bank’s former deputy governor Ibrahim Khaled was appointed by the government to lead the probe body after the worst-ever collapse of the capital market. The DGEN, the key index of the share market, lost 21 per cent in one month between December 2101 and January 2011, allowing the market manipulators to pocket about Tk 50 billion in just one month.
Ibrahim Khaled said the government has not taken any action against the guilty parties.

No doubt they are powerful, but they are not stronger than the government, he said, adding the investors have lost confidence because of the government’s inaction. The DGEN continued its fall through 2011 and is now hovering at around 4,000 points from close to 8,900 points during the October-November period in 2010.

Destiny, a multi-level marketing company, was collecting savings from its members despite repeated objections by officials of the Bangladesh Bank. But for some inexplicable reason the officials failed to take timely action by freezing the suspected bank accounts and allowed Destiny’s executives to withdraw more than Tk 40 billion early this year.
Destiny used to keep many high officials in its pay-roll in order to do its illegal business uninterruptedly for the last 10 years. Former army chief and war hero, Lieutenant General (retired) Harunur Rashid, is the group’s president.

With the Destiny issue still remaining unresolved, Hallmark Group’s scam rocked the whole financial sector. The group and its five shady sister concerns embezzled Tk 3,547 crore from Sonali Bank’s Ruposhi Bangla Hotel branch between 2010 and May this year by using fake documents.
Of the Tk 3,547 crore, Hallmark Group alone took away Tk 2,686.14 crore, T and Brothers Tk 609.69 crore, Paragon Group Tk 146.60 crore, Nakshi Knit Tk 66.36 crore, DN Sports Tk 33.25 crore and Khanjahan Ali Tk 4.96 crore.
White collar crime like bank loan default has been persisting under successive governments once it began in the 1980s during the era of dictator HM Ershad.
But the swindles in the financial sector under the Awami League government have eclipsed all the previous ones.
‘The incidence of financial crimes in recent years is higher than those of the previous years,’ said the Anti-corruption Commission’s chairman, Ghulam Rahman.
He told New Age on last week that regulatory and administrative bodies have completely failed to perform their duty.
‘Things have worsened further because of the slowness of the existing judicial system,’ he added, indicating the time-consuming investigation and trial process which is often marred by political intervention

http://www.newagebd.com/detail.php?date=2012-09-08&nid=22980