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Political unrest blamed for shortfall in tax collection

National Board of Revenue (NBR) has failed to achieve the revised target of income tax for 2013-14 fiscal for the first time in last four years, reports UNB. The shortfall in income tax collection is around Tk 1000 crore, NBR sources said Wednesday speaking on condition of anonymity. The sources blamed the failure on the unprecedented political violence during the ... Read More »

‘Faltu’ and ‘Badi Alam’ cycles control Ctg port: TIB

businessnews24bd.com A study of Transparency International Bangladesh (TIB) has found that Chittagong port is being controlled by  two cycles named ‘Faltu’ and ‘Badi Alam’ who are involved in transacting money in different stages of customs regularly defying the rules and regulations. The non-governmental corruption watchdog came up with the disclosure by a report of their study titled “Chittagong Port and ... Read More »

India unveils ‘budget for growth’

BBC Online India’s new government is promising to bring back higher growth, with a budget including more scope for foreign investment, spending on infrastructure and a goods and services tax (GST). The finance minister also indicated there were plans to limit expensive but popular subsidies on food and fuel. India’s economy has slowed in recent years, growing by 4.7% in ... Read More »

68 migrant workers return from Oman

businessnews24bd.com A total of 68 migrant workers, who were reportedly deported by the Omani authorities, have returned to Bangladesh from Oman on Friday morning. A Bangladesh Biman flight carrying the migrant workers, whose work visas had reportedly expired, landed at Hazrat Shahjalal International Airport in the capital around 8am. Expatriate Welfare Director at Airport Zahidul Islam confirmed about the arrival ... Read More »

World Population Day being observed

businessnews24bd.com The World Population Day is being observed today (Friday) with ‘Investing in young people’` as this year`s theme. Elaborate programmes have been taken to observe the day in Bangladesh. President Advocate Abdul Hamid and Prime Minister Sheikh Hasina have given n separate messages marking the day. The President said that the youths were the future of the country and ... Read More »

Draft of EPZ Labour Law, 2014 gets cabinet nod

businessnews24bd.com The cabinet today approved in principle the draft of “The Bangladesh Export Processing Zone (EPZ) Labour Law, 2014″ keeping a provision for constitution of organizations by the EPZ workers. The approval was given at the regular cabinet meeting held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair. Briefing reporters after the meeting, Cabinet Secretary M Musharraf ... Read More »

Benapole revenue target fails

Benpole Land Port’s revenue has fallen short of target by about Tk 1.20 billion in the just-concluded fiscal, reports bdnews24.com Tk 24.80 billion has been collected against a target of Tk 26 billion set by the National Board of Revenue for the 2013-14 fiscal, said Golam Kibria, an official at Benapole Customs. Businessmen attributed the shortfall to corruption, harassment, theft, ... Read More »

Muhith blasts media for report on money whitening

businessnews24bd.com In a fresh twist of statement, the finance minister today said the government is not offering any scope to legalise black money in the new fiscal year. “The real estate sector will get the opportunity through the payment of fine as per law,” Muhith said while talking to reporters the Economic Relations Division (ERD) office at Sher-e-Bangla Nagar in ... Read More »

Tk.485.28 cr KCC budget announced

Khulna Correspondent Khulna City Corporation (KCC) on Sunday (today) announced a Tk. 485.28 crore budget for 2014-15 fiscal year. KCC Mayor Moniruzzaman Mony announced the annual budget at a press conference at the Shaheed Altaf Auditorium at the city building. He said, no new tax has been imposed on the proposed budget, but tax on extended part of the previous ... Read More »

NU approves Tk 143.68 cr budget

businessnews24bd.com The National University Senate on Saturday approved  Tk 143.68 crore development budget for fiscal 2014-15. The budget was approved by the Senate at its 16th meeting, chaired by National University vice-chancellor Prof Harun-or-Rashid. The NU vice-chancellor in his budget speech said the main challenge for them will be to resolve the session jam as well as ensure quality education. ... Read More »