Let's ride on two giants

Prof Yunus spurs country to cash in on ever-growing China, India

Nobel Laureate Prof Muhammad Yunus speaks at the closing ceremony of Odommo Chattagram festival in Chittagong yesterday evening. Photo: Anurup Kanti DasStaff Correspondent

Bangladesh's future depends on a world-class seaport and a technology savvy young generation who would drive the country into a new global order in less than two decades, said Nobel Laureate Muhammad Yunus yesterday.

Bangladesh must be prepared for 2030 when the world order would change dramatically, he said.

He said China and India would become the world's largest and second largest economies respectively by that time. If Bangladesh can turn Chittagong seaport into a world class one, the country would develop in line with India and China, he added.

"Bangladesh lies between these two giants and we have to take the advantage of it," he said while addressing the closing ceremony of The Daily Star's 12-day long Odommo Chattagram festival in the auditorium of the Institute of Engineers in Chittagong city.

These two countries will create a lot of demand for goods and services of skilled professionals, and Bangladesh should be poised to supply that, Yunus said.

"If we cannot take the chance, others will come in," he cautioned.

The microcredit guru cited the example of Haiti that is located very close to the world's largest economy, the US, but cannot take any advantage of it due to political turmoil.

"Education, technology and the youths will be the drivers of 2030 Bangladesh," Yunus said.

The Nobel laureate said opening up of Myanmar created another advantage for Bangladesh for that country's natural resources and for the historical relations between the two countries.

He also said he wants to see Myanmar in Saarc as soon as possible. "Myanmar can set up a link between Saarc and Asean," he pointed out. He urged Bangladeshis, particularly Chittagonians, to build relations with Myanmar.

Yunus said many countries, especially the neighbouring ones, want to use the Chittagong port. He named north-eastern states of India, Nepal, Bhutan, Myanmar and China.

"So the port must be prepared to serve not only 16 crore Bangladeshis, but also another 16 crore of the region," he said.

Yunus, now known as the social business pioneer, said United Arab Emirates, which is a desert country, was applauded for its excellent capacity of port development and management.

"We have to take such a responsibility and learn port management," he said.

He termed the present Chittagong port a very small one that cannot handle any mother vessel.

About the youths, he said they would drive the country into a bright future. But it would not happen unless they were educated about technology, he noted.

"Will we clean the roads and furniture in foreign countries or will we do expert jobs?" he questioned.

Yunus said Bangladesh has to arrange quality higher educational institutions like the Asian University for Women in Chittagong.

He said he has high hopes for the Bangladeshi youths who have the potential to take the country into a new era of development.

"Now we should take initiatives to know how the youths want to see Bangladesh in 2030," he said.

"Chittagonians are naturally entrepreneurs, and we have to use their skills," he noted.

He thanked The Daily star for organising such an event in Chittagong and asked the editor of the newspaper to replicate the concept in other parts of the country.

The Daily Star Editor and Publisher Mahfuz Anam said he initiated Odommo Chattagram festival to help the policymakers look into issues beyond Dhaka city.

Dhaka-centric activities are not helping Bangladesh to grow as a nation, he said.

Mahfuz said Chittagong has an immense potential to grow, and the policymakers and private sector should prioritise its development.

"We all should demand Chittagong's development," he said. "We found that electricity is a big problem in Chittagong. Let us discuss more and take the suggestions to the government for solutions," he added.

The Daily Star at the ceremony yesterday honoured 56 persons posthumously, and 19 living persons and two enterprises for their contributions to Chittagong's development.

Women Entrepreneurs' Chamber, Chittagong Chamber of Commerce and Industry, and Bangladesh Garment Manufacturers and Exporters Association, Chittagong received special awards.

Chakma king, Debashish Roy, thanked The Daily Star for the initiative.

The festival closed with traditional local dances, folk songs, and a short play.

Abul Momen, resident editor, Prothom Alo in Chittagong, moderated the programme.

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Road blocked as schoolboy dies in accident

Transport movement on Dhaka-Munshiganj road remains suspended since Wednesday morning following death of a school boy in Munshiganj town.

Sharif Hossain, 14, a Class-V student of Indrakpur Primary School was crushed under the wheels of a bus on his way to school around 7:15am, reports our Munshiganj correspondent.

The barricade was going on till 10:45am when this report was filed.

Angry locals also vandalised two vehicles and set fire to the bus that killed the boy.

Abul Bashar, officer-in-charge (OC) of Munshiganj Sadar Police Station, said angry locals put barricades on the road around 7:30am and vandalised two vehicles when a Dhaka-bound bus of Inter-district Bus Owners' Association hit Sharif near Krishi Bank square of the town.

Sharif, a son of one Samiruddin Milky of Nayagaon village of the town, was going to school riding a bicycle.

Immediately after the accident, locals managed to catch the driver of the bus and handed him over to police after a good beating, the OC said.

They also set ablaze the bus, the police officer added.

The locals later brought out a rally in the town demanding punishment of the driver.

Ayub Ali, the helper of the bus, was driving the vehicle in absence of its driver, the OC said. 

[The Daily Star]

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BAF flying officer killed

An expert team of armed forces inspects the wreckage of BAF training aircraft L-39 that crashed at Madhupur in Tangail on Sunday, killing a flying officer. sun photo

Training Aircraft Crashes into Tangail CroplandA flying officer was killed and a trainee pilot injured as a training aircraft of Bangladesh Air Force crashed into a cropland at Madhupur in Tangail district Sunday, in an unfortunate recurrence of such tragedy.

Inter-Services Public Relations (ISPR) sources confirmed the plane-crash incident, saying that flying officer Reza Sharif succumbed to his injuries after he was admitted to the Combined Military Hospital (CMH) at Ghatail cantonment around 2:45pm.

The injured pilot, Squadron Leader Mamunur Rashid, was undergoing treatment at the Combined Military Hospital in Dhaka, BAF sources said.

Civil Aviation Authority of Bangladesh (Caab) sources said the training aircraft L-39 carrying the two officers took off from Kurmitola Airport in the capital around 12:30pm.

The trainer light-attack aircraft nosedived into a paddy field at Mahishmara village under Madhupur upazila in Tangail 15 minutes after its takeoff, the sources said, citing mechanical breakdown as the cause

“The accident might have taken place due to technical fault,” a Caab official told daily sun, quoting BAF officials.

Aminul Islam, officer-in-charge (OC) of Madhupur police station, said police and firefighters rushed to the spot after getting information and launched a rescue operation with the help of local people.

They rescued Squadron Leader Mamunur Rashid and flying officer Reza Sharif with critical injuries and sent them to Madhupur Upazila Health Complex immediately, the OC added.

Later, the two were shifted to the CMH at Ghatail for better treatment where Reza Sharif succumbed to his injuries about 2:45pm, said Ekhlas Uddin, warrant officer of Bangladesh Air Force. Mamunur Rashid was shifted to the CMH in Dhaka, he added.

“Mamun is now out of danger as he sustained some cuts and bruises only,” the warrant officer said.

MA Masud, additional superintendent of police in Tangail, told daily sun that high officials of Bangladesh Air Force, Bangladesh Army as well as district and police administrations visited the spot. The officials concerned said a three-member inquiry committee comprising BAF officials was formed to investigate the latest air crash.

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Oust-govt movement from Jun 11 rally: Khaleda warns

Wants CG restoration bill passed by Jun 10 deadlineOpposition leader Khaleda Zia Sunday warned the government that if the scrapped system of caretaker government was not restored within the given ultimatum, they might be compelled to launch an “oust-government” campaign.

“We may have to launch a one-point movement for unseating the government from a rally in Dhaka on June 11 if it does not pass a bill in parliament to restore the caretaker government by June 10,” she said, a day after the prime minister rejected her plea.

The BNP chairperson and ex-PM reaffirmed the deadline while addressing the national executive committee meeting of her party at the Institute of Diploma Engineers, Bangladesh in the capital.

The government amended the constitution through the 15th amendment before receiving the full Supreme Court verdict as the short verdict observed that the next two parliamentary polls could be held under the caretaker-government system, she alleged.

“When we assume office, we will scrap the amendment to the constitution,” she told her party leaders at the top forum.

The BNP chief reiterated that her party including the other political parties will not take part in any elections under a partisan government.

People of the country also not allow elections under a partisan government, she noted.

Portraying a gloomy picture of the country’s economy, sovereignty and law and order situation, Khaleda said the government has brought the country on the verge of destruction.

Hinting at the expansion of the BNP-led four-party alliances, Khaleda said some major political parties along with some small ones have already talked to BNP to join the movement.

The government is gradually becoming friendless, she said condemning it for its three-year misrule and misdeeds.

The price of electricity has been raised four times in last one year, she said adding that World Bank and other international donor agencies have stopped funding due to the corruption of the government.

BNP is planning to go for a vigorous movement when their 90-day ultimatum to the government ends on June 10.

Party’s Acting Secretary-General Mirza Fakhrul Islam Alamgir gave the welcome address while Joint Secretary General Ruhul Kabir Rizvi adopted a condolence motion at the meeting.

About 60 members spoke at the meeting.

Executive committee meeting is the only forum where the grassroots leaders can express their views in front of Chairperson Khaleda Zia.

Some of the members suggested that BNP should take part in the DCC polls while other said it is high time that the opposition strike the government hard.

The meeting started at around 10.30am. The closed-door session was in progress before filing of the report.

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New banking licences recipe for disaster

Dhaka, Apr 7: The government decision to issue fresh banking licences may destabilise the banking sector, and public deposits worth thousands of crores of taka might be at stake, as the move would trigger unhealthy competition among new banks. Leading economists and money market experts expressed this view to The Independent, strongly suggesting that Tk. 15,000 crore available with the sponsors of the proposed 37 banks should be invested in productive sectors.
Bangladesh Bank, on Wednesday, had provided licences to two new NRB banks and had said the rest of the licences would be awarded after scrutinising the 16 short-listed applications on Sunday.
Dr Mirza Azizul Islam, former finance adviser to the caretaker government, said that at present the deposit demand ratio was negative and time-deposit accounted for less than 3 per cent of all forms of deposit.
“So, when the inflation rate is more than 10 per cent, the real value of the deposit would erode further. Under the circumstance, the emergence of new banks would create an unhealthy competition in the banking sector and credit would be squeezed, due to the high cost of both deposit and credit,” he explained.
He also noted that after collecting deposits at a high rate, in an already saturated market, the banks would be compelled to go for risky investments, with the money raised from the general public.
Former central bank governor, Dr Salehuddin Ahmed, said the government decision would harm both banking and economy. "This is not a logical decision at all, given the present state of the banking sector," he said.
Economist Dr Debapriya Bhattacharya, of the Centre for Policy Dialogue, said that under the present circumstances, there was no need for new banks.
“Personally, I'm not of the opinion that there should not be any new bank. But, this is not the right time to set up one,” he said, citing three reasons for which providing permission for opening of new banks should not be prudent.
There is scarcity of liquidity and an overstressed portfolio in the banking sector, and there is a lot to be done in terms of oversight functioning, Dr Bhattacharya pointed out.
“The sponsors of new banks have Tk. 15,000 crore in hand. My question is why don’t they invest it in productive sectors?,” he said.
If investing in the industrial sector would get less return than in the banks, then there is a basic fundamental problem with the economy and that needs to be addressed, he said.
Economist Prof. MA Taslim believed that the government did not give much thought to the issue before finalising the decision to provide fresh banking licences, as this was done under political considerations.
“We all know that banks are scrambling for deposits and some banks are facing problems and many are even suggesting merger to overcome the situation. But the government is doing the opposite,” he said.
“In the limited space, more banks would create pressure on deposits and on the overheads of the existing banks. More professional bankers claiming fat salaries would be required for the new banks. And this would push up the overall cost of business, forcing a hike in the lending rates, which would ultimately create an adverse impact on the economy,” he added.
It is now an open secret that the government is providing the new banking licences under political considerations and the applications of those closed to the ruling alliance will be cleared.
Following are the names of the 16 banks, and their key sponsors, that have been short-listed for final approval.
Pharma Ltd, and Belhasa Accom JV Ltd; Self-employment Bank of Mahbuba Kabir, late National Professor Kabir Chowdhury, Prof. Abdul Latif, Prof. Shahin Mahbuba Kabir, Prof. Akhteruzzaman, and Dr Md. Iqbal Mahmud Chowdhury; and Korea-Bangla Bank of Engineer Enamul Haque.

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Free ride on seized cars

Ahamed Ullah and Masum Billah A section of police officials have been using seized vehicles for personal purposes for years instead of keeping those in the evidence store or handing over to the owners, competent sources said.

In a recent investigation by daily sun, it was found out that many police officers, including officer-in-charge (investigation) and sub-inspectors of Joydebpur police station, were driving seized cars.

Abul Kalam Azad, officer-in-charge (investigation) of Joydebpur police station, was using a white private car (Dhaka Metro Kha (12-7164) which was seized from Girani Bazar area of Gazipur on February 9.

Abdul Alim Khan, sub-inspector of the police station, is driving a red private car (Dhaka Metro Bha 11-0085). The car was seized few months back. Three people were also arrested along with a huge quaintly of beer during the seizure.

Rafiqul Islam, another sub-inspector stationed at the police station, is using a car (Dhaka Metro Ga 23-2009) which was seized a year back.

Some motorcycles were also found being used by policemen of the police station.

All the cases filed in connection with the seizure of these vehicles are pending with courts but the policemen have been using them for a long time.

The car which is being used by the OC (investigation) was seized from a

crime suspect, Tojibor, 48. Tojibor is accused in 22 cases, including murder and possessing firearms, sources said.

The accused Tojibor is now in Gazipur District Jail.

When asked, Abul Kalam Azad said, “Yes, I am using the car. The vehicle will get damaged if it is not used.” He also said that the accused person told him to use the car.

When contacted, Abdul Alim Khan said, “The car is now under my custody and I am using it. He also admitted that it is not legal to use any seized vehicle.”

Rafiqul Islam said the car he is using belongs to him. “I purchased the car.” The market value of the vehicle is about Tk 22 lakh.

But later Rafiqul admitted that he is using the car as per permission of its owner. “The car will remain fine if it is used,” he said about putting the car to good use.

Sub-Inspector Ashrafuzzaman, evidence store officer of Joydebpur police station, told daily sun that around 15 seized cars were stored in the evidence store.

Asked about the cars being used by OC investigation and other SIs, he said, “Those cars were not on my list.”

When contacted, Home Minister Sahara Khatun told daily sun that she was not well informed whether use of seized cars by policemen is illegal or not.

Noted lawyer Dr Shahdin Malik said, “Police cannot use seized vehicles. It is completely illegal.”

The Supreme Court lawyer added: “They can use it only in an emergency official purpose.”

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The region is Ctg's oyster

Experts want deep-sea port to turn the city into economic hub in south, south-east Asia

Staff Correspondent

Chittagong has immense potential for becoming a regional economic hub but delays in building a deep sea port may mar the chance with Myanmar's move to do that.

Business and trade experts shared the concern at the economic conference “Future Chittagong: Future Bangladesh”, organised jointly by The Daily Star and the Chittagong Chamber of Commerce and Industry (CCCI) at the Chamber House of the port city yesterday.

The conference was part of the Odommo Chattagram festival, an initiative of The Daily Star to project the history, culture and economic prospect of Chittagong.

Participants of the discussion said Chittagong, which lies between China, Myanmar and Northeast India, could become a regional economic zone and contribute to the overall development of Bangladesh.

So, a regional economic zone should be set up in the port city to take advantage of its geographical position -- in South and Southeast Asia, said Salahuddin Kasem Khan, trustee secretary of AK Khan Foundation.

Citing example of China's success through establishing a Special Economic Zone (SEZ), he said India followed the model and is now building an SEZ in Mumbai port with a view to making the zone a vehicle for transformation of regional economy.

“This could also be out model as SEZ has been identified as an engine of growth,” he said, adding that the Indian authorities are building the zone under public private partnership (PPP).

According to Khan the SEZ could be built on the bank of the Karnaphuli River and extended to Cox's Bazar and thereon to the proposed deep sea port at Sonadia.

“It would be much beneficial for us,” he said suggesting that a tunnel be build under the Karnaphuli.

In 1995, Japan International Cooperation Agency (Jica) identified Chittagong as an area with great potential for an economic zone and its prospects to emerge as a major regional economic hub serving China, Myanmar and north-east India.

Citing Japanese investors' attempt to relocate factories from Thailand and China, he said a Japanese SEZ should be allowed to set up Chittagong.

“Japan can be a real development partner for Bangladesh in terms of factory relocation,” he said, suggesting further to take measures to develop the coastal belt.

Prof Muinul Islam of economics department at Chittagong University said Chittagong and the coastal belt were the golden goose for Bangladesh.

Citing China's interest to help Bangladesh build the deep sea port, he said India does not take this positively due to the geo-political reasons. “We have to handle the two countries carefully,” he added.

“Chittagong can serve the whole region -- South China, Myanmar, northeast India, Nepal and Bhutan. But an infrastructure and the deep sea port were needed to be built for this,” said Prof MA Taslim, chairman of Department of Economics at Dhaka University.

“There is no city in the region having the potential like Chittagong has. If we miss the chance Myanmar will snatch it,” said Prof Taslim, citing that after the election in Myanmar, foreign investors had been keen on investing in that country.

“If we can start building the deep sea port now, we can take the advantage,” he said.

Prof Taslim said Bangladesh needs big market for its growth and that is why, trade is a priority. Establishment of connectivity is necessary so that goods and services can move and thus boost trade.

“Connectivity creates the opportunity for trade and free movement of goods and services,” he said, adding that the lack of understanding on connectivity had created confusion over transit and connectivity.

As per international norms, Bangladesh does not required to give transit to India for carrying goods between its mainland and northeast states, Prof Taslim continued, but for a country such as Bhutan, it is obligatory to give the country access to the sea.

“If Bangladesh fails to build the deep sea port within five to 10 years, Myanmar is likely to take the geographical advantage,” said M Shahidul Islam, visiting research fellow of the Institute of Governance Studies at Brac University.

Referring to a study, he said the global growth would take place somewhere between India and China in the next 30 years and Chittagong also has the potential.

Syed Mahmudul Huq, chairman of Bangladesh-Myanmar Business Promotion Council, said the port city used to be known as the big port in the 14th century in China.

The deep sea port would not be viable only through facilitating overseas trade of the northeast India.

“We need China and Myanmar,” he said, adding that SEZ would have to be built centring the deep sea port. Huq favoured improvement in bilateral ties with Myanmar.

Former commerce minister Amir Khasru Mahmud Chowdhury said before framing any plan, priority should be given on land utilisation as land has become scarce in the country.

On SEZ, he said study should be done on whether SEZ would be beneficial if it is set up under the PPP or solely by the government.

The BNP leader also criticised the Dhaka centric development of industrialisation, and economic growth. Prospects of each district should be considered in economic planning.

On Myanmar, he said a holistic approach was needed to build stronger ties with the neighbouring country.

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BNP takes back its greetings

Fakhrul says they congratulated govt by mistake

Staff Correspondent

The BNP yesterday withdrew the felicitation it had extended to the government after Bangladesh won the maritime boundary case against Myanmar at the International Tribunal for the Law of the Sea last month.

Acting secretary general of the party Mirza Fakhrul Islam Alamgir said the verdict of the International Tribunal for the Law of the Sea (ITLOS) had mathematical deceits, which they were not aware of before.

"We were confused by the massive [government] publicity of 'conquering the Bay of Bengal' and we extended our thanks without knowing details about the verdict. But after identifying the loopholes, we stand corrected," he said.

Mirza Fakhrul was speaking as the chief guest at a roundtable styled “Achievement and non-achievement through the verdict over maritime boundary with Myanmar” organised by Bangla daily Amar Desh at the Institution of Engineers, Bangladesh seminar room in Dhaka yesterday.

The government was trying to divert people's attention from critical issues like the crises of gas, electricity and water; killing of Bangladeshi people at the boarder, soaring prices of essentials and plummeting investment, he said.

"Ignoring these problems, the government is organising festivals over the issue of maritime boundary," said the BNP leader.

Claiming that Bangladesh failed to gain anything in the legal battle, Fakhrul alleged that the government did not make proper preparations to fight at the court. "Why renowned experts like Dr Kamal Hossain were not included in the process," he questioned.

He said the prime minister was using the maritime boundary verdict as a campaigning tool because she said Awami League would secure such “victory” with India in 2014, if voted to power again, said the BNP leader.

The maritime boundary dispute with India is scheduled to be solved by an international arbitration court in 2014.

The government has cheated the people on such a large scale over the last three years that people have lost faith in the government, he claimed.

Amar Desh Editor Mahmudur Rahman chaired the roundtable while former vice-chancellor of Dhaka University Prof Emazuddin Ahmed, veteran journalist Ataus Samad, columnist Farhad Mazhar, Supreme Court Bar Association President Zainul Abedin and its former president Khandker Mahbub Hossain also spoke.

While presenting a paper, master mariner Capt M Rezaul Karim Chowdhury claimed that Myanmar has gained victory through the verdict, not Bangladesh.

However, law professor of Dhaka University Asif Nazrul strongly protested the claim saying, "Both the countries have a win-win situation."

The ITLOS on March 14 delivered the verdict which upheld Bangladesh's claim of 200-nautical miles exclusive economic and territorial rights in the Bay of Bengal rejecting the claims of Myanmar, experts have said.

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