HC asks govt to ensure preservation

The High Court yesterday issued a set of directives upon the government to protect and preserve the Mahasthangarh archaeological site and its adjacent mosque and shrine in Bogra.

The court also reconstituted a committee formed earlier to recommend ways to protect the historical archaeological site and its adjacent mosque and shrine.

The HC removed the deputy commissioner of Bogra from the committee and replaced him by the head of the department of history of Government Azizul Huq College in Bogra. The move came as the court was informed that the DC was not sincere in protecting the archaeological site from grabbers.

The HC on February 2 formed the committee headed by the director general of the Department of Archaeology for necessary recommendations.

Other members of the committee were the SP of Bogra, upazila nirbahi officer of Shibganj, historian Prof Muntasir Mamun, journalist Shahriar Kabir, two representatives from Dhaka and Jahangirnagar universities, one representative from the National Museum and the curator of Mahasthangarh shrine.

The HC bench of Justice AHM Shamsuddin Chowdhury Manik and Justice Sheikh Md Zakir Hossain asked the committee to submit a report before it within two months.

During hearing of a writ petition, the court directed the authorities concerned to stop construction of structures near the archaeological site for the next two months.

Banks under stress

The private commercial banks (PCBs) are facing tough times to mobilise deposits for maintaining their liquidity in line with the statutory requirements of the central bank, according to some close observers of the situation in the country's financial sector.

Furthermore, the banks are in difficulties in meeting their obligations for settlement of import letters of credits (LCs) and also for providing credits to their clients, in keeping with their earlier commitments, due to a heavy pressure on their currently available funds.

Some PCBs are offering deposit rate at even over 13 per cent, particularly for term deposits, though the central bank has earlier instructed them verbally not to accept any deposit above 12 per cent rate of interest.

The Bangladesh Bank (BB) can not enforce compliance by all the PCBs with its "instruction" about deposit rate, the sources said.

Govt explains diplomats, donors its action today

Finance Minister AMA Muhith will sit today with ambassadors of different countries and representatives of multilateral agencies to make clear the government's stance on Grameen Bank and its founder Prof Muhammad Yunus.

Finance Minister AMA Muhith will sit today with ambassadors of different countries and representatives of multilateral agencies to make clear the government's stance on Grameen Bank and its founder Prof Muhammad Yunus.

On behalf of the minister, Shafiqur Rahman Patwari, secretary of the banking division of the finance ministry, sent invitations to the foreign diplomats and representatives in Dhaka yesterday. The meeting will be held at the finance ministry in the secretariat in the morning.

The government move came on the day the central bank removed Prof Yunus from the post of managing director of Grameen Bank as his retirement age has already passed.

Bangladesh Bank as a banking regulator sent a letter to the ministry directing Prof Yunus to hand over his charge, said a finance ministry official.

WB approves $120m credit for private sector development

The World Bank (WB) has approved US $120 million credit to support private sector development in Bangladesh, reports BSS.
The Bank approved the concessional IDA (International Development Association) credit for the ‘Bangladesh Private Sector Development Support Project’ at a meeting yesterday at its headquarters in Washington DC, a WB press release said here today.
The project will facilitate investment in growth centers in the emerging manufacturing and services sectors of the economy with the aim of generating employment.
The project will increase the capacity of government institutions in the development of economic zones and provide financing for necessary infrastructure in economic zones starting with the Kaliakoir Hi-Tech Park and will invest in up to two more economic zones.
In addition, it will create opportunities for cooperation and knowledge sharing between enterprises within the economic zones and their suppliers by providing training and supporting linkages between firms.
The project would also benefit from approximately US$17 million of funding from the UK Department for International Development (DFID), mainly for technical assistance and capacity building for the Government of Bangladesh zone development partners.
The project will also address key constraints to growth including access to serviced land, cumbersome procedures, access to skilled labor, and access to finance.

‘BCS Digital Expo 2011’ starts from March 9

Bangladesh Computer Samity is going to organise a 4-day computer fair styled ‘BCS Digital Expo 2011’ from March 9 at the Bangabandhu International Conference Centre (BICC) in Dhaka.

The Ministry of Science and ICT and the ICT Business Promotion Council of Commerce Ministry will jointly organise the 3rd episode of Digital Expo that will end on March 13, BCS leaders said at a press conference in its office yesterday.

The digital technology and lifestyle exposition will take place in 50,000 square feet area of BICC with 66 local and foreign companies showcasing their products in 29 pavilions and 73 stalls at the show with the theme --Digital Bangladesh for New Generation.

There will be a number of seminars and competitions on art, creating virtual projects and quiz in the fair. Besides, free internet browsing, raffle draws and a lot of entertainment will be arranged during the show.

The fair will remain open from 10am to 9pm everyday from March 10 to 13, but on the opening day the entry would be allowed after 5pm.