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A year full of political turmoil that has immensly affected the lives of commoners finally comes to an end. With chances of respite anytime soon looking bleak on the New Years Eve, people write down their resolutions and expectations for peace on a giant sheet of paper at a programme in the capital yesterday SYED ZAKIR HOSSAIN
The incidents on Sunday at the Supreme Court, press club and Dhaka University were most disturbing as they were contrary to the democratic process and must not be allowed to recur
After the meeting neither Mozena nor BNP leaders briefed the media rather a representative from the US embassy issued a press release about the meeting issues. He [Moznea] wanted to talk to you [media] but he could not due to unavoidable reasons. You understand, Syed Shahnawaz Mohsin, a media
official of the US embassy, told the reporters. The US envoy went to Khaledas residence just after a day of British High Commissioner to Dhaka Robert Gibsons visit to Khaleda at her abode. In the press release, Mozena said the government should provide political space to the opposition and it was the responsibility of the opposition to use the space peacefully. BNP Chairperson Khaleda Zia and I [Mozena] discussed the democratic process, the responsibility that the government has to provide political space to the opposition so that it can freely express its political views, and the responsibility that the opposition has to use the space peacefully. Mozena also said: I noted that the incidents on Sunday at the Supreme Court, press club and Dhaka University
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GREETINGS
The Dhaka Tribune family wishes a very happy New Year to all our readers, well-wishers, advertisers, and newspaper agents.
DHAKA TRIBUNE
News
Members of Jubo Mohila League torch an effigy of BNP Chairperson Begum Khaleda Zia in front of the National Press Club yesterday protesting her remarks on Gopalganj DHAKA TRIBUNE
Workers Party announces CEC: Political situation to improve ahead of polls election manifesto
n
Manik Miazee
The Workers Party of Bangladesh, an ally of the Awami League, yesterday unveiled its election manifesto for the upcoming 10th parliamentary elections, which included the establishment a non-communal democratic Bangladesh. The party announced its 24-point manifesto, becoming the second party to do so just four days ahead of the January 5 elections. Rashed Khan Menon, the president of the party (and the post and telecommunication minister), in his introductory speech said the election was going to be held in adverse conditions as the BNP-led alliance will not take part in it. Menon said that holding the upcoming polls was mandatory for the sake of constitutional continuation. If main opposition BNP declared that they would take part in the elections, the government could consider rearranging the polls, he said. Four candidates of the Workers Party are taking part in the elections as candidates of the alliance with the symbol boat, and 14 candidates are taking part with the party symbol hammer. l
n Mohammad Zakaria
Chief Election Commissioner Kazi Rakibuddin Ahmad yesterday hoped that the situation would soon improve before the 10th parliamentary polls slated for January 5, as the law enforcement agencies were active. People are fed up with the continuous blockade programmes, he told reporters at the Election Commission secretariat. There would be no public support to the January 1 blockade programme. We hope that good sense will prevail. There is no confusion regarding holding of the elections, said the CEC.
Rakibuddin also said it is the miscreants who carry out murders and create untoward situations by using arms illegally not leaders of political parties. The situation is improving as the law enforcement agencies are conducting drives. Everyone can participate in the polls safely, he said. The CEC said Prime Minister Sheikh Hasina can ask for votes following the electoral code of conduct. The official government activities and election campaign are different. She [Sheikh Hasina] can ask for vote by campaigning for election as per the law, he said. l
on Road 5 in Dhanmondi. Awami League candidate barrister Sheikh Fazle Noor Taposh has already been elected the MP from the constituency unopposed. In the previous ninth parliamentary elections, Hasina cast her vote at the City College centre in Dhanmondi under Dhaka 12 constituency. Her nephew Taposh was her party candidate. Not only the president and the prime minister, but many senior leaders of the ruling Awami League would not also get the chance to cast their votes for similar reasons. Awami League leaders Syed Ashraful Islam, AMA Muhith, Amir Hossain Amu, Tofail Ahmed, Suranjit Sengupta, Muhiuddin Khan Alamgir, Syeda Saje-
da Chowdhury, Abdul Latif Siddique, Mohammad Nasim, Obaidul Quader, Mosharraf Hossain, and most of the partys central committee leaders will not be able to practise their voting rights, as their constituencies had sole candidates.
Many senior leaders of the ruling Awami League would not also get the chance to cast their votes
Meanwhile, Sheikh Hasinas son Sajeeb Wazed Joy, who lives in the USA, has not yet got a chance to cast his vote. The Election Commission has confirmed that Joy is a voter of Dhaka. Joy came to Bangladesh last week from the USA. Later, he told journalists that he had come to cast his vote. l
from his village home of Mathabhanga of Chardawlatkhan union in Madaripur around 12:00pm. A Sub-Inspector of Kalkini Police Station Abdul Barek said they got two versions about the incident. Some locals said he himself was carrying the bomb while others said miscreants hurled the bomb. They were investigating into the incident, he said. Meanwhile, on the eve of blockade unknown miscreants hurled two Molotov cocktails aiming police leaving three passers-by and four policemen injured at Mouchak in the capital. Police fired several shots after the incident and picked up a suspected attacker from the spot. Deputy Commissioner of Ramna Division police Maruf Hossain said the
miscreants hurled the bombs at a police team on duty under an over bridge of the area in the evening. The bomb hurt constable Aminur, Kamrul, Ibrahim and a traffic constable Shahidul Islam. The minor injured rickshaw puller, a passenger and a female pedestrians identity could not be known as they left the place following the incident. Meanwhile, from Chittagong law enforcers in separate drives arrested 57 activists of BNP Jamaat-Shibir in an overnight drive ahead of the non-stop blockade. District police control room said that the opposition activists were arrested in separate drives from different areas of Lohagara, Satkania, Sitakunda, Bhujpur, Patiya, Anwara, Jorargonj, Fatikchhari, Rangunia and Mirsarai police stations
of the district. Police claimed, of the 57, 32 Jamaat-Shibir men were nabbed from Lohagara upazila by joint force. All of them were involved in violence in the district during the opposition-called political programme in the recent times. From Satkhira joint forces arrested nine BNP and Jamaat men. Among them, a mobile court has awarded a Chhatra Dal activist Ariful Islam, 20, to two years imprisonment. Meanwhile, police opened fire on a BNP procession at Kaliakour Upazila in Gazipur yesterday leaving at least five activists injured. Police said the activists tried to bring out a procession marking BNPs countrywide agitation programme. At one stage a chase and counter-chase took place and police opened fire.
According to UNB, joint forces in separate drive arrested six opposition activists from Joypurhat, seven from Laxmipur district, 33 from Khulna, 22 from Dinajpur, 19 from Comilla and one from Sylhet. On the other hand, 450 Jamaat-Shibir men were sued on charge of stabbing the general secretary of AL Sadallapur upazila unit of Gaibandha Shahriar Khan Biplob. In a statement last evening, BNPs acting secretary general Mirza Fakhrul Islam Alamgir called upon people to make the blockade a success to resist the one-sided election. The government has been behaving like an autocrat to oversee the voter-less polls, he said. The joint-force, he alleged, engaged itself in arrest business and by doing this they were making quick bucks. l
The economy may move from a short term crisis to a medium term crisis due to the prolonged political turmoil, he said. The countrys social coherence has been badly damaged because of the chaos and political disruption by the political parties and without the social coherence, investment will not come to Bangladesh. He also said the country needed a passable democracy for development and growth, in the experience of two decades. Development think-tank Unnayan Onneshan forecasts that the countrys the real GDP growth in this fiscal may fall below 5.60%, well below a decades average of 6%. It said the drastic fall would be caused by stagnant business, agriculture, industry and investment. The income inequality has also increased
due to the impact of politics in the rural economy. According to the Economic Relations Division, of the Tk65,872 crore earmarked for the annual development programme (ADP) in the current fiscal year, only Tk13,156 crore or 20% was spent during July-November. Two weeks ago, Finance Minister AMA Muhith also expressed the fear that the economy may not recover from the losses incurred in the continuous hartals and blockades. Losses are piling up in every sector each day due to the prolonged political turmoil. The readymade garment sector the mainstay of the economy that makes up almost 80% the countrys total foreign earnings is set to suffer badly, as buyers continue to cancel orders from Bangladesh. The volume of cancelled orders has already crossed $3.6m in 21 days, according to Bangla-
desh Garment Manufacturers and Exporters Association. Although exports have surged by 21% in the July-November period, the garment sector is threatened by the risks of cancellation of orders, GSP cancellation in June next year and Pakistans recent acquisition of GSP-plus facilities from the European Union. Owing to political violence, eight factories have already been shut down, according to Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). According to the countrys apex trade body FBCCI, small entrepreneurs incur a total loss of about Tk1,000 crore in a single day of shutdown. The manpower export sector is also collapsing, with remittance flow falling by 8% in November, according to the Bangladesh Bank. The current political turmoil and strained relationships with some Middle Eastern countries has also
were most disturbing as they were contrary to the democratic process and must not be allowed to recur. He reiterated his call for all parties to eschew violence, which is not consistent with the democratic process, is unacceptable, and must stop immediately. He also noted the US governments concern over the recent wave of arrests of senior political leaders Meanwhile, sand-laden trucks kept on either side of Khaledas house were changed. The old five were removed and new four trucks were placed there. One of the truck drivers Khalil Mia told the Dhaka Tribune that police requisitioned his truck on Monday night from Natunbazar. I was heading towards Shampur and a police official requisitioned my car and asked me to place my truck there at 9pm.Since then I have been
here and I also do not know how many days I have to stay here, he said. When asked whether they had provided any food to them, Khalil said: They gave us supper last night and a parata in the morning but till 4pm we have had nothing. On the night of December 28, five sand-laden trucks were brought to Khaledas residence hours after withdrawal of her police protocol. Journalists used the sand-laden trucks for covering news especially for taking photographs and videos. Since then when the opposition leaders and activists tried to enter her residence or office, they were either barred or arrested. On December 24, Khaleda Zia announced the March for Democracy programme slated for December 29. From midnight that day law enforcers took position in front of the BNP chairpersons residence and her Gulshan office. l
DHAKA TRIBUNE
News
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British envoy meets with Syed Ashraf n Tribune Report
In an apparent eleventh-hour bid to help the squabbling political parties in Bangladesh to reach a consensus, British High Commissioner in Dhaka Robert Gibson yesterday met Awami League General Secretary Syed Ashraful Islam at his residence in the city. The British envoy held a nearly 50-minute meeting with Ashraf, also the Local Government Rural Development (LGRD) and Cooperatives Minister, at the latters Bailey Road residence. However, the content of the meeting could not be known as neither Gibson nor Ashraf talked to the press after the meeting. The British envoy entered Ashrafs also the ruling party general secretary residence around 2:50pm and came out of it at 3:40pm. On Monday, Robert Gibson had a lengthy meeting with BNP Chairperson and opposition leder Khaleda Zia at her Gulshan residence in what is believed to be an attempt to break the prevailing political deadlock. l
The issue of hunger strike, however, did not come up in the meeting with Chief Justice Md Muzammel Hossain
Attorney General Mahbubey Alam yesterday told the Dhaka Tribune that the lawyers could hold their programmes in the Supreme Court Bar Association building and bring out processions parading only through the Mazar gate of the High Court. The issue of hunger strike, however, did not come up in the meeting with Chief Justice Md Muzammel Hossain. The attorney general was present at the meeting. The chief justice had called upon the attorney general, present and former
Water transportation resumes yesterday after a long postponement because of the political unrest . The photo was taken from Sadarghat
DHAKA TRIBUNE
Morshed Khan and his family members n Udisa Islam sued over money The war crimes tribunal yesterday framed charges against Jamaat-e-Islaundering lami Nayeb-e-Ameer Maulana Abdus Subhan for his alleged involvement n Tribune Report in crimes against humanity including
The Anti-Corruption Commission yesterday filed a case against former foreign minister M Morshed Khan and two of his family members on charges of laundering over US$41.2m to Hong Kong. ACC Deputy Director M Moniruzzaman Khan filed the case with Gulshan police station against M Morshed Khan, his wife Nasrin Khan, and their son Faisal Morshed Khan, ACC Public Relations Officer Pranab Kumer Bhattacharya told reporters. According to the case statement, Morshed Khan and his family members had siphoned off US$39.5m and HKD$13.6m to Hong Kong during 20042011, through seven bank accounts at Standard Chartered Bank in Hong Kong. The three accused did not seek any approval from the Bangladesh Bank while opening the bank accounts and transacting money in Hong Kong. In addition, they did not inform the central bank of their assets and cash abroad. The accused three have kept foreign money in an international bank without Bangladesh Banks consent because of their ill intention to conceal wealth, that is an offense under the Money Laundering Prevention Act 2009 and the Money Laundering Prevention Act 2012, the case statement added. The ACC in 2009 sent a Mutual Legal Assistant Request to Hong Kong, seeking information on the account. After receiving the information and analysing it, the ACC found Morshed Khan and his family members guilty, the statement said. l
genocide during the 1971 Liberation War. Then vice-president of Pakistani collaborators group Peace Committee, Subhan is accused of superior responsibility in the crimes, planning acts of genocide, killings, abduction, confinement, torture in confinement, arson and looting at different places in Pabna. The charges are based on more than nine separate incidents of crimes against humanity, in which more than 400 unarmed people had been killed during the war. Subhan was the acting chief of Pabna unit Jamaat. After framing of the charges, the International Crimes Tribunal1 set January 28 to begin the trial with opening statement of the prosecution side and deposition of the first witness. Tribunal Chairman Justice ATM Fazle Kabir read out the charges. Justice Jahangir Hossain and Md Anwarul Haque are the other members of the three-member tribunal. Following arguments on the charges, December 18 was set for the indictment order. But the tribunal that day deferred the date on its own motion as
DHAKA TRIBUNE
News
WEATHER
ACC to seek wealth statements from 2 Ctg customs officials n Tribune Report
The Anti-Corruption Commission has decided to ask for wealth statements from two officials of the Chittagong Customs House. A meeting of the commission yesterday approved notices to be served on Office Super SM Jahangir Alam and his wife Rafeza Begum, who is an assistant of the same office, ACC PRO Pranab Kumar Bhattacharya told reporters. Khulna ACC Deputy Assistant Director M Mosharrof Hossian found that Jahangir and his wife have properties valued at Tk1.13 crore and Tk1.27 crore. The ACC suspects that the huge property may have been generated from other sources, so it decides to ask them to submit their wealth statements for further inquiry. l
PRAYER TIMES
Fajar Sunrise Zohr Asr Magrib Esha 5:21am 6:40am 12:02am 3:47pm 5:23pm 6:43pm
Source: IslamicFinder.org
A teacher demonstrates in front of the National Press Club yesterday, demanding a solution to the ongoing political deadlock DHAKA TRIBUNE
DHAKA TRIBUNE
News
Plots, roads, bridges, lakes and utility services have not been fully completed in any of the sectors
The Purbachal project is situated at Rupgonj upazila of Narayanganj and Kaliganj upazila of Gazipur between river Balu and Sitalakhya in the northeast side of Dhaka, at a distance of 16 km from the Zero Point. The Project area is divided into 30 sectors. Rajuk officials said the handover of plots in sectors 1, 3, 4, 5, 11, 13, 14 and 17, and in parts of sector 8, 9, 18, 20, 23, 29 will start by April 2014. Site development work has been going on in 4,500 acres of Rupganj since 2002-2003 fiscal year. In 1,650 acres of land in Kaliganj, work started from January, 2013, but is facing uncertainty because of orders of the Supreme Court. The High Court Division ordered Rajuk to suspend the development work following a petition filed by Bangladesh Environmental Lawyers Association (BELA). Later in response to an appeal by Rajuk the Appellate Division asked Rajuk to maintain the status quo until further order is issued on land development or any monetary transactions for the Gazipur part. Officials of Rajuk said the site development work of 17 sectors was al-
Police recovered the body of Sham from Chok Kanchan Notun Para area beside Dinajpur-Bochaganj road under Birol upazila of the district
When the family went to the police station for lodging a murder case with Kotwali police station, they refused to file the case and said that the murder occurred in the territory of Birol police station, so they could not file case. They also advised them to go to Birol police station to file a case. Later, the family members rushed to Birol police station, but Officer-in-Charge of the police station
Amirul Islam refused to file a case and advised Shams family to wait for post-mortem report. Amirul Islam also told Laila Begum that they could not file the case because of pressure from higher authorities. Ruhul Amin, superintendent of police, said: We cannot file any case without receiving the autopsy report. About the matter, some lawyers, including Shamim Bin Golam Pal, Saiful Islam, said: If any person go to any police station with such kind of allegation police are bound to file a case immediately. They termed the activities of police centering the murder of Sham a drama. Locals demanded punishment of the killers by filing the case immediately. They said they would go for stronger movement if police did not file a murder case and take stern action against the killers. l
Young girls are buying flowers in the citys Shahbagh arera yesterday on the eve of New Years celebration
RAJIB DHAR
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n Our Correspondent, Lalmonirhat
Farmers in Lalmonirhat are fearing that whether they would be able to bring their land under Boro cultivation this year or not as many seedbeds in the district have been damaged for dense fog and cold spells. During a visit to different village in the district, this correspondent found that seedbeds of Boro seedling in many areas have turned yellowish for lack of sunlight. Azizar Rahman, a farmer at Tajpur village in Lalmonirhat sadar upazila, said: My 21-day old BR-28 seedling have become yellowish because of cold wave which has been sweeping over the district as well as other northern districts of the country over a week. It will be a great blow to us if our seedlings will be damaged totally. Saber Ali, another farmer at the same village, said young saplings at many fields had become whitish for lack of adequate sunlight. I have cultivated Boro sapling on 25 decimals of land. Of them, sapling on about 15 decimals of land are going to be yellowish. If my cultivated saplings are totally damaged I will not cultivate Boro on my land this year, he said. Another farmer said he had prepared seedbed on two bighas of land for cultivating Boro, but a portion of his seedbed was damaged because of chilly weather. Union Parishad Chairman of Rajpur Mofazzol Hossain Mofa said the boro farmers in his union were worried as dense fog with severe cold affected their saplings. Farmer Tarun Chandro Barmon at Mogholhat village said My cultivated boro saplings on 40 decimals of land are
DHAKA TRIBUNE
Nation
DHAKA TRIBUNE
NEWS IN BRIEF
UP Chairman threats AC in Munshiganj
Imampur union parishad chairman had threatened the assistant commissioner (land) of that area to kill him if he did not fulfil the chairmans demand. AC (land) Abu Zafar Ripon claimed that Chairman Monsur Ahmed Khan Zinnah asked him to register a piece of land to Monayem Company, adding that as it was against the interest of the government he refused Zinnah. Officer-inCharge Mamunur Rashid of Gazaria police station said with the help of the caretaker of the Dakbanglo, the chairman along with some men broke into Ripons house and threatened to kill him around early Monday. Ripon had filed a case against eight people, including the UP chairman as prime accused. Our correspondent sharp weapons, leaving him dead on the spot. UNB
Activists of Awami League put up barricade on the Dhaka-Khulna Highway, protesting Khaleda Zias comments about Gopalganj
FOCUS BANGLA
DHAKA TRIBUNE
Long Form
Rescuers fighting to save the lives of the people trapped in the Rana plaza collapse
SYED ZAKIR HOSSAIN
RAJIB DHAR
The Chinese year of the snake began on February 2013 and will end in January 2014. Snakes are regarded as intelligent, but with a tendency to be unscrupulous
n Zeeshan Khan
ew years have been as eventful or as explosive as 2013 was, in our relatively recent history as the Peoples Republic of Bangladesh. It was marred by upheavals, transformations, political stand-offs and social unrest, resulting in violent confrontations on a near regular-basis. Various fractures along social, economic and religious lines have been exposed and dormant forces have come to the fore in a way that leaves very little doubt that Bangladesh is experiencing an uncomfortable coming of age crisis. It began with the demands for the death penalty, following a War Crimes Tribunal verdict, which gave Quader Molla a life sentence seen as too lenient by the crowds that converged at Shahbagh in February. This quickly developed into a national movement, but a highly polarising one, since Jamaat-e-Islami and other opposition parties questioned the veracity of the tribunals findings, and insisted that Molla and others accused were being targeted for political motives. Their concerns were echoed by various rights groups and by a number of foreign governments. Still, the demand for justice for crimes committed in 1971 was a galvanising call, and awoke nationalistic sentiments that were severely offended by the impression that an anti-war crimes tribunal position was automatically an anti-liberation position. This was further aggravated by allegations that Jamaat-Shibir activists were attacking Hindus, temples and cultural symbols like Shaheed Minars. Things deteriorated fast and very soon, convoluted associations were being made on both sides of a widening fault line. The Shahbagh movement was mistakenly associated with atheism and anti-Islam, for its perceived persecution of Muslim leaders and for some controversial blogs written by participants in the movement. Rajib Haider, one of the original organisers of the Shahbagh protests, was unfortunate enough to have lost his life at the hands of religious extremists for this. But Shahbagh conflated war criminals with religion-based political parties, ie with Jamaat-e-Islam, leading to the valid impression that it was not just about war crimes. Institutions linked
to Islamic parties, like the Islamic Bank and Ibn Sina Hospital were placed on the firing line. The AL capitalised on the opportunity to push its nemesis, the BNP, altogether off the stage, and raided its office, carting away busloads of its activists and a large part of its leadership. It did this in the name of preventing terrorism, as BNP was being inextricably linked to Jamaat, whose activists were said to be committing acts of terror. In this roundabout way, the AL sought to rid itself of political opponents. Rallies and demonstrations came under attack, casting aspersions on the ALs commitment to democratic free expression. The violence escalated dramatically. Sporadic scattered attacks became an everyday occurrence, and crude bombs were being detonated with increasing frequency. To control this the police were authorised to use excessive force, leading to brutality and deaths, fuelling further violent retaliations. In April, Hefazat-e-Islam, a group of Deobandist Madrasa teachers and students, in existence since 2010, burst onto the scene demanding death to the Shahbagh bloggers along with 12 other absolutely unacceptable demands, which included curbs on free mixing, free speech and an end to women empowerment. Disavowing any connection with Jamaat-e-Islam, Hefazat claimed to be an apolitical entity, interested only in preserving the sanctity of Islamic civilisation. But their similarities to Jamaati rhetoric were too obvious to miss, even for Jamaat itself, who piggybacked off this Islamic blowback in an attempt to redress the balance of popular power. They held a massive rally at Shapla Chattar in Motijheel to demand an end to what they saw as immoral governance. Many fiery speeches ensued, along with several threats, but by and large the assembly was peaceful. April is marked for other reasons though. On the 24th of the month, Rana Plaza collapsed, killing over a thousand garments workers. It was the single largest industrial disaster in the country and one of the worst in the world, exposing systemic frailties that had already brought the sector into considerable disrepute following previous disasters. It pitted workers against owners, leading to several weeks of protests and fears that the industry, the largest in the country, would collapse under the weight
of international pressure, demands for better conditions and outright vandalism. Debates over the formation of trade unions, minimum wages and global comparative advantages were revisited, leading to a number of resolutions being signed, along with, later in the year, a revised pay-scale. But the difficult balance between economic competitiveness and workers rights remains elusive and a looming class conflict seems only to have been put off for the moment, but not permanently prevented. A silver lining to this terrible incident was the massive support rescue operations received from ordinary citizens of every stripe, who risked their own lives and dug deep into their pockets to save over 2,500 people from the rubble, in a valiant show of solidarity. Less heartening however, was the industrys and the administrations response.
while the government insists that no one died in the night raid. In June mayoral elections in all major cities of the country were won by the opposition, despite, many would say, the AL best efforts to discredit them. This was a reflection of the ALs dwindling popularity but it also lent credence to its claim to be able to hold fair and free elections on its watch, without a caretaker system in place for the next general elections. The abolition of the caretaker system is a major sticking point for the BNP, which insisted that it be restored ahead of coming elections. The AL refused to budge and a political impasse developed that has resulted in the BNP boycotting the elections, leaving more than half the elected seats in Parliament uncontested. Earlier, following the death of Zillur Rahman, Speaker Abul Hamid became president of the
2013 has been fraught with controversy and bloodshed. It has been the year of settling scores, acid-testing national cohesion, revisiting old fractures and creating new ones
May saw a return to ideological confrontations, but none as controversial as the violence surrounding a second Hefazat-e-Islam rally in Motijheel. After day-long running battles between the police and activists of undecipherable affiliation, the areas around Paltan, Baitul Mukarram and Motijheel resembled a war zone, which left several Hefazat men dead as a result of police firing. The conflict reached dangerous proportions as Hefazat-eIslam refused to give up their position at Shapla Chattar (Motijheel), leading to an enormous push by combined security forces to dislodge them in the dead of the night. This was accompanied by a media blackout, making it difficult to confirm the number of casualties it caused. Hefazat claims it is in the thousands,
Republic, while Shirin Sharmin Chaudhury, an unelected MP, became Speaker. With an AL-dominated house, an AL Speaker, and an AL President, the BNP continued to boycott parliament, leaving little room for participatory democracy to flourish. Instead of a caretaker government, the AL opted for a multi-party pollstime government, seeking inclusion of all the major parties, including the BNP. Simultaneously, Jamaat-e-Islam was barred from participating in the elections, and number of new parties were allowed to register. The street violence continued unabated, with attacks and retaliatory police action growing more and more brutal, and continuous hartals crippled the economy. Even the month of Ramadan gave agitators no occasion to pause. The governments crackdown
on freedom of speech also continued, with an amended ICT law giving them powers to detain and arrest anyone expressing anything that could be deemed seditious, even in a facebook status. A Russian built nuclear power plant was inaugurated at Rooppur, amidst controversy about the safe handling of nuclear waste, while plans for a coal-fuelled one at Ramphal, near the Sundarbans, brought environmentalists on the streets in protest. The war crimes tribunal, following the protests at Shahbagh in February, amended its rules to allow prosecutors to appeal for a higher sentence, resulting in Quader Mollas life-sentence being converted to death in September. This was seen as a popular victory, but also as a travesty of justice by eternal observers. The tribunal also handed down other death sentences, allowing the AL to keep to its electoral pledge of bringing known war criminals to book. These were widely popular among mainstream Bangladeshis, but once again, the religious right perceived it as a persecution of Muslim leaders, while the oppositions parties viewed it as political manoeuvring. The unwillingness of leaders of the two major parties to come to terms or even to engage in any sort of constructive dialogue became a national sore point in October, and when it finally did happen the telephone conversation between Khaleda Zia and Sheikh Hasina became a national embarrassment, and resulted in nothing more than bickering of a most unflattering kind. The strikes continued and so did the killings on the streets. In November, Sheikh Hasina brought into being the multi-party interim government to oversee the elections, scheduled for January 5. This was met with resistance by the opposition parties, and street violence, now an everyday affair, escalated to include the murdering of innocent commuters, when buses full of passengers were set alight with petrol bombs. The number of casualties grew daily. This, in turn, led to a further crackdown on the opposition leadership, with the BNP having to resort to issuing statements from undisclosed locations, like outlaws and terrorists. As December rolled around, it became clear that the elections would not be inclusive, as the BNP refused to participate, while Jatiya Party chief Hossain Muhammed Ershad flipped and then flopped, agreeing to participate one day,
and then refusing to another. In dramatic fashion he declared he would commit suicide if he was arrested, yet did no such thing when law enforcers took him away, ostensibly for his own good. The AL announced 154 seats of the 300 elected seats in parliament would be uncontested and therefore filled by MPs of the ruling alliance, making an already unrepresentative election all the more farcical. Quader Molla was executed on the 12th of December, bring the process that began in February, full circle. The Pakistani parliament, controversially, expressed sympathy for Molla, causing considerable resentment in Bangladesh, and led to attempts at surrounding the Pakistani High Commission. Once again, Islamists expressed their ire by killing ordinary citizens and Hefazat-e-Islam sought permission for a third mass rally in the capital, but were denied it. The Commonwealth and the European Union announced that they would not be sending observers for the January elections, and on December 26 the government deployed the army to prevent a further escalation of violence. On December 29 the government intercepted an opposition-planned March for Democracy rally, and the capital was cut off from the rest of the country to prevent opposition activists from gathering in the city. The government also called on AL activists to be armed and ready on the streets to prevent any opposition agitation. The did this with relish, even invading the Supreme Court premises and attacking demonstrating pro-BNP lawyers, including women. Opposition leader Khaleda Zia was also prevented from leaving her house to join the rally. Businessmen also took to the streets in December, to demand a restoration of normalcy, as the political violence is severely affecting their businesses and in turn the economy. Needless to say, 2013 has been fraught with controversy and bloodshed. It has been the year of settling scores, acid-testing national cohesion, revisiting old fractures and creating new ones. It has shown us, clearly, that we are still far from being able to pull in the same direction, but are instead dangerously close to being pulled apart by forces that have not yet found a way to co-exist. Where we will be after the dust settles, is anyones guess. l Zeeshan Khan is a journalist.
People waiting in a polling station, to cast their vote in the mayoral elections
SYED ZAKIR HOSSAIN
RAJIB DHAR
DHAKA TRIBUNE
International
A South Sudan army soldier stands next to a machine gun mounted on a truck in Malakal town
REUTERS
87 people had been detained after they resisted police or could not produce proper ID
Volgograd formerly Stalingrad - is a city of about 1 million and a transport hub for an area ofsouthernRussiathat includesChechnyaand the other mostly Muslim provinces of theNorth Caucasus, where the insurgency generates deadly violence almost every day. A car bomb killed a prosecutor's assistant in Dagestan, a hub of Islamist militancy in the Caucasus, on Tuesday, and two people were killed in a bomb blast there late on Monday, authorities said. Putin has staked his prestige on the Games in Sochi, which lies at the Western edge of the Caucasus Mountains and within the strip of land the insurgents want to carve out of Russia and turn into an Islamic State.
n AFP, Beijing
An exile Uighur group on Tuesday demanded Chinese authorities allow independent investigations into a clash in Xinjiang where eight "attackers" were shot dead by police, the latest deadly incident in the largely Muslim region. The Xinjiang regional government should "fully disclose all information" on the Monday violence and allow "an independent investigation to be conducted by international organs", the Munich-based World Uyghur Congress (WUC) said in a statement. It also called on Beijing to open Shache county, where the conflict took place, to foreign media and government representatives "to allow transparency surrounding the narrative of the incident". The area, around 200 kilometres (124 miles) south-east of Kashgar, is known as Yarkand in the Uighur language. Chinese authorities have described the incident as an "organised and premeditated terrorist attack" on a local police station by a total of nine "terrorists" armed with knives and explosive devices, according to the state-run Xinhua news agency. One of the "attackers" was held in the clash, it said, adding police confiscated 25 explosives and nine knives at the site of the "attack". The group, led by two apparent Uighurs identified as Usman Barat and Abdugheni Abdukhadir, had gathered to watch terrorist videos and promoted religious extremist ideas since August, Xinhua quoted Xinjiang police as saying. They had also raised funds and made and tested explosives for planned terrorist attacks, it added. l
We hold the government of Nourial-Maliki responsible for the bloodshed and the fighting
Maliki has repeatedly vowed to remove the camp and accused protesters of stirring strife and sheltering fighters linked to al-Qaeda. The MPs who stepped down after the latest bout of violence demanded the withdrawal of the army... and the release of MP Ahmed al-Alwani, a Sunni of the Iraqiya bloc who was arrested during adeadly raidon Saturday. Prominent Sunni politician Saleh al-Mutlaq called for all legislators from Iraqiya to withdraw from the political process, saying it had hit a dead end. Elections in this atmosphere would be settled in advance, therefore we should raise our voices high and say the political process cannot proceed in this way, he told reporters.
Thousands of biodegradable balloons are released by members of the citys commercial association a in Sao Paulo, Brazil to celebrate the New Year AFP
DHAKA TRIBUNE
International
Aung Min Oo, who were sentenced in recent weeks to eight months in prison for marching to the rebel town of Laiza in strife-torn northern Kachin state, were greeted by jubilant supporters as they walked free from the jail. I respect the president for keeping his promise, Yan Naing Tun told reporters. Arbitrary imprisonment was a hallmark of nearly half a century of harsh rule by a junta that denied the existence of political prisoners, even as it imposed harsh punishments on rights activists, journalists, lawyers and performers. Before Myanmars reforms, rights groups accused the country of wrongfully imprisoning about 2,000 political detainees most of whom have since been freed. Prison authorities said they did not have a timetable for releasing those pardoned under the latest amnesty, adding it could take time to identify all those affected. We do not know how many yet as we are still scrutinising the list... we will release them as soon as possible, said corrections department director Than Htay. The latest amnesty includes the most notorious laws used by the former junta against its critics, including democracy campaigner Aung San Suu Kyi who is now an opposition MP following the countrys dramatic reforms. l
Arbitrary imprisonment was a hallmark of nearly half a century of harsh rule by a junta that denied the existence of political prisoners
David Mathieson, a researcher with New York-based Human Rights Watch, said the claims could be bluster to try to meet the self-imposed release deadline. They can claim a technical fulfilment of the presidential pledge at best, he told AFP, adding the government would need to demonstrate it had resolved the cases of the dozens of people facing trial. He also called onMyanmarto repeal the controversial laws, with campaigners fearing authorities could continue to arrest critics in the future, potentially creating more political prisoners. Dozens of relatives and friends gathered outside Yangons notorious Insein prison early Tuesday awaiting news of their loved ones. Peace activists Yan Naing Tun and
AFP
n AP, Beijing
A Chinese doctor has admitted in court that she stole babies from the hospital where she worked and sold them to human traffickers, state media and a court said. Zhang Shuxia, a locally respected and soon-to-retire obstetrician, stood trial on Monday in northern Shaanxi provinces Fuping county, according to online postings from the court. Zhang told parents their newborns had congenital problems and persuaded them to sign and give the babies up, the court postings said. Calls to the Weinan Intermediate Peoples Court and the local Communist Party propaganda department went unanswered. The indictment said that from November 2011 to July 2013, she sold seven babies to middlemen who sold the babies to couples in central and eastern China. Six of the babies were rescued, but one that was trafficked for 1,000 yuan ($165) in April later died. Zhang was found out when a mother suspected her baby had been abducted and reported her to police in July. The official Xinhua News Agency reported that Zhang had taken the baby home with her and sold him to a man in a neighboring province for 21,600 yuan ($3,600) the same night. l
Volcanic ash spews up into the air from Mount Sinabung as it erupts in Karo, North Sumatra
AFP
Local residents gather to see Dutch artist Florentijn Hofmans yellow rubber duck at a harbor in the southern city of Kaohsiung AFP pump stopped working. Powerful winds caused the ducks rear end to burst while it was being re-inflated. Organisers in Taoyuan had to borrow another duck commissioned by the Kaohsiung city government to continue the show. The duck at Kaohsiung, which attracted four million visitors during a one-month display, was temporarily deflated and lifted ashore as a safety precaution when Typhoon Usagi pounded the island in September. Since 2007 the original duck designed by Hofman -- which is 16.5 metres tall -- has travelled to 13 cities in nine countries, including Brazil,Australiaand Hong Kong, on its journey around the world. l
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DHAKA TRIBUNE
Editorial
LETTER OF THE DAY
Letters to
the Editor
s the new year begins, the country remains in a state of uncertainty. Key concerns which were present at the start of last year remain unresolved at the start of 2014. The political deadlock is still with us and fears over violence continue to affect the economy. Nonetheless, some progress has still been made to address long running concerns over the past year. Amid much political debate, the war crimes tribunal process has continued to proceed with broad public support. A new minimum wage was finally agreed in the garment sector, and the aftermath of the Rana Plaza tragedy has invigorated initiatives to work on raising safety standards and improving conditions in the industry. The people have continued to demonstrate the resilience for which they are renowned in the face of political strife and the consequent economic fallout. Farmers have continued to report good harvests and the economy remains with a positive growth rate, despite being hampered by strikes and blockades. Bangladeshis have good reason to hope for a better future if the political crisis can be resolved. As January begins then, Dhaka Tribune is pleased to be publishing a special publication, Turning Points, in partnership with the New York Times. Turning Points brings together globally renowned experts and distinguished personalities, both Bangladeshi and international, to reflect on the key challenges and crises facing the world. We hope that you will enjoy the special supplement we provide as a new years gift to you, our valuable readers, and we would like to take this opportunity to thank you for your loyalty and friendship over the past year. We will continue to make every effort to be ever worthy of your time and attention. The new year is a natural moment to plan ahead. We hope that the year ahead can be a better one for the country and wish all readers a happy and prosperous 2014.
Bangladeshis have good reason to hope for a better future if the political crisis can be resolved
Joy Bangladesh
December 24 Fantastic write up. We applaud the Bangladeshi resolve to deal with the Jamaatis. Apologies for the stupidity coming from some Pakistani politicians purporting to speak in our name. Asif Pakistani
Be Heard
Write to us at: Dhaka Tribune FR Tower, 8/C Panthapath Sukrabad, Dhaka-1207 Email us at: letters@dhakatribune.com Send us your Op-Ed articles: opinion@dhakatribune.com Visit our website: www.dhakatribune.com Come join our Facebook community: https://www.facebook.com/DhakaTribune
s the new year begins, we feel that there is still time for the political parties to find an amicable and mutually acceptable way out of the current crisis. In the interest of the people and in the spirit of hope and renewal that ushers in every new year, we call on both of them to turn over a new leaf in 2014 and work together to find a reasonable solution that will allow the country to move forward. The opposition must renounce all violence and programs such as hartals and blockades that hurt the people of this country. There is no reason why they cannot press their case in a peaceful manner, and indeed there is no doubt that in doing so they would win the sympathy and respect of the general public. As a first step, we ask that the opposition call off its blockade scheduled to start today and to extend the hand of amity towards the government. By the same token, the government should reciprocate by releasing all senior opposition leaders and allowing the opposition the democratic space that is their right. The government should also pledge to abandon the heavy-handed measures that have characterised its response to the opposition and that have equally caused hardship to the common people. Both major parties have a responsibility to the people to settle the political crisis. Blockades and strikes can only exert a severe toll on the country, and counter-blockades set up by the government together with repressive measures that deny the opposition space and also clamp down on civic life are no solution. We sincerely hope that the new year can bring the amity and concord that the people of this country want and deserve. We need to move forward. Heres hoping that 2014 will be a year of resolution.
December 26 There is much evidence of Bangladesh Army battalions proving they are still reliable and capable enough to execute many difficult jobs. So I think Rajuk can send a request to the army, through the prime minister, to get proper intervention support. Shujaat
We call on our political parties to turn over a new leaf in 2014 and work together to find a reasonable solution
PEANUTS
CROSSWORD
ACROSS 1 Mild explosion (3) 3 Social standing (6) 8 American state (4) 9 Curve (3) 10 Heart ailment (6) 11 Season (6) 14 Company of eight (5) 17 Symbols (5) 20 Widespreading dominion (6) 24 Mad (6) 26 Fate (3) 27 Preservative (4) 28 Worn away (6) 29 Help (3) DOWN 1 Church seating (4) 2 Jetty (4) 3 Australian river (4) 4 Dance (5) 5 Pollute (5) 6 Rounded vase (3) 7 Inadequate (5) 12 Hawaiian dish (3) 13 Tavern (3) 15 Drinking vessel (3) 16 Do wrong (3) 17 Show amusement (5) 18 Keen relish (5) 19 Inward feeling (5) 21 Honey drink (4) 22 Greek letter (4) 23 Observed (4) 25 And not (3)
SUDOKU
YESTERDAYS SOLUTIONS
Crossword
How to solve Sudoku: Fill in the blank spaces with the numbers 1 9. Every row, column and 3 x 3 box must contain all nine digits with no numberrepeating.
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DHAKA TRIBUNE
Op-Ed
11
into the offences under the Anti-Corruption Act, 2004 and other relevant laws; institutingsuo motoinquiries or inquiries on the basis of applications from aggrieved persons, and filing and conducting cases. This shows that the ACC can initiate a suo moto inquiry into the wealth allegations of the MPs over the past five years. But the ACC does not appear interested. The question that arises is: Why this apathy? In support of his argument for not launching an inquiry into the allegations of amassing huge wealth by the said eight MPs, the ACC commissioner said: Now, an atmosphere is prevailing for an election, and a process is on for dialogue. So, if the ACC becomes active on the issue, the situation will worsen.
DHAKA TRIBUNE
n Shawkat Hussain
he mood of the nation is interrogative, apprehensive, despairing. New Years Eve celebrations in TSC are out; the New Year starts with
blockades. As I write, two bombs explode somewhere nearby, perhaps in the New Market area. The Dhaka Metropolitan Police Commissioner has announced that people in some areas, including the area I live in, should not venture out after 8pm. Virtual curfew on New Years Eve! What else can you say about the mood of the nation? One thing is certain to me: The Election Express will reach its destination on January 5 with very few passengers on board. What the destination is, nobody is sure about. I have lost my voter ID. And since there is no campaigning in my constituency, I assume I dont have a candidate either. My choices have been taken away both by the loss of my ID and ALs unyielding position about upholding the letter of the constitution. But then we can never rule out a dramatic reversal in the final act of this very high drama that we are witnessing. This is nothing if not a modern-day game of thrones and the stakes are very high. The only people directly involved in this game are those who benefit from it, or hope to benefit from it. Battle lines are clearly drawn between the AL and BNP Jamaat axis. Ershad, for the time being, appears to
have gone back into the wings. Disinterested people (that is, basically people not interested in plundering), not necessarily pro-BNP, important and articulate members of our civil society who express concern about the nations plunge into chaos and suggest that the January 5 elections should be cancelled, are lambasted for reasons which seem like non-sequitors. If you are not with the government then you must be anti-liberation and pro-BNP. This is simply not true for a large section, perhaps even the majority, but their voices are not heard.
spokesperson, and consequently sunk in the estimation of many. But what does it matter. He is now a man of importance. Perhaps one of the most shameful political moments that we all witnessed, all in the name of constitutionality and democracy, was the manhandling of a female lawyer by AL thugs while the police stood by and watched in silence. And then of course, there was the drama in front of Khaleda Zias house, barricaded by several trucks laden with sand, forcing her to abort her march for democracy, all to protect the people and the constitution.
The people seem to have been erased from the equations and become completely voiceless while battles are being carried out in their names
BNPs March for Democracy, did not, could not, take place. Instead we saw violence on the streets, clashes between the police and pro-BNP lawyers in the High Court area, clashes between AL cadres and pro-BNP lawyers, scufflings and exchanges of hot words between pro-AL and pro-BNP journalists. The PMs media adviser, once a firebrand critic of the governments inept handling of the Sagar-Runi murder, has now become the governments loudest and most vehement But where are the people for whom the constitution is being safeguarded and the attempted March for Democracy undertaken? They are nowhere in sight. We have only seen the police and army following orders from the government. We have seen AL and BNP Jamaat thugs out on the streets, and we have seen pro-BNP lawyers protesting and university teachers out to march for democracy. The people seem to have been erased from the equations and become completely
voiceless while battles are being carried out in their names. Teachers and lawyers are out on the streets because they want to be seen to be out on the streets by the leader, Khaleda Zia, and eventually rewarded for their partisan loyalties. This has happened in the past and will happen in the future. AL teachers with high visibility on TV or out in the streets after 1/11 have all been suitably rewarded. Now the BNP people think its their turn. Over 20 years back, when there was a real peoples movement against the regime of Ershad, a frail university teacher, then president of the Dhaka University Teachers Association, fell down on the street while he was leading a procession. Later, when BNP came to power, he rose to be president of the nation. Such ambitions run high among many teachers, doctors, lawyers and other uncritical partisan professionals. The people who suffer most are disinterested people who see most clearly the swirling anarchy that surrounds them, who do not support the BNP Jamaat axis, who are strongly, unquestionably pro-liberation, and who feel that this election is just not the way it should be. I have a hunch that Khaleda Zia will indeed change Gopalganjs name if and when she comes to power. l Shawkat Hussain is former Professor and Chair of English, Dhaka University, and now teaches at State University of Bangladesh.
hen journalists on December 19 drew the attention of an ACC commissioner to a report which compared the wealth statements submitted by some Awami League contestants ahead of the 10th parliamentary polls with those submitted before the ninth election, he said the Anti Corruption Commission would not launch an inquiry into how some AL contestants of the upcoming polls had amassed huge wealth in the last five years. His argument was that such a move might hamper the election. The Daily Star had published a report titled: The genie gave the money, which showed that some of the AL contestants of the 10th parliamentary polls had become richer over the last five years, some rather astonishingly. The report mentioned the names of eight such contestants. Some people are of the opinion that the disclosed wealth statements of the said MPs and their dependants dont fully reflect their wealth. They have many more undisclosed assets. We all know that corruption is a serious problem in Bangladesh. People of Bangladesh remember with melancholy those five years when the country topped the list of the most corrupt countries in the world. Since then, Bangladesh has made insignificant progress in the fight against corruption. According to a Transparency International report released this year, Bangladesh ranked 136th among 177 countries. A recent global survey by TI revealed that political corruption is the biggest scourge facing the world. As for Bangladesh, there is no comprehensive law regulating the raising of funds for political parties in a transparent way. It continues to be mostly a secret affair. It has been observed by many analysts that unless the funding process is transparent, elections will degenerate into the auctioning of nominations. To win elections nowadays, one needs money and muscle power. If one has money, muscle can be arranged easily. This is exactly why the persons referred to in the news report used their public offices to illegally amass so much wealth in the past five years. According to a TIB survey, the candidates who participated in the ninth parliamentary election spent about Tk30 lakhs each, which was in excess of the expenditure limit set by electoral laws. According to the survey, the highest spending by a candidate was Tk280 lakhs. Those who spend that much money for an election obviously do so with the hope of making good on that investment. The other actors in the corruption drama are public servants and businessmen. Corruption has become pervasive in public administration in Bangladesh. This is generally attributed to poor pay and the lack of enforcement of laws. The recent amendment of the ACC law requiring the commission to seek prior permission of the government to proceed against the public servants will encourage them to be more corrupt. The functions of the ACC include,inter alia, conducting inquiries
The ACC can initiate an inquiry into the wealth allegations. But it does not appear interested
Does this tally with the ground reality? Following the boycott of the 10th national election by the BNP-led opposition alliance, the ruling alliance led by the AL has already won more than half of the parliament seats uncontested. The AL alone is likely to get two-thirds of the seats in this voterless and one-sided election. The AL high command has ruled out the possibility of any discussion with the opposition. Since the AL-led ruling alliance is going to form the next government, the commission doesnt want to initiate any action that will go against the interest of any highups of the ruling AL. Secondly, the commission has a poor record of initiating action against the high-ups of the party/alliance in power. When the country repeatedly topped the list of the most corrupt countries during the time of the BNP-led four-party government, the commission failed to take any action against the alleged corrupt leaders of the BNP-led ruling alliance. Hardly any change was noticed in the behaviour of the commission during the past five years of the AL-led grand alliance government. We have seen how the Padma Bridge corruption case was mishandled by the commission led by Ghulam Rahman. The result has been disastrous. It may not be denied that during the period of the last caretaker government, the ACC sometimes acted harshly against corruption suspects. But it is also equally true that the reconstitution of the ACC by the post1/11 caretaker government and amendments made to the Act 2004 provided some degree of dynamism and vibrancy, aiming at making corruption a punishable offence and challenging the culture of impunity. The ACC must fulfill the peoples expectations by discharging the responsibilities entrusted to it by the charter without taking into consideration the interest of any political party, whether in power or not. l M Abdul Latif Mondal is a former government secretary.
n Mridul Chowdhury
he high-stakes game of thrones continues and we, the common citizens, are either silent observers, if lucky, or fallen victims, if unlucky. We sometimes hold processions on the streets often too reserved to ask for specific demands, since if we ask for something like the caretaker government, we would be tagged as pro-BNP, or if we ask for something like an end to the hartals, we would be pro-AL. So, we get on the streets with our banners and our slogans with demands that are generalised enough in nature that we can avoid getting labelled. So here I am writing an open letter to both the leading incumbent and opposition parties, with full cognisance that many readers will either put me on a nouka or picture me holding a dhaner shish, or if creative enough, put me on a nouka holding a dhaner shish the image of the ultimate shubidha-badigoshti. So be it.
Note to BNP
Bangladesh is not unfamiliar with political violence, often due to protests by an opposition left with little recourse. Both leading parties have misused this language of protest in the
past. But this is the first time we are seeing ordinary citizens systematically targeted again and again. These are not hapless bystanders who became collateral damage at points of political action these are people going home from work and burnt inside their commuter buses. We are also seeing targeted assassination of members of the police force and attacks on police stations. This is no longer a mere language of protest; it is bordering on terrorism. In your press conferences, you call for peaceful blockades or hartals, but even when there is clear evidence of violence perpetrated by the activists of your coalition, you either blame the government or say that it is the common people who have risen. This attitude can easily give the impression that you either have no control over your activists, or that you are silently encouraging it. Furthermore, what has caught peoples attention in particular has been your long eerie silence after the Quader Molla execution. The morakanna from the Pakistan parliament, Jamaat-e-Islami Pakistan, and the Tehrik-e-Taliban has been particularly interesting. The calls from Mollas friends sort of bring into question the real political allegiance and philosophy of
Jamaat-e-Islami Bangladesh. Jamaat commands no more than perhaps 3 or 4% of votes, but still you latch onto them. Is it just political pragmatism, or are there underlying issues of your own political identity that need to be resolved and clarified to the voters?
that over-stayed its term by almost two years. But what effective steps have you really taken to legitimately replace a caretaker government system? How strong is an election commission when it does not even once voice the concern that more than half the countrys population will not even get to vote on January 5, since their respective representatives have already been pre-decided for them? How acceptable is an election-time government with an all-powerful prime minister position which, as per current rules, can easily over-shadow any other cabinet post? There is little doubt that the January 5 election will not only have little legitimacy domestically, but also internationally. The international bodies have already reneged on promises of sending election observers. The current support that you are enjoying from the Indian diplomatic community may significantly wither away if Congress loses office in the Indian general elections in mid-2014 (which there seems to be quite a big possibility of), which can create a major alternate dynamics of international cooperation. Just because you seem to be in control of the game today does not mean it will last for very long that is the very nature of this game of thrones.
Note to both
A silent game-changer is that the demographics of this countrys voting population is changing quite drastically, with the educated youth increasingly taking a bigger chunk of the voting population pie every year.
is questionable, or from foreign forces that naturally come with their own agendas that can be divergent from our national interests. To BNP: If you do not give up your allegiance towards Jamaat, it might soon weigh down on you so hard that you might not be able to lift yourself
It would take so little for you to win the hearts of the majority in a durable manner. Still, all you can think of are narrow, short-time, tactical moves
More importantly, the generation which never saw either Sheikh Mujib or Ziaur Rahman is growing rapidly in size. Both of your parties will have to find fresh identities and stop basking under the shadows of those two leaders. It would take so little for you to win the hearts of the young, the progressive, the majority, in a durable manner. Still, all you can think of are narrow, short-time, tactical moves. All that we really want is an honest fight between parties, which does not draw a life-line either from domestic forces whose allegiance to this nation
up again. Whether you realise it or not, your identity as a party with a strong backbone is diminishing every day. To AL: You have to find a way to get the country back on a path of democracy soon, even if it means holding another election under a different head of election-time government. Whether you realise it or not, your identity as a party with strong democratic values is diminishing every day. Its your time to choose, while we wait patiently for our time to choose. l Mridul Chowdhury is co-founder of Jagoree, and CEO of a social enterprise.
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DHAKA TRIBUNE
Entertainment
Jaya redefines glamour of film industry
The actor looks forward to making stronger position in cinema in the New Year
failed business, but many experimental works are being made and Im positive about the change. I always look for diversity and experimentations. Viewers will also find me in a different manner in different stories. On the other hand, there are different types of audience. We need to also think about the so-called "suburban and lower class" audience. We have to help them to take their taste to a higher level.
I believe good commercial films should be made regularly for the development of Dhallywood. As an artiste and film lover I believe I should have an active participation. So, Im acting in commercial films even after facing many the criticisms.
After the success of PDPK, what do you plan for your career?
Yes, the success has really boosted up my confidence and given me access to the mass audience. But even before PDPK, I started to step out of TV industry since I became very upset about the substandard works there. Now I'm giving full concentration to my film career.
Right now I'm working in two films Parle Theka by Samurai Maruf and Zero Degree by Animesh Aich. A few projects are under discussion but not yet finalised.
Your recent ventures in mainstream cinema have been criticised by a certain people, how do you see it?
I was surprised and honoured to be the first Bangladeshi actress to walk on the red carpet at the festival. It was a big responsibility as I was going to represent my country on a platform like this. I saw there were so many pavilions of different countries but, I felt really bad thinking why we didn't have any. Even they thought I am from India. I was loud that I am from Bangladesh and I had to be very diplomatic. The best thing was to watch the movies since Cannes selects the best movies from all around the world. Moreover, It provided me a grand opportunity to mingle with the big names of the world cinema. But, I found them depressed about the films and they wanted more exciting stories and experimental works. I think, we, the Bangladeshis, have the potential to fill in the gap. Our contents and concepts are very rich. We need to be more smart with the technology and then we can find a distinctive position in the world cinema. l
ON TV
MOVIE
9:30pm WB
Clash of the Titans
COMEDY
11:30am Z Cafe The Big Bang Theory
MISC
10:30am National Geographic
Dangerous Encounters
8:30pm Vh1
The Hobbit: The Desolation of Smaug, the special-effects-laden Hollywood movie that pits dwarfs against a dragon, blasted to its third consecutive US box office title, collecting $29.9m over the post-Christmas weekend. It has beaten newcomers The Wolf of Wall Street and The Secret Life of Walter Mitty.
Sport
DHAKA TRIBUNE
13
0 7 4
DAYS TO GO
14 Injury-free 2014 top of Messis wish list 15 Junaids five keeps Pakistan high
Prime Bank Cricket Club celebrates their Amber Victory Day T20 title at the SBNS yesterday
MUMIT M
We love cricket
n Minhaz Uddin Khan
The final of the Amber Victory Day Twenty20 at Sher-e-Bangla National Stadium yesterday witnessed a different chant from the crowd. The cricket crazy fans in Dhaka who are usually found chanting on top of their voice for their favourite team were seen in a different posture. A section of the crowd at the stadium conveyed their message to the ICC (International Cricket Council) and the ACC (Asian Cricket Council) with the help of banners and placards. ICC please dont break our heart, was one of the message written on a banner and held by a group of 20 people. While other banners carried messages like Keep cricket aside of politics, We want ICC World T20 2014 in Bangladesh and We love cricket. Reports in the media of the events (ICC World Twenty20 and Asia Cup) getting shifted to some other country has made us restless. We are sports lovers and dont understand much of politics, said Tauhid to the Dhaka Tribune, one of the member of the large group. The political turmoil throughout the country caught attention of few of the participating countries of the mega events which was followed by the security concern. The unrest in the country was highlighted in the international media after West Indies Cricket Board withdrew their Under-19 team from the seven-game youth ODI series against Bangladesh U-19 after a crude bomb exploded within a short distance from the team hotel at Chittagong. l
Afghanistan 3
3 0
gladesh are scheduled to host Sri Lanka for a full series comprising of two Tests, three ODIs and two T20s before hosting the Asia Cup and the World T20, but due to the political unrest all the events were at point looking unlikely. However, the Sri Lankan team has confirmed their tour and also planned to stay back for the Asia Cup, which will run from February 24 to March 7. We had a meeting with the Sri Lankan high commission yesterday and we assured them about the security arrangements and they also discussed about the issues and confirmed that the Sri Lankan cricket team will visit Bangladesh for a full fledged tour this month, said Nizamuddin. l
Cricket lovers display banners for timely hosting of upcoming Sri Lanka series and the T20 WC at the SBNS yesterday MUMIT M
FACTS FILE
Name: Birth Date: City : Nationality: Rui Jos Capela Batista 06/05/69 Beja Portuguese
Coaching Career:
2013, 12, 11-, 3 de Febrero (Paraguay), 2010, 09, 08, 07 Esp. Lagos (Portugal),2006, 07- Portimonense SC (Portugal), 2005, 04, 03, 02- GD Lagoa (Portugal), 2001- Quarteirense ( Portugal)
Playing Career:
Star forward Zahid Hasan Emily welcomes Jose Rui Capela Batista, the new Portuguese coach of Dhaka Mohammedan at the club premises yesterday COURTESY
Midfielder, 1979 85- Desp. Beja (U 15/U 17), 1985 Torralta, 1986 89 Farnese, 1990- Quarteirense, 1991 U.Tomar, 1992 Moura, 1993, 94 Esp,Lagos, 1994 SC Praiense, 1995, 96 97 Imortal,1998- Ourique, 1998,99, 2000,01GD Lagoa, (All are Portugal clubs)
de Febrero to the second division title last year after the team was relegated to the second division in 2011. A midfielder in his playing career Capela played in Portugal for different clubs in second and first division. He started coaching in 2001 for Portugals 2nd division club Quarteirense. The coach loved the challenge of being in this part of the world and said, I have learnt the games of Europe, Latin America now I am in Asia and I want to explore the new horizon. I have taken a challenge and I want to do good here. The coach said he loves attacking football and he is guided by the philosophy of it. Passing, control and precision will be the key of my coaching. I hope to form a good team, added Batista who said it took him two days to reach Dhaka from Lisbon, Turkey. Mohammedan director in charge Lokman Hossian Bhuiyan, manager Amirul Islam Babu, directors Sarwar Hossain, Mahbubur Rahman and MSCs last year coach Saiful Bari Titu were also present on the occasion. l
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DHAKA TRIBUNE
Sport
Zlatan Ibrahimovic (R) of Paris Saint-Germain takes part in a training session at the Aspire Academy of Sports Excellence in the Qatari capital Doha yesterday
AFP
FIXTURES
Arsenal Crystal Palace Fulham Liverpool Man United Southampton Stoke City Sunderland Swansea City West Brom v v v v v v v v v v Cardiff City Norwich City West Ham Hull City Tottenham Chelsea Everton Aston Villa Man City Newcastle
scorer of four goals in his last four league games, to carry his impressive recent form through to the end of the season. He got one goal last year and now he is on seven for this season, said Moyes.
It could be better but you have got to say it is going in the right direction. With the second half of the season to go, he should be certainly looking to score 20 goals. Spurs held United to a 2-2 draw when the sides last met at White Hart Lane on December 1 and won 3-2 on their last visit to Old Trafford in September 2012. Arsenal finished 2013 in first place after a hard-fought 1-0 win at Newcastle United at the weekend and on Wednesday they host a Cardiff City side still adjusting to life without sacked manager Malky Mackay. However, with Manchester City a point behind in second place and Chelsea a point further back in third, Arsenal
manager Arsene Wenger believes that it is too early to be thinking about the league title. Look, we believe in ourselves and we are determined to give our best, absolutely, and to turn back on the season at the end and think we have given our best, he said. Chelsea produced one of their most impressive performances of the season to date in Sundays 2-1 win at home to Liverpool and Jose Mourinhos side will look to keep the pressure on Arsenal when they visit Southampton. City, meanwhile, can give themselves an early taste of life at the summit if they avoid defeat at Swansea City in the first game of 2014. However, like Wenger, City captain
Vincent Kompany has played down the significance of podium placings at this stage of the campaign. Liverpool will be doubly motivated when they welcome Hull City to Anfield, having been beaten 3-1 by Steve Bruces side a month ago. Everton capitalised on Liverpools loss at Chelsea by stealing into fourth place with a 2-1 win at home to Southampton, but on Wednesday they visit Stoke City, who have lost only once at home this season. Bottom club Sunderland, meanwhile, will hope to escape from the relegation zone when they host Aston Villa, having closed to within two points of safety following a run of four games without defeat. l
have a few practice sessions with my team mates before returning to action, he added. Coach Gerardo Martinos squad have New Years Day free and return to training with a double session on Thursday.l
Much-travelled French striker Djibril Cisse is set to return to France after agreeing an 18-month deal with Corsican side Bastia, a source close to the club confirmed on Monday. The 32-year-old international forward has been playing at Kuban Krasnodar in the Russian Premier League since July, but is keen to return to France to better his chances of making the French World Cup squad. Cisse, has broken his contract with the Russian club and agreed an 18-month deal with the Ligue 1 side. He will travel to Bastia on Tuesday and train with his new teammates on Wednesday. Cisses previous clubs include Auxerre, Liverpool, Marseille, Sunderland and Queens Park Rangers followed by spells in Qatar and Russia. l
DHAKA TRIBUNE
Sport
15
QUICK BYTES
French striker Nicolas Anelka has agreed not to perform the controversial quenelle salute that has been linked with anti-Semitism, his club West Bromwich Albion announced on Monday. Anelka, 34, sparked a media storm on Saturday when he celebrated the first of his two goals in the 3 3 Premier League draw at West Ham United by putting one arm across his chest and straightening the other. The gesture, popularised by French comedian Dieudonne, has been described by critics in France as an inverted Nazi salute, but Anelka insisted on Twitter that it was merely a dedication to the comic. However, with Englands Football Association having launched an investigation into the matter, West Brom have asked Anelka not to repeat the gesture. AFP
Sri Lankan batsman Rangana Herath is bowled out during the opening day of the first Test against Pakistan at the Sheikh Zayed Stadium in Abu Dhabi yesterday AFP
SCORECARD
Sri Lanka Ist innings D. Karunaratne c Shafiq b Junaid 38 JK Silva c Hafeez b Bhatti 20 K. Sangakkara c Shehzad b Junaid 16 M. Jayawardene c Akmal b Bhatti 5 D. Chandimal c Hafeez b Bhatti 0 A. Mathews st Akmal b Ajmal 91 P. Jayawardene c Akmal Junaid 5 S. Senanayake c Akmal b Junaid 5 R. Herath b Junaid 0 S. Eranga c Akmal b Ajmal 14 S. Lakmal not out 1 Extras: (b 4, lb4 nb 1) 9 Total: (all out; 65 overs) 204 Fall of wickets 1 57 (Karunaratne), 2 67 (Silva), 3 76 (Jayawardene), 4 76 (Chandimal), 5 82 (Sangakkara), 6 104 (Prasanna), 7 124 (Senanayake), 8 124 (Herath), 9 185 (Eranga). Bowling Junaid 20 4 58 5, Ali 16 3 41 0, Bhatti 15 1 65 3 (1nb), Ajmal 14 3 32 2
The European Jewish Congress (EJC) offered on Tuesday to help European soccers governing body UEFA and the English FA to fight anti-Semitism in the sport following Nicolas Anelkas quenelle salute. It has also called on the soccer authorities to ban Anelka, 34, who is being investigated by the English FA, for the gesture. The former France striker celebrated the first of the two goals he scored in West Bromwich Albions 3 3 draw at West Ham United on Saturday by making the gesture, made famous by the French comedian Dieudonne, which is linked to anti-Semitism. The 34-yearold Anelka promised his club on Monday he would not repeat it in future. But EJC president Doctor Moshe Kantor has written to both Michel Platini, the UEFA president, and Greg Dyke, the chairman of the English FA, saying what Anelka did means there can be no let-up in the fight to keep anti-Semitism out of soccer. Reuters
SQUAD
Michael Clarke (capt), George Bailey (vice-capt), Nathan Coulter-Nile, Xavier Doherty, James Faulkner, Aaron Finch, Brad Haddin, Mitchell Johnson, Shaun Marsh, Glenn Maxwell, Clint McKay, James Pattinson, David Warner, Shane Watson.
order with the 2015 ICC Cricket World Cup only 14 months away. Fast-bowler James Pattinson also returns from a long-term back injury. Pattinson has worked hard to get back to full fitness and will be looking to regain his best form, the selector said with an eye on Australias Test tour to South Africa in February and March. l
English Premier League basement dwellers Sunderland have moved quickly to reinforce their frail defence by agreeing a loan move for Fiorentina fullback Marcos Alonso until the end of the season. The 23-year-old former Real Madrid, Bolton Wanderers and Spanish under-19 defender will officially complete his move to Wearside when the January transfer window opens on Wednesday. Marcos is a player that I have known well for a very long time, Sunderland head coach Gus Poyet told the clubs website on Monday. He was desperate to come and play for Sunderland and he is a player I am excited to work with. Poyet has made new signings a priority in the weeks after taking on the role in October following the dismissal of former boss Paolo Di Canio. Sunderland have improved under the Uruguayans guidance, recording wins over Manchester City, Everton and arch rivals Newcastle United but are still rooted in last place, two points away from safety. Reuters
Serena Williams of the US hits a return against Andrea Petkovic of Germany during their first round match of the Brisbane International in Brisbane yesterday AFP The second set was as closely fought as the first, but with games at 2-2 Petkovic let a 40-0 lead slip to surrender the only break of the set. She had a point to break back in the next game, but Williams held on and was never troubled on serve after that, claiming the second set and the match when a Petkovic forehand return hit the base of the net. l
Kallis knew it was time to quit Test India pick new fast bowler
n Reuters, Durban
Jacques Kallis said he knew the time was right to quit the test arena as he bowed out after an 18-year career with victory over India at Kingsmead on Monday. The 38-year-old all-rounder, regarded as South Africas finest cricketer, scored a farewell century on Sunday to help his side to a 10-wicket win and a series triumph in the meeting between the two top-ranked test-playing nations. His 115 in South Africas first innings also took him into third place on the list of all-time test batsmen, with 13,289 runs from 166 tests, behind only Sachin Tendulkar (15,921 runs) and Ricky Ponting (13,378). Kallis surprised many with his decision to quit, catching the cricketing world unawares on Christmas Day with a statement saying the second test against India would be his last but that he would continue in the limited overs format. Usually it has been the other way round for top players. It was a tough call but people say there comes a days when you wake up and you realise it is time to quit, he told reporters. I felt it was the right time and to finish it off in this manner has been incredible, the way the people have come out to support me, the way Cricket South Africa have made it a special game, my team mates have made it a special game. I couldnt have hoped for a better exit. Kallis was lifted briefly on the shoulders of his team mates as he made a postgame lap of honour around Kingsmead, waving to the crowd and at one point stopping to down a can of beer. All his South African team mates wore a tee-shirt with his picture on the front and inscribed on the back was: The only player to score 10 00 runs and take 200 wickets in test cricket. It was fitting he departed in Durban on the same ground he where he started his test career in 1995. I sat here the day before the game and as I looked out over the field, I realised an nothing much has changed (in my 18-year test career). Ive just got a little bit older. I still had the same butterflies and nerves. Kallis was greeted before he went out to bat on Saturday with a guard of honour from the Indian fielders, similar to the one they produced for Sachin Tendulkar when he finished his test career against the West Indies last month. Thanks to the Indian team for that guard of honour, that was really special. Im glad I wasnt facing immediately because it gave me a few seconds to gather my thoughts. It was a really emotional moment, he added. Kallis shed a brief tear too on Sunday when he reached his 45th test century, a figure bettered only by Tendulkars 51, a departure from his usually stoic and quiet demeanour. l
1-0, even though the left-arm spinner did not play any of the two matches. l
DAYS WATCH
Star Sports 1 8:45AM Big Bash T20 Hobart v Melbourne 2:45PM Sydney v Melbourne Stars Star Sports 4 6: 35PM Barclays Premier League 2013/14 Swansea City v Manchester City 11:45PM Manchester United v Tottenham
Test Mahendra Singh Dhoni (capt), Murali Vijay, Shikhar Dhawan, Cheteshwar Pujara, Virat Kolhi, Rohit Sharma, Ajinkya Rahane, Ravichandran Ashwin, Bhuvneshwar Kumar, Umesh Yadav, Mohammed Shami, Ravindra Jadeja, Zaheer Khan, Ambati Rayudu, Wriddhiman Saha, Ishant Sharma, Ishwar Pandey. One-day Mahendra Singh Dhoni (capt), Shikhar Dhawan, Suresh Raina, Virat Kohli, Rohit Sharma, Ajinkya Rahane, Stuart Binny, Ravichandran Ashwin, Bhuvneshwar Kumar, Mohammed Shami, Ambati Rayudu, Ishant Sharma, Ishwar Pandey, Ravindra Jadeja, Amit Mishra, Varun Aaron.
SQUAD
16
DHAKA TRIBUNE
Back Page
Kazi Nazrul Islam Avenue in the capital wears its normal look yesterday as public transport services resume after the three-day disruption centring BNPs attempted March for Democracy RAJIB DHAR
Editor: Zafar Sobhan, Published and Printed by Kazi Anis Ahmed on behalf of 2A Media Limited at Dainik Shakaler Khabar Publications Limited, 153/7, Tejgaon Industrial Area, Dhaka-1208. Editorial, News & Commercial Office: FR Tower, 8/C Panthapath, Shukrabad, Dhaka 1207. Phone: 9132093 94, Advertising: 9132155, Circulation: 9132282, Fax: News-9132192, e-mail: news@dhakatribune.com, info@dhakatribune.com, Website: www.dhakatribune.com
Business
nies between the years 2010 and 2012. Bangladesh Bank found another loan forgery of around Tk4,500 crore approved by the banks board and top management mostly without proper documents and scrutiny. Bangladesh Bank has signed a Memorandum of Understanding (MoU) with
BASIC Bank for its smooth functioning after the debacle. BASIC bank anomalies in loan disbursement has also led the total NPL of the banking sector to higher level as most of the loans of the bank were finally declared classified at the year end. According to Bangladesh Bank, clas-
sified loans were in declining trends until 2011, but suddenly turned around in the year 2012 due to the repeated credit scams. Moreover, the newly imposed strict loan classification and provisioning regulations of the central bank could be treated as one of the major cause for the rise in classified loans.
The classified loans rose to 10% from 6%, with an increase of 3.8% by the end of December 2012 compared to the end of December 2011. The rate of classified loans of the banks has increased this year due to the adverse impact of the ongoing political unrest on business, says a Bangladesh Bank statement. Credit inflow remained shrunk throughout the year as the banks were very restrained in loan disbursement following several loan forgeries in the banking sector. Moreover big borrowers were also reluctant to take loans due to sluggish business environment amid political unrest. Throughout the year, the credit inflow experienced down trends as the statistics show 13.39% in January, 12.73% in February, 10.29% in March, 11.12% in April, 10.61% in May, 8.97% in June, 8.44% in July, 7.11% in August, 7.40% in September, 7.50% in October and 7.83% in November. However, the interbank call money rate remained stable between 7% and 8% throughout the year due to lack of credit demand and excess liquidity in the banks. The countrys foreign exchange reserve hit $13bn milestone in January and $18bn in December 2013 for the first time thanks to the large growth in remittance and export as well. The overall remittance inflow was also seen in lower trends last year as the country received a total of $11.56bn in the first 11 months which was $1.32bn lower from a total of $12.88bn in the corresponding period of the last year. Overall banking business in 2013 was not good due to the political unrest and instability, BRAC Bank Managing Director Mahbubur Rahman told the Dhaka Tribune. As the countrys overall economy has been badly hampered due to the political turmoil, banking sector felt the pinch too, he added. l
2013 1600 850 815 680 560 535 460 403 390 300 310 248 223 211 178
ICAB has always been against the proposed FRA as it is claiming there would be duel standards among the accountants and the auditors if the government enacts any such law
According to the officials, the finance division is now looking into the weaknesses of the recommendations made by Institute of Chartered Accountants of Bangladesh (ICAB) last week. As per the draft law, the violators will be awarded a five-year imprisonment or Tk100,000 fines, or the both. If any person or institution continues to violate, they will have to pay Tk5,000
process of giving the unit holder the NAV per unit in cash with certain percentage deducted for the transaction cost in a predetermined year. NAV of five funds have gone down below their opening NAV in the beginning of 2013. The worst performer among funds in 2013 was the EBL First Mutual Fund, managed by the Race Asset Management Company, with its NAV falling 8%. Some of the ICB-managed funds showed remarkable returns, which is surprising. However, most funds have performed well, said VIPB Asset Management Company Limited CEO Shahidul Islam told the Dhaka Tribune.
NAV/unit (Jan 06, 2013) 168.55 144.91 48.93 79.57 208.22 183.38 27.16 964.04 14.97 63.59 NAV/unit (Dec 29, 2013) 234.59 192.59 57.36 98.06 248.56 223.43 31.21 1,100.50 17.15 64.53 Cash dividends (Taka) 24 20 10.5 12 37.5 24 2 70 1 11
He said the most funds, including those that will be redeemed in 2014, are currently being traded at a discount value. Either the investors dont understand mutual funds or they dont trust the fund managers, which resulted in poor performance of those funds, he said. As of December 29, 2013, ratio of the closing unite prices of all the mutual funds to NAV rose slightly 0.76 times against 0.74 last week. Based on the latest NAV, the market capitalisation of the 41 listed funds stood at Tk3,630 crore while assets under management of the sector stood at Tk4,690 crore. l
Total increase in assets (Taka) 90.04 67.68 18.93 30.49 77.84 64.05 6.05 206.46 3.18 11.94 Return on opening NAV 53% 47% 39% 38% 37% 35% 22% 21% 21% 19% Market share 1% 1% 1% 1% 0% 1% 3% 2% 7% 1% Redemption year 2014 2014 2014 2014 2014 2014 2015 2014 2023 2014
FIs get one more year to adjust single borrower limit n Tribune Report
Bangladesh Bank has extended the deadline by one more year to adjust of the single borrower exposure limit by the financial institutions to facilitate financing operations of their subsidiaries, mainly brokerage houses and merchant banks. The FIs will have to adjust the excess amount of loans to their respective subsidiaries by December 31 next year, said a circular issued yesterday. They have been asked to bring down the limit compulsorily within the specified period without extending the existing loan limit under any circumstance. The decision was taken in the backdrop of severe liquidity crisis in the capital market, said a senior executive of the central bank. l
cell lacks proper manpower and equipments to accomplish the tasks. To provide regular and hassle-free services to taxpayers, we strongly feel establishing a separate unit which will technically assist the team, said an official, who works with eTIN services. The revenue authorities introduced the system on July 1 to boost revenue
collection, reduce hassles and prevent issuance of fake TINs. With the new system, the existing 10-digit TIN will be replaced with 12-digit ones. According to the newly introduced system, computer generated TIN certificates will be issued as soon as the application procedure is completed online. l
Those who are due to submit the returns can submit yet through applying to the Deputy Commissioner of Taxes
Officials estimated the number of returns submitted to be around 8.5 lakh. They said political turmoil badly affected the business, making them unwilling to submit returns. The ongoing political turmoil re-
B2
DSE PE 25% higher in 2013
n
Ibrahim Hossain Ovi
The price to earnings (PE) ratio of shares on Dhaka Stock Exchange (DSE) stood at 15.07 at the end of last year, which is 24.8% higher compared to the previous years PE of 12.07. The PE ratio means a valuation ratio of a companys current share price compared to its earnings per share. Earnings per share (EPS) dropped but market prices of shares increased pushing the overall PE up, said Akter Hossain Sannamat, managing director of Union Capital. The current PE means it is suitable time for investment, but investors have to invest based on the PE of respective company not on the overall market PE, said Akter, who is also vice president of Bangladesh Merchant Bankers Association (BMBA). Price earning (PE) ratio has increased in the last year due to enhanced cash flow in the money market, especially in July-September period, said Prof Abu
DHAKA TRIBUNE
Stock
DSE
953,900.87 23,027,196,397 24,750,192 303 118 167 18 2,058.16 24.95
CSE
99,037.54 2,763,544,046 3,896,618 270 112 153 4 1,978.39 23.98
DSE LOSERS Company Purabi G Insu.A BEXIMCO Ltd. -A National Bank - B FAS Fin. & Inv. Ltd-B Premier Leasing-Z Shahjalal Islami -A ICB AMCL 1st M F A Unique Hotel RL - N CSE LOSERS Company BEXIMCO Ltd. -A National Bank - B FAS Fin. & Inv. Ltd-B Premier Leasing-Z Shahjalal Islami -A ICB AMCL 1st M F A BD Finance-A EXIM Bank-A Closing (% change) -49.92 -46.64 -45.62 -42.13 -41.05 -39.78 -38.78 -38.76 Closing (% change) -54.29 -50.00 -46.61 -45.62 -42.86 -41.05 -39.41 -38.19
Ahmed, who teaches Economics at Dhaka university. He said participation of institutional investors helped increase the PE. Meanwhile, a DSE director wishing anonymity told the Dhaka Tribune: Investors are not putting fresh funds on equities despite having investable PE as they are scared about political unrest. Investors had bitter experience over stock market during the regime of Awami League government in 1996 and the present tenure, which prompted them to abstain from investment. According to DSE statistics, in June 2006, the PE of the premier bourse recorded its lowest point of 10.66 while the overall market PE ratio hit the highest level at 30.58 at the end of February 2010. Meanwhile, the benchmark general index of the Dhaka Stock Exchange reached the highest peak of 8,928 points on December 5, 2010 when the daily turnover was Tk32.49 billion, the highest ever in the history of countrys stock market. l
Average (% change) -53.68 -50.02 -46.14 -45.59 -42.97 -41.16 -39.66 -37.87 Average (% change) -50.30 -46.47 -45.04 -42.12 -40.99 -39.78 -37.61 -39.38
Closing average 25.90 32.41 11.99 15.10 10.02 16.91 24.54 78.35
Yearly high 80.00 76.00 24.00 37.80 19.20 30.00 64.40 138.50
Yearly low 19.00 23.70 9.00 12.00 9.00 12.00 24.10 62.60
Turnover in million 1245.977 14458.474 7344.322 2244.405 865.624 1757.009 473.552 23439.110
Closing average 32.23 11.98 15.07 10.28 16.80 26.80 19.18 12.70
Yearly high 71.50 24.00 37.60 19.00 30.50 61.00 34.30 22.00
Yearly low 25.80 9.50 12.50 9.00 12.80 26.80 15.40 9.40
Turnover in million 3139.142 1561.220 221.189 162.423 175.835 10.717 146.365 444.194
2012
515 242 41 8 221 3
2013
529 256 41 8 221 3
4,090.47 4,266.55 4.30 4,439.60 3,438.90 1,473.01 1,466.25 (0.46) 1,654.22 1,282.42 2,616,730.54 2,403,555.62 2,790,617.90 2,039,135.98 1,001,084.90 (35.87) 238 4,206.24 12,884.27 1,157.03 21,689 27.83 91 301.38 27.49 240 116 165 15 17 2 2,403,555.62 2,647,790.83 2,731,641.83 2,160,241.18 952,742.08 (4.83) 238 4,003.12 12,946.16 1,015.72 22,989 5.99 97 240.93 29.05 253 128 153 8 22 2
Opening Index (28.01.2013) Closing Index (30.12.2013) % of change Highest Index (16.07.2013) Lowest Index (29.04.2013)
Opening Market Cap. (01.01.2013) Closing Market Cap. (30.12.2013) Highest Market Cap (21.11.2013) Lowest Market Cap (01.04.2013) Total Turnover in Tk. mn % of Change Total Trading Days Daily Average Turnover Highest Turnover (09.07.2013) Lowest Turnover (21.01.2013)
IPO Issue size Tk. in mn % of Total Value Stock Dividend Tk. in mn % of Total Value Right Tk. In mn % of Total Value Total Value added
Securities added through IPOs % of Total No of Securities Securities added through Stock Dividend % of Total No of Securities Securities added through Right Issue % of Total No of Securities Total Securities added
Addition of Securities
17 15,562.46 12,081.09 827.95 59,020.77 1,817,515,512 4.67 4,718,426,807 12.14 497,909,036 1.28 7,033,851,355 18,175.16 4.54 47,973.40 11.98 4,979.09 1.24 71,127.64 14 18,175.16 4.54
12 13,377.24 8,305.00 870.00 56,165.67 1,663,979,299 3.79 3,141,799,502 7.15 180,303,953 0.41 4,986,082,754 16,639.79 3.69 31,418.00 6.98 1,803.04 0.40 49,860.82 17 16,749.79 3.72
Listing
Turnover
Listed Stocks and Bonds with DSE Paid up Capital Tk. in mn % of Total value
Dividend Statistics
Total Turnover in Volume (mn) % of Change Daily Average Turnover in Volume Highest Turnover in Volume (09.07.2013) Lowest Turnover in Volume (06.05.2013)
Volume
Limit of dividend (Only Cash) Above 100% Above 50% up to 100% Above 30% up to 50% Above 20% up to 30% 10% up to 20% Below 10%
AGM
No. of co. declared cash dividend No. of company declared stock dividend No. of company declared right Issue No. of co. which didn't declare dividend No. of co. did not held AGM
Buy Sell Net Total % of Total Traded Value*** Market Cap. To GDP Ratio Market P/E * IPO value with Premium ** Subscription amount of 11 Securities *** Up to November 2013
DSE GAINERS
Million Taka 79,521 47,197 39,933 82,553 41,876 141,435 862 154,146 94,982 146 7,332 9,530 7,147 38,685 14,958 24,411 27,013 57,730 53,123 29,780 383
% change 8.3% 5.0% 4.2% 8.7% 4.4% 14.8% 0.1% 16.2% 10.0% 0.0% 0.8% 1.0% 0.8% 4.1% 1.6% 2.6% 2.8% 6.1% 5.6% 3.1% 0.0%
Million Taka 10643 4566 3403 7105 5157 11874 0 16365 10562 78 802 1403 619 3129 2374 867 1830 5268 7540 5332 201
CSE
% change 10.7% 4.6% 3.4% 7.2% 5.2% 12.0% 0.0% 16.5% 10.7% 0.1% 0.8% 1.4% 0.6% 3.2% 2.4% 0.9% 1.8% 5.3% 7.6% 5.4% 0.2%
Million Taka 90,164 51,763 43,336 89,658 47,033 153,308 862 170,511 105,545 223 8,134 10,933 7,766 41,813 17,333 25,278 28,843 62,998 60,663 35,112 584
Total
% change 8.6% 4.9% 4.1% 8.5% 4.5% 14.6% 0.1% 16.2% 10.0% 0.0% 0.8% 1.0% 0.7% 4.0% 1.6% 2.4% 2.7% 6.0% 5.8% 3.3% 0.1%
Company Rahima Food -Z CVO PetroChem RL Z Northern Jute -Z Bangas -A Desh Garments -B Al-Haj Textile -A Legacy Footwear -A Usmania Glass -A Marico BD Ltd-A CSE GAINERS Company Rahima Food -Z CVO PetroChem RL Z Bangas -A Marico BD Ltd-A Legacy Footwear -A Usmania Glass -A Hakkani P& Paper -B Anwar Galvanizing-B BATBCL -A ApexAdelchi Ftr -A
Closing (% change) 287.43 259.78 205.73 152.09 126.45 117.61 103.79 101.71 100.42
Average (% change) 284.70 256.12 203.80 151.61 127.38 117.26 102.17 103.55 99.93
Closing average 67.40 608.71 58.33 477.35 62.53 72.87 42.86 142.36 762.00
Closing 67.80 614.50 58.70 477.20 62.50 72.90 43.00 141.60 763.40
Yearly high 92.90 943.70 60.50 734.00 108.00 121.00 51.10 193.00 914.00
Yearly low 13.00 87.00 16.20 156.00 20.00 30.00 12.40 64.00 299.00
Turnover in million 1420.312 4957.156 3.041 4200.787 328.043 1331.280 900.207 1580.558 2100.881
Closing (% change) 269.36 226.83 150.00 123.43 100.47 97.14 97.14 86.47 86.07 73.91
Prepared exclusively for Dhaka Tribune by Business Information Automation Service Line (BIASL), on the basis of information collected from daily stock quotations and audited reports of the listed companies. High level of caution has been taken to collect and present the above information and data. The publisher will not take any responsibility if any body uses this information and data for his/her investment decision. For any query please email to biasl@bol-online.com or call 01552153562 or go to www.biasl.net
Average (% change) 269.83 226.83 175.59 123.43 99.86 98.97 104.17 86.59 90.48 73.91
Closing average 63.87 562.80 468.50 780.00 42.77 139.28 35.73 31.72 1600.00 400.00
Closing 63.90 562.80 468.50 780.00 42.90 138.00 34.50 31.70 1600.00 400.00
Yearly high 92.90 972.40 714.70 950.00 53.90 192.00 43.20 37.50 1700.00 454.00
Yearly low 13.00 90.00 162.50 325.00 12.70 66.20 16.20 12.70 850.00 215.00
Turnover in million 297.335 175.687 163.655 24.399 747.316 117.542 48.851 109.839 1806.347 57.287
TURNOVER TABLE
Name UNITED AIR A BD Submarine Cable-A Grameenphone-A Meghna Petroleum -A Unique Hotel RL - N R. N. Spinning-A Summit Purbanchol Power-N Square Pharma -A Generation Next Fashions-A Padma Oil Co. -A Titas Gas TDCLA Orion Pharma-N Olympic Ind. -A Jamuna Oil -A BEXIMCO Ltd. -A Envoy Textiles Ltd-N Argon Denims Limited-A Active Fine Chem.-A Tallu Spinning -A Aftab Auto.-A Golden Harvest Agro-N UCBL - A aamra technologies-A Delta Life Insu. -A LankaBangla Fin. -A BSC A Premier Cement-N CMC Kamal Tex. -A National Bank - B Golden Son -A Malek Spinning-A Saiham Cotton-A ConfidenceCement A Keya Cosmetics -A BATBCL -A Barakatullah E. D.-A Bengal Windsor-N Khulna Power-A HeidelbergCement -A DESCO Ltd. -A Summit Power -A BSRM Steels-A LafargeS Cement-Z Singer BD -A Sun Life Insurance-N Paramount Textile Ltd.-N AIMS First -A Maksons Spinning-A Delta SpinnersA Familytex (BD) Ltd.-N
DE LISTING 2013
Ocean Containers-A ICB AMCL1stMF A 1st BSRS M F A
Turnover value in million Taka 34917.36 34363.35 28754.95 27520.69 25931.63 24780.86 24524.37 24131.57 21418.45 20755.84 19777.87 19111.40 18914.10 18797.63 17597.62 15566.88 15122.75 14112.47 12683.22 12580.29 12148.46 10992.13 10668.20 10307.49 10222.92 10195.26 10189.72 8907.76 8905.54 8860.95 8833.77 8662.85 8636.51 8111.02 7983.95 7927.30 7808.44 7017.62 6722.28 6679.58 6534.61 6436.73 6354.33 6332.71 6256.10 6053.79 6025.34 5984.18 5884.14 5784.73
% of total turnover 3.32 3.26 2.73 2.61 2.46 2.35 2.33 2.29 2.03 1.97 1.88 1.82 1.80 1.79 1.67 1.48 1.44 1.34 1.20 1.19 1.15 1.04 1.01 0.98 0.97 0.97 0.97 0.85 0.85 0.84 0.84 0.82 0.82 0.77 0.76 0.75 0.74 0.67 0.64 0.63 0.62 0.61 0.60 0.60 0.59 0.57 0.57 0.57 0.56 0.55
Average turnover 20.27 216.46 193.54 247.04 99.80 32.85 64.78 197.33 28.93 326.09 82.55 68.88 168.73 227.20 43.83 54.14 52.04 83.88 35.39 106.90 44.67 21.05 37.63 469.55 57.10 507.30 104.84 31.15 14.91 50.54 26.42 28.31 127.29 28.46 1164.84 34.55 53.78 52.94 377.16 80.73 42.26 69.19 32.93 197.03 74.16 57.60 46.88 16.81 36.86 41.26
DSE close 16.40 168.10 200.90 211.00 78.00 36.90 61.60 190.20 36.90 252.30 73.80 58.70 147.10 191.80 32.20 54.30 94.90 82.30 38.10 90.70 43.90 25.10 35.90 266.70 66.50 413.00 99.60 32.60 11.80 65.60 26.80 24.90 123.90 27.70 1603.10 33.80 62.90 49.10 380.70 58.40 38.40 68.70 33.50 186.80 57.90 51.70 40.90 19.90 40.90 58.10
DSE % change -21.90 26.49 14.80 33.12 -38.19 8.21 0.00 12.81 7.27 34.56 13.02 0.00 49.49 7.45 -50.00 3.63 0.00 13.20 48.25 6.71 39.81 6.36 -2.18 -94.17 12.71 51.01 0.00 -2.69 -46.61 29.39 6.77 -12.01 18.11 -9.48 90.96 3.68 0.00 -1.41 43.82 -19.00 -27.95 1.18 1.82 13.83 0.00 0.00 -14.26 11.80 19.59 0.00
DSE previous close 21.00 132.90 175.00 158.50 126.20 34.10 0.00 168.60 34.40 187.50 65.30 0.00 98.40 178.50 64.40 52.40 0.00 72.70 25.70 85.00 31.40 23.60 36.70 4572.00 59.00 273.50 0.00 33.50 22.10 50.70 25.10 28.30 104.90 30.60 839.50 32.60 0.00 49.80 264.70 72.10 53.30 67.90 32.90 164.10 0.00 0.00 47.70 17.80 34.20 0.00
DSE year high 26.00 340.00 247.20 325.00 138.50 44.00 97.80 245.90 41.00 492.00 104.90 91.00 258.00 290.00 76.00 63.80 102.00 106.00 47.10 140.00 84.00 27.00 49.40 8500.00 71.90 736.25 152.10 39.00 24.00 65.90 32.90 34.40 158.90 36.00 1800.00 47.00 69.90 61.00 464.00 97.50 60.00 88.00 36.70 243.00 106.40 72.00 59.40 23.00 46.00 72.90
DSE year low 13.70 104.00 135.00 141.00 62.60 22.60 39.40 151.00 18.00 155.00 60.00 48.00 81.00 149.30 23.70 37.00 28.60 46.50 17.50 61.00 28.20 14.50 21.50 225.80 30.70 186.00 65.40 21.00 9.00 34.70 14.50 21.70 83.00 20.40 820.00 22.40 40.30 40.00 220.00 54.00 26.90 41.60 28.40 112.00 44.70 44.00 33.60 11.50 25.00 27.50
CSE close 16.40 168.00 203.50 210.60 78.00 36.90 61.90 190.50 37.20 252.20 73.20 58.70 147.90 191.80 32.10 54.20 93.10 83.00 38.20 90.10 43.90 25.20 36.00 267.10 66.60 414.00 100.00 9.40 11.90 65.80 26.90 25.10 124.00 27.50 1600.00 33.70 62.90 49.00 370.40 57.90 38.50 68.50 33.00 188.10 58.00 51.80 40.30 19.90 40.90 59.10
CSE % change -21.90 26.79 16.35 34.05 -38.10 7.89 6.54 13.12 7.20 34.79 12.44 9.11 50.15 8.12 -49.92 3.04 38.75 15.12 48.64 6.12 18.97 5.88 -2.17 -93.48 12.69 51.37 -2.06 0.00 -46.64 28.77 7.60 -11.62 18.10 -10.13 86.07 3.69 36.15 -1.61 47.16 -17.76 -27.36 0.74 0.00 16.04 0.35 0.00 -15.87 11.17 20.29 38.41
CSE previous close 21.00 132.50 174.90 157.10 126.00 34.20 58.10 168.40 34.70 187.10 65.10 53.80 98.50 177.40 64.10 52.60 67.10 72.10 25.70 84.90 36.90 23.80 36.80 4095.00 59.10 273.50 102.10 9.40 22.30 51.10 25.00 28.40 105.00 30.60 859.90 32.50 46.20 49.80 251.70 70.40 53.00 68.00 33.00 162.10 57.80 0.00 47.90 17.90 34.00 42.70
CSE year high 25.50 342.00 247.00 319.50 130.00 42.70 97.70 245.00 41.00 489.00 99.90 92.00 255.90 300.00 71.50 63.80 100.00 104.00 47.90 139.00 85.00 26.90 49.50 7799.00 69.90 739.50 151.90 0.00 24.00 66.00 32.70 35.90 158.70 35.80 1700.00 44.40 69.90 60.90 464.00 97.00 59.50 86.90 36.50 242.00 110.00 72.00 59.00 22.20 46.00 72.80
CSE year low 14.90 110.00 137.00 141.00 16.50 23.10 41.20 150.00 18.40 153.00 59.00 49.20 84.00 155.00 25.80 36.30 28.80 47.30 18.50 61.00 29.00 15.00 23.00 228.30 30.00 191.30 65.40 0.00 9.50 35.00 15.40 21.40 82.00 20.60 850.00 22.50 39.10 41.40 222.00 54.00 28.80 43.80 28.00 119.60 45.00 44.20 34.00 11.70 26.00 27.50
Last AGM date 04 Dec-13 26 Oct-13 10 Apr-13 04 Jan-14 24 Jun-13 03 Apr-12 28 Apr-13 25 Sep-13 11 Apr-13 15 Feb-14 24 Dec-13 24 Jun-13 26 Dec-13 25 Jan-14 29 Jun-13 21 Dec-13 23 Apr-13 18 Apr-13 12 Dec-13 23 Dec-13 12 Dec-13 06 Jun-13 22 Dec-13 19 Sep-05 31 Mar-13 08 May-13 14 Dec-13 17 Jun-13 09 Jun-13 27 Jun-13 24 Dec-13 30 Oct-13 12 May-13 01 Nov-13 01 Apr-13 13 Nov-13 08 Dec-13 19 Jun-13 09 May-13 04 Jan-14 28 Apr-13 30 Apr-13 13 Jun-13 08 May-13 08 Sep-13 30 Dec-13 02 Sep-13 28 Mar-13 28 Dec-13
Last dividend 12%B 20%, 15%B 140% 70%, 20%B 25% 35%B 30%B 25%, 30%B 20%B 90%, 10%B 35% 20%, 20%B 10%, 50%B 90%, 10%B 15%B 17%, 3%B 20%B 25%B 15%B 8%, 12%B 10%, 5%B 10% 5%, 10%B 2100%B 10%B 10% 40% 15%B 6% 5%, 15%B 10%B 10% 20% 10%B 500% 10%, 5%B 14%, 8%B 12.5%, 12.5%B 50% 10%, 15%B 20%B 10%, 5%B No Div. 125%, 25%B 5%B 12%B 25% 5%B 10% No Div.
Year end 0613 0613 1212 0613 1212 1211 1212 03/13 1212 06/13 0613 1212 0613 0613 1212 09/13 1212 1212 0613 0813 0613 12122 0613 1212 1212 0612 06/13 1212 1212 1212 0613 0413 1212 0613 1212 0613 0613 1212 1212 06/13 1212 1212 1212 1212 1212 0613 0613 0912 0613 1212
NAV per share 12.87 26.38 26.26 59.26 86.29 16.58 23.34 37.18 15.15 64.31 46.26 68.68 14.73 57.32 86.74 37.86 38.86 13.89 16.17 50.81 24.36 21.72 19.91 189.4 31.07 565.82 32.6 19.31 15.76 28.7 43.48 23.62 90.76 21.54 117.22 19.43 24.3 15.86 111.5 31.27 19.26 19.53 7.22 45.74 0 17.91 15.7 20.55 26.84 14.68
EPS audited 1.1 5.82 12.96 21.34 4.02 2.8 3.81 6.93 1.68 25.11 9.2 5.02 5.23 19.83 3.24 3.1 1.89 3.23 1.75 3.6 2.31 1.9 1.33 38.53 1.61 1.77 5 1.37 1.05 3.7 2.81 1.92 6.23 1.55 65.69 1.48 3.85 4.73 22.85 2.34 3.17 3.06 1.6 9.99 0 1.89 3.02 0.16 3.06 3.72
PE audited 14.9 28.9 15.5 9.9 19.4 13.2 16.2 27.4 22.0 10.0 8.0 11.7 28.1 9.7 9.9 17.5 50.2 25.5 21.8 25.2 19.0 13.2 27.0 6.9 41.3 233.3 19.9 23.8 11.2 17.7 9.5 13.0 19.9 17.9 24.4 22.8 16.3 10.4 16.7 25.0 12.1 22.5 20.9 18.7 27.4 13.5 124.4 13.4 15.6
Latest EPS 1.52 3.8 10.57 25.08 3.56 6.11 5.35 10.44 2.25 27.28 8.64 4.4 6.32 20.4 1.03 3.1 3.33 5.25 3.56 3.6 2.04 2.44 1.24 0 2.75 -21.77 4.72 1.52 -3.63 3.35 2.6 1.8 7.44 2.12 76.51 2.08 4.52 5.89 29.19 0.24 3.59 4.37 1.63 9.35 0 3 3.02 0.55 1.16 8.29
PE latest 10.8 44.2 19.0 8.4 21.9 6.0 11.5 18.2 16.4 9.2 8.5 13.3 23.3 9.4 31.3 17.5 28.5 15.7 10.7 25.2 21.5 10.3 29.0 24.2 -ve 21.1 21.4 -ve 19.6 10.3 13.8 16.7 13.1 21.0 16.3 13.9 8.3 13.0 243.3 10.7 15.7 20.6 20.0 17.2 13.5 36.2 35.3 7.0
Latest report Q1 Q1 Q3 Q1 Q3 Q3 Q3 HY Q3 Q1 Q1 Q3 Q1 Q1 Q3 Ad Q3 Q3 Q1 Ad Q1 Q3 Q1 Q3 Q3 Q1 Q3 Q3 Q3 Q1 HY Q3 Q1 Q3 Q1 Q1 Q3 Q3 Q1 Q3 Q3 Q3 Q3 Q1 Ad Q3 Q1 Q3
DHAKA TRIBUNE
Business
B3
Dollar down in Asian trade n AFP, Singapore
The US dollar eased against the yen and other Asian currencies in thin Asian trade yesterday as investors stood on the sidelines with few leads on the last day of the year. The greenback bought 105.04 yen in Singapore afternoon trade, down from 105.11 yen in New York and 105.41 earlier Monday - its strongest since October 2008. The euro fetched $1.3794 from $1.3800 in US trade, and eased to 144.83 yen from 145.05 yen. Financial markets in Tokyo, Manila, Seoul, Bangkok and Jakarta were closed for public holidays. "There is very little propping up up the market at the moment, especially with Japan closed. Investors are taking up offsetting positions," Desmond Chua, market analyst at CMC Markets in Singapore, told AFP. Chua said a US consumer confidence report to be released later Tuesday will be in focus when markets in New York open for a full-day session before the New Year's Day holiday. The dollar had slipped against the euro and other major currencies Monday after data showed US pending home sales rose 0.2% in November, the first rise in five months but below the 1.5% increase projected by analysts. l
BTRC and AMTOB take the initiative n Ibrahim Hossain Ovi with the sponsorship from four mobile Raising capital through issuing rights operators shares seen over 79% fall in 2013 due Bangladesh Telecommunica- to tightening rules and increased cash n Muhammad Zahidul Islam tion Regulatory Commission (BTRC) flow in the money market.
The telecom regulator BTRC and Association of Mobile Telecom Operators of Bangladesh (AMTOB) yesterday honoured disabled freedom fighters and family members of martyred freedom fighters by presenting 3G-enabled mobile handsets. Vice-chairman Md Giashuddin Ahmed and freedom fighters Hemayet Uddin Birbikrom and MA Mazed also spoke on the occasion. Earlier, the state-owned operator Teletalk gave freedom fighters 3G-connected SIM cards with Tk500 free talk time per month. AMTOB sources said the mobile handset vendor Symphony would provide technical supports to the handsets and give training on how to use the handsets. Referring to the speech of BNP leader Khaleda Zia, Shipping and Liberation War Affairs Minister Shahjahan Khan said: She will rename not only Gopalganj, but also the whole country as Banglastan as per the name of Pakistan. Its not new for BNP. Its founder Ziaur Rahman, who usurped power after 1975 after the assassination of father of the nation, changed the name of Bangladesh Betar to Radio Bangladesh like Radio Pakistan and also of Chittagong Port to Port of Chittagong like Port of Karachi. After taking over state power, Ziaur Rahman rehabilitated the people like Sabur Khan (razakar and then Muslim League leader.) Later, his wife (Khaleda Zia) made Nizami and Muzahid (convicted of war crimes) ministers. l
Four mobile phone operators Grameenphone, Robi, Airtel and Banglalink sponsored a total of 323 mobile handsets with 3G SIM cards. Telecommunications Minister Rashed Khan Menon distributed the handsets and SIM cards at a function at the National Museum auditorium in Dhaka. Information Minister Hasanul Huq Inu, Shipping and Liberation War Affairs Minister Shahjahan Khan, Telecom Secretary Md Abubakar Siddique, BTRC Chairman Sunil Kanti Bose and AMTOB Secretary General TIM Nurul Kabir were also present. Mobile operators are proud to be a part of efforts to honour national heroes, said TIM Nurul Kabir.
'Listed firms restrained from issuance of rights share fearing lower price than expected, which caused decline in rights offering'
market regulator, he added. A rights issue is an issue of additional shares issued by a company to raise capital under a seasoned equity offering. Rights shares are issued only for a short period of time after which they expire.
In rights share offering system, only existing share holders can buy stocks. In November 2011, the Securities and Exchange Commission (SEC) amended rights issue rules to protect investors interest and to bring transparency. As per the latest rights shares issue rules, no issuer of a listed security shall price its rights share above par value if it has not been in commercial operation for immediate past three years having a track record of profitability. l
A general view of centre Tianjin taken from Tianjin World Financial Center debt that has high interest rates, and encouraging private capital into infrastructure projects. It will also step up spot checks on local government financing vehicles. In a New Year message on the bank's
REUTERS
website, www.pbc.gov.cn, People's Bank of China Governor Zhou Xiaochuan said monetary policy would be
Turkey's outgoing Economy Minister Zafer Caglayan (centre) talks during a handover ceremony as he is flanked by newly named minister Nihat Zeybekci (seated L of Caglayan) and former European Affairs Minister Egemen Bagis REUTERS Since taking office, the Islamic-rooted government has reined in the military with a series of court cases against top army brass. An AKP lawmaker suggested at the weekend that the government could change the law to pave the way for retrials of hundreds of convicted army officers but Arinc said Monday such a move was not on the agenda. l
B4
DHAKA TRIBUNE
Business
throughout the year. He however didnt think the political turmoil was the only major factor causing market fall. Siddiqui said: If you take a look at the past history of the market reaction to the political situation like in 2006, the market was unperturbed. I cannot say the present political turmoil is also affecting the market significantly. But, then, in these days, the declining turnover, which was probably caused by the political destabilisation, is the reflection of eroding confidence on the market. Former finance adviser to last caretaker government Mirza Azizul Islam said: Firstly, the market has undoubtedly been undervalued if the current price-earning-ratio is taken into account. It means that the investors are to regain since the 2010 market crash. In 2013, price-earning-ratio stood at 15, according to the Dhaka Stock Exchange. Investors are yet to heal the wounds of that crash, which reflects in the lower turnovers and flat growth of indices, said the ex-adviser. Secondly, he continued, those who suffered losses were promised to be
Looking back
An analysis of Dhaka Stock Exchange turnover data shows that the volumes still hover around Tk1,000 crore. Before the bubble year of 2010, the turnover in 2009 was Tk1,475 crore and in 2008 it was Tk667 crore. Exceptionally, the 2010 turnover reached an astounding amount of Tk4,009 crore, and then fell sharply, but not to the levels of before 2009. In the just concluded year, the
given compensation and other stimulus package, but are yet to be implemented. He said thirdly the political turmoil has been aggravated now, creating a mess. Amid negative business climate, people cannot expect reasonable dividends because many enterprises will probably make losses, he said, adding that it is one of the reasons that investors found not enough interest to bet on stocks. So, it was certainly a disappointing year. Looking back at the past 12 months, there wasnt a big event that investors could cling to, said Yawer Sayeed, a leading fund manager. Only big event was the implementation of demutulisation of stock exchanges but it has no relation with the price movement. Instead, it was a rally or slump and junk stocks that gained momentum. The market failed to overcome the shock of the debacle, said Yawer Sayeed. Investors were, however, increasingly worried over the tense political situation. It could take away steam out of the market further, signs of which
Looking ahead
The investors see no glimmer of hope in the year which just has begun as the political turmoil lingers with apparently no possibility of tranquility very soon. Bangladesh Bank estimated the gross domestic product is likely to grow at the rate between 5.7% and 6%, much lower than the budgetary projection of 7.2% for the current fiscal. Earlier, International Monetary Fund also lowered growth forecast at 5.5% and the World Bank at 5.7%. If political turmoil continues, confidence will be dented further, said Faruq Ahmed Siddiqui, adding that the situation will lead to generate another disastrous year for everything including the stocks. He put emphasis on the immediate solution to the current political crisis for the benefit of the market and the whole economy. The economic slowdown means no new investment, which might have an adverse impact on the initial public of-
fering market, Faruq Ahmed observed. Mirza Azizul Islam, a former BSEC chairman also, echoed Siddiqui, saying the prospect of 2014 depends to a great extent on how soon the political crisis is resolved. Everybody is waiting to invest after political stability returns. Other factors to help the market revive include implementation of incentive packages, effective behavior of the regulator and the board for demutulised stock exchanges, regeneration of confidence among investors through monitoring and taking punitive actions against errant companies and manipulators. Over the year, BSEC has made some changes to its regulatory framework and taken actions, which are yet to bring results in the market, said Mirza Aziz. The commissions ratified some new rules and modified some, including book-building, private placement of debt securities, mutual funds and corporate governance. Former finance adviser said the lowering of GDP growth forecast and the slow-down of capital machinery import do no bode well for the entire economy including the bourses. l
A workers carries bananas to load them into a cart after weighing them at a wholesale market in the southern Indian city of Kochi November
REUTERS
The number of farmers moving away from the traditional supply cycle is rising every year, forcing traders and exporters to adjust. We have changed our business model with more spot month basis soymeal sales than longer term, Nitesh Shahra, president of the refinery division at Ruchi Soya, told Reuters. It is a step back from what is happening in the world, but we have to live with the situation. Spot sales are conducted for immediate settlement, whereas futures contracts involve selling goods for delivery some months ahead. The shift does bring some advantages for Ruchi Soya, which crushes soybeans bought from farmers to produce oil and meal that it mainly exports. Since now it is more spot-to-spot trade, you dont need to keep inventory. So cost of inventory and risk of carrying inventory will go down ... hedging requirement is also going down, Shahra said.
'We have changed our business model with more spot month basis soymeal sales than longer term, Nitesh Shahra, president of the refinery division at Ruchi Soya, told Reuters. It is a step back from what is happening in the world, but we have to live with the situation'
Nasty surprise
In August and September oil mills aggressively struck deals to export soymeal as soybean prices were around 3,400 rupees per 100 kg, and were expected to fall with new season supply starting from October. But when the mills started to execute exports orders, soybean prices jumped above 3,900 rupees as farmers held back supplies. Just to fulfil soymeal export obligations some oil mills bought soybean at a higher price, but they incurred losses from the deals, said Rajesh Agrawal, coordinator of the Soybean Processors Association of India (SOPA).
Indias imports and exports of farm goods have become more volatile as a result of the shifting supply patterns. Soybean supplies in the first half of the 2012/13 marketing year ended on September 30 fell 7% from a year ago in top producing Madhya Pradesh, while in the second half they jumped 85%. Consequently Indias soymeal exports in the first quarter of the year fell nearly 27% from a year ago, but in the last quarter of the year jumped 157%. Indias natural rubber imports in the September quarter more than doubled from a year ago due to a domestic supply crunch. You dont know when you will get nasty surprise, said an official at the Automotive Tyre Manufacturers Association. In July tyre companies were not getting enough rubber despite paying a nearly 10% premium over global prices. They were forced to increase rubber imports. In September and October, farmers holding back of supplies of onions, a staple of many Indian dishes, forced the government to organise
emergency supplies from China and Iran to calm record prices ahead of elections in five states. With the exception of highly perishable commodities such as some vegetables, farmers have started holding back almost every crop, from pulses to cotton to rubber, says Nitin Kalantri, a pulses miller based at Latur in Maharashtra. As a result, he struggles to operate his mills at full capacity.
Institutional credit
Jagdish Rawalia, another prosperous farmer from neighbouring Sanawadia village, said there was less risk in delaying sales now that farmers mostly borrow from banks that charge around 4 percent interest per year. Just five years back the interest rate was 16%, said Rawalia. Moneylenders were charging much more than that. Then there was more risk and less incentive in holding back supplies. Farmers usually borrow ahead of sowing to buy seeds and fertiliser. Private money lenders had been charging interest as high as 30% per year from farmers in the absence of institu-
tional credit. So after harvesting farmers were quickly selling their crops to repay the loans. In 2008 the government waived agriculture debt of millions of farmers who had defaulted, reopening access to bank loans for many such farmers in a populist move that, along with an interest subvention scheme, made new credit cheaper. More and more farmers will borrow from institutions like banks and co-operative societies in coming years as the banking network is expanding in rural areas, said a senior official at National Bank for Agriculture and Rural Development. The government expects agriculture lending to rise to more than 7tn rupees in the 2013/14 financial year ending on March 31, compared with 2.5tn in 2007/08. Farmers are using profits to build spacious new houses, where some portion can be used for storing crops. Many farmers dont need to spend money to store crops in warehouses. They keep it in houses, says Agrawal of SOPA. And this is just beginning. Industry officials believe the traditional supply pattern will change further as smaller farmers have started following their more prosperous peers. This trend is going to continue ... for farmers now it has become a rule-of-thumb that prices will rise in the lean supply season, says Shahra at Ruchi Soya. l