Bangladesh is showing a
brilliant performance
Bangladesh has been victim of devastating flood twice in the last year. A
severe cyclone (Sidr) swept through Bangladesh in November 2007 which left
over 10000 dead and half a billion USD in damage. Yet economic data shows
that Bangladesh is on track in its expected growth. That's almost like a
miracle.
The Ex****t Promotion Bureau in Bangladesh re****ted that Bangladesh
ex****ts in March 2008 have increased by 21.25 per cent from the past year
to
$1.22 billion. In July to March, the first three quarters of the 2007-2008
fiscal year, ex****t earnings grew 12.4 per cent to $10.16 billion. Ex****t
volume increased by 13.93 per cent. Earnings from knitwear garments in the
nine-month period grew by 17.34 per cent to $3.9 billion. Ex****ts of woven
garments increased 7.54 per cent to $3.8 billion.
According to the Bangladesh central bank statistics, Bangladesh
expatriates sent home a record remittance i.e. US$6.449 billion in the
first
10 months of this fiscal year. It got a 31.48 per cent growth over the
corresponding period of the last fiscal year. The remittances from
Banglade**** nationals working abroad were estimated at $800.20 million in
April 2008. In March, the remittance was $808.72 million.
At least 295,155 Banglade****s found jobs in over 100 countries during
the
January-April period this year. This is up from 192,725 in the same period
last year, according to the Employment and Training (BMET) statistics
published by the Bangladesh Bureau of Manpower.
A recent re****t indicated that banks in Bangladesh are allowed to open
small business centres in Bangladesh. It suggested that Banglade****
expatriates are now increasingly using banking channels to remit money as
banks have become efficient in delivering such money. The Bangladesh Bank
recently decided to allow the commercial banks to partner with the
non-governmental organisations (NGO) having branches all over the country
for disbursement of remittances, particularly in the rural areas.
In another re****t published earlier this month, Bangladesh's central
bank
said that the economy could grow as much as 6.2 per cent in the current
fiscal year, sup****ted by a rebound in agricultural output following
natural
disasters and a pick-up in ex****ts growth.
In few recent re****ts on Bangladesh ****p-breaking industries, it has
been
emphasised that Bangladesh has emerged as a major ****p-breaking
destination
in South Asia. An average of 150-200 vessels are being scrapped in
Bangladesh every year, according to one re****t. Bangladesh is getting a
competitive edge over its rival in neighbouring countries like India and
Pakistan. Both India and Pakistan generate around 4,000 tonnes of scrap
steel per vessel, while Bangladesh generates 12,000-15,000 tonnes of scrap
steel per vessel, according to the data provided by the re****t. A high
official of the ****p Recycling Industries Association of India have said
in
a newspaper interview that 'Indian ****p-breakers are losing business to
Bangladesh'.
There are some downsides as well. Bangladesh has been under serious
rice
shortage and price has climbed as much as 50 per cent in recent months.
Bangladesh was seriously affected by the worldwide rice shortage. Being in
the list of top five rice-producing countries did not help Bangladesh
much.
That's because Bangladesh consumes more rice than it produces since rice
is
the primary food here. Bangladesh has to im****t a large sum of rice each
year. Natural disasters made this worse. Even living in Silicon Valley, I
can feel the heat as my local Costco have run out of rice for weeks. Other
shops have also increased the price and put a limit on how much each
customer can buy. I can imagine the situation in Bangladesh where 35 per
cent people live below dollar-a-day poverty line. Yet the new harvesting
season is giving them a hope.
Government of Bangladesh has just banned ex****t of rice for six months
except for aromatic varieties. Official says that the ban came after the
Ex****t Promotion Bureau (EPB) revealed last week that a group of ex****ters
have cashed in on the government's free rice ex****t policy by ****pping in
record amount of the staple this fiscal year.
Bangladesh factory owners and officials have come into rescue by
providing subsidised food to low-paid workers. Workers in Bangladesh are
assumed to spend about 70 per cent of their income on food. 'The
Bangladesh
Knitwear Manufacturers and Ex****ters Association will provide rice at
two-thirds of the market price to a quarter of its 800,000 employees', a
local official said to a re****ter.
The central bank (Bangladesh Bank) re****ted that Bangladesh's overall
im****t grew by 24. 37 per cent during the first nine months of the current
fiscal year (July 2007-June 2008) over the same period of the previous
fiscal. 'The overall im****t increased during the period due mainly to
higher
im****t of essential items including food grains, industrial raw materials
and petroleum products to meet the domestic demand,' a senior official of
the Bangladesh Bank have said to a news re****ter.
Looking over both pros and cons from the re****ts coming from
Bangladesh,
it seems that Bangladesh have been passing difficult times. But at the
same
time, all economic data pointers are suggesting that the overall growth is
marching forward in full swing. If only its political leaders now realise
the op****tunity that lies ahead and abandon the path of corruption and
instability like strike, Bangladesh should embrace a promising future. The
real question is, will they realise it and come clean?
GM Solaiman
Silicon Valley, California, USA
"Torpedo" <guest@[EMAIL PROTECTED]
> wrote in message
news:48265273$0$28359$c30e37c6@[EMAIL PROTECTED]
> ...in international harems.
>
> "VognoDuut167" <dawn@[EMAIL PROTECTED]
> wrote in message
> news:1Kudnf_VY99t0rvVnZ2dnUVZ_qPinZ2d@[EMAIL PROTECTED]
> > Bangladesh is showing a
> > brilliant performance
> >
> > Bangladesh has been victim of devastating flood twice in the last
year.
A
> > severe cyclone (Sidr) swept through Bangladesh in November 2007 which
left
> > over 10000 dead and half a billion USD in damage. Yet economic data
shows
> > that Bangladesh is on track in its expected growth. That's almost like
a
> > miracle.
> > The Ex****t Promotion Bureau in Bangladesh re****ted that Bangladesh
> > ex****ts in March 2008 have increased by 21.25 per cent from the past
year
> to
> > $1.22 billion. In July to March, the first three quarters of the
2007-2008
> > fiscal year, ex****t earnings grew 12.4 per cent to $10.16 billion.
Ex****t
> > volume increased by 13.93 per cent. Earnings from knitwear garments in
the
> > nine-month period grew by 17.34 per cent to $3.9 billion. Ex****ts of
woven
> > garments increased 7.54 per cent to $3.8 billion.
> > According to the Bangladesh central bank statistics, Bangladesh
> > expatriates sent home a record remittance i.e. US$6.449 billion in the
> first
> > 10 months of this fiscal year. It got a 31.48 per cent growth over the
> > corresponding period of the last fiscal year. The remittances from
> > Banglade**** nationals working abroad were estimated at $800.20 million
in
> > April 2008. In March, the remittance was $808.72 million.
> > At least 295,155 Banglade****s found jobs in over 100 countries
during
> the
> > January-April period this year. This is up from 192,725 in the same
period
> > last year, according to the Employment and Training (BMET) statistics
> > published by the Bangladesh Bureau of Manpower.
> > A recent re****t indicated that banks in Bangladesh are allowed to
open
> > small business centres in Bangladesh. It suggested that Banglade****
> > expatriates are now increasingly using banking channels to remit money
as
> > banks have become efficient in delivering such money. The Bangladesh
Bank
> > recently decided to allow the commercial banks to partner with the
> > non-governmental organisations (NGO) having branches all over the
country
> > for disbursement of remittances, particularly in the rural areas.
> > In another re****t published earlier this month, Bangladesh's
central
> bank
> > said that the economy could grow as much as 6.2 per cent in the
current
> > fiscal year, sup****ted by a rebound in agricultural output following
> natural
> > disasters and a pick-up in ex****ts growth.
> > In few recent re****ts on Bangladesh ****p-breaking industries, it
has
> been
> > emphasised that Bangladesh has emerged as a major ****p-breaking
> destination
> > in South Asia. An average of 150-200 vessels are being scrapped in
> > Bangladesh every year, according to one re****t. Bangladesh is getting
a
> > competitive edge over its rival in neighbouring countries like India
and
> > Pakistan. Both India and Pakistan generate around 4,000 tonnes of
scrap
> > steel per vessel, while Bangladesh generates 12,000-15,000 tonnes of
scrap
> > steel per vessel, according to the data provided by the re****t. A high
> > official of the ****p Recycling Industries Association of India have
said
> in
> > a newspaper interview that 'Indian ****p-breakers are losing business
to
> > Bangladesh'.
> > There are some downsides as well. Bangladesh has been under serious
> rice
> > shortage and price has climbed as much as 50 per cent in recent
months.
> > Bangladesh was seriously affected by the worldwide rice shortage.
Being
in
> > the list of top five rice-producing countries did not help Bangladesh
> much.
> > That's because Bangladesh consumes more rice than it produces since
rice
> is
> > the primary food here. Bangladesh has to im****t a large sum of rice
each
> > year. Natural disasters made this worse. Even living in Silicon
Valley,
I
> > can feel the heat as my local Costco have run out of rice for weeks.
Other
> > shops have also increased the price and put a limit on how much each
> > customer can buy. I can imagine the situation in Bangladesh where 35
per
> > cent people live below dollar-a-day poverty line. Yet the new
harvesting
> > season is giving them a hope.
> > Government of Bangladesh has just banned ex****t of rice for six
months
> > except for aromatic varieties. Official says that the ban came after
the
> > Ex****t Promotion Bureau (EPB) revealed last week that a group of
ex****ters
> > have cashed in on the government's free rice ex****t policy by ****pping
in
> > record amount of the staple this fiscal year.
> > Bangladesh factory owners and officials have come into rescue by
> > providing subsidised food to low-paid workers. Workers in Bangladesh
are
> > assumed to spend about 70 per cent of their income on food. 'The
> Bangladesh
> > Knitwear Manufacturers and Ex****ters Association will provide rice at
> > two-thirds of the market price to a quarter of its 800,000 employees',
a
> > local official said to a re****ter.
> > The central bank (Bangladesh Bank) re****ted that Bangladesh's
overall
> > im****t grew by 24. 37 per cent during the first nine months of the
current
> > fiscal year (July 2007-June 2008) over the same period of the previous
> > fiscal. 'The overall im****t increased during the period due mainly to
> higher
> > im****t of essential items including food grains, industrial raw
materials
> > and petroleum products to meet the domestic demand,' a senior official
of
> > the Bangladesh Bank have said to a news re****ter.
> > Looking over both pros and cons from the re****ts coming from
> Bangladesh,
> > it seems that Bangladesh have been passing difficult times. But at the
> same
> > time, all economic data pointers are suggesting that the overall
growth
is
> > marching forward in full swing. If only its political leaders now
realise
> > the op****tunity that lies ahead and abandon the path of corruption and
> > instability like strike, Bangladesh should embrace a promising future.
The
> > real question is, will they realise it and come clean?
> > GM Solaiman
> > Silicon Valley, California, USA
> >
> >
>
>
|
