PDB proposes 57% retail power price hike

Aminur Rahman Rasel
bdnews24.com Correspondent

Dhaka, June 25 (bdnews24.com)—State-owned Power Development Board (PDB) has proposed to the energy watchdog to increase the retail electricity tariff by 57 percent per unit (each kilowatt hour).

The PDB also urged Bangladesh Energy Regulatory Commission (BERC) to make the proposed rate effective from July 1.

BERC member Selim Mahmud told bdnews24.com on Monday that the final decision on the power tariff would be made after holding an open meeting and a public hearing.

He also said besides the PDB, four power-distribution companies have proposed a 55 percent increase per unit on average in the retail power tariff.

The companies are Dhaka Power Distribution Company Ltd (DPDC), Dhaka Electric Supply Company Ltd (DESCO), Rural Electrification Board (REB) and West Zone Power Distribution Company Limited (WZOPDCO).

On June 6, the PDB proposed to the BERC to raise electricity tariff at bulk level by 50 percent per unit. The PDB officials had said at the time that the retail power tariff needed a 30 percent raise.

The PDB in the latest proposal asked the BERC to fix the outer limit bar for lifeline tariff or compulsory minimum charge for residential consumers from 100 units to 60 units to tide over government's losses.

Bulk and retail power prices were hiked only on Mar 29 by Tk 0.28 and Tk 0.30 per unit respectively with teroactive effect from Mar 1.

Both the bulk and retail power tariffs have been increased twice this year.

State-run Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) on May 24 wrote to the energy watchdog to increase gas prices, except at the domestic consumer level.

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Dhaka, Jun 26 (bdnews24.com)—The Dhaka Stock Exchange key index registered a 64.12 points gain with around an hour and a half remaining into trading on the week's third day.

The DGEN reached 4330.80 points or 1.50 percent higher at 1:05pm on Tuesday.

Shares and mutual funds worth around Tk 756.35 million changed hands so far with prices of 219 issues advancing, 16 declining and 19 remaining unchanged.

The key index ended 21.13 points lower on Monday when it closed at 4266.68 points or 0.49 percent down with a turnover of around Tk 1.43 billion.

The DSE key index kicked off the week's trading 12.36 points lower.

The premiere bourse's benchmark index had shed 6.94 percent or 320.55 points last week.

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Boiler blast kills 3 in Narsinghdi

Narsinghdi, Jun 26 (bdnews24.com) – At least three people were killed and five others injured on Tuesday when a boiler at a Calendering mill exploded in Narsinghdi sadar upazila.

Officer-in-Charge of Narsinghdi Sadar Model Police Asaduzzaman said the accident took place around 7:30am at the Makbul Hossiain Bhuiyan Calendering and Finishing Mill in the upazila's Shahe Protab area.

The boiler exploded when workers started it for 'finishing' of some produced products. A wall of the factory fell on the nearby road and house killing three people on the spot, he said.

The deceased have been identified as Al-Amin, 25, a worker of the factory, Abul Hashim, 12, a madrassa student and one housewife 'Begum', 45, resident of a factory-adjacent house, the OC said.

Madrassa student Hasim was passing by the factory and housewife 'Begum' was at her home. Both of them died from wall collapse.

Police, Fire Brigade units and Rapid Action Battalion rushed to the spot immediately after the explosion. Locals rescued five injured and sent them to Narsinghdi Sadar Hospital, he added.

The injured have been identified as Jesmin Begum, 22, Isa Moni, 4, 'Sabbir', 3 and Abdur Razzak, 45.

Doctors have sent Razzak to Dhaka Medical College Hospital as his condition deteriorated.

The police official said the factory owner Abdus Sattar Bhuiyan and its managing director have fled following the accident.

"We are looking for them", he added.

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Tue, Jun 26th, 2012 12:56 pm BdST

Dhaka, Jun 26 (bdnews24.com) – Parliament has corrected mistakes in Dhaka Transport Coordination Authority Act, 2012, which was passed four months ago.

The Act did not repeal its earlier laws, Dhaka Transport Coordination Board Act, 2001, meaning the authority is facing problems in doing its tasks as both it and the board are functional in parallel.

Dhaka Transport Coordination Authority (Amendment)) Bill, 2012 was passed in a voice vote piloted by Communications Minister Obaidul Quader Tuesday amid protest from independent lawmaker Mohammad Fazlul Azim.

The minister blamed Bangladesh Government Press for the mistakes while Azim contradicted.

"In a printing press, there can be spelling or grammar mistake but mistake of content is not possible," Azim said.

There is perception among people that lawmakers just pass laws formulated by clerks, he said.

Citing the process, Azim said a bill is sent to the Ministry of Law for vetting after it is drafted by a ministry.

"The cabinet nods before it is placed to parliament. It is extensively discussed in the respective standing committee also," he said.

The minister said he was not avoiding his responsibility.

"Due to mistakes by the BG Press, we had fallen into a lengthy process to amend the law," he said.

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Order on Kashem’s bail Tuesday

International Crimes Tribunal-1 will pass an order on Tuesday whether it would grant bail to war crimes suspect Jamaat leader Mir Kashem Ali.
The tribunal fixed the date on Monday after hearing on Mir Kashem’s bail petition had ended.
Defence lawyers appealed for his bail when the court started the day’s proceedings around 10:40am in presence of Mir Kashem.
After placing the bail petition before the tribunal, defence lawyer Abdur Razzak said Mir Kashem should be granted bail as the 63-year-old central Jamaat leader was sick.
The defence counsel further said Kashem is a dignified person and he has no intension of fleeing.
While prosecution said Kashem, a very influential person, might hamper the investigation and threaten the witnesses if he is free.
Less than two hours after the court issued an arrest warrant against him, Kashem was arrested at the office of Bangla daily Naya Diganta at Motijheel on Sunday for his alleged involvement with the crimes against humanity committed during the 1971 Liberation War.
The tribunal later sent him to jail with a custodial warrant.

Cabinet nods Dhk-Yangon flight proposal

The cabinet on Monday approved a proposal for signing an agreement on direct flight service between Bangladesh and Myanmar.
At present, there is no direct flight between the two neighbouring countries.
Once the agreement is signed, seven passenger and four cargo flights will shuttle between Dhaka-Yangon every week, Cabinet Secretary Mosharraf Hossain Bhuiyan told journalists after the regular cabinet meeting.
Bangladesh will now send the proposal to Myanmar for its approval to begin the direct flight service, the cabinet secretary said.
The proposal, placed by the Aviation and Tourism Ministry, mentioned the names of Bangladesh Biman, GMG Airlines, United Airways and two Myanmar airlines for operating the flights, he added.
The cabinet also approved a draft of Sustainable and Renewable Energy Development Authority Act-2011.
Prime Minister Sheikh Hasina presided over the meeting at the secretariat in the capital.

US under secretary to arrive Thursday

US Under Secretary of State for Political Affairs Wendy Sherman is set to arrive in Dhaka Thursday for a two-day official visit to discuss bilateral issues with top government and opposition leaders.

This will be her first visit to Bangladesh since her appointment as under secretary of state for Political Affairs on September 21, 2011.

Diplomatic sources said political issues, especially the current political crisis created with the scrapping of caretaker government system, and the next general election will come up prominently during Sherman’s meeting with government and opposition high ups.

However, foreign ministry officials termed it as a “routine” visit to Bangladesh as she is visiting as part of her three-nation tour aiming to strengthen bilateral relations.

In Dhaka, the under secretary is due to meet the prime minister, foreign minister and leader of the opposition as well as other government officials.

As part of her programme schedule, Wendy Sherman will first hold meeting with Prime Minister’s Security Adviser Major Gen (Retd) Tarique Ahmed Siddique Thursday afternoon.

In the evening, she will call on Prime Minister Sheikh Hasina at Ganobhaban, official sources said.

She will also visit the Grameen Borrower Group site outside of Dhaka Friday morning.

Sherman is due to meet with Foreign Minister Dipu Moni Friday afternoon and from there she will then meet Leader of the Opposition Khaleda Zia at her Gulshan residence, sources added.

Prior to leaving Dhaka, the US diplomat will meet with senior government leaders at a dinner on Friday. It is expected that a select group of civil society members will also meet her during her stay in Dhaka.

The undersecretary has no schedule for interaction with the media.

Her visit is being considered very crucial as this will be the highest level visit by any US government official in recent years.

Future Group plans deals to cut debt

Future Group, India’s largest retailer which owns Pantaloon Retail, is looking to sell stakes in brands and units to raise funds and help cut the group’s $1.6 billion debt, the Economic Times reported on Monday. ‘We are working on 18 deals and expect to consummate many of the transactions early next fiscal (year). We will be a zero-debt company by March 2013,’ Future Group chairman Kishore Biyani told the newspaper. The group plans to raise 25 billion to 30 billion rupees by selling a minority stake in Future Value Retail, which owns Big Bazaar hypermarkets and Food Bazaar supermarkets, to a strategic investor, the paper said. It plans to merge its electronics retail chain eZone with a services company based near New Delhi and bring in financial and strategic partners for HomeTown, its furniture retail chain, helping cut the debt of the parent company, Pantaloon, by around 6 billion to 7 billion rupees, the paper said. Biyani could not be immediately reached for comment by Reuters. Pantaloon Retail has debt of 25 billion rupees. Separately, Future Logistics, a group firm, is looking to raise 8 billion to 10 billion rupees from private equity investors, the paper said. ‘Talks are on with three PE funds and we will be able to seal a deal within two months,’ Biyani told the paper. Another group firm Future Ventures, which has invested in three dozen brands, including BiBa, Indus League, Celio and Indigo Nation, is also likely to sell some holdings, the paper said.

Russia willing to back ultimatum-free UN statement on Syria

MOSCOW: Russia said Tuesday it could back either a UN Security Council statement or a resolution on peace envoy Kofi Annan's proposal on ending the Syria crisis as long as it contained no ultimatums. The announcement came as Western powers weighed a statement strong enough to condemn Syrian President Bashar al-Assad's crackdown on the opposition, while not antagonising Russia, Syria's top ally. "We are ready to back the mission of UN and Arab League representative Kofi Annan and the proposals to the government and opposition to Syria," Foreign Minister Sergei Lavrov told reporters. "We are ready to support his proposals to the UN Security Council, and not only in the form of a statement but also a resolution," he said. But Lavrov also stressed that the proposals Annan made to Assad during their meetings in Damascus this month had still not been published and needed to be put up for an open debate at the Security Council. "First of all, these proposals must be published," Lavrov said after holding talks with his Lebanese counterpart Adnan Mansur. "Second of all, the Security Council should approve them not as an ultimatum but with consideration for the work that is ongoing, and approve them as the basis for Kofi Annan's continuing efforts to achieve agreement between all Syrians," he added. The UN Security Council was expected later Tuesday to discuss and possibly vote on a Western-drafted statement that diplomats said called for possible "further measures" if Assad failed to carry out Annan's proposals

Bangladesh in Asia Cup final

Dhaka : Bangladesh bore away against Sri Lanka by 5 wicket in their Asia Cup match at Sher-e-Bangla Stadium on Tuesday. Despite losing two well set batsmen in Tamim Iqbal and Shakib Al Hasan, Bangladesh were gain a credible came off with flying colour in their so called Semifinal of the Asia Cup match against Sri Lanka on Tuesday. Chasing 212 in 40 overs, the Tigers were 212-5 after (37 overs) with Nasir Hossain batting on 36 and vice-captain Mahmudullah 32 not out at the Sher-e-Bangla National; Stadium. Tamim(59) and Shakib (56)were leading the charge at the Sher-e-Bangla National Stadium in Mirpur.Tamim scored his 22nd ODI fifty off 57 balls with nine boundaries. And Shakib scored his 24th ODI century off 46 balls which had 7 boundaries. The third wicket stand was worth 108 runs so far. Opener Nazimuddin (7) was trapped in front by Kulasekara in the fourth ball of the second over SL innings. Fast bowler Nazmul Hossain grabbed three early wickets as Bangladesh restricted Sri Lanka to 232 in a must-win Asia Cup match in Dhaka on Tuesday. Nazmul rocked Sri Lanka in his sharp six-over opening spell, removing skipper Mahela Jayawardene (five), Tillakaratne Dilshan (19) and Kumar Sangakkara (six) to send the tourists reeling at 32-3 in the day-night match. Chamara Kapugedera (62) and Lahiru Thirimanne (48) steadied the innings with an 88-run stand for the fourth wicket, but were not allowed to score freely by the Bangladeshi bowlers. Upul Tharanga was the other main scorer, scoring a 44-ball 48 with one six and five fours. Nazmul, playing his first match of the tournament, was superbly backed by left-arm spinners Shakib Al Hasan and Abdur Razzak who bagged two wickets apiece. Paceman Mashrafe Mortaza was the other bowler to impress, conceding just 30 runs in his tight 9.5 overs. Thirimanne hit just three fours in his 73-ball knock before he was stumped off Razzak, the ball rolling on to the wickets after hitting wicket-keeper Mushfiqur Rahim's pad. Kapugedera struck only four boundaries in a 92-ball knock for his eighth half-century in one-dayers before falling to a low catch in the covers by Shakib off Razzak. Pakistan have already made it to the final with nine points from three matches. India have eight points from three games, followed by Bangladesh (4/2) and Sri Lanka (0/2). The hosts need a win to qualify for the final as they have beaten India in the league match.