Dev spending lowest in 5yrs

Government agencies could spend 28.45 per cent or Tk 61,048 crore allocated for development projects in July-January of the current fiscal year — the lowest in the last five years, according to the Implementation Monitoring and Evaluation Division (IMED). Spending on development projects fell 11 per cent year-on-year to Tk 61,048 crore in the first seven months of the fiscal year, a result of the government’s go-slow approach towards low priority schemes. Expenditure from the state coffer dropped by 16 per cent year-on-year to Tk 39,342 crore in this fiscal year’s July-January period, when the pandemic-induced economic slowdown affected revenue collection.Spending from foreign funds also declined marginally during the period. The government allocateed Tk 214,611 crore to spend for development projects for the fiscal year 2020-21.The religious affairs ministry could spend 74 per cent of Tk 884 crore of the development schemes for the ongoing fiscal year that will end in June. The IRD spent only 1.80 per cent of the allocation of Tk 438 crore in the same period.The power division used up 38 per cent of Tk 27,297 crore allocated for development projects for the fiscal year. The health services division could spend only 17 per cent of the total outlay of Tk 9,736 crore.

Source: https://www.thedailystar.net/business/news/dev-spending-lowest-5yrs-2044517

Janata Bank mobilisesTk 43.96b deposits in Rajshahi div

Janata Bank Limited has mobilised deposits worth Tk 43.96 billion (Tk 4,396 crore) against the target of Tk 40.70 billion (Tk 4,070 crore) in 2020, despite the adverse impact of Covid-19 pandemic situation in Rajshahi division, reports BSS. The bank collected deposits of Tk 36.10 billion (Tk 3,610 crore) in 2019. It made a profit of Tk 821.5 million (Tk 82.15 crore) in 2020, while the profit figure was Tk 699.2 million (Tk 69.92 crore) in 2019. In 2020, 145 branches among the total 148 in the division made profit, while the number of profit-making branches was 143 in the previous year.Seven Area Heads, 148 branch managers and other officials concerned joined the conference. Abdus Salam Azad urged the branch managers to perform their duties with utmost sincerity and honesty to attain targets in all the indicators in the current year.

Source: https://today.thefinancialexpress.com.bd/trade-market/janata-bank-mobilises-tk-4396b-deposits-in-rajshahi-div-1613228930

Fund Transfer from Standard Bank to bKash thru’ SBL DigiBankingApp

From now, all customers of Standard Bank Limited will be able to transfer fund instantly from their SBL account to any bKash account 24/7 from anywhere by using mobile banking app “SBL DigiBanking”. The “Fund Transfer” service was inaugurated at a function at the bank’s head office in the city recently.

Source: https://today.thefinancialexpress.com.bd/trade-market/fund-transfer-from-standard-bank-to-bkash-thru-sbl-digibankingapp-1613229029

Orion Pharma declares 10pc cash dividend

Orion Pharma has declared 10 per cent cash dividend for the financial year ending on June 30, 2020. The declaration came at its 55th annual general meeting through a digital platform in December last year, said the pharmaceutical company in a statement. Shareholders unanimously approved audited financial statements for financial year 2019-20 which were presented at the meeting.

Source: https://www.thedailystar.net/business/news/orion-pharma-declares-10pc-cash-dividend-2044441