Mega projects in 2022: After two opened, sight set on more in 2023

Bangladesh witnessed successful completion of two mega projects — Padma Bridge and metro rail — in the just concluded year of 2022, marking a massive development in the country’s communications network. Some more communication projects are expected to be ready by this new year beginning today (Sunday), making a paradigm shift in the communications sector considered to be suitable for meeting the needs of the fast-growing economy that aspires to become a developed one by 2041. State Minister for Planning Professor Shamsul Alam said the government’s ambitious development dreams have come true in recent months as a couple of big infrastructures have already been materialised. At least 2-3 other projects will also become visible within this calendar year (2023) that will accelerate the country’s economic growth further, he added. Big projects like 3.32km Karnaphuli Tunnel, 127km Dohazari-Ghundum railway, Dhaka elevated expressway and BRT from Airport to Gazipur are scheduled to be completed by 2023, in addition to projects in the energy sector, including Rampal and Matarbari power plants.

Source: https://thefinancialexpress.com.bd/economy/mega-projects-in-2022-after-two-opened-sight-set-on-more-in-2023-1672541680

Revenue collection grows 14pc

Domestic revenue mobilisation posted more than 14-percent growth in the outgoing year 2022 amid inflation-fuelled economic slowdown and erosion of real income. Despite disrupted supply chain for the Russia-Ukraine war, costly dollar and high commodity prices globally, the government’s revenue-collection efforts paid off. However, the revenue board faced challenges like dollar crisis, higher import margin, regulatory duty to restrict import of non-essential products, discouraging import of luxuries and tax reduction in essential goods like petroleum products, sugar and rice. Yet the mechanics of the National Board of Revenue (NBR) brought the tax authority to a new height expediting revenue collection, better service delivery as well as compliances. The taxman innovated electronic tax-deducted at source, online tax return submission system, and verification of proof of submission of tax return.

Source: https://thefinancialexpress.com.bd/economy/revenue-collection-grows-14pc-1672455516

Malek, Elahi elected as MTB chairman, vice-chairman

Md Abdul Malek was recently elected as the chairman of Mutual Trust Bank. Malek was serving the bank as vice-chairman for the last two years, a press release said. He was the chairman of Sheltech Consultants (Pvt) Ltd. Malek obtained a bachelor’s degree in civil engineering from the Bangladesh University of Engineering & Technology. Syed Manzur Elahi, founding chairman of MTB and Pioneer Insurance Company, has been elected as vice-chairman of the bank. Elahi served as the chairman of the MTB board executive committee. He is the chairman of various concerns of Apex Group, Grey Advertising (Bangladesh), Quantum Consumer Solutions, Manusher Jonno Foundation, Sunbeams School and MTB Foundation. He is the managing director of International Publications, director of the Credit Rating Agency of Bangladesh and the Central Depository Bangladesh, chairman of the board of trustees of East West University, member of the board of trustees of the Centre for Policy Dialogue, the Diabetic Association of Bangladesh and the Bangladesh Freedom Foundation. He did an MA in economics from the University of Dhaka.

Source: https://www.thedailystar.net/business/economy/news/malek-elahi-elected-mtb-chairman-vice-chairman-3209851