Bangladeshi Economy to grow 6.2pc-6.5pc

The central bank has predicted an economic growth rate between 6.2 per cent and 6.5 per cent in the current fiscal and easing of inflationary pressure in the coming months.

The government in its budget document had projected 6.5 per cent growth in the fiscal 2008-09 (FY09) assuming that there would be no major natural disaster.

The central bank estimation came against the backdrop of the global financial crisis that has already hit different countries across the world.

“We’ve forecast the growth to range between 6.2 per cent and 6.5 per cent in FY09 in a more cautious approach than the government,” Chief Economist of Bangladesh Bank (BB) Mustafa K Mujeri told reporters Sunday while releasing the BB quarterly for July-September 2008.

He also said the central bank is still not sure about the impact of the global financial crisis. “Our Policy Analysis Unit (PAU) is now working to assess the possible impact of the crisis on the economy,” he added.

“In view of the current global financial turmoil, the priority for Bangladesh is to improve the quality of information that the banks and other financial institutions provide and those collected by the regulatory agencies,” the BB said in its quarterly.

Clearly, Bangladesh needed to plug the gaps in regulatory and supervisory infrastructures and strengthen its regulatory regime in a comprehensive manner covering all institutions dealing with both household savers and institutional investors in order to avoid the creation of any systemic distress, the quarterly added.

“The important agenda for Bangladesh would be to convert the current global crisis into a learning opportunity in order to move forward,” it noted.

The PAU of the BB indicated on the basis of its preliminary analysis that it would be possible to achieve gross domestic product (GDP) growth in the range of 6.2 per cent and 6.5 per cent in FY 09 following continuation of the favourable conditions and strengthening of growth-supportive policies.

It also said the twelve-month average inflation rate is more likely to remain in the range of 8.50 per cent and 9.0 per cent in FY09 against 9.5 per cent earlier estimated by the government.

In June last, the government said in its budget document that the average inflation would come down to 9.0 per cent in FY09.

“The inflationary pressures on economy will ease gradually in near future because of the downward trend in food prices, which account for 59 per cent of the Consumers’ Price Index (CPI),” Mr. Mujeri said.

The BB, however, said the private sector spending is likely to be higher than normal due to the national elections scheduled to be held in December this year.

The country’s CPI inflation increased marginally following higher demand for food and non-food items in September this year, which was the month of holy Ramadan.

The CPI inflation rose to 10.06 per cent in September on the annual average basis from 10.01 per cent of the previous month mainly due to the increase in prices of food items.

On the other hand, the inflation rate slightly moved up to stand at 10.19 per cent on a point-to-point basis in September from 10.11 per cent of the previous month because of the higher prices of non-food items.

The food price inflation dropped to 12.07 per cent in September from 12.36 per cent of August last on the point-to-point basis while that of non-food items rose to 7.19 per cent from 6.55 cent, according to the Bangladesh Bureau of Statistics (BBS) data.

The country’s near-term economic outlook remains positive and current movements of major macroeconomic aggregates are in the right direction, according to the BB quarterly.

“The growth in productivity across the entire economy is essential to maintain the positive near-term outlook and achieve a higher real sector growth,” it added.

In this respect, several critical areas need priority action including weak infrastructure, power shortages, transport bottlenecks, market instability, and inefficiencies in raising workers’ remittances and exploring new overseas labour markets, the central bank recommended.

“Moreover, ensuring congenial business climate and reasonable socio-economic stability in the backdrop of the national elections in December 2008 are the priority issues,” it noted.

Source:

Political activities to be allowed immediately Says Adviser Zillur

Commerce Adviser Hossain Zillur Rahman yesterday said restrictions on political activities will go immediately after announcement of election schedule, but no official decision came after the schedule was laid out later in the day.

A home ministry source however said a draft on lifting the curbs is ready, adding that a gazette notification detailing the government decision will be issued today.

Adviser Zillur said political parties in their dialogues with the government had demanded complete freedom and start of political activities along the election process.

“We understand it’s important to fulfil their demands. They will be fulfilled through a gazette notification on announcement of the election schedule,” he told a press briefing at the communications ministry.

He talked to the reporters after holding a meeting with three other advisers–Communications Adviser Ghulam Quader, Local Government Adviser Anwarul Iqbal and Law Adviser AF Hassan Ariff, at the communications ministry.

Zillur however stopped short of saying whether the emergency rules will be withdrawn.

“A successful election with participation of all political parties is an important milestone for us. We’ve got to reach this successfully.”

As per Section 3 of the Emergency Power Ordinance promulgated through a gazette notification on January 25 in 2007, the government restricted processions, demonstrations, hartals and strikes across the country.

Rallies, processions and functions relating to religious, social and state affairs were however kept out of the restrictions.

The emergency rules allow the government to ban any meetings, processions, demonstrations and any news or information deemed harmful in the interest of public security and peace.

The government later relaxed the emergency power, allowing political parties to hold indoor political rallies on a small scale.

Source: The Daily Star

JS, Upazila polls schedules announced : Polling- JS Dec 18, Upazila Dec 28

Chief Election Commissioner (CEC) ATM Shamsul Huda in a televised address to the nation yesterday announced the schedules of parliamentary and upazila elections to be held on December 18 and 28.

The CEC declared the schedules of the polls after the High Court rejected writ petitions challenging delimitation of parliamentary constituencies.

Changing the decision to stage upazila elections on December 24 and 28, the CEC said the upazila elections would be held simultaneously all over the country.

According to the parliamentary elections schedule, the last date for submission of nomination papers would be November 13. Scrutiny of the nomination papers will be carried out on November 16 and 17. The last date for withdrawal of the candidature is November 24.

The last date for nomination filing for Upazila polls is November 13. Scrutiny of the upazila nomination papers will be held on November 19 and 20 while the last date for withdrawal of candidature has been fixed November 27.

The CEC in his speech also mentioned newly included four provisions of the Representation of Peoples Order Act that spells the qualifications and disqualifications for contesting the polls.

Dr Huda said no one would qualify to contest in the polls without being a voter. An independent candidate must show support of at least one per cent voters of the concerned constituency to qualify to contest.

Civil servants within three years of their retirement, loan defaulters and bill defaulters are disqualified for the poll, he added.

Dr Huda urged all those involved with conducting the Jatiya Sangsad and Upazila elections to discharge their responsibilities with full neutrality and efficiency and the conduct of competing candidates.

He said the government and the Election Commission would arrange all types of security for the election officials.

“I want to say categorically: discharge the sacred duty vested on you remaining above all types of intimidation; ignore all unwanted influence and unjust demands,” said the CEC.

“We will do whatever is necessary to ensure that people can go to the polling centres, cast their votes and return home safely.”

On the registration of the political parties, the CEC said the aim of the registration was not to control the political parties but to lay out a framework for work between the Election Commission and the political parties.

He said the registration would create a good relation between the EC and the political parties, and ensure transparency and accountability of the political parties.

Dr Huda said until October 2008 a total of 8,11, 30,973 voters have been registered across the country. However, the number was 9,24,41,868 in 2006.

Apparently, 1,13,10,895 excess voters were registered in 2006 which has been corrected this year.

On the dialogues with the political parties the electoral chief said the dialogues were held in completely open and cordial atmosphere.

The political parties’ opinions and recommendations on the commission’s proposed amendments were pragmatic and timely.

The commission accepted most of the logical recommendations of the political parties and incorporated those in laws concerned and rules, he added.

Dr Huda requested all candidates participating in the Jatiya Sangsad election to maintain a peaceful atmosphere “through being imbibed by the democratic ethos and showing respect to each other”.

He urged them to follow the electoral code of conduct and refrain from banned activities during election campaigns and on Election Day.

The CEC warned that traditional “showdowns” would not be tolerated in any way. He urged all to remain alert against such activities and trade in votes.

Huda said the post offices will remain open late in night, if necessary, for sending result sheets from the polling centres.

The CEC expressed the hope that with the sincere effort and participation of the political parties, intellectuals, journalists, students and people in general, the ninth parliamentary election and the third upazila election would be held peacefully on December 18 and 28 respectively.

Source: The New Nation

Bollywood: Vidya Balan’s walk in the clouds

Away from the hustle and bustle of Mumbai city, Vidya Balan is communing with nature on the sets of Vishal Bharadwaj’s next. Unlike most actors who prefer to shoot in the city, Vidya is having a wonderful time shooting in Wai.

While most actresses who like to remain holed up in their vans in between shoots, Vidya prefers the outdoors. And since she is shooting in picture pretty Wai, the actress prefers to spend time breathing in the fresh air. A unit member revealed, “Vidya loves to be in a natural environment. She enjoys nature walks in between shots. She’d rather sit in the greenery and soak in its beauty than be stuck in the van. Vidya finds the entire experience to be meditative and absolutely soothing.”

Even when not shooting, Vidya doesn’t idle away her time! “Vidya goes for these long walks on the roads of Wai. So if you spot someone in tracksuits with an ipod and speakers hooked into her ears, walking away briskly, you know who it is,” laughs the unit member. Viday’s staff does accompany for her brisk walks. “We cannot take any risks. – Agency

Drama: Rtv airs Dahan tonight

McCain narrows gap with Obama as campaign reaches climax

The US presidential candidates are to focus their efforts on key swing states on Sunday as the 18-month-long election campaign draws to a close.

Republican John McCain will appear on stage twice in Pennsylvania, while Democrat Barack Obama will speak in Ohio three times. McCain’s running mate Sarah Palin will also hold three Ohio rallies.

Ohio, which narrowly voted Republican in 2004, is seen as a must-win for McCain in Tuesday’s election.

Under the system used in US presidential elections Ohio carries 20 electoral votes, making it one of the largest states where polls show the result could still go either way.

Pennsylvania, where McCain will hold two rallies on Sunday morning, is another crucial state. It boasts 21 electoral votes and voted Democratic in 2004.

Analysts say McCain, 72, needs to win in Ohio to stand a chance of reaching the White House, while Obama needs to hold on to Pennsylvania for the Democrats if his poll lead is to be translated into a result on election day.

After spending Saturday campaigning in traditionally conservative states brought into play by Obama’s poll lead, both candidates will use Sunday to return to more usual election battlegrounds.

McCain showed his lighter side on Saturday night, appearing on the high-profile TV comedy show Saturday Night Live.

He played on his reputation as a maverick and the reality of being outspent on the campaign trail by Obama.

“I’m a true Republican maverick: a Republican without money,” McCain joked, pretending to introduce a sale of campaign-related products on shopping channel QVC – chosen, he told viewers, because the McCain-Palin campaign could not afford nationwide network TV coverage like Obama.

He appeared in good spirits as he appeared on the show beside comedian Tina Fey, performing her much-acclaimed impersonation of Mrs Palin.

Campaigning in Virginia earlier, the Arizona senator told voters: “We can and will win.

“I’m not afraid of the fight, I’m ready for it and you’re going to fight with me,” he told voters.

For his part, Obama, 47, used a nationwide radio address to repeat his message of “change”: “If you give me your vote on Tuesday, we won’t just win this election – together, we will change this country and change the world.”

Both campaigns have thousands of volunteers working flat-out manning phone banks, handing out brochures and knocking on doors as election day approaches.

Join us on 4 November to follow the news as America votes, including:

Live text updates through the day and night, with input from BBC correspondents around the US.

Results as they come in, on a live updating map, from midnight GMT Streaming video of the BBC election night programme in Washington Analysis from BBC North America editor Justin Webb in Washington, and Gavin Hewitt and Matthew Price at the candidates’ HQs.

Obama, who saw his lead narrow in one tracking poll on Saturday but maintained a 9-to-10-point lead in others, has warned against complacency and urged Democratic supporters to vote.

“Don’t believe for a second this election is over,” the Illinois senator told a 15,000-strong crowd in Henderson, Nevada.

Speaking to supporters in Newport News, Virginia, McCain questioned Obama’s readiness to lead in the face of such “grave threats” as al-Qaeda and the prospect of a nuclear-armed Iran.

He also attacked the Illinois senator’s tax plans.

“He’s running for redistributor-in-chief, I’m running for commander-in-chief,” said McCain.

The final weekend has sprung a couple of surprises, one on each campaign so far.

On Saturday, it was revealed Palin, governor of Alaska, had been duped by a prank call in which a Canadian radio presenter successfully convinced her for five minutes that he was French President Nicolas Sarkozy.

Meanwhile, it was reported that a Kenyan aunt of Obama was living illegally in Boston four years after an immigration judge rejected her request for asylum.

Obama said he did not know the aunt, Zeituni Onyango, was in the country illegally, adding that the laws covering the situation should be followed.

President George W Bush, in his last weekly radio address before his successor is chosen, urged citizens to use their vote on 4 November.

Polling officials are expecting some 130 million Americans to vote, says the BBC’s North America editor Justin Webb reports – a turnout which would be higher than in any election since 1960.

Source: The New Nation

SC moved against HC orders on EC seat demarcation

The Supreme Court has been petitioned on Sunday to overturn the High Court orders passed hours earlier that dismissed three writ petitions challenging the Election Commission’s gazette on the demarcation of the parliamentary seats.

The hearing will be held on Monday, a lawyer for the petitioners said.

The High Court dismissed three separate writ petitions challenging the gazette on the re-demarcation of parliamentary seats, which lawyers said cleared the way for announcement of the election schedule.

Barrister Nasiruddin Ashim, after filing the appeal, told bdnews24.com that they had sent a fax to the EC informing it of the appeal.

Shahdin Malik, lawyer for the EC, earlier told bdnews24.com after the HC verdict that the court had ruled the commission’s gazette legal.

On voters being listed before the redrawing of 133 out of 300 constituencies—one of the main objections of the petitioners—the court said that one had no relation to the other.

The ruling meant that the EC had no impediment to declaring the election schedule, Malik said, adding that the commission could announce the schedule any time it wished.

Barrister ABM Nurul Islam, lawyer for the petitioners, also told bdnews24.com that the HC ruling meant the commission could declare the election schedule.

“But the decision whether we (the petitioners) will appeal against the verdict will be taken after discussions on the matter,” he said.

The commission was originally set to declare the schedule on Nov 2 (Sunday), but had been awaiting the High Court verdict.

Chief election commissioner ATM Shamsul Huda told bdnews24.com that the schedule for national elections would be declared on Sunday evening.

The High Court stayed the effectiveness of the gazette on demarcation of 300 parliamentary constituencies—which redrew the boundaries of 133 seats—for three months, on Aug 7.

The stay order came on a petition filed by former BNP lawmaker Abdul Mannan, one of three filed on Aug 6 challenging the EC’s gazette. All three petitions were heard by the High Court simultaneously.

The Election Commission primarily redrew the boundaries of 133 parliamentary seats on April 29. The gazette demarcating the boundaries of all 300 parliamentary constituencies was published on July 10.

Source: Bdnews24

Don’t declare schedule before consensus: BNP

BNP says it would not be logical for the Election Commission to announce election schedule only on the basis of the High Court verdict without consensus with political parties.

The High Court Sunday morning dismissed three separate writ petitions challenging the Election Commission’s gazette on the redrawing of parliamentary constituencies.

“Before the schedule is announcement, the government and the Election Commission should have unanimity of opinion with the political parties. It will not be right to announce election schedule hurriedly before that,” joint secretary general Goyeshwar Chandra Roy said.

“There is nothing to be happy about the verdict. Though it seems that the High Court verdict has settled matters, the plaintiff has the opportunity to appeal in the Appellate Division.

“It is not logical in any way to take the next step towards the election before the matter is settled in the Appellate Division,” he told bdnews24.com by telephone.

He said it was the responsibility of the government and the Election Commission to implement the fundamental agreements they had reached with the political parties during the dialogues.

Besides, he argued, the Election Commission was not done with the mandatory registration of the political parties. If the schedule is announced before the registration, there were chances of the whole process getting stuck in legal complexities.

The Election Commission would also have to think again about the its right to cancel candidacy under the newly formulated code of conduct.

Otherwise, no candidate would feel secure. “So, announcement of the schedule before settling these issues would not be right in any way,” Goyeshwar asserted.

Source: Bdnews24

AL welcomes HC ruling, looks to polls schedule

Awami League has welcomed the High Court ruling on the Election Commission’s demarcation of parliamentary seats, and awaits the announcement of the schedule for general elections.

“We are happy. We want the election schedule as soon as possible,” acting general secretary Syed Ashraful Islam told bdnews24.com Sunday, after the HC verdict.

“The ruling has reassured all that the election is to be held on Dec 18.”

“We hope if any appeal is filed with the higher court it will be resolved within the shortest time,” the stand-in general secretary said.

He expressed delight at the verdict abut spoke of his doubt about the election.

“Conspiracy is going on about the election. If the election is not held the country will plunge into a social, political and economic disaster.

“There is no alternative to election. Election must be held on December 18. The caretaker government and the Election Commission will have to do whatever is necessary to [do that].”

Ashraful hoped that all political parties would take part in the election.

Asked whether there was possibility of any political party boycotting the election, the AL leader said, “We want that all political parties participate in the election. Many may have temporary ambivalence. But it is temporary. When the time for the final decision comes they will opt for participation. ”

He said he did not see arch political rival BNP not going to the polls.

“The voter listing could be complete in time as the army did it. The Election Commission failed to do anything as per the roadmap.”

The High Court dismissed three separate writ petitions on Sunday that challenged the Election Commission’s gazette on the demarcation of parliamentary seats, and which lawyers said clears the way for announcement of the election schedule.

The Election Commission is set to declare the schedule for general election on Sunday evening, the chief election commissioner said.

“The schedule for national elections will be declared in the evening,” ATM Shamsul Huda told bdnews24.com on Sunday afternoon.

Election commissioner Muhammad Soul Hussain told bdnews24.com earlier after the verdict the schedule would be announced any time.

Lawyer for the petitioners, Barrister ABM Nurul Islam, however, told bdnews24.com: “The decision whether we (the petitioners) will appeal against the verdict will be taken after discussions on the matter.”

Source: Bdnews24

Navy patrol sent as Myanmar enters disputed waters

Bangladesh has rushed a naval patrol to the disputed waters of the Bay of Bengal where Myanmar has begun oil and gas exploration activities, foreign ministry officials have said.

“We have lodged a strong protest with the government of Myanmar for entry of its vessels into territorial waters of Bangladesh,” foreign adviser Iftekhar Ahmed Chowdhury told bdnews24.com Sunday.

“We summoned the Myanmar ambassador in Dhaka to hand over the protest letter,” he said at his foreign ministry office.

Foreign secretary Md Touhid Hossain told bdnews24.com: “There may be this sort of incident between neighbours. We want that the dispute can be resolved through dialogue as Bangladesh has very good relations with Myanmar.”

Foreign ministry officials say Myanmar sent vessels and exploration equipment along with engineers within the past few days ago to carry out the exploration works, some 60 nautical miles off Saint Martin’s Island.

One official, not wanting to be named, said the Bangladesh Navy had reached the spot and “seen off the Myanmar vessels” late Saturday, but the vessels had returned on Sunday morning.

The area is claimed by both Bangladesh and Myanmar. But Myanmar has awarded a contract of exploration work to a South Korean company, ministry officials confirmed to bdnews24.com.

Bangladesh and Myanmar have been holding on-off talks for years to demarcate their borders in the Bay of Bengal, considered rich in gas reserves.

The foreign ministry has strongly protested the Myanmar action and urged Yangon to remove its vessels and all structures and equipment from the site until the sea border dispute is resolved.

The foreign secretary on Sunday summoned the Myanmar ambassador to Dhaka and handed over the protest letter.

“We have told the ambassador that his government will have to remove all structures and take their vessels back to their waters until the dispute is resolved,” Touhid Hossain told bdnews24.com.

He said the exploration site is in a disputed area claimed by Bangladesh and Myanmar.

Additional foreign secretary MAK Mahmood, who led the Bangladesh-Myanmar maritime delimitation talks in Dhaka earlier this year, told bdnews24.com that Bangladesh would also press the South Koreas company not to conduct the exploration work in the disputed area.

“We are trying to find out the nationalities of the workers involved in the exploration works,” he added.

He said Dhaka would also urge the governments of those workers to ward off their nationals from working in the disputed territory.

Bangladesh and Myanmar signed an agreement last month to force their hands to resolve outstanding issues including a row over Rohingya refugees in Bangladesh.

Source: Bdnews24