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June 8, 2021 - Mohammed Hatem, First Vice-President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Arif Saleh, Executive Director of BRAC, exchanging document after signing a MoU to develop the health of RMG workers. The MoU signing ceremony held at BKMEA office in the capital on Sunday while top executives from both sides were present.
June 8, 2021 - Dr. Mohammed Haider Ali Miah, Managing Director and CEO of Exim Bank Limited, inaugurating the bank’s Shikaripara sub branch at Nawabganj in Dhaka on Sunday. Md. Feroz Hossain, AMD, Md. Humayun Kabir, DMD and other senior officials of the bank were present.
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June 6, 2021 - Rizwan Rahman, President of Dhaka Chamber of Commerce & Industry (DCCI), speaking at a press conference in its conference room on Thursday.
June 6, 2021 - Md Jashim Uddin, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) speaking in a press briefing on the proposed budget for 2021-22 fiscal year at the FBCCI building in Motijheel on Saturday. Other leaders of the federation were present
June 6, 2021 - Nizam Uddin Ahmed, Chairman of Meghna Life Insurance Company Limited (MLICL), cutting a cake marking the 25th anniversary of the company at its head office in the capital recently. Nasir Uddin Ahamed Pavel, Vice-Chairman, Hasina Nizam, Riaz Uddin Ahamed, Shabita Ferdousi, Sharmin Nasir, Dilruba Sharmin, Directors and N. C. Rudra, CEO of the company were present.
May 21, 2021 - Md Ataur Rahman Prodhan, CEO and Managing Director of Sonali Bank Limited and Humayun Kallol, Chairman of Payera Port Authority, exchanging document after signing a loan agreement on Tuesday at the bank’s head office on Tuesday. Under the deal, the Payra port will get 524.56 million euros at 2.0 per cent interest rate with a grace period of three years. Sonali Bank will disburse the amount to the Payra Port Authority to maintain the dredging of Ramnabad channel and it will repay the loan in seven years in six monthly installments. Top officials from both parts were present.
May 21, 2021 - S M Parvez Tamal, Chairman of NRBC Bank Limited, presiding over the bank’s board of directors meeting at its head office in the capital on Thursday held virtually. Mr. Rafikul Islam Mia Arzoo, Mohammed Adnan Imam, Loquit Ullah, AKM Mostafizur Rahman, Directors, Dr. Khan Mohammad Abdul Mannan, Air Chief Marshal Abu Esrar, (Retd), Independent Directors and Golam Awlia, Managing Director & CEO of the bank were present. The meeting approved the unaudited first quarter financial statement of current FY.
May 21, 2021 - Kazi Nazrul Islam, Company Secretary of Electricity Generation Company of Bangladesh Limited (EGCB) Limited and Hidenobu Kashiwaya, General Manager of Power Business Department of Marubeni Corporation, Japan, exchanging document after signing a MoU at Power, Energy and Mineral Resources Ministry in the capital on Thursday. Under the deal, EGCB and the Japanese company will jointly set up 100MW Solar PV Power Plant Project in Feni. State Minister for Power, Energy and Mineral Resources Nasrul Hamid, Md. Habibur Rahman, Secretary of the Ministry and ITO Naoki, Japanese ambassador to Bangladesh joined the function.
May 10, 2021 - UGC finalizes guideline for public universities to hold online exams
May 10, 2021 - Jasim Uddin elected FBCCI president
May 10, 2021 - Sheikh Nadir Hossain Lipu, Chairman, Bangladesh Milk Producers Co-operative Union Limited, inaugurated a sub-branch of Islami Bank Bangladesh Limited at Kotalipara in Gopalganj as chief guest on Thursday. Md. Abdus Salam, Head of Khulna Zone of the bank, Sheikh Md. Kamal Hossain, Mayor, Kotalipara Pourashava and Bimol Krisno Biswas, Chairman of Kotalipara Upazila Parishad, were present.
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April 2, 2021 - Professor Satya Prasad Majumder, VC of BUET along with Abul Kashem Md. Shirin, Managing Director & CEO of Dutch-Bangla Bank Limited, inaugurating a Fast Track at BUET campus premises on Thursday as chief guest. Prof. Dr. Abdul Jabbar Khan, Pro VC of the university
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April 2, 2021 - MHM Fairoz, Managing Director & CEO of Singer Bangladesh, along with other senior officials launching special edition refrigerators to mark the 50 Years of Independence of the country at the company’s head office on Friday.
April 2, 2021 - Md Mosaddake-Ul-Alam, Managing Director of Ansar-VDP Unnayan Bank, paying tribute by placing wreath at the National Martyrs’ Memorial in Savar on Friday. Bank’s General Mangers Mohammad Alauddin and Z M Hafizur Rahman, among others, were present.
April 2, 2021 - Syed Waseque Md Ali, Managing Director of First Security Islami Bank Ltd, inaugurating CRM Booth at the bank’s Head Office recently. Additional Managing Directors Abdul Aziz, Md Mustafa Khair and Deputy Managing Director Md ZahurulHaque, among others, were present.
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April 2, 2021 - M Amanullah, Vice Chairman of the Mercantile Bank Limited, inaugurating Dakpara sub-branch in Keraniganj by cutting ribbon at the Head Office of the bank. Bank\’s Managing Director & CEO Md Quamrul Islam Chowdhury, Vice Chairman Akram Hossain (Humayun), a

Budget FY22: Education might get costlier at private institutions

Finance Minister AHM Mustafa Kamal, in his budget speech in parliament on Thursday, proposed imposing a 15% tax on the total income of private educational institutions, a move which may end up becoming a burden for thousands of students.

The effects of the proposed tax on private colleges, private medical colleges, dental and engineering colleges, and private universities may ultimately trickle down to the students.

Many students and guardians fear the educational institutions will increase tuition fees and other expenditures if the finance minister’s proposal is eventually implemented.

This will mean double trouble for both students and guardians as they are already facing a financial crisis caused by the coronavirus pandemic, they said.

“We are doing online classes and the university authorities did not reduce our tuition fees at all. In such conditions, if the government imposes a tax on them, then we will be the victims. They will increase our tuition fees to earn more money,” said a worried private university student.

Teachers also unhappy

“In civilized countries, there are no rules to impose income tax on private universities,” said a professor who is an adviser to a private university. Preferring anonymity, he strongly opposed the finance minister’s proposal.

He continued: “The university authorities do not spend the money [profit earned] for their own expenses because private universities are non-profit organizations; rather they develop the education system, give scholarships to students, buy land to expand university premises and do other development work. If they have to give 15% income tax to the government, then there is no alternative to increasing tuition fees.”

Sheikh Kabir Hossain, President of the Association of Private Universities of Bangladesh (APUB), urged the government to revise the decision before finalizing the budget.

He said: “During the Covid-19 situation, even as the private universities are facing a fund crisis, the imposition of a 15% income tax on them by the government will exacerbate the crisis even more.”

Mobile phones to get costlier too

Imran Hossain, a medical student, wanted to buy a new phone this year as he has to do online classes regularly. His choice was a smartphone of a foreign brand because he had little trust in the products manufactured in Bangladesh.

However, in the 2021-22 fiscal year’s budget, the Value Added Tax (VAT) on mobile phones has increased to 25% from last year’s 10%. As a result, it is obvious that the price of mobile phones will increase and now he is anxious about how he will manage the money to purchase a good phone.

The prices of imported juices, fruits, tiles, kitchenware, cosmetics and a few other things will also increase.

VAT exemption on menstrual hygiene products

Meanwhile, sanitary napkins being an important commodity for women, they appreciate the VAT exemption on it.

However, Taheatul Jannat Remi, the founder of Nandita Suraksha, a platform that works to ensure menstrual hygiene products for marginalized women and adolescents in Bangladesh, does not consider it in such a positive light.

She said: “One who can buy a packet of sanitary napkins for Tk100 can very well buy a packet for Tk110. So, it won’t change the situation for rural women. They still cannot afford it.”

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