Irregularities and apathy have become a permanent feature of project implementation in Bangladesh, thanks to which no infrastructure is ever ready on time.
The delays mean, the costs are invariably raised — and this has become commonplace in the country.
But yesterday, the unusual happened: the government slashed the allocation for two projects that were meant to help the poor.
Everything was going well for the online tax return filing project until the end of 2019.
The first online tax return filing scheme — Bangladesh Integrated Tax Administration System (BITAX) — completed on June 2018 and the National Board of Revenue’s agreement with the vendor expired on 29 November 2019.
Just a month later, the first blow came from the then NBR Chairman Md Mosharraf Hossain Bhuiyan.
Bangladesh’s budget deficit may shoot to as high as 10 per cent of the GDP in the current fiscal year as the government would have to keep spending more to tackle the brunt of the coronavirus pandemic amid a drastic fall in revenue generation, the World Bank said.
The Washington-based multilateral lender………
The central bank yesterday decided to introduce a credit guarantee scheme for the micro and small enterprises, the first of its kind in the country, giving a much-needed lifeline to the SME sector struggling to stay afloat.
The board of the Bangladesh Bank approved the scheme worth Tk 2,000 crore for the entrepreneurs in the cottage,………
With an eye mainly on China, India has amended rules imposing restrictions on public procurement from bidders of countries with which it shares land border, citing grounds of defence and national security, reports our New Delhi correspondent.
Bidders from these countries will be eligible only if they are registered with the Registration Committee constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) ….
The government yesterday gave yet another stimulus package worth Tk 3,000 crore for the export-oriented industries to help them provide wages and salaries to their workers for July.
This is the third stimulus package for the export-oriented industries, which are now actively running their units, since March.
