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HC declines to hear bank-loan case after ministers phone call n Nazmus Sakib
The High Court yesterday declined to hear a bank loan-related suit after receiving a phone call from a minister and sent the case to the chief justice for appropriate order. The High Court bench of Justice Sharif Uddin Chaklader and Justice AKM Shahidul Huq said: During the hearing of this matter, a minister called one of us. Therefore we are not inclined to hear this matter. Let this matter be placed before the chief justice for appropriate order. Md Asaduzzaman, the lawyer of the defendant, told the reporters that for the first time the High Court had declined to hear a case and sent it to the chief justice after receiving phone call from a minister. When the suit came for hearing, the High Court bench said they would not hear the matter because of a ministers lobbying through phone call, said the lawyer. However, in the order, the court did not disclose the name of the minister and for whom they had lobbied, Asaduzzaman said. According to the case details, one SMA Muhith, owner of Barendra International, took a Tk70 lakh loan from the Jamuna Bank in 2002 by mortgaging property worth more than Tk4 crore. The bank said Barendra International owed Tk2.17 crore including interests. But the borrower claims he owes the bank only Tk84 lakh. Jamuna Bank then sold off the mortgaged property for Tk1.20 crore through an auction, Md Asaduzzaman said. Barendra came to the High Court with a writ plea alleging fraud in the auction. But the court said the petition was not maintainable in the High Court as allegation of fraud was subject to proof. Then they went to the lower court and obtained order for themselves. But Md Hossain Khan, who had purchased the property, challenged the lower courts order by filing a civil
SYED ZAKIR HOSSAIN
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As our party chief has written to the grassroots, those who will violate the directive will face action
of 98 where the first phase of elections would be held on February 19. The BNP managed to keep single candidate in 25 upazilas while its ally Bangladesh Jamaat-e-Islami is set to vie in 20. The BNP left two seats for Jamaat. But in the 18 other seats, Jamaat will fight for the chairman posts alongside the BNP-supported contenders. According to another source, the AL has chosen single candidates in 44 upazilas while there will be more than one aspirant in 52 upazilas. The BNP has got single candidate in 45 upazilas and more than one in 45 others, while Jamaat-backed candidates filed nomination in 28 and HM Ershad-led Jatiya
Parents crowd with their children in front of a vaccination centre in Mirpurs Kalshi Balughat area yesterday
6 cases filed against 525 RU students Dhaka seeks uplift of Chhatra League expels two gun-wielding leaders Rakhine state for n Rohingya repatriation
Tribune Report
Rajshahi University authority, police and Bangladesh Chhatra League yesterday filed six cases against 525 students over Sundays incident on the campus that left scores of agitating students injured. However, no legal action was taken against the two gun-trotting activists of the Chhatra League who fired on students who were demonstrating against the university authoritys decision on increasing fees and introducing evening courses. Only, Chhatra League, the student wing of the ruling Awami League, expelled the two activists from the organisation. Universitys acting registrar Prof Saad Ahmed had filed two cases one for explosion and another for vandalism against 250 students, naming 50 of them, said Abdul Momen Sarkar, investigation officer of the cases. Motihar police station OC Shamsun Nur told the Dhaka Tribune that police had lodged two cases against 195 students over the incident. Chhatra League filed two other cases against 80 students, naming 10 including RU unit Shibir President Ashraful Alam Emon. No cases were filed in connection with the assault on demonstrating students. The law enforcement agencies could not also arrest as of yesterday any of activists who had swooped on the agitating students and fired at will on Sunday. Education Minister Nurul Islam Nahid said actions would be taken after investigation against those who had been involved in the Rajshahi University incident. He said he was sorry, worried and angry with what had happened in Rajshahi University and that the ministry had asked the VC to take measures so that the university could be reopened. Nahid, however, claimed that activists of the Islami Chhatra Shibir, student wing of the Jamaat-e-Islami, had joined the students movement and tried to incite violence. Asked about Chhatra League activists seen with arms, Nahid told reporters that whoever was involved would
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mit to consider whether it is possible for some of those people to start going home. But the time hasnt come yet; so until that time comes, it is important to continue to provide the humanitarian support, not to push back those that are fleeing for violence and persecution. Meanwhile, Foreign Secretary Md Shahdiul Haque told the Dhaka Tribune that the Rohingya problem was created by Myanmar and it must be solved by them.
INSIDE
Business
B1 The government is contemplating to change the corporate tax structure as well as bringing out of the box the high rate of interest on bank loans
Bangladesh is overburdened with problems as it has very limited capacity and the US understands that
Myanmar needs to address the citizenship of the Rohingyas to solve the problem, he said. Another diplomat, seeking anonymity, said Bangladesh has been providing humanitarian assistance to Rohingya refugees for over 30 years and it is committed to do so. But Bangladesh is overburdened with problems as it has very limited capacity and the US understands that, he said. Dhaka wants to have more engagement with Naypyidaw and an arrangement is expected between the countries for holding security dialogue to address non-traditional security threats, the diplomat added. Our prime minister [Sheikh Hasina] visited Myanmar in 2011 and we expect to have its president [Thein Sein] in
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Op-Ed
11 No government can be long secure without formidable opposition, said Benjamin Disraeli. The 19th century British prime minister is incorrect as far as Bangladesh is concerned.
Now it is a challenge for them to eat and do their other daily activities. A visit to the victims houses re-
vealed that the victims were battling for survival, let alone going to school.
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DHAKA TRIBUNE
News
Members of Doctor for Health and Environment form a human chain in front of Dhaka Medical College and Hospital, demanding safe roads in the capital yesterday
RAJIB DHAR
A seven-year-old victim, Fahim, was seriously injured in a cocktail explosion on January 6 in the capitals Moddho Badda area around 8:30am. The second grader from Badda Government Primary School was recently released from the National Institute of Traumatology & Orthopaedic Rehabilitation (NITOR) on January 29. The kid was spotted at his home sitting idle and looking vacant. Whilst he was supposed to be in class, he was instead continuously fighting against his physical challenges. Violent politics forced the child to accept the challenge, rather than a smooth future. Fahims mother, Nasima Begum, 35 a garment worker in Manson Garments Ltd in the area, broke down in tears. She said: My son became crippled for life. Nothing can be done now. He cannot go to school although he has new books. My son cant eat with his hands. I feed him. How can he write when he cant move his fingers? she asked. The cocktail blew off three fingers of his left hand, and two of his right. He also received injuries to his belly. The mother said she hadnt got
any support from the government or anyone else. We had to spend over Tk30,000 on his treatment. The doctors took flesh from his leg for surgery. They advised Nasima to visit them once in a week. The entire family depends on her income, Nasima said, adding that she drew a salary of Tk7,000 of which Tk2,800 was used for rent. Innocent looking Fahim told the Dhaka Tribune he wanted to be a doctor. He said: I love to study and my teachers. I want to go to school again. Another victim a third grader Tofazzal Hossain, 11, from the capitals Tejgaon area, lost his index, middle and ring fingers of his right hand in the blast on November 20, 2013. His left hand was badly hurt too. His father, Jamal Hossain, 50, a rickshaw puller, said Tofazzal had gone to his village home in Kishoreganj. Schoolteachers said they would promote my son to Class IV as he was a brilliant student, said Jamal. The 11-year-old boy vowed that he would practise writing with his left hand. My son wanted to become a police officer, but no one will recruit a crippled person, Jamal said while tears
welled up in his eyes. Lokman, the 10-year-old boy, received splinter injuries to his left hand. He was sent back to his village in Sherpur although he had been studying in Class II in a local Brac School. His cousin Md Alam said: My father is taking care of him in the village. On the night of April 22 last year, a cocktail explosion ripped through the right wrist of Tania, a madrassa student in Hazaribagh. The girl stopped going to school. Currently, she had been staying at home. Tania said: I cant write, and I eat rice with my left hand. Her father Md Rashid, 47, a rickshaw puller, said his dream was to educate his daughter, but now he was worried about her marriage. He added that his daughter was a brilliant student, but the accident shattered her dream. Rashid said: The government only supports Rana Plaza victims, we do not get anything. A bereaved mother Anwara Begum, 35, said: My son died only 40 days before my daughter lost her middle finger in an explosion. We are born to suffer. The accident happened during April 23-24, when the BNP Jamaat called a hartal last year. l
challenge of the 10th parliament, which has 154 MPs elected uncontested, is to make the legislature effective as the Jatiya Party, the second largest party in parliament, has sent its representatives to the cabinet. The BNP-led 19-party alliance boycotted the January 5 national poll. Most of the independent MPs have shown interest in joining the Awami League, but Leader of the House and Prime Minister Sheikh Hasina has not given consent, Shahiduzzaman said. Sheikh Hasina wants strong criticism of government decisions. She really wants parliament to be effective. So, we want to promote them as the opposition, he said. Chief Whip ASM Feroz told the Dhaka Tribune that his party would give maximum encouragement to the independent MPs to play the oppositions role. We want a strong opposition. If they and the Jatiya Party play an active role, parliament will be truly effective, Feroz said. Leader of the Opposition Rawshan Ersahd on the opening day of the 10th parliament told the House that her partys dual role as the opposition and part of the government was a new thought in parliamentary practice. She, however, admitted that she did not know if the two-in-one role of her party would work. Rawshan said the Jatiya Party would extend full support to the treasury bench. The Election Commission declared 297 MPs winners in the January 5 parliamentary polls, with the Awami League bagging 231 seats, JaPa 34 seats, the Workers Party six and the Jatiya Samajtantril Dal five seats. The Tariqat Federation and the Jatiya Party (Manju) got two seats each and the Bangladesh Nationalist Front got one seat. l
revision case with the High Court and secured a stay over the lower courts order. The High Court bench led by Justice Chaklader had earlier heard the matter partially, but it refused to hear the petition after receiving the phone call from
a minister yesterday. Though present at the court during the order, Deputy Attorney General Sashanka Shekhar Sarkar declined to give any information saying the suit was private in nature and the government was not involved in the case. l
Bangladesh in a return visit, the diplomat said. Officially, around 30,000 Rohingya refugees reside in two camps in Coxs Bazar, while about half a million undocumented Myanmar nationals are estimated to reside in Bangladesh. Rohingyas, who are Myanmar nationals, started to come to Bangladesh since there was a first influx in late 1970s following sectarian violence and
ethnic cleansing in the Rakhine state close to Bangladesh border. Last year in December, in a testimony given to the US Senate, Judith Cefkin said nearly 200 people were killed and approximately 140,000 people, mainly Muslims, were displaced after tensions spiraled into violence in June and October 2012; while up to 60,000 Rohingyas fled Rakhine state by boat, the highest number in over 20 years. l
face actions. The home ministry had been asked to take effective measures. Sheikh Rasel, office secretary of Chhatra Leagues central committee, told the Dhaka Tribune that Nasim Ahmed Setu, joint secretary, and Shamsuzzaman Emon, organising secretary of RU unit, had been expelled for anti-organisation activities. It was learnt from Ganabhaban sources that the decision had been made after the Chhatra League president and secretary met Prime Minister Sheikh Hasina. Our Rajshahi University correspondent reports: Universitys acting registrar Prof Saad Ahmed filed an explosives case, naming 60 students, and a case over vandalism, naming 50 students, said investigation officer Abdul Momen Sarkar. Sarker refused to disclose the names of the accused for the sake of investigation. The Chhatra League activists swooped on Rajshahi University students who were protesting against a hike in fees and a move to introduce evening courses at Rajshahi Universi-
ty on Sunday. The ruling party-backed activists and police locked into a clash with the agitating students that left over 100 students injured 20 of them with bullet injuries. The agitating students expressed their frustration as no shooters were arrested after the incident. Police and the university authority did not raid the halls to recover the guns used by the Chhatra League activists. Proctor Tariqul Hasan avoided answering why no raid was conducted, saying: To control the situation students were asked to leave the halls. All steps will be taken as per the decision of the syndicate. OC Shamsur Nur told reporters that police could not raid halls unless the university authority asked them. We are looking for those who were seen brandishing guns during the incident. A protester said the Chhatra League activists had attacked and fired on the students under the very nose of law enforcers. Another alleged that the university authorities had filed cases against ordinary students to foil their movement. General students vacated their halls yesterday by 8am as the university
Syndicate on Sunday night had declared the campus closed for an indefinite period. A number of Chhatra League activists, however, were seen in Bangabandhu Hall until 1pm. The Syndicate formed a five-member probe body led by Prof Khalekuzzaman of geology department to investigate the incident, public relations administrator Prof Eliyas Hossain said. Police on Sunday arrested a protester named Sajeeb Ahmed, a fourth year student of finance and banking; he was sent to jail after being produced before court. Meanwhile, the agitating students declared that they would continue their strike and abstention of classes and examinations from the day the university is reopened. Rajshahi University students had started agitating on January 16 to push their three-point demand withdrawal of the recent decision to introduce evening masters courses under the Social Sciences Faculty, stopping the ongoing evening masters courses at BBA and law faculties, and withdrawal of the recent decision to increase fees. After the attack, the students yester-
day added four more points to their demands resignation of VC Prof Mizanuddin and Pro-VC Prof Chowdhury Sarowar Jahan and the proctorial body, trying the attackers and expelling them from the university, bearing the expenses of the injured students treatment, and ensuring safety of students in the halls. At a meeting with the journalists at his office yesterday, VC Prof Mizanuddin said the violent situation had not been expected on the campus. The law enforcers acted on their own to take the situation under control as the students went on a rampage, he said. University Chhatra League unit President Mizanur Rahman Rana alleged that Shibir was manipulating the students movement. We prevented the Shibir activists, he said. In Dhaka, the Progotishil Chhatra Jote, an alliance of left students organisations, protested the attacks on Rajshahi University students by police and Chhatra League activists and demanded immediate resignation of the university VC, proctor and the law enforcement members on duty at that time, and exemplary punishment to the attackers. l
not bound to obey the party order here. People elected me in the past and they will do the same now so that I can serve them. I will be with the people and the people will also be with me. Political parties cannot interfere in the local level elections, Nizamuddin told the Dhaka Tribune. As there are more than one candidate in more than half of the upazilas, election experts said the local government elections would be a tough fight when festive mood would prevail centring the polls which are taking place after five years. As our party chief has written to the grassroots, those who will violate the directive will face action. There will certainly be some impact in the polls if there is more than one candidate from a party for one post. The leaders and activists will work for the party-backed candidate. So other aspirants will be discouraged and quit the race, Matia Chowdhury, an AL Presidium member, told the Dhaka Tribune. Mohammad Shahjahan, joint secretary general of the BNP, said it was tough to choose single candidate in every seat as the aspirants could not contest the polls under the party banner. When the election campaign will begin, the other candidates of the party may quit the race through announcement and extend support to the party-backed candidate. I hope that the local-level leaders will continue their efforts to pick single candidate in every upazila, he told the Dhaka Tribune. Shahjahan also said the voters never did any wrong, but in some cases the political leaders did mistake. So, I think the national issues will influence the elections which will help the BNP to win more seats. As there is no scope of contesting the polls under a party banner, the political parties have got involved with the electoral process directly and played crucial roles. In many cases, the national issues have overshadowed local issues and drew attention of the voters. During the city corporation polls held
last year, it was seen that the national issues had played a key role to determine the fate of the contenders. Meanwhile, Shushashoner Jonno Nagorik (SHUJAN) issuing a press release yesterday said more than one candidate from different political parties submitted nomination papers to contest the polls. But the political parties have been pressing the candidates to withdraw their candidature only to field one candidate. This is a clear violation of the electoral code of conductwe request the political parties to be respectful to the laws, the statement said.
As many as 1,274 candidates are contesting in the post of chairman, vice-chairman and reserved vice-chairman for women in first phase of polls in 98 upazila parishads. Meanwhile, for the second phase of polls in 117 upazila parishads on February 27, at least 1,852 aspirants of different political parties filed nomination papers yesterday. Deputy Secretary of the Election Commission Mihir Sarwar Morshed said 405 aspirants withdrew their candidature yesterday. There are no uncontested candidates in the chairman post. In Belabo upazila of Narsingdi, highest 19 candidates are contesting for the chairman post, the EC official said. However, one vice-chairman aspirant of Kazipur upazila in Sirajganj and two women vice-chairman candidates of Jajira upazila in Shariatpur and Dupchachia upazila in Bogra are set to be elected unopposed as the other candidates have withdrawn their nomination papers. The candidates will be able to start formal election campaigning after the EC allocates the election symbols. In the first phase of polls, as many as 1,732 candidates filed nomination papers but the returning officers cancelled 112 nominations. After appeals hearing, a total of 49 candidates of the three posts got back their candidature. l
DHAKA TRIBUNE
News
Two workers of Dhaka Medical College Hospital dump clinical waste into a city corporation dustbin yesterday. Though there are specific directives from hospital authorities on waste disposal, this dustbin near the hospital has been long used for the purpose, posing both health and environmental risks RAJIB DHAR
Third witness in PM: Complete river dredging, set up Ganges barrage Paresh in China n Tribune Report Mir Kashem case n Mohosinul Karim cross examined
n Udisa Islam
The defence in the case against war crimes suspect Mir Kashem Ali yesterday ended questioning the prosecutions third witness who on Sunday said the accused and his cohorts had tortured pro-liberation people at Daleem Hotel in Chittagong City to collect information about freedom fighters. Nasir Uddin Chowdhury in his deposition said the accused had ordered his followers in al-Badr force to abduct, torture and subsequently kill innocent civilians for supporting the Liberation War. Defence counsel Mizanul Islam questioned the witness suggesting that Mir Kashem had no control over al-Badr and razakar forces which had collaborated with the Pakistani occupation forces to commit genocide, murder, rape, arson, looting and religious persecution. After the end of grilling, the prosecution sought time to place further witness. The International Crimes Tribunal 2 adjourned the proceeding until February 17. The three-member tribunal led by Justice Obaidul Hassan with members Justice Md Mozibur Rahman Miah and Justice Md Shahinur Islam recorded the cross-examination of the witness. Nasir, a freedom fighter, said he had been captured by the al-Badr men one night in the month of November 1971 and taken to the Daleem Hotel where many more pro-liberation people were tortured. He heard that everyone was captured and tortured upon the order of Mir Kashem, the alleged al-Badr commander of Chittagong during the war. Jamaat-e-Islami Executive Council member Mir Kashem is facing 14 charges of crimes against humanity he had committed in Chittagong in 1971. l Prime Minister Sheikh Hasina has asked the shipping minister to restore the navigability of rivers and canals soon by completing the dredging projects that were started during the previous governments tenure. The instructions came at yesterdays cabinet meeting, chaired by the premier, at the secretariats cabinet conference room. Seeking anonymity, a minister told the Dhaka Tribune that the prime minister also asked the shipping minister about the progress of the capital dredging project, which was initiated under the premiers directive during her previous tenure. Shipping Minister Shajahan Khan termed fund shortage as an impediment in doing the work on time; but Finance Minister AMA Muhith said the government has already provided adequate funds for completing the dredging work. Muhith also suggested the shipping minister to complete the work during the dry season of the November-April period, with funds available for the work after budgetary allocation in July. Senior ministers Amir Hossain Amu, Tofail Ahmed, Matia Chowdhury, Mohammed Nasim and other ministers who had constituencies in the river erosion areas took part in the discussion. The ministers called for the dredging work to be started during the dry summer season as more silt might be removed at that period, while also urging Shajahan Khan to protect the riverbanks. The prime minister also suggested the shipping minister to use the Tk20bn fund of Chittagong port authority, if there was any delay of fund releasing from the finance ministry; and directed him to protect the shoals for peoples use. Meanwhile, the water resources minister was also asked to speed up the project for setting up the proposed Ganges barrage in Rajbari, aiming to protect water resources and increase food production by utilising irrigation. Water Resources Minister Anisul Islam Mahmud briefed the premier about the progress of the project, which was also initiated during the tenure of the past government. Saying the preparation and paperwork for the Ganges barrage project was nearing completion; Anisul expressed hopes that the construction would start shortly if the funds could be arranged. Hasina, however, assured the minister of funding, saying some international donors and countries including China were interested in financing the project. On a separate note, the prime minister directed cabinet members and senior Awami League leaders to assist the seven teams of the party that were formed to select sole candidates for respective seats in the upazila poll. Hasina also said sole candidates had been ensured in 80% areas, while further checks need to be completed in the rest of the upazilas. l
Paresh Barua, chief of Indian separatist group United Liberation Front of Assam (Ulfa) and a death condemned in a 10-truck arms smuggling case in Bangladesh, is now living in China, reports The Times of India. Baruas phone call and other recent developments have cemented inputs that he is living in Chinas Rui Li town, said the report published yesterday. According to sources, Barua has been living in the Chinese town for the past two years. His wife and two sons live in Bangladesh, it added. The matter was revealed when Barua made a frantic call from his China hideout last week to one of his key deputies, Jyotirmoy Barali, who looks after an Ulfa camp in Myanmar, sources said. l
Rajshahi University students leave dormitories and wait for transports yesterday in front of Kajla Gate after the university was declared closed on Sunday night, following the attack on demonstrating students DHAKA TRIBUNE
DHAKA TRIBUNE
News
UPAZILA POLLS
Tailbacks on both sides of Kazi Nazrul Islam Avenue yesterday. Though an everyday scenario on this road, authorities are yet to take any measures to put an end to the commuters' sufferings from this sort of congestion SYED ZAKIR HOSSAIN
ACC arrests one for Tk46 lakh embezzlement n Syed Samiul Basher Anik
The Anti-Corruption Commission yesterday arrested Mostafa Kamal, an accused in two cases filed by the antigraft body in connection with embezzling of around Tk46lakh government money through cheque forgery. ACC Deputy Assistant Director Rafi Nazmus Sadat, also probe official of the case, arrested Mostafa from the capitals Motijheel area. Earlier on August 7, 2012, the ACC filed two cases against four people for embezzlement of Tk46lakh through cheque forgery. The case statement reads the arrestee named Al Amin Ratan as M Mosaddek Ali Sajib in the reference while opening a bank account with One Bank Limited principal branch at Dilkusha in Motijheel. Al Amin Ratan was the main accused who embezzled the amount of money in the name of land acquisition through cheque forgery. The arrestee was brought to the ACC headquarters following the arrest and he was primarily interrogated by the probe official. l
WEATHER
Relatives and co-workers of Dr Murad, who was murdered in Potuakhali on December 3, 2013, form a human chain in front of the National Press Club yesterday, demanding arrest and exemplary punishment of the killers MAHMUD HOSSAIN OPU
PRAYER TIMES
Fajar Sunrise Zohr Asr Magrib Esha 5:21am 6:37am 12:12am 4:11pm 5:47pm 7:04pm
Source: IslamicFinder.org
DHAKA TRIBUNE
News
A syndicate of land grabbers have filled a portion of the Turag river by sand bing the river and polluting the water body by dumping waste. The area pillars will be re-installed, and we will take strong measures to reclaim the river immediately, he added. A visit to the different areas of Gabtoli, Borobazar, Kotbari, Harirampur, Jahanabad, Golartek, Lalpara, Diabari, Sinnirtek, Jagannatbad, Nobaberbagh, Nagarbari eastern part of the river adjacent to the citys Mirpur and Eskabed, Golbari, Knundia, Beg-
satra western side of the river under Harirampur union, revealed that the grabbers built different establishments according to their own sweet will.
Members of Jatiya Sharthe Blogger-Online Activist Forum bring out a torch procession in the capitals Shahbagh yesterday, protesting the combined attacks of Chhatra League and police on demonstrating Rajshahi University students RAJIB DHAR
DHAKA TRIBUNE
Feature
never thought it would happen to me. And then it did, Rumana Monzur, iconic survivor of severe domestic abuse, told the Dhaka Tribune in an exclusive interview earlier this week. To survive is to have a story to tell, to have the chance to show others what
An interview with Rumana Monzur, as part of our weekly series on One Billion Rising Bangladesh, in support of justice for violence against women Rumana was attacked by her hus- and UNFPA suggests a staggering n Syeda Samira Sadeque band in June 2011, when he gouged out 90% of women face abuse by their
her eyes and bit off parts of her nose. Rumana, a former University of Dhaka Assistant Professor of International Relations, was visiting Dhaka on break from Vancouver, where she was a graduate student at that time. The brutal act triggered protests both at home and in Canada. Rumana survived to tell her story, and to completely turn her fate around. After extensive medical treatment, she enrolled as a law student at University of British Columbia in Vancouver, where she lives with her parents and eight year old daughter Anusheh. I am studying law because it makes me legally empowered. I wonder now if I had had this education, if it would have been easier for me to fight my legal battles. Despite the obvious nature of the crime, her husbands family has been trying to claim custody of her daughter, accusing her of faking her blindness, or saying that she will not be able to take care of Anusheh. She has to submit documents to prove that she is visually impaired.
Rumana Monzur with daughter Anusheh in 2013 they didnt see. Or ignored. Rumana, having enrolled in law school after completing her Masters degree, is doing just that: surviving gracefully, and telling her story.
husbands. Those being abused need to understand that showing patience to monsters and demons is wrong. They mistake our commitment to be our weakness. No one needs to go through this to save their marriage. Even after being married to her abusive husband Hasan Sayeed for ten years, Rumana used to be reluctant to reveal her secret. I used to think talking about it would be a matter of shame, so I kept quiet instead. But we must realize it is not us who ought to be ashamed but them, those who inflict abuse on us who should be held accountable, who should be shamed. Rumana says society also has a role to play to create a safe haven for those living in a system of abuse. Instead of facing the judgement and stigma of society, Rumana braved the challenges inside her abusive home, as many still do. The societys attitude must change. If they were supportive of those trying to leave abusive systems, it would be a lot easier for girls to do so.
Saving grace
After it happened in June 2011, the international media was quick to pick up
the story, largely due to the fact that Rumana had an international support system from her friends and colleagues in Canada. In Bangladesh, what stood out about Rumanas case was the fact that she was an educated, financially independent woman in the society. This incident broke the previously held assumption that domestic abuse takes place primarily in lower income homes, to women who are illiterate and unaware of their rights. I never thought despite having a Masters degree, despite my financial independence, I would face this, Rumana says. After the incident, her husband justified his attack by accusing her of having an affair with an Iranian man. Some local media agencies also capitalised on the controversy, falsely reporting or validating rumours - mostly triggered by her husbands family - that soon after the attack she had remarried or that she was faking her blindness. But she was lucky that this time, society took the side of the woman. The support that poured out after my attack was overwhelming. It showed me that for the 10% of people who believe in these false rumours and thought [the incident] was justified, there is the other 90% who supported me.
Regaining equilibrium
Three years since the attack, Rumana is still trying to come to terms with what happened. I really dont know why this happens. But I know that a relationship must be about mutual respect. I used to hear news of acid attacks, wives being burnt. But we never realize just how traumatising it is until it happens to us, Rumana says. But today she is coping. Ive igured out alternative ways to communicate with my daughter, she laughs adding that she plays with her, cooks for her among other things. She is the reason I am trying to go back to a normal life. I always try to stay positive because I know I have to bring her up. I know I have to live a meaningful life. A meaningful life indeed, for a victim who turned herself into a survivor. A survivor who, now that she has come out of the abuse system, says we must be careful about our society, and not overlook any derailments in the system. We mustnt look at domestic abuse as news anymore: its not news, its a situation that any one of us can be in any day.l
98%
33%
RAPED BY HUSBANDS
50%
8 OUT OF EVERY 10 WOMEN IN BANGLADESH SUFFER FROM PSYCHOLOGICAL ABUSE, ACCORDING TO THE SURVEY
A survey conducted in 2011, which was published on the Bangladesh Bureau of Statistics website in 2013, has revealed that 9 out of 10 Bangladeshi women are subject to domestic violence. The survey, titled Report on Violence Against Women (VAW) Survey 2011, was designed by BBS, the Institute for Statistical Research and Training at Dhaka University, and United Nations Population Fund (UNFPA).
The countdown begins for the worlds largest South Asian art event, February 7 9 Meanwhile Elsewhere is part of temporary art and through Raqs Media all the billboards are seen collectively, n Tasnuva Amin Nova it is meant to reveal a combination of the Untimely series, one of Raqs Me- Collective. They have participated in
ystified about the clocks that have suddenly sprung up on billboards all over the capital? They are part of a public art project titled Meanwhile Elsewhere by the Delhi-based Raqs Media Collective, commissioned by the Samdani Art Foundation for the 2014 Dhaka Art Summit. This is their largest public art project to date, said Nadia Samdani, the Founder and Director of Dhaka Art Summit. Competed yesterday, the project covered ten billboards and 150 roadside signs with the image of a clock but contrary to traditional clocks, these show Bangla words instead of numbers, representing a subjective interpretation of time. The billboards feature clocks whose minute-hands show one word and the hour-hand another. These words or phrases complement each other, hinting towards a deeper meaning. When different states of mind and being during different times of the day, crafted into a poem. The final piece is the Crazy Clock video installation, to be unveiled at the Dhaka Art Summit. The hands will spin around pause on a crazy message. The Summit will be taking over the four floors of the Shilpakala Academy from February 7-9. Billed as the worlds largest South Asian art event, the Dhaka Art Summit will highlight the regions contemporary art scene. The concept behind the clocks is to examine the way we look at billboards, and subjective experience of time and duration, the artists said. Research suggests that reading words on walls or commercial signposts can create a strong effect on the subconscious. It captures the readers moments between awareness and unawareness after reading certain words. Despite being present in the situation, our minds can wander off somewhere else. Hence, the project title. dia Collectives experiments with time and the metaphorical possibilities of time. Other installations of the series have been exhibited around the world. In Birmingham, UK, in 2012, Raqs Media Collective did a similar installation of clocks billboards with English words, called: Whenever the Heart Skips a Beat, as part of the 48 Sheets project. The first of such clocks by the Raqs were seen in Emoo Art.ficial Exhibition, Ita Cultural Centre, Sao Paulo, Brazil in 2002. The theme there has remained the same for this installation in Dhaka: to nudge our mental state of being or feeling with words, representing emotions we contemporaneously feel within: epiphany, panic, remorse, nostalgia, fear, ecstasy, awe, fatigue, guilt, indifference, anxiety. Jeebesh Bagchi, Monica Narula and Shuddhabrata Sengupta, who designed the project, are practitioners of con-
many major international shows, including The European Biennial of Contemporary Art in 2008. Diana Campbell Betancourt, artistic director of Samdani Art Foundation, is curator of the initiative. l
One of the Meanwhile Elsewhere billboards reading: fuzzy/logic, sharp/intense outside Shilpakala Academy, the venue for Dhaka Art Summit MAHMUD HOSSAIN OPU Jeebesh Bagchi, Monica Narula and Shuddhabrata Sengupta, designers of the project
Raqs Media Collective, commissioned for 48Sheet in partnership with the Ikon Gallery, Birmingham
Raqs Media Collectives installation Now Elsewhere (2009) at the Faurschou Foundation in Copenhagen
DHAKA TRIBUNE
International
n Agencies
Syrian government forces have attacked a number of Aleppos districts with barrel bombs for a third day, with scores of people killed over the 72-hour period, according to monitor groups and sources. The latest attack across the countrys second city on Monday killed at least 30, sources told Al Jazeera. Unverified activist footage show children were among those wounded in the attack. The attacks took place on Hanano, Sakour, Shaar and al-Hedariya districts in Aleppo. The bombing adds to a toll of at least 150 people killed in similar attacks over the previous two days, as reported by the UK-based Syrian Observatory for Human Rights. Barrel bombs have killed more than 700 people in Syria in the past six weeks. Their use has been denounced as indiscriminate, not least by Western powers at last weeks peace talks in Switzerland. Sundays attacks included a wave of barrel bombs in the residential district of Tareq al-Bab. A reported 21 people were killed, including 13 children, according to the observatory. Another 15 died in air raids and barrel-bomb attacks in other areas. The observatory reported 85 deaths to similar attacks on the city on Saturday. Western powers proposed a UN Se-
curity Council resolution in December to condemn the use of barrel bombs, which they say indiscriminately target civilians. But Russia, a staunch ally of President Bashar al-Assad, has repeatedly blocked such plans in the Security Council. Once Syrias economic hub, large parts of Aleppo have been devastated by the fighting that began there in mid2012. The city is split into areas held by regime and rebel forces. The reports of fresh attacks come as a UN-organised meeting began in Rome to secure more donations for humanitarian aid for victims of the Syrian war. The meeting, which is being attended by international organisations and state representatives, comes weeks after a summit in Kuwait, where nations pledged more than $2bn to aid. The UN has set a target of more than $6bn. Jacky Rowland, reporting from Rome, said that the UN was looking at a grim future for Syria. We are going to have more violence, and more people displaced, she said. There are already two million refugees, most in neighbouring countries, and they expect that number to double by the end of the year. There is also a big question about who is giving these people protection. There have been repeated calls for wealthy nations to open their borders to refugees. l
A Syrian man carries the body of a victim out of the rubble of a destroyed building after an alleged air strike by Syrian government forces on the northern Syrian city of Aleppo AFP
Children walk out of the premises of a high school, where a shooting incident has occurred, on the outskirts of Moscow REUTERS One policeman was fatally wounded during the operation and died in hospital, and a teacher at School No. 263 was also killed, he said. The shooting sent dozens of students scurrying out the school while a police helicopter landed in a snow-covered field outside. l
DHAKA TRIBUNE
International
Pakistani investigators inspect the site of a grenade attack in a cinema in Peshawar Sundays attack happened at a time when the government of Pakistan has announced the formation of a committee to hold talks with the Pakistani Taliban, Al Jazeeras Kamal Hyder reported from Islamabad.
AFP
There are fears in Pakistan that as the prospect for talks improve, there would be attacks to sabotage the peace talks. l
Malaysian court jails man who raped, then married minor n AFP, Kuala Lumpur
A Malaysian court on Monday sentenced a man to 12 years in jail for raping a 12-year-old whom he later married, as an activist urged the Muslim-majority nation to ban all child marriages. The district court in Sabah state on Borneo island found former restaurant manager Riduan Masmud, 41, guilty of raping the girl in February last year, his lawyer Ram Singh said. The father-of-four was charged with rape shortly after the act, but in May last year told the court that he had married the girl. The case caused an outcry and prosecutors continued to pursue the rape charge. The court says even though the marriage is still valid, he is guilty of rape, Ram told AFP, adding he would appeal the verdict. Riduan was also sentenced to a fine and two strokes of the cane. The court deferred the sentence pending appeal. Ram said Riduan was also facing bribery charges in a separate court for paying the girls father 5,000 ringgit ($1,500) to give his consent to the marriage. Child marriages are not uncommon in the conservative Southeast Asian country. Some 60% of Malaysias 28 million people are Muslim. Girls below the age of 16 must obtain the permission of Islamic courts, which regulate civil matters for Muslims. But activists say such permission is too readily granted. l
Thai protesters head for Thousands of Indias disabled downtown Bangkok protest to demand equal rights
n Reuters, Bangkok
Thai anti-government protesters who have been camped out in north Bangkok packed their tents and marched downtown on Monday as they consolidated efforts to topple Prime Minister Yingluck Shinawatra, a day after a disrupted general election. Some joined protest leader Suthep Thaugsuban on foot and others followed in cars and six-wheel trucks as Thailands long-running political conflict showed no sign of ending. Others surrounded a government office in north Bangkok where Yingluck and two senior ministers had been holding a meeting and cut through a barbed-wire fence. They did not enter the building and it was unclear if Yingluck was still inside. The protesters closed camps at two of the seven big intersections that they have blockaded since mid-January, at Victory Monument and Lat Phrao, and were heading for the fringes of the central oasis of Lumpini Park. A third camp run by an allied group at a big government administrative complex may also be closed. Suthep said on Sunday this was being done out of safety concerns, but it could also be because their numbers are dwindling. Reuters put the number of marchers at about 3,000, with hundreds surrounding the government office. Sutheps movement is now crumbling, but it still has powerful unseen backers, said Chris Baker, a historian and prominent Thailand scholar. Backdoor negotiations are needed because both sides will avoid any direct confrontation in public view. The business lobby should revive its efforts to play the intermediary role. Sutheps supporters on the route showed no sign of crumbling, waving flags and handing over money. The demonstrators blocked balloting in a fifth of the countrys constituencies on Sunday, saying Yingluck must resign and make way for an appointed peoples council to overhaul a political system they say has been taken hostage by her billionaire brother and former premier, Thaksin Shinawatra. The election, boycotted by the main opposition party, is almost certain to return Yingluck to power and, with voting passing off peacefully across the north and northeast, Yinglucks supporters will no doubt claim a legitimate mandate. But the vote is unlikely to change the dysfunctional status quo in a country popular with tourists and investors yet blighted by eight years of polarization and turmoil, pitting the Bangkok-based middle class and royalist establishment against the mostly poor, rural supporters of the Shinawatras. The election was peaceful, apart from a few scuffles, with no repeat of the chaos seen the previous day, when supporters and opponents of Yingluck clashed in north Bangkok. Seven people were wounded by gunshots or explosions. l
Indian disabled people hold placards as they assemble at India Gate during a protest in New Delhi AFP Basically my school taught me nothing at all. The school had no teachers for deaf students and there were no alternatives. They just kept trying to force me to speak even though they knew I was deaf, Singha said. Some disabled groups have opposed the bill, which would replace one from 1995. They say the latest draft has been watered down, and for example does not define people with psychosocial problems as disabled. But Mohammed Umar, who contracted polio when he was three and walks with crutches, said the bill would increase the chances of disabled people finding jobs. We are pushed into the margins of society. People wont give us jobs, even our own families consider us a burden and this is especially so in rural areas, said Umar from Jais city in neighbouring Uttar Pradesh state. The bill, modelled on the United Nations Convention on Rights of Persons with Disabilities, raises the quota of government jobs reserved for people with disabilities from 3 to 5%. It also makes private companies accountable for creating a disabled-friendly environment for employees and visitors. l
Millions were separated from family by the 1950 53 war In a surprise move that coincided with a series of other apparently conciliatory gestures, North Korea offered last month to host a reunion and asked South Korea to pick the dates. Seoul quickly proposed February 17-21, but given the time that has since elapsed that schedule now looks optimistic. The reunion programme began in earnest in 2000 following an historic inter-Korean summit. Sporadic events since then have seen around 17,000
AFP
relatives briefly reunited. If the Mount Kumgang gathering goes ahead, it would be the first reunion since 2010 when the programme was suspended following the Norths shelling of a South Korean border island. A reunion with around 100 people from each side had been planned last September but Pyongyang cancelled at the last minute, citing unspecified South Korean hostility. l
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DHAKA TRIBUNE
Editorial
LETTER OF THE DAY
Letters to
the Editor
t is disgraceful that Bangladesh Chhatra League activists have been assaulting fellow students during demonstrations at Rajshahi University. Over 100 people, including a Dhaka Tribune reporter were injured after Bangladesh Chhatra League cadres attacked demonstrating students at Rajshahi University on Sunday. Policing of demonstrations is a matter for the police to act on within the confines of the law. There is little doubt that the violence which erupted, would not have occurred during a demonstration involving so many ordinary students, had not BCL supporters behaved so thuggishly. Around 5,000 ordinary students had been holding protests against an increase in tuition fees at the Rajshai campus, when BCL members began wielding firearms and shooting at random into the crowds. It is not acceptable for the police to have stood by while BCL thugs openly used illegal firearms.We expect the police to arrest anyone who brandishes illegal firearms.Police ended up firing rubber bullets and teargas shells to disperse everyone and the university has had to be closed to ensure safety. The violence at Rajshai follows recent incidents of lawbreaking by BCL members at other institutions, notably Tangails Maulana Bhashani Science and Technology University where Chhatra League members vandalised academic buildings, reportedly because they objected to a teacher criticising students and outsiders who collected extortions from the campus, on his facebook page. Action needs to be taken by law enforcers to arrest the Chhatra League activists who were seen and photographed brandishing firearms at Rajshahi on Sunday. Student groups must not be allowed to terrorise other students and break the law with impunity.
To set an example
February 1 A story was published on January 28 showing an example of a minister on a dais smoking in public. This was an insult to all teachers, parents and guardians of young students who were present at the function. His example is shameful beyond any norms of public behavior. If he has not already done so, he should immediately be made to bid farewell from his position, and then punished as per the law, for violating the law of not smoking in public. A guardian
We expect the police to arrest anyone who brandishes illegal firearms. Student groups must not be allowed to break the law with impunity
Write to us at: Dhaka Tribune FR Tower, 8/C Panthapath Sukrabad, Dhaka-1207 Email us at: letters@dhakatribune.com Send us your Op-Ed articles: opinion@dhakatribune.com Visit our website: www.dhakatribune.com Come join our Facebook community: https://www.facebook.com/DhakaTribune
Be Heard
January 28 His death is a tragedy. So many rumours about him that we cant be sure what is true and what is false, but he was a victim. That much is clear. Nazmul Khair
January 28 Not just a faster one but a fair and neutral one. Ahnaf Saber
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Op-Ed
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offer to play Test matches against the three at home and away. The question is, whether this promissory note is a bait to secure the vote or not. They spoke about guarantees too. All three (ECB, CA, and BCCI) have extremely busy schedules that are set up years ahead. Matches against Bangladesh will only happen if they have slots available for us, and hence my suspicion.
A feeling of emptiness
n Yousuf Rahman
AFP
Limits of acceptability
he empty stands at the Mirpur Cricket Stadium during the first Test against Sri Lanka are extremely disappointing, not only for those who follow Bangladesh cricket, but also for those who are engaged in the middle. This was not the case when we played our last Test series against the Kiwis not too long ago. It is a clear sign of their frustration with Bangladesh cricket, which I hope does not convert into rejection. With all the controversies circling in the global cricketing arena, now is the time for the fans to show their strength in full force by turning up for the matches. At the same time, the blokes in cricketing flannels need to gather themselves, harness their energy, and focus on the job at hand, which is to play competitive cricket. Unfortunately, the result is going to give the critics of Bangladesh cricket added ammo to fuel the fire against our cricket. The BCB administrators need to understand the value and power of its vote, but first of all, they need to understand the value and strength of the fanbase that ranges from a fiveyear-old to an 80-year-old, regardless of religion, gender, or occupation. This is a huge bonus, which the BCB has failed to take advantage of. Bangladesh carries a powerful vote that may be a pivotal one in the ICC, and not to use this wisely would be a sin. Both India and Pakistan understood the power of this vote a long time ago, and hence the strategic move to upgrade Bangladeshs status in international cricket.
Play for the logo on the front of your shirt, not the name on the back
N
n Ikhtisad Ahmed
o government can be long secure without a formidable opposition, said Benjamin Disraeli. The notable 19th century British prime minister is incorrect and irrelevant as far as Bangladesh is concerned. An argument can be made that there is no need for an opposition. Parliamentary practices, especially in the 21st century, have developed by working tirelessly to first lessen, then altogether remove, the effectiveness of the opposition. At least the 10th parliament cannot be accused of hypocrisy or lies: It has rid the country of the pretence of an opposition. The current one was part of the ruling alliance. Its members are ministers, its chairman is the prime ministers special envoy. The party was going to boycott what it called a farcical election, then joined it under the leadership of the new opposition leader while its head was nowhere to be seen or heard from. It would not be a stretch to say that it has been colonised by the ruling party. The other big collective of opposition comes in the shape of rebel Awami League leaders who ran as independent candidates. None of these will boycott parliament and gleefully take to the streets to make a violent point as the members of AL, BNP, and
Jamaat have done when in opposition. The country should unite to thank the current government for preserving the sanctity of the constitution and bestowing this kindness unto its long-suffering people. However, every hero, real or imaginary, needs a villain, or the perception of one. With the BNP Jamaat alliance no longer a legitimate opposition after the controversial 10th general election, the new AL government is an absolute force sans any antagonist.
cause them to collapse, to the issuance of permits for these buildings, from the persecution of minorities to the prevalence of anti-liberation sentiments, being the work of members of the previous nefarious regime. Earthquakes, floods, and other acts of God, and all acts of men, were their fault. There was good reason to be convinced that corrupt, inept, and criminal organisations were so wholly responsible. Such convenient excuses to deflect
Calling a hat a chair works for only so long. By ordinary standards, this time limit has expired
The former and their undesirable activities have mercifully been expelled from the sphere of governance. The cost of achieving this, regardless of its permanence, is that the demigods of the latter have been elevated to the status of gods, making them wholly impervious to the law. They should, however, expect stricter scrutiny of every single one of their actions hereafter. The AL has been in power for five years, during which time it pointed fingers at the evil that was, from foundations of buildings being shaken to
attention from its own failings of which there were many, as there were during the BNPs preceding rule have been negated by the BNP Jamaat problem having been left out of the latest election equation. Past failings causing present ills too are now the doings of the AL, owing to the last half a decade of its governance. Even though the media and the educated and elite classes are not shouting it from the rooftops yet, all fingers are firmly pointed at a government that is under the microscope. Its strong rhetoric only masks its
many weaknesses. It can be hoped that this will prompt extra vigilance on its part to ensure good governance, but past experience informs that this will certainly not be the case. Calling a hat a chair works for only so long. By ordinary standards, this time limit has expired. If Bangladesh is thought to be an extraordinary case, then that limit is fast approaching. For a start, the AL needs to control its own people, whether it is the actions of its rabid student-wings less a part of the political process and more a personal militia force of the party or the behaviour of its members during lavish campaigns and public events. The other parties need to do so as well, but they are of little consequence as they are, effectively, no longer part of the system of governance. Therefore, if the AL leaders are unable or unwilling to assert themselves on members of their party and rid themselves of the plethora of negative elements that abound, they cannot be expected to give leadership to the people of Bangladesh, the less than half of the less than half of the registered voters that elected them and the others alike. The citizens, whose tolerance, it has to be hoped if not believed, has been stretched to its extreme limits, will be watching. l Ikhtisad Ahmed is a writer and an erstwhile lawyer. He can be contacted on Twitter via @ Ikhtisad.
The BCB administrators need to understand the value and strength of the fanbase
Mr Najmul Hassan has been applauded by his board on getting verbal assurances from the self-styled Big Three on the abandonment of the two-tier Test system followed by a proposed
If the ICC decides to abandon the proposal of the two-tier Test plan, then as it is, our Test match playing status remains unchanged. The proposed promise made by the Big Three to Bangladesh then becomes somewhat redundant. BCB should try to beef up the cricketing relationship with the countries outside of the Big Three, and immediately start working on establishing Test match tours against them. I think it will benefit our cricket a great deal more if we rely on the other members to give us confirmed Test series on a more frequent basis. We dont have to play the Big Three to improve our cricket. Meanwhile, my message to the players is quite simple. No administrator can do as much for the game as you can do through your performance. If you want the fans to fill the stands, then you need to play with mental strength, and prove to them that you are worth cheering for. Play for the logo on the front of your shirt, and not the name on the back. As I have mentioned many times, our fans are some of the most passionate one can imagine. They remind me of the football fans of Europe and Latin America. Only you can bring them back. l Yousuf Rahman is a former cricketer of the Bangladesh National Cricket Team.
t long last, the ten-truck arms case has wound up after the court in Chittagong handed death sentences to the accused. Lutfozzaman Babar and Maulana Nizami are the big ones netted in the case. If higher courts uphold the verdict, these two along with the other 12 will have to walk the gallows. As usual, we have reactions coming in from all quarters. Whatever the outbursts are for, it is true that there have been attempts of ferrying the sophisticated arms and ammunitions to a destination through Bangladesh.
Bangladesh. The outlawed groups are vigorously carrying out their activities in the hills of our country. Long stretches of land in the eastern and south-eastern frontiers are still not safe for many. We have our Shanti Bahini cadres and ULFA activists on the other side of the border. These groups will cause the government worry and trouble for as long as they exist. With war-loving and deprived groups actively working to disrupt the mainland peace, we cannot expect to have our boundaries clean and safe. They never will be. The infiltration of mercenaries and
With war-loving and deprived groups actively working to disrupt the mainland peace, we cannot expect to have our boundaries clean and safe
As in all cases of smuggling or cross-border trading, there has to be two or more parties involved in both sides of the border with a strong set of connections. The entire episode of this high voltage arms consignment is dangerous for
the regular exchange of stealthy visits by unlawful personnel of these underground parties are hard to prevent. We can ill afford to drop our guard and invite threats to our sovereignty. Bangladesh should take up the issue with its neighbouring countries, and
take initiative for joint action against the clandestine groups that operate in the fringes. Against such a backdrop, the ten trucks that were caught with weapons of various descriptions emanate an ominous signal for the nation. It took 10 years for the verdict to be delivered. Proceedings were holed up all this time. Whether persons found guilty were actually guilty shall remain a debate. But trial has taken place, and the verdict has been given. We need to have the wheel of justice moving. Rule of law is not sufficient, as it is the rule of justice that should be made visible. While meting out punishments to the guilty, we must be vigilant not to harm any who are innocent. Past killings, be it gunning down of political leaders, or inconsequential murders, have not received the kind of attention they deserved. From the lowest to the uppermost tier, the suspects were either let off the hook or kept unfastened as long as possible. There are reports of hardcore criminals set free from jails as per directions of powerful quarters of the government. Even the much talked about killings in crossfires should not go unaccounted for. An innocent does not deserve
an accidental death. The culture of impunity should go, plain and simple. The guilty ought to get the treatment they deserve. We must try and establish the rule of justice to heal the wounds of those who are victims of the mindless savagery of the perpetrators. All crimes committed need to come to light, especially if these are state-backed acts. Killings or abductions over the last 42 years ought to be brought to light in the right perspective. And those who did not receive any trial, or a fair trial, should be given attention by the authorities concerned. Killings, abductions, and the maiming of political opposition or social rivals that started during the liberation war went on, even after the liberation of the country. Instead of practicing tolerance and patience, we slipped into the politics of hatred and envy. Today, we are living with a system dangerously out of control. Siraj Sikder, Bangabandhu Shekih Mujib and his family, four Awami League leaders, Khaled Mosharaf, Ziaur Rahman, General Manzur, SMS Kibria, Ahsanullah Master, the bomb blasts at Udichi and Ramna, the grenade attack on Sheikh Hasina, and innumerable political and social murders need to be dealt with in earnest. Maybe it is time we take up the trial
issue of the 195 Pakistani army officers who committed mass murder and other war crimes in 1971. Again, trials ought to be kept as unsoiled as possible and not motivated by political vengeance, even though most of the cases taken up and dealt with have political odours.
While meting out punishments to the guilty, we must be vigilant not to harm any who are innocent
We can shape our justice system into a reliable institution which the people will happily look up to each time the judge strikes the gavel and pronounces the verdict against the culprit. People would like to see trials of those cases that are still pending for years get underway. Let these be less political and more evenhanded. This government has the opportunity to start the practice of fair trials, and set an example for posterity. Does it have the will? l Mohammad Ali Sattar is a journalist and DT columnist.
12
n Afrose Jahan Chaity
Emon made his debut as an actor in the film Daruchini Dwip, an adaptation of the popular Humayun Ahmed novel. Since then, the talented actor has occupied a strong position in the film industry. Currently, Emon is working on two
DHAKA TRIBUNE
Entertainment
Which one is your favourite?
All the movies have unique stories to tell and Ill play diverse characters. I have tried to give my best effort and used my talent to try and reach out to the audience. Among them, I want to talk about the science fiction, Porobashini, my character in the film is very different from the usual roles you see in the movies, I really enjoyed the film.
A dozen of films are in pipeline now, such as, Mostafizur Rahman Babus
Director, story and character, these three are equally important for me before selecting a film. I am always keen towards characters that the mass people can relate to. That particular element in a role brings me closer to the audience and I really appreciate it.
I have only one dream, objective and aim, that is to be a successful actor and I hope I will be able to act till the day I take my last breath.
new films by Chashi Nazrul Islam: Bhul Jodi Hoy and Ontorongo. In an interview with the Dhaka Tribune Emon talked about his recent ventures:
I am working on Chashi Nazrul Islams Ontorongo. On the other hand, three of my films will release soon: Putro Ek-
Mayer Momota, Kokhono Bhule Jeo Na and Obujh Bhalobasha, Tonmoy Tansens Poddo Patar Jol, Ahmed Azim Titus Payra, Mithu Khans Nishhobdo Artonad, Swapan Ahmeds Porobashini, Chashi Nazrul Islams Ontorongo and Bhul Jodi Hoy, Mohammad Aslams Bhalobashar Nesha, Jane Na E Mon and another film by Mohammad Sohel.
Ten years from now, I want to see my film releasing worldwide. I would be happy if our film industry could release films worldwide. Emons most popular release so far has been Lal Tip. Gohine Shobdo is another hit movie featuring Emon and the actor terms it as a major turning point in his career. According to Emon, hardwork and determination never goes unrewarded and he believe that practice makes a man perfect. l
n Entertainment Desk
Harry Potter would have been a better match for Hermione Granger than Ron Weasley, author JK Rowling appears to suggest in a new magazine interview. Speaking to Wonderland magazine, the writer said she made Ron and Hermione a couple for very personal reasons, not for reasons of credibility. If Im absolutely honest, distance has given me perspective on that, she told guest editor Emma Watson. The actress played Hermione in the film versions of Rowlings fantasy novels. In the interview, published in full in the latest edition of the Wonderland quarterly, Rowling admits she made a mistake in having Hermione marry Ron at the end of her seven-novel cycle. I think there are fans out there who know that too and who wonder whether Ron would have really been able to make her happy, Watson responds in excerpts from the interview printed in the Sunday Times. l
SADIA MARIUM
TODAY IN DHAKA
Film
The Hobbit: The Desolation of Smaug, Thor: The Dark World, Pacific Rim in 3D, The Conjuring, The Hunger Games: Catching Fire, Escape Plan Time: 10am 10pm Star Cineplex, Level 8 Bashundhara City Panthapath
Exhibition
Life and Struggle of Padma By Sumon Yusuf Time: 3pm 9pm La Galerie, Alliance Francaise de Dhaka Ways of Seeing Time: 12pm 8pm Bengal Art Lounge, 60 Gulshan Avenue, Gulshan 1
In her interviews, Juhi has said that there was a lot of competition between actors at that time. She adds: I would say that earlier there were a few chances me and Madhuri could have worked together, but at that time I didnt do the film because Madhuri was there in the films. I thought if she is there, then what would I do? Comparisons were bound to happen, so to avoid all that tension, I didnt do those films. I am so glad that I am playing a
villain in the film. So you cant compare the two of us. I neither had to dance nor sing. All that has been done by Madhuri, said Juhi, who essays a politician in the film. Gulaab Gang emphasises on women empowerment and have women only in lead characters. The film stars Tannishtha Chatterjee, Divya Jagdale and Priyanka Bos in other important roles. The director Soumik Sen has himself given music to the film, releasing on March 7. l
Sport
at number three in the Bangladesh Cricket League (BCL) recently it is likely that he will do so again in the Test match. The other spot on offer will be contested for by Mahmudullah and Abdur Razzak. Mahmudullah is likely to get the nod as he has been in good form recently - he took 10 wickets in a BCL match against Central Zone and his useful batting down the order is also an asset. The focus for Bangladesh will be on improving batting. Having been bowled out for 232 and 250 in Dhaka, the likes of Tamim Iqbal, Shakib al Hasan, Mushfiqur Rahim as well as Mominul Haque, Nasir Hossain and Shamsur Rahman will be looking to prove their mettle in the longer form of the game. Another area the Tigers will be looking to improve on is catching, which was exceptionally poor in the first Test. Meanwhile, Sri Lanka will be without two of their standout performers. Shaminda Eranga and Rangana Herath will miss the game due to injury and are likely to return home today. However, not having won an away series 2008, Sri Lanka will be hungry to seal the rubber. Mahela Jayawardene, who scored a double hundred in the last match, and Kumar Sangakkara both boast stunning records against Bangladesh, and they will be supported by youngsters Kaushal Silva and Kithuruwan Vithanage, who both made centuries in Dhaka. l
DHAKA TRIBUNE
13
0 4 0
DAYS TO GO
Atletico go top
15 Mathews calm
but cautious
PROBABLE SQUADS
Bangladesh Tamim Iqbal, Shamsur Rahman, Imrul Kayes, Mominul Haque, Mushfiqur Rahim (capt & wk), Shakib al Hasan, Nasir Hossain, Sohag Gazi, Rubel Hossain, Al Amin, Abdur Razzak/Mahmudullah. Sri Lanka Kaushal Silva,Dimuth Karunaratne, Kumar Sangakkara, Mahela Jayawardene, Dinesh Chandimal (wk), Angelo Mathews (capt), Kithuruwan Vithanage, Dilruwan Perera, Nuwan Pradeep, Ajantha Mendis, Suranga Lakmal.
Bangladesh players at a training session at the Zahur Ahmed Chowdhury Stadium yesterday in Chittagong yesterday ahead of todays second Test against Sri Lanka MUMIT M
than the mental attitude. We have to focus on our basic work, and not fall into their traps. We know what theyll do against us, he said. In recent times, Bangladeshs batsmen have shown a new maturity in their approach but in the first Test, they were undone by short pitched bowling and poor shot selection. However, Mushfiq thought that the Chittagong wicket would be more batting friendly. Wickets that dont have sideways movement, bowlers will try to bowl at a shorter length. Our batsmen made some silly mistakes by having a little gutsier attitude. Maybe this wicket wont have that much bounce like Dhaka. It might be more difficult to duck.
They can play their pull shots, but make sure they play with control. This is our message to the batsmen. If we can avoid giving them a breakthrough, then later on we can create pressure on their spinners, said Mushfiq. The captain went on to reiterate the need for better fielding and noted that the spinners might play a big role. At the last Test played in Chittagong, Sohag Gazi was highly successfully, taking a hat-trick and eight wickets in the match. I know we are still capable of taking 20 wickets but first we have to take the catches. They have some great players and I hope we will take advantage of the opportunities we come across. Wickets are spin-friendly so Shakib
and Gazi will have some help. We have Razzak and Riyad in our squad, so we will have a decision on them. I hope they deliver in these conditions. I dont feel the ground makes much of a difference. But an X-factor does work. Gazi would now think that I took a hat-trick and six wickets here, so it might play in mind. We have to play, and its not that easy. They might plan something different, but we are ready. The batsman have to take control of the Test match, and I hope they get to do it. It is a lucky ground for me, I average 45+ here. So I want to perform at that level. It is important for me, among senior batsmen to lead from the front, said Mushfiq. l
The new logo of the Bangladesh Premier League, recently sponsored by Nitol-Tata, was unveiled at the BFF House yesterday COURTESY
Players of Usha Krira Chakra rejoice after scoring against Abahani Limited at the Maulana Bhashani National Hockey Stadium yesterday
14
Neymar blasts 'false friends'
Brazil starlet Neymar blasted false friends as he alluded Sunday to the strain of a tax probe into last years money-spinning move to Barcelona. Neymar senior last week denied signing a pre-contract with Barcelona until Neymar said the storm over his transfer had seen a lot of people come out and talk a load of rubbish calling our character into doubt. I also understood we have masses of false friends, said the Brazil star, urging his father to join him back in Spain as Ill be back playing in a few days and I need you here. AFP
DHAKA TRIBUNE
Sport
Real Madrid's Cristiano Ronaldo (L) laughs as he receives a red card during their Spanish La Liga match against Athletic Bilbao at San Mames stadium in Bilbao on Sunday
REUTERS
Real Madrid coach Carlo Ancelotti accused Athletic Bilbaos Carlos Gurpegi of exaggerated theatrics in the action that led to Cristiano Ronaldos sending off in a 1-1 draw on Sunday. The recently crowned Ballon dOr winner was given his marching orders 15 minutes from time, with the score already at 1-1, for appearing to hit out at Gurpegi after having a penalty appeal turned down. The away draw leaves Real three points behind La Liga leaders Atletico Madrid, who moved to the top of the table with a 4-0 win over Real Sociedad earlier on Sunday. Ronaldo is now likely to be banned for another crucial league encounter against Villarreal next weekend and Ancelotti wasnt convinced his star man deserved to see red. I think it is difficult for me to judge because I wasnt there, but the images show that it was an exaggerated reaction, said the Italian. Brazilian defender Marcelo was stronger in his criticism of the decision. It is hard when you lose a player in an unjust manner. It is obvious that the decision wasnt fair and that made it very difficult, although our intention is to win every game, he told Spanish TV station Canal Plus. Athletic are a very good team, but we had bad luck today. The game was dif-
W D 3 3 4 4 7 4 7 5 4 4 6 3 6 4 4 8 2 5
L GD PTS 1 2 2 5 6 6 7 8 11 42 43 39 14 17 8 4 -8 -6 57 54 54 43 37 36 31 28 28 26 25 25 24 24 24 22 22 20 17 14
22 18 3
3 Real Madrid 22 17
22 10 6
ficult for both teams, added Ancelotti. In the first-half Athletic pressed a lot and that made it difficult to play the ball on the ground so we played more on the counter-attack. In the second-half, the intensity of their pressure dropped a bit and we played better in possession, we scored and had good control of the game. Bilbao scored a fantastic goal, but in general I personally am satisfied with how Real Madrid played. l
RESULTS
Elche
Herrera 58
10 20 40 11
Real Betis
Atletico Madrid
Athletic Bilbao
Ibai Gomez 73
Real Madrid
Jese 64
It could have been so much better for Madrid as after a difficult opening 45 minutes, Jese Rodriguez looked to have them on the road to a 11th consecutive victory when he prodded home
Ronaldos cross 25 minutes from time. However, after Ibai Gomez had spectacularly equalised, Ronaldo was shown a soft red card for lashing out at Carlos Gurpegi. Ancelottis men could have been in front after just 20 seconds as Ronaldo took advantage of a poor clearance by Gorka Iraizoz, but his effort flew inches wide. Thereafter, it was Athletic who had the upper hand in the first-half and should have been in front when Aduriz shot wide when clean through on Diego Lopez. Reals lead lasted just nine minutes as Gomez made a stunning introduction as a substitute as with his second
touch he fired an effort from 20 yards in off the inside of the post. Earlier, Atletico moved top on an emotional evening at the Vicente Calderon, as former players and fans paid their tributes to former Spain and Atletico player and coach Luis Aragones, who died on Saturday, before the match. The Atletico fans remained silent for the first eight minutes before beginning to chant Aragones name in a tribute to the number he wore as a player with Los Rojiblancos. And Atletico boss Diego Simeone was pleased with how his side dealt with the emotion of the evening. l
Juventus' Giorgio Chiellini shoots to score against Inter Milan during their Italian Serie A match at Juventus Stadium in Turin on Sunday
REUTERS
n AFP, Miami
David Beckham is homing in on a deal to bring a Major League Soccer club to Miami, local media reported Sunday. The former England star midfielder had exercised his option to buy an MLS club and wants to bring it to Miami, with the plan contingent on a deal for a privately funded stadium, The Miami Herald reported. Beckham, his investment group and MLS commissioner Don Garber will be in Miami today and Wednesday seeking support for the venture. Garber said a possible MLS expansion team owned by Beckham could come in February. l
10 20 22
Lille Lyon
Rennes
Marseille
Payet 7, Valbuena 40
Toulouse
suspicion of offside. The defeat could have been worse for Lille but for Rio Mavuba clearing a Dario Cvitanich header off the line and Idrissa Gueye getting away with what appeared a blatant handball inside the Lille box. Marseille remained in fifth, on 36 points, after their stalemate at home. Twice Marseille went ahead,
through goals by Dimitri Payet and Mathieu Valbuena, and twice they were pegged back. Toulouse striker Wissam Ben Yadder levelled on 11 minutes with Serge Aurier ensuring they went home with a point on the hour. Lyon, who pitched up seeking a fourth straight league win, had a torrid time of it at Rennes. They went down a man when Samuel Umtiti was red carded for an illjudged tackle on Romain Alessandrini three minutes from the interval. Rennes were already leading at that stage thanks to Cedric Hountondjis 22nd minute header and new signing, Swedish forward Ola Toivonen, doubled up with less than half an hour left. l
DHAKA TRIBUNE
Sport
15
QUICK BYTES
Great Britain's Davis Cup team (L R) Colin Fleming,Dominic Inglot, James Ward,Andy Murray and captain Leon Smith celebrate their 3 1 victory against of the United States during day three of the Davis Cup World Group first round at PETCO Park on Sunday AFP Querrey had been stunned on Friday by Britains James Ward, who won 10 of the last 11 games in a remarkable five-set fight-back that helped the visitors take a 2-0 lead on the opening day on which Murray also crushed Davis Cup newcomer Donald Young. The final score stood at 3-1 after the fifth scheduled match was cancelled. At Mar del Plata, Fognini beat Carlos Berlocq 7-76 (7/5), 4-6, 6-1, 6-4 to give Italy a 3-1 advantage that stood up after the dead rubber was scrapped. Serbia, trailing Switzerland 3-0, had only honour at stake in Novi Sad. With the Swiss resting their top two players - Australian Open winner Stanislas Wawrinka and Roger Federer - last years beaten finalists duly clinched the closing two academic rubbers courtesy of Filip Krajinovic and Dusan Lajovic. The Swiss host Kazakhstan, who saw off Belgium 3-2 in Almaty, in the quarter-finals. Germany, who held an unassailable 3-0 lead over five-time former winners Spain in Frankfurt, soured their win by claiming that three of their players were unfit to play. That left the crowd and the Spanish short-changed, with the hosts unable to play the opening rubber of the day. Germanys last man standing, Daniel Brands, beat Roberto Bautista Agut in the fifth rubber to complete a 4-1 win. The quarter-finals of the 114-year-old competition are scheduled for April 4-6. l
DAYS WATCH
BTV & Maasranga TV 9:30AM Bangladesh v Sri Lanka 2nd Test, Day 1 Sony Six NBA 2013 14 6:30AM Miami v Detroit 9:00AM Sacramento v Chicago Star Sports 1 8:30PM Hockey India League
16
DHAKA TRIBUNE
Back Page
Tazreen fire: New Readers, fans keep Humayun alive compensation scheme proposed
Petitioners submit proposal, accusing owners for industrial disasters lies of 20 more Tazreen fire victims, who n Udisa Islam have later been identified through DNA
The High Court will take an alternative method of compensation for those who die and sustain injuries at industries based on a report submitted by petitioners who demand proper compensation for the victims. Lawyer Asaduzzaman submitted the report to the court yesterday proposing a compensation scheme which considers the fire at Tazreen Fashions Ltd on November 24, 2012 as the tortuous liability of the owner. test, Tk7 lakh each as compensation. But yesterday, the attorney generals office sought more time saying that they had formed a committee headed by the police superintendent, but it was yet to give a report on the compensation. The court gave them seven more days to pay the compensation. The court had earlier ordered that each of the 20 families be given Tk7 lakh as compensation, as per recommendations made by the government and the BGMEA the apex body of garments owners. On April 28 last year, three anthropologists Naznin Akter Banu, Saydia Gulrukh Kamal and Mahmudul Hasan Sumon filed the writ petition and submitted a list of 25 names of the fire victims who were not compensated as they could not be identified or went missing. Five of the victims are yet to be identified. The devastating fire at Tazreen Fashions, a garment factory at Ashulia on the outskirts of the capital, killed at least 111 people and injured many others. The death toll was so high since the authorities had barred the workers from coming out of the factory building after the fire broke out. One of the petitioners, Saydia Gulrukh said the current compensation scheme under the ILO C121 was the most reasonable provision. But it does not take into account the criminal liability of local owners or global buyers. These provisions are meant for industrial accident. She added that the existing provisions did not cover the injuries/death caused by negligence of the employer and/or for the inactions or supervisory lapses of the government authorities. After yesterdays proceedings, Naznin told the Dhaka Tribune: We think it is of the utmost importance to compensate the victims or the families of Tazreen factory fire considering it as a tortuous liability, not merely an accident or industrial accident. l
Victims aged below 40 years will have to be given compensation of the sum of all wages and facilities s/he would have got until the age of 60
The court on November 24 last year asked the petitioners to help it finding out the international standard of compensation for victims of industrial disaster. The lawyer told the Dhaka Tribune: We submitted an alternative scheme to the court where we demand that all compensation should be given by the government. Later, the government can realise the money from the liable companies. According to the proposal, victims aged below 40 years will have to be given compensation of the sum of all wages and facilities s/he would have got until the age of 60. For those aged between 40 and 50 years, the compensation would be one and a half times of his/her income until the age of 60; while for the victims aged 50-60 years, it would be double. The bench of Justice Quazi Reza-Ul Hoque and Justice ABM Altaf Hossain on November 24 last year also directed the authorities concerned to pay the fami-
Anyaprokash Publications decorates its stall with a cut-out of late writer Humayun Ahmed at the Ekushey Book Fair 2014. The photo was taken yesterday DHAKA TRIBUNE
n Ahmed Zayeef
After more than a year into the death of celebrated writer Humayun Ahmed, the love of his fans AMAR EKUSHEY and readers B O O K FA I R 2 0 1 4 has kept him alive at this years Ekushey Book Fair. The obsession for his works, even long after his death, was evident on the third day of this years fair, the second book fair without the presence of the legend. Please take my picture with Humayun Ahmed sir on my right side, Md Nurunnobi, a young visitor was found shouting in front of the stalls of Anyaprokash Publications. The publishing house which had brought in most of the books of Humayun had put up a picture of the writer in front of its stall. Although the fair saw a fewer number of visitors yesterday, the stall of Anyaprokash, Humayuns most favourite
publishing house, attracted many visitors. Adorned in yellow, the colour of Humayuns popular character Himu, the stall holds a large portrait of Humayun with picture of an open window in the background, depicting Humayuns departure from the world of the living. Designer of the stall, architect Shakur Mojid said: Humayun is no more among us. However, we still feel his presence. In some way, I think we still think he is here with us. The picture that we put up of him was previously unpublished; it was taken while he was on a tour in the Sundarbans. Anya Prokash publisher Mazharul Islam said apart from the decorations, the stall also had different compilations of Humayuns books. The fair is yet to assume its usual festive look as many publishers have not finished decorating their stalls. The kids corner drew lots of attention; however, the little magazine corner remained almost deserted. A total of 31 stalls out of 45 have opened in the little magazine corner.
Mirja Faiaj Ahmed, a class two student who came to the fair with his mother, bought a lot of colouful books, mostly on ghost stories and comics. His mother said she had brought her son not only to buy books, but also to infuse a love for reading. Although the presence of the visitors was not up to the expectation of the publishers, they hoped that the fair would gain momentum in a day or two. Some vendors were found setting up illegal makeshift shops outside the fair premises. Murshid Uddin Ahmed, deputy director of department of co-ordination and public relation of Bangla Academy, told Dhaka Tribune: Some illegal shops are making the entrance unattractive. Soon we will inform the matter to law enforcement agencies, and take actions against them. Sixty new books were published at the fair yesterday. A discussion on Maulana Mohammad Akram Khan, founder of first Bengali newspaper The Azad, was held presided over by Professor Abul Kashem Fozlul Haque. l
Aerial view of shrimp farms in Bagerhat. The photo was taken recently On the basis of the policy, it formulated the Bangladesh Environment Conservation Act 1995 and revised it in 2010. Sultan Ahmed said they had plans to amend the 2010 Act and make it time-befitting once the environment policy was finalised. The first draft of the policy was prepared by an 11-member technical committee. Later an experts committee revised it and put it on the website for public opinion. On the loopholes in the policy, Rizzone of forests diminishing day by day. The government also failed to incorporate any obligation to protect the countrys natural forests. It rather emphasise on afforestation initiatives to expand forest areas which is absurd, she said. Rizwana criticised the government for not incorporating the issue of receiving public opinion while preparing Environmental Impact Assessment (EIA) reports for initiating any development project. The matter is also absent in the current Environment Conservation Act.
tution. Moreover, it will be treated as a comprehensive policy for conservation and development, and will coordinate all the environment-related issues mentioned in other national policies. It also specifies how the plans would be implemented in association with different ministries and government agencies. Bangladesh is pledge-bound to ensure follow 30 environment-related conventions and agreements it had accepted, adopted or accessed over the years. l
Editor: Zafar Sobhan, Published and Printed by Kazi Anis Ahmed on behalf of 2A Media Limited at Dainik Shakaler Khabar Publications Limited, 153/7, Tejgaon Industrial Area, Dhaka-1208. Editorial, News & Commercial Office: FR Tower, 8/C Panthapath, Shukrabad, Dhaka 1207. Phone: 9132093 94, Advertising: 9132155, Circulation: 9132282, Fax: News-9132192, e-mail: news@dhakatribune.com, info@dhakatribune.com, Website: www.dhakatribune.com
Business
Government mulls restructuring corporate tax to provide business with some space to do better, he says Afghanistan and 28% in Sri Lanka. In n Tribune Report the Maldives, corporate tax is 25% for
The government is contemplating to change the corporate tax structure as well as bringing out of the box the high rate of interest on bank loans to provide the countrys real business units with some space to do better. Finance Minister AMA Muhith dropped the broader hints about restructuring the fiscal and financial system following a meeting with the newly elected board members of Dhaka Chamber of Commerce and Industry (DCCI) at his secretariat office. As our corporate tax structure is not appropriate, it should be changed after having consultation with the businessmen, he told reporters. The lowest corporate tax in Bangladesh is now 27.5% and the highest 45%. There are, however, tax rebates for listed companies that would declare dividends at rates more than 20%. The average rate of corporate tax is 42.5% in Bangladesh as compared to 30% in India, 35% cent in Pakistan, 25% in Nepal, 30% in Bhutan, 20% in
only commercial banks. The minister expressed concern over the high interest rates that ranges between 12% and 18%, but said: We are habituated to take credit from commercial banks with higher interest rates. We have to find out something out of the box to reduce the high bank interest rate that is better for the local businesses, he said as the DCCI delegation raised the concerns over the issues. They requested the minister to take measures to bring down the interest rate spread to 3% so the credit flow to the private sector gets a momentum. Regarding Public-Private Partnership initiative, Muhith said a separate guideline has already been formulated for infrastructure projects to be implemented under the initiative, but complete freedom is yet to be given to the new entrepreneurs under this guideline. The government would soon finalise an infrastructure expressway project from the capitals zero point up to Mawoa at a cost of $1.5bn. l
Solaiman, 16, operates a machine by his feet to mould aluminium pots at a factory in Kamrangir Char, Dhaka being ignorant of the related hazards. He has been engaged in the work despite repeated calls and regulatory safeguards against child labour Mahmud Hossain Opu
ance. Of the remittance received in January, $387.64m received through state-owned commercial banks, $16m through specialised banks, $832m through private commercial banks and $14.27m through foreign commercial banks, according to Bangladesh Bank data released yesterday. After many years of bullish inflow, the country experienced a slowdown in remittance receipt last year as overseas employment dropped compared to previous years, according to a report by the Refugee and Migratory Movements Research Unit (RMMRU) released recently. Only four lakh workers migrated to different countries in 2013 compared to over six lakh in 2012.
It said the country received $13.47bn until December 24 in 2013 as against $14.17bn in the year before. Since 1976, the remittance growth had been sustainable. To boost remittance inflow, Bangladesh Bank has created separate savings instruments for non-resident Bangladeshis (NRBs). The instruments include, among others, non-resident foreign currency deposits, US dollar premium bonds and wage-earners development bonds, according to Bangladesh Bank. Smart cards or mobile phone banking services were also introduced to facilitate sending home the remittance. Bangladeshs foreign currency reserves have exceeded $18bn last year though slow remittance inflow. l
units are still located at the shared and rental buildings. I dont know what would exactly happen after the inspection, but I can cast my doubts whether the sector will survive or not if they inspect all the factories as per their plan, he said, expressing concern. He urged the buyers not to make public any report of their inspection before ensuring the remedial measures and to refrain from withdrawing orders from those factories. Srinivas Reddy, Country Director of International Labour Organisation (ILO) opined that the concerns of the apparel makers on the standards and inspection process should be listen carefully as they are valid ones. There will be no compromise on safety and workers rights issues and the steps should be pragmatic, he added, urging quick disbursement of the compensation as proposed by the retailers for the victims of Rana Plaza incident. The spirit of the Accord and Alliance initiatives is very positive as these are the long term project aiming at developing the RMG sector with check and balance, not for creating any panic, said Roger Hubert, country director of H & M. These initiatives are going forwards, he said stressing on actions rather talking. The buyers are here in Dhaka to do business and they have assured us that they will raise the price hike issue to their respective headquarters, BGMEA vice-president Shahidullah Azim told the Dhaka Tribune quoting the buyers. l
Some mobile operators defy BTRC directive on post-call details n Muhammad Zahidul Islam
Some mobile phone operators in Bangladesh are not following a directive of telecom regulator to provide post-call details including duration, cost and balance to the users. In September last year, Bangladesh Telecommunication Regulatory Commission issued the directive making it mandatory for all six operators. The directive is intended to benefit particularly the prepaid users who constitute 95% of then total 11.38 crore. Operators like Grameenphone, Teletalk and Airtel are giving the post-call details however, say the subscribers. But users of other operators say they are not getting it.
'We are often being cheated by the operators, but have no remedy yet'
Its a right of a subscriber to learn about key info of call he has just made, like duration, cost and balance. But all operators are not giving it, a BTRC high official told the Dhaka Tribune requesting anonymity. When contacted, the senior executives of the mobile operators concerned refused to make any comment on the matter officially. As implementation of the directive would require investment to introduce the related technology, they said the companies do not have sufficient fund for it after paying billions of Taka for 2G licence renewal and 3G spectrum. There have been allegations from the users of some operators that balance is sometimes cut by a large amount though they do not use call time that much. We are often being cheated by the operators, but have no remedy yet, said Jamal Uddin, a student of private Stamford University in Dhaka. He said BTRC directive should also be for data service like SMS etc. According to him, the use of mobile data service has become more popular now than voice and the subscribers are being cheated every day in this service. Kamrul, a Fine Arts student in the city, said he could never enjoy the speed and tariff what his operator has offered. As of December 2013, the total active mobile subscribers of the country stood at 11.38 crore, said BTRC data, and more than 95% subscribe on prepaid basis. l
B2
DHAKA TRIBUNE
Stock
DSE GAINERS Company
Closing (% change) 8.31 7.61 6.19 5.93 5.91 5.85 5.74 5.44 5.35 5.26
Islami Ins.BD A Bangas -A BDCOM Online-A aamra technologies-A Rupali Bank - A AB Bank - A Pharma Aids A Libra Infusions-A Agni Systems -A ISN Ltd. -A CSE GAINERS Company Progressive Life-A EXIM Bank 1 MF A Midas Financing-Z Islami Ins.BD A Bangas -A Apex Foods -A Peoples Insur -A BGIC -A BDCOM Online-A AB Bank - A
Average (% change) 7.16 3.81 5.16 2.46 3.30 4.34 3.39 5.41 3.99 3.91 Average (% change) 25.00 7.04 8.55 8.28 4.22 7.55 6.14 5.98 6.94 4.05
Closing average 37.25 513.31 33.61 42.06 79.27 33.64 181.04 542.86 25.30 21.78
Closing 37.80 530.50 34.30 42.90 80.60 34.40 184.30 542.90 25.60 22.00
Daily high 38.10 530.50 34.80 43.20 81.20 34.70 185.50 553.50 26.00 22.50
Daily low 33.00 480.00 30.00 37.00 70.00 29.30 174.30 520.00 22.30 19.50
Turnover in million 38.196 25.552 101.302 179.524 8.780 108.307 18.955 2.280 50.860 4.296
Latest EPS 1.60 5.70 1.70 1.88 5.89 1.65 4.26 3.04 1.10 -0.36
Latest PE 23.3 90.1 19.8 22.4 13.5 20.4 42.5 178.6 23.0 -ve
Closing (% change) 25.00 9.86 8.71 8.31 7.62 7.55 6.32 5.61 5.59 5.52
Closing average 150.00 7.60 33.65 37.79 518.14 114.00 36.98 33.85 33.59 33.64
Closing 150.00 7.80 33.70 37.80 529.50 114.00 37.00 33.90 34.00 34.40
Daily high 150.00 7.80 34.10 38.30 529.50 114.00 37.30 34.80 34.30 34.60
Daily low 150.00 7.20 32.30 37.00 500.00 114.00 36.70 32.30 32.10 32.80
Turnover in million 0.075 0.011 0.067 1.074 0.661 0.011 1.860 2.120 2.252 13.422
Latest EPS 2.30 0.70 -5.96 1.60 5.70 3.56 2.20 2.33 1.70 1.65
Latest PE 65.2 10.9 -ve 23.6 90.9 32.0 16.8 14.5 19.8 20.4
'Market maintained strong momentum for the fourth consecutive trading session with DSEX consistently supporting above 4,800-level'
Backed by continued upbeat sentiment, key index DSEX surfaced over 4,800 points level for the first time yesterday, said IDLC Investment. Meghna Petroleum was the most traded stock with a turnover of Tk45.9 crore, followed by Mercantile Bank, LankaBangla Finance, Aamra Technologies and Padma Oil. l
SUN
02-Feb
MON 03-Feb
THU
30-Jan
MON 27-Jan
WED 29-Jan
Dividend/AGM
SALAMCRST: 13% cash, AGM: 29.03.2014, Record date: 11.02.2014. 1STPRIMFMF: 10% cash, Record date: 11.02.2014. HRTEX: 15% cash, AGM: 09.06.2014, Record date: 20.02.2014. MAKSONSPIN: 5% stock, AGM: 13.03.2014, RD: 16.02.2014. GSPFINANCE: 12% stock, AGM: 20.02.2014, RD: 03.02.2014. ECABLES: 10% cash, AGM: 01.03.2014 SAVAREFR: No dividend, AGM: 30.01.2014
(+) 0.81% (+) 0.23% (+) 0.67% (+) 0.87% (+) 1.18% (+) 0.92%
Issue Gain (Avg. Price Basis) Issue Loss (Avg. Price Basis) Unchanged Issue (Avg. Price Basis) Market Capital Equity (Billion. Tk.) Market Capital Equity (Billion US$)
Turnover in million 3.319 55.389 37.441 31.585 1.950 0.155 9.931 0.251 48.045 14.321 Latest EPS -1.00 2.50 2.42 4.86 0.28 -0.89 0.22 0.04 2.92 2.10
Average (% change) -2.90 -4.28 -2.26 0.42 -1.56 -3.86 -3.10 -2.72 -3.79 -2.91 Average (% change) -1.45 -5.34 -5.83 -2.38 -3.75 -2.44 -2.28 -4.47 -1.88 -1.93
Closing average 65.72 59.29 56.10 162.22 31.45 20.67 24.69 27.89 69.22 56.35
Closing 65.10 58.50 54.80 159.90 31.10 20.70 24.20 27.80 68.50 55.90
Daily high 67.50 61.30 57.70 167.40 33.20 21.50 25.50 28.90 75.50 58.40
Daily low 64.40 55.00 51.30 157.30 31.00 20.50 22.80 27.70 64.00 52.00
Latest PE -ve 23.7 23.2 33.4 112.3 -ve 112.2 697.3 23.7 26.8
BankIndex
DSE BroadIndex
Closing average 55.01 813.10 530.00 65.12 59.31 55.95 56.62 69.44 40.25 77.73
Closing 53.80 813.10 530.00 64.50 58.60 55.10 56.00 69.20 40.00 76.80
Daily high 58.00 813.10 530.00 66.50 61.20 57.00 58.50 71.00 41.70 79.30
Daily low 53.10 813.10 530.00 64.10 58.30 54.00 53.00 68.60 39.90 76.00
Turnover in million 0.084 0.041 0.424 0.163 8.581 1.007 2.202 9.321 5.374 12.479
Latest EPS 3.81 46.53 28.27 -1.00 2.50 2.42 2.10 2.92 2.16 2.75
Latest PE 14.4 17.5 18.7 -ve 23.7 23.1 27.0 23.8 18.6 28.3
03
10
17
24
31
07
14
21
-1%
DSE TURNOVER LEADERS Company Meghna Petroleum -A Mercantile Bank -A LankaBangla Fin. -A aamra technologies-A Padma Oil Co. -A S Purbanchol Power-N
UCBL - A
ANALYST
Investors are showing a trading appetite on the long side for stocks of financial and service sector
DSE Million Taka 1406.05 721.50 179.38 582.24 347.24 1149.61 4.15 719.76 665.49 1.95 50.96 106.66 52.22 264.64 344.65 562.40 419.82 153.42 184.83 123.41 1.63
% change 17.48 8.97 2.23 7.24 4.32 14.30 0.05 8.95 8.28 0.02 0.63 1.33 0.65 3.29 4.29 6.99 5.22 1.91 2.30 1.53 0.02
Million Taka 151.16 82.14 9.59 90.02 23.06 59.37 60.96 55.91 0.08 5.37 5.00 6.09 13.44 31.90 27.77 20.56 13.24 29.80 22.65 0.00
CSE
% change 21.35 11.60 1.35 12.71 3.26 8.38 0.00 8.61 7.90 0.01 0.76 0.71 0.86 1.90 4.50 3.92 2.90 1.87 4.21 3.20 0.00
Million Taka 1557.21 803.64 188.97 672.25 370.30 1208.98 4.15 780.72 721.41 2.03 56.33 111.66 58.31 278.08 376.55 590.17 440.38 166.66 214.63 146.06 1.63
Total
% change 17.80 9.18 2.16 7.68 4.23 13.82 0.05 8.92 8.24 0.02 0.64 1.28 0.67 3.18 4.30 6.74 5.03 1.90 2.45 1.67 0.02
Delta Life Insu. -A Active Fine Chem.-A Grameenphone-A AB Bank - A One Bank -A Appollo Ispat CL -N ConfidenceCement A BDCOM Online-A Orion Pharma-N People`s Leasing-A
CSE TURNOVER LEADERS Company Appollo Ispat CL -N
411,400 1,126,834 516,051 3,219,294 5,730,819 3,066,800 699,083 3,014,002 1,415,700 3,069,621
Volume shares 1,689,188 9,644,446 2,476,132 4,268,290 453,864 2,011,710 4,705,858 685,119 503,175 6,858,297
Value in million 460.29 192.92 192.37 179.52 152.86 148.74 147.08 124.58 119.21 112.77
110.09 110.07 109.28 108.31 106.66 105.07 104.81 101.30 92.29 90.32
% of total turnover 5.72 2.40 2.39 2.23 1.90 1.85 1.83 1.55 1.48 1.40
1.37 1.37 1.36 1.35 1.33 1.31 1.30 1.26 1.15 1.12
Daily closing 273.10 20.20 76.70 42.90 339.30 74.30 31.30 182.10 236.70 16.40
270.20 96.60 212.20 34.40 18.80 34.70 151.50 34.30 65.00 29.40
Price change 4.20 2.02 -2.54 5.93 4.69 -0.13 1.29 0.22 -0.21 -1.20
3.33 -2.03 0.38 5.85 3.30 0.29 3.20 6.19 -0.61 3.52
Daily opening 262.10 19.80 78.70 40.50 324.10 74.40 30.90 181.70 237.20 16.60
261.50 98.60 211.40 32.50 18.20 34.60 146.80 32.30 65.40 28.40
Daily high 280.00 21.50 79.40 43.20 344.00 75.50 32.00 183.00 239.00 18.00
271.00 99.90 213.20 34.70 19.00 34.90 152.90 34.80 65.90 29.80
262.70 89.00 205.00 29.30 16.50 34.00 145.00 30.00 59.00 25.70
Daily low 250.00 17.90 72.00 37.00 310.00 67.00 28.00 168.00 225.10 15.00
28
Daily average 272.49 20.00 77.69 42.06 336.80 73.94 31.25 181.83 236.92 16.44
267.60 97.68 211.76 33.64 18.61 34.26 149.93 33.61 65.19 29.42
Volume shares
Prepared exclusively for Dhaka Tribune by Business Information Automation Service Line (BIASL), on the basis of information collected from daily stock quotations and audited reports of the listed companies. High level of caution has been taken to collect and present the above information and data. The publisher will not take any responsibility if any body uses this information and data for his/her investment decision. For any query please email to biasl@bol-online.com or call 01552153562 or go to www.biasl.net
UNITED AIR A aamra technologies-A Eastern Cables-Z Meghna Petroleum -A Mercantile Bank -A UCBL - A AB Bank - A Shahjalal Islami -A National Bank - B LankaBangla Fin. -A BEXIMCO Ltd. -A Salvo Chemicals-B Delta Life Insu. -A Fareast Finance-N People`s Leasing-A Paramount Textile Ltd.-A Padma Oil Co. -A Southeast Bank-A BD Building Systems -A
870,600 1,424,707 507,725 200,900 69,175 840,572 490,677 399,036 658,968 896,018 160,550 339,321 441,249 41,550 642,500 374,289 207,490 31,324 438,621 134,225
Value in million
29.84 23.50 21.36 19.89 18.85 16.88 15.34 13.42 12.76 12.66 12.48 12.28 11.87 11.14 11.01 11.01 10.79 10.60 10.02 9.32
% of total turnover
4.21 3.32 3.02 2.81 2.66 2.38 2.17 1.90 1.80 1.79 1.76 1.73 1.68 1.57 1.56 1.56 1.52 1.50 1.42 1.32
Daily closing
34.70 16.50 42.80 99.00 273.50 20.20 31.30 34.40 19.70 14.10 76.80 35.90 27.10 270.40 17.30 29.30 51.80 339.50 23.00 69.20
Price change
0.00 -1.20 5.16 4.21 4.47 2.02 1.29 5.52 4.79 0.71 -2.66 -1.10 4.23 2.70 4.85 2.81 0.19 4.37 0.88 -2.95
Daily opening
34.70 16.70 40.70 95.00 261.80 19.80 30.90 32.60 18.80 14.00 78.90 36.30 26.00 263.30 16.50 28.50 51.70 325.30 22.80 71.30
34.90 16.80 43.10 99.00 278.40 20.30 31.40 34.60 19.70 14.30 79.30 36.60 27.30 271.30 17.40 30.00 52.80 343.70 23.10 71.00
Daily high
34.00 15.10 40.80 95.20 262.60 19.80 30.90 32.80 18.80 14.00 76.00 35.70 26.30 263.20 16.50 28.70 51.50 331.50 22.40 68.60
Daily low
Daily average
34.27 16.50 42.06 99.00 272.43 20.08 31.27 33.64 19.36 14.13 77.73 36.19 26.89 268.19 17.14 29.42 52.01 338.26 22.85 69.44
DHAKA TRIBUNE
Business
DSE ticker 1JANATAMF 1STICB 2NDICB 3RDICB 4THICB 5THICB 6THICB 7THICB 8THICB ABB1STMF DBH1STMF EBL1STMF EBLNRBMF EXIM1STMF FBFIF GRAMEEN1 GRAMEENS2 GREENDELMF ICB1STNRB ICB2NDNRB ICB3RDNRB ICBAMCL2ND ICBEPMF1S1 ICBISLAMIC ICBSONALI1 IFIC1STMF IFILISLMF1 NLI1STMF PF1STMF PHPMF1 POPULAR1MF PRIME1ICBA RELIANCE1 SEBL1STMF TRUSTB1MF Fund manager RACE ICB ICB ICB ICB ICB ICB ICB ICB RACE LR Global RACE RACE RACE RACE AIMS AIMS LR Global ICB AMCL ICB AMCL ICB AMCL ICB AMCL ICB AMCL ICB AMCL ICB AMCL RACE ICB AMCL VIPB ICB AMCL RACE RACE ICB AMCL AIMS VIPB RACE % increaseof H2 profits in 2013 against 2012 58% 38% 13% 9% 18% 0% 7% 5% 24% -7% 129% -38% -8% -27% 65% 65% -23% 41% 18% 91% 175% 111% 86% -26% 633% -4% 157% 5% 28% 182% 167% 22% -6%
B3
Euro rises in Asia after inflation data tumble
n AFP, Tokyo
The euro bounced back against the yen yesterday after suffering a sell-off last week in response to weak eurozone data that fuelled speculation of an interest rate cut by the European Central Bank (ECB). In afternoon Tokyo trade, the euro rose to 137.96 yen from 137.61 yen in New York Friday, its lowest level since early December, while it held steady at $1.3484 against $1.3487. The dollar strengthened to 102.31 yen from 102.03 yen. Official data Friday showed eurozone inflation eased to 0.7% in January, from 0.8% in December, as the bloc struggles to recover from its debts crisis. The banks target is for 2% inflation. The figures come as the ECBs policy-setting governing council prepares to hold its monthly policy meeting on Thursday, with some analysts tipping a rate cut to head off deflation. This result has some now anticipating further easing action from the ECB this Thursday, National Australia Bank said. We rather think they would wait until March when new staff economic projections are available, but (ECB chief Mario) Draghis press conference is going to be interesting ... either way. The dollar won support after the US Commerce Department last week said the worlds number-one economy expanded 3.2% in October-December, well above the 3% projected by analysts. There was also some cheer from figures showing a 3.3% rise in consumer spending, which is a crucial driver of growth in the United States. That came a day after the Federal Reserve reduced its stimulus programme by another $10bn a month to $65bn, following a similar cut in December. While the US central bank cited a firming economy for the wind-down, the announcement rattled emerging markets such as India, South Africa and Russia on fears of a capital flight, which in turn sent their currencies diving. Sentiment took a knock after China released data at the weekend pointing to a slowdown in manufacturing activity in the worlds number two economy and key driver of global growth. That came days after HSBC said its own survey of activity in China had shown a contraction. The dollar was mixed against other Asia-Pacific currencies. It strengthened to Sg$1.2778 from Sg$1.2763 on Friday, to 1,083.32 South Korean won from 1,080.69 won, to 45.39 Philippine pesos from 45.32 pesos and to 12,249 Indonesian rupiah from 12,213 rupiah. The greenback also rose to 62.58 Indian rupees from 62.41 rupees while it weakened to Tw$30.34 from Tw$30.35 and to 32.91 Thai baht from 33.02 baht. The Australian dollar lost ground at 87.50 US cents from 87.66 cents, while the Chinese yuan bought 16.88 yen against 16.90 yen. l
2 1 2.5 1 0 0 2
Chairman of Pakistans Privatisation Commission Mohammad Zubair speaks during an interview with Reuters at his office in Islamabad Are you mad? Three privatisation ministers have gone to jail and most have corruption cases hanging over their heads, he said. Dont take this job. and economic goal. We lose 500bn rupees annually because of failing enterprises, Zubair told Reuters. Every day a file lands on ing promise to privatise loss-making state companies. Privatisation officials, requesting anonymity, said several foreign in-
Mamun-Ur-Rashid, deputy managing director of Standard Bank Ltd has been elected general secretary of the Global Economist Forum (GEF), Bangladesh chapter. He was elected at the biannual general meeting of the forum held recently. GEF is accredited by the United Nations ECOSCO as a special consultative status organisation
Jim McCabe, CEO of Standard Chartered Bank Standard Chartered Bank, recently handed over rare photographs of ancient Bangladeshi coins to Bangladesh Bank Governor Dr Atiur Rahman for BBs Currency Museum
Basic Bank Limited on Sunday distributed blankets for the cold stricken people at Lalbagh area in the capital
Commodity prices are currently under pressure due to weaker-than-expected data on Chinese manufacturing activity
Square Toiletries Limiteds annual distributors and sales conference for the year 2014 took place during the first two days of February at Hotel Sea-Palace in Coxs Bazaar. The event was inaugurated by the companys managing director, Anjan Chowdhury
Meghna Bank Limited chair, HN Ashequr Rahman yesterday greeted Kaiser Chowdhury with flowers on winning Bangla Academy Sahitya Award 2013 for his extraordinary writing in Child Literature category. Abdul Alim Khan Selim, the banks vice chair were also present in the inauguration ceremony
Commodity prices are currently under pressure due to weaker-than-expected data on Chinese manufacturing activity, Desmond Chua, market analyst at CMC Markets in Singapore, told AFP. China on Saturday said manufactur-
B4
DHAKA TRIBUNE
Business
the unit-holders?
If market needs more funds, then why isnt VIPB launching another?
Well, coming up with new funds is not easy as currently most closed-ended funds are trading at 30-40% discounts to net asset value (NAV). So clearly there is a lack of demand for such funds. Investors would invest in existing funds that are trading at deep discounts instead of investing in new funds that would be offered at prices close to the NAVs. Also, the existing funds have shorter time to maturity compared to new funds. Shorter time to maturity generally means less uncertainty for the investors. As a result we have witnessed under-subscriptions of the IPOs (initial public offerings) of closed-ended funds, which arent common for the IPOs of companies. Under such circumstances, launching new closed-ended funds will not be wise. However, some asset management companies have come up with open-ended mutual funds. But it has not been a huge success either. We are also in the process of launching an open-ended fund. With our exceptional track record in the last couple of years we hope to make it a success.
First of all, let me clarify that VIPB Asset Management Company has been able to generate exceptional returns for its investors since launching its first fund. We have generated double digit returns even in the years when the stock market return was negative. In 2013, our funds generate 13% return compared to about 5% return of the capital market. However, in the long-run, mutual funds performance will be closely related to the performance of the economy in general and the capital market in particular. If the listed companies do not perform well, the funds will not be able to create value for the investors because the funds invest mostly in the listed companies. I think proper corporate governance and financial disclosures of the listed companies are critical for the overall development of the capital market. The accountability of the auditors and accountants is paramount for an effective capital market. Also the professionalism and credibility of the fund managers are extremely important. Some funds have recently reported abnormal and absurd net asset values, which was also published at Dhaka Tribune but you would see that no explanations were made.
Summing up - what are the major challenges before mutual funds to excel?
Shahidul Islam, CEO of VIPB Asset Management Company speaks to Dhaka Tribune at deep discounts fail to attract them. Also lack of disclosures by the mutual fund managers discourage investors from investing in mutual funds. In most countries mutual fund portfolios are made public but all the asset management companies in Bangladesh do not do so. documents. Secondly, funds should make the information of their portfolio holdings public. Lastly, BSEC (Bangladesh Securities and Exchange Commission) should be sending teams of inspectors to have a look into the funds' portfolio, operation and investment decision process. Mutual funds books should be inspected by BSEC inspectors in the same way bank books are inspected by Bangladesh Bank inspectors. Banks take deposits from the public and invest it in loan products whereas the asset management companies raise money from the public for investing mainly in the capital market. As investing in capital market is riskier than investing in loans, monitoring of the mutual fund industry is at least as important as monitoring banks.
DHAKA TRIBUNE
So, why do you think the funds are traded at a discount whereas we have some institutional and foreign investors who, at least, should understand that they are huge bargains?
Other than the institutions you mentioned market players in general do not understand mutual funds. And those who understand mutual funds have a general lack of trust for managers in the country. Also most of our active investors are inclined towards short term, speculative trades. Mutual funds
Firstly, immediate redemptions of the funds that have already missed their original deadlines will help gain investors trust. I personally think all close-ended mutual funds should be redeemed on the date of its maturity mentioned on the prospectus and trust
The BSEC lacks human resources to oversee the funds. Perhaps, they dont understand the importance of inspecting or monitoring the funds.
In respect of mutual fund management, Bangladesh stands nowhere close to the rest of the world. Its not all about the relative smallness of the industry in Bangladesh. Its about the
regulatory environment, professionalism of the asset management companies and awareness of the investors. Only a few years ago we saw an insane phenomenon in Bangladesh - mutual funds trading at 200-300% premium to their NAVs. Now things have somewhat reversed. Many closed-ended funds are trading now at 30-40% discounts to NAVs. To explain this I had previously told to the Dhaka Tribune that either the investors do not understand the funds or they dont trust fund managers. Now I think that investors lack of trust in the fund manager perhaps is the main reason behind the current predicament of the industry.
Lack of the capacity of BSEC as I mentioned before is a big challenge. Also the lacks of transparency, good corporate governance in the listed companies, accountability of the accounting and audit profession and professionalism and integrity of fund managers are major challenges.
A simple question for the last do you think mutual funds create value for its investors?
Mutual funds definitely create value for investors and, therefore, they manage trillions of dollars globally. Unfortunately, due to the challenges I mentioned, you can always argue that the mutual fund industry in Bangladesh is not creating value for investors. But the solution is to address the issues, not to shut down the industry. l
NEWS IN BRIEF Tata Motors shows off 1st new cars in four years
Indias largest carmaker Tata Motors unveiled its first new models in four years on Monday, banking on two small cars to reverse the companys sliding passenger car sales in the face of growing foreign competition. Sales of Tata passenger vehicles in India fell an annual 37% in the first nine months of the fiscal year that ends in March, according to data from Society of Indian Automobile Manufacturers (SIAM), the steepest drop in an ailing industry headed for a second straight year of declining sales. Rising interest rates and high fuel costs in Asias third-largest economy, growing at its slowest pace in a decade, have pushed consumers to delay the purchase of big ticket items. Reuters
A villager cleans his Renault Duster car as buffaloes look on nearby, outside his house in Kishangarh village on the outskirts of the northern Indian city of Chandigarh REUTERS price-sensitive rural buyers. To expand its potential market, Honda last year launched the entry-level Amaze sedan, which starts at about 520,000 rupees and has helped it nearly double its market share to 4.7%. Smaller towns and cities account for nearly two-thirds of Amaze sales, the company said. Smaller towns and rural areas are a gold mine that foreign automakers are yet to tap efficiently, IHS Automotive analyst Anil Sharma said. One of the prerequisites for any automaker to be successful in rural areas would be availability of after-market services. Since the population is more dispersed in rural areas, what we probably need is services like mobile workshops. Selling foreign cars to rural India remains tough. Deepanshu Rai, who lives in Raigad, a small town about 100 kilometres from Mumbai, said he never considered buying a foreign model when he bought his first car about 10 months ago, an Alto 800 hatchback made by Maruti. If you buy a foreign brand, it wont have a service centre everywhere. You may have to travel far even for a small issue, said the 22-year-old Rai, who works for a mapping company. 1980s, the word Maruti was used generically to mean any car. On narrow rural roads, its cheap small cars jostle for space with Mahindras sturdy utility vehicles, tractors, motorbikes and bullock carts, with foreign models scarce. Spare parts, including fakes, are cheap and ubiquitous, and mechanics everywhere can fix a Maruti, keeping maintenance costs down. Marutis deep rural penetration has helped it defend its market share amid the industrys two-year downturn. Thats despite the onslaught of new models launched by foreign rivals. Next in line will be Nissan Motor Cos relaunched low-end Datsun brand. At the Delhi auto show Datsun will showcase a hatchback to compete with Marutis Alto 800, which starts at
Mighty Maruti
For Maruti, the opposite is true. Founded in Gurgaon, outside New Delhi in 1982, Maruti accounts for nearly one in two new cars sold in India. Though it has drawn on the smallcar knowhow of Japans Suzuki Motor Corp, its majority shareholder, Maruti is seen as so home-grown that in the