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Bangladesh's 'Missing Billionaires': A wealth boom and Extreme Inequality
Rtv news
13 Jun 2024, 13:57
Photo: Collected
A luxury residential building called 'Three' is being constructed in the Gulshan area of the capital. This newly constructed residential complex is the most expensive building in the capital, highlighting the country's economic inequality.
The construction of this 14-storey building is nearing completion, not far from the elite Gulshan Club in Bangladesh's capital, Dhaka, and on the lap of the tranquil Gulshan Lake.
The construction workers of the building detailed the latest status of its construction work.
Known as 'Three', the building is being constructed by the elite Bangladeshi real estate developer company BTI and is undoubtedly the most expensive residential building to be built in South Asia.
In addition to having the largest zip code, the building has 12 apartments - each over 7,000 square feet (650 square-meters). The building has all modern amenities including biometric security, elevators, AI-based lighting system.
All of the apartments were sold before construction began, even with a price tag of $200 million or $2.5 million by 2021, with apartment prices dropping to $1.8 million.
BTI chairman Faizur Rahman Khan also bought a flat in the building. Other potential owners are being carefully selected from more than 50 applications, mainly city businessmen.
Bangladesh's growing disposable income is not unknown. Crowded shopping malls such as Jamuna Future Park are one of the largest in South Asia. New billboards advertising everything from packaged food to cars and smartphones are proof of that.
But this BTI building is a bit different which speaks to the growing wealth of Bangladesh's rich community.
A Boston Consulting Group (BCG) study indicates that while the country's middle-class and affluent consumer (MAC) class is expanding rapidly – it to be reach 17 percent of the population by 2025, and the country's wealth inequality is simultaneously deepening.
Source: Al Jazeera
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Dr. Yunus: Elections Now If No Reforms Needed!
Professor Dr. Muhammad Yunus, the Chief Advisor of the interim government, has stated that the nature and scope of reforms will be determined by the political parties, and decisions regarding the speed of elections will be based on their consensus.
In a special interview with The Daily Star's editor, Mahfuz Anam, Dr. Yunus mentioned that reforms and elections are entirely a matter of consensus among political parties. He emphasized that if the public's direct opinion is to be sought, a referendum would be required.
Regarding elections, he said, "The faster the reforms, the faster the elections. And if the political parties say they do not want reforms, I will hold elections immediately."
He outlined his vision for reforms based on reports from the Election Commission, the police, the judiciary, the Anti-Corruption Commission, public administration, and the Constitutional Reform Commission. Dr. Yunus mentioned that the interim government would pave the way for elections through consensus among political parties as swiftly as possible.
He emphasized, "We are not imposing anything." He further stated that his administration is only working to facilitate the process.
On the election roadmap, Dr. Yunus explained, "We are moving along two parallel tracks. Equal focus and effort are being given to both: one is the election, and the other is reforms."
He added, "The Election Commission will be announced within a day or two. The commission will operate independently. It’s not under my control. Everything necessary will be done there." However, he clarified that the Election Commission cannot begin its work until the Reform Commission submits its report. "Once the report is submitted, it cannot be used without political consensus," he noted.
Dr. Yunus mentioned that the Reform Commission's report would be available by the end of December. However, implementing it will require political consensus. "Meetings will be held with political parties, and efforts for understanding will continue—what they want, what they don’t. We will impose nothing."
He added, "Editorials will be written in the media, opinions will emerge, and we will seek the views of civil society." According to him, the timeline for reforms depends on how quickly political parties can reach a consensus, as elections are not possible without such agreement.
He said, "If the political parties tell us they don’t need reforms and want elections as is, we will conduct them as is. It will be ready. How long it takes for reforms to prepare depends on everyone’s consideration. Maybe no one is ready for elections. But if everyone agrees to hold elections before reforms, we will do so. Who are we to prevent that?"
When asked about the timeline for reforms, he stated that the commissions’ reports could be available by the end of December, and the government would have sufficient time until next July to reach a consensus on reforms.
He emphasized that it depends entirely on the political parties. "There’s no use asking me how long it will take."
On how the government would gauge public opinion, he replied that the government would discuss with political parties as representatives of the people. "I don’t think we can directly approach the public. That would require a referendum."
When asked whether the Awami League would participate in discussions on reforms, the Nobel laureate said, "It depends entirely on the political parties. If they want the Awami League to participate in this process, that’s what will happen. We are not giving any special opinions."
On the issue of cases filed against journalists without specific evidence, the Chief Advisor said, "It was done under old laws, hastily. We later stopped it."
Regarding foreign policy, Dr. Yunus stated that although he is closer to Democrats, his government can work with the Trump administration. He explained that when he was awarded the U.S. Congressional Gold Medal, there was bipartisan agreement. "So, if anyone disliked me, they would have said so then," he added.
Discussing how Indian media portrayed Bangladesh’s changing situation, Dr. Yunus said he raised the issue during a conversation with Indian Prime Minister Narendra Modi.
"I told him that the allegations of minority persecution are entirely false and propaganda. To see for themselves, Indian journalists should be sent here. It’s an open place; journalists can go wherever they want. No one will stop them. Indian journalists started coming, but the narrative didn’t change."
Dr. Yunus said he wanted to revive SAARC because he believed it could enhance cooperation in South Asia and the subcontinent.
"Everyone agrees on SAARC. Only India is not keen, which is why progress hasn’t been made. I continue to encourage India," he added.
However, the Chief Advisor stressed that the relationship between Bangladesh and India is very friendly. He stated that while differences may exist, they will not define the relationship between the two nations.
He remarked, "These two neighboring countries have such a long history and such a position that one cannot truly thrive without friendship with the other."
On relations with China, Dr. Yunus referred to his recent experience at the UN General Assembly. While a Chinese delegation wanted to meet him formally, protocol did not allow it.
Nevertheless, he had an extensive discussion with the Chinese Foreign Minister. "We didn’t meet formally. We sat in one place," he said.
The Chief Advisor added that the Chinese delegation, led by their Foreign Minister, presented a long statement, and he also shared his own views. Both sides discussed ways to collaborate further.
Jamaat-e-Islami to Apologize if Proven Wrong in 1971 Liberation War
Jamaat-e-Islami’s Amir, Dr. Shafiqur Rahman, stated that if it is proven beyond doubt that the party made any mistakes during the 1971 Liberation War, they will apologize to the nation.
He made this statement on Tuesday (November 19) in response to a question from the press regarding Jamaat’s role during the war, while speaking at a restaurant in East London.
Dr. Shafiqur Rahman said, "If we made any mistakes and it is proven beyond doubt, I will apologize to the nation. In the UK court ruling on Chowdhury Mainuddin’s case, the judges here referred to the judgment passed in our country’s War Crimes Tribunal as 'genocide of justice.' For 15 years, we were not allowed to sit in our office, speak, or organize rallies. We were unable to reach the nation through the media."
He further stated that due to ethnic disunity and corruption, the nation has not been able to progress as it should. He described corruption as a national shame. He pointed out that the UK, by keeping itself largely free from corruption, has been able to maintain a respected position globally, which Bangladesh has not achieved. He emphasized that a society will not improve unless those in power are honest.
Dr. Shafiqur Rahman also criticized the previous government's unchecked corruption, stating that the development that could have been achieved was not. He claimed that while development projects in Bangladesh show inflated costs, similar projects in other countries in the region were completed at a third of the cost.
He continued, "In the 24th movement, those who were killed should be recognized as national heroes. People from all walks of life participated in this uprising, including those living abroad who fought with us to the best of their abilities."
Jamaat’s Amir also praised the contributions of expatriates, stating, "The diaspora continues to support Bangladesh through remittances. In addition to monetary remittances, I urge expatriates to send 'intellectual remittances' to help the intellectual development of Bangladesh. This will play a huge role in building the Bangladesh of our dreams."
The event was attended by Barrister Abubakar Molla, the spokesperson for Jamaat-e-Islami Europe, and over fifty journalists from various Bangladeshi media outlets in the UK.
Honoring Heroism: Armed Forces Day 2024 Celebrates Sacrifice and Service
On the occasion of the Armed Forces Day 2024, the President and the Supreme Commander of the Armed Forces, Md. Shahabuddin, and the Chief Adviser, Professor Dr. Muhammad Yunus, have issued separate messages. This information was shared in a press release by the Inter-Services Public Relations (ISPR).
The ISPR states that, in honor of the members of the Armed Forces who sacrificed their lives in the great Liberation War of 1971, the President and the Chief Adviser will lay wreaths at the Shikha Anirban (Eternal Flame) in Dhaka Cantonment on Thursday morning (November 21).
Afterward, the Chief of Army Staff, General Waker-uz-Zaman, the Chief of Naval Staff, Admiral Mohammad Nazmul Hasan, and the Chief of Air Staff, Air Chief Marshal Hasan Mahmood Khan, will each lay wreaths at the Shikha Anirban on behalf of their respective forces.
Additionally, the Chiefs of the three Armed Forces will meet the Chief Adviser at the Armed Forces Division and the President at the Bangabhaban in courtesy calls.
On Armed Forces Day 2024, the Chief Adviser will honor the awarded freedom fighters and their heirs at the Army Multipurpose Complex in Dhaka Cantonment. During this time, the Chief Adviser will distribute tokens of appreciation and exchange greetings with the awarded freedom fighters.
The ceremony will be attended by the Advisor to the Ministry of Liberation War Affairs, the Chief Adviser’s Special Assistant (Defense and National Integration Development), the Chiefs of the Army, Navy, and Air Force, the Principal Secretary to the Chief Adviser, the Principal Staff Officer (PSO) of the Armed Forces Division, the Secretary of the Ministry of Defense, the Secretary of the Ministry of Liberation War Affairs, and other senior civilian and military officials.
The ISPR further reported that, to mark the day, the Chief Adviser will host a reception at the Sena Kunjo in Dhaka Cantonment at 4:00 PM on November 21. Notable guests at the reception will include the Chief Justice, former Presidents, former Chief Advisers, Advisers, and high-ranking individuals, foreign ambassadors, heads of international organizations, judges, the Secretary of the Cabinet Division, the Chief Secretary, former Chiefs of the Armed Forces, retired military officers, recipients of the Independence Award and the Ekushey Padak, journalists, academics, political and prominent figures, the coordinator of the anti-discrimination student movement, heirs of all Bir Shrestho (heroes) of the Liberation War, awarded officers and their heirs residing in Dhaka after the war, senior civilian officials, and serving and retired officers of the Armed Forces. The event will be broadcast live by Bangladesh Television.
In addition to Dhaka, similar reception programs will be organized at military garrisons or bases in Barisal, Cox’s Bazar, Bogura, Sylhet, Ghatail, Chittagong, Jessore, Rangpur, and Khulna under the management of the relevant Area Headquarters.
Meanwhile, to observe the day with due respect, various programs will also be held at military garrisons, naval ships and installations, and air force bases across the country. Specially decorated naval ships in Dhaka, Khulna, Chandpur, Barisal, and Chittagong will be anchored at nearby docks for public viewing from 2:00 PM until sunset on November 21.
To highlight the significance of Armed Forces Day, Bangladesh Television aired a special program titled "Bishesh Anirban" after the 8:00 PM Bengali news on Wednesday (November 20). Bangladesh Betar will broadcast the “Bishesh Durbar” program at 7:30 PM on Thursday (November 21). Additionally, the "Bishesh Anirban" program will be broadcast later on private TV channels.
On the occasion of the day, special supplements have been published in various national newspapers in both Bengali and English on November 21. Furthermore, writing and drawing competitions have been organized in educational institutions run by the Armed Forces.
Army Chase Auto-Rickshaw Drivers in Mohakhali
Battery-run rickshaw pullers have blocked roads and railways in Dhaka's Mohakhali. They are blocking the road demanding that rickshaws be allowed to ply on the roads.
In addition to blocking traffic in Mohakhali, they stopped the train by sitting on the railway line. In this situation, army members chased them away.
The incident occurred in the Mohakhali rail crossing area on Thursday (November 21) afternoon.
It was seen that the movement of autorickshaw drivers staying in the Mohakhali rail crossing area caused severe traffic congestion and caused suffering to the people. When the police requested them to move away, they pelted bricks and stones at the police. In this situation, when the army members chased them away from there, they dispersed and fled.
Meanwhile, autorickshaw drivers have blocked roads in the Agargaon, Basila, Gabtoli, Demra, Mirpur, and Mohakhali areas since this morning. This has stopped traffic in those areas, creating a massive traffic jam. Office-goers have been suffering since morning.
Dhaka district Railway Police Superintendent Anwar Hossain said that battery-run rickshaw drivers have blocked the railway line by placing their rickshaws across it. They have also blocked the road. This has stopped traffic on the surrounding roads.
Meanwhile, hundreds of battery-run rickshaw drivers have blocked the road at the intersection of four roads in Agargaon. They are holding a procession demanding to ply rickshaws. Officer-in-Charge (OC) of Sher-e-Bangla Police Station Md Azam said that this has stopped traffic on the surrounding roads.
Earlier, on Wednesday (November 20), rickshaw drivers protested by taking positions on various roads in the capital.
On Tuesday (November 19), the High Court bench of Justice Fatema Nazib and Justice Sikder Mahmudur Razi ordered the ban on battery-run rickshaws in the Dhaka metropolitan area within three days. The Home Secretary, Local Government Secretary, IGP, Dhaka Metropolitan Police Commissioner, Dhaka's two city corporation authorities, and other concerned parties have been asked to implement the court order.
Earlier, Brihottor Dhaka City Corporation Pedal-rickshaw Malik Oikya Jote President Jahurul Islam Masum and Secretary Md Momin Ali filed the petition with the High Court.
Approximately 12 lakh rickshaws currently operate across the capital, with a significant portion of them being battery-powered. Additionally, many old pedal rickshaws are being converted into motorized three-wheelers by installing batteries.
3 Killed in Clash, Claim Mollah College Authorities
Dr Mahbubur Rahman Mollah College authorities have claimed that three of their students were killed in a clash with students from Kabi Nazrul Government College and Government Shaheed Suhrawardy College.
It has also been claimed that more than a hundred students and several teachers were injured in the attack.
A press release, signed by the college's Managing Director Ashraf Samir, was sent to the media around 2:30 pm on Monday (November 25), stating that three students had been killed.
However, no statement has been issued by the police regarding the incident.
The college authorities have repeatedly appealed to the local and highest levels of administration for cooperation, but no effective action has been taken so far. In this situation, the safety and learning environment of students has been disrupted.
In a press release, Mollah College authorities expressed deep sorrow and anger, stating that a brutal attack occurred at their institution today. A group of outsiders, operating under the banner of the so-called Seven College Students, entered the campus and caused widespread destruction.
During the attack, three students were brutally killed, and over a hundred students and teachers were injured. Many of the injured are in critical condition, with some receiving intensive care.
The release further mentioned that some students from Shaheed Suhrawardy College and National Medical College, supported by the banned organization Chhatra League, were involved in a conspiracy to destabilize the institution.
The majority of the attackers were not students, but individuals engaged in terrorist activities.
The attackers looted important documents, assets, and personal belongings of the students. They also caused significant damage to the college building, smashing various rooms, including the principal's office.
The press release also outlined three demands from the college authorities to the concerned administration, law enforcement, and the Ministry of Education.
We, on behalf of Dr Mahbubur Rahman Mollah College, call on the concerned administration, law enforcement agencies and the Ministry of Education to:
1. Quickly identify and arrest the real culprits of the attack and give exemplary punishment.
2. Immediately strengthen security measures in the college to ensure the safety of students.
3. Take effective steps to recover looted assets and restore damaged documents.
No Deaths in Demra Clash, DMP Clarifies
Dhaka Metropolitan Police (DMP) has said that no one was killed in the chase and clash between students of Government Shaheed Suhrawardy College, Kabi Nazrul College, and Dr Mahbubur Rahman Mollah College.
In a statement issued by DMP Deputy Police Commissioner Muhammad Talebur Rahman, he stated that many had been spreading misinformation on social media saying two students had died, but this was not true.
The DMP has requested everyone to refrain from spreading false information that people were killed.
Earlier, DMRC Managing Director Ashraf Samir in a press release claimed that three of their students had died in the clashes.
In addition, Dr Mahbubur Rahman Mollah, founder of Dr Mahbubur Rahman Mollah College, told the media that no one was killed in the chase and clash between students. A group wanted to spread the news of the killings to destabilize the country's atmosphere.
Meanwhile, in Matuail, Jatrabari, at least 35 were injured in clashes between students of Mahbubur Rahman Mollah College, Kabi Nazrul College, and Suhrawardy College. They were brought to the emergency department of Dhaka Medical College Hospital in their injured condition on Monday afternoon.
New Price of Gold Effective From Today
The Bangladesh Jewellers Association (BAJUS) has reduced the price of gold in the country's market.
The organization has reduced the price of 22-carat gold by Tk1,890 per bhori and set the price of 22-carat gold per bhori at Tk1,40,376.
The new price will be effective from today (November 26), BAJUS said. The organization confirmed this information on Monday night (November 25).
The notification said that according to the new price, the price of 22-carat gold per bhori (11.664 grams) will be Tk1,40,376. In addition, the price of 21-carat gold per bhori has been set at Tk1,33,996, 18-carat gold per bhori at Tk1,14,855, and the price of traditional gold per bhori at Tk94,327.
In the notification, BAJUS further stated that the government-determined 5 percent VAT and BAJUS-determined minimum wage of 6 percent must be added to the selling price of gold. However, wages may vary depending on the design and quality of the jewellery.
Earlier, BAJUS last adjusted the price of gold in the domestic market on November 23. At that time, the organization had increased the price of 22-carat gold per bhori by Tk2,823 and set the price of 22-carat gold per bhori at Tk1,42,266. Apart from this, the price of 21-carat per bhori was set at Tk1,35,804, 18-carat per bhori at Tk1,16,395, and Tk95,645 per bhori of traditional gold, which came into effect from November 24. The price of gold also increased in the country on November 22 and 19 of this month. The price was reduced on November 14, 12, 7 and 4.
Gold prices also increased in the country on November 22 and 19 of this month. Apart from this, the price was reduced on November 14, 12, 7 and 4. In addition, the price of gold has been adjusted 53 times in the domestic market so far this year. Where the price has been increased 31 times, and reduced 22 times. In 2023, the gold price was adjusted 29 times.
