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August Inflation Drops but Remains High Amid Uncertainty
Rtv News
08 Sep 2024, 17:08
Photo: Collected
In August, Bangladesh’s overall inflation dropped by 1.17 percentage points, standing at 10.49 percent, according to a report released by the Bangladesh Bureau of Statistics (BBS) on Sunday (September 8). This follows an inflation rate of 11.66 percent in July.
Food price inflation also saw a decline, falling from 14.10 percent in July to 11.36 percent in August.
The unrest from student-led protests demanding quota reforms in government jobs, which escalated into a mass movement, had a significant impact on trade and supply chains in July. This, coupled with the nationwide curfew and political instability following Prime Minister Sheikh Hasina's resignation on August 5, contributed to the inflationary spike.
Highlights:
Overall inflation in August 2024 decreased to 10.49%, down from 11.66% in July.
Food price inflation dropped from 14.10% in July to 11.36% in August.
Policy interest rate raised by 50 basis points to 9% on August 25.
Standing Lending Facility (SLF) rate increased by 50 basis points to 10.50%.
Standing Deposit Facility (SDF) rate raised by 50 basis points to 7.50%.
The interim government assumed power on August 8, and on August 25, Bangladesh Bank raised the policy interest rate by 50 basis points to 9 percent to curb inflation, following earlier hikes in May. The Standing Lending Facility (SLF) and Standing Deposit Facility (SDF) rates were also increased by 50 basis points to 10.50 percent and 7.50 percent, respectively.
Despite these monetary tightening measures, Bangladesh continues to grapple with high inflation, making borrowing more expensive and straining the economy.
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Dr Yunus Calls for International Conference to Solve Rohingya Crisis
Interim Government Chief Advisor Dr Muhammad Yunus urgently called for an international conference to ensure a durable solution to the Rohingya crisis and the 'safe and dignified' repatriation of the Rohingya population to Myanmar.
He made this call in a message given on the occasion of United Nations Day on Thursday (October 24).
Originally, UN Day was observed on 24 October to mark the anniversary of the entry into force of the UN Charter in 1945.
The United Nations officially came into existence on this day with the ratification of this founding document by a majority of the signatories of the Charter, including the five permanent members of the Security Council.
In a message given on the occasion of the day, Dr Yunus drew the attention of the United Nations to give 'urgent attention' to the Rohingya crisis. He said, "We cannot ignore those in Rakhine State (Myanmar) or Gaza who continue to suffer oppression, overthrow, and grave human rights violations."
The Chief Adviser said that including 40 thousand newly arrived Rohingyas, more than 1.3 million Rohingyas have taken shelter in Bangladesh, and said that Bangladesh calls on the United Nations to take final steps to protect civilian children, women, and men. At the same time, it also called for dialogue to ensure peace in Gaza Lebanon, and the wider region.
He said, "On this day, Bangladesh reiterates its commitment to work with the international community to build a more just and peaceful world for its common interests. At the same time, the commitment to achieve dignity and rights for all must be implemented."
On the occasion of the United Nations Day, Dr Muhammad Yunus extended his heartiest congratulations to all the men and women of the UN family around the world and reiterated his (Bangladesh's) commitment to the ideals of the UN Charter on behalf of the people of Bangladesh.
He also called for reforming the United Nations to make it more inclusive, transparent, and responsive to meet the aspirations of all people in an increasingly global context.
Train Schedule Disruption Persists
Although the derailed Panchagarh Express coach has been recovered, the situation remains unmanageable due to damage to the signaling system. As a result, each train is departing three to three and a half hours late.
On Saturday (October 26), not only the journey was delayed, but the railway authorities also canceled the journey of the inter-city Jayantika Express on the Dhaka-Sylhet route and the Agnibina Express on the Dhaka-Tarakandi route.
Meanwhile, passengers returning to Dhaka after a long time are also expressing their anger, blaming the authorities for the prolonged situation.
Railway authorities said that efforts are underway to normalize the schedule. They say the train is still running with the manual signal. Work is underway to fix the signal issue.
Although the carriage of the derailed Panchagarh Express has been recovered, the situation is still beyond control due to the damage to the signal system.
Meanwhile, the railway authorities have formed an inquiry committee into the derailment of the coach. Action will be taken subject to the report of the committee.
It is to be noted that the Panchagarh Express train met with an accident at the Kamalapur railway station area on Thursday (October 24). In this, 3 coaches of the train fell off the line. However, no one was injured.
6 Killed as Truck, CNG Collide in Narsingdi
Six people were killed in a head-on collision between a truck and a CNG-run auto-rickshaw at Shibpur in Narsingdi this afternoon.
The accident took place on the Itakhola-Monohardi road in the Pacharbari area of Shibpur on Saturday (October 26) afternoon.
The victims were not immediately identified.
Shibpur Police Station's Officer-in-Charge (OC) Md Afzal Hossain confirmed this.
According to the police, and locals, a CNG carrying passengers from Itakhola was going to Manohardi on Saturday afternoon. When the autorickshaw reached a place called Pacharbari, it collided with a truck going to Itakhola. The CNG was completely twisted. Six people, including the autorickshaw driver and passenger, died on the spot. After receiving the information, the fire service and the police are conducting a rescue operation.
He said that all the victims were passengers of the autorickshaw. Among them, there is a woman. We are currently working to recover the bodies and their identities.
Ex-DMP Commissioner Detained at Airport While Leaving Country
Retired Additional IGP and former Dhaka Metropolitan Police (DMP) Commissioner Khandaker Golam Faruk was detained at Hazrat Shahjalal International Airport while leaving the country for Bangkok, the capital of Thailand.
Anti-Corruption Commission (ACC) has filed an application against him for corruption of Tk3,000cr.
A source in charge of Hazrat Shahjalal International Airport confirmed that he was detained around 3 am on Sunday (October 27).
It is known that Golam Faruk was going to Bangkok on Thai Airways flight TG-340 for a personal visit. However, he was interrogated by immigration officials after going to the airport's exit immigration counter.
After that, he was not allowed to board the plane. Golam Faruk is currently with the Immigration Police. It has not yet been decided whether he will be handed over to the police or he will return home.
Golam Faruk joined Bangladesh Police as Assistant Superintendent of Police in the 12th BCS (Police) cadre in 1991. On October 29, 2022, he assumed responsibility as the 35th Commissioner of Dhaka Metropolitan Police.
After a long career of 32 years and 8 months, he retired on September 30, 2023. This retired police officer is reported to have a US green card.
Ex-Public Works Minister Engineer Mosharraf Hossain Arrested
Former Minister of Housing and Public Works and former Member of Parliament of Chattogram-1 Constituency Engineer Mosharraf Hossain has been arrested by the Detective Branch (DB) of Dhaka Metropolitan Police.
He was arrested from the capital's Bashundhara residential area on Sunday (October 27)
Muhammad Talebur Rahman, Deputy Commissioner (media and public relations) of Dhaka Metropolitan Police (DMP), and DB Additional Commissioner (Media and Public Relations) Rezaul Karim Mallik confirmed the matter.
Talebur Rahman said that Mosharraf, the former Awami League lawmaker from Chattogram-1, was accused in a murder case filed at Paltan Police Station.
Engineer Mosharraf Hossain won the 1st, 3rd, 7th, 9th, 10th, and 11th parliamentary elections as an Awami League candidate from Chattogram-1 Constituency.
He was also the Minister of Civil Aviation and Tourism in the period from 1997 to 2001, before taking charge of the Ministry of Housing and Public Works in the 10th National Parliament.
HSC, Equivalent 2024 Re-evaluation Result Date
The results of HSC and equivalent re-scrutiny 2024 will be published on November 14, said Inter-Education Board Coordination Committee Chairman Professor Tapan Kumar Sarkar.
He revealed this information to the media on Sunday (October 27).
Professor Tapan Kumar Sarkar said that the results of the re-evaluation are usually published within one month of the publication of the main results of HSC and equivalent examinations. As a result, on November 14, all the education boards will publish the results of the re-scrutiny of the HSC and equivalent examination.
Officials related to the examination of the Dhaka Board said that the board has not yet received the information about how many students have applied for re-revision of the HSC and equivalent examination results from all over the country.
They also said that the exam papers of students are not re-evaluated. Only the marks given by the examiners are checked whether they are added correctly or not.
Earlier, the HSC and equivalent exam results were released on October 15. The average pass rate in 11 education boards is 77.78 percent. Application for re-evaluation of results was taken from October 16 to 22.
The HSC and equivalent exams started on June 30. There were 14 lakh 50 thousand 790 candidates. As per the first published routine, after 8 days of examinations, all examinations on 18th July were postponed due to the situation surrounding the quota reform movement. After that, the government suspended the examination in three stages.
Based on the marks obtained by the student in the SSC examination, the education board has prepared the result with the same marks in the HSC. Moreover, if there is no match between the department and the subject, the subject mapping methods have been followed.
Education Board announces SSC, HSC Exam 2025 Timeframe
Secondary School Certificate (SSC) and equivalent exams may begin in mid-April next year.
At the same time, the Higher Secondary School Certificate (HSC) and equivalent exams begin in the last week of June.
According to this plan, the education boards have instructed the concerned to prepare.
The source of the Ministry of Education and the Dhaka Secondary and Higher Secondary Education Board informed this on Sunday (October 27).
Sources said that the government wants to implement the SSC and HSC exam schedule if no major incident occurs.
In this regard, Dhaka Board Examination Controller Professor Abul Bashar said that the month of Ramadan will continue in March. Eid-ul-Fitr may be on March 31 or April 1. Preparations are underway to take the SSC and equivalent exams after fasting and Eid holidays.
He also said that June 7 will be the holy Eid-ul-Azha. After that, we are planning to take HSC and equivalent exams.
