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Weak Regulator, Players Responsible for Volatile Share Market: Financial Advisor
Rtv News
21 Dec 2024, 15:49
Photo: File Picture
Interim government financial adviser Dr Salehuddin Ahmed has stated that investors are not to blame for the volatility in the stock market. Instead, significant responsibility lies with the players and regulators. He emphasized the need for awareness campaigns to address this issue.
The adviser made the remarks while speaking at the unveiling event of the sixth edition of "Banking Almanac", a book of information on banks and financial institutions of the country, at the CIRDAP Auditorium in Dhaka on Saturday (December 21).
Dr Salehuddin said, "Many are buying shares in the Z-category companies that essentially have no existence. Despite knowing this, these shares are being bought with great enthusiasm. These will eventually become waste paper. On the other hand, people protest as soon as share prices drop, which I do not support."
He added that the Bangladesh Bureau of Statistics (BBS) has been instructed to publish data accurately without manipulation. He pointed out that the conditions in the stock market are as concerning as those in the banking and financial sectors.
Referring to the last 15 years of data discrepancies, Dr Salehuddin said that attempts were made to conceal information. Efforts are now being made to reform and rectify these issues.
The adviser further mentioned, "We haven't come here to demonstrate power but to fulfil a responsibility. We are working on establishing a National Single Window so that businesses can access all necessary information in one place without having to run to multiple locations."
The event, chaired by Dr Hossain Zillur Rahman, Acting Chairman of the Banking Almanac Board of Editors and a former caretaker government adviser, began with a welcome speech by Syed Ziauddin Ahmed, Executive Editor of the "Banking Almanac" book.
Special guests at the event included Finance Secretary Dr Md Khairuzzaman Mozumder, Bangladesh Bank Deputy Governor Nurun Nahar, and Bangladesh Association of Banks (BAB) Chairman and Dhaka Bank Chairman Abdul Hai Sarker.
Other notable speakers included Mohammad Nurul Amin, an esteemed member of the Banking Almanac Board of Editors and former Chairman of the Association of Bankers Bangladesh (ABB) and Chairman of Global Islamic Bank, as well as Project Director of the Almanac, Abdar Rahman.
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Police-Auto Rickshaw Driver Clash in Jurain, Railway Line Blocked
A clash between battery-run auto rickshaw drivers and law enforcement agencies took place in Jurain, the capital. Panic spread in the area. All shops in the area were closed.
The incident took place around noon on Friday (November 22). As of the last report, the situation in Jurain and surrounding areas is tense.
Earlier, battery-run auto-rickshaw drivers blocked roads and railway tracks in Jurain. In addition to the traffic jam, Narayanganj commuters were stranded at Jurain railway station. On the other hand, the Khulna-bound Nakshikatha commuter train was stranded at Kamalapur Station. In addition, Dhaka-Narayanganj and Dhaka-Mawa-Padma Setu rail traffic was also stopped.
When law enforcement officers including the police received the information and tried to remove them, a chase and counter-chase occurred between the two parties. At one stage, the blockaders retreated from the road and traffic normalized. However, train traffic has not started yet. The situation in the area is tense following the incident.
Confirming the suspension of train services, Kamalapur Station Master Anwar Hossain said that the Narayanganj commuter train was stuck at Jurain Railway Station around 12:45 pm due to the blockade. He also said that the Khulna-bound Nakshikantha commuter train is stuck at the Kamalapur Station in for the same reason.
Incidentally, last Tuesday, the High Court bench of Justice Fatema Najib and Justice Mahmudur Razi ordered the suspension of battery-run rickshaws in the Dhaka Metropolitan Area within three days. At the same time, the court also issued a rule to find out why the failure to take action in this regard. Battery-run the High Court order. On Thursday, the capital came to a standstill due to the blockade of rickshaw drivers. At that time, they clashed with members of the law enforcement agencies in turn. Train services were suspended for about 6 hours due to the blockade.
The protesters claim that they do not accept the High Court's order to ban autorickshaws. They also want the order to be withdrawn. The protesters said that they will continue their program until autorickshaws are allowed to ply. However, while there is a provision for obtaining a license for pedal-run rickshaws from the City Corporation, there is no provision for issuing a license for battery-run rickshaws. When writs were filed in 2013 and 2014 to obtain a license for battery-powered rickshaws, the High Court dismissed both those writs.
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.
47th BCS Circular to be Published This Week
The Public Service Commission (PSC) has said that the circular for the 47th BCS exam may be published this week. 3,487 officers will be recruited in various cadres through this BCS.
An official of the PSC cadre branch said that the ministry has sent information to the relevant branch of the Public Service Commission (PSC) to issue this recruitment notification. The notification is likely to be published this week.
For the past few years, PSC has been publishing the BCS exam notification on November 30. The 44th BCS notification was published on November 30, 2021, the 45th BCS notification on November 30, 2022, and the 46th BCS notification on November 30, 2023.
Earlier, at a press conference at the Secretariat on Sunday, Public Administration Secretary Md. Mokhlesur Rahman outlined the recruitment of '18,150' job seekers 'in less than two years' through the upcoming 47th BCS exam starting from the 43rd BCS.
Stating that the 47th BCS notification will be issued soon, he said that 3,487 cadres will be recruited in various fields through this BCS. In the latest 47th BCS exam circular, we have said that the recruitment process will be completed in less than two years.
On October 15, the gazette for the recruitment of 2,064 people in the 43rd BCS was published. The gazette candidates will join on January 1.
During the change of power on August 5, the viva of the 44th BCS was going on. A total of 11,732 people passed the written examination of that BCS. Out of these, 3,930 people took the viva. In the changed context, viva was postponed to August 25. Recently, after the formation of the new commission, it was decided to cancel the viva of 3,930 candidates taken earlier 'in the interest of greater transparency'. Now, it has been decided to retake the viva of all the candidates who passed the written examination of the 44th BCS, that is, 11,732 candidates.
12,789 candidates passed the 45th BCS preliminary examination. After the first examiner evaluated the written exam answer sheets, the second examiner was nearing the end of the evaluation. Recently, after the formation of a new commission, it was decided to give all the answer sheets of the written exam to the third examiner in the interest of maintaining transparency and fairness in the evaluation of the answer sheets.
The results of the 46th BCS preliminary examination were published on May 9. In it, 10,638 candidates were selected for the written exam.
The PSC has decided to re-declare the results by adding an equal number of selected candidates, i.e. 10,638, to the total of 21,276 candidates eligible for the written exam to prevent probable discrimination.
JICA Provides Tk 3,147cr For Two Projects
The Bangladesh government has signed two loan agreements with Japan International Cooperation Agency (JICA) for the construction of Jamuna Railway Bridge Construction Project (III) and Chattogram Sewerage System Development Project (engineering service).
Under the agreements, JICA will provide a total of 39,902 million yen (equivalent to 3,147 crore Taka) for the Jamuna Railway Bridge Construction (III) and Chattogram Sewerage System Development Project (Engineering Service).
The signing ceremony took place at NEC-2 Conference Room, Economic Relations Division, in the city's Agargaon yesterday.
Ichiguchi Tomohide, chief representative of JICA Bangladesh office, and Md Shahriar Kader Siddiky, secretary of economic relations division, signed the agreement on behalf of their respective sides.
Iwama Kiminori, Ambassador of Japan to Bangladesh, also attended the ceremony.
Of the loan, 38,206 million yen is allocated for the Jamuna Railway Bridge Construction Project (III) and 1,696 million yen for the Chattogram Sewerage System Development Project (Engineering Service).
The loan agreement signed for Jamuna Railway Bridge (III) is for the third tranche of the loan. The picturesque 4.8 km dedicated railway bridge runs over the Jamuna River parallel to the existing Jamuna Multipurpose Bridge.
The Bridge is expected to start its operation in early 2025 which will boost rail connectivity between the eastern and western zones of the country.
The Chattogram Sewerage System Development Project will focus on Catchment 2 and Catchment 4 (Kalurghat and East Bakalia) out of a total of six catchments. It's the first phase of the project which will support the detailed design of the entire sewerage system.
The development of the sewerage system will contribute to several key Sustainable Development Goals (SDGs) by promoting public health, environmental sustainability, and economic growth in Chattogram.
Source: BSS
Hasnat-Sarjis in Road Accident
Leaders of the anti-discrimination student movement, Hasnat Abdullah and Sarjis Alam, have been involved in a road accident. The accident occurred around 7:30 PM on Wednesday (November 27) at Haji Rastar Mor in Chunati Union on the Chattogram-Cox’s Bazar highway. They were returning after visiting the grave of Advocate Saiful Islam Alif.
Earlier, the body of Saiful Islam Alif was taken to the Jamiatul Falah Mosque ground in Chattogram city, where the second funeral prayer was held. Hasnat Abdullah and Sarjis Alam attended the prayer.
After the burial, Hasnat Abdullah and Sarjis Alam visited Advocate Saiful’s grave. Present during this time was Chattogram city Jamaat-e-Islami Ameer Alhaj Shahjahan Chowdhury.
The deceased lawyer, Saiful Islam Alif, was a government prosecutor (APP). Alif hailed from Jamal Uddin’s family in Chunati, Lohagara. He became a member of the district bar association in 2018 and was later registered as a High Court lawyer.
Lawyers Protest Murder of Advocate Saiful Islam Alif
In protest of Advocate Saiful Islam Alif’s murder, lawyers declared a boycott of the Chattogram court. This decision was made during an emergency meeting of the district bar association on Tuesday.
Meanwhile, a joint force conducted overnight raids in Chattogram and detained 30 individuals in connection with the lawyer's murder. Police stated that two cases are in the process of being filed at Kotwali Police Station regarding the incident.
