22 oct, 2014

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Kartik 7, 1421 Zilhajjj 26, 1435 Regd No DA 6238 Vol 2, No 198

WEDNESDAY, OCTOBER 22, 2014 | www.dhakatribune.com

20 pages plus 8-page Treehouse children’s supplement | Price: Tk12

B1 | BUSINESS

7 | LONG FORM

14 | SPORT

B1 | BUSINESS

WORD ON THE STREET: THE DOLL STORY

LET’S GET OUR HEADS TOGETHER

MADRID’S TRIP TO ANFIELD TOPS BILL

EU RETAILERS URGED NOT TO PULL OUT OF BANGLADESH APPAREL SECTOR

Anaemic private investment stunting growth

ST R E E T L AW I N AC T I O N

World Bank: Consumer confidence growing but business confidence yet to pick up deterring private investment, slowing n Kayes Sohel down economic growth, Zahid said. Bangladesh’s economy is plodding along well beneath its potential, says the World Bank, as infrastructure bottlenecks and political uncertainty keep it from performing at full capacity. But data published in the World Bank’s (WB) Bangladesh Development Update Report, released yesterday at its Dhaka office, suggests that the country has a robust domestic demand and its people have significant purchasing power. The WB report said the economy recorded domestic retail sales, to the tune of $12bn, during the last two Eid

Infrastructure investment increased from less than 1% of GDP in FY09 to about 2% in FY13, still lower than the 7-10% needed annually festivals, indicating both consumer confidence and significant purchasing power. “The economy is progressing, but below its potential,” World Bank South Asia Finance and Poverty group lead economist Zahid Hussain told the Dhaka Tribune. Short-term profit taking investment was taking place but long- and midterm investment required for sustainable economic growth still lagged behind target, he said. The Bangladesh economy has failed to find its pace because uncertainty persists, he added. This is stunting competitiveness and

India warns Pakistan of more pain in Kashmir fighting

n Reuters, New Delhi

India warned Pakistan yesterday of more “pain” if it continued to violate a ceasefire on their disputed border in Kashmir and said it was up to Islamabad to create the conditions for a resumption of peace talks. The two sides exchanged mortars and intense gunfire this month, killing at least 20 civilians and wounding dozens in the worst violation to date of a 2003 ceasefire. While the firing has abated, tension remains high along a 200km stretch of the border dividing the nuclear-armed rivals. “Our conventional strength is far more than theirs. So if they persist with this, they’ll feel the pain of this adventurism,” Indian Defence Minister Arun Jaitley told NDTV in an interview. Indian Prime Minister Narendra Modi’s government came to power in May promising a tough response to violence in the Himalayan territory. It accuses Pakistan of helping Islamist militants cross into its side to keep alive a 25-year armed revolt in India’s only Muslim-majority state. Military officers on both sides say Indian border commanders adopted a more aggressive stance in the clashes

The festival retail figure was derived from retail shop owners’ estimates of Tk55,000 crore in sales during Eid-ulFitr and about Tk1 crore in sales of sacrificial animals during Eid-ul-Azha reported by news media, according to Zahid. “This indicates that consumer confidence has increased,” he said. MasterCard Worldwide Index of Consumer Confidence increased from 40.4% in the second half of 2013 to 66.4% in the first half of 2014. Business and institutional investment in the private sector did not match consumer confidence. He said quality growth was not possible without increases in private investment. “But business confidence is yet to return as reflected in sluggish private sector credit growth,” the WB economist said. According to Bangladesh Bank, private sector credit growth inched up a tenth of a percentage point to 11.4% in August compared with 11.3% in July this year. The multilateral development bank revised its Bangladesh economic growth projection marginally upwards to 6.2% from its April forecast of 5.9%. Political stability since early January, signs of an uptick in remittance inflows, continued strength in exports as well as buoyant domestic consumption bode well for GDP (gross domestic product) growth in the current fiscal year, the WB report said. The WB projection fell far beneath the government’s growth target of 7.3% and slightly lower than the Asian Development Bank’s 6.4% forecast for fiscal year (FY) 2014-15.  PAGE 2 COLUMN 1

Traffic police beat up a CNG-run autorickshaw driver for trying to get away after defying a traffic signal yesterday at the Saarc Fountain intersection in the capital’s Karwan Bazar area. Witnesses said the driver tried to slip away despite several signals to stop by the traffic police, but one traffic police member blocked his way, got him out of his vehicle and started beating him MEHEDI HASAN

Expelled Awami League leaders top the list of illegal arms buyers n Mohammad Jamil Khan A large number of buyers of illegal arms in the capital are allegedly “expelled” ruling party leaders, the Detective Branch of police have learned from a sales list that was recently seized. Based on information from arrested arms dealers and by analysing the register that listed the last couple of month’s sales, it was also found that illegal gun traders operated in 15 groups across Dhaka. DB sources said the sales list was acquired following the arrest of three illegal arms traders from the capital’s Kalyanpur on Sunday. The arrestees –

Abbas fails to budge irate JCD leaders n Mohammad Al-Masum Molla The ongoing crisis created over the formation of a Chhatra Dal new committee is yet to be resolved as deprived leaders stick to their guns on two-point demands. The demands include cancellation of the new committee and expulsion of Sahiduddin Chowdhury Annie and Sultan Salahuddin Tuku. The deprived and aggrieved leaders also demanded that the new committee’s activities be postponed until the crisis was resolved. But party’s Standing Committee Member Mirza Abbas claimed that the problem would be resolved soon. “The students staging demonstra-

tions are neither rebel nor deprived. Rather there are some differences of opinion between the student leaders. It is very much possible to resolve.” Meanwhile, the police detained at least 22 Chhatra Dal leaders and activists in front of the party’s central office yesterday morning. The party’s acting secretary general, however, alleged that the agents of the government launched attack on the party’s Nayapaltan headquarters and vandalised the office. Mirza Abbas held a meeting with the deprived and aggrieved Chhatra Dal leaders at her residence around 3.30pm where Jubo Dal President Syed Moazzem Hossain Alal was also present.  PAGE 2 COLUMN 1

INSIDE

 PAGE 2 COLUMN 5

11 | Op-Ed

12 | Entertainment

5 | News

13 | Sport

It was in the late 90s when I first laid my hands on Salman Rushdie’s infamous book, The Satanic Verses, in London. It gave me shivers in my warm room as I started going through the pages. I could not continue.

DU admission seekers, who staged demonstration on the campus, have submitted a memorandum to the VC seeking the restoration of the system that allowed them to appear twice in the admission test.

Moushumi Hamid, who rose to prominence as a model and later as a smallscreen actor, is having a busy time moving from one set to another and acting in feature films. Currently, she is busy with ‘Purno Doirgho Prem Kahani 2’.

Half-centuries from Shamsur Rahman and Shuvagata Hom guided the BCB XI to a lead of 11 runs by the close of the second day’s play in the lone three-day warm-up game against Zimbabwe.

Moniruzzaman alias Shimul, Md Kamal Hossain and Ruhul Amin – are now on a three-day remand, while the DB police was investigating into the case. The sales list showed that the biggest clientèle of the illegal arms dealers included muggers, goons and hit-men. Seeking anonymity, a senior DB official, who was involved in the investigation process, said the sales list showed that a major percentage of illegal arms was procured by ruling party men. A huge quantity of those illegal arms was smuggled through the borders, the official added. Asked about the number of illegal arms currently in circulation, DMP’s

Deputy Commissioner Masudur Rahman said they did not yet have any exact figure, but added that raids against illegal arms traders were under way. A number of illegal arms traders have already been arrested, while the police have also achieved success in recovering illegal weapons and ammunition, Masudur claimed. During interrogation, the arrested arms dealers said they usually brought their shipment of products into the city based on the demand from the clientèle, said a DB official who was present during the questioning. Most of the buyers wanted to purchase small and  PAGE 2 COLUMN 5

Madrasa student murdered while fending off rapist n Manik Miazee An 11-year-old boy studying at a South Keraniganj madrasa had his throat slit with a kitchen cleaver early Monday after resisting a rape attempt by a school staff member, his killer admitted to police yesterday. The self-confessed killer, Shah Alam, a 35-year-old cook at Tahfizul Quran Nurani Hafezi Madrasa, admitted to rape the same boy a month ago. “I don’t know what came over me. I killed the boy with a boti in the madrasa kitchen,” Shah Alam, whose wife is nine months pregnant, said yesterday at the media and community centre  PAGE 2 COLUMN 2


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