September 19. 2016

Page 1

SECOND EDITION

MONDAY, SEPTEMBER 19, 2016

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Ashwin 4, 1423, Zil-Hajj 16, 1437

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Regd No DA 6238, Vol 4, No 142

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www.dhakatribune.com

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32 pages |

Price: Tk10

4 banks fear losses from Hanif flyover n Jebun Nesa Alo

Four state-owned banks are fearing they might incur losses from the investment of Tk2,150 crore in the Mayor Hanif flyover, the first PPP (public private partnership) project in Bangladesh. This infrastructure project has been implemented completely through PPP in Bangladesh for the first time. The 11.7km-long flyover, Bangladesh’s longest, was fully opened from July 2014.

This is the first time state-run commercial banks have made such a long-term investment. The contractor has, however, already rescheduled the loans twice and missed its targeted payout time by three years, citing increased costs and low income. The investing banks claimed so far there has been no monitoring of the contractor’s cost estimations or the earnings from the flyover. A total of six banks and financial institutions invested Tk2,250 crore

India blames Pakistan as Kashmir attack kills 17 soldiers n Reuters, Srinagar India accused Pakistan of being behind Sunday’s separatist attack on an army base near their disputed frontier that killed 17 soldiers, in one of the most deadly attacks in Kashmir in a quarter-century-old insurgency. Four commando-style gunmen, armed with AK-47 assault rifles and grenades, burst into the brigade headquarters in Uri at 5:30am (midnight GMT) and were killed after a three-hour gunfight, a senior Indian army officer said. The incident sharply increased tensions between the bitter, nuclear-armed rivals and will raise fears of a potential military escalation. Indian and Pakistani troops are in close proximity in many places along one of the world’s most heavily militarised frontiers, and exchanges of fire are not uncommon.

Lieutenant General Ranbir Singh told reporters in New Delhi that Sunday’s attack bore the hallmarks of Pakistan-based militant group Jaish-e-Mohammed. Evidence gathered at the scene indicated the attackers were foreign and their equipment bore Pakistani markings, he added. “Our men are ready to give a befitting response,” Singh said in response to a reporter’s question. He did not elaborate. Earlier, Prime Minister Narendra Modi strongly condemned what he called the “cowardly terror attack”. “I assure the nation that those behind this despicable attack will not go unpunished,” Modi said in a series of Twitter posts. The raid came as tensions were already running high in India’s only Muslim-majority region, which has faced more  PAGE 2 COLUMN 1

INSIDE

Holidaymakers suffer for abeyant ferry services

People, on their return to the capital after observing Eid, suffered immensely at Kawrakandi ferry terminal for delayed ferry services.  PAGE 7

BB heist probe report to be made public Thursday Finance Minister AMA Muhith has said the probe committee report on the BB heist from the central bank will be made public on Thursday.  PAGE 12

in the flyover, starting in 2010. They are state-owned Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, Investment Corporation of Bangladesh (ICB), and private Social Islami Bank. The four state banks lent the lion’s share of the total amount, Tk2,150 crore. The amount was disbursed from 2010 in three phases. The contractor company was supposed to pay the dividend of the first phase from 2013. But the banks have not got

any dividend against their investment so far. According to a Bangladesh Bank investigation, Agrani Bank invested a total of Tk500 crore of which Tk200 crore was given as bridge loan, which has already expired. Although the bridge loan was classifiable as bad debt, the bank did not classify the loan as of December 2014, the central bank investigation found. The total dues of Orion Infrastructure to Agrani Bank stood

at Tk704.73 crore as of December 2014 which was 32.84% of the total paid up capital of the bank. The investigation report said the loan was very risky as it exceeded the single borrower exposure limit of 15% of paid up capital. Moreover, the loan was given to the director of Orion Infrastructure, who owns two companies that have already defaulted on loans from Agrani Bank. The investigation report advised  PAGE 2 COLUMN 1


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