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Our fiscal transparency in the report of USA

MS Siddiqui

Since 2008, in consultation with other relevant US agencies, the US Department of State has been conducting fiscal transparency assessments of governments that receive US foreign assistance.The Fiscal Transparency Report to US Congress on update of the Fiscal Transparency as per "The Department of State, Foreign Operations, and Related Programs Appropriations Act". It is annual ...

Reforms of economic laws needed

MS Siddiqui

The interim government has decided to form six commissions to reform the judiciary, election system, administration, police, Anti-Corruption Commission, and the constitution. There is commission to work on economic laws and rules.Bangladesh has been facing a worsening macroeconomic situation since the beginning of 2022, manifested by the decline in foreign exchange reserves and slow growth ...

Bid rotation fosters corruption in public procurement

MS Siddiqui

In a recent meeting, the Chief Adviser Dr Mohammad Yunus emphasised on transparency and accountability of public procurements. The public procurements practice and some of the rule should be revisited. Public procurement is supposed to be carried out through competitive bidding with the objective of achieving maximum economic efficiency by getting the best value for ...

Our food wastage is too high

MS Siddiqui

According to the World Food Program (WFP), worldwide,811 million people pass their night with empty stomachs due to lack of food. According to the Food and Agricultural Organization (FAO), the world's 877 million hungry people could be fed, with a third of the food wasted or thrown away each year.As per the World Food Program's ...

Legal obligation to recover assets shifted abroad

MS Siddiqui

It is morally wrong to let the corrupt enjoy their ill-gotten wealth. The corrupt cannot be allowed to live handsomely off the profits of their crimes while millions of law-abiding citizens work hard to earn a living. The confiscation of the assets of corrupt is thus important for the confidence of the public in the ...

Bribery is human made economic disaster

MS Siddiqui

Corruption is dishonest or fraudulent conduct by those in power, typically involving bribery. Bribery is offering, giving or receiving anything of value with the intention of inducing a person to act or to reward a person for having acted. According to all major ranking institutions, Bangladesh routinely finds itself among the most corrupt countries in ...

Government should focus on semiconductor industry

MS Siddiqui

Semiconductors, also known as integrated circuits, microelectronic chips, or computer chips are tiny electronic devices primarily made of silicon or germanium. It is composed of billions of components that can process, store, sense, and move data or signals. There are a number of types of semiconductor chips-including logic, memory, analog, optoelectronics, sensors, and discrete. These ...

A good exit policy for non-wilful loan defaulters

MS Siddiqui

In 2019, the central bank issued a special policy regarding a one-time exit for customers with loans over Tk500 crore. According to the policy, the loan is to be repaid over 10 consecutive years with a grace period of one year, at 9% simple interest, with a 2% down payment. The plan could not yield ...

An independent assessment of NGOs’ activities

MS Siddiqui

Non-government organizations (NGOs) in Bangladesh are diverse in the activities, sizes and funding sources etc. They work to fill up the untouched areas that are not covered by economic agents like Government, Community, Market, and Individual Citizen. NGOs are working with its all concerns contributing to the creation of apoverty free Bangladesh.They have had success ...

Whats parallel import?

MS Siddiqui

Parallel importation is understood as a mechanism of selling a non-counterfeit and branded product imported from another country in the local market without permission of the trademark owner.The doctrine of parallel importation developed on resold theory or the doctrine of international exhaustion of branded products. The common example of this parallel import in our country ...