Liftup solution

Grameenphone and Robi, Bangladesh's top mobile network operators, have each secured 20 MHz of spectrum from the 2.6 GHz band to improve their services, particularly for 4G and 5G. The Bangladesh Telecommunication Regulatory Commission (BTRC) approved the allocation for Tk 1,160 crore under a 15-year contract, to be paid in 10 annual installments. The spectrum boost is expected to reduce network congestion and enhance connectivity. The operators had earlier negotiated the price based on the current economic situation, resulting in a final price of Tk 58 crore per MHz.

Just after Sheikh Hasina's government was toppled on August 5, businesses across Bangladesh reported a surge in extortion demands from individuals claiming ties to political parties. In Rangpur, a footwear outlet was asked for Tk 5 lakh, while a factory owner in Chattogram received a threatening call from someone posing as a student leader. A real estate firm in Savar was threatened with arson if it didn't pay Tk 10 lakh. Business leaders at a conference voiced longstanding concerns about extortion, which has driven up the cost of goods and weakened exporters' competitiveness. Despite promises of tough action, businesses remain skeptical as extortion continues, burdening the economy and consumers.

**Bangladesh Officials Project Inflation Relief in 5-6 Months**

Finance adviser Salehuddin Ahmed and Bangladesh Bank Governor Ahsan H Mansur both anticipate a reduction in inflation within the next five to six months. Ahmed emphasized that while immediate price drops aren't expected, the government will focus on boosting supply and production. Mansur highlighted efforts to address supply issues, extortion, and foreign currency shortages to stabilize inflation. The central bank plans to maintain minimum reserve levels to support market confidence.

Business leaders are calling for swift restoration of law and order under the new interim government led by Nobel laureate Prof. Muhammad Yunus. They emphasized the need for safety and security to resume trade, which was severely impacted by recent violence and curfews. Entrepreneurs urged the government to defer Bangladesh's status graduation from a least developed to a developing nation to retain trade benefits until businesses recover.

At a meeting organized by the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), businesspeople stressed the importance of addressing export and import data miscalculations and ensuring safe transport of goods. They also called for reforms in customs and bond processes, and urged the government to publish a whitepaper on economic data errors. The business community expressed optimism about working with the interim government to revive the country’s image and support free and fair elections.

Over the past decade, Bangladesh has seen a significant rise in the outflow of its citizens abroad, yet remittance growth has lagged, increasing from $15 billion to only $24 billion. A recent World Bank study highlights that a mere 1% difference between formal and informal exchange rates can divert 3.6% of remittances to informal channels. In 2023 alone, such a deviation could shift nearly $792 million outside formal channels, with larger gaps potentially moving billions.

Despite incentives, many Bangladeshi expatriates prefer informal methods like *hundi* due to higher exchange rates and convenience. The government's efforts to curb these unofficial channels, such as cash incentives and enhanced banking policies, have had limited success. Challenges include the complexity of banking services, the unattractiveness of pension schemes, and the persistence of the *hundi* system.

To address this, the government must close the exchange rate gap between formal and informal markets, simplify banking processes, and create a strict monitoring mechanism for money transfers. Without these measures, efforts to increase formal remittances and stabilize the economy may fall short.

Finance and Planning Adviser Salehuddin Ahmed stated that the interim government will take legal action against any officials involved in irregularities, but its immediate priority is restoring economic stability. Following a meeting with finance and planning ministry officials in Dhaka, Ahmed, a former Bangladesh Bank governor, assured that the central bank, banks, and ports will resume normal operations. Ahmed, who joined as an adviser after the fall of the Sheikh Hasina-led government on August 5, has not yet issued directives to the officials.

Out of 639 police stations, 599 have partially resumed operations today with the help of the armed forces and Ansar members, according to a statement from Police Headquarters. In metropolitan areas, 97 out of 110 stations are now active. While some internal work has begun, patrolling has not yet resumed. Many stations were vandalized or torched during recent violence, and efforts to clear debris are ongoing. However, most stations are not fully staffed, as officers demand safety assurances before returning. Home Affairs Adviser Brig Gen (retd) M Sakhawat Hussain has set Thursday as the deadline for officers to report back to their stations.

পুলিশ সদর দপ্তরের এক বিবৃতিতে বলা হয়েছে, 639টি থানার মধ্যে 599টি আজ সশস্ত্র বাহিনী এবং আনসার সদস্যদের সহায়তায় আংশিকভাবে পুনরায় কার্যক্রম শুরু করেছে। মেট্রোপলিটন এলাকায়, 110টি স্টেশনের মধ্যে 97টি এখন সক্রিয়। যদিও কিছু অভ্যন্তরীণ কাজ শুরু হয়েছে, টহল এখনও শুরু হয়নি। সাম্প্রতিক সহিংসতার সময় অনেক স্টেশন ভাংচুর বা অগ্নিসংযোগ করা হয়েছে এবং ধ্বংসাবশেষ পরিষ্কার করার প্রচেষ্টা চলছে। যাইহোক, বেশিরভাগ স্টেশনে পুরোপুরি কর্মী নেই, কারণ কর্মকর্তারা ফিরে আসার আগে নিরাপত্তার নিশ্চয়তা দাবি করেন। স্বরাষ্ট্র বিষয়ক উপদেষ্টা ব্রিগেডিয়ার জেনারেল (অব.) এম সাখাওয়াত হুসেন বৃহস্পতিবার কর্মকর্তাদের তাদের স্টেশনে ফিরে রিপোর্ট করার সময়সীমা নির্ধারণ করেছেন।

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Phone: 01742-462525