This number has already surpassed the figure of entire May, which was just $1.69 billion. If the trend continues, remittances inflow in June would exceed the $2bn mark by the end of the month, reports UNB.

While this mark was crossed in March ($2.02 billion), the flow of remittances in April ($1.68bn) and May ($1.69bn) was disappointing again.

Bangladesh Bank officials noted that people tend to spend more during Eid. On occasion of Eid ul Azha, many expatriates would perform the rite of qurbani (sacrifice, usually of cattle) in Bangladesh. So a hike was indeed expected in the last month of the 2022-23 fiscal.

Energy Economics and Financial Analysis (IEEFA), the US-based research organisation, from its analysis also showed that Bangladesh needs up to US$1.71 billion annually till 2041 to achieve its target to generate 40m percent of electricity from renewable sources.

The report, released on Wednesday, said the average electricity generation cost is likely to cross double-digits in Bangladeshi Taka (Tk) terms in FY2022-23.

“Our analysis shows that the existing power system can immediately incorporate 1,700 megawatts (MW) to 3,400MW of solar during the day and, subject to the feasibility of location and availability of sufficient wind speed, 2,500MW to 4,000MW of wind power at night to reduce the use of costly furnace oil-based power generation,” said the report’s author Shafiqul Alam, energy finance analyst of IEEFA.

Such a move will also help reduce the average electricity generation cost.

According to the report, estimates show that the levelised cost of electricity (LCOE) from rooftop and utility-scale solar is around Tk5.25/kilowatt-hour (kWh) (US$0.05/kWh) and Tk7.6/kWh (US$0.072/kWh), respectively.

On the other hand, the average electricity generation cost of the Bangladesh Power Development Board (BPDB) was Tk 8.84/kWh (US$0.084/kWh) during the FY 2021-22. It is likely to cross double digits in Tk during FY2022-23.

Bangladesh should aim for renewable sources to make up 40 percent of its total power generation capacity by 2041, says the new report which charts a path for the country to transition its electricity sector away from dependence on expensive imported fossil fuels and ease its growing subsidy burden.

The report estimates that a more ambitious clean energy capacity target of 40 percent by 2041 (without storage facilities) would require an annual investment of US$1.53 billion to US$1.71 billion from 2024 through to 2041, which is less than the power sector’s fiscal year (FY) 2021-22 subsidy burden.

It adds that a faster transition to renewable energy would free up financial resources that otherwise end up as subsidy payments.

“Bangladesh’s electricity generation model appears unsustainable without a clear transition pathway. Therefore, policymakers should raise their renewable energy targets and reflect the same in the upcoming Integrated Energy and Power Master Plan (IEPMP),” said Shafiqul Alam.

“The government should also translate the renewable energy policy target into a year-wise action plan backed by a monitoring mechanism to track progress,” he adds.

The report finds that high prices of fossil fuels and resultant increased power generation costs have led to a surge in the subsidy required by the country’s power sector. For FY2021-22, the subsidy reached Tk 297 billion (US$2.82 billion), nearly 152% higher than FY2020-21 and a whopping 301 percent higher than FY2019-20.

“Rising subsidies eventually compel the government to pass the rising cost on to the consumers. This results in a spectre of price hikes for electricity and different fuels in quick succession. Despite these price hikes, the subsidy burden of the power sector in FY2022-23 could still be higher than the previous year,” said Alam.

Instead, the report finds that accelerating the transition of the electricity sector to renewable energy can free up financial resources and enhance the country’s energy security.

The report calls on the government to ring in policy changes to promote the adoption of renewable energy. For example, the report suggests the government lift the current cap on rooftop solar installation capacity by up to 70 percent of the sanctioned load of industrial and commercial buildings.

Similarly, it also recommends waiving applicable duties on fibre-reinforced polymer (FRP) walkways, imported inverters, mounting structures and direct current (DC) cable, ranging from 15.25 percent to 58.6 percent for rooftop solar projects.

“Such moves will send the right market signals about the government’s vision for the electricity sector’s transition,” says Alam.

Finally, the report says Bangladesh needs to have a map of funding channels, including local resources and international sources. For this, Bangladesh can draw on lessons from Indonesia and Vietnam’s Just Energy Transition plans to fund its electricity sector transition.

From India’s experience, the report finds that risk mitigation measures, such as risk guarantee funds, will shield the project developers. Furthermore, competitive renewable energy procurement through auctions will help reduce renewable energy tariffs and help Bangladesh contain the rising electricity generation cost, said the IEEFA report.

The Fire has completely ravaged the shops at Banga Bazar, said Prothom Alo’s Abu Taher Sohel who is in the area now.

Md. Tofazzal had a sari shop at Banga Bazar. He invested a lot of money in the business centring the coming Eid-ul-Fitr. Tofazzal was seen crying in front of the market. He said he could not take out anything from the shop.

Another shop owner, Syed Russel, was also seen crying. He had a shop of readymade shirts at Banga Islami Market. He said everything is completely destroyed.

At least 50 units of fire service have been working to douse the blaze. Local people and teams of army and police are also accompanying them in dousing the fire.

Local people were also seen helping the traders take out the goods from the shops where the fire has not yet spread.

A huge number of people gathered on the Mayor Hanif Flyover near the Banga Bazar.

Fire service got the news of fire at around 6:10 am on Tuesday.

Speaking to Prothom Alo at around 8:00 am, Rafi Al Faruque, duty officer of the fire service control room said they have not got any information of any injuries or casualty.

He could not confirm the source of fire immediately.

A public notice signed by Bandarban Deputy Commissioner Yeasmin Parvin Tibriji was issued in this regard this evening.

According to the notice, the ban has been given for the safety of tourists as patrolling against the presence of extremists and criminals are being carried out in the region.

On December 4, a ban was imposed on tourism in Rowangchhari, Ruma and Thanchi upazilas till December 11.

On December 11, the ban was extended for indefinite period in Ruma and Rowangchhari upazilas.

Under the project, the government is also building and improving relief administration and distribution centre, multipurpose community service centres, hat bazaars, firefighting warehouses, roads, footpaths, drains, culverts, bridges, lightning arresters and installs solar street lights inside the camps, said a press release today.

EMCRP, aided by the World Bank, was launched to provide greater protection for the around about 11.00 lakh Forcibly Displaced Myanmar Nationals (FDMNs) in times of natural disaster and improve social service delivery system by improving communication network, social resilience and other facilities.

The World Bank is providing a $165 million grant to help Bangladesh to provide basic services and build disaster and social resilience for the Rohingya who have fled violence in Myanmar and sought shelter in the Teknaf and Ukhia Upazilas.

Local Government Engineering Department (LGED), Department if Public Health (DPHE) and Ministry of Disaster Management and Relief (MoDMR) are implementing the project.

Talking to BSS, Project Director of the EMCRP, being implemented by LGED, Javed Karim said the project is helping build and rehabilitate basic infrastructure, improve community resilience and help prevent gender-based violence against the forcibly displaced Rohingya population.

He informed that the project has planned to conduct key investments to improve connectivity (with about 29 percent of the project budget) that includes improvement of 25 km internal roads in camps, construction of 10 access and evacuation bridges, construction of 205 km access and evacuation roads, improvement of 6 hats, construction of 23 emergency shelters and construction of 30 multi-purpose service centers.

Boktiar Uddin, a local shopkeeper of the camp-19 under Ukhia upazila, said due to the government initiative, the communication system and other facilities are improving day by day.

“We are now moving one place to another place easily. The road communication and other facilities are now better than earlier,” he added.

Mohammad Shahjahan, Director and CEO of the Bangladesh Center for Communication Programs (BCCP), a Community Awareness Service (CAS) provider to EMCRP-LGED, said the project would help mitigate some of the risks facing both the forcibly displaced and their host communities and help implement a development response which complements humanitarian activities on the ground.

The interventions through this project to strengthen the government capacity will contribute to meeting both immediate and medium-term needs for the FDMNs and to further support the GoB to manage the crisis, he added.

The Rohingya people started seeking refuge in Bangladesh as early as 1978. The first influx in 1978 consisted of 250,000 Rohingyas, and the second in 1991-1992 was of similar number. During this time, UNHCR established 20 camps in Cox’s Bazar district for the Rohingya refugees. In 1993-1997, 230,000 Rohingya refugees were repatriated back to Myanmar. After that, in 2017, the largest number of Rohingya people (655,000) fled Myanmar and sought refuge in Bangladesh. From 2017 to 2019, the total number of refugees increased to 826,485 with the influx of new refugees.

“We have built Digital Bangladesh under Prime Minister Sheikh Hasina’s leadership. Now our aim is to build a Smart Bangladesh. And it will be the slogan of Awami League for the next election”, he said.

He was addressing the annual council of Bangladesh Chhatra League’s Dhaka University unit on the premises of Aparajeyo Bangla on the university campus.

Quader, also road transport and bridges minister, said Prime Minister Sheikh Hasina has implemented the Digital Bangladesh as per her electoral pledge with the cooperation of her ICT Affairs Adviser Sajeeb Wazed Joy.

He said BNP again proved that they are not a pro-Liberation War force by shifting its rally venue from Suhrawardy Udyan to Naya Paltan,

Suhrawardy Udyan is the place from where the journey of the country’s great Liberation War started, Father of the Nation Bangabandhu Sheikh Mujibur Rahman delivered his landmark speech on March 7 in 1971.

BNP’s such decision hints that they might carry out violent acts during their rally as they cannot tolerate the AL government’s development projects such as Padma Bridge, Karnaphuli Tunnel and Metro Rail, Quader said.

“Awami League leaders and activists are not afraid of Naya Paltan rather we are afraid of BNP’s terrorism, violence and playing with sticks which are the activities of the party,” he added.

Issuing a fresh warning that the final game will be played in this December, the month of victory, and the next general elections as well he said Awami League leaders and activists will not sit idle If BNP tries to occupy the capital on December 10.

If BNP tries to create any disorder, violence or terrorist acts in the name of rally, the Awami League leaders and workers along with the people will give them a befitting reply, he added.

About the BCL committee, Quader said BCL’s central, Dhaka city north and south units and Dhaka University unit committees will be announced together as per its tradition.

BCL central president Al Nahean Khan Joy, General Secretary Lekhak Bhattacharjee and BCL DU unit General Secretary Saddam Hussein addressed the council session, among others.

BCL DU unit president Sonjit Chandra Das chaired it.

Presidents, general secretaries of different DU hall units, leaders and activists BCL other units of the university also joined the function.

“We’ve been identified the man behind the incident … but we’re not disclosing the name right now for the sake of investigation,” chief of CTTC unit of Dhaka Metropolitan Police (DMP) told a press conference today.

He said some accomplices of the key person have also been identified.

Some unidentified persons attacked police personnel and snatched away two militants of the banned militant outfit Ansar Al Islam from the Dhaka Chief Judicial Magistrate’s court premises on Sunday.

Jashim made this remark at the Networking Dinner in honour of the President of the Confederation of British Industry (CBI) & Chancellor of the University of Birmingham Lord Karan Bilimoria, CBE DL FCA this evening at a hotel in the city.

The FBCCI chief sought CBI President’s support in Bangladesh’s initiatives for signing FTA with the UK and also solicited his assistance for continuing the existing trade benefit received from UK in the post LDC period.

“We look forward to the future of our engagements through signing an MoU with CBI and joint programs for business promotion, industry-academia partnerships and skills development,” the FBCCI President added, said a press release.

At present, trade between Bangladesh and the UK stands at US$5.46 billion. In the FY 2021-22, Bangladesh exported goods worth US$4.83 billion to UK while imports were US$ 0.63 billion.

Seeking more UK investment, the FBCCI President said, “With the present pace of business growth and infrastructural development, we will be able to become the South Asian center for excellence and a regional hub with access via road, rail and sea. We foresee the scope of strengthening cooperation in trade and investment with a focus on development and innovation, food processing, ICT, Plastic, petrochemical, shipbuilding, tourism, infrastructure development, petroleum and energy and knowledge transfer to facilitate the transition of the 4IR.”

Speaking as the chief guest, Industries Minister Nurul Majid Mahmud Humayun praised the democracy of Bangladesh and described the economic success stories that took place during the last 14 years of tenure of the Awami League government.

“The UK will remain a friend in the future journey of Bangladesh towards a developing country,” the ministers expected.

President of CBI and Chancellor of University of Birmingham, UK Lord Karan Bilimoria recalled the liberation war of Bangladesh in 1971 as his father took part in that war as a member of the Indian Army.

The Lord expected the two countries to work together in harnessing the potential of the Bangladeshi youths highly skilled in ICT.

In future, the UK will welcome more Bangladeshi students in UK universities, said the Chancellor of Birmingham University, UK. “Developing the empathy between two countries is essential to bolster the bilateral investment,”the lord added.

Masud Bin Momen, Senior Secretary, Ministry of Foreign Affairs urged the private sector of the two countries to conduct a feasibility study on exporting Bangladeshi agro-products to the UK.

He also recommended undertaking initiatives to increase the access of Bangladeshi freelancers to the UK outsourcing market. “The private sector also may work on how Bangladesh can export more doctors, nurses, caregivers to the UK market,” the the foreign secretary added.

British High Commissioner Robert Chatterton Dickson urged Bangladesh to work on getting more UK companies interested in investing in Bangladesh. He also suggested further developing the business environment.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu delivered the closing remarks at the event.

Former presidents of FBCCI Md. Mahbubur Rahman, Kazi Akram Uddin Ahmed, AK Azad, Matlub Ahmad, Vice Presidents Md. Amin Helaly, Salahuddin Alamgir, Md. Habib Ullah Dawn and directors of FBCCI were present, among others.