US ‘closely monitoring’

lead-up to Bangladesh
polls, calls for respect
for rule of law
P13 - 28
DIPLOMACY – USA
t for
Look ouecial
our sp ent UNB
supplem on The United States has said they are “closely
monitoring” developments in Bangladesh
ION
www.tbsnews.net
AVIAT leading up to the elections.
“It’s important for free and fair elections
WEDNESDAY 25.10.2023 that all stakeholders  I SEE PAGE 2 COL 2
28 PAGES I PRICE TK15

Gas crisis worsens with Israel kills 700

Palestinians
Cyclone Hamoon
weakens, makes
payment delays to suppliers in overnight
strikes landfall with gusty
ENERGY – BANGLADESH WAR – GAZA winds, heavy rainfall
SHAHADAT HOSSAIN CHOWDHURY AND ABBAS UDDIN NOYON REUTERS WEATHER – BANGLADESH

Some LNG sources now reluctant to supply Hamas frees 2 more TBS REPORT

gas because of outstanding dues hostages; 5,791 The cyclonic storm Hamoon started crossing the Bangladesh
coast at about 6pm yesterday, triggering gusty winds and
Palestinians killed so far heavy rainfall across Cox’s Bazar, as it weakened from a severe
Another gas crisis has hit industries and households as supply of lique- cyclone to a normal one.
fied natural gas (LNG) from the spot market sees a squeeze as a conse- More than 700 Palestinians were The Bangladesh Meteorological Department forecast that coast-
quence of delays in import bill payments amid the current dollar crisis. killed in overnight Israeli air strikes on al areas may see tides three to five feet above normal. It is likely to
The crisis comes at a time when industries across the board, in- Gaza on Tuesday, the highest 24-hour cross Bangladesh territory by Tuesday night.  I SEE PAGE 4 COL 2
cluding cement, steel, and garment sectors, are already grappling death toll since Israel began a bomb-
with diminished demand due to soaring inflation and a volatile Maintenance on a The work to ing campaign to crush Hamas.
currency market.
regasification unit continue for Gaza’s health ministry said at
to start 1 Nov two months
The gas shortage looms as a formidable challenge for entrepre- least 5,791 Palestinians have been
neurs serving local as well as global markets. killed in the strikes on the Hamas-
The impact of this acute gas scarcity goes beyond business; ruled enclave since 7 October, in-
TBS Insights by

Gas supply in National grid

home kitchens stay out of service as the stoves remain unlit, while Chattogram received cluding 2,360 children.
CNG filling stations in Dhaka and Chattogram struggle to refuel the already 12% 237mmcfd of Israel said it had killed dozens
growing line of vehicles. down for 3 days gas on 23 Oct of Hamas fighters in the overnight
The situation is worsened by the impending maintenance work strikes on the besieged enclave but
on one of the two LNG regasification units (Excelarate) set to com- said its war to destroy the Islamist
mence on 1 November and continue for at least two months. The LNG input to Petrobangla owes group would take time.
impact from this maintenance is expected to aggravate the short- national grid down LNG suppliers As aid agencies warned that a
age until January of the coming year. 200mmcfd $150m humanitarian catastrophe was un-
However, authorities believe the situation can be handled with folding in Gaza, French President
the existing supply if the demand for gas  I SEE PAGE 4 COL 3 Emmanuel  I SEE PAGE 2 COL 1
2 WEDNESDAY 25.10.2023

NEWS THE BUSINESS STANDARD

Durga Puja ends

with immersion
of goddess
tik and Ganesh – through the immer-
FESTIVAL – BANGLADESH
sion of their idols, wishing Durga’s
return next year.
UNB
As part of the main rituals of
Durga Puja, the biggest festival of Dashami Puja celebrations, female
Bangalee Hindu community, ended devotees offered vermilion at the
on Tuesday with the immersion of feet of Durga at mandaps and tem-
the idols of Goddess Durga and her ples across the city, which is part of
children in water bodies across the the traditional “Shidur Khela”. The
country amid festivity. ritual follows Hindu women putting
According to Hindu belief, the vermilion on each other, wishing for
goddess Durga has returned to her prosperity in lives, as a tribute to the
husband’s house at Kailash in De- power of Goddess Durga.
valoy (heaven) through immersion. In Bangladesh this year, the re-
In the capital, thousands of ligious festival was celebrated at
people thronged the Buriganga some 32,407 puja mandaps spread
River in the city’s Bosila area yes- throughout the country, including
terday to observe the final phase 248 in capital Dhaka.
of the festival – immersion of the The five-day festival started on 20
goddess. October with incantation (Bodhon),
Hindu devotees from different marking Sashthi.
parts of the city came to the ghat in Durga Puja, the annual Hindu
trucks carrying idols while singing festival also known as Sharadiya
hymns to Durga with the sounds (autumnal) Durgotshob, is the wor-
of musical instruments such as ship of "Shakti" [divine force] em-
‘Shankha’, ‘Khol’, ‘Dhak’. bodied in goddess Durga.
Devotees were seen bidding fare- It symbolises the battle between
well to the mother deity and her good and evil where the dark forces One of the many idols of the Hindu Goddess Durga is taken for immersion in the Buriganga River in Basila, Dhaka on the last day of the four-day
children – Lakshmi, Saraswati, Kar- eventually succumb to the divine. grand festival celebrated by the Bangali Hindu community throughout Bangladesh. The photo was taken on Tuesday. PHOTO: SYED ZAKIR HOSSAIN

Has there ever US ‘closely monitoring’ lead-up BNP will be resisted Ansar bill part
been a fully CONTINUED FROM PAGE 1
are able to participate peacefully,”
ty only plans to hold a rally in Dhaka
on 28 October, and that they do not if it tries to create of govt move
favourable US Department of State Spokesper- intend to stage sit-ins on the streets. to politicise the
environment
son Mathew Miller told reporters
during a regular briefing in Wash-
On the other hand, Informa-
tion Minister Hasan Mahmud said
anarchy: Quader force: Fakhrul
ington on Monday. That includes, Dhaka streets will be under Awa- Dhaka siege will fall flat, alleging that
for fair polls? he said, government officials, law
enforcement, political parties, the
mi League’s control on that day.
Dhaka Metropolitan Police (DMP)
they are now out to destroy the coun-
try’s democracy. Claiming that the
Commissioner Election Commission, the media,
and of course voters themselves.
Commissioner Habibur Rahman
on Saturday said the DMP will take
Awami League wants peace, he said
the BNP would not have been able
Habib asks “And we will continue to call on
all stakeholders to respect the rule
decisive action against anyone at-
tempting to incite violence during
to hold a single rally if the Awami
League wanted chaos.
ELECTION – BANGLADESH of law and to refrain from violence, the BNP rally. Quader said the BNP’s move-
harassment, and intimidation,” US Spokesperson Miller also ment reached the brink of ditch
TBS REPORT said the State Department spokes- said under the Vienna Convention, due to its wrong politics.
person. Bangladesh has obligations to take He said the Awami League will
A fully favourable environment Earlier on Sunday, US Ambas- all appropriate steps to protect dip- hold a peace and development rally
for conducting free and fair polls sador to Bangladesh Peter Haas lomatic mission premises and per- POLITICS – BANGLADESH on 28 October and urged party lead-
is not always possible, said Elec- referred to the importance of sonnel. ers and workers to make it a success. POLITICS – BANGLADESH
tion Commissioner Brigadier “peaceful demonstrations” and The United States values its BSS Meanwhile, Home Minister Asa-
General (retd) Ahsan Habib Khan “interference-free” participation relationship with Bangladesh, he duzzaman Khan Kamal yesterday TBS REPORT
yesterday. in the political process during his said, adding, “We expect the gov- Awami League General Secretary said the BNP will get permission to
Responding to a concept paper meeting with Home Minister Asa- ernment will take all appropriate Obaidul Quader yesterday warned hold a rally on 28 October if they BNP Secretary General Mirza Fakhrul
sent to media editors by the chief duzzaman Khan at the Secretariat. actions to maintain the safety and that the BNP would not be spared promise not to be engaged in anarchy. Islam Alamgir yesterday alleged that
election commissioner about elec- BNP Secretary General Mirza security of all US missions and dip- if it tries to resort to anarchy on 28 “If the BNP promises not to engage in the government has brought the An-
tion environment, Habib said, Fakhrul Islam Alamgir said their par- lomatic personnel in the country.” October. anarchy and terrorist activities in the sar Battalion Bill, 2023 as part of its
“The concept paper stated that a “The Awami League will allow name of a rally on 28 October, they move to politicise the force.
favourable environment was ex- the BNP to hold its rally on 28 Oc- will be allowed to hold a rally,” he “We condemn it and demand the
pected. Is there always a favoura-
ble environment for voting? Look
Bangladesh to enjoy trade benefits tober if the party does not try to
create chaos in the country on that
said while addressing a rally on the
occasion of the opening ceremony of
withdrawal of the bill. We strongly
demand that this bill is not passed in
at the polls in the past. Was the CONTINUED FROM PAGE 3 LDC priorities.” day,” said Quader, also the road Asaduzzaman Khan Kamal Complex any way,” he said, reports UNB.
environment always conducive?” a transition period of 6 to 9 years. The chair of the General Coun- transport and bridges minister. Library and Madhubagh ground at “The bill was placed in parlia-
Speaking to reporters at the LDC graduation refers to the point cil, Ambassador Athaliah Lesiba He came up with the remarks Moghbazar in the city. ment yesterday [Monday]. It is not
Election Commission building on when an LDC meets certain United Molokomme of Botswana, said: “I while speaking at an extended meet- Kamal said, “I believe the po- only a cause of serious concern, but
Tuesday, Commissioner Habib ad- Nations development criteria and is would like to congratulate all mem- ing of the Dhaka South City unit of lice commissioner will assess their also a matter of panic. This is how
dressed the issue of coordination no longer defined as an LDC. As the bers, in particular the LDCs, on this the Awami League at the party’s commitments and subsequently they [govt] are destroying the entire
between election commissioners most vulnerable members of the in- successful outcome. Let me also Bangabandhu Avenue central office grant permission.” state system and the institutions,”
as some had said the concept note ternational community, LDCs are ac- express my appreciation to all mem- in the capital. Pointing out that no He said people have been talk- Fakhrul said.
did not reflect their views. corded special treatment at the WTO, bers, as well as the current and for- government can be toppled through ing a lot about the 28 October rally, He said the police are the only in-
“But you are pitting one com- such as enhanced market access op- mer LDC Group Coordinators and the a movement setting a specific time- adding, “I think the BNP will hold stitution all over the world that has
missioner against another. Of portunities and flexibility in adopting Focal Point for LDC Graduation, for frame, he said Prime Minister Sheikh a rally peacefully.” the power to arrest offenders. “But
course, I think they are right in WTO rules. their tireless efforts and pragmatism Hasina repaired the country but the The home minister said the BNP Ansars, who don’t even have basic
saying that the expected environ- The decision encourages WTO to bring this issue to a close. This is BNP destroyed it. has lost public support due to the training, will be given that power
ment has not yet been created. members that remove countries from commendable and inspiring, and The Awami League general sec- occurrence of militancy and terror- here [in Bangladesh].”
This happens every time; not eve- their duty-free and quota-free prefer- hopefully puts the work and discus- retary said BNP’s colourful dream of ism during their regime. The BNP leader said policing is a
ryone has such courage,” Ahsan ence programmes upon graduation sions that lie ahead of us, today and different thing and the force is run
Habib said. Earlier, the Election from the LDC list to provide a smooth tomorrow, on a positive trajectory.” under several laws, rules, and a dif-
Commission in a concept paper
on 19 October said the political
and sustainable transition period for
the withdrawal of these preferences
Ambassador Kadra Ahmed Has-
san of Djibouti, coordinator of the
How Pathao stays the lone ferent code of conduct while the role
and activities of the Ansar force are
impasse prevailing in the coun- after graduation. It marks an impor- WTO Group of LDCs, said the deci- CONTINUED FROM PAGE 3 Asked about Pathao’s future different and it is run by a different
try means that the environment tant contribution to the implementa- sion will provide “some measure of and affordable for them, market plans, Ahmed said, “Fintech has institution.
needed for a free, fair, inclusive, tion of the Doha Programme of Action predictability and trust for those of share will follow,” said Ahmed, who our focus now. We deliver more Fakhrul said the late president and
and participatory election has not for LDCs for the period 2022-2031. our members on the road to gradua- joined Pathao in 2018 as the CFO. than one lakh orders a day, and BNP founder Ziaur Rahman modern-
yet been created. Welcoming this achievement, tion and further integrating into the As a result, in a dry funding 97% are cash on delivery. This pro- ised the Ansar force during his rule.
“The major opposing parties WTO Director-General Ngozi Okonjo- trading system.” landscape, the start-up, which will vides a foundation for introducing Meanwhile, the party’s Senior
remain steadfast in their posi- Iweala said: “LDC graduation is an There are currently 46 LDCs, of soon celebrate its eighth anniver- digital payment and embedded Joint Secretary General Ruhul Ka-
tions, resorting to street demon- important sign of development pro- which 16 are at different stages of the sary, is managing fine without rais- finance services to these e-com- bir Rizvi yesterday said although
strations to garner support and gress. Today, WTO members reaf- graduation process. Of these, ten are ing funds as its own cash flow is merce and f-commerce merchants the police had already made a large
display their strength. However, firmed their commitment to helping WTO members (Angola, Bangladesh, sufficient for it to thrive. The start- that can serve their working capital number of arrests of BNP leaders
the commission does not believe smooth this process for graduating Cambodia, Djibouti, Lao People’s up has raised $50 million so far. needs and help grow their busi- and activists, the Ansar is also being
this is the anticipated solution to LDCs to prevent any loss of the eco- Democratic Republic, Myanmar, Ne- In 2022, the company logged in nesses. When their business grows, given similar powers now because
the crisis,” reads the paper. nomic growth and development mo- pal, Senegal, Solomon Islands and revenue of $14 million, according so does ours.” the government is still worried over
Some of the election commis- mentum that had propelled them to Zambia) and four (Bhutan, Comoros, to Rest of the World, a New York- Pathao is working to roll out its their own fate.
sioners expressed their opinion graduation. Sao Tomé and Principe, and Timor- based tech-focused news publica- mobile wallet, Pathao Pay, and has Terming the decision “unprec-
against it. “This decision is a significant step Leste) are negotiating their terms of tion founded by Sophie Schmidt, also applied for a digital bank li- edented” at a press conference at
Two election commissioners said towards addressing the particular entry into the WTO. the daughter of former Google CEO cence from the central bank. the party’s central office in Nayapal-
the concept paper was purely the challenges graduating LDCs face, The other two LDCs on the gradu- Eric Schmidt. “Just like we have transformed tan, the BNP leader said, “Through
Chief Election Commissioner Kazi and will help people from these coun- ation path are Kiribati and Tuvalu. Earlier this month, Rest of the urban transformation and logistics this development, the people of
Habibul Awal’s personal views. tries tap into the opportunities that The Doha Programme of Action for World picked Pathao as one of the services, a digital bank licence for Bangladesh are finally going to be
The CEC’s statement was international trade brings. It also is LDCs calls for 15 more LDCs to meet top 40 global technology firms that the platform can revolutionise the imprisoned in the Awami concentra-
sought on this matter, but he re- another welcome sign that the wider the graduation criteria by the end of are outperforming their Western financial sector in Bangladesh,” he tion camp. Now Ansar is being used
fused to speak to the media. WTO membership is responding to the decade. counterparts. added. against the pro-democracy people.”

Israel kills 700 Palestinians in overnight strikes

CONTINUED FROM PAGE 1 humanitarian operation,” said Rick hand her over so they could bury her. shelter elsewhere in the territory. out of fuel or were damaged by Is- conflagration poses risks to US inter-
Macron flew to Israel to offer it sup- Brennan, WHO regional emergen- “This is my girl, I want to see her Food, clean water and medicine raeli bombing, the health ministry ests and to security in a region cru-
port. He told Prime Minister Benja- cies director. UN agencies say they as much as I can,” the shocked fa- and fuel are fast running out. Resi- spokesman said. cial to global energy supply.
min Netanyahu that France stood have no assurances their aid work- ther said in the city of Khan Younis. dents said several people were killed The ruling emir of Qatar, which
“shoulder to shoulder” with Israel in ers will be safe to reach those in Hamas on Monday freed two Is- or wounded when an Israeli missile hit No green light has tried to mediate between Israel
its war with Hamas while also saying need. But there appeared to be little raeli women who were among the a petrol station in Khan Younis, where Foreign governments have ex- and Hamas, urged the international
it must not fight “without rules”. prospect of a ceasefire any time soon more than 200 hostages taken dur- people who fled the eastern side of the pressed concern the conflict could community to rein in Israel in its
The United Nations urged Israel to in the bloodiest episode in the Israe- ing the assault. They were the third city were gathered to charge their de- ignite the whole of the Middle East. fight against Hamas.
allow more aid into Gaza, saying the li-Palestinian conflict in decades. and fourth hostages to be released. vices and fill water canisters. Already clashes have taken place in “We say enough. Israel shouldn’t
aid let in so far met a tiny fraction of After his daughter was killed in an Wide areas of Gaza have been “They bombed them in their the Israeli-occupied West Bank and be granted an unconditional green
the needs of the beleaguered popula- air strike in southern Gaza, Abdallah flattened by Israeli bombs with sleep,” said Abdallah Abu Al-Atta, along the Lebanon-Israel border. light and unrestricted authorisation
tion. Fuel, still blocked, was crucial. Tabash refused to let her go, holding buildings reduced to piles of rubble who lives by the petrol station. Fears of regional escalation have to kill,” Sheikh Tamim bin Hamad
“We are on our knees asking for her body in his arms. Blood stained her and twisted metal, forcing more More than 40 medical centres focused on Iran’s network of proxies Al-Thani said in a speech to Gulf
that sustained, scaled up, protected face and hair as people begged him to than one million residents to seek stopped operations after they ran in Syria, Iraq and Yemen. Any wider state’s Shura council.

Editor: Inam Ahmed. Publisher: Sharier Khan. Printed by The Times Printing Press Ltd., 7/A/1, Tejgaon Industrial Area, Dhaka-1208 on behalf of Horizon Media and Publications Limited, Swid Bhaban, 4/A, Eskaton Garden, Dhaka-1000.
Registration No. DA 6494. Vol. V. No. 12 Tel: 01847416158. email: [email protected]. Web: tbsnews.net, For advertisement, contact: 01847416158 or [email protected] I For subscription: 01749765696
THE BUSINESS STANDARD

NEWS WEDNESDAY 25.10.2023

3
How Pathao stays the lone profitable start-up that customers love and are happy to This does not mean Pathao’s oth-
PATHAO WINS IN STARTUPS’ TOUGH TIME START-UP – BANGLADESH
pay for,” Fahim Ahmed, managing
director and CEO of Pathao, told The
er two verticals – ride-hailing and
food delivery – are lagging behind.
MAHFUZ ULLAH BABU
Business Standard in an exclusive Both the verticals are profitable too,
Each business Each business Market leadership in In Bangladesh’s challenging start- interview last week. making it the only profitable opera-
profitable since growing, gaining ride hailing and food up ecosystem, Pathao is a rare suc- This is best captured by Pathao tion in those segments.
mid-2022 market share delivery in Nepal cess story: it achieved profitability, Courier, which saw its business Asked the recipe behind the suc-
which is considered the holy grail for grow more than six times in the last cess, Ahmed said, “Right product
CEO ATTRIBUTES SUCCESS TO TRANSFORMATIONS start-ups anywhere nowadays. two years, even without offering dis- for the right people, providing more
Pathao reached profitability in counts or pursuing higher volumes. value to them in an affordable man-
Right products More value to Justified costs A strong internal mid-2022, while its competitors were Today, Pathao Courier is delivering ner, justifying each cost for financial
for right customers for firm’s ecosystem either scaling down or exiting the around 1 lakh parcels a day, which ac- sustainability, and a strong internal
people sustainability market due to the investment and counts for half of the 3PL market, and ecosystem that includes a strong
consumption slowdown brought on this growth occurred while one of its technology backbone.”
75% by the Ukraine war. competitors, Paperfly, shut down and In the food delivery segment,
Ironically, the catalyst for the another, RedX, downsized. which is seeing a decline globally,
PATHAO GAINS 65% remarkable feat was the pandemic, And Pathao Courier accom- Pathao Food’s market share grew
60%
MARKET SHARE We build
which prompted the start-up to
make a big bet: greater attention to
plished this without serving Daraz,
the largest e-commerce platform in
from 25% in 2021 to 35% at present.
“A good match between customer
(% of service volume) 50% products that logistics service. the country. acquisition cost (CAC) and the life-
customers love The start-up, with over one crore Thanks to its reliable and timely time value (LTV) generated there is
Bike ride hailing 35% 35% and are willing app users, anticipated that the de- service at both ends, Pathao has be- important.”
to pay for. mand for online shopping would blow come the logistics partner of choice It is the same case for ride-hail-
Courier 25% up in areas beyond the capital. Con- for the lakhs of e-commerce entre- ing, where it has a 75% market share
20% 35%
sequently, it invested in establishing preneurs in Bangladesh, accord- in bikes and 35% in cars.
Food delivery
Fahim Ahmed a nationwide infrastructure for third- ing to Ahmed, who took charge of “We don’t think in terms of mar-
Car ride hailing
20% party logistics (3PL) courier services. Pathao in 2021. ket share, but instead in terms of
MD & CEO,
10% 8% “Many start-ups say they love to Now over two-thirds of Pathao providing value to the customers. If
Pathao build products; some say they love to Courier parcels are delivered outside we can deliver what they actually
2019 2021 2023 build products that customers love, Dhaka, which was less than half two need in a manner that is financially
and we say we love to build products years ago. sustainable for us  I SEE PAGE 2 COL 4

Bangladesh to enjoy trade Ctg Custom House to secure

benefits beyond 2026 as access with digital cards
WTO agrees to aid LDCs PORT – CHATTOGRAM The Custom House’s vulnerability
to unauthorised access was spotlighted
when two youths were apprehended at-
After 15 November, the Custom House
will be inaccessible without proximity
cards, it further said.

after graduation
SHAHADAT HOSSAIN CHOWDHURY
tempting to hack its software in Febru- Md Bodruzzaman Munshi, deputy
Clearing and Forwarding ary this year.
As a response, “Proximity Card Sys-
commissioner of Chattogram Custom
House, said the initiative is aimed at pre-
TRADE – BANGLADESH
Initially, Bangladesh sought a 12-year ex- Agents Association is tem Gates” will be installed at four en- venting ID-password fraud and server
tension of duty-free market access from the trances of the Custom House building in hacking attempts and thereby ensuring
TBS REPORT
WTO following its anticipated graduation funding the security November at a cost of Tk20 lakh. a secure work environment.
from the LDC status in 2026. This extended The Chittagong Clearing and For- He mentioned, though, that access
Bangladesh will be able to enjoy trade ben- period was intended to facilitate a seamless system warding Agents Association is funding without an ID card will still be possible
efits beyond its graduation from the least- transition for LDCs, ensuring the continuation the security system. with a Customs Visitor Pass.
developed country (LDC) bracket in Novem- To enhance security against unauthor- In a notification on 17 October, the “As the customs house does not have
ber 2026 after the World Trade Organization ised intrusion, the Chattogram Custom Chattogram Custom House asked all the fund, the C&F association is paying
(WTO) decided to extend support measures House is installing digital security de- stakeholders, including C&F agents and for the system as part of its corporate so-
for graduating countries. The decision will vices on four entrances, accessible ex- shipping agents, to apply for their prox- cial responsibility,” he further said.
The decision was made at a meeting of the
WTO General Council on 23 October. Senior facilitate a seamless clusively via access cards. imity cards by 31 October. Customs officials  I SEE PAGE 4 COL 1

officials gathered at the WTO headquarters and sustainable

in Geneva on 23-24 October for a meeting
aimed at making preparations for the 13th transition for
WTO Ministerial Conference, scheduled for graduated LDCs.
February 2024 in Abu Dhabi.
“This is a very important decision for .....
Bangladesh and fellow LDC graduates,” said PROF MUSTAFIZUR RAHMAN
Prof Mustafizur Rahman, a distinguished fel- DISTINGUISHED FELLOW, CENTRE FOR
low at the Centre for Policy Dialogue (CPD) POLICY DIALOGUE
and an expert in trade matters. He said the
decision will facilitate a seamless and sus-
tainable transition for graduated LDCs.
However, Prof Mustafiz noted that the deci- of LDC-specific preferences and provisions
sion of the WTO General Council did not provide within WTO agreements post-graduation.
a definitive timeframe regarding the duration of Subsequently, the proposal was revised to
duty and other benefits for LDCs following grad- a range of 9 to 12 years. Also, Chad, a central
uation. He guessed that this issue might find African nation, put forth a more condensed
clarity during the Abu Dhabi conference. proposal, suggesting  I SEE PAGE 2 COL 2

Bangladesh most investment-

friendly, promising: Hasan
Talha, France-Bangladesh Business Council
INVESTMENT – PARIS
President Pierre-Jean Malgouyers, among others,
addressed the function.
BSS
The minister said the per capita income has
Information and Broadcasting Minister Hasan also increased and even the per capita income of
Mahmud has urged global investors to invest in about five crore people is now $5,000. The num-
Bangladesh as it is the most investment-friendly ber of people will be increased to 7 seven crore in
and promising country. the next decade, said Hasan, also Awami League
“Bangladesh is now becoming the most in- joint general secretary.
vestment-friendly and promising country for its Ambassador Marie Masdupuy said Paris
infrastructure development and other facilities is thinking of investing in different sectors of
including development of sea and river ports, Bangladesh.
inter-country rail and road communications,” French President Emmanuel Macron visited
Hasan said, mentioning that Bangladesh has Bangladesh one and a half month ago, she said,
achieved incredible growth in all sectors in the adding, during the visit, the two countries dis-
last 15 years under the dynamic leadership of cussed the interest of the two states.
Prime Minister Sheikh Hasina. BSEC Chairman Shibli said France is one
The minister made the remarks addressing the of the biggest markets in the world. The aim
inaugural session of the three-day Bangladesh- of the summit is to provide accurate infor-
France Trade and Investment Summit at Inter- mation about Bangladesh for this market as
continental Hotel in Paris, France on Monday, France considers Bangladesh as a partner,
said a release received here yesterday. he added.
Adviser to the Prime Minister on Private In- Pierre-Jean Malgouyers said a business dele-
dustry and Investment Salman F Rahman, gation will visit Bangladesh in February or March
Bangladesh Securities and Exchange Commis- next year. They will decide to invest in different
sion (BSEC) Chairman Shibli Rubayet-Ul-Islam, sectors after the visit, he added.
French Ambassador to Bangladesh Marie Mas- BSEC and Bangladesh Investment Develop-
dupuy, Bangladesh Ambassador to France M ment Authority (BIDA) organised the summit.

of the Bangladesh-India
ENERGY – BANGLADESH
Friendship Power Compa-
ny Limited, on Tuesday.
Rampal power TBS REPORT
The second unit of the coal-
On 17 December 2022,
the first unit of the thermal
plant’s second based Rampal Thermal
Power Plant in Bagerhat
power plant started opera-
tions.

unit begins began power generation on

a trial basis yesterday.
Despite several closures
since then, the power
It will generate 400MW plant’s first unit is current-
trial run of electricity at the begin-
ning of the trial produc-
ly operational.
The power generation
tion, said Anwarul Azim, capacity of the two-unit
deputy general manager power plant is 1,320MW.
4 WEDNESDAY 25.10.2023

NEWS THE BUSINESS STANDARD

RAB arrests 4 Gas crisis worsens with payment delays to suppliers

CONTINUED FROM PAGE 1 Tapan Sengupta, deputy man- kitchen.
Patuakhali-1
by-election on
members of online
in the power plants decreases in aging director of BSRM Group, Aminur Rahman, general man-
the winter months.
Engr Md Kamruzzaman Khan,
noted that production is being
continued with furnace oil due to
ager of Karnaphuli Gas Distribu-
tion Company Limited, said there is
26 November
director (operation and mines) of a gas shortage resulting in a nearly a daily demand of 325mmcfd of gas

gambling racket Petrobangla, said it was not possi-

ble to supply enough gas to every-
one due to the restart of production
at a new fertiliser factory and not
threefold cost increase compared
to gas. If gas supply remains dis-
rupted, the financial impact will
continue to rise.
in Chattogram but only 290mmcfd
is available since Saturday.

Import payment delay

ELECTIONS – PATUAKHALI

TBS REPORT
country's young population. RAB has getting enough imports from the The ceramics industry also fac- hits gas supply
CRIME – BANGLADESH
previously apprehended individu- spot market. es critical issues with gas pressure Till the first half of this month, to- The Election Commission (EC) will
als involved in money laundering “Besides, we are involved in dropping from the required 12psi to tal gas supply in the national trans- conduct the by-election in the va-
TBS REPORT
through offshore online gambling maintenance work of a regasifica- 4-5psi during peak hours. mission grid was 2,900mmcfd, cant Patuakhali-1 constituency
The Rapid Action Battalion (RAB) has platforms and brought them to jus- tion unit. It will be difficult to nor- Md Shirajul Islam Mollah, pres- including around 800mmcfd im- for the 11th National Parliament
arrested four members of an online tice. The Cyber Monitoring Team of malise the situation before the end ident of the Bangladesh Ceramic ported LNG. on 26 November.
gambling racket, including Nishat RAB Forces maintains a continuous of the work,” he added. Manufacturers and Exporters As- However, total gas input in the Md Jahangir Alam, the EC
Munna, the ringleader who amassed vigil on cyber activities to apprehend sociation, stated that 15% of ceram- transmission grid started to decline Secretary, made this announce-
Tk5 million through various online those engaged in money laundering Disruption at industrial plants ic production costs are the direct from last week as supply from spot ment regarding the by-election
betting sites that were operated from abroad through online gambling. The supply of gas in Chattogram result of gas cost, and an uninter- cargo ran out. schedule after the commission's
abroad. "The arrestees have confirmed has decreased by about 35mmcfd rupted 24-hour supply is essential On 23 October, total gas supply meeting at Nirbachon Bhaban on
The arrests took place in Gazipur's their involvement in online gambling or about 12% over the last three for furnace operation. dropped down to 2,663mmcfd where Tuesday.
Sreepur upazila and Malibagh in the during primary interrogation," he days, resulting in disrupted pro- Gas pressure fluctuations lead LNG input was only 600mmcfd. According to the detailed
capital during a joint operation of the added. duction in industries, however, the to immediate product losses, he Md Rafiqul Islam, managing di- schedule, the deadline for the
Rapid Action Battalion Intelligence The gang had reportedly been op- ready-made garment sector is the said. rector at Rupantarita Prakritik Gas submission of nomination papers
Wing, RAB-1 and RAB-11 held Mon- erating various online gambling sites worst-hit. “A 48-72 hour furnace restart Company, a state-owned company is set for 1 November, the scrutiny
day night. in Bangladesh for the past one-and- Many industries, both small time is resulting in production de- that deals with LNG import, told of nomination papers will occur
The joint operation led to the ar- a-half years. and large, have switched to alter- lays, order cancellations, and local The Business Standard that only on 2 November, the deadline for
rest of one of the masterminds, Ni- Under the leadership of Nishat native fuels due to a significant rise market disruptions. Additionally, one cargo of LNG was received withdrawal of nominations until
shat Munna, 20, in Gazipur, along Munna, a key figure in the domestic in gas prices, resulting in a more equipment damage is a growing early this month. 9 November, symbol allocation
with three accomplices Kamrul Islam operations of these offshore gam- than twofold increase in fuel costs. concern,” he added. However, he could not say on 10 November, and voting on
Shubo, 27, Suman, 35, and Nazmul bling sites, seven to eight members This, in turn, has led to a decline There are also fears of machin- whether they would import more 26 November.
Hossain Babu, 31. promoted these sites in different re- in the production of ready-made ery faults due to gas pressure fluc- cargo this month to meet the de-
At the time, 16 mobile phones, 18
SIM cards, one CPU, and one monitor
gions of Bangladesh.
Their activities included open-
garments.
Rakibul Alam Chowdhury, vice
tuations and abrupt supply cuts
without prior notice, said Moham-
mand.
Generally, the country imports
AL-led 14-party
were seized from their possession.
RAB's Legal and Media Wing
ing accounts, conducting financial
transactions via mobile banking,
chairman of Bangladesh Garments
Manufacturers and Exporters As-
med Amirul Haque, managing di-
rector of Premier Cement Mills.
two to three cargoes of LNG from
the spot market in addition to reg-
alliance to hold
Director Khandaker Al Moin high-
lighted the growing issue of rising
and sending money to neighbouring
countries through informal channels.
sociation, said garments orders for
Christmas are nearing completion Low flame stoves
ular supply from Oman and Qatar
under long-term contracts.
rally in Dhaka
addiction to illegal online gambling
platforms among the country's youth
The gang primarily targeted the
country's youth, with a focus on ma-
and are set to be shipped shortly.
“However, a three-day factory
at homes
Residential gas consumers in the
Through both sources — spot
and long-term — Petrobangla used
on 30 October
while briefing reporters on Tuesday. jor sporting events such as the Foot- shutdown, caused by a gas short- capital and port city are grappling to inject around 800mmcf gas per
He said, "These days, an increas- ball World Cup, Cricket World Cup, age, is a major concern. Any fur- with diminishing gas supply, nota- day to the national grid to maintain POLITICS – BANGLADESH
ing trend of online gambling ad- IPL, BPL, various football leagues, ther interruptions in production bly a decline in gas pressure after a supply of around 3,000mmcf.
diction can be noticed among the and other sports. will result in a severe crisis,” he 5am. The authorities, however, are TBS REPORT
noted. This issue has led to low flame now cutting the spot share due to
Mohammed Shamsul Azam, di- stoves making cooking difficult. the dollar crunch needed to make The Awami League-led 14-party

3 US doctors coming to rector of BGMEA, highlighted the

loss of colour quality in garment
Many households in the Secretar-
iat and the Segunbagicha areas in
import payments.
As of 23 October, Petrobangla
alliance has announced a rally in
the capital on 30 October aiming
products during low gas pressure, Dhaka can not complete cooking owes its LNG suppliers $150 million, to demonstrate support for con-
Dhaka to treat Khaleda Zia necessitating the costly use of al-
ternative fuels and risking signifi-
meals.
Similar complaints poured in
said officials of the state-owned oil,
gas and mineral corporation.
ducting the upcoming general
election in accordance with the
ment permitted the foreign doctors cant financial losses if the gas cri- from areas like Mohammadpur, Additionally, its outstand- constitution and to raise protests
HEALTH – BANGLADESH
to come in for the BNP chairperson's sis in Chattogram persists. Panthapath, Kathalbagan, Kalaba- ing payments to international oil against the "BNP-Jamaat anar-
treatment, following her medical BSRM, the country’s leading gan, Mirpur, Old Dhaka, Jatrabari, companies, particularly Chevron, chy".
TBS REPORT
board's request. steel manufacturer, has a daily Mugda, Manda, and Badda, as re- engaged in gas production from lo- This decision was made dur-
Three doctors from the United States' Earlier yesterday, Khaleda Zia rod production capacity of 5,500 ported by the Titas Gas Transmis- cal fields, have now reached $219 ing a meeting of the 14-party al-
Johns Hopkins Hospital will arrive was shifted from the Coronary Care tonnes in its two factories. The sion and Distribution Company’s million. liance convened at the residence
in Dhaka to treat BNP Chairperson Unit (CCU) to her cabin at the Ever- production capacity of four billet emergency complaint centre. When asked, Md Kamruzzaman of the alliance's Coordinator and
Khaleda Zia – who is currently un- care Hospital. factories is more than 6,000 tonnes In Chattogram, residents are Khan of Petrobangla said there is Spokesperson Amir Hossain Amu
dergoing treatment at the Evercare She was brought back to the cab- per day. also facing trouble with cooking a significant amount owed to long- in New Eskaton of the capital on
Hospital in Dhaka. in around 11:30am on Tuesday, said According to the company, the due to a continuous gas crisis over term and spot market LNG suppliers Tuesday.
BNP media wing member Shairul BNP press wing official Shamsuddin production is already lower than the past three days. and international oil companies in- Following the meeting, Amir
Khabir Khan said they are expected Didar. Her physical condition de- the production capacity due to Madhuri Mumtaz, a resident cluding Chevron and Tullow. Hossain Amu told the media that
to arrive in Dhaka today. teriorated early yesterday morning shortage of raw materials. There is of Rangi Para in Chattogram, ex- “Some spot market LNG sup- the 14-party alliance stands pre-
Law Minister Anisul Huq told the and she was shifted to the CCU as a fear of further reduction in pro- pressed extreme discontent as she pliers are now unwilling to supply pared to thwart both national and
media yesterday that the govern- advised by her medical board. duction due to gas shortage. has to spend more hours in the further,” he added. international conspiracies.

Ctg Custom Cyclone Hamoon weakens, makes landfall with gusty winds, heavy rainfall
House to CONTINUED FROM PAGE 1
The local administration in the
secure southern district mobilised extensive
efforts to deal with the cyclone with
CONTINUED FROM PAGE 3 the government relocating at least 15
said once the digital gates are lakh people to shelters.
installed, customs integrity As per the Met office, the cyclone
will be maintained, barring is moving towards the Chattogram
unauthorised access. This will and Cox’s Bazar coasts at a speed of
enhance the efficiency and 25 kmph. Meteorologists believe that
comfort of customs officials the wind speed at the time of impact
and foster a better work envi- could be 70 to 90 kmph.
ronment. Imam Uddin, assistant meteorolo-
Chittagong C&F Agents As- gist of Cox’s Bazar meteorological
sociation First Joint-General office, said, “Around 20 mm rainfall
Secretary Md Golam Rabbani was recorded in the districts from
told The Business Standard 6am to 12pm on Tuesday. But now
that access control gates will the level of rain has increased. Wind
be installed at four places on speed has also increased.”
the ground floor entrance of Earlier, the Met office said the
the custom house. storm is likely to cross Bangladesh
“There is a plan to provide territory by 9pm-11pm Tuesday at
proximity cards to about 6,000 speeds ranging from 89 kmph to 117
people, including officials and kmph.
employees of the customs sta- The maritime ports of Payra and
tion, C&F agent owners and Chattogram have been asked to hoist
officials, importers and vari- danger signal no seven, for Cox’s Ba-
ous institutions and organisa- zar danger no six and five for Mongla.
tions,” he mentioned. The coastal districts of Barishal,
Patuakhali, Bhola, Barguna, Piroz-
Funding raise questions pur, Jhalakathi, Chattogram, Feni,
The Chattogram Custom Noakhali, Laxmipur, Chandpur and The Bay of Bengal has become increasingly turbulent on Tuesday as the severe cyclonic storm ‘Hamoon’ approaches the Bangladesh coast.
House collects revenue of over other offshore islands and chars will Officials of the district administration warn visitors at Patenga sea beach in Chattogram city to move away from the coast line to safety. The photo
Tk60,000 crore annually. Every come under danger signal number was taken on Tuesday afternoon. PHOTO: MOHAMMAD MINHAJ UDDIN
day, about 7,000 bills of entry seven.
and bills of export are filed at All fishing boats and trawlers over lotted to each district. Moreover, Tk1 danger signal no 7 for the district, to a wind-driven surge, elevating sea heavy rainfall since Tuesday morn-
the customs station. North Bay and deep sea have been crore has been allocated for baby prompting the suspension of ships levels by 3-5 feet above the normal as- ing, an initiative has been undertak-
However, the organisation’s advised to remain in shelter till fur- food and Tk1 crore for cattle feed,” on the Lakshmipur-Bhola-Barishal tronomical tide, as per the Met office. en in the hilly areas of Chattogram to
not being able to afford Tk20 ther notice. the minister said. route and ferries on the Lakshmipur- Around 8,800 volunteers from provide safe shelters for the residents.
lakh for the security system has Besides, the Bangladesh Inland Bhola route. 440 units operating under the Cy-
raised eyebrows among experts. Water Transport Authority (BIWTA) Preparation of local authorities As the cyclone approaches, the clone Preparedness Program are Ctg port issues alert 3,
They pointed to several un- has announced the suspension of all To face the catastrophe of the cy- Met office has issued Danger Signal actively engaged in these upazilas, relocates lighter vessels
scrupulous incidents involving types of water vessel services across clone, the deputy commissioners No-5 for the coastal areas of Satkhira. aiding in the relocation of vulnerable The Chattogram Port Authority is-
C&F agents, including bribing the country due to inclement weath- of the 10 vulnerable districts have Humayun Kabir, deputy commis- individuals to designated cyclone sued its own danger signal “Alert 3”
officials for tax evasion. er conditions caused by the cyclone. already organised meetings with all sioner of Satkhira, highlighted the shelters. yesterday as severe cyclonic storm
Advocate Akhtar Kabir the Upazila Nirbahi Officers (UNOs) availability of 300 shelters and 5,000 The Department of Health has Hamoon is approaching the coun-
Chowdhury, president of Govt moves 15 lakh concerned as per the Standing Order volunteers in the district. mobilised 290 medical teams to pro- try’s coastal areas.
the Concerned Citizens Com- people to shelters on Disaster (SOD) aiming to ensure Meanwhile, Cox’s Bazar’s ‘radar vide necessary assistance to those af- The port authority instructed that
mittee, told TBS that ac- State Minister for the Ministry of every possible preparedness meas- station’, a crucial installation for fected by the cyclone. all ships currently moored at the
cepting donations from C&F Disaster Management and Relief ure and reduce disaster risks. gathering advance warnings of vari- Deputy Commissioner of Chat- port’s jetty should be relocated to
agents is akin to promoting Enamur Rahman said yesterday the In Barishal, 541 cyclone response ous disasters, including deep-sea cy- togram Abul Basar Mohammad the outer anchorage following the
corruption. government has decided to take the centres have been established, along clones, is currently non-operational. Fakhruzzaman highlighted the enforcement of the alert.
“This incident has weak- people of the risk prone area to the with 61 medical teams and 322 tonnes Imam Uddin, assistant meteo- heightened vulnerability of Sand- At the same time, the unloading
ened the customs authority shelter as danger signal number sev- of rice, as reported by Barishal Dep- rologist at the Cox’s Bazar Regional wip Island, which is projected to be of goods from mother vessels at the
and may embolden fraudsters. en has been issued. uty Commissioner Shahidul Islam Office of DMD, explained that it has directly impacted by the cyclone. outer anchorage of Chattogram has
Failing to secure a mere Tk20 He added 74,020 volunteers of during a meeting at the district con- been out of commission for some “Across the district, 803 cyclone shel- been temporarily halted due to the
lakh is a significant lapse on cyclone preparedness programme ference room. time due to technical issues. ters are now operational,” he said. adverse weather conditions.
the part of the customs author- (CPP) are currently working in 3,701 The deputy commissioner also He added, “Weather information Fakhruzzaman assured that an Sources say 22 ships were sent
ities,” he observed. units of 355 unions under 41 upazilas disclosed an allocation of Tk936,000 is being received from other radar ample supply of oral saline, water into the deep sea from the port
Faizur Rahman, commis- of 13 coastal districts. in cash to address post-disaster sce- stations operational in the country. purification tablets, and dry provi- jetty on Tuesday afternoon from 4
sioner at Chattogram Custom “We have already allocated mon- narios. If the Cox’s Bazar radar was opera- sions have been secured and will be pm to 8 pm, one by one after the tide
House, declined to comment on ey for providing cooked food and In Lakshmipur, the district ad- tional, it would have been possible promptly dispatched to the respec- came in.
why the country’s largest cus- drinking water, food for children ministration has arranged 185 per- to provide more accurate data.” tive upazilas as per the requisitions Additionally, 66 bulk carrier ships
toms station is unable to pay for and cow fodder. A fund of Tk20 lakh manent and 100 temporary shelters. In Chattogram, the coastal areas provided by the UNOs. staying at the port’s outer anchorage
its security system. and 50 tonnes of rice have been al- The meteorological office has issued may be at risk of flash flooding due Meanwhile, due to the persistent were also sent to the deep sea.
 BUSIEST AIRLINES OF 2022

AIRLINE
Who Flew the Most Passengers? AMERICAN AIRLINES DELTA AIRLINES RYANAIR GROUP* UNITED AIRLINES SOUTHWEST AIRLINES LUFTHANSA GROUP
About 3 billion passengers travelled on commercial airlines
in 2022, with American Airlines at the top, flying 199.3 million
passengers. The airline’s most popular route was between
Dallas Fort-Worth (DFW) and Los Angeles (LAX), operating HEADQUARTER UNITED STATES UNITED STATES IRELAND UNITED STATES UNITED STATES GERMANY
more than 30 flights a day.
Meanwhile, Biman has carried around 31.9 lakh ANNUAL
passengers in the last fiscal year FY23. PASSENGERS 199.3M 171.4M 168.6M 144.3M 126.6M 101.8M
Source: Visual Capitalist via 2023 Allianz Partners Big Book of Travel Data *Financial year ended in March 2023

THE BUSINESS STANDARD

NEWS WEDNESDAY 25.10.2023

5
Train crashes: Prevention Dhaka-Ctg-Sylhet
rail link fully
ignored, results obvious restored
ACCIDENT — BANGLADESH dents, which obscures the real cause Tuesday, the Kishoreganj Civil Sur-
Probe bodies formed after previous accidents of accidents and makes it difficult to ACCIDENT - KISHOREGANJ
geon’s office said.
JAHIDUL ISLAM recommended installing CCTV cameras and automatic hold anyone accountable. However, the body of a 33-year-
When asked about disciplinary TBS REPORT
alarms at level crossings, and evicting illegal old man, who remained uniden-
A train hit a microbus in Chatto- structures around the railway line action against those responsible for tified, was kept at the morgue of
gram’s Mirsharai in July 2022, killing train accidents, Bangladesh Railway A mere 30-second Shahid Syed Nazrul Islam Medical
13 people. Two Railway probe com- Bangladesh Railway has not taken any significant steps Director General Kamrul Ahsan said College and Hospital.
mittees then recommended install- to implement these recommendations that there are precedents, but he wait could have saved Four separate committees have
ing CCTV cameras and automatic
alarms at level crossings, eliminating
could only provide one example: the
train accident at Mandbagh in Kasba
17 lives, Bhairab been formed to probe into the tragic
accident. Of those, the Railways Min-
Transport experts say inefficient top officials, outdated
the manpower shortage and evicting
signalling systems, outdated rolling stock, unprotected level
upazila of Brahmanbaria in Novem- station master says istry formed a 7-member probe com-
illegal structures around the railway ber 2019, in which 17 people died. mittee with Joint Secretary of Rail-
line to prevent future accidents. crossings, and lack of manpower are causing rail accidents According to the Bangladesh Train communication on the ways Ministry Hasan Mahmud as
Following another fatal train ac- Road Safety Foundation, 241 peo- Dhaka-Chattogram-Sylhet routes the convener and Deputy Secretary
cident at Khulshi in Chattogram in “The causes of railway accidents have been known ple died in 226 railway accidents in returned to normal after almost Towfiq Imam as the member secre-
December 2021, a probe committee for a long time, but there are few preventive the first 10 months of this year, and 14 hours of suspension following tary. It has been ordered to submit
recommended that Bangladesh Rail- measures in place.” 248 people were injured. Since 2018, the train accident in Kishoreganj’s the report within seven workdays.
way evict illegal structures around 1,116 railway accidents have killed Bhairab area that claimed 17 lives. Meanwhile, the Directorate
the Jhautala railway crossing to pre- Dr Shamsul Haque, 1,345 people. “All three damaged coaches of Fire Service and Civil Defence
vent future accidents. director of Accident Research Institute, Buet Saidur Rahman, executive direc- were removed from the railway formed the committee on Tuesday
However, the Bangladesh Rail- tor of the Bangladesh Road Safety track. Train services were fully re- and will be headed by fire service di-
way has not taken any significant On Monday, at least 17 people bir, secretary of the Ministry of Rail- Foundation, said that investigation stored around 5:30am on Tuesday,” rector Lt Colonel Mohammad Tajul
steps to implement these recommen- were killed and over 100 others in- ways, acknowledges that there is committees are rarely formed after Kishoreganj Deputy Commissioner Islam Chowdhury. The committee
dations, except for some superficial jured after two trains — Egarosind- rarely any accountability for railway railway accidents. Mohammad Abul Kalam Azad said. has been given five working days to
efforts to reclaim land. hur Express and a freight train — col- accidents. “Even when committees are The devastating accident, which submit the report.
Public transport experts said inef- lided in Bhairab of Kishoreganj. At a meeting to discuss how to formed, they often hold a few meet- resulted in 17 fatalities and left over a
ficient top officials, outdated signal- The Ministry of Railways and the prevent train accidents in August ings and then submit no report,” he hundred passengers injured, occurred “A 30-second wait could
ling systems, outdated rolling stock, Directorate of Fire Service and Civil last year, he told Bangladesh Rail- said. “Meanwhile, another accident when the Egarosindhur Express col- have saved 17 lives”
unprotected level crossings, and Defence have each formed an inves- way officials that they often promise happens and a new committee is lided with a freight train at Bhairab A mere 30 seconds. That’s all the
lack of manpower are causing rail tigation committee to probe the ac- to investigate accidents, but rarely formed.” station around 4 pm on Monday. freight train’s locomaster had to
accidents. cident. do so. He also commented on the Rahman said that railway acci- Following a six-hour suspension, wait to avert the disaster which
However, the authorities are do- Even before the probe commit- lack of coordination among railway dents are not decreasing because the rail communication was partially re- caused the deaths of 17 people,
ing nothing to establish safe rail- tees started working, Bangladesh officials. railway authorities try to cover up stored on one track around 10:30pm Kishoreganj’s Bhairab Railway
ways except to form probe commit- Railway suspended three railway At the same meeting, then-Direc- their mistakes by blaming low-level after a rescue train cleared the line. Station Master Md Yousuf said
tees after accidents occur. Most of officials: the locomaster, assistant tor General of Bangladesh Railways workers. “Rail accidents have now Sixteen people, out of 17 who yesterday.
the recommendations made by these locomaster, and guard of the freight Dhirendra Nath Mazumder said that become structural killings,” he said. died in the deadly train crash, were “The accident unfolded as a re-
committees are ignored, which is train involved in the collision. probe reports often reveal that one Accident causes were identified identified and their bodies were sult of the container train driver’s
why accidents continue to happen. Even Mohammad Humayun Ka- department blames another for acci- long ago  I SEE PAGE 6 COL 1 handed over to their families on reckless attempt  I SEE PAGE 6 COL 1

AL fears ‘violence’ ahead

of 28 Oct, gears up for
counteraction
POLITICS — BANGLADESH
AL will use social media platforms in its
REZAUL KARIM election campaign this time
The Awami League (AL) is deploying its grass-
roots leaders and activists on the streets of Dhaka It is preparing its election manifesto with
from tomorrow to prevent potential violence from a focus on attracting young voters
BNP-Jamaat supporters ahead of the opposition
rallies in the capital on 28 October. The candidate selection process for 300
The BNP will hold a mass rally at Nayapaltan parliamentary seats is at the final stage
on 28 October to press home its demands — res-
ignation of the government and general elections The party’s central leadership is also
under a non-partisan neutral government. Its ally
working to resolve factional conflicts
Jamaat-e-Islami also plans to stage a rally at Moti-
jheel on the day.
The BNP and Jamaat are reportedly bringing in In addition, AL central leaders are working to
their leaders and activists from different districts ensure that more than one million people attend
to Dhaka well ahead of their rallies. The ruling the “peace and development rally”, organised
AL fears that the opposition may use this oppor- by the party’s Dhaka Metropolitan North and
tunity to create anarchy and violence across the South units, at the south gate of Baitul Mukarram
capital in an attempt to force the government to mosque on 28 October.
meet their demands. In a meeting on Tuesday, Awami League
To counter the BNP-Jamaat movement, the rul- General Secretary Obaidul Quader told leaders
ing party has asked its leaders and activists in Dhaka and activists, “On 28 October, you must be on
and its surrounding districts to be vigilant and take the field to thwart the BNP’s attempt at unrest
positions on the ground in advance, AL sources said. at all costs.”  I SEE PAGE 6 COL 4

28 Oct rallies: BNP-Jamaat

activists start arriving
in Dhaka
dent fronts are also preparing extensively, he
POLITICS – BANGLADESH
also said.
“Some leaders and activists in the district have
JOYNAL ABEDIN SHISHIR
already left for Dhaka and about 3,000 leaders
BNP-Jamaat leaders and activists from various and activists from Panchagarh are preparing to
districts have begun to arrive in Dhaka ahead of leave by the 26-27th.”
the rallies in the capital on 28 October and they BNP Chairperson’s Adviser Mizanur Rahman
are staying at the houses of relatives to avoid ar- Minu told TBS, “One-fourth of the BNP leaders
rest and harassment, according to insiders. and activists from Rajshahi who will be attend-
Both the parties have instructed their grass- ing the grand rally in Dhaka have already arrived
roots to arrive in the capital early from fear that in the capital. By Wednesday, most of the lead-
the government may block transportation and ers and activists will arrive in Dhaka by bus and
create obstacles before the rally day and increase train. Only those who have urgent work will come
the number of arrests. to Dhaka on the 27th.”
Leaders and activists from distant districts are Kushtia District Jamaat Secretary Suja Uddin
reportedly arriving first in Savar, Gazipur, and Joardar told TBS, “Leaders and activists from
Narayanganj, which are close to Dhaka. Kushtia are going to Dhaka, more than ever. A
Panchagarh District BNP Convener Zahirul large number of them, whose relatives live in
Islam Kachchu told TBS, “We have made exten- Dhaka, have already left for Dhaka.”
sive preparations to make the rally a success. We Jamaat leader from Cumilla Yaseen Arafat told
will join the rally in any way possible. Everyone TBS, “We have not yet heard any major reports of
in Dhaka will be responsible for their respective leaders and activists being obstructed on the road.
duties.” If the situation remains normal, more than 30,000
The main party along with the youth and stu- leaders and activists  I SEE PAGE 6 COL 4
6 WEDNESDAY 25.10.2023

NEWS THE BUSINESS STANDARD

12 more dengue patients 28 Oct rallies: BNP-Jamaat activists start arriving

CONTINUED FROM PAGE 5
from Cumilla will be present in Dhaka
leadership in case top leaders are ar-
rested. If the first-tier leaders are ar-
is working to bring 10 lakh people to
the grand rally. With this end in view,

die in 24 hours on the 28th.” Party insiders say the

BNP and its allied organisations have
made a preliminary decision to lay
siege to the Bangladesh Secretariat
rested, the second and third-tier lead-
ers will lead the rallies. A senior BNP
leader, speaking to TBS on condition
of anonymity, said,
it has made preparations to bring the
maximum number of people from
the neighbouring districts of Dhaka,
namely Gazipur, Manikganj, Naray-
cases reaching 2,58,912. receiving treatment at hospitals on 30 October. The announcement “The Awami League is preparing anganj, Munshiganj, Narsingdi and
HEALTH – BANGLADESH
Of the new cases, 427 were re- across the country, shows the of the programme may be made from to attack the Jamaat rally on the 28th. Cumilla.
ported in the Dhaka city and 1,425 DGHS data. the Dhaka grand rally on the 28th. If they can remove the Jamaat from Jamaat leaders also say they are
TBS REPORT
were from various parts of the Dhaka and Chattogram divisions Besides, protests, demonstrations, the streets, they will launch attacks gearing up for gathering 8-10 lakh
Twelve more dengue patients died country, according to data released have the highest number of dengue blockades, and even strikes may be on the BNP rally as well.” He also said leaders and activists in Dhaka on 28
and 1,852 were hospitalised across by the Directorate General of Health cases. announced in succession. that by attacking the Jamaat, the AL October, according to a party source.
the country in the span of 24 hours Services (DGHS). The country recorded 281 den- wants to instil fear in the minds of BNP Secretary General Mirza
until Tuesday morning. Meanwhile, 2,50,082 dengue pa- gue deaths in 2022, surpassing Attacks, arrests big concerns BNP leaders and activists and weaken Fakhrul Islam Alamgir yesterday
With these latest figures, the tients were released from hospitals 179 casualties in 2019. Addition- BNP and Jamaat leaders think that the morale of the opposition. said the current movement is mov-
countrywide death toll from the in the country this year. ally, the DGHS recorded 62,423 there is an 80% chance that the According to BNP sources, the par- ing towards its “inevitable” goal. The
infection has now surged to 1,284 A total of 7,546 dengue patients, dengue cases and 61,971 recover- police and the Awami League will ty’s acting chairman Tarique Rahman Awami League’s intimidation, arrests,
this year with the total number of including 2,106 in Dhaka, are now ies last year. launch an attack on the 28th. is in constant contact with influential lawsuits, and night-time trials will
They claim to have information leaders of each unit of the party and “no longer be able to stop it”.
that the ruling party has made all nec- giving instructions. “Therefore,” he said, “there is no
Train crashes: Prevention ignored essary preparations for the attack. The
AL will use the police to attack first be-
He has instructed all the leaders
who submitted nomination forms
room for retreat. Resistance must be
built up wherever the government
CONTINUED FROM PAGE 5 “New railways are being con- each year due to illegal unmanned fore its cadres will join. from the BNP in the 2018 elections puts up obstruction. The capital Dha-
The causes of railway accidents have structed, but the centuries-old ana- level crossings. The high commands of both par- to bring 10,000 leaders and activ- ka must be under BNP control on 28
been known for a long time, but there logue signal system is still being Shamsul Haque said that it is ties have prepared an alternative ists to Dhaka at any cost. The party October.”
are few preventive measures in place. used,” Shamsul Haque said, sug- difficult to identify the real culprits
Transport expert and Director of gesting that an automatic system to of railway accidents if railway of-
Buet’s Accident Research Institute
Dr Shamsul Haque told The Busi-
stop multiple trains on the same line
would be a valuable safety measure.
ficers investigate themselves. Such
committees are often discouraged
AL fears ‘violence’ ahead of 28 Oct Israel, Gaza
ness Standard, “Everyone knows Railway documents reveal that from identifying the responsibili- CONTINUED FROM PAGE 5 ing the streets in the early hours of 28 CONTINUED FROM PAGE 12
the reason for accidents, but there a 2021 meeting chaired by the rail- ties of top officials involved in the Today, AL central leaders will meet October. Vigilance will be increased in “If Hamas stays and hides in
is little interest in implementing way minister recommended the training and management of rail- with the party’s Dhaka and district unit Dhaka and neighbouring districts and schools, mosques, hospitals, and
preventive measures.” inclusion of supervising officers in way staff, even though these of- leaders at the Dhaka District Awami upazilas from Thursday. operates command centres from
He said while there is interest determining liability in railway ac- ficials may be responsible for the League office in Tejgaon to finalise the These leaders are concerned that there, then they become legitimate
in funding massive new railway cidents. accidents. next course of action. incidents often escalate before the law military targets,” Stefan Talmon
construction projects, there is less At that meeting, railway officials To solve this problem, the trans- AL’s Dhaka divisional Organising enforcement agencies can take ac- said. At the same time, it applies
interest in investing in maintaining noted that one person often has to port expert suggested the forma- Secretary Mirza Azam MP told The tion. Therefore, they have instructed that: If Hamas sets up military posi-
and operating existing infrastruc- do the work of three to four people tion of independent investigation Business Standard, “Outsiders cannot field-level leaders and activists to be tions in civilian areas, that counts as
ture to provide quality services to due to manpower shortages and committees to investigate railway be allowed to come to Dhaka and dis- prepared to control or prevent any at- a war crime.
the public. that around 1,000 accidents occur accidents. turb people’s peace and security. Our tempts at arson or vandalism.
party leaders and activists have been At a meeting of the central and met- Collective punishment banned
instructed to resist this on the ground.” ropolitan leaders of the AL at the party Israel has imposed a total and com-
Dhaka-Ctg-Sylhet rail link fully restored He also said hundreds of thousands
of leaders and activists from Dhaka and
president’s office in Dhanmondi on 21
October, it was decided that party lead-
prehensive blockade on the Gaza
Strip. Israeli Defense Minister Yoav
CONTINUED FROM PAGE 5 instructions to await clearance be- has expressed deep grief and sor- surrounding districts will attend the ers and activists would monitor their Gallant spoke of a total siege in
to enter the station without waiting yond the outer signal. row at the loss of lives in the train AL’s 28 October rally. respective neighbourhoods for suspi- which Gaza would be cut off from
for the signal,” he said. Yousuf lamented, “If only the crash. Another senior AL leader told The cious people and activities. If they find electricity, water, food and fuel
At 3:45 pm on Monday, a con- freight train had adhered to that In a condolence message, he Business Standard, “Prevention is key someone suspicious, they will interro- supplies. Israeli human rights or-
tainer train, approaching from crucial 30-second wait, this en- sought salvation for the departed to responding to violence. If we can gate him or her and hand him or her ganisation B’Tselem accuses Israel
the opposite direction, collided tire accident might have been souls of those killed in the unex- stop any attempts early on, we can over to the law enforcement agencies of war crimes, due to the extent of
with the Dhaka-bound Egarosind- averted.” pected train accident and speedy maintain control of the streets. Impor- if necessary. the airstrikes and the blockade. Hu-
hur Express train just outside the However, in a grave violation of recovery of the injured. He also ex- tant leaders and public representatives AL’s Dhaka Metropolitan North unit manitarian aid organisation Doctors
Bhairab railway station moments the signal and safety protocols, the pressed his condolences to the be- in Dhaka have been instructed to make General Secretary SM Mannan Kochi Without Borders speaks of a collec-
after its departure, resulting in freight train’s driver attempted to en- reaved families. all-out preparations to implement this said, “We fear that BNP outsiders may tive punishment of Gaza that contra-
casualties. ter the station without proper clear- The families of those killed strategy.” create violence in Dhaka. Therefore, venes international law.
To enter the station safely, a ance, resulting in a tragic collision. in this accident and those who AL leaders involved in the imple- our leaders and activists will interro- According to Professor Talmon,
train must clear two critical signals: were injured are to be provided mentation of the party’s programmes gate strangers they see in their neigh- most international law experts con-
the outer signal and the home sig- Railway minister with financial support and ap- are preparing to counter any attempt bourhoods. We will not allow anything clude that a total blockade – grocer-
nal. Yousuf explained that the con- mourns casualties propriate medical care, adds the at violence immediately and prevent to happen that could disturb the secu- ies, drinking water, fuel, medical
tainer train had received explicit Railway Minister Md Nurul Islam Minister. BNP leaders and activists from occupy- rity of the people of Dhaka.” products – is not in accord with
international law. “In international
law there is a ban on what is termed
Facebook Marketplace: Buy, sell and make friends too? collective punishment, in this case
the collective punishment of the
CONTINUED FROM PAGE 12 credibility. Then I ask for photos of entire Palestinian population of the
He became excited and texted the the product. And as the final stage Gaza Strip. Not all of them are mem-
person on Facebook immediately. “A of the safety measure, I never pay bers of Hamas and not all of them
full-frame Canon 6D camera at that money in advance,” he explained. are responsible for this attack, but
price was a great deal, and I wanted He prefers the conditioned courier they are all being affected by this
it right then,” he said. option of S A Paribahan, where the reaction from Israel just the same —
The seller agreed to sell the cam- courier service is the intermediary indiscriminately.”
era and asked him to send Tk500 in in exchanging the payment and the Moreover, international law ex-
advance. When Atik said he lived product between the buyer and the plicitly forbids starving out a civil-
in Rajshahi and would like to hand seller. ian population. “If I impose a total
over the entire payment while receiv- Atik Hossain Zisan follows similar blockade, at some point the food
ing the product, the seller stopped safety measures as well. Additional- supplies or drinking water will run
replying to his texts and eventually ly, he makes sure that the Facebook out, and then it comes to the point of
blocked him. profile of the person in question is starving out the civilian population.
“Since selling products on Face- authentic. That is forbidden under internation-
book Marketplace is free, many peo- “You need to look for real photos al law,” Talmon said.
ple try to swindle others by posting and online interactions of the per-
fake ads. They usually use remote son. that’d give you an idea about Evacuation legal,
or distant locations from Dhaka and the person trying to sell or buy prod- expulsion illegal
ask for an advance to book the prod- ucts,” he explained. “Besides, you On 13 October, Israel’s military told
uct. Once people pay the advance, can check out the seller profile in more than a million civilians in the
they stop communicating,” Atik Marketplace – what items that par- northern part of the Gaza Strip — al-
pointed out. ticular seller has sold before and most half the total population — to
Atik also shared his frustration who has commented on their posts.” move to the southern part of the
over the spurious pricing of products “This also gives an idea about area. Because the infrastructure of
on the Marketplace. “Sometimes, ILLUSTRATION: TBS whether or not you can trust the the Gaza Strip is in ruins and there
figuring out the price of an item on profile.” are not enough places for that many
the Marketplace can feel like solving One curious issue Atik faces after friends with a man from Dhaka who Facebook Marketplace for selling his But what Atik prioritises the people to go to, the United Nations
a puzzle. You spot a cool item, but posting an ad on the Marketplace is sources handpicked items from eBay. old gadgets, especially cameras and most is product photos. He said, “I said such an evacuation was impos-
instead of a price tag, it says ‘Free’ that people from India often text and “I noticed a person selling cam- computers. Last month, he sold a always ask for photos from a par- sible. Jan Egeland, a former state
or ‘Tk1’, and now you’re obligated to ask for his products. Since Rajshahi era lenses and other gadgets that Fujifilm XS10 with an 18-55mm lens ticular angle. If someone can show secretary of Norway and current
send a message to the seller to know shares a border with India and Mar- we rarely see on the Facebook Mar- for Tk90,000 on the Marketplace to a me the product exactly the way I secretary general of the aid organi-
the price.” ketplace targets the local communi- ketplace in Bangladeshi markets. So buyer from Dhaka. want, then that indicates that they sation Norwegian Refugee Council,
According to Atik, sellers from ty, people from Malda or Berhampo- I started asking him where he gets Before that, he bought a desktop have the product. If they’re just described the evacuation order as
different pages usually play this re in India also see his ads and text these items,” said Atik. monitor from a seller in Noakhali. using stock photos of the product illegal. It is “not an evacuation op-
pricing mystery game on their prod- him occasionally. “When I tell them At first, the person was reluctant We asked Evan how he deals with and refuse to share photos after I portunity, it’s an order to relocate.
ucts. These sellers deliberately keep they have to cross the border to buy to share the details, but later, they buyers and sellers who live far away ask for them, I usually steer clear Under humanitarian law, it’s called
the actual prices under wraps be- my products, we often share a good bonded over a mutual enthusiasm and cannot check out the products of those profiles.” forcible transfer of populations, and
cause the more people click on these laugh.” for gadgets. And now, he is one of in person. He said he always makes Like Evan, Atik also prefers S A it’s a war crime,” he said.
items and text them, the more reach Sometimes, the buyers and sell- Atik’s reliable sources to get prod- sure to get the buyer’s or seller’s cell Paribahan and Sundarban Courier In principle, however, Stefan
their products get on Marketplace. ers connect beyond the Marketplace ucts he cannot get in Bangladesh. phone number when they start com- Service. Ilma, however, said that she Talmon explains, the evacuation
“It can get pretty frustrating on the chat by sending each other friend Evan Azad, a photographer based municating through Facebook texts. uses Steadfast to deliver her prod- of a civilian population by an oc-
buyer’s end,” he added. requests. Atik, for example, became in Halishahar, Chattogram, relies on “Talking over a call gives primary ucts to the customers. cupying power is allowed under
international law. “For example, to
ensure the protection and safety of
When will the devastating train accidents stop? the population and enable military
operations.” According to Talmon’s
CONTINUED FROM PAGE 12 from Kishoreganj arrive at Bhairab Reporters Forum statistics showed He said that over the last 10 years, of the more than 3,000 kilometres of estimation, Israel is not acting un-
But the nature of the accident looks Bazar Station on the north side track that at least 131 people were killed the railway lines saw improvements, existing railway tracks in the country lawfully in this case.
mysterious to a former director gen- (which runs on the west side for most and 110 were injured in 137 railway as a result of which the number of have expired their lifetime. “It would be against interna-
eral who led the public transport of the route), and they must change accidents in the first six months of train accidents have come down in “I think the railway will have to tional law if Israel were to attempt
service. He cannot figure out how it track to use the Dhaka-bound track. this year. comparison with 10 years ago. set up around 30 percent of the 70 to push out the population from the
happened. This is exactly where the collision The statistics have been prepared “Unfortunately, a big accident percent railway line anew, rehabili- entire Gaza Strip. However, within
“I have been reading the news took place. Moments before the pas- based on the information published has happened this time,” he said. tation will not solve the problem,” the territory of an opponent, I can
since yesterday but I cannot figure senger train could switch the track, in 12 Bangla national dailies, five According to the Bangladesh Rail- Professor Hadiuzzaman told TBS. evacuate the population or force
out how the accident took place be- the freight train entered the same English national dailies, nine online way’s Information Book, all types of He said that as a result, the most them to relocate for their own pro-
cause there are double tracks,” said track, ramming into the last coaches news portals and news agencies, accidents have come down over the common train accidents are derail- tection and security,” the interna-
the former Railway DG on the condi- of the former. and six regional dailies. last 10 years. For example; in 2008- ments. The second most common tional law expert explained.
tion of anonymity. The Forum observed that the in- 2009, the number of collisions was 7, type of train accident involves the International law “is made by
“There was no need to use a Overall railway accidents difference of the authorities, defects derailments stood at 408 and trains runover of people. The third type countries, for countries,” Stefan
crossover. And my question is, why are on the decline in the signalling system, dangerous running into obstruction 34, total- happens on crossings. Talmon said. Countries who thereby
will the train go through the crosso- Train accidents are not rare in Bang- level crossings, addition of extra ling 449 train accidents. There are many reasons for the assume that they themselves will
ver.? They have a different line.” ladesh. But in most cases, they are coaches to the engine capacity, lack On the other hand, in 2019-20, the recurring derailments of trains in wage war one day. In doing so,
“It means that something else caused by derailment of trains due of stones in the railway tracks and number of collisions was 1. The num- the country. The railway line is not they do not want to put shackles on
happened before the accident took to the dilapidated and under-main- risky railway bridges are the main ber of derailments was 72 and trains maintained properly, the lines lack themselves or impose rules which
place and for this reason, the station tained railway lines. causes behind the accidents. running into obstruction stood at 7. blast and the sleepers are weak. they then cannot follow.”
brough the train on a different line However, an accident like a head- However, the former director In total, 80 accidents happened in “Another reason is that the gov- MATTHIAS VON HEIN IS A DEUTSCHE
instead of the line the train was sup- on collision and entering into the general we spoke to earlier said that that fiscal year. ernment purchases locomotives WELLE JOURNALIST
posed to come.” same line where a train is already this particular accident does not in- Former director of the Accident without taking into consideration Disclaimer: This article first ap-
However, one explanation is standing is low. dicate the number of accidents has Research Institute at Buet, Professor the capacity of the railway track,” peared on DW, and is published by
that being a junction station, trains Shipping and Communications increased. Hadiuzzaman, said that 70 percent added Professor Hamiduzzaman. special syndication arrangement.
 STOCKS & CO. THE BUSINESS STANDARD I WEDNESDAY 25.10.2023
7
How pricier gas squeezed quarterly Grameenphone’s profit
shrinks despite more
business of HeidelbergCement revenue in Sep quarter
com operator managed to post reve-
CONSTRUCTION - BANGLADESH TELECOM - BANGLADESH
nue nearly 5% higher, and net profit
3% higher compared to the January
TBS REPORT
QUARTERLY TBS REPORT
to September period of 2022.

38.7
Following its outstanding busi- The country’s largest mobile operator In this year’s January-September
ness performance in the Janu- NETPROFIT OF From 18 April to
7 May this year,
Grameenphone has witnessed a 17.7% period, Grameenphone’s revenue
ary to March quarter this year, year-on-year drop in its profit for the stood at Tk11,845 crore, net profit at
HeidelbergCement Bangladesh HEIDELBERG share price jumped July to September quarter of 2023, even Tk2,720 crore, and finance expenses
Limited has faced a downturn in though its revenue grew by 6.32%. at Tk815 crore.
both revenue and profit over the CEMENT OVER 88%
According to the company’s in- At the end of the nine-month peri-
past two quarters. The primary od, its EPS was Tk20.15, net asset val-
cause is the rise in gas prices, com- BANGLADESH On Monday,
shares closed at
terim financial statements, its profit
stood at Tk747.15 crore, and revenue ue per share 42% higher year-on-year
bined with intense competition in at Tk4,109 crore in the July-Septem- at Tk44.87, and net operating cash
the market. FIGURES IN TK247.8 ber quarter this year. Its earnings per flow per share 7.85% lower at Tk34.36.
The Germany-based cement CRORE TAKA each at the DSE share (EPS) stood at Tk5.53. Grameenphone’s board approved
manufacturer began the year 2023 9.1 2.7 The company stated in its finan- the quarterly financial statements in
on a positive note by breaking a -3.6 0.8 Dividend cial statement that its profit declined its meeting held on Monday.
five-quarter losing streak, and re- payout was because of a 64% increase in its fi- The mobile operator will organise
turned to profits with posting a re- nance expenses, and 15.3% increase an investors’ meet to explain its fi-
markable performance in the first Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep
10% CASH in tax expenses during the quarter, nancial performance today through
quarter. last year compared to the previous year’s Sep- a digital platform. Grameenphone
The company’s revenue was 2022 2023 tember quarter. got listed on the stock exchanges
Tk567 crore and profit Tk38.69 crore At the end of the quarter, Gra- in 2009. Its market capitalisation is
in the January-March quarter. What went wrong ment raised the gas price for captive es up enough to offset the business meenphone’s finance expenses Tk38,699.59 crore. The company’s
But in the April-June quarter, Seeking anonymity, a senior official at power plants by 88%, and for large cost because of intense competition stood at Tk158 crore, and income tax shares are stuck at floor price of
its revenue fell 20% and profit the company told The Business Stand- industries by 150%, which came in the cement industry.” expenses at Tk774 crore. Tk286.60 each since October 2022.
70% compared to the previous ard, “Since October last year, the price into effect from February, he added. Therefore, as HeidelbergCe- However, in the first nine months In 2022, it made a profit of
quarter. of raw material for making cement “And, because of higher gas ment’s products became more ex- of 2023, despite a staggering 222% Tk3,009.1 crore and paid a 220%
The decline continued in the has been falling in the global market. prices, business costs of the cement pensive compared to those of other growth in finance expenses, the tele- cash dividend to its shareholders.
July-September quarter as well, as Alongside that, the price of cement it- industry increased, putting pres- cement-makers, the demand for
revenue shrank by 36% and profit self increased by 5-10%, which helped sure on the industry to level up its the multinational firm’s cement
by 93% compared to the Jan-Mar us overcome our previous quarterly product prices.” has been decreasing since April GRAMEENPHONE’S FINANCIAL PERFORMANCE
quarter, and stood at Tk365 crore losses and return to profits.” “However, other local cement this year, and hence the business
and Tk2.70 crore respectively. But this January, the govern- companies could not pull their pric- slump, the official added. QUARTERLY PERFORMANCE IN 2023
JAN-SEP 2023 Revenue
Revenue Profit
BSEC, Bida INVESTMENT - BANGLADESH
ganised the event titled “The Rise
of Bengal Tiger: Bangladesh-France
marks a significant change in our
approach today.” grew 4.94%

4,109.51
year-on-year to

4,000.80
Trade and Investment Summit” on Marie Masdupuy, the Ambas-
showcase TBS REPORT

3,734.79
Monday. sador of France to Bangladesh, ex- TK11,845CR
Bangladesh recently conducted At the roadshow, Shibli Rubayat pressed Paris’s interest in investing

Source: Unaudited statements

Bangladesh’s a roadshow in France to actively Ul Islam, chairman of the BSEC, said in various sectors of Bangladesh. Net profit

1,193.79
promote investment opportunities, “In the past, France generously pro- She mentioned that approximately up by 3% to

investment shedding light on the nation’s re- vided aid to Bangladesh, fostering six weeks ago, French President TK2,720CR

779.68

747.15
markable development and its po- a strong connection through initia- Emmanuel Macron visited Bang-
tential for investors. tives like the Donate Club in Paris. ladesh, and during this visit, dis-
potential Bangladesh Securities and Ex-
change Commission (BSEC) and
However, our priorities have shifted,
we are here to explore potential
cussions took place regarding
mutual interests aimed at strength-
Finance costs
surged by

in Paris Bangladesh Investment Develop-

ment Authority (Bida) jointly or-
partnerships, reflecting this new fo-
cus on economic cooperation. This
ening economic ties between the
two nations.
222% to
TK816CR
Jan-Mar Apr-Jun Jul-Sep

Idcol accords integrity

awards to its employees
academic results in both their SSC the talented students and Integrity
AWARD - DHAKA
and HSC exams. Awards to the deserving employees.
Furthermore, the Integrity During his speech, Morshed en-
TBS REPORT
Awards were bestowed upon Idcol couraged the scholarship recipients
Infrastructure Development Company employees who had consistently not only to view this recognition as
Limited (Idcol) recognised the aca- demonstrated remarkable dedica- motivation for future success but
demic excellence of outstanding stu- tion and unwavering integrity in also as an opportunity to inspire
dents with scholarships and awarded their professional endeavors. Their others to excel in their studies and
integrity awards to its employees at its exemplary conduct serves as a make a positive impact in their aca-
head office on Sunday. source of inspiration for their col- demic journeys.
As part of its Corporate Social leagues, promoting the highest Morshed also called upon all Idcol
Responsibility (CSR) initiatives, the standards of honesty and ethical employees to embrace the positive
Md Fashiullah, executive vice chairman, Microcredit Regulatory Authority, Humaira Islam, founder and company granted one-time scholar- behavior in their respective fields. and meaningful practices demon-
executive director, Shakti Foundation and representatives from participating banks and non-banking ships to four exceptional students, The event's chief guest, Alam- strated by the Integrity Award recipi-
financial institutions at the Tk300 crore deal closing ceremony, with an option to increase upto Tk500 crore, all of whom are the children of Idcol gir Morshed, the Executive Director ents. He emphasized the importance
syndicated term loan facility for Shakti Foundation held at Sheraton Dhaka on Monday. Eastern Bank is the employees. These bright young in- and CEO of Idcol, personally pre- of collective efforts in building a better
lead arranger of the loan. PHOTO: COURTESY dividuals had achieved outstanding sented scholarship certificates to tomorrow together.

Eastern Bank to arrange

Tk300cr syndicated loan
for Shakti Foundation
The formal closing ceremony loan stands as a testament to our
FINANCING - BANGLADESH
took place on Monday at the Shera- business commitment to foster so-
ton Dhaka in the city, said a press cial development in the country,
TBS REPORT
release. especially for marginalised commu-
Shakti Foundation, a prominent Md Fashiullah, Executive Vice nities. I believe that this agreement
microfinance institution in Bangla- Chairman of the Microcredit Regu- will greatly assist the Shakti Founda- Integrity awards recipient employees of Infrastructure Development Company Limited (Idcol) and
desh, has chosen Eastern Bank PLC latory Authority (MRA), Humaira tion in its endeavors to enhance the Scholarship recipients students who are the children of its employees pose with its senior officials at
to facilitate a loan of Tk300 crore, Islam, PhD, the Founder and Execu- socio-economic well-being of under- Idcol head office in Dhaka. PHOTO: COURTESY
with the option to increase it up to tive Director of Shakti Foundation, privileged women in our nation."
Tk500 crore. as well as representatives from vari- The participating financial insti-
This loan facility will be instru-
mental in advancing Shakti Foun-
dation’s microfinance initiatives,
ous banks and non-banking finan-
cial institutions, were also present.
Ali Reza Iftekhar, the Managing
tutions in this venture include Bang-
ladesh Development Bank Limited
(BDBL), Dutch-Bangla Bank Limited,
Dhaka Regency to organise ‘Halloween
which encompass micro-enterprise
loans, micro-credit, and agricultural
Director and CEO of EBL, expressed
his gratitude to all the participants
Jamuna Bank PLC, Midland Bank
Limited, One Bank Limited, Pubali
Night Party on the Skyline’ on 31 Oct
loans aimed at empowering under- for their unwavering support in suc- Bank Limited, SABINCO, South-
CORPORATES - BANGLADESH
privileged women in the country, cessfully concluding the deal. Bangla Agriculture and Commerce
particularly in urban areas. He remarked, “This syndicated Bank Limited, and Eastern Bank PLC.
TBS REPORT
Dhaka Regency Hotel and Resort’s

Kaaruj HOME DECOR - DHAKA

TBS REPORT
renowned rooftop garden restaurant
undergoes a spine-chilling transfor-
mation into a Halloween wonder-

Bangladesh
land on the eerie night of 31 October.
Kaaruj Bangladesh a home decor and fashion brand is finally The festivities are set to kick
opening its own physical outlet at Dhanmondi. off at 5:30pm and continue until
With the target demand from this zone, the management has 10:30pm. Get ready for a spine-tin-

outlet decided to select this area as its starting point!

The inauguration of this outlet shall take place on 28 October
at 4 pm, said a press release.
gling evening filled with ghoulish
delights and spine-chilling enter-
tainment!, reads a press release.
Dhaka Regency Hotel, and Resort’s most popular rooftop garden
restaurant transform into a Halloween wonderland on 31 October.

opening The outlet is situated in a popular space on Road 27 on the

Shaptak Mall 3rd floor.
Kaaruj Bangladesh is a growing home decor and accessories
The Halloween Night Party is go-
ing to offer a bone-chilling experi-
ence like no other, inviting guests
Famous Pumpkin Pie, Spooky Witches Fingers, Pumpkin Ginger
Cup Cake, and Bloody Broken Glass will be prominent at the dessert
station. PHOTO: COURTESY

on 28 Oct
brand in Bangladesh! The brand is relentlessly working on pro- of all ages to revel in the spine-
moting aspirational and aesthetic conceptual decor items helping tingling festivities high above the destination for those seeking an hauntingly beautiful rooftop ambi-
people to bring art to their homes! cityscape. unforgettable Halloween night. ance, this event is sure to become
Grill on the party is the ultimate With its breathtaking city views and the talk of the town.
8 WEDNESDAY 25.10.2023

THOUGHTS THE BUSINESS STANDARD

Net present value of a homemaker

Dr Mohammad Naveed Ahmed
Managing Director, Miyako Appliance Limited

The net present value of

a homemaker is actually
a high positive, and it is
high time we alter our
wrong learnings and
start respecting their
contribution

I
often attend social gatherings with my
wife where she is usually asked about
her job. She replies to such questions
with, “I used to be a university lecturer
and an analyst, but now I prefer to take
care of my children.” Many answer back,
“Oh! Good, now you do not need to work
and can stay at home!”
I find this thinking grossly incorrect and
I expect a better reply like, “Oh great! You
are a homemaker – you must have an end-
less level of expertise and capability!” The
homemaker’s job ought to be appreciated
rather than undermined.
Let us check a bit of finance before mov-
ing to the main discussion. To calculate the
present value, we divide the future value FV
by a factor of (1 + i) for each period between
present and future dates, thus the formula The mental stress-handling capacity needed to function as a homemaker is difficult even when compared to an organisation setting. PHOTO: WORLD BANK
comes PV=FV/(1+i)n. To be simple, if the FV
flow is negative, the PV also will result in a Their day begins quite early in the morn- helpers or maids is more chaotic and it is
negative and vice versa of the whole sum- ing. On one side, they prepare breakfast for easier to not have their assistance.
mation. Now, let’s back to the main discus- the family members, while simultaneously At the end of the month, when we start
sion of this article. packing lunch pots or tiffin and helping the paying our bills, a good portion of our in-
People believe a homemaker’s job is children get ready. Their jobs have eased up come goes to the house helpers – and con-
centred around activities like watching tel- a bit these days, thanks to the ample supply sidering the organisational hierarchy taught
evision serials, gossiping, shopping, etc. A of ready foods. in business, the superior authority must get
significant portion of readers will definitely After that, the focus shifts to the daily a higher salary than the functional level.
agree with this, but I find this to be incorrect. necessities of the household like dusting, Again, if we consider the educational back-
To understand, it is better to take a glance at cleaning, sweeping, mopping the floor, ground and experiences, the salary could be
a normal day of a homemaker and discuss it washing clothes, doing dishes, etc. Yes, the tripled or quadrupled.
from a financial point of view. homemaker does not do it all and may have The mental stress-handling capacity
If I choose a word to describe a homemak- household helpers to assist, but it is not as needed to function as a homemaker is dif-
er’s daily routine, it would be ‘exhausting’. easy as it looks to be. Sometimes having ficult even when I SEE PAGE 10 COL 1

Big tech cannot be regulated

Yanis Varoufakis
Former Finance Minister, Greece

If regulators tried to break

up Facebook or TikTok,
they would be confronted
by enraged users for
whom the universal nature
of these platforms is the Big Tech is so profoundly different from other industries that it cannot be regulated
reason they use them like any of the trusts, cartels, or conglomerates. PHOTO: REUTERS

M
of charge and free of supply constraints. from massive network effects: with every
odern societies have had to deal When US President Theodore Roosevelt new user they attract, the services they of-
with exorbitant market power for led the charge to break up Standard Oil, it fer become more valuable to existing users.
more than a century. But is Big was technically simple, even if politically AT&T’s network effects depended on charg-
Tech’s power over us novel? Is Google, courageous. But how does one break up Am- ing more for calls to other telecom compa-
Amazon, or Meta inherently different from azon, Facebook, Paypal, or, indeed, Airbnb, nies’ customers – an advantage that the
Standard Oil in the 1920s, IBM in the 1970s, Tesla, or Starlink? If the government tried, regulator easily eliminated by banning car-
or Walmart more recently? it would be confronted by enraged users for riers from charging more for calls to other
If not, then perhaps we can regulate Big whom the universal nature of these plat- companies’ customers.
Tech by means of legislation harking back forms is the reason they use them. But how can regulators cancel X’s or Fa-
to the United States’ 1890 Sherman Anti- Free services mean that users are not cebook’s network effects? Interoperability
trust Act. Lina Khan, the chairperson of the the customers; that role is reserved for the would mean enabling you to take all your
US Federal Trade Commission, is valiantly businesses that need to use Big Tech’s al-
trying to do just that. gorithms to reach the services’ users. When
Sadly, it won’t work. Big Tech is so pro- Amazon or Facebook charges sellers an
foundly different that it cannot be regulated arm and a leg for the privilege (thus ex-
like any of the trusts, cartels, or conglomer- tracting from them a form of cloud rent), Big Tech must not be confused
ates we have hitherto encountered. regulators face an impossible political co- with High Tech. Industrial
Adam Smith’s portrait of capitalism as nundrum: they must sail against the winds robot manufacturers such as
a market town where family-run butch- of public opinion (the millions of users
eries, bakeries, and breweries promote whom Big Tech enlists to its cause) to pro-
ABB, Kuka, Kawasaki, and
the public interest through open-ended, tect capitalists from these techno-feudal Yaskawa produce splendid
morally grounded competition bears no lords, or cloudalists, as I call them in my technological miracles but
resemblance to modern economies. Virtu- recent book Technofeudalism: What Killed do not have Big Tech’s
ally every industry – from railways, energy, Capitalism. That’s a huge ask. Moreover, power over us.
and telecommunications to soap powder, it is not even the main reason behind Big
cars, and pharmaceuticals – is a cartel of Tech’s exceptional power.
gargantuan conglomerates whose stran- Big Tech must not be confused with High
glehold is only occasionally loosened when Tech. Industrial robot manufacturers such
politicians muster the will to enact and en- as ABB, Kuka, Kawasaki, and Yaskawa posts, photos, videos, friends, and follow-
force antitrust legislation, even at times us- produce splendid technological miracles ers from X and Facebook seamlessly to an-
ing it to break them up. but do not have Big Tech’s power over us. other platform (say, Mastodon) – a virtually
Why can’t the same be done to Big In the 1960s and 1970s, IBM’s computers impossible technical feat, unlike the simple
Tech? What makes it unique? had a stranglehold over government and task of letting AT&T customers call Verizon
Antitrust regulation was originally de- the private sector, supplying them cutting- customers at no extra charge.
signed to prevent price gouging by mega- edge (for the time) machines. AT&T too had Even the difficulty of imposing interop-
firms that restricted supply until the price a virtual monopoly over telephone services, erability is not Big Tech’s greatest source of
hit a level maximizing their monopoly prof- until it was broken up in 1984. But neither power. In the early 1970s, IBM monopolized
it, at the expense of consumers and work- IBM nor AT&T had anything like Big Tech’s the means of computation in a manner that
ers (whose employment falls alongside control over us. differed little from Standard Oil’s energy
output). Obviously, this is irrelevant in the One reason is that internet-based plat- dominance or Detroit’s near-monopoly of
case of Big Tech’s services, which are free forms like WhatsApp and TikTok benefit private transportation. I SEE PAGE 10 COL 1
THE BUSINESS STANDARD
WORLD & WORLD BIZ WEDNESDAY 25.10.2023
9
Freed Israeli hostage
says Hamas treated her
well after initial violence
PALESTINE CRISIS – TEL AVIV

REUTERS
An elderly Israeli hostage who was released by Hamas
overnight said she had been beaten by the militants
when she was abducted and taken to Gaza on 7 Oc-
tober, but was then treated well during her two-week
captivity in the Palestinian enclave.
Yocheved Lifshitz, 85, was one of two women freed
late on Monday, leaving around 220 hostages still in
the hands of Hamas, including both of their husbands.
“I’ve been through hell,” Lifshitz told reporters, speak-
ing in barely a whisper and seated in a wheelchair outside
the Tel Aviv hospital, where she was taken following her
release. Looking frail, Lifshitz said gunmen had burst into
her kibbutz, Nir Oz, taking residents by surprise.
“They stormed into our homes. They beat people.
They kidnapped others, the old and the young without
distinction,” she said.
Israel’s public broadcaster Kan has said that a third of
Nir Oz’s 400 residents was believed to have been abduct-
ed or killed on 7 October. No official data has been given.
Lifshitz herself was put on a motorbike and driven
into nearby Gaza. “When I was on the bike, my legs were
Wateen, a 14 months old Palestinian who was injured in an Israeli strike which killed her mother and injured her twin brother Ahmed, rests at Nasser hospital, on one side and the rest of my body on the other side.
in Khan Younis, in southern Gaza Strip, 23 October. PHOTO: REUTERS The young men hit me on the way. They didn’t break my
ribs but it was painful and I had difficulty breathing.”

US urges Israel hold off Gaza invasion

She said her watch and jewellery were stolen dur-
ing the ride. Inside Gaza, a group of hostages were led
into what Lifshitz called a “spider’s web” of tunnels
that Hamas had built I SEE PAGE 14 COL 3

ahead of China ceasefire talks World court to hold

PALESTINE CRISIS – WASHINGTON
further complicate US-China ties. sources familiar with discussions said, ‘Tough questions’ public hearings over
The United States has already advised as Israel’s blockade of Gaza worsens a A second US official said that European
AGENCIES
Israel to hold off on a ground assault in humanitarian crisis and the death toll governments, many of whom also have Israel’s occupation
the Hamas-controlled Gaza Strip and is from its bombardment of the enclave citizens being held hostage, were also
Chinese Foreign Minister Wang Yi will keeping Qatar – a broker with the Pales- passes 5,000. suggesting Israel refrain from launching WAR CRIME – AMSTERDAM
visit Washington for high-level meetings tinian militants – informed of those talks, A US priority is to allow more time for its ground offensive to give space for the
on issues including securing a ceasefire sources said, as Washington tries to free negotiations on the release of hostages negotiations on their release to play out. REUTERS
in Gaza which the US administration more hostages and prepare for a possible taken by Hamas on 7 October, sources US President Joe Biden discussed the The International Court of Justice (ICJ) will hold pub-
has said depends on the release of all spillover in a wider regional war. said, particularly after the unexpected hostage and humanitarian crises in Gaza lic hearings to allow parties to give their views on the
hostages taken by Hamas in a 7 October After Hamas attacked Israel on 7 release of two Americans on Friday. Ha- with the leaders of Canada, France, Ger- legal consequences of Israel’s occupation of the Pal-
deadly incursion into Israel. October and killed some 1,400 people, mas said it released two more hostages many, Italy and Britain on Sunday, the estinian territories before eventually issuing a non-
Wang will be in Washington from the United States stood by its ally and on Monday. White House said. binding legal opinion, it said on Monday.
Thursday to Saturday and meet with Sec- stressed that Israel has the right to de- Hamas is believed to hold more than The first US official said that along The 193-member United Nations General Assem-
retary of State Antony Blinken and White fend itself. It has also publicly stressed 200 hostages. with the hostage negotiations, advising bly in December had asked the ICJ, also known as the
House National Security Advisor Jake Sul- that Israel will decide its own timetable One US official said the administra- Israel to hold off on its invasion could World Court, to give its view on the on-going conflict
livan, senior Biden administration officials for retaliation. tion, mindful of Doha’s role as an inter- also give more time for humanitarian aid between Israel and Palestinians.
said on a call with reporters yesterday as However, China has called for a mediary with Hamas, was keeping Qatari to be delivered to Gaza. Hearings in the Dutch city of The Hague will open
a war in Middle East threatens to further cease-fire. President Joe Biden said yes- officials informed of its advice to Israel so Since Saturday, the United Nations on Monday, 19 February, the court said. The request
widen differences between the world’s two terday that “we should have those hos- that they are fully up-to-speed as hostage said 54 trucks of aid had been able to en- for a so-called advisory opinion had been made before
superpowers. tages released, and then we can talk” negotiations continue. ter Gaza from Egypt. the current escalation in the region, so the ICJ’s opin-
An expected Israeli ground inva- about a cease-fire. “For now, there’s no clear roadmap White House national security spokes- ion will focus solely on the Israeli occupation.
sion into Gaza could send Palestinian Sensing the seriousness of the cri- or sequence of the steps towards com- person John Kirby said on Monday that It was made in a resolution adopted by the General
civilian casualties soaring and widen sis in Gaza, the White House, Penta- plete de-escalation. The priority is on since the start of the conflict Washington Assembly with 87 votes in favour. Israel, the United
the war beyond Israel’s border. Iran, a gon and State Department have now working to get the hostages out step-by- had been speaking with Israel to “ascer- States and 24 other members voted against, while 53
close ally of Beijing, could enter the war stepped-up private appeals for caution step,” said a source briefed on the hos- tain their intentions, their strategy, their abstained.
through its proxies to contain Israel and in conversations with the Israelis, two tage negotiations. aims, to see what I SEE PAGE 10 COL 3

Pak court stops

Russia, Iran
bolster ties
in ‘trusting’
The European Jews condemning military trials
of pro-Khan
protesters
atmosphere
GEOPOLITICS – TEHRAN
‘massacre by Israel’ POLITICS – ISLAMABAD

REUTERS
PALESTINE CRISIS – COPENHAGEN
REUTERS Pakistan’s top court ruled on Mon-
Russia and Iran are firming up bilat- TBS REPORT day that military trials of civilians
eral relations in a ‘trusting’ atmos- are unconstitutional, a relief for doz-
phere, Russia’s foreign ministry said When Jonathan Ofir heard the ens on trial for ransacking military
early on Tuesday after its chief, Ser- West-led chorus of vehement installations during protests in May
gei Lavrov, was received by Iranian condemnations of the October 7 after the arrest of former Prime Min-
President Ebrahim Raisi during a Hamas attack on southern Israel, ister Imran Khan.
visit to Tehran. coupled with a flood of statements The government had said it would
“In a traditionally trusting at- supporting the country’s right — in use military courts to try the suspects,
mosphere, current aspects of the effect — to retaliate, he feared he sparking fears over fair process.
bilateral agenda were substantively knew what that meant. But the Supreme Court, in a short
discussed with an emphasis on fur- “That is, a green light for Israel order, declared that such proceedings
ther building up the entire complex to carry out a much larger massa- under the Army Act would be of no le-
of multifaceted Russian-Iranian cre than the one they were reveng- gal effect, with trials of some 103 peo-
partnership,” the foreign ministry ing,” the Jewish musician, conduc- ple to move to civilian criminal courts.
said in a statement on the Telegram tor and writer told Al Jazeera. The suspects have been in custody
messaging app. Lavrov, who went to Ofir, a pro-Palestinian cam- since May. Petitioner Aitzaz Ahsan, a
Tehran shortly after an Asia trip to paigner who was born in Israel prominent lawyer and former minister,
China and North Korea, discussed but lives in the Danish capital, told media outside the court that its
energy and logistics projects with Copenhagen, is among many Eu- decision was a victory for democracy.
Iranian Foreign Minister Hossein rope-based Jews who are critical Hundreds of Khan supporters
Amirabdollahian. of Israel’s policies and have joined stormed military and government
As has been the Russian norm, protests that have exploded across installations, and even torched
few details of the talks, which took the continent against the ongoing a general’s house, following the
place amid the rising tensions in the attacks on Gaza. Palestinians, who fled their houses due to Israeli strikes, gather to get their share of charity food former premier’s brief arrest by
Middle East, have been disclosed. From Glasgow I SEE PAGE 10 COL 3 offered by volunteers, at a UN-run school in Rafah in southern Gaza Strip, 23 October. PHOTO: REUTERS paramilitary soldiers. Khan had
Lavrov also participated in re- accused the military of being behind
gional talks hosted by Iran, aiming an attempt to assassinate him.
to bring peace to the South Caucasus
region after Azerbaijani forces last
month recaptured the breakaway Sri Lanka inflation US-China economic talks start with
eases further in Sept
region of Nagorno-Karabakh and
forced thousands of ethnic Armeni-
ans to flee. Since launching its full-
scale invasion of Ukraine in Febru- enced record high inflation after
first working group meeting
INFLATION – COLOMBO
ary 2022, Moscow has sought to firm its economy was pummelled by the The Chinese expressed concerns ed Beijing this year as the two sides
GEOECONOMICS – BEIJING
up ties with countries traditionally worst financial crisis in decades. to the US on unspecified matters, ac- try to turn down the heat on their
REUTERS
considered Western aligned, accus- But since June, its inflation has BLOOMBERG cording to a statement Tuesday from relationship.
ing “the collective West” of trying to Sri Lanka’s consumer price infla- come down sharply, partly due to the Ministry of Finance in Beijing. Yellen has long sought more reg-
break up Russia. tion rate eased to 0.8% year-on- the statistical base effect, but also US Treasury staff and counterparts A second working group will ular contacts between the Treasury
Ukraine has urged Tehran to stop year in September from 2.1% in Au- helped by a stronger rupee curren- from China held the first meeting of meet Wednesday evening in Wash- and Beijing’s economic leadership
supplying deadly drones to Russia, gust, the statistics department said cy, and improved harvests. a new working group dedicated to ington and Thursday morning in as a way to gather more informa-
which Kyiv says have played a major on Monday. Sri Lanka raised power prices discussing economic topics, yet an- Beijing to discuss financial topics. tion about China’s economy and to
role in Moscow’s attacks on Ukrain- The National Consumer Price for households by 18% last week other small sign of improving ties The virtual gatherings come as the prevent policy disagreements from
ian cities and infrastructure. Index captures broader retail price but the increase is unlikely to sig- between the two powers. Biden administration is preparing flaring into more serious confron-
Iran initially denied supplying the inflation and is released with a lag nificantly push up inflation, ana- “The delegations met virtually to receive Chinese Foreign Minister tation. Yellen met face-to-face with
Shahed kamikaze drones to Russia of 21 days every month. lysts said. for two hours and had a productive Wang Yi in Washington this week. Pan Gongsheng, governor of Chi-
but later said it had provided a small Food prices fell 5.2% in Septem- “We expect inflation to end the and substantive discussion on top- The two sides agreed last month na’s central bank, in Marrakech,
number before Moscow launched ber after declining 5.4% in August, year at about 5%. A small increase is ics including domestic and global to establish the two groups dedi- Morocco on 13 October.
the war. The United States has said from a year earlier, the Depart- expected as the base effect is coming macroeconomic developments,” cated to holding regular, staff level Preparations have been under-
that it has been concerned by the ment of Census and Statistics said to an end from September but the im- the Treasury Department said in sit-downs following Treasury Sec- way for some time for a potential
“burgeoning defence partnership” in a statement. Prices for non-food pact from price adjustments is not ex- a statement following the session, retary Janet Yellen’s visit to China summit between Presidents Joe
between Iran and Russia, which items, however, climbed 5.9% in pected to be severe,” said Dimantha held by video conference on Mon- where she met with Vice Premier Biden and Xi Jinping in San Fran-
poses risks not only to Ukraine but September after rising 9% year-on- Mathew, head of research at First day evening in the US and Tuesday He Lifeng and other leaders. Other cisco in November, but no meeting
also to Iran’s neighbours. year in August. Sri Lanka experi- Capital Research. morning in Beijing. cabinet secretaries have also visit- has been finalised.
10 WEDNESDAY 25.10.2023

NEWS THE BUSINESS STANDARD

Euro zone edges closer The European Jews condemning ‘massacre by Israel’
CONTINUED FROM PAGE 9 by the “Israeli occupation and discrimina- “When I first started identifying myself as

to recession on slowing
to London, Paris to Barcelona, many have tion of my Palestinian co-citizens”. Jewish and supporting Palestinian rights on
joined pro-Palestinian rallies to express Farjoun told Al Jazeera that the Hamas at- X [formerly Twitter], the issue in the UK was
solidarity with the people of the blockaded tack on Israel brought her “great sorrow … closely bound up with Corbyn’s leadership
enclave. They represent a vocal minority causing suffering no one should endure”. of the Labour Party,” said British citizen Tom

business activity of Jews that continue to make the case for

the rights of a people who have lived under
Israeli occupation for generations – the Pal-
estinians – just as they have for decades.
But she added: “I believe the current tragic
events are a direct result of years of abuse,
repression, violence and deprivation imple-
mented by the State of Israel.”
London, referring to the strident pro-Pales-
tinian convictions of former United Kingdom
opposition leader Jeremy Corbyn.
He added to Al Jazeera: “I got plenty of
ards further in the three months through Septem- “Israel claims Jews as its national as- Jews — including Israeli Jews — voic- abuse then on X, including describing me
ECONOMY – FRANKFURT
ber due to higher borrowing costs and the worsen- set, and it weaponises us, as Jews – both ing their condemnation of Israel’s conduct as an anti-Semite and saying I was lying
ing economic backdrop, the ECB said Tuesday in as bodies in the demographic battle against the Palestinians is not a new phe- about being Jewish. Someone once went
TBS REPORT
its quarterly Bank Lending Survey. vis-a-vis non-Jews and particularly Pal- nomenon. So-called Israeli refuseniks – citi- through every tweet I had ever sent – but
Private-sector activity in the euro area kicked off Data for the third quarter due a week from now estinians, and ideologically as born rep- zens of Israel who have snubbed its com- found nothing to help their vile and ridicu-
the final quarter of 2023 with another dismal show- are likely to show euro-area output contracted resentatives of the Jewish state – [and] pulsory military service laws in protest of lous claim that I was an anti-Semite.”
ing, suggesting the region’s economy may be in re- 0.1% in the period, according to Bloomberg Eco- seeks to do that to Jews worldwide,” the country’s treatment of the Palestinians – At the time of this writing, a Jewish Voice
cession, Bloomberg reported. nomics’s Nowcast. That would be the first quar- Ofir told Al Jazeera. “That claim, in turn, have often served jail time for their principles. for Peace petition, calling for an immedi-
S&P Global’s purchasing managers’ index terly contraction since the pandemic, though the makes [us] the human shields of the Joseph Abileah, an Austrian-born mu- ate end to the Israeli attack on Gaza, has
slowed to a three-year low in October, dropping economy did repeatedly fail to grow. state, as it assaults Palestinians under its sician, is widely considered to be the first gathered more than 1,300 signatures from
to 46.5 — clearly below the 50 mark that separates That weakness may focus ECB officials meeting settler-colonialist agenda, be it through individual in Israel to stand trial for refus- Israeli citizens living in Israel, Palestine and
expansion and contraction. Economists expected this week in Athens. After a record tightening cycle ongoing ethnic cleansing, through siege ing to serve in the Israeli military, doing abroad. “As a Jew, and particularly as an
a slight improvement to 47.4. of 10 consecutive interest-rate hikes, policymakers or through seasonal massacres.” so just months after the Jewish state was Israeli Jew, I feel it is incumbent upon me
“In the euro zone, things are moving from bad have indicated that they’ll keep borrowing costs Naama Farjoun largely grew up in Je- established in 1948. The violinist managed to say that this is not in my name, and I will
to worse,” according to Cyrus de la Rubia, chief on hold for some time. rusalem, but has long described herself as to escape a prison sentence, and his stance fight it as such,” asserted Ofir. “Because
economist at Hamburg Commercial Bank. “We The “PMI survey indicates downside risks to an anti-Zionist Jew. In January 2001, she paved the way for generations of Israeli freedom, justice and equality for Palestin-
wouldn’t be caught off guard to see a mild reces- the economy from monetary tightening may be left Israel, just months after the outbreak of conscientious objectors. ians is a necessity, and if that necessity
sion in the euro zone in the second half of this materialising and output could contract in the fi- the second Intifada. Today, the 54-year-old Yet just as Israel’s refuseniks often face doesn’t get sufficed, it is not only harming
year, with two back-to-back quarters of negative nal quarter of the year. However, while inflation is lives on the outskirts of Valencia, Spain. backlash for their convictions, so too do them, it will come to haunt Jews.”
growth.” decelerating, it remains too high for the European “I left [Israel] because I could not bear pro-Palestinian Jews elsewhere. “We need to … work towards a shared
The euro swung to a loss against the dollar, Central Bank and Bloomberg Economics doesn’t the burden of being a privileged [Israeli] It is, said one European resident, rarely future where we do not harm each other –
falling as much as 0.1% to $1.0655 and snapping expect the Governing Council to change course,” citizen in a racist state,” said the mother of easy to publicly support Palestine and con- we need to create a culture of peace. Jewish
a three-day rising streak. Bonds held onto ear- said Bloomberg economist David Powell. two, who said that she was daily angered demn Israel as a self-declared Jew. supremacy will not achieve that.”
lier gains, which sent the 10-year German yield Traders priced in more easing by the central
as much as 8 basis points lower to 2.79%. Bund bank next year to support the economy, with a
yields are trading around 20 basis points off a peak
touched earlier this month.
quarter-point cut fully seen by June. They still view
a pause later this week as all but guaranteed.
Freed Israeli hostage
The currency bloc’s economy faces several October’s PMI downturn was broad-based CONTINUED FROM PAGE 9 the medicines they needed. all our needs.”
headwinds, including a rate-hiking campaign by across the euro area, S&P Global said. Indicators beneath the coastal territory. “They took good care of the wound- Speaking to Reuters on Monday, her
the European Central Bank and a slowdown in based on business surveys in the currency blocks’ A group of five people from her kib- ed,” Lifshitz said. Video of her release grandson said Lifshitz was a peace activ-
global activity. Rising energy prices as a result of top two economies — France and Germany — re- butz were held together, each with an in- on Monday showed her turning around ist who used to help sick Palestinians in
the conflict in the Middle East risk exacerbating its mained well below the 50 mark, and the contrac- dividual guard who stayed with them 24 to shake the hand of a masked captor. Gaza receive medical treatment in Israel,
difficulties. tion affected manufacturing as well as services in hours a day. Lifshitz said a doctor visited Asked why she had done that, she re- meeting them at the main border cross-
Banks in the euro zone tightened credit stand- both countries. them every other day and brought them plied: “They treated us gently and met ing and driving them to hospitals.

Big tech cannot be regulated US urges Israel hold off Gaza invasion ahead of China
CONTINUED FROM PAGE 8 for us, because we have forfeited full ownership of CONTINUED FROM PAGE 9 China in July. “We will do what we need to do,
What made Big Tech different from IBM was a stu- our minds. Every proletarian is turning into a cloud- their answers are, to the kinds of tough A second working group will meet when we need to do it,” Israel’s Deputy
pendous singularity. No, its machines did not be- prole during working hours and into a cloud-serf questions that any military ought to be Wednesday evening Washington time to Ambassador to Washington Eliav Ben-
come sentient, Terminator-style. They did something the rest of the time. Every self-employed struggler asking.” discuss financial topics. jamin on told Israel’s Army Radio Mon-
more interesting: they transformed themselves, with mutates into a cloud-vassal and a cloud-serf. While A US defence official said that The crisis in Gaza has become a new day, playing down US sway on planning
the help of snazzy algorithms, from produced means private capital strips all physical assets around us, Defense Secretary Lloyd Austin – in point of division between Beijing and for an offensive.
of computation to produced means of behavioral cloud capital goes about the business of stripping many phone calls with his Israeli coun- Washington. Last week, the US’s top Since Sunday, Israel has signalled
modification. In our capacity as consumers, Big our mental assets. So, what must we do? To own our terpart – had emphasized the need to diplomat in China, Nicholas Burns, a shift in tactics by sending infantry,
Tech’s cloud capital (such as Alexa, Siri, Google As- minds individually, we must own cloud capital col- be prepared for knock-on effects of a called on China to denounce terrorism backed by tanks, on probing incursions
sistant) trains us to train it to offer us good recom- lectively. It’s the only way we can turn cloud capital ground offensive, which include the by Hamas. of Gaza that have touched off clashes
mendations of what to buy. Once cloud capital has from a produced means of behavior modification risks of widening conflict in the region, On Monday, China again acknowl- with Hamas fighters. It has also been
our trust, it sells the stuff it selects for us directly to into a produced means of human collaboration and the fate of hostages and the humanitar- edged that Israel has the right to defend focusing air strikes on what it described
us, bypassing all markets. emancipation. It may sound pie-in-the-sky. But it is ian crisis. itself against Hamas while also call- as areas where Hamas is assembling its
Cloud capital’s owners, the cloudalists, charge less utopian than putting our hopes in government US officials have urged Israel to ing on it to consider civilians. “Every fighters to ambush any invasion.
these vassal producers cloud rents while we, the us- regulation of Big Tech. follow the laws of war in any invasion country has the right to self-defense but Advising Israel to hold off on a
ers, work for free – with every scroll, like, share, or re- of Gaza, which is home to 2.3 million should abide by international humani- ground offensive also allows Washing-
YANIS VAROUFAKIS, A FORMER FINANCE MINISTER OF
view – to replenish their cloud capital. As for the prole- GREECE, IS LEADER OF THE MERA25 PARTY AND PROFESSOR people. tarian law and protect civilians,” Wang ton to prepare for any possible retalia-
tarians in the factories and warehouses, they, too, are OF ECONOMICS AT THE UNIVERSITY OF ATHENS. told his Israeli counterpart Eli Cohen in tory attacks against US interests in the
hooked into the same cloud capital, with hand-held or Discussing global issues a telephone call. region as fears of a spillover grow, par-
wrist-mounted devices that drive them, like robots, to Disclaimer: This article first appeared on Project of shared interest Wang told Palestinian Foreign ticularly between Israel and Lebanon’s
work faster under the algorithm’s watchful eye. Syndicate, and is published by special syndica- China confirmed Wang’s trip, with For- Minister Riyad al-Maliki in a separate heavily-armed, Iran-backed Hezbollah
Under techno-feudalism, regulators can do little tion arrangement. eign Ministry spokeswoman Mao Ning call the same day that China “deeply group.
saying Tuesday at a regular briefing in sympathizes with the difficult situation “We expect that there’s a likelihood
Beijing that he’d meet high-level offi- of the Palestinian side, especially the of escalation ... We are taking steps to
Net present value of a homemaker cials to discuss “international issues of
shared interest.”
people of Gaza.”
During the meetings in Washington,
make sure that we can effectively defend
our people and respond decisively if we
CONTINUED FROM PAGE 8 ily her whole life. I have not seen her taking a day Wang’s visit will be the first by Chi- US officials will also engage Wang over need to,” US Secretary of State Antony
compared to an organisation setting. Many organisa- off from her regular days. Some may argue that this na’s top foreign policy official since Russia’s invasion of Ukraine and North Blinken told NBC on Sunday.
tion leaders would love to get employees who can is something all mothers do, so what is wrong with March 2021. Back then, Yang Jiechi and Korea’s weapons program, the senior Washington has also grown
handle such pressure and work continuously and it? But we ought to consider whether we should Blinken bickered in Alaska over human Biden administration officials said. concerned over the desire among
simultaneously, without the small breaks we tend to promote this patriarchal mindset among the newer rights, trade and international alliances. They said the meeting was part of ef- some senior Israeli officials, includ-
get in offices. Often motherly duties, children’s stud- generation. The two nations have been trying to sta- forts to manage US-China relations re- ing the Defense Minister Yoav Gallant,
ies, and providing care and attention are mostly sin- I do have daughters, do I or we, want the same bilize their relationship recently, with sponsibly and didn’t outline any clear advocating for a pre-emptive strike on
gle-handedly performed by mothers, as the fathers for them? At the time of marriage in a patriarchal set- the US sending a string of high-level of- deliverables from the visit. Hezbollah.
tend to be out for their duties. On all these issues, ting, the husband may think their wife’s net present ficials to Beijing. Israel would have a difficult time
it becomes difficult for a housewife to manage her value is a high negative. But in reality, the net pre- On Tuesday, US Treasury staff and US defence against fighting a war on two fronts simulta-
time between her children, husband and household sent value of a housewife is actually a high positive counterparts from China held the first Middle East attacks neously if Hezbollah launches a full-
chores, which can lead to losing personal identity and may even be more than the husband. It is high meeting of a new working group dedi- Israeli officials have increasingly sig- scale fight in the north, US officials say.
and ambitions. time we alter our wrong learnings and start respect- cated to discussing economic topics. nalled in public that a Gaza invasion Washington has sent two aircraft carrier
So, when comparing leaving their career and ing the contribution of homemakers. China and the US agreed to establish could be imminent. None has given a groups to the eastern Mediterranean to
handling other family matters, the former’s impact two groups dedicated to holding regu- hard date, however, or said that there bolster its presence in the region and act
DR MOHAMMAD NAVEED AHMED IS THE MANAGING DIRECTOR
on the net present value would be negative, but the OF MIYAKO APPLIANCE LIMITED, BANGLADESH AND THE FIRST lar, staff level sit-downs following has been a deferment. Israel has called primarily as a deterrent to Israel’s other
latter would be a high positive. And it would be in DBA FROM IBA, UNIVERSITY OF DHAKA. HE ALSO SERVES Treasury Secretary Janet Yellen’s visit to up a record 300,000 military reservists. Middle Eastern foes.
extreme figures if the family is joint, as that is more AS AN ADJUNCT ASSOCIATE PROFESSOR AT INDEPENDENT
labour intensive. UNIVERSITY BANGLADESH AND JOINT CONVENOR AT THE
DHAKA CHAMBER OF COMMERCE AND INDUSTRIES.
In my observation, my wife, who is representing
the homemaker in this article, has changed the out- Disclaimer: The views and opinions expressed
look of her friends as well. This article also applies in this article are those of the author and do not
to my mother who had done this thankless job not necessarily reflect the opinions and views of The
only for her family, but also for our extended fam- Business Standard.
THE BUSINESS STANDARD

SPORTS WEDNESDAY 25.10.2023

11
Pakistan’s
World Cup
campaign
in danger
CRICKET - INDIA

TBS REPORT
Pakistan captain Babar Azam
rued his team’s failure to put
pressure on Afghanistan with
spin in Monday’s eight-wicket
loss at the World Cup.
Pakistani spinners took no wick-
ets in Chennai as their combined 21
overs conceded 6.23 runs an over.
Afghanistan chased down the target
of 283 with eight wickets to spare.
Spinners have taken only one
wicket for Pakistan in their last
three matches, all of which the
1992 champions lost as they fell
to fifth place.
“In the middle overs, the spin-
ners didn’t bowl as they should
have. They didn’t put pressure on
(the opponents),” a dejected Ba-
bar told reporters.
“When we came here, I saw
that the margin of error is very
Bangladesh’s batting failed once again and this has been one of the biggest reasons why their World Cup campaign has not gone well. PHOTO: REUTERS low for bowlers. If you bowl a lit-

Tigers burnt by Protea fire

tle bit away from the wicket, you
will get hit on that ball. So, we are
lacking there a little bit.”
In contrast, Afghan spinners
bowled a combined 38 overs and
picked up four crucial wickets at
an economy rate of 4.63; one of the
highest uses of spin by any team
form Mushfiqur Rahim (8 runs from South Africa blasted 144 in the of Van der Dussen by having him agement and Hasan Mahmud had a in World Cup history. Afghanistan
CRICKET - INDIA
17 balls), captain Shakib Al Hasan (1 last 10 overs and they were 238/3 af- trapped in front. poor day with the ball. coach Jonathan Trott said the pitch
from 4 balls), opener Tanzid Hasan ter 40 overs. Bangladesh kept the pressure His first three overs went for 33 conditions favoured spinners.
SHAHNOOR RABBANI
Tamim (12 from 17 balls) and Najmul Shakib, on the eve of the match, on for the new batter and stand-in runs as the pressure was released “I think when you’ve got the
Bangladesh’s bowlers really had Hossain Shanto (0 from 1 ball). had jokingly said to the press that captain Aiden Markram as regular and South Africa started to form a options like we do it’s foolish not
very little option but to sweat and It was Shanto’s second golden they should pray Bangladesh win South Africa captain Temba Bavuma partnership between Markram and to use them, certainly when look-
suffer under the heat of Mumbai and duck this tournament and apart from the toss because South Africa missed out due to illness. de Kock. ing at that pitch today,” he said.
the South African batting firepower the 59 not out against Afghanistan in had won every game this World Shakib brought himself and the Mahmud bowled better at the Trott particularly praised 18
at the Wankhade in their ICC World the first match, his others scores are Cup batting first and posting three other spinners on to bowl in tandem death with some useful slower balls year-old Noor Ahmad who took
Cup 2023 match on Tuesday. seven and eight. of the highest scores this and keep the runs in check. but was still the most expensive three major wickets in his World
The batters were however weak The constant chopping and tournament. Nasum Ahmed and even Mah- bowler giving away 67 runs from just Cup debut, giving away just 49
and timid and gave their wickets changing of the batting order seems That unfortunately didn’t happen mudullah Riyad got an opportunity six overs with two wickets. runs in his 10 overs.
away to a lot of bad balls as Bang- to have made things worse for Bang- and Bangladesh had to face the mu- to bowl. One may also find some sym- “As soon as he got that length
ladesh suffered their fourth defeat in ladesh and even their in-form batters sic and bowl first. Nasum bowled five overs and pathy for Towhid Hridoy, who was right, he spins the ball so much,”
a row and their chances of reaching struggled to score big. But the Tigers started really well gave away just 27 runs and Mah- dropped after being chopped and the coach said. “When he’s prac-
the semis look a distant dream. One of the biggest victims of that with the ball, getting rid of Reeza mudullah bowled three overs giving changed in the batting order too ticing, you hear that ball fizzing.”
The Proteas on the other hand has been Mehidy Hasan Miraz, who Hendricks and Rassie van der Dus- away 20. much this World Cup. Afghan spinners also played a
have strengthened their grip in the was demoted to no.8 today and was sen in the Powerplay and South Af- Miraz was however the most The right-handed batter has obvi- key role in their shock 69-run win
top four and move up to second out for 11 after facing 19 balls. rica were 36/2. impressive spinner of the lot, and ously lost his form but in a ground over defending champions Eng-
place in the points table with four Having lost the toss, Shakib Al Left-arm pacer Shoriful Islam was bowled seven overs at a stretch in his with a flat wicket and short bounda- land earlier in the tournament,
wins from five games. Hasan and his men bowled well dur- bowling extremely well and got the first spell, giving very few runs away ries, he might have gotten some con- taking eight wickets with Mujeeb
The woes for the top order con- ing the most part of the innings but ball to thread the gap between bat and ended with figures of 44/1 in his fidence back. Ur Rahman and Rashid Khan
tinued for Bangladesh as they lost eventually, a 174 from Quinton de and pad to rattle the stumps of Hen- nine overs. Mustafizur Rahman started off claiming three each.
four top-order wickets in the first 10 Kock and a 90 from Heinrich Klaasen dricks. But perhaps going with three well but his figures took a battering The two wins helped propel
overs. powered the Proteas to 382/5 in their Mehidy Hasan Miraz was brought seamers was a mistake from captain during the death overs as he gave the Afghans from bottom of the
Those wickets included the in- 50 overs. on early and soon he took the wicket Shakib and the Bangladesh man- away 76 runs in his nine overs. table to sixth place.

Possible XIs
Australia
• David Warner
• Travis Head
• Mitchell Marsh
• Steve Smith
• Glenn Maxwell
• Marcus Stoinis
• Josh Inglis (wk)
• Pat Cummins (capt)
• Mitchell Starc
• Adam Zampa
• Josh Hazlewood

The Netherlands
• Vikramjit Singh
• Max O’Dowd
• Bas de Leede
• Scott Edwards (capt &wk)
• Colin Ackermann
• Wesley Barresi
• Sybrand Engelbrecht
• Aryan Dutt
• Roelof van der Merwe
• Paul van Meekeren
• Logan van Beek

AUSTRALIA VS THE NETHERLANDS

Head-to-head in ODIs MATCHES: 2 Head-to-head in ICC World Cups MATCHES: 2
AUSTRALIA THE NETHERLANDS: AUSTRALIA THE NETHERLANDS:
WON: 2 0 WON: 2 0

Aussies look to strengthen top four spot

so far. The solitary win came when they Warner has scored 228 runs in 4 matches at
CRICKET - INDIA
stunned South Africa by a 38-run margin an average of 57 and a strike rate of 109.09
in a rain-curtailed match. in the ongoing ICC Cricket World Cup 2023.
TBS REPORT
The Dutch team is placed eighth in the He has smashed 1 century and achieved
Australia will face the Netherlands in ICC Cricket World Cup 2023 group stand- the highest score of 163 against Pakistan.
Match 24 of the ICC Cricket World Cup at ings with two points from four matches. Colin Ackermann: The Netherlands’
the Arun Jaitley Stadium in New Delhi, In- The average first innings score in the Colin Ackermann has amassed 127 runs
dia. The match commences at 02:00 PM. last 10 matches at the Arun Jaitley Stadium in 4 matches and is the team’s number-
The Australian cricket team got off to in New Delhi has been 258. Setting up a tar- one run-scorer in this edition. He enjoys a
a poor start in the ICC Cricket World Cup get first should be the preferred option at strike rate of 84.66 and averages 31.75. He
2023 losing two back-to-back matches this venue, with the team batting first win- also has 1 half-century to his name in the
against India and South Africa. However, ning 60 per cent of the matches. The venue ICC Cricket World Cup 2023.
the five-time champions have since re- is suited for spinners with the track expect- Adam Zampa: The Australia leg-spinner
grouped to beat Sri Lanka and Pakistan to ed to get slower as the game progresses. has scalped 9 wickets in 4 matches. Adam
get their campaign back on track. The temperature will be a bit cooler Zampa’s best figures in this edition of
Australia, captained by Pat Cummins, with a cover of clouds at the Arun Jaitley World Cup is 4/47 and he averages 24.77.
are currently fourth in the ICC Cricket Stadium in Delhi. The weather is expected Bas de Leede: The Netherlands bowler
World Cup 2023 league standings with four to be 31.6C with 21% humidity. has racked up 7 wickets in 4 matches so far
points from four matches. at an average of 27.28. Bas de Leede’s 4/62
The Netherlands, meanwhile, have only Players to watch is his finest bowling show of ICC Cricket
one win from four matches to their name David Warner: Australia batter David World Cup 2023.
12 WEDNESDAY 25.10.2023

PANORAMA THE BUSINESS STANDARD

ISRAEL, GAZA FACEBOOK MARKETPLACE

What are the rules of international law? Buy, sell

and make
friends too?
FEATURE

ZANNAT HUSNA

Marketplace is a great flea market,

Matthias von Hein
Journalist especially for people living in
Dhaka. However, it comes with
Israel is retaliating after some challenges
the Hamas terrorist
attacks with massive
I
lma, a 22-year-old homemaker living in Jigatola, start-
ed using Facebook Marketplace when her mother-in-
bombings, a total law wanted to sell her sharis.
The mother-in-law had preserved a closet full of this
blockade of the Gaza garment for decades on end and now wanted to part ways
with the prized possessions. But none of her daughters or
Strip and possibly daughter-in-law was particularly interested in them. They
a ground offensive. all wear salwar kamiz and only occasionally don sharis
for events.
What is covered by Since 7 October, around 6,000 bombs have been dropped on Gaza and over 5,000 people have been killed. PHOTO: REUTERS It took some time for Ilma to realise that her mother-
in-law’s intention to sell was genuine. That’s when she
international law — state of war. The day after the mas- ants, between civilian objects and If Hamas positions a started to look for options.
sacre in southern Israel, Netanyahu military targets. “I posted ads on Bikroy.com first. Weeks went by, but
and what constitutes said explicitly that Israel would lay That only means, however, that
missile installation
no one responded. Then I noticed that Facebook has the
in a civilian
a war crime? to ruin every place where Hamas was
operating or hiding.
civilians or civilian facilities are not
allowed to be knowingly targeted in neighbourhood,
Marketplace option where I could post pictures and the
prices of the sharis. And once I did, the response was
Israel has the right

W
Since then, Israel has been bomb- attacks. So, the killing of civilians is wonderful.”
ar is the use of organised ing Gaza. Around 6,000 bombs were only forbidden when there is proof to attack this missile “We sold five sharis within a week,” Ilma recounted.
violence to achieve politi- dropped on Gaza — an area equiva- that it was done deliberately. installation — even Last month, after having her first baby, Ilma sold a
cal goals. Constraining this lent in size to the city of Detroit — in In practice, law professor Talmon Pureit classic water filter to a buyer from Kalabagan. “We
violence within a framework of rules just six days, with the bombing cam- explained, that means: “If Hamas
at the expense of no longer needed the older filter as my husband bought
is the aim of international law. Things paign continuing unabated. Over positions a missile installation in a what is terribly called an automatic one. So, I put up an ad on Facebook Mar-
become complicated, however, when 5,000 people have been killed in civilian neighborhood, Israel has ‘collateral damage’ ketplace, and within a few hours, someone from Kalaba-
this idea meets the messy reality in Is- Gaza, though the actual death toll the right to attack this missile instal- among the civilian gan [moderately close to Jigatola] texted and asked if she
rael and Gaza. there is likely much higher. lation — even at the expense of what population. And this could come and look at the filter.”
There is clarity about the brutal Four days after the attack, Israeli is terribly called ‘collateral damage’ In October 2016, Facebook launched Marketplace to
attack on 7 October, when Hamas army spokesperson Daniel Hagari among the civilian population. And
collateral damage allow people to buy and sell items locally in the United
fighters entered Israel, killed more said that “hundreds of tons of bombs” this collateral damage can, depend- can, depending on States, United Kingdom, Australia and New Zealand. By
than 1,300 people and kidnapped al- had already been fired at Gaza, add- ing on the military goal and need, the military goal and 2022, Facebook extended Marketplace’s availability to 70
most 200 hostages. Stefan Talmon, a ing that “the emphasis is on damage also be very high.” need, also be very countries, including Bangladesh.
Germany-based international law ex- and not on accuracy.” It is almost impossible to differenti- high. Recently, Facebook announced that over one billion
pert, views this in the first instance as ate between civilian and military tar- people use Facebook Marketplace monthly. According to
“mass murder.” Self-defense — within limits gets according to international law in Statista, 485 million people log in to Facebook for the sole
However, considering the long his- Israel’s right to self-defense against the Gaza Strip, which has been under purpose of shopping on Facebook Marketplace.
tory between Israel and the Palestin- armed attack according to Article 51 Israeli and Egyptian blockade since Facebook is the most popular social media platform in
ians he also concludes: “Because of of the United Nations Charter is in- 2007 and is one of the most densely Bangladesh.
the scale and intensity of this attack disputable. This right, however, is populated and built-up areas on Earth. According to StatCounter Global Stats, as of Septem-
on 7 October, international law would restricted by international humani- Hamas tunnels run under apartment ber 2023, there are 52.7 million Facebook users in Bang-
consider that we are dealing with an tarian law. Here, one of the most im- buildings; Hamas facilities are located ladesh, meaning a significant portion of Facebook Mar-
armed conflict here.” portant principles is differentiation: in residential and office buildings. In- ketplace users are likely from here. However, there is no
Israeli Prime Minister Benjamin The warring parties must differenti- ternational law does not really account publicly available data on the exact number of Facebook
Netanyahu accordingly declared a ate between civilians and combat- for this. I SEE PAGE 6 COL 6 Marketplace users from Bangladesh. Facebook does not
release the information.

One curious issue Atik faces after

posting an ad on the Marketplace is that
people from India often text and ask
for his products since Rajshahi shares
a border with India and Marketplace
targets the local community. “When I
tell them they have to cross the border
to buy my products, we often share a
good laugh.”

The Marketplace, which holds immense popularity in

the Bangladeshi e-commerce scene, has become a thriv-
ing platform for individuals to buy and sell products with-
out switching to a different app or website like Daraz or
Bikroy.com.
During the Covid-19 pandemic, Atik Hossain Zisan, a
camera enthusiast from Rajshahi, listed a Canon 18-55mm
lens for sale on Facebook Marketplace. What interested
him the most about Facebook’s new feature was how he
could list an item and select a price – and then Facebook
automatically suggested different groups to post his ad.
Since then, Atik has bought three and sold two cameras
Train accidents are not rare in Bangladesh. But in most cases, they are caused by derailment of trains due to the dilapidated and and numerous lenses through Facebook Marketplace. “[It]
under-maintained railway lines. PHOTO: EASHFINUL HAQUE MUNIM is more convenient and engaging than similar platforms for
buying and selling products. You’re already scrolling on
Directorate of Fire Service and Civil Defence Facebook most of the time, and buying and selling some-

When
have formed two different investigation com- thing is just one tap away,” Atik explained.
mittees to probe the accident. Atik, like Ilma, was also a regular user of Bikroy.com,
Ariful Islam Mithu Professor Shamsul Hoque, director of Bang- an advertising website owned by Saltside Technologies.

will the
Journalist ladesh University of Engineering and Technol- However, he uninstalled the Bikroy.com app once he be-
ogy’s (Buet) Accident Research Institute, said came a regular at Facebook Marketplace.
the Bhairab accident indicates that we have a “For a long time, Bikroy.com was Bangladesh’s most

devastating
A N A LY S I S
weakness in the operational management of popular platform for selling and buying used products.

T
railways and it is deteriorating day by day. But the primary reason Facebook Marketplace gained
he collision of the Egarosindhur Express He said that the government is investing in de- popularity over platforms like Bikroy.com is the reach the

train
with a freight train at Bhairab Station on veloping infrastructures but the operational side, individual sellers get.”
Monday has left 17 people dead. which is human resource-based, is being over- Like Facebook Marketplace, anyone with an account
The accident is one of the most serious ones looked. The railway lacks training of its human can list their items for free on Bikroy.com. “But, for a bet-

accidents
in the country in recent times. It is still a mys- resources and there is a lack of accountability too. ter reach,” Atik further explained,
tery how a devastating train accident such as “The problem is, although we are slowing “you’d have to pay the platform a certain amount, which
this one took place in broad daylight. down the speed of the trains to reduce risk, we is determined by the price of your listed item. The more

stop?
Kishoreganj’s Bhairab Railway Station Mas- cannot stop the accidents,” said Shamsul Hoque. expensive the item you want to sell, the more you must
ter Md Yousuf provided a narrative. He claimed “It is not a third-party-caused accident like pay Bikroy.com for reach.”
that if the freight train’s Locomotive Master those occurring at level crossings. Here, railways’ According to Atik, easy access to the Marketplace can
waited for only 30 seconds, the accident could own employees lacked sincerity,” he added. be very addictive. He often finds himself in a loop of sell-
have been averted. He said that he analysed the video footage ing and buying similar products within a few months. For
Although overall train “The accident unfolded as a result of the and found that the Locomotive Master was driv- example, he bought a Canon 10-18mm lens from Bikroy.
container train driver’s reckless attempt to en- ing the train like a car driver on the road. “He was com in 2019. Since he did not use the lens that much, in
accidents have reduced ter the station without waiting for the signal,” blowing the whistle but did not pull the brakes.” 2021, he sold it on Facebook Marketplace, only to find
he told The Business Standard. He said that usually, when we drive on the himself buying another lens of the same model the fol-
over the past decade, He also said that the Egarosindhur Express road, we use the whistle/horn to allow people lowing year.
yesterday’s collision near had set off for Dhaka after receiving a signal to move aside. “Marketplace is a great flea market, especially for people
from the station. “There is a train. Where will the train move?” living in Dhaka. It can be tricky to navigate the platform and
Bhairab Railway Station To enter the station, a train must pass two asked Shamsul Hoque, adding, “This incident avoid the swindlers in peripheral places though,” Atik said.
signals: the outer signal and the home signal. reveals that it is the Locomotive Master’s habit.
showed that authorities Md Yousuf said that the container train had He should have pulled the brake hard.” He said Navigating the murky ‘swindling’ waters
been instructed to wait behind the outer signal. that this means there is a lack of basic training Last year, Atik saw an ad in his area where a person listed
still have a long way to go Meanwhile, the Ministry of Railways and the as well as overall supervision. I SEE PAGE 6 COL 1 a Canon 6D camera at Tk20,000. I SEE PAGE 6 COL 1
THE BUSINESS STANDARD WEDNESDAY 25.10.2023 Turn the page for Special Aviation Supplement
 14 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023

Continued
investment
in airport
infrastructure
vital to growth
of Bangladesh’s
aviation
industry

PHOTO: COURTESY
Singapore Airlines (SIA) received the alised customer experience and leveraging The global aviation market is growing
world’s best airline award in Paris in June technology to deliver world-class service for at over a 3% annual average rate and
this year. Another ranking places SIA at our customers. is projected to reach $635 billion by
the second. What are the strengths that We continue to make multi-million dollar 2030. Where do you expect to see
keep SIA above other global giants? investments in our products and services to SIA in the aviation world by then?
We are very grateful to our customers for their delight our customers both on the ground and We are confident about the future of air travel.
enduring loyalty and affection for Singapore in the air with state-of-the-art technology. For The Group’s commitment to offering best-in-
As one of the top airlines in the world, Airlines. During the pandemic, their support example, customers in all cabin classes are class products and services, our agility and resil-
Singapore Airlines continues to and encouragement gave us the strength and
determination to overcome the unprecedented
now able to enjoy complimentary in-flight Wi-
Fi when travelling on SIA-operated flights.
ience, as well as our dedicated and talented staff
members, will continue to help us strengthen
dominate the global field. The Business challenges. SIA makes significant investments in buy- our leadership position in the airline industry.
As we recover from the pandemic, we re- ing and operating new-generation aircraft to
Standard spoke to Timothy Ouyang, main firmly committed to innovating and in- ensure that we maintain a young and modern What will be the driving force of future
vesting in industry-leading products and ser- fleet, helping to achieve further operating ef- growth in the aviation industry?
General Manager of Singapore Airlines, vices, and ensuring that SIA continues to offer ficiencies and support ongoing efforts to mate- Sustainability is a key driving force for the fu-
Bangladesh to discuss SIA’s future plans our customers a world-class travel experience.
We continue to invest in the three pillars
rially lower carbon emissions. As of 1 October
2023, the SIA Group has a total of 202 aircraft in
ture of the airline industry and is a key part of
the SIA Group’s strategy.
in Bangladesh of SIA’s brand promise of service excellence, its fleet and another 96 aircraft on firm order. The Group supports the United Nations 2030
product leadership and network connectivity. The Group is also focused on enhancing Agenda for Sustainable Development, which out-
This builds on our long-standing strengths and our network through both organic growth and lines 17 Sustainable Development Goals (SDGs).
will help ensure that we retain our leadership strengthening our partnerships with other air- We have a long-standing strategy of work-
position. lines. As of 1 October 2023, our route network ing towards decarbonisation and environmen-
In the area of service excellence, we focus including codeshare partners extends to 371 tal sustainability across our operations by im-
our efforts on providing seamless and person- destinations in 81 countries and territories. plementing environmental,  I SEE PAGE 17

WELCOME
TO WORLD
CLASS

S
ingapore Airlines, one of the world’s
best airlines, has set the gold stand-
ard for service excellence in the avia-
tion industry since its inception. Renowned
for its unparalleled service, state-of-the-art
fleet, and commitment to innovation, Singa-
pore Airlines continues to be a top choice for
travellers seeking a world-class travel expe-
rience.
Founded in 1947 as Malayan Airways, the
airline transformed into Singapore Airlines
in 1972. The carrier has been helping pas-
sengers from Dhaka connect to the world via
Singapore since 29 October 1986.
From the beginning, it had lofty ambi-
tions. Over the years, Singapore Airlines has
consistently lived up to these ambitions,
carving out a reputation for itself as an in-
dustry leader. In 2023, the airline took the
prize of “Best Airline” as well as the “Best
First Class Airline” by Skytrax for the fifth
time.
PHOTOS: COURTESY

So what sets Singapore Airlines apart?

State-of-the-art fleet
Singapore Airlines boasts a young and mod-
ern fleet of 140 aircraft that includes Airbus
A380s and A350-900s as well as Boeing 777s
and B787-10 Dreamliners among others. As BUSINESS CLASS ECONOMY CLASS
of 1 October 2023, the average age of its pas-
senger fleet was 6 years and 4 months, and mable windows, cleaner air, and a quieter SIA has a longstanding commitment Airlines can stay updated with current af- Flying with Singapore Airlines
has 58 aircraft on firm order. and smoother ride. SIA customers travelling to innovating and investing in industry- fairs and the latest sporting events even at Singapore Airlines currently offers two classes
SIA is the first airline to fly the Boeing in Business Class enjoy the comfort of seats leading inflight products and services to 40,000 feet in the air. of travel from Dhaka: Economy Class and Busi-
787-10 Dreamliner, which is currently oper- that recline into fully-flat beds with direct ensure that it continues to offer its custom- Singapore Airlines is also known for its ness Class. However, its customers travelling
ated on its daily services from Dhaka to Sin- aisle access. ers a world-class travel experience. One exceptional in-flight dining experience. SIA beyond Singapore also have a choice of Suites,
gapore. SIA’s 787-10s are fitted with Rolls- such highlight is Singapore Airlines’ Kris- works with a team of world-renowned chefs First Class and Premium Economy Class.
Royce Trent 1000 TEN engines and 337 seats Welcome to World Class World in-flight entertainment system – one to create new dishes and a wide range of in- Available exclusively on the Singapore
(36 seats in Business Class and 301 seats in Service excellence is deeply ingrained in of the most comprehensive in the industry ternational cuisine that cater to a variety of Airlines Airbus A380 aircraft, customers
Economy Class). Singapore Airlines’ DNA and its customers with over 1,900 on-demand entertainment tastes. Passengers travelling in Suites, First can experience a sense of exclusivity and
Constructed using lightweight composite are at the heart of everything that the airline options including movies, TV shows, and Class and Business Class out of Singapore intimate privacy in each of the six luxurious
materials, the 68-metre 787-10 is the longest does. While SIA’s cabin crew are renowned music albums – which can be customised may pre-order its “Book the Cook” service Suites that have been touted as hotel rooms
variant of Boeing’s Dreamliner range of air- for their impeccable service standards and through its mobile app. KrisFlyer mem- from an extensive list of international cuisine in the sky. Behind each artistically-designed
craft. With exceptional operating efficiency warm hospitality, many may not know that bers travelling across all cabin classes now and local Singapore meals like Singapore sliding door lies a personal oasis complete
and advanced technology, the 787-10s are the airline leverages on technology to en- enjoy complimentary unlimited inflight Laksa and Chicken Rice. Customers with with lavish furnishing and finishes that ex-
designed to offer a more tranquil cabin ex- hance its service standards by providing Wi-Fi internet connectivity throughout special dietary or religious requirements in ude quiet luxury. Each Suite is furnished
perience through customisable lighting seamless and personalised experiences for their flight. With new Live TV channels on all classes may also pre-book their meals at with a separate full-flat bed with adjustable
preferences with large electronically dim- its customers. board, passengers travelling on Singapore least 24 hours prior to departure. recline and plush leather  I SEE PAGE 17
 SPECIAL SUPPLEMENT ON AVIATION

WEDNESDAY 25.10.2023

ILLUSTRATION: TBS

How air transport helps

Bangladesh’s economy fly
The country is currently implementing various airport development projects, worth around Tk32,605 crore. Experts
believe these projects, along with policy support, could turn the country into a regional aviation hub

JEBUN NESA ALO AND KAMRAN SIDDIQUI The rising number of air travellers both in minal at the Dhaka airport.
You are probably aware

T
the international and domestic market indi- Another private airline, NovoAir, also
he booming aviation industry is taking cates that total passenger traffic will cross 12 started its journey in 2013 with only two 50-seat
the country a step ahead in economic million at the end of this year, although air- that Switzerland is often Embraer aircraft, but now has seven planes in
advancement by integrating it into the port capacity at present allows handling of 8 regarded as a central hub its fleet.
global economy. million passengers annually. The national carrier Biman now has the big-
International flights and the number of However, the third terminal, which is ex- in Europe. In a similar vein, gest and most modern fleet in its history, with
passengers travelling to and from Bangladesh pected to go into full operation next year, will Bangladesh possesses 21 aircraft, after adding 10 wide-bodied Boe-
nearly doubled from the pre-pandemic level. enhance passenger handling capacity to 24 ings in the last decade.
The total number of international air travellers million annually. the potential to serve as Biman is now planning to expand its fleet
was nearly 800,000 per month this year (till a strategic hub. With its more by adding Airbus planes to its fleet,
October), which was below 500,000 in the pre- More air travel, more growth while other private airlines are planning to en-
pandemic year of 2019. With rising air travel demand, the airline advantageous geographical ter the market as well.
The number of international flights per
month was nearly 3,500 this year, up from
industry also grew remarkably in the last
decade.
location, this country can The country is also opening up its sky by
connecting to more countries through Air Ser-
nearly 2,200 in 2019. For instance, US-Bangla, which started act as a pivotal transit point vice Agreements (ASAs).
Domestic air travel also grew steadily in the its journey with only eight Dash-8 aircraft At present Bangladesh has an ASA with 54
last five years with rising income levels. in 2013, now has 20 aircraft in its fleet. The
for global destinations. countries and 12 more are under process, ac-
Monthly domestic air passenger travel airline is planning to further expand its fleet ..... cording to the Ministry of Civil Aviation and
reached 170,000 this year, up from nearly by adding Airbus to its fleet in the next few AIR-VICE MARSHAL M MAFIDUR RAHMAN Tourism. ASA is an instrument that provides the
100,000 in 2019. years, targeting the opening of the third ter- CHAIRMAN, CAAB basis for airlines of the countries  I SEE PAGE 22
16 WEDNESDAY 25.10.2023 THE BUSINESS STANDARD
 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023
17
Welcome to known for its rewards programme KrisFlyer
for frequent travellers and the exclusive
invitation-only PPS Club for premium class
world class travellers.
KrisFlyer members can earn miles when
travelling on flights operated by Singapore
CONTINUED FROM PAGE 14 Airlines Group and other Star Alliance
chair lavishly upholstered in full-grain member airlines as well as from spend on
leather by Poltrona Frau, enabling custom- KrisShop and Pelago. The miles can be
ers to lounge comfortably in the chair or rest used to redeem award flights or upgrades,
in bed without the need to convert the bed and can also be converted to KrisPay miles
from a sitting position. For couples travel- for use as payments through lifestyle re-
ling together, the beds in the first two Suites wards mobile app Kris+.
of each aisle can be converted to form a Both KrisFlyer and PPS Club Members
double bed. When not in use, the bed can be enjoy a wide range of privileges including
stowed completely, creating even more per- priority seat confirmations, additional bag-
sonal space within each Suite. The dining gage allowance and lounge access depend-
experience in Suites is also unparalleled, ing on membership tier.
featuring fine bone china tableware from
Wedgwood, an exquisite inflight menu, or Sustainability the way forward
a main course prepared by an International The Singapore Airlines Group is committed
Culinary Panel of renowned chefs. to achieving net zero carbon emissions by
First Class offers passengers headrests 2050 through its long-standing strategy of
sculpted for ultimate comfort, plush back working towards decarbonisation and en-
cushions, and extended partitions for add- vironmental sustainability across its opera-
ed privacy. Hand-stitched luxurious leath- tions. To achieve this goal, the SIA Group’s
er, adjustable reading lights, and ambient airlines uses multiple levers including in-
cabin lighting enhance the overall experi- SUITES
vesting in new-generation aircraft, achiev-
ence. Dining in First Class mirrors a high- ing higher operational efficiency, adopting
end restaurant setting, with the option to of entertainment options. low-carbon technology such as sustainable
reserve a main course crafted by celebrated Premium Economy boasts wide seats, aviation fuels, and sourcing for high qual-
chefs from around the globe, much like calf rests, and footrests, ensuring en- ity carbon offsets. The SIA Group continues
Suites. Personalised service and an exten- hanced comfort. Two USB ports, adjustable to collaborate with like-minded partners to
sive wine selection further elevate the din- personal reading lights, and power sup- develop a robust sustainable aviation fuel
ing experience. plies for electronic devices are built into supply chain and carbon market.
Business Class is where rest meets pro- each seat. Singapore Airlines stands as a beacon
ductivity, offering passengers the flexibili- Economy Class passengers enjoy er- of excellence in the aviation world. With
ty to rest and work as they please. The seats gonomically designed backrests, six-way its unparalleled service, modern fleet, ex-
recline into full-flat beds with lowerable headrests, and an HD touchscreen monitor tensive route network, and commitment to
armrests, ensuring that even short flights with an enhanced KrisWorld entertainment innovation and sustainability, it continues
provide a chance to catch up on sleep. Am- system. to set the benchmark for the airline indus-
ple stowage options, a business panel with try. Whether you are a business traveller, a
essential connections, and an integrated Rewarding loyalty tourist, or a frequent flyer, Singapore Air-
reading light make it a haven for productiv- Apart from its top-notch service and in- lines offers a travel experience that is noth-
ity. An HD touchscreen offers a wide range BUSINESS CLASS PHOTOS: COURTESY flight products, Singapore Airlines is also ing short of extraordinary.

Continued investment in airport infrastructure

vital to growth of Bangladesh’s aviation industry
CONTINUED FROM PAGE 14
social and governance (EGS) initiatives. The
SIA currently operates daily services (7x weekly)
between Dhaka and Singapore, and we are looking
THE SINGAPORE AIRLINES STORY
Group’s ESG initiatives are focused on three pillars: to increase our frequency in 2024.
i) achieving net zero carbon emissions by 2050, ii)
reducing waste across our operations, and iii) mak- Airlines have been focusing on budget flights
ing a positive impact on society. and Scoot, your budget arm, has a strong
Some of our ESG initiatives include continued presence in SIA’s service. Do you think budget
investments in new generation aircraft, such as flights should expand more to help travellers
the Airbus A350s and Boeing 787s, which burn up with their air trips within their budget?
to 25% less fuel than older generation aircraft and The Group is committed to its portfolio strategy,
help us achieve higher operational efficiencies. with SIA serving the full-service market and Scoot, On 1 May, the Malayan Airways
SIA also continues to collaborate with govern- serving the low-fare market segment. This ensures Limited Airspeed Consul takes
1947

ments, the airline industry and partners such as air- that the Group is able to deploy the right vehicles off from Singapore Kallang
craft manufacturers, technology providers and fuel to the right markets with the right cost structure to Airport 3 new DC-3s are added to the
1966 1949

suppliers, both in Singapore and around the world, cover all segments of the market. fleet; introduction of flights to
to help accelerate the development, production and Through cross-selling on Scoot, SIA is able to North Borneo, Sarawak, Mergui
adoption of Sustainable Aviation Fuel (SAF). bring value and greater connectivity for our cus- and Rangoon
DC-3 makes its inaugural
1955

Since June 2021, our customers have had the tomers, particularly to regional destinations in flight to Brunei
option to purchase quality carbon offsets through Southeast Asia where SIA currently does not oper- Malaysian Airways Limited
the Group’s voluntary carbon offset programme via ate. Today, SIA customers may purchase a single- becomes Malaysia-Singapore
dedicated microsites. ticket itinerary that enables passengers to travel Airlines (MSA) in May
from Dhaka on SIA and connect seamlessly to a Annual revenue hits S$100 million for
the first time; sarong kebaya
Will Asia continue to dominate? How stiff Scoot-operated flight from our hub in Singapore – introduced in 1968, and subsequently
1968

will the competition be in years to come? without having to check-in again. adapted by French couturier Pierre 1st to offer free headsets, choice of
The demand for air travel is expected to remain robust Balmain to become the signature meals and free drinks in Economy
1970s

for all route regions, with forward passenger book- Bangladesh also envisions being an aviation outfit for the Singapore Girl Class; 1st transcontinental service
ings closely tracking capacity injection across most hub and plans to enhance the fleet of its from Singapore to London in 1971;
markets. The Group is well positioned in this operat- national flag carrier. There are private airlines MSA separates into Malaysian Airline
ing environment, even as competition is expected to operating international flights. Terminal 3 at System and Singapore Airlines in 1972
On 1 July 1981, operations move
1981-84

from Paya Lebar Airport to

Singapore Changi Airport; SIA 1st
As a foreign carrier, it is encouraging to see the to fly non-stop from London to On 29 October 1986, SIA starts serving
1986-89

passengers from Dhaka; 1st to fly

government setting aside resources to invest in developing Singapore in 1984
non-stop from Singapore to London
Bangladesh into an aviation hub. SIA looks forward and 1st to fly non-stop across the
Pacific between Hong Kong and San
to supporting growth in passenger traffic and cargo In 1991, 1st to introduce Francisco in 1989
shipments through the new Terminal 3.
1991-95

satellite-based inflight telephones; in

1995, 1st to introduce KrisWorld
inflight entertainment and
1998-99

communications system across all 3 Introduces International Culinary

intensify as more capacity is injected into internation- Hazrat Shahjalal International Airport had a classes Panel in 1998; in 1999, 1st to bring
al routes. The Group will monitor these trends closely, soft opening this month. What are your views theatre-style ‘surround sound’ in all 3
and adjust its capacity and network accordingly. on Bangladesh’s aviation industry’s future? classes with Dolby Technologies;
As a foreign carrier, it is encouraging to see the gov- KrisFlyer is also launched in 1999
What are the major challenges for airlines ernment setting aside resources to invest in devel- KrisWorld becomes 1st to provide
audio and video-on-demand to all
2001

and how those could be faced? oping Bangladesh into an aviation hub. SIA looks
One of the major challenges facing airlines operating forward to supporting growth in passenger traffic passengers in all classes, starting
October 1st to operate the world’s longest
in Bangladesh currently is the economic situation in and cargo shipments through the new Terminal 3
2004

the country – particularly inflationary pressures and at Hazrat Shahjalal International Airport when it non-stop commercial flight between
foreign currency liquidity for repatriation of funds. opens fully in 2024. Singapore and Los Angeles in February,
In October, SIA launches a and then surpasses the record in June
The present currency repatriation difficulties are We also welcome plans by the government to with non-stop service to Newark
comprehensive suite of
impacting foreign airlines’ timely access to their introduce a second ground handler at Dhaka air- new-generation cabin products
collection proceeds to meet payment obligations port. Such competition is beneficial not just for
2006

comprising the world’s widest

and increasing exposure to adverse foreign ex- airlines but also for the customers we serve as it First and Business Class full-flat
change movements. brings about innovation and improvement in ser- seats, a new Economy Class seat, On 15 October, Singapore Airlines
Both domestic and international airline services vice standards. and the next generation of takes delivery of the world’s first
2007

are important contributors to economic growth and KrisWorld A380 at the Airbus Headquarters in
social development in Bangladesh. According to The air transport sector contributed hugely to Toulouse; 1st to fly A380
IATA, the air transport industry supported 125,000 the island nation’s economy over the decades. Superjumbo; 1st to fly the A380 from
Singapore to Sydney on 25 October
According to Oxford Economics, air transport
2018

jobs and $728 million in annual GDP in pre-Covid-19 1st to fly Boeing 787-10 Dreamliner
Bangladesh. Internationally, air transport is an im- created 375,000 jobs, and contributed $36
portant enabler in achieving economic growth and billion in gross value addition and 11.8% to
development by providing vital connectivity and GDP in Singapore. Given SIA’s long presence
integration with the global economy. in Bangladesh, what prospects do you see
We seek the government’s support to consider in Bangladesh’s air transport? What policy FLEET FACT SHEET
the importance of aviation to the country’s econ- and infrastructural support is needed for the
omy and to provide a higher allocation of foreign air transport sector here to grow further and Avg. age of
Aircraft Numbers passenger fleet
exchange for the airlines through our respective contribute more to the Bangladeshi economy?
authorised dealer banks. Bangladesh has made remarkable progress in eco- Airbus A350-900 63 6 YEARS 4 MONTHS
nomic and social development over the past two dec-
Singapore Airlines has reported a robust ades. Despite the current economic challenges, we Airbus A380-800 12
quarterly net profit boosted by passenger see this market continuing to grow over the medium
58 PASSENGER AIRCRAFT
on firm order
demand. It has a strategic fleet and route term. SIA remains committed to supporting Bangla- Boeing 737 23
expansion plan, merger and regional desh’s growth and serving this market to connect its
cooperation in aviation. Does Bangladesh people to Singapore as well as to the rest of the world. Boeing 777-300ER 23 74
have a place in SIA’s future journey? We believe that continued investment in airport in- destinations
SIA has been serving Bangladesh for 37 years since frastructure and technology as well as training are Boeing 787-10 Dreamliner 19
October 1986 and SIA remains committed to sup-
porting the growth of this market over the long
vital to the growth of Bangladesh’s air transport in-
dustry. It is also important that the government con- Total 140 32
countries
term. We review our network regularly to match tinues to encourage competition in the sector which
capacity with demand. will benefit the customers whom we serve.
 18 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023

JAHIR RAYHAN Could you please elaborate on your lighting the country’s tourist attractions, making it easier
current significant service offerings?

S
for both domestic and international tourists to access in-
hareTrip, the leading online travel aggregator in the We offer a comprehensive range of services through our formation about these destinations.
country, has made remarkable strides since its launch travel app and website. This includes domestic and in- We provide a one-stop solution where tourists can
in 2019. In just four years, it has grown to become the ternational flight bookings, hotel reservations, holiday find all the relevant information with a simple click, in-
largest platform in the nation, with the company’s app al- packages, visa processing, medical tourism arrange- cluding details on where to stay at the travel destination
ready having been downloaded over 670,000 times. ments, and travel insurance, including baggage insur- and how to get there. Our platform offers information on
Sadia Haque, the co-founder and CEO of ShareTrip, sat ance. An example of our customer-centric approach is 1,100 hotels, motels, and resorts across the country.
down with The Business Standard at her office in Bashun- that during the pandemic, we facilitated Covid-19 testing Previously, if someone wanted to book accommoda-
dhara to discuss the journey of the company, its growth, by providing information on where to get tested and pro- tion in places like Cox’s Bazar, Rangpur, or Dhaka, they
and future plans. Sadia emphasised ShareTrip’s role as a viding the option to book tests, and then we partnered had to make multiple calls. Now, on our website or app,
comprehensive travel solution provider, earning the trust with the relevant institutions to streamline the process, they can access all the necessary information, compare
of its customers. ensuring a hassle-free experience for our users. costs, and make bookings that align with their budget.
She also highlighted their current focus on showcasing What sets us apart is that we are more than just a ShareTrip’s app and website make it easy for users to
the captivating attractions of Bangladesh through their typical online ticket booking platform. We aim to be a locate the hotels they require and facilitate secure pay-
app and website, with the aim of encouraging more for- one-stop solution for all travel needs. Whether it’s visas, ments via our all-in-one multi-channel payment gateway.
eign tourists to explore the country. tickets, or holiday planning, ShareTrip offers a platform However, it is important to note that attracting foreign
that caters to a wide range of travel services, covering all tourists isn’t a task that we can accomplish in isolation.
ShareTrip has made significant strides categories of travel requirements. Various challenges, including infrastructure, hospital-
in a short time. Can you share how the ity, and security, need to be addressed.
idea for ShareTrip came about and the What are your future plans for ShareTrip? We can take cues from countries like Malaysia, Mal-
early stages of its development? Our vision for the future involves long-term strategies dives, and Sri Lanka, which have made significant im-
The idea for ShareTrip emerged from our passion for in travel and aviation. With the inauguration of the air- provements in their tourism sectors. We must work

ShareTrips’
travel. My husband and I used to travel extensively, port’s third terminal, we’ve seen a steady rise in new collectively, starting at the policy level. Collaboration
and as a result, friends and family often turned to us for airlines. Our focus is now shifting towards promoting among regulatory bodies, the Civil Aviation Authority,
travel-related advice, such as visa information and fi- inbound tourism. While a huge number of Bangladeshis and the Ministry of Tourism is essential.

focus is on
nancial transactions. Recognising the need for a reliable are travelling abroad there remains an untapped poten-
platform, we decided to create one. Back in 2014-2015, we tial right here in Bangladesh. What’s the process for ticket cancellations
started with an offline agency from our home, investing To strengthen inbound tourism, we are actively high- and refunds at ShareTrip?

attracting
our personal savings of Tk10-15 lakh. Over the last four years, we have implemented numer-
Initially, we operated under the name ‘Travel Booking ous updates to enhance our services. One significant
Bangladesh.’ Given our limited resources, we focused on improvement is the automation of refunds. We made

foreign travellers
providing quality services. Building a full-scale website the entire process easy, starting from issuing tickets, re-
was beyond our means at the time, so we began developing scheduling, to hotel bookings. This automation ensures
websites alongside our offline agency operations. that requesting and processing refunds have become

to Bangladesh
As the response was positive, we gradually expanded. much more convenient and efficient for our users.
We eventually secured the support of a foreign investor in
2018, which allowed us to transition from offline to online What challenges are you currently facing?
operations. Then we launched the ShareTrip app and web-
site in July 2019.
It is important to note that Our main challenge is getting small entrepreneurs in
the travel and tourism sector to embrace technology and
Travel aggregator ShareTrips’ attracting foreign tourists isn’t utilise our platform effectively. We are actively training
The company has shown impressive growth since them, and about 50% of tourism businesses can now
growth has tripled in the its inception. Can you provide insights into its a task that we can accomplish manage their own information on our platform. We are
last two years. What began expansion and the current size of your team? in isolation. Various challenges, working to support those not yet online.
Absolutely. We have come a long way from our humble In the broader context, the growth of the travel and
in a one-room office now beginnings. We started with a small team of three to four including infrastructure, aviation sector requires collaboration across government
members and have now grown to over 250 professionals. hospitality, and security, departments and sectors. Digital education and ecosys-
operates from a 12,000 square- Our organisational structure includes separate depart- tem digitisation are essential. Addressing financial trans-
ments for various aspects of our services, such as direct need to be addressed. We action limits, such as the $300 cap on online purchases,
foot office space with 250 customers, businesses, corporates, finance, account- is also important, especially for travellers. We’re explor-
ing, HR, administration, marketing, customer service,
can take cues from countries ing potential solutions with Bangladesh Bank.
professionals. In a recent and technology. These teams work both independently like Malaysia, Maldives, and
interview with The Business and collaboratively to ensure the seamless operation of
Sri Lanka, which have made
Where do you see ShareTrip
ShareTrip. in the next five years?
Standard, Sadia Haque, We are grateful for the positive reception we have re- significant improvements in In the next five years, we aim to be a competitor on the
ceived in the market from the beginning. Currently, we global stage and we want to strengthen our presence
the co-founder and CEO of have three offices located in Bashundhara and Banani in their tourism sectors. We must in the Bangladeshi market. While currently, ShareTrip
Dhaka, and in Chattogram, covering 12,000 square feet is often associated solely with travel, our vision is for
ShareTrip, discusses the of office space. We are actively expanding our infrastruc-
work collectively, starting at the people to recognise that we offer more than just travel
journey of the company, its ture and plan to add an additional 20,000 square feet policy level. services. We are actively enhancing our website with en-
of office space in the coming months. Additionally, we gaging features, such as travel-related quizzes, to foster
growth, and future plans have representatives positioned in various parts of the a deeper connection with our users beyond their travel
country to better serve our customers. experiences.

Sharing the love

of travelling
NASIF TANJIM four members and have now grown to over
250 professionals. They are still expanding:
A couple’s love for travelling last year ShareTrip secured an investment
of Tk5 crore from the government’s flagship
and the dream of making venture capital firm Startup Bangladesh.
Currently, they have three offices located
it easy for everyone gave in Bashundhara and Banani in Dhaka, and
in Chattogram, totalling 12,000 square feet of
birth to the country’s first office space. By the end of the year, they plan
and leading online travel to move into an even bigger office space,
which will increase their total office space to
aggregator, allowing 20,000 square feet.
ShareTrip is currently the country’s lead-
Bangladeshis to plan the ing online travel aggregator, holding around
50% of the market share. They offer a compre-
perfect holiday from the hensive range of services through their Travel
comfort of their homes app and website. This includes domestic and
international flight bookings, hotel reserva-

N
tions, holiday packages, visa processing,
oted author and journalist Malcolm medical tourism arrangements, and travel in-
Gladwell introduced the concept of Ma- surance, including baggage insurance.
vens in his book “The Tipping Point,” ShareTrip prides themselves on being a
as one of the three types of people who play very customer-centric company.
a critical role in the spread of ideas or trends. “During the pandemic, we facilitated
Mavens are individuals who have a deep Covid-19 testing by providing information on
knowledge of a particular subject or area and where to get tested, and then we partnered
are passionate about sharing that knowledge with the relevant institutions to streamline
with others. They are seen as information ex- the process, ensuring a hassle-free experi-
perts amongst their peers. ence for our users,” Sadia elaborated.
And that is exactly what husband-wife During the pandemic, they also tweaked
duo Kashef and Sadia Haque were to their their business model from a B2C-only one
friends and family when it came to travelling and added a B2B platform as well. “Even
insights. Being avid travellers, they were well though regular travel was off during Cov-
versed in everything from visa applications id-19, there were students and migrant work-
to getting the best deals for hotels. So, their ers who needed to travel.
friends and family regularly reached out to “However, these travellers were depend-
them for travel tips. ent on offline agents who were closed at that
That is where the idea of helping others time. So we made a B2B website for these
with their travelling needs came from. They de- agents and shared all our inventory with them
cided they would become the trusted, one-stop through that platform,” said Sadia. Now, they
travel aggregator everyone was feeling the have more than 6,000 offline agents.
need for. So, in 2014, they took a leap of faith; The biggest challenge they are facing is get-
they quit their corporate jobs and started an ting small entrepreneurs in the travel and tour-
offline travel agency using their savings. Since ism sector to embrace technology and make
they had limited resources although they had the best use of their platform. “We’re actively
big visions, they started offline, but kept devel- training them, and about 50% of tourism busi-
oping the website in the background. nesses we work with can now manage their
In 2017, when they sat down with their own information on our platform. We’re work-
first foreign investor they realised there was a ing to support those not yet online,” said Sadia.
significant gap between how they were oper- “While currently, ShareTrip is often as-
ating and their vision for the company. sociated solely with travel, our vision is for
“When we received the funding in 2018, people to recognise that we offer more than
we revamped the entire company. After we just travel services. We are actively enhanc-
received that funding we closed down our ing our website with engaging features, such
offline operation and rebranded from ‘Travel as travel-related quizzes, to foster a deeper
Booking Bangladesh’ to ‘ShareTrip’ along connection with our users beyond their travel
with a full stack website,” said Sadia Haque experiences,” explained Sadia.
Co-founder and CEO of ShareTrip sitting at In the next five years ShareTrip dreams of
their Basundhara office. becoming a global player as well as further
They started with a small team of three to strengthening its grip on the market.
THE BUSINESS STANDARD WEDNESDAY 25.10.2023
19
20 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023
SKY HIGH IMPAC
HOW AVIATION IS GROWING
IN BANGLADESH 4 TOTAL LOCAL
AIRLINES

INTERNATIONAL 784,832

AVERAGE FLIGHTS
PER MONTH
486,345
652,351
3 PRIVATE
AIRLINES

AVERAGE PASSENGERS 300,153

PER MONTH

3,759

3,465
194,195
2,220

1,786

3
1,098 OPERATING FLIGHTS IN
INTERNATIONAL ROUTES

AIRLINES
2019 2020 2021 2022 2023 (Upto 18 Oct)

DOMESTIC 193,705 194,255

170,542
AVERAGE FLIGHTS
PER MONTH
116,413
AVERAGE PASSENGERS
4,498

PER MONTH
4,228
3,417
2,224

FLIGHT MARKET
IN BANGLADESH
Market revenue is Revenue is expected to
2020 2021 2022 2023 (Upto 18 Oct) projected to reach show an annual growth
rate (CAGR 2023-2027) of
Source: Hazrat Shahjalal International Airport (HSIA)
$1.36BN 6.35%, resulting in a
in 2023 projected market volume
of $1.74bn by 2027

Number of users is

ANNUAL PASSENGER FLOWS expected to amount User penetration is

projected to be
to 15.50M users 7.8% in 2023 and
by 2027
Source: Statista Market Insights
8.6% by 2027

BY REGION (ORIGIN-DESTINATION, ‘000S) The average

78% of total
revenue per user
revenue will be
(ARPU) is expected
generated through
to amount to
online sales by 2027
$100.70
357 In global comparison, most revenue will be
generated in the US ($130.90bn in 2023)

CARGO
169 2,082
Asia-Pacific
is the largest
market for passenger
4,215 FLIGHT STATE
flows to Bangladesh,
followed by the Middle
45 FIGURES IN LAKH TONNES
EXPORT IMPORT TOTAL WEIGHT
East and Europe.
CARGO CARGO IN CARGO FLIGHT
4.2 million passengers
arrived in Bangladesh from Source: 2.61
IATA (2019)
Asia-Pacific (61.3%); 2.1
million passengers arrived 2.21 0.67 2.13
from the Middle East
(30.3%); and 357,000 3 0.40 1.76
passengers arrived from 0.88
Europe (5.2%) 0.29
International Airport (HSIA)

1.14
Source: Hazrat Shahjalal
1.94

1.73

0.44
0.09%
1.34

1.48

0.08% 0.08% 0.08%

0.70

AIR TRANSPORT 0.08%

0.07%

CONTRIBUTION TO 0.06% 0.06% 2019 2020 2021 2022 2023

(Upto 23 Sep)

BANGLADESH’S 2,953 7,098 6,503 4,144 3,339

2,606

GDP TOTAL FLIGHT (EXPORT+IMPORT)

2,422
2,279
2,304
2,250
2,095
1,899
1,667

Amount (in crore taka)

As share of GDP

*Provisional,
Source: Bangladesh Bureau of Statistics FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23*
CT ON ECONOMY 21
LOCAL AIRLINES

33 AIRPORTS
OPERATING FLIGHTS IN
INTERNATIONAL
ROUTES 28
IN BANGLADESH
FOREIGN AIRLINES
OPERATING
TO AND FROM
BANGLADESH

INTERNATIONAL AIRPORTS

THAKURGAON OPERATIONAL SERVICE NOT

AVAILABLE
NEEDS PRIOR
SAIDPUR APPROVAL FOR UNDER
AIR OPERATION CONSTRUCTION

BOGURA OSMANI, SYLHET

SHAH MAKHDUM, SHAMSHERNAGAR

RAJSHAHI
HSIA, DHAKA
ISHWARDI
TEJGAON, DHAKA

51
CUMILLA
NUMBER OF
AIRCRAFTS IN
LOCAL AIRLINES JASHORE
BARISHAL

21AIRCRAFTS in Biman’s fleet

including 6 brand-new Boeing 787
BAGERHAT
SHAH AMANAT
CHATTOGRAM
Dreamliners and 3 Dash 8-400s

COX'S BAZAR
Novoair has

The
7 AIRCRAFTS
of ATR 72-500

US-Bangla fleet
has a total of
aircraft including 8
20 FORECAST
SCENARIOS FOR
Boeing 737-800, 9 ATR
72-600. 3 AIRCRAFTS
Air Astra has
PASSENGER TRAFFIC,
JOBS AND GDP FOOTPRINT PASSENGERS GDP JOBS
Air 2018 7.2m $0.8 bn 128,931
transport
to grow by Current Trends 19.3m $2.1 bn 139,945
FINANCIALS OF BANGLADESH’S
2038

168% Upside 30m $3.2 bn 222,340

by 2038 Downside 15.6m $1.7 bn 111,743
AIRPORTS IN FY22
FIGURES IN CRORE TAKA
1,596.8

INTERNATIONAL THE IMPORTANCE OF

AIR TRANSPORT
AIRPORT
Income Expenditure
403.1

TO BANGLADESH
123.7

57.6
48.7
53.2

Hazrat Shahjalal Shah Amanat Osmani

TOURISM
Civil Aviation Authority

International International International

Airport Airport Airport 129,000
of Bangladesh

1,193.7 70.6 9.0 JOBS DIRECT SUPPLY

CHAIN
EMPLOYEE
SPENDING
Source:

SUPPORTED BY THE
PROFIT AIR TRANSPORT
SECTOR
33.49

DOMESTIC
AIRPORT $769
16.31

Income Expenditure
MILLION
GROSS VALUE ADDED
10.25

10.07

CONTRIBUTION
9.54

16.12

TO GDP
5.82

6.3

17,000 30,000 17,000 65,000

2.67
1.94

JOBS JOBS JOBS JOBS

0.3% GDP
SUPPORTED BY
AIRTRANSPORT and
Cox's Bazar Shah Makhdum Saidpur Barishal Jashore FOREIGN TOURISTS
Airport Airport Airport Airport Airport ARRIVING BY AIR

-24.0 -8.3 -10.3 -7.4 -10.0

LOSS $246 $128 $75 $320
Source:
Oxford Economics MILLION GROSS VALUE ADDED
 22 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023

By 2024, Cathay Pacific

horses, our experts ensure that all our
cargo arrives ready to make a differ-

PACIFIC AT A G ence to the world.

expects to scale up
Our extensive cargo handling

HAY LA expertise enables a range of special-

ised solutions to handle shipments
requiring special care as we work to

CAT

NC
to pre-pandemic
accommodate customers’ growing
demands.

E
Our quality, expertise and innova-
tion are the key differentiator from

flight capacity from

other airlines. With our tailored cargo
services, customers can expect noth-
ing less than efficiency, know-how,
and reliability for every shipment.

Bangladesh
Cathay Cargo endeavours to pro-
vide more efficient and reliable air
cargo services, professional and in-
sightful team, innovative air cargo
solutions, our value-adding service
and online platform.
Here in Cathay Cargo, we believe
In an interview with The Business Creation of Cathay
“We know how”.
Being a globally acclaimed export
Pacific in Hong
Standard, Ahmed Reza, country

1946
zone and a major contributor to RMG
Kong after first
exports, Bangladesh has a strong po-
manager of Cathay Pacific for freight service from 1st international

1960
tential with regards to air cargo. Over
Australia to China airline to fly to time, we have seen an increased de-
Bangladesh and Bhutan, discusses Osaka pendency on air shipment.
how the carrier’s business is 1st to fly non-stop
Given the challenges due to the
global economic crisis, we did wit-

1982
recovering after the pandemic, its from Hong Kong to
Vancouver, setting
1st to fly non-stop from
Hong Kong to London;
ness a brief slowdown, but it has not
been a deterrent to the increasing de-
plans to increase the number of

1983
world record 1st Asian airline to mand for air cargo from Bangladesh.
offer business and Air transport connects Bangladesh
flights between Dhaka and Hong economy services on to cities around the world, especially
1st to offer a live every flight
Kong, and the potential it sees in for the growing demand of ready-

1991
radio service on made garments to Europe and the US.
the country’s aviation industry flights
1st non-stop flight
Apart from that, in recent years,
we have observed product diversifi-

1998
from Hong Kong to cation — which is very important to
New York, Polar One, overcome the sole dependency on
celebrates the world’s readymade garment products only.
TBS REPORT airlines Cathay Pacific and HK Ex- flight capacity from Bangladesh. 1st to launch an longest flight It is very promising to witness

C 2001
press, we are now close to 60% of pre- Our increased passenger flight online check-in increased demand for other export
athay Pacific Airways Limited, pandemic passenger flight capacity capacity will provide our customers service products like fresh fruits, vegeta-
1st non-stop flight

2018
more widely known as Cathay levels. We are also on track to achieve with increased flexibility and flight bles, crabs, eels, pharma, finished
from Hong Kong to
Pacific, is the flag carrier of our target of 70% covering more than options, along with convenience leather and leather products, mobile
Ireland
Hong Kong, with its head office and 80 destinations by the end of this when travelling with Cathay Pacific. phones, lenses, LED lamps, etc.
main hub located in Hong Kong. year, and 100% by the end of 2024. Notably, passenger traffic from Many Japanese, Korean, and Chi-
As at 30 June 2023, Cathay Pacific
together with its subsidiaries, HK
Regarding cargo, we expect to
return to about 85% of pre-pandem-
Bangladesh has been steadily in-
creasing, particularly to our top FLEET FACT SHEET
nese companies are either shifting their
production plant or building new ex-
Express and Air Hong Kong, had 225 ic cargo flight capacity by the end destinations and we continue to be a port manufacturing facilities here and
aircraft, of which 25 were parked out- of 2023. preferred choice given our premium AIRCRAFT NUMBER 74 destinations worldwide the numbers are growing gradually.
side of Hong Kong. Their passenger We have played our part by main- product and service. All of these are clear indications
and cargo airlines offered scheduled taining hub connectivity even dur- Moreover, the third terminal of the A320-200 4 of growing demand and potential of
Group serves additional
services to 74 destinations world- ing the most difficult times, ensuring Hazrat Shahjalal International Airport 160 destinations through cargo business from Bangladesh in
wide, including 17 destinations in the the important flow of people and will add considerable value to the
A321-200 2 coming days.
codeshare agreements
Chinese Mainland. Furthermore, the cargo continued. We are very proud aviation landscape in Bangladesh. A321-200neo 12 Moreover, the new facility in the
Group serves an additional 160 des- to have contributed to Hong Kong This modern terminal, equipped with upcoming third terminal will surely
tinations through codeshare agree- International Airport once again be- world-class facilities, will elevate the A330-300 43 Shares of Cathay Pacific listed play a very vital role in the air cargo
ments. ing named the world’s busiest cargo level of service we provide to Cathay on Hong Kong Stock Exchange growth from Bangladesh as this will
In an interview with The Business airport in 2022. Pacific customers, ensuring a seam- A350-900 28 enable us with more capacity.
Standard, Ahmed Reza, country Furthermore, the Three-Runway less and exceptional travel experience.
Low-cost carrier HK Express Cathay Pacific has recently
manager of Cathay Pacific for Bang- System at Hong Kong International We look forward to further A350-1000 18
ladesh and Bhutan, discusses how Airport will be fully operational by strengthening our presence in Bang- is a wholly owned subsidiary chosen to purchase 32 Airbus
the carrier’s business is recovering late 2024. This will usher in a new era ladesh and are committed to offering 747-400ERF 6 of Cathay Pacific and has A321-200neo aircrafts to expand
after the pandemic, its plans to in- of exciting opportunities. the highest standard of service to our 27 aircraft the fleet capacity of the budget-
crease the number of flights between valued customers. 747-8F 14 friendly airline Hong Kong
Dhaka and Hong Kong, and the po- How does Cathay Pacific look Express all-cargo carrier Express. Do you have any plan to
tential it sees in the country’s avia- at Bangladesh’s market? Is Cathay Pacific handles a lot 777-300 17 introduce the Hong Kong Express
Air Hong Kong is a wholly
tion industry. there a plan to expand Cathay of cargo from Bangladesh. owned subsidiary of Cathay here too as other airlines have
Pacific’s weekly direct flights What advantage does Cathay 777-300ER 39 been focusing on budget flights?
Pacific operating 15 aircraft
How is Cathay Pacific doing between Dhaka and Hong Pacific offer to the business Total 183 Our dual-brand strategy, compris-
globally? Following the Kong? Do you plan to add new community regarding cargo ing Cathay Pacific as a premium
pandemic-led depression in the destinations from Dhaka? handling, over other airlines? full-service airline and HK Express
aviation market, how did Cathay We currently operate three passenger What is the future of the air as a wholly owned low-cost carrier,
Pacific turn around its business? flights and starting 4 November 2023, cargo business for Bangladesh? bound airfreight in February 2023. mark and measure performance. enables us to cater to the needs of all
We are representing Hong Kong as its we will operate four flights per week Cathay Cargo’s ambition is to be We continue to invest in building Furthermore, Cathay Cargo was customers.
home carrier; Hong Kong is our home between Dhaka and Hong Kong. the most customer-centric air cargo air-cargo expertise to deliver what named Cargo Airline of the Year 2023 We have announced our intention
and has been for more than 77 years. While Hong Kong is our home, we brand in the world. customers want and to set it and the by Air Transport World, and Sustain- to purchase up to 32 Airbus A321neo
Our role as the city’s home carrier continue to progressively increase We are committed to upholding Hong Kong international aviation able Cargo Airline of the Year - Asia by and A320neo aircrafts.
is to be an enabler, connecting Hong our passenger flight capacity and add and strengthening Hong Kong as hub apart from competitors. Freightweek. These aircrafts are expected to
Kong, the Greater Bay Area and the more frequencies to popular destina- the world’s busiest air cargo hub. Recent investments include: Ultra Cathay Cargo offers committed be delivered by 2029 and will join
Chinese Mainland with the rest of tions, in particular the Chinese Main- We opened a new 1,250sqm purpose- Track, a next-generation track-and- excellence and provides a complete the fleets of Cathay Pacific and HK
the world. land, US, South Asia and Japan. built Pharma Handling Centre at the trace tool; putting purchase and con- solution to customers for their valued Express, principally serving destina-
We are contributing to the re- Cathay Cargo Terminal. firmation into customers’ hands with shipment. tions in the Chinese Mainland and
building of connectivity at the Hong What are the potential areas of We also became the first carrier Click & Ship; revamping the range We have comprehensive solutions elsewhere in Asia.
Kong international aviation hub by growth in Bangladesh’s aviation (Cathay Cargo) and first cargo ter- of specialist handling solutions; for both general and special cargo. Adding state-of-the-art, fuel-effi-
rebuilding our capacity as quickly market for Cathay Pacific? minal operator (Cathay Cargo Termi- infrastructural upgrades including At Cathay Cargo, we believe every cient aircraft enables us to continue
as is feasible with more flights and We resumed our operations in 2022, nal) to have cargo shipments accept- the Pharma Handling Centre at the shipment matters. From handling growing our network and connecting
more destinations for our customers. and by the beginning of 2024, we ex- ed in Dongguan Logistics Park and Cathay Cargo Terminal; digitalising temperature-sensitive vaccines and our customers with more flights and
As a group, comprising passenger pect to scale back to our pre-Covid-19 transported to HKIA by ship for out- processes and using data to bench- fresh produce to caring for champion destinations.

How air transport helps Bangladesh’s economy fly

CONTINUED FROM PAGE 15 to be strategic planning, massive investment and of Bangladesh resides abroad, while 250,000 foreign- ous airport development projects, worth around
involved to provide international air services for pas- policy support for the country to be an aviation hub ers stay in the country. Tk32,605 crore, including the third terminal at Hazrat
sengers, cargo and mail. It is generally executed be- and utilise its potential emanating from its geograph- These segments can be great sources of air pas- Shahjalal International Airport.
tween two countries, though it can be a multi-party ic location. sengers. “Currently, we handle 8 million passengers
agreement too. They also stressed the need for reopening the six a year. If we can grab the aforementioned diaspora, What do local airlines say?
Such agreements allow more flights to and from closed domestic airports that are not in commercial we can increase the passenger number to 20 mil- When asked about the potential impact of the third
a country and help boost the economy through dif- operation due to insufficient infrastructure for take- lion,” claimed the CAAB chairman. terminal in establishing Bangladesh as an air hub,
ferent aeronautical and non-aeronautical revenue off and landing of aeroplanes. “If Singapore and Dubai, countries with very Squadron Leader Lutfor Rahman, CEO of US-Bangla
for the Civil Aviation Authority, taxes for the govern- These airfields – located in Ishwardi, Shamsher- small populations, can become the aviation hub of Airlines, commented, “if we look at the Middle East,
ment, job opportunities and promotion of trade. nagar, Thakurgaon, Bogura, Lalmonirhat and Cumil- the world in five decades, why can’t Bangladesh be- it used to serve as a bridge connecting the East and
This kind of exposure of a country to the greater la – were constructed in the British era and saw com- come a regional hub with a population of 170 million West. However, the dynamics have changed, and the
aviation industry ultimately promotes the growth of mercial operations during the Pakistan period. and an advantageous geographical position in East, distance between regions has expanded. Now, we
countries’ airlines. For example, a small country like “You are probably aware that Switzerland is often Southeast Asia and South Asia?” are looking at a global hub; the concept of a regional
Sri Lanka has ASA with 87 countries. It has an open regarded as a central hub in Europe. In a similar vein, An airline hub or hub airport is a name given to hub has evolved.”
sky agreement with 14 countries, including Singa- Bangladesh possesses the potential to serve as a stra- the airport that airlines use outside their headquar- He added, “if we can have favourable tax policies,
pore, Malaysia and Thailand. tegic hub. With its advantageous geographical loca- ters. The hub is also used as a term that expresses the get efficient customs services, and be offered bonded
M Kamrul Islam, executive director of Hazrat tion, this country can act as a pivotal transit point connectivity of an airport to other airports. And the warehouse provisions for airlines, we will be poised
Shahjalal International Airport, said, “at present, for global destinations,” shared Air-Vice Marshal M more space an airport provides access to, the higher for significant growth. This will enable us to invest in
HSIA has the capacity to serve 8 million passengers Mafidur Rahman, the Chairman of the Civil Aviation the flight frequency is and the greater the hub. superior equipment and enhance the quality of our
annually, whereas the expected annual passenger Authority of Bangladesh (CAAB). “Hub simply means more air connectivity. And if services. Under these conditions, Bangladesh is on
traffic is projected to rise to 24 million. Cargo han- “This opportunity resonates with the vision of we can ensure that, the movement of domestic and track to become a prominent hub.”
dling capacity is anticipated to grow from an annual Bangabandhu, who dreamt of making Bangladesh a foreign airlines will increase and we will get a lot of Mofizur Rahman, Secretary General of the Avia-
285,000 tonnes to an impressive 820,000 tonnes, prominent hub. Building upon this legacy, our Prime revenue,” Squadron Leader ATM Nazrul Islam, an tion Operators Association of Bangladesh (AOAB)
with an economic growth rate (EIRR) estimated at Minister Sheikh Hasina has diligently taken steps aviation expert, told The Business Standard. and Managing Director of NovoAir, offered a more
15.24%. Thus, the expansion of the existing airport towards realising this vision. Consequently, we are Prime Minister Sheikh Hasina recently stressed cautious perspective, “certainly, Bangladesh holds
is an imperative move to cater to the surging number witnessing the progress of ambitious projects like the the need for preparing a roadmap aimed at making the potential to become a regional hub. However, our
of passengers.” third terminal, which is nearing full-fledged opera- Bangladesh an aviation hub in the region. current status in achieving hub status is not entirely
tion,” he added. At the first-ever Bangladesh Aviation Summit in favourable, as we lack some essential components.”
Turning Bangladesh into an aviation hub As an example, he pointed out all South Asian March this year, she said the government has under- He emphasised, “infrastructure alone is insuffi-
Aviation stakeholders consider the construction of countries can be reached within two hours from taken several measures in the last decade, including cient to transform us into an aviation hub. We need
the much anticipated third terminal at Dhaka airport Bangladesh. Besides, any country in Asia can be a number of projects to upgrade airports, airport se- a skilled workforce, up-to-date aviation-related laws
a major step towards turning Bangladesh into an reached in four hours and all European countries in curity and ground handling, to support the develop- that align with global standards, competitive oil pric-
aviation hub. about eight hours. ment of an aviation hub. es, and various other factors — where we currently
However, airline operators think that there needs Some 13 million of the total 170 million population The country is currently implementing vari- fall short.”
 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023
23

IN-FLIGHT SERVICE
AT AIR ASTRA
THE STANDARD
PAR EXCELLENCE!
W
hen airline passengers think of mindset required to deliver customer-ori-
flight attendants and the service ented service while meeting practices for
they are entrusted with to pro- safety onboard the flights. Psychometric
vide, most people immediately think of tests are undertaken on every candidate be-
how glamorous they look and the courtesy fore they are put through extensive training
with which they serve passengers onboard on relevant subject-matters at the airline’s
– from assisting with stowing the carry-on own training centre with a capacity of 100
baggage to serving the snacks & meals. trainees in five well-equipped classrooms.
While the flight attendants at the country’s While the passengers board the aircraft
youngest private airline have all the glam- for their flights, the airline’s theme-music
our and charm, and are as courteous and composed by national award-winning com-
helpful as they can possibly be at those poser Bappa Mazumder is played to create
chores, they have also undergone rigorous a welcoming ambiance in the cabin. On
training to ensure safety of all passengers board the flights, the airline serves a snack
on every flight, every day. box containing a sandwich or a mini-burger
In recognition of the excellent in-flight along with a bottle of water, while the chil-
service, the recently-organised ShareTrip- dren travelling get busy on the “Fun Book”
Monitor Airline of the Year 2023’ conferred – a mini activity book for the little ones
the Best in-flight Service (Domestic) award given complimentary by the airline.
to Air Astra. For an airline that is only about The uniforms of the flight attendants –
to complete its first year of commercial appreciated very well by the passengers who
flight operations, this is a significant rec- have travelled with the airline since Novem-
ognition testifying the standard of training ber 2022 for its vibrant and smart styling
the airline has given to its flight attendants have been designed by celebrity fashion de-
from before it began flight operations and signer Shahrukh Amin. The airline’s brand
continues as the airline prepares to expand shade of yellow is made to stand out while
to international operations in 2024. complimenting the grey and white for both
The selection and recruitment process male and female flight attendants on duty.
of the airline’s flight attendants adheres The 70-seat configuration of the airline’s
to stringent standards – from ensuring re- French-built ATR 72-600 aircraft is also the
quired academic background and appear- most comfortable among other airlines op-
ance including physical fitness and ideal erating similar turboprop aircraft across the
height-to-weight ratio to having the correct domestic network in Bangladesh.
 24 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023

Biman joins
Tk10,000 crore
revenue club
In an interview with The Business Standard, Shafiul Azim,
the managing director of Biman Bangladesh Airlines, shares
In some instances, flight
insights into the national carrier’s efforts to enhance service
delays are influenced
quality and their approach to meeting the escalating demand by factors beyond our
for air travel and cargo control, such as natural
calamities or issues at the
airports, including weather
conditions. To assess our
JEBUN NESA ALO AND KAMRAN SIDDIQUI our OTP currently stands at 82%. Our fleet consists of modern aircraft evaluation process encompasses both tech-
current performance, you

B
Furthermore, when it comes to interna- such as the Boeing 787 and the triple nical advancements and financial aspects.
iman Bangladesh Airlines has tional flights, there is no room for delays. seven. Besides, we do not compromise In alignment with our fleet plan and can look at our OTP, where
recently achieved a remarkable We face penalties if we fail to adhere to the on safety standards. Additionally, ticket the addition of new destinations, we main-
milestone, generating revenue of allocated ground time. Therefore, punctu- prices are influenced by the dynamics of tain regular discussions with our potential achieving 80% on-time
Tk10,000 crore — a first in its history. This ality is not just crucial for our reputation market demand and supply, as well as partners to determine the most profitable flights is considered a good
significant accomplishment was a result and passenger satisfaction, but also for competition within the industry. There- and beneficial path for the airline and, by
of the post-pandemic resurgence in air our financial performance. Delayed flights fore, our pricing is set automatically extension, for the country. Selecting the standard, and our OTP
travel. result in losses for us, which is why we based on these factors, without external right aircraft is a decision that carries sig-
In a recent interview with The Business take the delay issues very seriously. intervention. nificant weight and consideration.
currently stands at 82%.
Standard, Shafiul Azim, the managing di- However, it is crucial to understand It is worth noting that the phenom- While a final decision will require some
rector of the national carrier, shared in- that aviation is a complex field, with enon of higher ticket prices is not unique time, we have received approval at the
sights into their efforts to enhance service many highly sophisticated machines and to Bangladesh — it’s a global trend. After leadership level for the aircraft we intend
quality and their approach to meeting the variables that can occasionally be beyond the pandemic, there has been a signifi- to acquire. We remain committed to mak-
escalating demand. our control. In such cases, we may need cant increase in people’s mobility, invest- ing a choice that serves the best interests
to seek external assistance. ments, business activities, and overall of the airline and the nation as a whole.
In the past, Biman Bangladesh We are committed to minimising dis- communication. As a result, ticket prices
Airlines had a reputation for ruptions as much as possible. We are have risen. And in some cases, the price How do you see the development of
flight disruptions, particularly actively investing additional resources to has shot up by approximately 44%. Biman Bangladesh in the next five
flight delays. Can you provide reduce delays further. Our goal is to sub- We hope that ticket prices may become years, including plans for business
an update on the current stantially decrease our disruption rate, more tolerable in the future, especially if expansion and network growth?
status of flight delays? and you will find that we are currently the cost of fuel decreases. This would of- We have a clear vision for the future. We
Our previous flight disruption issues experiencing very few major disruptions. fer some relief to travellers and make air have a 2030 plan in hand. This plan en-
were interconnected with several factors. travel more accessible. compasses various aspects, including our
Initially, our fleet size was insufficient to Ticket prices in Bangladesh are fleet, network expansion, and the devel-
meet the demand. However, Prime Min- considerably higher than those There have been discussions opment of our human resources to align
ister Sheikh Hasina has taken proactive in neighbouring countries. about Biman Bangladesh with our growth ambitions.
steps to address this by gradually adding Could you explain the reasons Airlines investing in Airbus In line with this vision, we are actively ex-
more aircraft to our inventory. behind this price difference? or Boeing aircraft, but a final ploring collaborations with partners, such
In some instances, flight delays are The difference in ticket prices is primarily decision hasn’t been made yet. as interline agreements and codesharing
influenced by factors beyond our con- determined by the quality of service of- What can you tell us about the arrangements. These strategic partnerships
trol, such as natural calamities or issues fered. At Biman Bangladesh Airlines, we current status of this deal? serve as essential tools to expand our net-
at the airports, including weather condi- are committed to providing a full-service As a company, we are looking forward to work and, in turn, enhance our profitability
tions. To assess our current performance, experience that sets us apart from budg- the best option. So, we are diligently evalu- and reputation. Our primary objective is to
you can look at our On-time Performance et carriers. Comparing our pricing with ating the offers and options available to broaden our service offerings and further
(OTP), where achieving 80% on-time budget airlines wouldn’t be an apples-to- us. Boeing has presented a proposal to us, establish Biman as a smart airline, in har-
flights is considered a good standard, and apples comparison. which we are carefully considering. This mony with the vision of our Prime Minister.

Bangladesh air cargo industry likely

to double in next 5 years
JASIM UDDIN tures to prevent the growth of harmful
bacteria and maintain freshness.
The growth will depend Acknowledging it, Kabir Ahmed said
hopefully, a cold storage will be added
on government policy in the third terminal of HSIA.
Shams Mahmud, managing director
changes, improved service of Shasha Denims, said the local market
also has the potential to develop an air
quality and reduced cargo market, which would be conveni-
ground handling costs ent and cost-effective.
“It would be from one city to another

B
city without touching Dhaka. Currently,
angladesh’s air cargo industry is every air route is Dhaka-centric,” he
likely to double in the next five added.
years, thanks to the capacity de- Establishing cold storages in Hazrat
velopment of Hazrat Shahjalal Interna- Shahjalal International Airport would
tional Airport (HSIA), according to in- be helpful in improving the air cargo
dustry insiders. business as well as the export of agricul-
They said that it has the potential to tural products.
grow multiple times, which depends on The cost of per kg goods transporta-
policy changes, improved service qual- tion from Dhaka to Europe is about $3
ity and reduced ground handling costs. and from Dhaka to the US is about $3
They mentioned that HSIA charges the during peak time, which is now $2.10
highest for ground handling among re- and $2.90, respectively.
gional airports, which could be a barrier Shams Mahmud said that Bangla-
to this growth. desh has to sign a number of FTAs (Free
HSIA handles up to 900 tonnes of Trade Agreements) to achieve the coun-
cargo in a day. On average, it handles try’s export target of 2041 and when the
400 to 500 tonnes in a day, which is cur- export-import volume will increase and
rently about 200 tonnes, as trade is slow there will be technological upgradation,
at present. air cargo will become cheaper.
Kabir Ahmed, president of the Bang- According to the International Air
ladesh Freight Forwarders Association Transport Association (IATA), air trans-
(BAFFA), said, “If we can change our port in Bangladesh is forecast to grow
policy and improve service quality, the PHOTO: COLLECTED by 168% in the next 20 years under the
cargo industry will be multiple times big- ‘current trends’ scenario. This would
ger by 2041, compared with the current ‘Contribution of Air Transport Industry to reach $97.13 billion by 2026, register- their own cargo despite paying a high result in an additional 12.1 million pas-
status. However, it’s a lean time due to to Bangladesh Economy’ by ICAB (Insti- ing a compound, the publication men- charge,” he said, adding that to improve senger departures by 2038. If met, this
some national and international issues.” tute of Chartered Accountants of Bang- tioned. the service quality of ground handling, increased demand would support ap-
He said that the state air carrier Bi- ladesh), Bangladesh Biman handled Kabir Ahmed said that the ground the authority should sign a joint ven- proximately $2.1 billion of GDP and
man Bangladesh, which is in charge of 14,000 tonnes of export cargo in 2020, handling charge remains a major chal- ture with internationally reputed op- around 140,000 jobs.
ground handling, should work on im- which was only 8.46% of the total ex- lenge for air cargo, which is currently erators. This would be the best option IATA also mentions that Bangla-
proving it. port cargo from Bangladesh. That year, about 18 cents per kg of goods while the to increase Biman’s efficiency in ground desh’s air transport industry has expe-
Kabir added that state-owned carrier Bangladesh’s export cargo volume was regional charge is about 7 cents. handling. rienced remarkable growth in the last
Biman can use about 8-9% of the total 165,474 tonnes. According to business insiders, some Due to the lack of a cold chain in decade. So far, it has created 17,000 di-
cargo transportation volume and it has Globally, the highest growth of the exporters are exporting their goods HSIA, Bangladeshi exporters are also rect jobs worth $246 million.
the opportunity to increase the coun- air transport industry is being enjoyed through Kolkata Airport due to the low facing challenges in exporting perish- This industry supports 129,000 jobs
try’s share as well as introduce some by the Asia-Pacific region. The Asia- service quality. able fresh food products. A cold chain in Bangladesh, notably 30,000 jobs in
private sector operators. Pacific aviation market was valued at “Some international cargo operators is needed to store and transport perish- its supply chain and 65,000 jobs in the
According to a publication titled $50.92 billion in 2020, and it is projected have alleged that they have to handle able products at appropriate tempera- tourism sector.
THE BUSINESS STANDARD WEDNESDAY 25.10.2023
25
 26 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023

Ticket bookings
in Bangladesh
market alone
will hit 1
million per
month

PHOTO: COLLECTED

FOISAL AHMED How do you see the current status of Why are Dash aircraft widely used for
domestic air travel in Bangladesh? domestic flights in Bangladesh?

F
light Expert, a trailblazing Online Travel Agency Domestic air travel has seen a significant surge in de- Most domestic flights in Bangladesh use the Bombar-
(OTA), started operation in Bangladesh in March mand over time, often exceeding the available supply. dier Dash aircraft, which are perfect for short-distance
2017. As the very first fully operational OTA in Bangladesh Biman is performing admirably, and journeys. They can fly for up to two hours continu-
the country, their mission has always been crystal there’s room for even more efficiency. With a strategic ously at full capacity, and they are preferred for their
clear: to become the leading OTA in Bangladesh, approach, the government can fully harness the po- cost-efficiency. Dash aircraft consume less fuel and
providing exceptional online ticketing services, hotel tential of this valuable asset. have lower maintenance costs compared to other op-
bookings, and visa processing. Local private airlines like US-Bangla, NovoAir, and tions, enabling airlines to offer lower ticket prices.
In this interview, Flight Expert’s In an exclusive interview with The Business Stand- Air Astra have played key roles in the domestic flight Some airlines tried using Boeing 737 for domestic
CEO Salman Bin Rashid Shah ard, Salman Bin Rashid Shah Sayeem, the founder
and CEO of Flight Expert, delves into the state of the
market.
Among them, US-Bangla has been particularly
flights, but it led to significantly higher ticket prices
and losses for airline companies.
Sayeem sheds light on the evolving air travel industry in Bangladesh, offering insights dominant in the domestic market, and they’re also
into the impact of the new third terminal and much seeing an uptick in international flight demand.
landscape of Bangladesh’s aviation more. However, these local airlines could offer more com- How does the aviation sector contribute
petitive pricing and better service if they received air- to the nation’s economy?
industry, its promising future, and How will the third terminal shape craft tax rebates from the government. The aviation sector plays a crucial role in boosting the
Bangladesh’s aviation sector? While we have aeronautical engineers in Bangla- economy. It supports export-oriented businesses by
how Flight Expert is simplifying the The third terminal will be a game-changer for Bangla- desh who can service aircraft, the issue arises when facilitating order placement, lobbying, and building
way people book their travel desh’s aviation sector. It has the potential to turn the we need aircraft parts because they have to be im- relationships with buyers and suppliers.
country into an aviation hub. We expect many inter- ported and come with high taxes. Reducing taxes on Air transport availability also helps reduce unem-
nationally renowned airlines to set up their operations aircraft parts would save costs for airlines and create ployment and poverty in the country. Expatriates can
here, which will be a significant boost to the sector. more opportunities for local aeronautical engineers. secure jobs abroad more easily, directly benefiting the
Currently, 12 international airlines have applied economy through air transportation.
to operate in Bangladesh, and we anticipate more to Can you explain the factors driving the growth
follow once the third terminal is fully operational. To of commercial airlines in the country? Tell us about Flight Expert’s
ensure smooth airport operations, it is crucial for the The rise of commercial airlines in Bangladesh can ticket-purchasing system.
authorities to consider building a second runway. be attributed to remittance income and government Purchasing tickets from Flight Expert is hassle-free.
With the aviation market bouncing back after the support. Approximately 60% of flights are taken by You can buy tickets through our online platform,
pandemic, we have seen the monthly passenger count migrant workers, and affordable travel options have and we were pioneers in bringing this service to
double from 300,000 to around 600,000. With the encouraged more people to explore tourism abroad. Bangladesh.
third terminal, we project that ticket bookings in the Additionally, the growth of e-commerce and online It is convenient because you can purchase tickets
Bangladesh market alone will hit at least 1 million per transactions from abroad has further fueled the ex- from the comfort of your home, and your tickets will
month, giving a substantial boost to the economy. pansion of commercial airlines. be delivered to you via email and mobile SMS.

Gulf Air’s partnership with Biman

will enhance travel connectivity
Gulf Air has a rich history, being the Bangladesh and the Arabian Gulf region by of- agents to understand the needs of its customers
first commercial airline established in fering more flight options and seamless con- and provide tailored services accordingly.
the Middle East. How has the airline nections.
managed to maintain its legacy while Gulf Air is always exploring opportunities for It’s interesting to note the plans for the
also staying ahead in terms of service collaborations and expansions with other air- increase in the frequency of flights to
levels and meeting the demands of lines in the region to enhance its route network Dhaka. Could you elaborate on Gulf
the modern aviation industry? and offer more travel options to its customers. Air’s vision for its future expansion
Gulf Air has managed to maintain its legacy by in Bangladesh, particularly with the
continuously improving its services and adapt- How does Gulf Air plan to expand its market upcoming Third Terminal at HSIA?
ing to the changing demands of the aviation in- presence in Bangladesh, and what role do Gulf Air’s vision for future expansion in Bangla-
dustry. The airline has invested in modernising the agents play in achieving this goal? desh includes increasing its flight frequency and
its fleet, enhancing its in-flight entertainment Gulf Air is currently enjoying a 6% market share expanding its route network to include more des-
and dining options, and improving its customer in Bangladesh. Gulf Air plans to expand its mar- tinations. The upcoming Third Terminal at HSIA
service. ket presence in Bangladesh by increasing its will provide more opportunities for Gulf Air to
Gulf Air has also expanded its route network expand its services and offer more travel options
to include more destinations and has formed to its customers.
strategic partnerships with other airlines to offer
more travel options to its customers. The airline Could you provide an overview of
has also focused on improving its operational the key challenges Gulf Air has faced
efficiency and has implemented measures to re- in operating in Bangladesh and how
duce its environmental impact. the airline has effectively managed
Gulf Air is currently to overcome these challenges to
In the context of the current global enjoying a 6% market achieve success in the market?
Gulf Air has recently been awarded challenges faced by the aviation Gulf Air has faced challenges in operating in
industry, how is Gulf Air addressing share in Bangladesh. It Bangladesh, such as regulatory issues, fund re-
‘World’s Most Improved Airline’ issues such as fluctuating fuel prices, plans to expand the market patriation and competition from other airlines.
changing travel patterns, and the The airline has effectively managed to over-
and signed a strategic deal with impact of the pandemic on air travel? presence in Bangladesh by come these challenges by investing in modern
Biman that will boost connectivity. Gulf Air is addressing the challenges faced by
the aviation industry by implementing cost-sav-
increasing flight frequency technology, maintaining PR, improving its ser-
vices and forming strategic partnerships with
The Business Standard spoke with ing measures, such as fuel-efficient aircraft and and offering more travel other airlines.
optimised flight routes. The airline is also closely
Maruful Islam Jhalak, managing monitoring changing travel patterns and adjust- options to customers. With the growing interest in the
ing its services accordingly. Chattogram market, how does Gulf
director of Gulf Air’s GSA for In response to the pandemic, Gulf Air imple- Air plan to approach this potential
mented strict health and safety protocols to en- flight frequency and offering more travel options expansion, and what specific factors
Bangladesh, on their recent success sure the safety of its passengers and crew. to its customers. The agents play a crucial role in are being considered in evaluating the
and future plans The airline is also exploring new technolo- achieving this goal by promoting Gulf Air’s ser- feasibility of operating in this region?
gies, such as artificial intelligence and block- vices and providing personalised services to its Due to the lack of infrastructure, process and
chain, to improve its operations and enhance the customers. limited GHA resources in place only 5% of the
customer experience. market demand against overall industry sales
With the growing number of migrant has been directly involved from CGP to various
What motivated Gulf Air to pursue a workers and leisure travellers from destinations. Furthermore, out of the total Air
strategic codeshare agreement with Biman Bangladesh, how does Gulf Air plan to Freight exports from Bangladesh, 20% of the vol-
Bangladesh Airlines at this particular time? tailor its services to meet the diverse needs ume originates from CGP.
Gulf Air pursued a strategic codeshare agree- of these two distinct passenger segments? Gulf Air is evaluating the feasibility of oper-
ment with Biman Bangladesh Airlines to expand Gulf Air plans to tailor its services to meet the ating in the Chattogram market by considering
its route network and offer more travel options to diverse needs of migrant workers and leisure factors such as market demand, competition and
its customers. travellers from Bangladesh by offering person- regulatory requirements. The airline will work
The partnership with Biman Bangladesh alised services and enhancing its in-flight ex- closely with its agents and other stakeholders to
Airlines will enhance travel connectivity and perience. understand the needs of its customers and pro-
convenience for passengers travelling between The airline will also work closely with its vide tailored services accordingly.
 THE BUSINESS STANDARD
WEDNESDAY 25.10.2023
27

THE RISE OF COMMERCIAL

AIRLINES IN BANGLADESH
PHOTO: COLLECTED

Although KAMRAN SIDDIQUI highlighting the substantial potential for further dicates that the country’s airports handled 9.63

O
growth in the Bangladesh air transport industry. million international passengers in 2022, sur-
challenged by ver the past decade, the commercial air- Out of the 33 existing airlines, 12 foreign carri- passing the pre-pandemic 2019 figure of 8.59 mil-
line industry in Bangladesh has demon- ers have expressed interest in operating flights lion. This growth is attributed to a rising number
internal and strated remarkable resilience and growth, to and from Bangladesh, particularly following of travellers, including migrant workers, non-
with an annual expansion rate exceeding 8%, the partial inauguration of the much-anticipated resident Bangladeshis, and the expanding mid-
external factors, despite facing challenges such as the cessation third terminal at Hazrat Shahjalal International dle and upper-class segments of the population.
Projections suggest that air travel to and from
the future of of operations by some private carriers.
Key indicators are pointing towards a promis-
Airport, Dhaka.
Squadron Leader Lutfor Rahman, CEO of Bangladesh will double by 2031, with anticipated
commercial airlines ing future, including projections that the number US-Bangla Airlines, expresses optimism for the If you look at the big annual growth rates of 6% for international trav-
of air travellers will double by 2031. In response, industry’s future, emphasising that the positive el, 8% for domestic travel, and 6.4% in total. As
in Bangladesh airlines in Bangladesh are pursuing fleet expan- trend and growth are evident. “Even a few years picture, while domestic a result, there is a pressing need for more aircraft
appears promising, sion and increasing flight frequencies. However,
private airlines are advocating for more business-
ago, you would have thought that the airlines in
our country might close down. But after all, now
travel might slow down a to capture the market opportunities, according to
Juan Camilo Rodríguez, manager of Wide-body
with significant friendly regulatory frameworks and policies to we are growing.” bit, international travel Market Development at Airbus.
enable them to compete effectively with foreign He stresses that various aspects, including in- Boeing, another aerospace giant, has released
growth potential carriers in the burgeoning aviation market. frastructure and human resource development, is on the rise, with an optimistic forecasts for future aircraft sales, par-
Biman Bangladesh Airlines, the national car- must be improved for sustained growth. expected annual increase ticularly in Asia, with Bangladesh leading the
driven by increased rier, is the major player in the Bangladeshi avia- The aviation industry in Bangladesh has way. Boeing’s Commercial Market Outlook pre-
tion landscape. In just three years, from 2019 to reached its golden jubilee since the establish- of 6% to 7%. Our strategy dicts that by 2032, Bangladesh will achieve an
passenger demand, 2021, Biman Bangladesh Airlines doubled its seat ment of Biman Bangladesh in 1972. Many air- revolves around staying annual economic growth rate exceeding 5%,
twice the global average, leading to nearly 8.5%
expanding fleets, capacity to a total of 4,698 seats. Furthermore,
the airline plans to add 10 more widebody air-
lines have come and gone during this time, with
some suffering financial woes and ultimately attuned to passengers' annual growth in air traffic.
and strategic craft from Airbus to its existing fleet of 21. closing down. desires. We are adapting Mofizur Rahman, the secretary-general of the
US-Bangla, the largest private airline, has ex- However, private airlines like US-Bangla and Aviation Operators Association of Bangladesh,
investments in perienced a remarkable growth of over 800% in NovoAir have defied the odds and demonstrat- our fleet to align with emphasises that while domestic travel may face

infrastructure seat capacity within seven years, boasting more

than 1,200 seats in total according to a 2021 study
ed substantial growth, directly employing over
10,000 people. In addition to the four commercial
their evolving needs and challenges, international travel is on the rise.
“If you look at the big picture, while domestic
to support the by The Institute of Chartered Accountants of airlines, various other entities, including airport our future growth. travel might slow down a bit, international travel
Bangladesh. Another prominent private airline, authorities, training institutes, cargo services, is on the rise, with an expected annual increase
.....
booming aviation NovoAir, has seen a 400% increase in seat capac- and helicopter operators, contribute to the indus-
MOFIZUR RAHMAN
of 6% to 7%,” he said. “Our strategy revolves
ity within the same seven-year timeframe, thanks try’s overall employment figures, reaching the around staying attuned to passengers’ desires.
industry to the phased acquisition of seven ATR aircraft. International Air Transport Association’s (IATA)
SECRETARY-GENERAL, AVIATION OPERATORS
ASSOCIATION OF BANGLADESH AND MANAGING
We are adapting our fleet to align with their
The aviation industry in Bangladesh has been estimated total of 17,000 direct employees. DIRECTOR, NOVOAIR evolving needs and our future growth. We re-
described as booming. Between 2013 and 2017, When discussing the decline in the airline main committed to conducting annual check-ins
air travel saw a 22.1% increase internationally business, Air Vice Marshal M Mafidur Rahman, to ensure that we are meeting the requirements
and a significant 64.7% increase domestically, chairman of CAAB, attributes it to inadequate of international travellers,” he added.
as reported by the Civil Aviation Authority of compliance with licensing requirements, poor Despite these challenges, the expansion of
Bangladesh (CAAB). This growth is attributed to management, and a lack of economic viability the airline industry in Bangladesh is dependent
the country’s large population of 170 million, its among operators. However, he acknowledges on investments in infrastructure, which is con-
projected economic development by 2026, and that efforts are being made to assess the capacity sidered a crucial factor in ensuring its long-term
the portion of the population with sufficient dis- of airlines to ensure their sustainability, with the success.
posable income to support air travel. guidance of international aviation organisations. Expanding also involves acquiring new
Notably, 80% of passenger and cargo trans- The future outlook for the aviation industry planes, which is a clear indication that investing
port is currently dominated by foreign carriers, in Bangladesh is promising. Data from CAAB in- in infrastructure eventually pays off.

What needs to be done to

help local private airlines
survive and thrive?
KAMRAN SIDDIQUI rul further said.

L
According to industry insiders, about 40%
ocal private airlines in Bangladesh are of an airline’s operating costs consist of jet fuel,
seeking more business-friendly policies and all airlines in Bangladesh face higher jet fuel
and regulatory frameworks due to their prices compared to their global competitors.
struggles with high business capital and jet fuel “Fluctuations in jet fuel prices significantly
costs. Complications related to machinery im- affect our ability to forecast operational costs,”
ports, inadequate maintenance facilities, high expressed Mofizur Rahman, secretary-general of
duties, limited human resource development the Aviation Operators Association of Bangladesh
capacity, and challenges with air service agree- (AOAB) and managing director of NovoAir.
ments with other countries have further exacer- “In our region, we consistently contend with
bated their difficulties. oil prices that are 30-40% higher than global mar-
“These challenges have hindered our ability ket rates. Sustaining any aviation service under
to compete with foreign airlines and the national these high-cost conditions becomes an enormous
carrier, Biman Bangladesh Airlines,” says Md challenge.”
Kamrul Islam, general manager of US-Bangla He further pointed out that when global crude
Airlines. oil prices decrease, local airlines cannot reap the
Industry insiders say that the disparity be- benefits as the prices charged to them remain un-
tween Biman Bangladesh Airlines and private changed.
airlines through undue patronisation by the state “High jet fuel prices, in addition to high busi-
carrier is a significant barrier to their expansion. ness capital costs, pose significant challenges for
Over the past 26-27 years, several private op- the existence of local carriers. If an airline seeks
erators, including GMG Airlines, United Airways, local financing, the cost can be more than ten to
and Regent Airways, had to ground their fleets as thirteen percent, whereas foreign carriers based
they struggled to survive. Currently, the three pri- in the Middle East or Southeast Asia enjoy lower
vately operating airlines — US-Bangla, NovoAir, capital costs of 3% to 5%,” Mofizur said.
and Air Astra — are expressing concerns about Imran Asif, CEO of Air Astra, emphasised, “If
their ability to capture the growing aviation mar- the cost of capital is reduced, foreign carriers gain
ket from foreign competitors due to inadequate a significant advantage in overall expenditure,
policy support. making it challenging for Bangladeshi carriers to
“For the last two and a half decades, we have compete with international carriers.”
witnessed a troubling trend of private airlines He also highlighted issues with air service
closing down, causing significant instability in agreements, stating, “The air service agreement
the industry,” said Kamrul Islam. outlines the permissible frequencies or routes
“The government has granted opportunities that can be operated between our country and
for the three existing private airlines to operate, another nation on a weekly basis.”
and it is the government’s responsibility to ensure However, there are instances where Bangla-
their survival. Currently, local airlines, including deshi airlines aspire to expand their operations,
Biman, represent only 20% of the market, so they only to find that the required frequencies are una-
require comprehensive support to regain market vailable within the existing agreement.
share from foreign carriers,” he added. “Unfortunately, the process to amend the
“Expanding our capacity and fleet availabili- agreement tends to be protracted due to bureau-
ty is essential to compete effectively with foreign cratic complexities in Bangladesh. By the time
airlines. Additionally, if we reduce operational this revision is completed, foreign airlines often
costs, we can make air travel more affordable for seize the opportunity to enhance their capacity
passengers, giving us a competitive edge,” Kam- by deploying larger aircraft,” he added.
28 WEDNESDAY 25.10.2023 THE BUSINESS STANDARD