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Friday, February 13, 2009

[ALOCHONA] Re: [notun_bangladesh] This is just the start of reality in Bangladesh, more to come

Rightly said. He is another great Chatukar like the Octegenerian toasted(sorrry tested ???) leader who once siad in the mohan Shangsad that her grand daughter like mohan netri do not have time else she would received a P.hd every single month.
There are more clowns and jokers/duffers/ignorant like the Finance man in the Hasi Bubus "CHAMAK  CABINET"

Faruque Alamgir



On Wed, Feb 11, 2009 at 10:04 PM, Salahuddin Ayubi <s_ayubi786@yahoo.com> wrote:

Muhit would do better as the clown of circus rather than being the finance minister.
                  Ayubi

--- On Wed, 2/11/09, M. M. Chowdhury (Mithu) <cgmpservices@yahoo.com> wrote:
From: M. M. Chowdhury (Mithu) <cgmpservices@yahoo.com>
Subject: [notun_bangladesh] This is just the start of reality in Bangladesh, more to come
To: cgmpservices@yahoo.com
Date: Wednesday, February 11, 2009, 2:26 PM

Muhith refuses comment on stocks turmoil
Wed, Feb 11th, 2009 6:45 pm BdST
Dhaka, Feb 11  – Finance minister AMA Muhith refused comments Wednesday on the ongoing turmoil of the capital market.

"I have no comments on the capital market...... .the SEC (Securities and Exchange Commission) will talk about it," he said, fending off queries from reporters at the ministry after a meeting with a delegation of the Bankers Association of Bangladesh.

The market has been seeing a downturn for more than five weeks with the indices on the country's twin bourses plummeting for a fourth straight day on Wednesday due to continued sell-offs by panicky investors.

On Monday, Dhaka Stock Exchange's benchmark DGEN or the general index lost about 70 points followed by a fall of 45 points Tuesday on the opening session, prompting retail investors to take to the streets.

The DSE benchmark on Wednesday shed 86.54 points or 3.45 percent to end on 2416.66, dropping to the lowest in 17 months with the DSI or all share price index closing at 2013.61, down by 70.91 points or 3.40 percent.

Indices on the Chittagong Stock Exchange also fell. The selective categories index or CSCX finished at 4793.31, falling 178.38 points or 3.58 percent while the all share price index or CASPI slumped 267.85 points or 3.46 percent.

A liquidity crunch and poor institutional participation have been cited as the reason behind the gloomy atmosphere of the market.
"There is a shortage of liquidity in the market as retail investors are unable to pour money amid low prices of their holdings," DSE senior vice president Saiful Islam told bdnews24.com.

SEC executive director Farhad Ahmed added low participation of institutional investors triggered the recent market turmoil.
"Institutions are refraining from trading which has intensified the crisis."

Meanwhile, the market regulator came up with a series of measures to inject funds into the market followed by a meeting with the DSE authorities.

The SEC raised brokerage firms' credit margin to 1:1 ratio from existing 1:0.67, which means brokers would be able to give away loans equivalent to deposits

Other measures include opening of another counter for trading of shares of non-performing 'Z' category scrips to discourage investors from taking part in the trade of those shares.

It also decided to propose to Bangladesh Bank to increase the brokers' borrowing limits from banks.

At present, each broker can avail bank financing up to Tk 1 crore against its membership of the DSE.

But brokers argued the value of each of their membership was not below Tk 15 crore.

"The increase in this limit would enable us to take part in the market with more liquidity," said a senior official of IDLC Securities, preferring anonymity.

The market regulator also agreed to expedite the process of awarding merchant banking licences to banks and financial institutions to ensure increased participation in trading.


--- On Sun, 2/8/09, M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com> wrote:
From: M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com>
Subject: Financial and Strategic Warning to Current Govt in Bangladesh
To: cgmpservices@ yahoo.com
Date: Sunday, February 8, 2009, 2:23 PM


I am so much worry about few of Moran Minsters in Bangladesh that they may sink the ship in Bangladesh while they are in driver seats.  The reason of my frustration is that they are stoning wrong birds to accomplish people needs.  Now I am hearing the following statements:
 
 
2) Signing Transit Agreement with India is not ripe time yet.  Every country is building bunkers for their survival, nobody will give you more, so signing with them won't help you a penny..
 
3) South Asian Security Force.  A recipe for a disaster unless Bangladesh is Iraq or Afghanistan situation.  US canceled TIFA since they are in big hole in financial situation.
 
4) Trail of Razakars should be second priority under the current financial condition of Bangladesh.  This will take off our real focus of emergency needs in Bangladesh.
 
5) Law and Order is deteriorating - Taj.  This is the benchmark for any Govt success.
 
6) Mr. Zillur as a President is a wrong choice in wrong time.  Bnagladesh needs a dynamic, strong, visionary person to lead Bangladesh in this tough time.  No time to bring oxygen tanks and carry all places.
 
The bottom line is that why either AL or BNP parties does not have qualified people to run Bangladesh and establish the priorities that they need to focus.  I am more than convinced now that Current Govt needs to bring expertise and experiences NRBs to develop few strategic plan and focus which will help Bangladesh next 3-4 years.
 
I hope that someone in AL Govt listening my call.  Even they do not listen to me,  I have nothing to loose but I believe that I should do for Bangladesh as much as possible with my power and limitation.
 
God Bless Bangladesh and help poor people in this coming financial storm. 
 
Regards,
M. M. Chowdhury (Mithu), Virginia, USA
 
 

--- On Sun, 2/1/09, M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com> wrote:
From: M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com>
Subject: Bangladesh Needs Local Stimulate Package
To: cgmpservices@ yahoo.com
Date: Sunday, February 1, 2009, 9:25 PM


The following are real strategies which will help Bangladesh to ride over this upcoming financial turmoil:
 
1) Provide stimulate package to ICT companies and provide all Govt ICT projects to locals to make digital Bangladesh.  If some one in current Govt knows what digital means to them.  Use local programmers and networking engineers to employ as much as possible.  This will create enough works to keep ICT going with creating more jobs.
 
2) Provide enough finance to build the Pharmaceuticals park at Munshigonj.  20% works was done, complete this projects which will create huge jobs for now.
 
3) Since overseas market is bad,  few of NRBs might be interested to come back Bangladesh to develop this country with their expertis and experiences.  Govt needs to make sure to provide tax free income during their stay in Bangladesh like Middle Eastern Countires.  Provide enough facilities and security to perform their work during living in Bangladesh.
 
4) If there is less corruption in Bangladesh,  NRBs might be interested to invest in Bangladesh to take opportunity during this financial turmoil.
 
5) Bangladesh Govt needs to adopt new policy to attract NRBs in Bangladesh.
 
Regards,
M. M. Chowdhury (Mithu), Virginia, USA
www.changebanglades h.org

--- On Fri, 1/30/09, M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com> wrote:
From: M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com>
Subject: Perfect Storm is coming to Bangladesh
To: cgmpservices@ yahoo.com
Date: Friday, January 30, 2009, 5:28 PM

Dear All,
 
You may wonder what kind of storm I am talking about.  It's  economical storm that Bangladesh never experienced before.  I am little bit worried that economists and present Minsters in Bangladesh are not paying much attention about this storm.  Well the problem is that if you do not know a Storm is coming, then you won't be prepared for it.  There will be a situation that we will start blame game, he or she didn't tell me, I didn't know, nobody even PM didn't say this.  Well then listen from me please.
 
My conservative estimate is that economical storm in the world will exist until 2012,  if you can ride on this storm, then you will survive, if you can't then good luck.  I like to provide few strategic outlines what to do in this perfect economical storm in Bangladesh.
 
1) Current Govt should recognize that a perfect storm is coming.  If USA could recognize this storm in 2006,  USA won't be in this position now.
 
2) Put resources in place so Govt can take care its people and feed them trough out the storm period.
 
3) Stop biased or favoritism in Bangladesh.  Once I am hungry,  I won't say I am AL or BNP,  all I will say give me food and job to survive.  So based on basis of human rights,  its current Govt duty to help people regardless his or her party affiliations.
 
4) Bangladesh Real Estate bubble will be burst within year and so, so Govt should be prepared with huge layoff in that sector as well as other sectors.  Most of the Real Estate bubble in Bangladesh were created by NRBs and corrupted money in Bangladesh.  NRBs are real squeeze in financial aspect and won't be able to continue support the sky rocket price of land and apartments in Bangladesh.
 
5) Pharmaceuticals is the only sector which is recession proved in Bangladesh.  I have asked BNP Govt in 2005 to modernize this sector, CTG in 2007 and I am asking AL Govt in 2009 to pay attention and use NRBs expertise to develop this sector.  This is the only sector that you have no choice but to bring experts NRBs in Bangladesh to develop this sector for future growth.
 
6) NRBs and people in Bangladesh should lower their life style to ride on this storm.  Excessive waste will bring up other people's misery.
 
God Bless Bangladesh and help her 150 Million poor people in this coming perfect Storm.
 
Note:  My advise is not to direct any individuals or parties or NRBs, but to reach out to them and what we can do for the people during this bad economical  times.
 
Regards,
M. M. Chowdhury (Mithu), USA
Director, Political and Economical Development in Bangladesh
Change Bangladesh organization, USA
www.changebanglades h.org


--- On Tue, 1/20/09, M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com> wrote:
From: M. M. Chowdhury (Mithu) <cgmpservices@ yahoo.com>
Subject: [khabor.com] Why USA won't able to get out of this financial mess
To: cgmpservices@ yahoo.com
Date: Tuesday, January 20, 2009, 12:41 PM

Dear All,
 
I think and believe that we in USA are concern like any others about financial impact in USA and rest of the world and where this will lead us in the next 8 years.  I congratulate President Obama for taking the USA leadership but I am cautious like others even though I have campaign for Obama among Bangladeshi Community in USA.
 
Let's see the scenario why USA is in this position which is very different than 1930's and what steps should be taken for the incremental improvement.
 
Reasons for this mess
 
1) More than $20T, start with Trillion dollars of investors money has been lost in the last 12 months including personal 401K money. So the people confidence in companies is lower than ever.
 
2) More than 500,000 jobs have been cut per month by companies in USA, if it's continue then at the end of 2009 total 6 million jobs will be lost.  Adding 2 million jobs already have been lost in the last 24 months.  This is creating a nightmare for the consumers to spend  discretionary money.
 
3) Two third of the economy are depended on consumer spending,  when consumer stopped buying like before,  companies can not make money, their stocks goes down and companies start laying off to make baseline profit for the company.  This is called a cycle of uncertainty.
 
4) Biggest problem is that USA consumers has borrowed two times of their house worth for the last 5 years.  For example, if a house price is $100K in 1999, it went up to $300K in 2006, so extra $200K was borrowed from foreign countries to mortgage people's houses in USA.  Therefore, deficit went over the roof.  If this is continued,  few wealthy countries might not be interested to invest in USA like before because losing confidence into USA economy and their investment returns.
 
5) Once people lost jobs, they can not afford to pay high mortgage which they could not afford at the first place.  US Govt can not pay everybody extra interest for the mortgage they owe to banks.  This might come over $10T, start with Trillion.
 
6) Once companies make less money, the Govt tax collection also becomes low.  So more deficit for USA.  Intake is higher than delivery.
 
7) USA does not have leadership of many technologies like before, so USA has more competitors than before i.e. China and India.
 
8) More liability for baby boomers in years ahead, means need more money to take care her citizens like Social Security and Medicare.
 
9) Iraq war alone costs USA close to $1T and need another $1.2T to take care veterans health and financial liabilities.
 
10) Dollar might go down compare to others currency once foreign countries start withdraw their investment or stopped new investment in USA, i.e.  stop buying USA Bond.
 
Options to way of of this mess:
 
So what do USA have now?  President Obama's sweet talks might not bring much fruits unless he can show leadership and put new policies in place very quickly, so situation does not get out of control.  I personally think that President Obama should do the following for the love of this country.
 
1)  President Obama should provide executive order to cut military budget of $465B to only $50B.  Bring all military installation back home unless foreign countries provide the bill.
 
2) Provide middle class incentives as soon as possible.
 
3) Stop giving big money to banks but give direct loan to consumers from Govt Treasure.  I know it does not sound Capitalist,  but US Govt does not have any other option.  For example,  If I know that this consumer will not able to pay back my money,  I won't make loan to him even I get pressured from Govt unless Govt takes all the toxic assets.  Same situation, Banks are not lending even they got US Govt money.  Banks know consumers do not have enough money or may lose job soon whichever is first.
 
4) Provide stimulate money if there is any Corrective and Preventive Action (CAPA) in place for the new projects which will create jobs.
 
I hope and pray US gets out of this mess but I am very pessimistic now based on the scenario I have presented you here, unless miracle happens in USA.
 
God bless USA and her people.
 
Regards,
M. M. Chowdhury (Mithu), Virginia, USA
 




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