La Semaine Dernière A Mes Yeux

(16 septembre --- 23 septembre)

Ma Semaine Gastronomique

Date	Petit déjeuner	Déjeuner	Dîner	Snacks,Sucreries,Boissons et Fritures
17	Pain tchapati,Omelette	Riz,Courge amère, Soupe aux lentilles, Bombili poisson	Pain tchapati,Poisson Bombili,Papaye,Lait	Riz gonflé,Arrachides
18	Pain tchapati,Pommes de terre bhaji,Lait	Riz,Barbe-Verre poisson,Pommes de terre,Papaye,Soupe aux lentilles	Nouilles	---
19	Pain tchapati,Haricot vert-Papaye,Lait	Riz,Ruhi,Gourde de serpent	Pain tchapati(fait par moi),Ruhi	Riz gonflé
20	Pain tchapati,Gourde de serpent,Œuf poché	Riz,Papaye-Carotte-Pommes de terre,Eddoe(Petit Taro chinois),Soupe aux lentilles	Pain tchapati(fait par moi), Papaye-Carotte-Pommes de terre,Gourde de serpent	Jhal Mury
21	Pain tchapati,Papaye-Carotte-Pommes de terre	Riz,Purée de pomme de terre,Sauce d'Hilsa,Gobie griffonnée,Soupe aux lentilles	Pain tchapati(fait par moi),Ruhi	Tchanatchur
22	Pain tchapati,Gobie griffonnée	Riz,Banane verte,Gobie griffonnée,Soupe aux lentilles	Riz,Banane verte,Purée de pomme de terre	Riz gonflé
23	Pain tchapati, dans soupe aux lentilles	Riz,Épinard malabar, Ruhi,Tête de Ruhi dans soupe aux haricot rouge	Riz,Épinard malabar, Ruhi,Tête de Ruhi dans soupe aux haricot rouge	Riz gonflé

Bangladesh Bans Bitcoin

For money laundering,MFS gets the blame, TK 750 billion gone as per Police claim. Central bank reminds ban on cryptocurrency, Consultation is key to stop this tendency.

Recently, Bangladesh Bank issued a circular banning bitcoin in Bangladesh. Credit cards issued by local banks and Mobile Financial Services (MFS) are increasingly being used to do transaction in bitcoin,noted Bangladesh Bank¹. Bangladesh does not allow virtual currency. So bitcoin is illegal.

The ban came in the wake of a police investigation that claimed TK 750 billion were laundered abroad in the last ten years through MFS and commercial banks. And in the last one year TK 250 billion were smuggled out of the country through MFS,which plays a crucial role in digital inclusion of the mass.

In recent years,e-commerce platforms came under intense criticism following a series of scams in the e-commerce sector.Many crooked e-commerce platforms swindled clients' money. Recently row over ownership of a newly launched MFS platform between a company and Bangladesh Post Office called into question objectives of such platforms.However, it did not bar people from subscribing to such platforms and do transaction. The same platform is the object of a fresh debate after it failed to repay part of a loan to a commercial bank as it lacks enough money to pay back the loan.

I do not think it is quite right to put the blame squarely on MFS operators for all the wrongdoings. Some crooked owners and clients are mostly behind in this kind of debate.

There is no doubt that some bad quarters use bit coin to do illicit transaction.But there is no point to get strict with MFS operators. And government does not have mechanism to stop such transactions. Country like El Salvador, where organized criminal groups hold sway over govt,only legalized bitcoin. But it does not mean bitcoin in general is associated with all the bad things. If proper law and other international regulations are put in place,bitcoin could be used to use as a tender in doing transaction with countries that are forced to quit international payment platforms like SWIFT. Particularly true for countries which have obligations to pay loan instalment but cannot do because of sanctions on creditor country.

But it is unsafe and risky in doing transaction in bitcoin as most of the countries do not recognize it and there are inadequate laws and regulations for its governance.However, govt can allow setting up facilities for bitcoin mining for other countries. In Kazakhstan, a Chinese company set up such a facility and paid the govt fees. It stores virtual currency related data. Such facility consumes a lot of electricity².

Recently, a Chinese company approached Dhaka North City Corporation and offered to invest in setting up a power plant producing electricity from garbage. The Company will do all the investment and DNCC has to purchase the electricity at a predetermined price³. Few megawatts of electricity do not call for such proposal.

Currently we have many rental and captive power plants for industrial use. I fear many such plants may be used for bitcoin mining operations. When you are producing RMG items or other industrial items ,price of electricity could play a role in fixing the price of good in a bid to maintain competitive edge. But when you are clandestinely operating such facility you are doing great disservice to subsidized electricity. Electricity bill for such mining facility should not be same as those for an industrial unit.Govt is also deprived of vital revenue. If govt allows such facility,govt will get regular revenue and higher prices for electricity.

This should also be applicable for individuals who operate such facility at micro level.

Central bank did the right thing by banning the bitcoin. But MFS operators are not part of the problems when millions of people do transactions worth billions of Taka daily. Rather,they have to be consulted to devise a durable mean to reduce incidence of money laundering.

Notes And References:

1. "Bangladesh Bank Warns Against Accepting Export Proceeds In And Buying Cryptocurrency",bdnews24.com,September 15,2022. For more read at https://tinyurl.com/4b7tfz7h
2. "China Crypto Miners Turn To Kazakhstan ",Forkast News. For more see at https://tinyurl.com/bdfvkjvc
3. "Waste To Electricity:China To Build Powerplant For DNCC Areas", Rejaul Karim Byron and Helemul Alam,Daily Star,November 13,2020. For more read at https://tinyurl.com/bdezjc3h

La Semaine Dernière A Mes Yeux

(09 septembre --- 16 septembre)

Ma Semaine Gastronomique

Date	Petit déjeuner	Déjeuner	Dîner	Snacks,Sucreries,Boissons et Fritures
10	Paratha,Soupe aux lentilles,Haricot Vert	Riz,Louffa-Haricot vert-Eddoe(Petit Taro chinois) ,Haricot vert,Bombili poisson	Riz,Pois de chiches avec pommes de terre,Haricot vert,Œuf poché	Jhal Mury,Lait
11	Pain tchapati,Haricot vert	Riz,Gourde serpent, Ruhi avec pommes de terre,Tête de poisson Ruhi dans la soupe aux haricots mungo	Riz,Ruhi avec pommes de terre,Tête de poisson Ruhi dans la soupe aux haricots mungo	Lait
12	Pain tchapati,Tête de poisson Ruhi dans la soupe aux haricots mungo	Riz,Courge amère,Soupe aux lentilles, Papaye Haricot vert,Bombili poisson	Riz, ,Courge amère,Soupe aux lentilles, Papaye Haricot vert,Bombili poisson, Œuf poché	Riz gonflé
13	Pain tchapati,Papaye-Haricot vert	Riz,Poisson bombili,Œuf poché,Eddoe(Petit Taro Chinois)	Riz,Purée de pomme de terre,Soupe aux lentilles	Riz gonflé
14	Pain tchapati,Omelette	Riz,Purée de cumin noir,Purée de peau de gourde pointue,Papaye-pommes de terre,Œuf poché	Riz,Pois de chiches avec pommes de terre,Haricot vert,Œuf poché	Riz gonflé
15	Pain tchapati,Papaye-Carotte	Riz,Épinard mzlabar,Soupe aux lentilles,Courge amère,Gourde épineuse avec Ruhi poisson	Pain tchapati(fait par moi),Courge amère,Œuf poché,Gourde épineuse	Riz gonflé,Lait
16	Pain tchapati,Papaye-Carotte	Riz,Purée de banane verte,Lobe vert d'arum,Soupe aux lentilles	Pain tchapati(fait par moi),Œuf poché, Lobe vert d'arum	Riz gonflé

Investment Should Not Become Liability

Investors with dubious intention Cause trouble and irritation. Revenue loss,fraudulent activity Result of investment-liability.

For the development of a country, investment plays a crucial role. Foreign Direct Investment fosters employment generation. FDI also brings foreign currency/US dollar into the country. Bangladesh right now feels the hit of a record current account deficit due to lack of foreign currencies.

Apart from that the most crucial thing FDI does is to bring new technology that propels a country to a new stage by increasing productivity, value addition and access to wider market.

Failure to meet these goals deviates a country from the road to reach the next destination. Just a month ago I came across a news report that divulged how our investment policies are being misused by a vested group who plays all the dirty tricks in its book to fool the authority. The report says a Chinese company CONDA Art Materials opened a factory at Chattogram EPZ and exported goods to various countries using “Made In Bangladesh “ label. EPZ authority to its surprise found that the company put “Made In Bangladesh “ tag on Chinese-made goods,forged documents and exported the goods abroad,evading taxes and other tariffs applicable to it as per Bangladeshi laws. The company even paid punitive fees for its act¹.

In this case,no value addition took place,government did not get proper revenue and workers missed the remuneration that went to Chinese workers pockets.”Made In Bangladesh “ price tag is deliberately misused to market goods that are not produced by Bangladeshis.Danger is such misdeed may be replicated if no action is taken.

We need FDI. But who are investing here, how they plan to go ahead with their proposed projects,type of investment are the things that call for greater scrutiny.

Bangladesh lies in a region where bouts of corruption,turmoil, longest running insurgency prevail.Bitter truth is that these things have leverage on our external trade.We should be more cautious to maintain our independent and buffer role when when we give nod to FDIs.

In social media,I watched few videos made by British Travel blogger Simon Wilson who coincidentally/accidentally unearthed how the good intentions of investment may turn ugly. In Cyprus, a British gangster invested in real-estate in a bid to legalize his wealth which he amassed somewhere else. The investment was not properly planned or done with dubious intentions.It led to unsold houses. Some even went to court to sue the gangster for selling one unit of house to multiple clients².

In this case,investment did not resolve the housing problem of the Cypriots and the worst part is that criminal activity spread to other part of the Europe.

Bangladesh’s resource is limited and capacity of our government is not good enough like those of other countries.So detection of fraudulent acts in disguise of investment / economic activity is an uphill task for a poor and corrupt country like ours.

What is worrying we do not have laws or institutions that could distil undocumented money and convert them into productive capital and direct it to economic activities.

Investment, be it domestic or foreign ,should not turn sour. In the case of Cyprus, investment made by British gangster may drive up the housing prices,making it difficult for the ordinary Cypriots to buy a house. Waste of resources (man-hour,land) is also observed. In Myanmar, operation of foreign tour operators did not bring any foreign currency due to Chinese tour operators’ “zero-dolllar” policy. So every penny spent by a tourist went straight into the pockets of Chinese tour operators who arranged the trip. In this case, investment did a tremendous disservice to local industry.

The case of metro could be brought here for discussion. We made investment in public transportation not for quick returns. Metro is considered cheapest mode of transportation.Aam-Admi(ordinary people) travel on metro.That is why fare is cheaper than bus.But in Bangladesh, according to a news report by the Daily Star,minimum fare of metro is TK 20 whereas it is TK 8 for bus.Across the globe metro system is conceived and designed for the mass. And its pricing reflects it.Metro fare in Bangladesh is even higher than that exists in the neighboring countries. I think per kilo fare of metro should be less than per kilo fare of bus,now TK 2 or 2.20. A fare in the range of TK 0.75 –TK 1.5 would be ideal for me.If Delhi,Kolkata can expand their network with such a low fare,then Bangladesh can also follow their footsteps.

Investment should not be a mean to amplify the ordeals of ordinary citizens. It should not be a scope to rich the portfolio of those with bad reputation.It should not also be a source to increase the liability of the country.

Notes And References:

1. ”Chiney Toirey ‘Made In Bangladesh' Ponno Jukto Rashtrey Roftani Kora Hochhey(Chinese Made ‘Made In Bangladesh' Products Are Being Exported To USA)”,AOW News. For more see https://tinyurl.com/44b5ryve
2. Simon Wilson's video on Cyprus millionaire,"Abandoned Millionaire Ghost Town In Cyprus". For more see https://tinyurl.com/ytjdn9z7

La Semaine Dernière A Mes Yeux

(02 septembre --- 09 septembre)

Ma Semaine Gastronomique

Date	Petit déjeuner	Déjeuner	Dîner	Snacks,Sucreries,Boissons et Fritures
03	Pain tchapati,Haricot vert	Riz,Bombili poisson,Soupe aux lentilles	Riz,Haricot vert,Omelette, Soupe aux lentilles	Riz gonflé, Miel,Lait
04	Pain tchapati,Lait	Riz,Purée de Pomme de terre,Haricot Vert,Soupe aux Lentilles	Riz,Purée de Pomme de terre,Haricot Vert,Soupe aux Lentilles,Lait	Riz gonflé,Miel
05	Pain tchapati,Œuf poché,Haricot vert	Riz, Purée de pomme de terre,Soupe aux lentilles	Riz,Purée de pomme de terre,Œuf poché,Soupe aux lentilles	Lait, Miel
06	Pain tchapati,Citrouilles	Riz,Citrouilles, Ruhi poisson	Riz,Ruhi poisson,Papaye-Pommes de terre	Riz gonflé,
07	Pain tchapati,Œuf poché,Papaye-Pommes de terre	Riz,Ruhi,Épinards malabar,Soupe aux lentilles, Papaye-Pommes de terre	Riz,Papaye-Pommes de terre,Haricot Vert>	Lait,Riz gonflé
08	Pain tchapati,Omelette, Haricot vert	Riz,Courge amère,Papaye,Purée de pomme de terre	Riz,Courge amère,Purée de pomme de terre,Œuf poché	Riz gonflé
09	Pain tchapati,Papaye	Riz,Épinards de l'eau,Luffa-Haricot vert	Riz,Épinard de l'eau,Œuf poché,Soupe aux lentilles,Luffa-Haricot Vert	Jhal Mury

Now Tea Becomes Costlier

After milk,tea becomes costlier Hinting a market no longer holier. More entry and regular hearing Could end the price engineering.

In a surprise move, tea distributing companies have raised the price of tea by Tk 60 per kilo.It came in the wake of government’s decision to raise the daily wage of tea workers from TK 120 to TK 170,the lowest daily wage of a tea-worker in the world.Before that tea-workers across Moulavibazar and Sylhet went into strikes demanding a wage hike. But the tea-garden owners were adamant that they would not give in to workers' demands. Intervention of the govt resolved the standoff.

The condition of tea-workers is really horrific. They could vie for a true case of bonded-labor. Colonial garden owners lured them from various parts of India to work in tea plantations in the Bengal. They were given a contract with a meagre salary and deceived to continue the work generation after generation. Their children do not get proper education. So they cannot scale up from poverty. Neither they can get easy credit /opportunity to start their own businesses. TK 120 /day as salary was not only inadequate to feed couple of mouths in the family,it was unjust. So their protest was just and garnered lots of attention.

The little increase TK 170 is still unjust. In addition, it can hardly meet daily expenses in this high inflation era.However, the fuel price hike coupled with wage increase used as pretext to raise the tea price. As I was watching a news clip,one garden-owner shrugged off the responsibility laying the blame squarely on the distributors who invented lots of reasons to justify the price hike.

Rise in prices of milk,meat and rice still rankled with ordinary citizens. Tk 60 increase in one kilo rubs salt to inflation-injury.

However, govt's announcement to reduce diesel price by TK 5 is viewed as gentle breeze to this never-ending price heatwave. But the decision is yet to be translated into prices of essential items.

Big distributors engaged in marketing tea have other ventures too,as we see in the case of other consumer goods. Some even own their own gardens. The price increase came as a shock.If gardens were allowed to market tea at consumers’ doorstep,we would see much lower prices of tea than what we are seeing now. A complete revamp in marketing and distribution of tea is what we want to see now.

For far too long,we have tolerated anarchy in consumer goods and agro-processed goods market by allowing few operators who managed their capital from tobacco,distillery,lending,pharmaceuticals and real-estate businesses.Yet consumers have not seen any drop in prices. An active role of consumer rights body and entry of new comers into the market could put an end to this bad practice.

La Semaine Dernière A Mes Yeux

(26 août --- 02 septembre)

Ma Semaine Gastronomique

Date	Petit déjeuner	Déjeuner	Dîner	Snacks,Sucreries,Boissons et Fritures
27	Paratha,Omelette	Riz,Soupe aux lentilles, Épinards malabar,Papaye-Citrouilles	---	Lait
28	Pain tchapati,Rice pudding ,Lait	Riz,Anguille en zigzag poisson,Soupe aux lentilles	Riz,Purée de pommes de terre,Soupe aux lentilles	---
29	Pain tchapati,Omelette	Riz,Courge amère,Ruhi,Soupe aux lentilles	Riz,Pois de chiches avec pommes de terre,Courge amère,Ruhi	Singara
30	Pain tchapati,Omelette,Lait	Riz,Haricot vert,Courge amère,Soupe aux lentilles	Riz,Haricot vert,Soupe aux lentilles	Lait,Gâteau au rônier,Miel
31	Pain tchapati,Haricot vert,Lait	Riz,Courge amère,Papaye-pommes de terre,Poisson-chat à moustache longue	Riz,Papaye-pommes de terre,Soupe aux lentilles, Omelette	Riz gonflé,Miel
01	Pain tchapati,Haricot vert,Lait	Riz,Citrouilles-Gourde pointue, Purée de la peau de gourde pointue, Purée de la peau de gourde calebasse,Soupe aux lentilles	Riz,,Citrouilles-Gourde pointue, Purée de la peau de gourde pointue, Purée de la peau de gourde calebasse,Soupe aux lentilles	Lait,Riz gonflé,Miel
02	Pain tchapati,Lait	Riz,Ruhi poisson avec gourde épineuse, Haricot vert	Riz,Ruhi poisson avec gourde épineuse, Haricot vert	Riz gonflé,Miel,Lait