Bangladesh is all set to frame a national gold policy to smooth the progress and expansion of jewelry business in Bangladesh. Last month the jewelers of Bangladesh had demanded the formation of a national gold policy to make conform for the Bangladesh’s jewelry market, and allow them to buy bullion from the international market.

BJA – The Bangladesh Jewelers Association had written a letter to M Faruk Khan, the Commerce Minister, seeking his urgent intervention in this connection. They claimed that the minister had assured them of fulfilling his earlier pledge of formulating the policy within three months.

After receiving the letter from the BJA, the ministry of commerce formed an inter-ministerial committee in April to evaluate the demand, sources in the ministry said. In the last meeting, the committee members decided to formulate the gold import policy after scrutinizing the relevant policies of the neighboring countries, officials said.

“The committee also decided to make a jewelry industry policy, under the supervision of the industries ministry, immediately after formulation of the import policy,” an official said. The import policy will allow Bangladesh’s jewelry manufacturers to purchase gold through proper channels, which will benefit both the government and the gold businessmen.

Considering the present critical situation of the goldsmiths, the government is very much positive about formulation of the policy. It would rehabilitate them and also change the present large-scale migrating trend of the local goldsmiths to neighboring India,” a commerce ministry said.

“It is the failure of the successive government that they could not formulate a national gold policy in forty years since independence. Most of the countries, including India, Pakistan and China, have formulated their own gold policies long ago. We are very happy indeed to know that a national gold policy is going to be formulated immediately,” BJA president Dilip Roy said.

He also said the policy would help the jewelry industry flourish as a major export-oriented sector. “Soon after the implementation of the policy, the government should concentrate on solving the problems and exploring the prospects of exporting gold and diamond jewelry. The sector has a huge potential across the world,” said Enamul Haq Khan, former general secretary of BJA.

According to the reports there is clearly a bright prospect of Bangladesh’s gold and diamond jewelry and stuffs in the global market. Dilip Roy concluded that especially in the Middle East, Singapore, Thailand, Hong Kong and Malaysia there is a good market for the jewelry from Bangladesh. At present, laws do not permit traders to import gold from the international market, or to export gold ornaments.

Agartala, Oct 2 (IANS) India is explore the opportunity of structure power lines through the power of Bangladesh and provide power between the north-east and other parts of India, Union Power Minister Sushil Kumar Shinde said on Sunday.

“We should be very cooperative projects to meet the mounting needs of electricity as well as in India and neighboring countries,” Shinde told a seminar here, “Opportunities for Energy Production”

‘According to the projections of the 17th Electric Power Survey, over 100,000 MW of power would be required by the end of the 12th (Five Year) Plan (2012-2017),’ he said.

The minister said that 50 percent of the capacity addition of 66,000 MW during the 12th Plan was expected to be contributed by the private sector. This sector contributed 10 and 32 percent to power generation in the 10th and 11th plans respectively.

He said several private-public projects were being executed for manufacturing power plant equipment, including turbines. ‘Non-availability and delayed supply of equipment was one of the major reasons for sluggish capacity addition,’ he said.

The day-long seminar was jointly organized by a media group and the Tripura chapter of the Institutions of Engineers (India).

Urging the private sector to invest in power transmission, Shinde said: ‘After the success of electricity distribution by the private sector through a franchisee model in some parts of Maharashtra, Uttar Pradesh has decided to hand over power distribution in Agra and Kanpur to a private company on franchisee basis.’

He said that since India’s independence in 1947, power generation had increased from about 1,400 MW to about 167,000 MW.

According to official records, approximately 64 percent (108,363 MW) of energy comes from thermal (coal, gas and petroleum) sources, 24.7 percent (37,367 MW) from hydro sources, 2.9 percent (4560 MW) nuclear power plants and 7.7 percent (16,787 MW) of renewable energy sources.

Bangladesh and China will sign an economic cooperation pact during the visit of Chinese Vice President Xi Jinping, a Bangladeshi official said Monday.

Xi, who arrived here Monday on a two-day official visit, is making a ‘return visit’ to Prime Minister Sheikh Hasina’s March trip to China and will see updating on the pacts signed then.

This is the first visit by a Chinese leader since the Awami League-led government assumed power in January last year.

The Chinese vice president is leading a 35-member delegation and will sign an agreement regarding economic cooperation, under which China will provide 40 million yuan ($5.8 million) as a grant.

Over the past few years, China has replaced India as Bangladesh’s biggest import destination with bilateral trade between the two nations standing at US$ 4.58 billion, though heavily skewed in favour of Beijing with Bangladesh imports being US$ 4.4 billion.

Last month, China offered duty-free access to some 5,000 Bangladeshi products in a ‘goodwill gesture’.

China had opposed Bangladesh’s 1971 separation from Pakistan and recognised the new nation only in October 4, 1975. However, it has now emerged as the largest supplier of military hardware, besides a large number of commodities, to Bangladesh.

Jamaat-e-Islami has agreed to change the clause in its constitution on ‘divine law’ in the face of Election Commission’s objection.

The fundamentalist religion-based party will exclude sub-clause 5 under section 2 which states, in short, that the only sovereign power is the almighty Allah and that the party would not accept any law except that of the almighty.

On top of that, opposition BNP’s key ally will ensure that its central committee has 33 percent women as members by 2020.

Moreover, Jamaat submitted a written explanation about four other issues, secretary general Ali Ahsan Mohammad Mojaheed told reporters after a meeting with the Election Commission on Monday.

Chief election commissioner ATM Shamsul Huda, election commissioner M Sohul Hussain and the EC secretary were present at the meeting on the party’s constitution.

A nine-strong Jamaat delegation included its assistant secretary Mohammed Kamaruzzaman, Abdul Kader Mollah and ATM Azharul Islam.

The party had been notified thrice by the EC to amend sections of its constitution that contradicted the country’s constitution and electoral laws.

Mojaheed said, “A sentence of the constitution was supposed to be amended at the time of registration. But it appeared in the party’s permanent constitution due to a printing mistake.”

“The amendment will be made again,” he said

Regarding women leadership, Mojaheed said it was at the footnote of the constitution but the EC demanded that the provision be included into the main body of the constitution.

The amendment will be made at a meeting of Jamaat’s top decision-making body, the Majlish-e-Shura, scheduled in the first week of the next month, he said.

“Written explanation has been submitted to the Election Commission on some clauses including establishment of an Islam-based society based on justice and provisions for non-Muslims.”

He said, “Bangladesh Communist Party’s constitution speaks of establishing communism which is contrary to the state’s constitution. But the Election Commission did not object to that.”

“We do not think Election Commission’s objection to establishment of an Islamic society based on justice is rational,” he said.

“Both BNP and Awami League have a tradition for nominating candidates. Jamaat-e-Islami also nominates its candidates based on the decision of party’s Majlish-e-Shura.”

“The Election Commission has said that it will inform us about its decision later.”

Regarding Jamaat’s constitution, CEC Shamsul Huda said Jamaat aspired to establish a religion-based society.

But according to law, a party’s constitution cannot discriminate against citizens on the basis of religion, gender, colour, creed, race or sect, he said indicating that a religion-based party was bound to discriminate.

“We asked for an explanation since the law and Jamaat’s constitution contradicted each other in spirit.”

“This is the first time that Jamaat has spoken of non-Muslim membership in its constitution,” he said, adding that a letter was sent to Jamaat asking it to amend six issues.

“They have agreed on two amendments and gave explanations regarding the other four issues in writing.”

The election chief said his office would seek further amendments if Jamaat’s response is found unsatisfactory.