Economy
Buildings without Fire Safety are ordered to be demolished from March
Fire service and city corporation officials are to start a drive against buildings and factories without fire safety plans from next week. The decision comes after a fire at a high-rise building in Gulshan on Sunday (19 February) killed at least 2 people and injured many.
Firefighters found that during construction, the owners obtained a no-objection certificate from the fire service, but they didn’t get an approved fire safety plan which is mandatory under the fire prevention act.
Brig Gen Md Main Uddin, director general of Fire Service and Civil Defence, told reporters that buildings that do not comply with fire safety rules will be identified. “We will check if they have fire safety plans and licences,” he said, urging city dwellers to be aware of fire safety rules.
The fire service last year inspected 5,869 establishments and buildings, including the government ones, and found 617 buildings “very risky” and 1,606 “risky”.
In Dhaka, officials inspected 1,162 buildings and marked 136 “very risky” and 499 “risky”. Besides, numerous chemical and plastic factories and storage facilities are operated illegally in old Dhaka. A fire at a chemical storage facility in old Dhaka’s Churihatta cost 71 lives in 2019.
Asked about these factories, Brig Gen Main Uddin said the fire service has stopped providing licences to them. The fire service is working with the city corporations and Rajdhani Unnayan Kartripakkha (Rajuk) to identify the buildings that are not built as per the Bangladesh National Building Code, he said.
“We have 14,000 trained firefighters. We also have advanced equipment. But these certainly will not be enough if there is a major disaster. We are continuing our training and drills to prepare for disasters.
“We have 50,000 volunteers. The target was 62,000. We have trained over one lakh garment workers. Everyone is training their family members and communities. Besides, we are providing training in schools and colleges.”
The fire service is in discussions with the ministry concerned to procure modern equipment.
A fire service delegation that went to Turkey after the recent earthquake has returned after rescuing a girl and recovering 23 bodies, he added.
During the eleventh month of the current fiscal year, the country’s foreign currency reserves have fallen below $19 billion for the first time. After paying off some import bills, the reserves have now stood at $18.26 billion on Sunday.
According to the International Monetary Fund (IMF), as of May 8, the total foreign currency reserves of the country were $19.82 billion.
Mohammad Mezbauul Haque, the spokesperson of Bangladesh Bank, informed that through the Asian Clearing Union (ACU), the central bank has paid off import bills totaling $1.63 billion over the past two months.
However, Bangladesh Bank maintains that after paying off the import bills, the foreign currency reserves now stand at $23.71 billion.
According to the Central Bank’s accounts, the reserves were $25.27 billion on May 8.
The Dhaka Stock Exchange (DSE) and the DSE Brokers Association (DBA) have expressed gratitude towards Prime Minister Sheikh Hasina for her directive to list government companies in the capital market, a move hailed as timely and positive.
The directive was issued during the recent meeting of the Executive Committee of the National Economic Council (Ecnec) last Thursday.
Dr. Hafiz Muhammad Hasan Babu, Chairman of DSE, described the directive as a significant step towards enhancing the dynamics of the capital market. He emphasized that besides invigorating the capital market, this move would also attract foreign investment and promote sustainable development.
Despite previous efforts, government institutions had not been listed in the stock exchange, according to a notification issued by the DSE. The Prime Minister’s directive is seen as a pivotal step towards revitalizing and expanding the economy.
Dr. Babu further remarked, “The listing of reputable companies in the capital market, as directed by the Prime Minister, will greatly benefit the country’s economy. It will also enhance investor confidence.”
Similarly, the DBA released a notification applauding the Prime Minister’s directive, terming it as positive and timely for the capital market.
Saiful Islam, President of DBA, expressed optimism about the directive’s potential to accelerate the country’s capital market and overall economy. He pledged support to relevant government departments and regulatory bodies in implementing the directive, ensuring its positive impact on the economy, including the capital market.
India has expressed interest in financing Bangladesh’s Teesta project, announced Foreign Minister Hasan Mahmud. Speaking to reporters after a meeting with Indian Foreign Secretary Vinay Mohan Kwatra, Mahmud stressed the importance of aligning the project with Bangladesh’s needs. He confirmed discussions on the Teesta issue during the meeting. Mahmud also affirmed Prime Minister Sheikh Hasina’s upcoming visit to New Delhi, indicating that the finalization of the date would depend on the formation of the new Indian government following ongoing elections.
Meanwhile, the IMF has approved a $1.15 billion staff-level loan for Bangladesh in its third tranche. Mahmud noted the ongoing elections in India and the subsequent formation of the new government as factors influencing the scheduling of PM Hasina’s visit.
When asked about the sequence of visits to India and China, Mahmud suggested Delhi’s geographical proximity to Bangladesh. Diplomatic sources suggest PM Hasina’s visit to India is planned for early July, following India’s elections.
Pre-election surveys indicate strong prospects for Indian Prime Minister Narendra Modi’s re-election. Modi previously congratulated PM Hasina on her electoral victory in January, expressing optimism about strengthening ties between the two nations.
The last bilateral engagement between the prime ministers occurred during the G-20 Leaders Summit in September 2023. Modi is expected to invite South Asian and BIMSTEC leaders to his swearing-in ceremony, fostering regional cooperation.
Addressing border killings, Mahmud emphasized the government’s commitment to ending such incidents and promoting the use of non-lethal weapons by border forces. Discussions also covered enhancing physical and people-to-people connectivity, including cooperation with India to import hydropower from Nepal and Bhutan through India. Mahmud highlighted the need to further ease visa restrictions to strengthen people-to-people relations.
