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After perfecting the community-based composting model, Waste Concern turned its attention to the many tons of organic waste generated by Dhaka’s business sector, notably its many produce markets. WC took advantage of the Kyoto Protocol’s Clean Development Mechanism (CDM) to create the world’s first carbon-trading scheme based on compost. Last November it launched this new project at its Bulta plant, which lies next to farmland and brick factories a couple of hours northeast of Dhaka. Initially, this new project collected only 10 tons of organic waste daily from the Karwan Bazar market, but it should reach 100 tons later this month, says deputy plant manager Syed “Jubilee” Ahmed. After the waste is trucked in, it is spread out in open-air bins, monitored carefully, and becomes saleable compost in a little over a month. Two other CDM composting plants are planned to open this year to handle a combined 700 tons of organic waste per day, says Sinha. That works out to 233 tons of finished, dry compost every day with a retail value of nearly $14,000. Composting works well in a nation like Bangladesh because of the tropical climate and high percentage of organic waste in the trash stream. Organic waste buried in a landfill can generate greenhouse gases, according to the US Environmental Protection Agency. But when the organic waste is composted in the open air, these gases are not made. The fact of this negative generation amounts to carbon credits, which can be traded on overseas markets for $20 per ton. “From one ton of organic waste,” says Sinha. “You can reduce half a ton of greenhouse gas.” When it reaches full capacity, this CDM project will reduce CO2 emissions by 127,750 tons per year. The carbon credits will be worth $2.5 million. “Waste Concern is doing a commendable job,” says Quamrul Islam Chowdhury, chairman of Forum of Environmental Journalists of Bangladesh. “It is really important to translate those wastes into resources because that will help the country achieve sustainable development in the years ahead.”

The top three operators -- Grameenphone, Banglalink and AKTEL -- have withdrawn their Tk 0.25 special tariff. The three operators control more than 90 percent of the market, or 40.14 million customers. The total market size is 45.21 million customers.The mobile operators had previously charged Tk 0.25. Now they are charging a minimum of Tk 0.40 to Tk 0.49 per minute. Grameenphone and Banglalink have recently increased their 'start-up' prices to Tk 900, which ranged from Tk 450 to Tk 500 a month ago. "Bangladesh has the lowest call rates in the world, which means that return on investment takes a very long time. This is why most mobile operators today are still not profitable," Ahmed Abou Doma, chief executive officer and managing director of Banglalink, said yesterday.

Egypt-based Orascom Telecom's subsidiary Banglalink entered the market in 2005. Even after having the market's second largest customer base, the company is yet to enjoy profits mainly because they had to bear the huge subsidised connection costs.

Till December 2007, Aktel was churning profits. But after paying a big fine for conducting illegal VoIP (voice over internet protocol) operations, like other companies, Aktel started to incur losses from early 2008. However, among the top three players, only Grameenphone is now enjoying profits. But it has also revised its tariff plan to continue the trend.

Zahid said the economy of the country was stable and the projected economic growth for the fiscal year 09 would be 5.5 per cent. He, however, said in the worst case of declining of export and remittance it could be as low as 4.5 per cent in the fiscal year 09.The senior economist of the bank said that the inflation rate of 6.1 per cent in January of this year was quite satisfactory due to the falling prices of commodities in the international market.

Recession in the developed markets and slowdown in the Middle East has already begun to pose threat to Bangladeshi exports and remittance inflows, he added. Citing a 30 percent decline in capital machinery import, Zahid said there might have been a significant slowdown in investments. On the impacts of the global crisis he said, export, remittance, revenue and banking sector along with the employment would be affected severely. "At least 2 to 2.5 million new local jobs will be needed until the global economy recovers, compared to 1.1 million job creation prior to the crisis," he mentioned."Demands for bailout packages from businesses might not help the poor and the agriculture, livestock and fisheries sectors are doing well", said the senior economist of the international donor agency.Xian Zhu said the impact on Bangladesh's growth may not be severe during the current fiscal year and the government should prepare the best for the worst.He said that government need to take precautionary measures to mitigate the impacts of the crisis especially for the poor by creating more jobs internally and safety net programmes should be given highest priority."The government needs to carry out the unfinished reform agenda to turn Bangladesh a middle income country," he added.

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"At least 2 million to 2.5 million new local jobs will be needed until the global economy recovers fully, compared with 1 million to 1.1 million local job creation needed prior to the global economic crisis," the WB said in a report "Bangladesh: State of the Economy and Policy Response to the Global Economic Crisis" launched yesterday.

Due to the global meltdown, the jute sector job loss is projected to reach 50,000 by the end of fiscal 2009, the report said. Twelve spinning mills out of 341 have been shut in the textiles sector.

"The labour force is increasing by two million people a year. If manpower exports revert to the pre-boom era in the Middle East (up to 300,000 a year), the domestic economy will have to create jobs for another 500,000 people a year," the WB said.

"The markets are awash with cheaper Indian powder (milk) that has forced prices of liquid milk and also encouraged local buyers including milk factories to buy from them," said one farmer in Sirajganj district. Farmers say prices have fallen below productions costs to 35 taka ($0.51) per litre and buyers want it even lower. There are more than 80,000 dairy farmers in Bangladesh. The dairy farmers have asked the government to raise taxes on imported milk powders, which they cut last year to 35 percent from 75 percent.