Govt running against time

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The government is running against time in completing the initiative for what it calls reforming or streamlining the Grameen Bank, officials said.
The government is also facing problems in making any headway in the tasks it had taken at hand after the resignation tendered by its hand picked GB chairman Mozammel Haque last week.
The delay in presenting the final recommendations by a government appointed commission for the planned GB reforms is proving another hurdle, they said.
With less then six months at hand, it could be impossible for the Awami League-led government to complete the reforms, officials think.
On assuming office in January 2009, the AL-led government took a series of actions to oust Muhammad Yunus from the GB, he had founded.
The government actions also sought to discredit and even humiliate Yunus.
The government initiated a probe into alleged money laundering by GB.
The government appointed the commission to reform GB ignoring widespread criticism at home and abroad.
Yunus has been alleging that the government actions
aimed at grabbing the Nobel Peace Prize winning institution.
This week, the bank and financial institute division is expected to submit its position paper on Haque’s resignation to finance minister Abul Maal Abdul Muhith, a division official told New Age.
The division awaits directives from Muhith on the next course of actions on the issue.
The government appointed commission is unlikely to present its report to the finance ministry this week as a commission member is abroad.
The tenure of the commission ended last month. 
Meanwhile, the division is scheduled to call a meeting on Wednesday morning to review the process of replacing the Grameen Bank Company Act 1983 with a new Grameen Bank Company Law, as the government desires.
Banking division secretary Aslam Alam will chair the meeting.
The division is working to amend the GB  law following instructions from the government.
The proposed changes in the law could increase in paid up and authorized capital of GB.
The finance ministry expects to introduce a bill in Parliament seeking amendment to the GB law in October, officials said.
The banking division meeting is also likely to discuss drafting new rules for the election of nine GB directors.
No changes are proposed for three other GB directors appointed by the government.
The government wants to change the rules to empower itself to appoint an election commissioner for conducting a two-tier polls for electing nine GB directors by shareholders. 

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