Prothom Alo, Star pursued Minus-Two formula: Salman

bdnews24.com, Dhaka

Salman F Rahman has alleged that top-selling dailies Prothom Alo and The Daily Star helped the military-installed caretaker government in its attempt to implement the "Minus-Two formula' in the two years of emergency rule beginning in 2007.
The Beximco Group boss told a questioner at a news conference on Monday that these two newspapers were now trying to execute 'Minus-One formula' in clear a hint at prime minister Sheikh Hasina
The "Minus-Two formula" sought the expulsion and exile of Hasina and former prime minister Khaleda Zia from the country.
The vice chairman of Bangladesh's biggest business conglomerate, Beximco Group, read out a written statement at Hotel Sheraton and alleged that these two newspapers had been running a sustained campaign to destabilise the buoyant capital market and discouraging foreign investment.
They 'unleashed a vicious propaganda for many years' against the group, added Salman, who, along with Khaleda, Hasina and a host of businessmen and other top politicians, were detained in prison on corruption charges.
"For the past few years, we have seen efforts - very conscious and often beyond anyone's comprehension - from these two newspapers to stifle our attempts to grow, create more jobs and expand our exports.
"...Which we kept ignoring and we are now compelled to bring the issue before the court of public."
He said his group generates thousands of highly-paid jobs in Bangladesh, and its goods and services are sold in many countries in the world, bringing in much-needed foreign exchange.
"It is true we have gone through ups and downs as our country has in all these decades. Nevertheless, we have tried to protect the interests of our workforce as well as our shareholders." He said the dailies on July 10 reported 'incorrectly' that Bextex, a Beximco concern, had declared 10 percent stock dividend for 2008 out of revaluated reserves pursuant to revaluation of its lands, buildings and other assets. They also called Bextex shares as 'Junk Shares'.
"It is well known to all that Bextex has world class manufacturing facilities, 'blue chip' customer base, established brand both in the domestic and international market.
"In 2008 as per published figures, Bextex Sales was Tk 476 crore, Gross Profit was Tk 167 crore, Operating Profit was Tk 14 crore and after charging interest and depreciation loss was Tk 61 crores.