Jagaran Chakma

The demand for steel in Bangladesh has almost halved over the past two months as most construction works have been halted following the recent political changeover, according to industry people.

Automobile sales have dropped substantially since July this year amidst the economic downturn and political turmoil, denting any hopes of recovering from last year’s slump, according to market insiders.

The fate of six state-owned sugar mills remains uncertain as there has been no upgrading progress since those were closed three and a half years ago, contributing to soaring prices of the sweetener in the local market.   

Meghna Automobiles, the automotive arm of Meghna Group, began selling three locally assembled sport utility vehicles (SUVs) of South Korean automobile manufacturer KIA recently.

Sales of cement nearly halved in the last couple of months as real estate developers shelved construction plans while public projects came screeching to a halt in the face of nationwide unrest and the sudden political changeover.

Tyre makers in Bangladesh are ramping up production in a bid to expand their market share by catering to a potential supply shortage that may arise from the recent destruction of the Gazi Tyres factory in Rupganj upazila of Narayanganj.

Global hikes in tyre and tube-making raw materials rates and a factory rampage at local key manufacturer Gazi Tyres have caused a shortage and price hikes for the auto item used in lightweight two- and three-wheelers like motorbikes and auto-rickshaws.

Standing outside the charred ruins of the Gazi Tyres factory in Rupsi, Rupganj on September 9, Billal Hossain was staring at a bleak future.

The Bangladesh Economic Zones Authority (Beza) is likely to seek suggestions from top government officials over deciding the fate of two Indian special economic zones (SEZs), which have not seen any visible development over the past two years or so. 

Luxury hotels in Dhaka are yet to resume normal business activities as foreign and local clients do not feel confident in travelling to the country given that the overall situation is still unstable.

Workers from different sectors continued their demonstrations in Ashulia, Savar, Dhamrai, and Gazipur yesterday demanding equal rights in jobs, increase in salaries, and regularisation of contractual workers.

Amid workers’ demonstrations for better pay, regularisation, and two-day weekend, production at some 10 garment and 20 pharmaceutical factories stopped on the outskirts of the capital on Saturday and yesterday.

The Bangladesh Economic Zones Authority (Beza) has sought approval from the interim government to terminate an agreement for establishing SBG Economic Zone Ltd inside the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai of Chattogram.

Workers in as many as 20 pharmaceutical factories have been protesting for nine days to press home their 21-point demand, in a development that has compelled many factories to halt production.

Flash floods across parts of the country, the lingering effects of recent nationwide political upheaval, and persistent inflationary pressure have prevented business activities from getting back on track, according to businesspeople.

Bangladesh’s imports of capital machinery, industrial raw materials, and intermediate goods fell for a second consecutive fiscal year, reflecting the depressed state of private investment and bleak prospects for new jobs.

A memorandum of understanding (MoU) signed between the Bangladesh Sugar and Food Industries Corporation (BSFIC) and S Alam & Co, aimed at modernising ailing state-run sugar mills, has been cancelled by the government. 

Transport activities, including movement of imported goods and those meant for exports, have been halted since Thursday as the Dhaka-Chattogram highway, the lifeline of the country’s economy, has been submerged by flash floods brought on by heavy rainfall and the rush of water from upstream.

The interim government’s first task should be to address the disparity in government facilities between readymade garment (RMG) and non-RMG sectors to facilitate export diversification, according to one of the leading exporters of leather shoes.

Although the need to diversify Bangladesh’s export basket has been a subject of great discussion for more than two decades, there has been little progress in this regard.