Mohammad Suman

The government collects as much as 25 percent in tariff and other taxes on diesel imports, prompting analysts to call for waiving off the import taxes rather than raising prices and transfer the burden to consumers already battered by inflation.

The single point mooring (SPM) system, a giant pipeline built to unload oil from big ships in the Bay of Bengal and pipe it to onshore storage facilities, has been sitting idle for more than two years because no operator has been appointed.

The National Board of Revenue (NBR) is set to procure a three-year subscription to S&P Global Platts, a global provider of commodity price assessments and market data, to help customs officials verify the declared prices of imported goods.

The Bangladesh Petroleum Corporation (BPC) may run out of funds to open letters of credit (LCs) for fuel imports sometime in October unless the government provides fresh financing, as soaring global oil prices have put the state-run agency under severe financial pressure.

A crude oil tanker of Bangladesh Shipping Corporation (BSC), MT Ninemia, arrived at Chattogram port from Saudi Arabia on Saturday.

Allowing private companies to directly import and market refined petroleum products could lead to revenue losses, artificial shortages, hoarding, price volatility, substandard fuel and risks to national energy security, said a BPC committee.

Sugar prices are rising as the ongoing gas crisis is curbing production at local refineries, which had stepped up output after three major suppliers exited the market.

At least 29 consignments logged as exports, while officials allege raw materials were sold locally and incentives claimed