Sohel Parvez

The year 2022 had been a good year for Bangladesh’s two local airlines thanks to increased flow of travellers after the authorities lifted pandemic-related restrictions.

For the first time since December 2020, private sector borrowing from external sources declined as the appetite among firms eroded for increased borrowing costs.

When Abdul Haque woke up at dawn yesterday, not even the bone-chilling cold or the fog could stop him from getting out onto the field.

In 2022, Bangladesh’s consumers had to buy edible oil by paying historic high prices because of record prices in the international market and the country’s high dependence on imports to meet its demand.

Non-bank financial institutions (NBFIs) have been witnessing a persistent fall in deposits for the past one year as many clients withdrew their savings to manage expenses amid the soaring cost of living and lower returns.

The deposit growth in banks of Bangladesh has slowed as many people saw their capacity to save dwindle amid the higher cost of living.

Coal prices have shot up in the domestic market since September this year even though there is no rationale behind the hike, according to a report by the commerce ministry.

Rice imports by the private sector in Bangladesh remain low despite five months having passed since the government started allowing local businesses to import the staple grain in a bid to rein in its spiralling prices in the domestic market.

For the 10th consecutive month, monthly wage growth of workers has remained below inflation, a trend that indicates a worsening poverty situation as many people are being compelled to cut consumption amid falling real income.

With the prices of mild steel (MS) products, namely rods, remaining high in the domestic market, the Bangladesh Trade and Tariff Commission (BTTC) has said high tariff protection on imports of billet is affecting local users.

Bangladesh is suffering from severe localised food insecurity owing to economic constraints, refugee influx, floods and high prices of important food items, said Food and Agriculture Organization (FAO) in its latest report released on Friday. 

Although wheat price is falling in the international market, Bangladesh sees an opposite trend. 

The National Board of Revenue (NBR) is witnessing slowing growth in the number of new taxpayers as the rule for compulsory tax return submission discourages many, officials say.

Social Islami Bank Ltd (SIBL) is focusing on small depositors and millions of unbanked people in order to build a strong deposit base.

While the queue of people behind open market sale (OMS) trucks of the food ministry continues to remain fairly long, food grain distribution by the ministry was said to have dropped 19 per cent year-on-year in the first four months of the current fiscal year. 

The coast of Mirsharai, an upazila in the southeast division of Chattogram, wakes up in the morning to the sounds of under-construction factories, and machines of several newly-built plants on a vast part of the region.

The government is giving priority to develop economic zones on khas or state-owned fallow lands to reduce pressure on the public exchequer in acquiring land from individual owners, according to the Bangladesh Economic Zones Authority (Beza).

Bangladesh’s earnings from vegetable exports dipped to six-year low in the July-October period of the current fiscal year as high air-freight rates and increased prices eroded the competitiveness of fresh produce.

With wheat flour prices crossing Tk 60 per kilogramme (kg) by the end of last week, the Food and Agriculture Organisation (FAO) maintained its price warning level for the second most consumed grain at “high” in Bangladesh.

Bangladesh’s overall wheat consumption is likely to drop 10 per cent to 69 lakh tonnes in the marketing year of 2022-23 as high market prices and lower supply of wheat and wheat flour are reducing consumer demand, according to the US Department of Agriculture (USDA).