Sohel Parvez

India’s imposition of 20 percent duty on rice export is unlikely to affect prices of the staple in Bangladesh, according to local traders.

Former adviser to caretaker government Akbar Ali Khan breathed his last yesterday, leaving behind the gift of his wisdom on issues ranging from economics to literature.

Bangladesh’s entrepreneurs have made a lot of advancements in building their capacity to make lighting products and accessories for residential and industrial use.

Toyota Bangladesh has recalled some models of cars for replacing the inflator for the passenger airbags free of charge, according to a notice issued yesterday.

Irrigation by surface water is steadily expanding in different parts of the country while the use of groundwater is declining thanks to the government’s move to re-excavate canals and build rubber dams.

The rice production growth in Bangladesh is slowing as the room for a further expansion of modern high-yielding varieties (HYVs) has squeezed amid reducing cropped area and growing use of agricultural land for non-farm purposes. 

Businesses are making a higher profit from selling sugar and lentil in packages, breaching the rules of essential commodity distribution and affecting consumers, said a Bangladesh Trade and Tariff Commission (BTTC) report. 

Indian Oil Corporation Ltd (IOCL) will be required to pay various charges and give bonds to transit petroleum from Meghalaya to Tripura through Bangladesh, according to a notification from the National Board of Revenue (NBR) at the end of last week.

The food ministry has again granted more time to business to open letters of credit (LCs) for importing rice as shipments continue to be very low while prices of the grain are rising due to the recent spike in fuel costs, according to a notice on Wednesday.

A move by the National Board of Revenue asking for sharing the user identification and password of companies’ accounting software has created concerns among businesses, which said such a measure would give negative signals about the business climate in Bangladesh and discourage investors. 

Cargo movement through waterways between Bangladesh and India rose to a new height in fiscal year 2021-22 as local entrepreneurs, particularly cement makers, found the river routes convenient to bring their raw materials, mainly fly ash, from the neighbouring country. 

The National Board of Revenue (NBR) is unlikely to make any major breakthrough in tax collection without automation and reforms in the revenue administration, said its former chairman Nasiruddin Ahmed. 

Industrial production has slowed in Bangladesh, official figures showed although surging imports paint a different picture. 

The customs authority has withdrawn import duties on 43 types of Bhutanese goods to give them better market access to Bangladesh, according to a notification issued by the National Board of Revenue (NBR) recently.

The government move to increase the price of diesel by a high margin has caught many farmers off guard. 

The US dollar is currently one of the most talked about issues.  

Bangladesh closed its financial year 2021-22 with an $18.7 billion current account deficit, the highest on record, as export earnings failed to narrow the gap with skyrocketing imports, Bangladesh Bank data released yesterday showed.

The food ministry has extended the deadline for private firms to open letters of credit (LCs) for importing rice until August 21 this year.

Bangladesh may bag lower rice output this season, which begins with Boro paddy in winter, as heavy rainfall and flash floods in June have damaged the Aush crops to be harvested next month, according to a recent forecast by the US Department of Agriculture (USDA).

A little-known firm named SB Exim allegedly swindled Tk 200 crore from Bangladesh Commerce Bank Ltd (BCBL) using forged documents in the name of exporting terracotta tiles in 2018.