Subsidised rice for 1.5cr poor
The government today starts selling rice at subsidised prices in an effort to give respite to the poor and low-income earners and bring stability to the volatile rice market.
1 September 2022, 02:00 AM
Foreign aid sees higher utilisation
The use of foreign aid for development projects in Bangladesh jumped 49 per cent year-on-year in July, providing some relief to the government amid the ongoing pressure on the country’s foreign exchange reserves.
31 August 2022, 03:15 AM
All-out effort to tame rice prices
The government yesterday slashed the import duty on rice and is also working to import about 12 lakh tonnes of food grain including rice as it looks to rein in the price of the staple amid a cost of living crisis.
29 August 2022, 02:00 AM
Foreign trips for bureaucrats: The purpose defeated
Good intentions gone wrong -- sums up best the government initiative to send officials abroad for training and upskilling.
28 August 2022, 02:00 AM
Austerity hits July’s ADP spending
The government’s austerity measures have hit implementation of the annual development programme (ADP) in the first month of the current fiscal year, with just 0.96 per cent of the total allocation being spent, the lowest in the last four years.
25 August 2022, 03:00 AM
WB to give $6.05b over next 3 years
The World Bank Group is scaling up its lending to Bangladesh in non-concessional terms by as much as three times to prepare the country for its impending LDC graduation, which would close the doors to low-cost funds.
21 August 2022, 02:30 AM
Bangladesh not in crisis: IMF
Talks for the support package from the International Monetary Fund are likely to begin after the third week of October, said the Washington-based multilateral lender yesterday.
16 August 2022, 18:00 PM
3 more projects may get costlier
Four years ago, the government approved a project to construct a container port on the Meghna river in Brahmanbaria’s Ashuganj at an estimated cost of Tk 1,293 crore.
13 August 2022, 03:00 AM
External debt situation more comfortable now
Bangladesh gravitated towards external borrowing to finance its budget deficit in fiscal 2021-22, leveraging the country’s capacity to absorb more of the relatively economical foreign loans.
12 August 2022, 02:00 AM
Forex pressure may ease by Dec but inflation to stay
The record fuel price hike last week has thrown a spanner in the works to the finance division’s projection of bringing the twin problems of inflation and delicate foreign currency reserves under control by December.
11 August 2022, 02:00 AM
Amnesty to black money falls flat
The tax authority’s receipts from black money dropped 94.4 percent year-on-year in fiscal 2021-22 after the increase in tax rate and additional penalty dulled the black money holders’ interest to legalise their undisclosed wealth.
7 August 2022, 18:00 PM
"Should’ve been done in phases", say experts on fuel price hike
The record fuel price hike yesterday would put Bangladesh in a favourable position as the country enters into negotiations next month with the International Monetary Fund for financial assistance to ease the pressure on the precarious balance of payment and foreign currency reserves.
7 August 2022, 02:30 AM
Medical kit purchase: Tk 117cr lost to anomalies
When a piece of Personal Protective Equipment (medical coveralls) was Tk 1,200, the authorities bought 50,000 of them for Tk 3,900 each from a motor parts supplier.
5 August 2022, 02:30 AM
IMF stands ready to help Bangladesh
The International Monetary Fund yesterday conveyed its interest to support Bangladesh with its request for loan to prop up its strained foreign currency reserves.
4 August 2022, 02:30 AM
July’s economic data: Dark clouds starting to clear
Inflation bucked its runaway trend in July, becoming the third data point this month after remittance and import to provide some relief to a government on its toes about the direction the economy was taking.
4 August 2022, 02:00 AM
Trade with neighbours to soar come 2029
Bangladesh’s regional trade can increase by a staggering 93 percent thanks to the $1.4 billion project the World Bank has set in motion to accelerate trade and transport connectivity in Eastern South Asia -- a development that can cushion the country from the anticipated export losses from LDC graduation.
3 August 2022, 02:30 AM
Revenue collection crosses Tk 3 lakh crore for first time
Revenue collection grew 15.51 per cent year-on-year to Tk 300,179 crore in the just-concluded fiscal year of 2021-22, according to the provisional data of the National Board of Revenue (NBR).
2 August 2022, 02:15 AM
Tk 236cr project to roll out 5G by next year
The government is finally moving ahead with a project to roll out fifth-generation (5G) mobile internet services through state-run network provider Teletalk, according to officials of the planning ministry.
1 August 2022, 03:00 AM
Govt turning to all partners for budget support
The government is expecting $2.5-3 billion by June next year from multilateral lenders other than the International Monetary Fund to help the Bangladesh economy weather the storm caused by the Ukraine war.
29 July 2022, 02:30 AM
Record $10b foreign aid used last fiscal year
Bangladesh’s use of foreign assistance reached a new record high of $10 billion in fiscal year 2021-22, primarily behind vaccinations, one-time budget support, economic recovery from the pandemic and implementation of mega projects.
28 July 2022, 02:30 AM