Sohel Parvez

The commerce ministry has requested the revenue authority to cut the value-added tax on edible oil and slash tariff on raw sugar imports to keep their prices stable during upcoming Ramadan when demand soars.

The imposition of value-added tax (VAT) and advance tax (AT) in the value chain of edible oil are contributing to the spike in prices of the essential cooking ingredient, said a Bangladesh Tariff Commission report.

Revenue collection deficit from target widened further in November despite the pace of overall collection growth last month compared with October, according to provisional data of the National Board of Revenue (NBR).

The government move to make the use of blocks mandatory in public construction will boost manufacturing of environment-friendly construction materials and encourage private businesses to invest in the sector, said the chief of a top realtor.

Solar energy installation has lost momentum in the last two years as the appetite for the cleaner electricity fell in the face of fast-expanding electricity connections in off-grid areas by public agencies.

With great excitement Mohammad Sher Ali and fellow farmers in Panisara of southwestern upazila Jhikargacha began plucking rose, gladiolus, tuberose and gerbera in abundance from earlier this week.

Optimism to turn the tide in his favour had preoccupied the mind of Bimal Krishna Biswas as 2018 drew to a close.

Major industrial sectors are suffering from a sluggishness as factory production slowed down to a great extent in the July-August period of 2019-20 thanks to a fall in shipments.

Last fiscal year, Bangladesh’s GDP grew at a record 8.15 percent, so it is natural to assume the real income of all would see some degree of increase with such a high level of economic expansion. And yet, fishermen and construction workers saw their real wages fall.

A bolt from the blue came in 2005 and left Sufia Begum in despair: she lost her husband, the sole breadwinner in her family, in an instant to electrocution, leaving her with no money and three young daughters to raise by herself.

The government has withdrawn restriction on the introduction of new varieties of potato seeds, their production and marketing for three years.

The National Board of Revenue (NBR) has extended the reduced tax benefit to the manufacturers of motorcycle, air conditioner and compressors to June 2032 although it doubled the rates.

Coal imports are soaring to fuel hundreds of brick kilns that produce the key construction material to feed the growing demand from both public and private sectors.

The National Board of Revenue considers easing rules and procedures for investors in the export processing zones to promote trade and investment, said officials.

Revenue shortfall widened further as sluggish tax collection persisted in the July-October period, stoking concerns of a credit crunch amid a surge in government borrowing from the financial sector and an economic slowdown.

Bangladesh has huge growth potential in dairy and the demand for dairy products is likely to grow double-digit, buoyed by rising income and expanding middle class, said a senior executive of an international dairy company owned by farmers.

Inaccurate estimates of demand and production of onions as well as the failure of the government agencies to understand the gravity of the problem have pushed the price of the key cooking ingredient up to a record high and hurt consumers, said rights activists and analysts yesterday.

Amid the soaring cost of agricultural labour, the government is going to launch a project worth Tk 415 crore to give subsidy to the farmers for buying agricultural machinery so that they can harvest crops at a reduced cost.

Anyone following news reports is aware that various authorities and agencies here are checking food items in markets and destroying those found to be adulterated, substandard or unsafe.

If you visit a food court in Copenhagen, you will notice smiley icons at the entrance of restaurants. You see a paper with a smiley symbol posted on the door on the right top corner. Below the symbol is written the word “Elite”.