Sukanta Halder

Lured by high prices during the potato planting season in November last year, farmers expanded cultivation of the tuber at an unprecedented rate this season. 

The Bangladesh Trade and Tariff Commission (BTTC) met with refiners yesterday and concluded that the country does not have any shortage of edible oil at present.

Kitchen markets, including those in the capital Dhaka, are facing a shortage of both branded bottled and non-branded loose soybean oil, prompting prices to spike and causing frustration among consumers already struggling with stubbornly high inflation.

Initially, the policy will cover dogs and cats

Only 8,000 gold ornament shops out of a total of 40,000 stores are under the VAT net currently

The Insurance Development and Regulatory Authority (Idra) has declared fines amounting to Tk 37 lakh on six insurance companies for breaching rules..Through these penalties, the watchdog of Bangladesh’s insurance industry aims to encourage better regulatory compliance and transparency amon

After a record high output in 2023, the country’s tea production declined last year because of unfavourable weather conditions and tea estates opting for quality improvement to secure better rates.

The government is formulating a policy with the aim of distributing smart cards among farmers to ensure the delivery of subsidies and other government support, such as that for coping with natural disasters.

The interim government may lift the ban on exports of fragrant rice to increase revenue and address the long-standing demand of the country’s business community to boost trade and enhance export earnings.

The production of aromatic rice has nearly doubled in Bangladesh over the past seven years, with farmers showing interest in growing the grain in order to profit from its higher prices compared to traditional parboiled rice.

10.23 lakh tonnes of aromatic rice was produced in FY24, up from 5.79 lakh tonnes in FY18

How have local private sector businesses fared in recent years?

The National Board of Revenue (NBR) plans to install nearly 20,000 electronic fiscal devices (EFDs) in jewellery shops across the country to boost revenue collection from the sector.

The interim government is set to import seven lakh tonnes of rice, the highest in the last seven fiscal years, as it looks to shore up its depleting food grain stock and ease the cost of living crisis for the low- and fixed-income people battered by the prolonged high inflation.

Recent supplementary duty (SD) hikes on the import of fruits have dealt a fresh blow to people who were already cutting back on these delicacies since the imposition of regulatory duties in mid-2022..On January 9, the National Board of Revenue (NBR) increased the supplementary duty on the

Imports of most essential commodities related to Ramadan increased in the first six months of the current fiscal year 2024-25, with the Bangladesh Trade and Tariff Commission (BTTC) stating that the prices of these items, whose demand rises during the fasting month, would remain stable.

Economists and businesses criticised the timing of the NBR’s decision, as people have been struggling with above-9-percent inflation for nearly two years.

The National Board of Revenue went ahead with its plan to hike value-added tax and supplementary duty on goods and services despite widespread concerns that the move will stoke inflation and slow down economic activities.

The interim government has expanded the Open Market Sales (OMS) programme across the country to help families cope with inflation, as retail prices of kitchen essentials continue to soar in the local market.

Local agro-processing giant Pran plans to invest an additional Tk 600 crore in its poultry business within the next two years, responding to the country’s growing demand for eggs and chicken.