Jagaran Chakma

The Asian Development Bank (ADB) has showed its intention to mobilise $3.5 billion along with a co-financier for the implementation of the southern route of the Dhaka Mass Rapid Development Project’s MRT Line-5, officials said.

The government’s decision to increase the power tariff twice last month has created undue pressure on small industries that are unable to keep up with rapidly rising production costs, according to various businesspeople.

Runner Automobiles is all set to launch the country’s maiden “Made in Bangladesh” three-wheeled auto-rickshaw on February 11. 

Production costs in the ceramics industry of Bangladesh will rise by up to 15 per cent due to a recent hike in the price of gas, which adds to the list of crises threatening the sector’s overall growth, according to manufacturers.

Like other sectors, the paint industry in Bangladesh is in troubled waters as the US dollar crunch has made it difficult for manufacturers to import raw materials in line with their demand. 

Developers of a number of private economic zones are finding it hard to implement plans for a lack of gas connections.

Operators of private economic zones in Bangladesh should review their infrastructure and logistic masterplans to ensure the maximum utilisation of the existing facilities, according to M Masrur Reaz, chairman of the Policy Exchange of Bangladesh.

The pharmaceuticals industry, which has made life-saving drugs available at lower costs, is facing troubles in opening letters of credit (LCs) to import much-needed raw materials and capital machinery owing to the US dollar crunch. 

Medical treatments are about to get costlier as production cost for manufacturing  drugs will go up by at least 25 per cent following a recent hike in gas and power charges, according to manufacturers.

The latest hike of gas prices undoubtedly spells trouble for industries as they will try to shift the burden onto consumers by raising product prices, which will boomerang onto them by eating away at their competitiveness in international markets. 

Pran-RFL Group is going to invest in four new sectors -- $10 million in automobile parts, $3 million in stainless steel and aluminium pipe, $2.5 million in electric bike and $7 million in tableware. 

Bangladesh is set to soon witness local assembling of cars of a third international brand. 

The devices were only thought to be used by higher-income groups in Bangladesh, but as people’s disposable income rises, lifestyle changes and the power supply improves consumers from the middle-income groups are turning to geysers to use warm water for a comfortable bath.

The shipment of plastic products rose 41 per cent year-on-year to $100.17 million in the first six months of the current financial year as orders surged following the post-pandemic recovery and manufacturers made a foray into new export destinations, official figures showed.

The Mongla Port Authority’s plan to undertake a massive development work to expand, modernise and build the capacity of the port has received a major boost as uncertainty over funding is set to disappear. 

Motorcycle sales in Bangladesh did not show any growth but rather shrunk in 2022 as the ongoing economic crises, such as rising inflationary pressure, contributed to an overall decrease in local demand, according to industry insiders.

Doing business in Bangladesh may not be all smooth sailing this year as the global economy will continue struggling with sanctions centring the Russia-Ukraine war and ripple effects of Covid-19, according to businesspeople.

Around a dozen local companies supplied materials such as rods, steel products and cement for the construction of the country’s first metro rail, signifying that products made in the country are achieving international standards.  

Bangladesh welcomed 2022 on a strong footing and was about to recover from the coronavirus pandemic in full swing and fire on all cylinders. In fact, economic activities were almost back to the pre-Covid level.  

Exports and domestic sales of Bangladesh’s synthetic and athletic footwear sector have been witnessing some of the highest growths among those of other sectors, according to a market assessment of Bangladesh Investment Development Authority (Bida).