Jagaran Chakma

Inflation spurted to 5.64 per cent in June, the highest in eight months, reflecting the disruptions faced by the supply chain and the rise in the cost of living, official figures showed yesterday.

Bangladesh is advancing towards taking up the trade of refining gold in a bid to cater to the nearly $230 billion worth global gold jewellery market, meet domestic requirement and curb smuggling.

Hardly any improvement in workplace safety has taken place at the non-garment factories over the years as the authorities were primarily bogged down in fixing the loopholes in the apparel industry.

Bicycle exports have hit a new high, buoyed by increasing demand for the green mode for transportation aiding social distancing in the face of a surging number of coronavirus infections.

Pharmaceutical shipments from Bangladesh grew 25 per cent year-on-year to $169 million in the last fiscal thanks to the addition of anti-coronavirus drugs to the export basket, continuous improvement of quality and policy support.

The demand for premium quality tiles has grown by around 10 per cent annually for the past decade thanks to a section of affluent customers who look for the finest products to decorate their homes and offices.

The price of mild steel (MS) rods has increased by Tk 1,500 per tonne in Bangladesh in the past month because of the rising cost of raw materials globally, making building houses and implementing infrastructure projects costlier.

Sales for home appliances could dry up in the run-up to Eid-ul-Azha as non-essential retail outlets will remain closed during the strict countrywide lockdown beginning tomorrow.

The market of motorcycles witnessed a slow pace in 2020 due to the impact of Covid-19, but it has seen an auspicious start in 2021.

The government has withdrawn its plans to phase out reconditioned car imports over the next five years considering the growing demand for private transport, according to the draft Automobile Industry Development Policy 2021.

Buoyed by the government policy aimed at developing the motorcycle industry, local companies are gradually making a foray into the component manufacturing segment with a view to cutting the country’s reliance on imports.

Butterfly Group has made its name in Bangladesh with its consumer electronics available on hire purchase, transforming in 34 years from just three outlets to employing around 2,000 employees and having an annual turnover of Tk 850 crore.

The cut in source tax in the proposed budget may not bring down the price of steel, meaning the cost of infrastructure and construction projects is unlikely to decline, manufacturers say.

The 20-year tax-exemption support announced in the proposed budget will definitely take Bangladesh’s growing automobile industry to an impressive stage and promote local manufacturing, according to industry insiders.

Although the government said that it would reduce the taxes levied on the import of raw materials used to make cement, this initiative will not have a satisfactory impact as prices would remain the same at the consumer level, according to market players.

Marico Bangladesh is set to invest Tk 227 crore to establish a new manufacturing unit at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram as a part of its efforts to catch a greater share of the growing market for fast-moving consumer goods.

The government is cautious about addressing the challenges the country would face after its transition to a developing country in 2026.

Bangladesh’s largest industrial enclave, the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram, is scheduled to witness the inauguration of its very first factory on June 10, likely through a virtual platform, by Prime Minister Sheikh Hasina.

The sales of air conditioners have tripled year-on-year in April and May as people rushed to retailers to get rid of the scorching summer.

The Bangladesh Export Processing Zones Authority (Bepza) is establishing an economic zone at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) to diversify exports.