Sukanta Halder

Although Bangladesh’s insurance sector has suffered a confidence crisis due to widespread corruption over the past 15 years, the interim government has not taken notable reform measures for the industry.

The interim government has not pursued significant reforms in the insurance sector

In 2003, Pran, a leading food processor and conglomerate in Bangladesh, made its first foray into the United Arab Emirates (UAE) market.

Consumers say that the supply of bottled soybean oil has not improved significantly, while several players in the local supply chain have expressed mixed reactions regarding the outlook of the edible oil market ahead of Ramadan, when demand for the cooking staple nearly doubles.

Potato exports from Bangladesh are picking up after last fiscal year’s unusual slump, as a sharp drop in domestic prices provides hope that they could reach levels of the past decade or so.

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