Govt plans to import 5.46m tons of petroleum in 2023

Bangladesh has planned to import 5.46 million (54.6 lakh) metric tons of petroleum for 2023. Of these bulk petroleum, some 3.860 million (38.60 lakh tons) is refined petroleum while the remaining 1.6 million (16 lakh) MT is crude petroleum. The Cabinet Committee on Economic Affairs (CCEA) in a meeting, with Finance

Cabinet body okays import of 90,000 MT fertilizer

The Cabinet Committee on Government Purchase in a virtual meeting on Wednesday approved a number of proposals including the import of 90,000 metric tons of fertiliser. Finance Minister AHM Mustafa Kamal presided over the virtual meeting. The Bangladesh Chemical Industries Corporation (BCIC) will buy entire fertilisers in three separate lots from

Talks underway for importing gas: Nasrul

The government has been working relentlessly to import natural gas from different sources, saying State Minister for Power, Energy and Mineral Resources Nasrul Hamid that talks are going on with different countries for ensuring energy security in the country. “We are holding bilateral and trilateral meetings to bring natural gas within

Bangladesh’s sugar industry will see a revival soon

Bangladesh's sugar industry will make a comeback soon and authorities are trying to increase local production and reduce imports as per instructions of the prime minister, says Zakia Sultana, secretary of the industries ministry. "We are innovating high-yielding sugarcane varieties and providing technical support to the growers. "Besides, we have also increased

Forex outflow sans imports rises 33pc

The outflow of foreign exchange, excluding imports, rose 33 percent to US$1,659 in the first 11 months of FY22 from $1246 during the same period of the previous fiscal, official sources said. The dollar outflow took place on accounts of expenses for traveling, education, medical treatment, information service and outward remittance,

Dependence on LNG import to continue: Energy Adviser

Prime Minister's Energy Adviser Tawfiq-e-Elahi Chowdhury has said the dependence on imported liquefied natural gas (LNG) will continue some more time as there is no immediate possibility of gas exploration from the country's offshore areas. "So, the government has taken initiative to set up more floating storage and re-gasification units (FSRUs)

Import duty on diesel cut by 5pc, advance taxes waived

The government has exempted the import of diesel from all advance taxes and also cut the import duty to 5 percent, from existing 10 percent. The change was notified through a gazette notification issued by the National Board of Revenue on Sunday. The order came into effect immediately and will

India urges Bangladesh to resume meat import

India has urged the Bangladesh government to resume the import of meat from the neighbouring country as the traders concerned in both the countries are being hit hard by the non-shipment of such items, officials said. The Indian embassy in Dhaka has recently sent a letter to the Ministry of Fisheries

Import bills rise 54pc in five months

Bangladesh's import payments surged by around 54 percent in the first five months of the current fiscal year compared to the corresponding period of last year – indicating a strong and steady economic recovery in keeping with a sharp fall in coronavirus infections. Import bills in July-November swelled 53.74 percent year-on-year

Country’s exports, imports pushed down by pandemic

The country’s exports and imports fell significantly in the year 2020 because of the Covid-19 pandemic that swept across the world halting economic activities for months. Exports declined by 14.57 percent in calendar year 2020 and stood at US dollars 33.61 billion, down from USD 39.34 billion a year ago, according