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Dhaka, May 13: Despite the increase in remittances and export earnings for several months, the country's economy has come under some pressure to meet the cost of importing goods. The situation has reached such a stage that in just a few days, the value of money has to be devalued against the dollar. Besides, Bangladesh Bank has to take several more steps to overcome this pressure. Bangladesh Bank instructed the banks to provide necessary dollars as well as discourage the import of luxury goods. In this context, the import pressure has already come down.
Own Correspondent, Dhaka, May 13: Planning Minister MA Mannan said the Asian Development Bank (ADB) will lend as much as the country wants for the railway sector.
Bangladesh has gained independence from Pakistan after 9 months of bloody great liberation war. This time Bangladesh also left Pakistan far behind in terms of currency. The value of the currency has more than doubled over the Pakistani rupee.
Own Correspondent, Dhaka, May 12: The High Commissioner of Canada to Bangladesh, Dr. Lilly Nicholls, during a meeting with Commerce Minister Tipu Munshi, proposed to import edible canola oil from that country.
Own Correspondent, Dhaka, May 12: China's ambassador to Dhaka Li Jiming said there is no Chinese debt trap in Bangladesh.
Dhaka, May 11: Deficit in foreign trade is increasing due to the pressure of import expenditure. The dollar is also out of control. In such a situation, the central bank has added new conditions to reduce the import of luxury goods. From now on, banks have been directed to maintain a minimum of 75 per cent cash margin rate on LCs against imports of car and home appliance products. In the case of other LCs, the margin rate has been fixed at 50 per cent.
Own Correspondent, Dhaka, May 11: Prime Minister Sheikh Hasina has called upon US businessmen to invest in an investment-friendly environment in Bangladesh, assuring them of the best possible policy framework.
Own Correspondent, Dhaka, May 11: At the end of the 2021-22 fiscal year, the per capita income has increased to 2,824 US dollars, which is 2 lakh 41 thousand 470 rupees in Bangladeshi currency.
Own Correspondent, Dhaka, May 10: Prime Minister Sheikh Hasina has sought the cooperation of Asian Development Bank (ADB) in the implementation of Delta Plan-2100.
Own Correspondent, Dhaka, May 10: Export earnings increased 51.18 percent in April on the back of high growth in garment exports. During this time, goods worth USD 473.46 crore had been exported.
Own Correspondent, Dhaka, May 10: A 25-member delegation of US-Bangladesh Business Council from the United States is visiting Bangladesh to explore trade and investment opportunities in the country.
Own Correspondent, Dhaka, May 9: In the first nine months of the current (2021-22) fiscal year (July-March), the overall trade deficit has stood at about 25 billion or 2,490.7 crore dollars. The amount in Bangladeshi currency (calculating 1 USD = Tk 86.50) is about Tk 2 lakh 15 thousand 321 crore.
Own Correspondent, Dhaka, May 9: The USD 200 million loan given to Sri Lanka, which has been hit by a severe economic crisis, is unlikely to be repaid on time. In this situation, Bangladesh Bank has extended the loan repayment period by one more year.
Dhaka, May 8, 2022: The Trading Corporation of Bangladesh (TCB) will continue to sell soybean oil at Rs 110 per liter as well as sell oil to one crore cardholder families from next month (June) as part of the expansion.
Dhaka, May 7: Bicycles made in Bangladesh are now appreciated all over the world. Bicycles costing from Tk 5,000 to Tk 200,000 are also being made in the country. The Meghna Group bought the government bicycle manufacturing company in Tejgaon in the capital in 1996. After three years, the company started exporting this industrial product in 1999.