US consumer inflation cooled more than expected in June as energy costs fell on a temporary easing of the US-Iran war, government data showed Tuesday, but renewed hostilities could stoke price pressures.

The consumer price index (CPI) rose by 3.5 percent on a year-on-year basis in June, down from a three-year high of 4.2 percent in May, the Labor Department said.
A drop in energy costs had more than offset upticks in housing and food prices. Trump touted the report, saying: “Prices are coming way down, and we’re going to bring them much lower yet.”

“Remember that for the midterms,” he added, invoking voters’ concerns over rising costs ahead of the November midterm elections.

Analysts had anticipated inflation to hit 3.8 percent, according to a survey by Dow Jones Newswires and The Wall Street Journal.

But Kevin Warsh, chairman of the independent US central bank, indicated Tuesday that it was still too early to celebrate.

“There might be some that look at this morning’s data and say, ‘Oh, mission accomplished! Everything is swell,’” Warsh said at a House Financial Services Committee hearing. “That is not my view.”

He told lawmakers that Federal Reserve officials have “no tolerance” for stubbornly high prices and vowed to rid the United States of a years-long “inflation surge.” “If we get policy right -- and I can assure you we will -- the inflation surge of the last five years will be a thing of the past,” Warsh said in opening remarks.

While the bank has a long-run inflation target of 2.0 percent, cost hikes have been higher than that level for around five years.

Besides inflation, US lawmakers also questioned Warsh on his ties with Trump, who selected him for the Fed role.

Markets are watching for hints that the Fed may lift interest rates later this year to counter inflation -- despite the president’s pressure for cuts.

Asked what he would do if targeted by Trump over the Fed’s interest rate decisions, Warsh said: “I would continue to do my job.”

“Outside the four walls of the Federal Reserve, there’s no doubt a lot of politics,” he added. “My goal inside the central bank is for there to be no politics. The extent there’s politics there, we’re going to get rid of them.”

He maintained that policymakers would “follow the data” and their “very best judgment” in adjusting rates.

The Fed is also monitoring the effects of AI investments on inflation and the jobs market, he said.

Excluding the volatile food and energy sectors, “core” CPI was up by 2.6 percent year-on-year in June, also below May’s reading.

Overall CPI fell by 0.4 percent between May and June, the first month-on-month decline since 2020.

White House economic advisor Kevin Hassett told Fox News that Tuesday’s report was “absolutely the best” in about six years, downplaying expected disruptions from the Middle East conflict.

Hassett added that the path towards lower US gasoline prices merely faced “a hiccup” because of Tehran.

A lower reading of underlying inflation “gives the Fed breathing room in deciding whether and when to raise interest rates,” said Nationwide chief economist Kathy Bostjancic in a note.
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But she warned that the sharp reversal in oil and gasoline prices “will keep odds for a rate hike in the coming months high.”

For now, June’s data have not shown inflation broadening out across goods and services, a concern held by central bankers, said economist Bernard Yaros of Oxford Economics.

Besides oil prices, effects from Trump’s tariffs “were not discernible” while price pressures linked to the artificial intelligence buildout were less evident than expected, he said.

US gasoline costs plunged by 9.7 percent in June on a month-on-month basis -- though they are still higher than a year ago.

Energy prices rocketed this year after the US and Israel launched strikes on Iran in late February, triggering Tehran’s retaliation in virtually blocking off the Strait of Hormuz, a key waterway for global energy transit.

ran’s Islamic Revolutionary Guard Corps has threatened to close “all other export corridors that benefit the U.S. ​and its allies”, Iranian media reported, after Iran shut the Strait of Hormuz and the U.S. reimposed a naval blockade of Iranian ports.

“Regional energy exports are either shared by ‌all, or denied to all,” the IRGC said in a statement carried by Iran’s IRNA state news agency on Wednesday.

Analysts have said Iran has been signalling it may use its Houthi allies in Yemen to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world’s most vital energy arteries at risk.

The narrow gateway links the Red Sea to the Gulf of Aden, through which Saudi oil exports and a substantial share of global ​shipping pass.

A senior Houthi official warned on Monday that the group was prepared to close the Bab el-Mandeb Strait — a move he said could send oil prices soaring to $200 a barrel — if ​Saudi Arabia continued to attack Yemen, according to a report on Iran’s Press TV website.

Houthi forces fired missiles at Saudi Arabia after accusing the kingdom of ⁠bombing an airport under their control on Monday, breaking a four-year truce in the conflict between the kingdom and the Iran-aligned group.

The Houthis have already shown they can choke global commerce through the Bab el-Mandeb. ​After the Gaza war erupted in October 2023, the Iran-backed group launched attacks on commercial shipping in the Red Sea, saying it was targeting vessels linked to Israel in support of Palestinians.

The latest threat to global shipping ​comes a day after the U.S. military said it began a fresh round of strikes “to continue degrading Iranian capabilities used to attack commercial shipping in the Strait of Hormuz.”

The United States said Iran had attacked seven commercial ships over the last week, leading to nearly a dozen crew members being killed, missing or injured.

The U.S. military said late on Tuesday that it hit dozens of military targets near the Strait of Hormuz and Iranian coastal areas. The wave of strikes lasted ​seven hours, the U.S. Central Command said in a statement.

Iranian government spokesperson Fatemeh Mohajerani said at least 30 civilians had been killed in recent days due to the U.S. strikes on southern Iran, state ​media reported on Wednesday.

Iran’s army said at least seven active-duty and conscript personnel were killed in overnight U.S. strikes on the Bampur military base in the country’s southeast.

‘END OF AMERICA’S EVILS’

The IRGC said on Wednesday that the Strait of ‌Hormuz would remain ⁠closed until what it described as “the end of America’s evils”. Before the war began in February, about a fifth of global oil and gas shipments passed through Hormuz each day.

The Guards said they had targeted what they described as command-and-control, logistics, fuel and military equipment facilities belonging to the U.S. Fifth Fleet in Bahrain, in response to the latest U.S. strikes in the Strait of Hormuz.

They also said they had set fire to and destroyed what they described as a U.S. logistics facility in Kuwait’s Mina Abdullah and that their air force had struck what they described as a U.S. base at Azraq in Jordan, targeting aircraft hangars. They ​said some of the U.S. attacks had been launched ​from bases on Jordanian territory.

Earlier on Wednesday, Kuwait’s ⁠state news agency reported that a fire was brought under control at a site targeted in Iranian attacks. It was not immediately clear whether the fire was at the same site referred to in the IRGC statement.

Jordan’s air defence intercepted and shot down three ballistic missiles that entered the country’s airspace from Iranian ​territory early on Wednesday.

The hostilities between Iran and the U.S. re-ignited last week, fraying an already fragile truce reached in June after several months of ​fighting that has killed thousands.

TRUMP ⁠THREATENS TO HIT ENERGY TARGETS

U.S. President Donald Trump on Tuesday threatened to hit Iranian power plants and bridges next week unless Tehran resumes negotiations.

“I’ll save the energy targets for last, but ultimately we’ll hit energy targets,” Trump said in an interview with Fox News’ Trey Yingst.

U.S. negotiators had been in touch with their Iranian counterparts to tell them “you better make a deal”, Trump added.

As tensions escalated, Trump on Monday floated the idea of a 20 percent fee on shipping ⁠through the strait, ​which drew sharp criticism from the U.N. shipping agency and others. On Tuesday, he scrapped the idea and said, without providing details, ​that he would instead seek investment deals with Gulf states.

Oil prices rose on Wednesday, after closing up 2 percent to a one-month high on Tuesday, as the latest attacks deepened a supply disruption in the Strait of Hormuz.

For the second straight session, Brent closed at its highest ​since June 12 and West Texas Intermediate at its highest since June 15. Both contracts rose further in early Wednesday trading.

Oil extended gains by around 2 percent on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran’s Islamic Revolutionary Guard Corps threatened to close “all other export corridors that benefit the U.S. and its allies”.

Brent futures climbed $1.71, or 2 percent, to $86.44 a barrel at 0806 GMT. West Texas Intermediate futures gained $1.43, or 1.8 percent, to $80.77 a barrel.
Oil prices settled up 2 percent at a one-month high on Tuesday as attacks exacerbated a supply disruption in the Strait of Hormuz, through which about a fifth of the world’s oil and liquefied natural gas passed prior to the beginning of the Iran war.“Regional energy exports are either shared by all, or denied to all,” Iran’s Islamic Revolutionary Guard Corps said in a statement carried by Iran’s IRNA state news agency on Wednesday.

Brent futures climbed $1.71, or 2 percent, to $86.44 a barrel, while West Texas Intermediate futures gained $1.43, or 1.8 percent, to $80.77 a barrel

Analysts have said Iran has been signalling it may use its Houthi allies in Yemen to shut the Bab el-Mandeb gateway to the Red Sea, opening a new front against Washington and putting two of the world’s most vital energy arteries at risk.

Hostilities between Iran and the US reignited last week, fraying an already fragile truce reached in June after several months of fighting.

Early on Wednesday, the US began a fresh round of strikes to continue degrading Iranian capabilities used to attack commercial shipping in the Strait of Hormuz, the US military said.

“I’ll save the energy targets for last, but ultimately we’ll hit energy targets,” Trump told Fox News in an interview aired Tuesday night on “Special Report with Bret Baier”.

“The US naval blockade of ships coming/going to Iranian ports is tightening the oil market, considering that Iranian crude exports were around 1.5 million to 2 million barrels per day in the last two weeks,” said UBS analyst Giovanni Staunovo.

Goldman Sachs estimated in a note that Gulf exports recovered to more than 80 percent of pre-war levels after the US-Iran memorandum of understanding in June but slipped back below 50 percent, or about 11 million bpd, over the last week.

The bank said Brent could exceed $110 in the fourth quarter this year if Gulf export recovery continues to stall.

Iran’s army said early on Wednesday that it had launched drone attacks against US positions at Jordan’s Azraq base. There was no immediate comment from the Pentagon.

Meanwhile, Iran’s Islamic Revolutionary Guard Corps said it targeted weapons and storage facilities in Bahrain and Kuwait. Reuters could not immediately verify the reports.

SK Trims & Industries, an accessories manufacturer, has reported a narrower net loss for the first quarter of fiscal 2025-26, driven by lower manufacturing and operating expenses compared with the same period a year earlier.

According to a disclosure published today (14 July), the company's loss per share fell to Tk0.33 in the July-September quarter from Tk0.53 in the corresponding period of the previous fiscal year.

The company published its quarterly financials today, around six months after the quarter ended.

Explaining the improved performance, SK Trims said its negative earnings per share (EPS) improved due to lower manufacturing and operating expenses, which reduced its net loss after tax compared with the same period a year earlier.

Net operating cash flow per share improved to Tk0.28 from negative Tk0.02 in the July-September quarter of the previous fiscal year, mainly due to higher cash collections from turnover during the period, the company said.

However, its net asset value per share stood at Tk11.93 as of 30 September 2025, which was Tk14.96 as of 30 September 2024.

Following the disclosure, SK Trims shares surged by 5.97% today to Tk14.20 each at the Dhaka Stock Exchange.

According to its auditor, SK Trims incurred a loss of Tk28.17 crore and its revenue declined to Tk26.43 crore.

The auditor said a primary driver of the operational disruption was a significant delay in the renewal of the company's bond license, which stemmed from the internal administrative misstatement and procedural oversights.

Bangladesh has called for stronger United Nations support to ensure a sustainable graduation from the Least Developed Country (LDC) category, implement the Sustainable Development Goals (SDGs), and advance the government's reform agenda.

Prime Minister's Finance and Planning Adviser Rashed Al Mahmud Titumir made the appeal during separate meetings at the UN Headquarters in New York with UN Under-Secretary-General Li Junhua, Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) Armida Salsiah Alisjahbana, and UNDP Regional Director Kanni Wignaraja.
During the meetings, Titumir reiterated Bangladesh's request for a three-year extension of its LDC graduation preparatory period. He also outlined the government's "3R" strategy – Recovery, Restoration and Reconstruction for Acceleration – to restore macroeconomic stability and implement institutional reforms following the public mandate expected from the February 2026 national election.

UN representatives reaffirmed their continued support for Bangladesh's LDC graduation process, governance reforms, climate resilience initiatives and expansion of social protection programmes.

Photo: Courtesy
Photo: Courtesy

In his meeting with Li Junhua, Titumir formally presented Bangladesh's request for the extension, saying additional time is needed to maintain macroeconomic stability, effectively implement the Smooth Transition Strategy and ensure a sustainable and irreversible graduation from LDC status.

Li assured Bangladesh of the UN Department of Economic and Social Affairs' continued support and pledged to work closely with the country to facilitate a successful transition.

Bangladesh seeks stronger global support to bridge $132b SDG financing gap

Separately, speaking at the General Debate of the High-Level Political Forum on Sustainable Development (HLPF) 2026 at the UN Headquarters on Monday, Bangladesh's Country Statement highlighted the need for stronger international support, including grants, concessional financing and technology transfer, to bridge an annual SDG financing gap of more than $132 billion and accelerate progress towards the 2030 Agenda.

The statement said Bangladesh continues to face significant financial constraints in achieving the SDGs, particularly in clean energy, economic growth and infrastructure. It also noted a 37% funding shortfall for supporting around 1.3 million Rohingya refugees, with an immediate financing gap of approximately $261 million.

Advanced Chemical Industries (ACI) PLC has decided to invest Tk700 crore in its subsidiary, ACI Logistics Limited, which operates under the retail brand Shwapno.

The investment decision was approved at a meeting held today (14 July), according to company sources.

As part of the investment, ACI will subscribe to 70 lakh convertible preference shares of ACI Logistics, each with a face value of Tk1,000. The investment is expected to be completed by 15 October of the current year.
The move is expected to strengthen ACI Logistics' capital base and support the continued expansion of its retail operations under the Shwapno brand, according to the company's statement.

RSGT Bangladesh, the country's first international container terminal operator, on Tuesday officially launched full-scale operations at the Patenga Container Terminal after investing $170 million over the past two years, aiming to enhance cargo handling capacity, reduce vessel turnaround time and strengthen Bangladesh's maritime logistics.

The inauguration ceremony in Dhaka was attended by Finance Minister Amir Khasru Mahmud Chowdhury as chief guest, alongside senior officials from the governments of Bangladesh and Saudi Arabia, underscoring growing bilateral cooperation in trade, logistics and investment.

RSGT Bangladesh said it has completed the deployment of modern container handling equipment, digital systems and operational infrastructure, marking the completion of its transformation of the Patenga Container Terminal under a 22-year concession agreement with the Chittagong Port Authority (CPA).
Since taking over operations in 2024, the company has invested in expanding the terminal's capacity and modernising its facilities.

The company said it has committed $170 million to develop the terminal into an international-standard facility.

Among the major investments are $30 million for four ship-to-shore (STS) cranes and $25 million for 14 hybrid rubber-tyred gantry (RTG) cranes. It also invested $3 million in a container scanner while expanding container yards, warehouse facilities and digital operations.

According to the company, the terminal now operates with a full fleet of modern container handling equipment and internationally trained personnel.

RSGT Bangladesh began commercial operations at the terminal in June 2024 by handling its first commercial vessel. It later introduced full import and export container operations, implemented digital process automation through an e-portal and obtained Green Terminal Certification from Bureau Veritas.

The company said the terminal has grown from handling only a few thousand containers during its initial months to becoming a modern international gateway capable of supporting Bangladesh's expanding external trade.

Speaking at the event, company officials thanked the Chittagong Port Authority for its support throughout the project's implementation, describing the development as an example of successful public-private partnership in port infrastructure.

They said the modernisation of the terminal is expected to improve operational efficiency, shorten vessel turnaround times, increase cargo handling capacity and strengthen Bangladesh's position as a regional trade and logistics hub.

The inauguration was attended by senior representatives from the Saudi Ministry of Investment and the Ministry of Transport and Logistics Services, the chairman of the Chittagong Port Authority, the Saudi ambassador to Bangladesh, executives from leading global shipping lines, including Maersk, CMA CGM, MSC and PIL, as well as representatives from BGMEA, BKMEA, BIDA, ICD operators and shipping and clearing agents' associations.

RSGT Bangladesh, a subsidiary of Saudi Arabia-based Red Sea Gateway Terminal Group, is operating the Patenga Container Terminal under a 22-year concession agreement with the Chittagong Port Authority. The company said it will continue investing in technology, infrastructure and workforce development to support Bangladesh's growing trade and logistics sector.

Speaking as the chief guest, Amir Khasru Mahmud Chwdhury said the entry of Saudi Arabia's RSGT into Chattogram is seen as a vital step toward fixing the long-standing logistics issues that plague the local business community -- primarily vessel turnaround and delivery times.

"Every hour and every day costs money in business," the minister noted, stressing that port efficiency is the backbone of the country's economic growth.

The goal is to establish Chattogram as the primary logistics hub not just for Bangladesh, but for the entire South Asian region, he said.

Reflecting on the historical relationship between Dhaka and Riyadh, the minister said the deepening Saudi-Bangladesh ties began with former president Ziaur Rahman's close relationship with the Saudi royal family.

The relationship expanded significantly under Khaleda Zia, paving the way for over 4 million Bangladeshi expatriates currently working in Saudi Arabia.

The minister welcomed RSGT's presence as a natural continuation of this historic bond and urged the Saudi firm to look beyond the port sector for future investments, promising the government's full support.

Aamer Abdullah Zainal Alireza, executive chairman of RSGT, and Erwin Haaze, CEO of RSGT Bangladesh, also spoke at the event.

The visiting International Monetary Fund mission yesterday (14 July) held a meeting with the Economic Relations Division (ERD) to assess the country's external debt risks.

During the meeting at the Secretariat, the IMF sought detailed information on Bangladesh's cost of debt, availability of concessional financing, growing reliance on market-based floating-rate loans, average borrowing costs, and external debt-servicing obligations.

According to ERD officials who attended the meeting, the multilateral lender also sought an explanation for the recent decline in external loan disbursements to Bangladesh. In addition, the mission asked why budget support from development partners has fallen in recent years.
The officials said they told the mission that Bangladesh is transitioning from a "low-risk stabilisation phase" to a "medium-risk acceleration phase" in terms of external debt risk.

They said external borrowing has become increasingly expensive as concessional financing dwindles. Bilateral lenders, particularly Japan, are shifting towards less concessional loans, while the share of market-based floating-rate borrowing from multilateral lenders such as the World Bank and the ADB continues to rise.

Floating-rate loans accounted for about 30% of Bangladesh's external debt portfolio in FY25, and officials expect that share to increase further in the recently concluded fiscal year.

Bangladesh is entering a period of intense fiscal pressure, with external debt servicing set to surge sharply over the next five years, exposing the limits of its already weak revenue base, officials told the IMF.

According to an ERD report, the country will need to pay nearly $26 billion in external debt servicing between the current fiscal year and FY30.

In the 54 years since independence in 1971, Bangladesh has paid around $40 billion in debt servicing. Now, nearly two-thirds of that amount will be repaid within just five years.

Review part of broader macroeconomic assessment

ERD officials said the IMF's review forms part of its broader assessment of Bangladesh's macroeconomic conditions and external debt sustainability.

As part of the exercise, the mission sought an update on the country's external borrowing position and asked what steps the government is taking to accelerate the disbursement of committed foreign loans that remain stuck in the pipeline.

Officials said they informed the IMF mission that the government is reviewing many ongoing projects inherited from the previous administration and is taking a cautious approach to approving new externally financed projects.

They added that development activities slowed during the interim government's tenure, contributing to weaker foreign loan disbursements.

According to ERD data, Bangladesh currently has $41.73 billion in undisbursed foreign loans in the pipeline. External loan disbursements totalled $4.577 billion in July-May, down 18.3% from $5.488 billion in the corresponding period a year earlier.

For FY25, total external loan disbursements stood at $9.26 billion, compared with $10.25 billion in the previous fiscal year, ERD data shows.

Budget support

Officials said the IMF also sought an explanation for recent trends in budget support.

According to the ERD, Bangladesh received a record $3.44 billion in budget support in FY25, but the amount fell sharply to $1.56 billion in FY26. Officials expect budget support to decline further in the current fiscal year.

They said budget support increased in the aftermath of the Covid-19 pandemic and the Russia-Ukraine war to help Bangladesh cope with mounting economic pressures.

More recently, heightened geopolitical tensions stemming from the Israel-US conflict with Iran have further increased the need for external financing.

Bangladesh exited an existing $5.5 billion IMF loan programme, agreed in 2023 under the previous government, and is now seeking a new three-year package worth $4-4.5 billion with revised reform conditions.

The high-level IMF delegation arrived in Dhaka on 12 July for a five-day fact-finding mission to assess the feasibility of the fresh loan package.

China's exports surged more than expected last month, with official data on Tuesday showing that the global AI boom helped fuel demand for chips and computing equipment from the world's second-largest economy.

The figures came despite global trade disruptions caused by the US-Israeli war on Iran, providing a much-needed boost to China, which is increasingly reliant on exports to fuel growth.
Overseas shipments rose 27.0 percent year-on-year, beating the 19.0 percent forecast in a Bloomberg survey of economists.The General Administration of Customs data also showed imports soared 36.0 percent, easily outstripping the 26.1 percent estimated in the Bloomberg survey, and well up from the 27.4 percent jump seen in May."Trade values took another big leg up in June. This predominantly reflects the recent surge in semiconductor prices on the back of the AI boom," Julian Evans-Pritchard, of Capital Economics, said in a note.The value of China's semiconductor exports more than doubled from the same month a year ago and rose $2.7 billion from May, while data processing equipment shipments also rose 53.1 percent from a year earlier.

But that expansion was "entirely a price story caused by the ongoing shortage of memory chips", Evans-Pritchard said, noting that the volume of semiconductor exports actually fell year-on-year in June.

"Surging semiconductor prices are playing a key role in pushing up import values," rather than domestic consumption surging, he said.

Automobile exports jumped 69.6 percent on-year, reflecting strong demand for Chinese electric vehicles, he added.

Shipments to the United States rose 13.9 percent to $43.5 billion, putting China's trade surplus with its superpower rival at $28.9 billion.

Ties between Washington and Beijing have stabilised since US President Donald Trump visited Beijing in May, but the persistent trade imbalance remains a source of friction between the two.

China is also locked in a simmering trade feud with the European Union, with which it recorded a trade surplus of $32.9 billion in June, a rise from $30.7 billion in May.

June's data "showcases the competitiveness and resilience of China's manufacturing sector", Zhang Zhiwei, of Pinpoint Asset Management, wrote in a note.

"It also put further pressure on the trade tension between China and its trading partners, Europe in particular," he said.

The volume of rare earths exports sank 34 percent last month and 6.4 percent on-year in the first six months of the year as Beijing tightened restrictions on the critical elements.

China accounts for around two-thirds of the total global production of the minerals, which are used to make everything from smartphones to missiles, and has wielded its dominance in the sector as a weapon in trade wars with the West.

China's overall trade surplus hit $126 billion last month, up from $105 billion in May, a gap that is worrying for European economies and other governments.

Stakeholders and policy experts have urged the government to make the blue economy a national priority, calling for stronger governance, a comprehensive legal framework and greater inter-ministerial coordination to unlock Bangladesh's vast ocean-based economic potential.

The call came at a policy dialogue titled "National Stakeholder Consultation on Blue Economy Governance in Bangladesh", held yesterday (13 July) at the Doyel Seminar Hall of SIMEC Institute of Technology in Uttara.

The consultation was organised by the Blue Economy Think Tank and chaired by Prof S M Shameem Reza of the Department of Mass Communication and Journalism at the University of Dhaka.

Speakers said Bangladesh's marine resources present significant opportunities to boost sustainable development and economic growth, provided the sector is supported by effective policies, institutional collaboration and scientific research.

They called on the government to formulate a comprehensive national strategy and legal framework for the exploration, utilisation and sustainable management of marine resources.

Participants also stressed the need to strengthen coordination among ministries and foster closer collaboration between government agencies, research institutions and other stakeholders involved in the sector.

The discussants said policymakers and researchers with specialised expertise in the blue economy should play a leading role in designing and implementing policies.

They also highlighted the importance of public-private partnerships in attracting foreign investment and accelerating sustainable economic development through the responsible use of marine resources.

Among those attending the consultation were Bangladesh Investment Development Authority (BIDA) Director General (Investment Promotion) Jibon Krishna Saha Roy, Prime Bank Deputy Head of Sustainable Finance Fareba Naz Shaule, Executive Officer Sharmin Akter Shetu, SIMEC Group Executive Director Foara Yasmin, BRAC University Assistant Professor Ratan Kumar Roy, Port City University Senior Lecturer Md Nurul Amin, Maasranga Television Special Correspondent Noor-un-Nahar Weely, Australia Awards 2024 alumni, and faculty members and researchers from public and private universities.

The consultation was organised under the Australia Awards - Driving Change: Alumni Grants for Innovation initiative, which aims to promote knowledge-sharing on the blue economy and strengthen stakeholders' capacity to support sustainable ocean governance in Bangladesh.

The dollar steadied on Tuesday ahead of US inflation data, with Middle East tensions lifting oil prices.

The yen was calm amid caution over possible intervention and after policymakers’ comments on state pension fund allocations.The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, eased 0.09 percent to 101.18.Inflation risks remain in the spotlight with the release of US June CPI data on Tuesday.June PPI gauges follow the next day, along with Fed Chair Kevin Warsh’s first semiannual testimony before Congress.

Concerns over escalating tensions between the United States and Iran returned to the fore.

President Donald Trump said on Monday Washington was reinstating a naval blockade on Tehran.

He added that the US would ensure the Strait of Hormuz remained open for a fee following fresh exchanges of missile and drone strikes.

US and Iranian forces exchanged heavy missile and drone assaults at the weekend.

Tehran struck US facilities across the Gulf on Sunday and said it had again closed the vital Strait of Hormuz shipping route.

Oil prices climbed nearly 3 percent on Tuesday to their highest point in four weeks after the US said it would reimpose a naval blockade, heightening uncertainty about energy flows.

The euro was up 0.1 percent against the dollar at $1.1392 and sterling gained 0.09 percent to $1.3358.

Meanwhile, Federal Reserve Governor Christopher Waller said rates may need to rise “in the near term” if data shows inflation remaining well above the central bank’s 2 percent target.

A core CPI reading of 0.3 percent or higher would likely imply that the Fed’s preferred core PCE deflator is also running at 0.3 percent or above, depending on PPI data due later in the week.

This was noted by Ray Attrill, head of FX strategy at National Australia Bank, in a podcast.

“That may well be a trigger for a Fed rate hike as early as the July meeting,” Attrill said.

Economists’ median estimate for the June core CPI was 0.2 percent growth month-on-month

The government is operating “like the private sector, seven days a week” to clear red tape and achieve a $1 trillion economy by 2034, Finance Minister Amir Khosru Mahmud Chowdhury said yesterday.

Highlighting the massive scale of regulatory reforms, the minister noted that his recent budget speech required four and a half pages just to list the deregulation measures being introduced.

To prevent these changes from being stalled by bureaucratic bottlenecks, the government is taking direct enforcement actions, he said.

The minister made the comments while speaking as the chief guest at the formal inauguration of RSGT Bangladesh, held at the Sheraton Dhaka in Banani.

The Red Sea Gateway Terminal (RSGT) Bangladesh operates the Patenga Container Terminal at Chattogram port.

“I am constituting a task force to oversee the deregulation we have made, so nobody stands in the way,” the finance minister said.

“A website will be launched where anyone facing problems with the new deregulated framework can lodge a complaint, and we will take care of it. There will be no compromise.”

The entry of Saudi Arabia’s RSGT into Chattogram is seen as a vital step toward fixing the long-standing logistics issues that plague the local business community -- primarily vessel turnaround and delivery times, he said.

“Every hour and every day costs money in business,” the minister noted, stressing that port efficiency is the backbone of the country’s economic growth.

The goal is to establish Chattogram as the primary logistics hub not just for Bangladesh, but for the entire South Asian region, he said.

Reflecting on the historical relationship between Dhaka and Riyadh, the minister said the deepening Saudi-Bangladesh ties began with President Ziaur Rahman’s close relationship with the Saudi royal family.

The relationship expanded significantly under Begum Khaleda Zia, paving the way for over 4 million Bangladeshi expatriates currently working in Saudi Arabia.

The minister welcomed RSGT’s presence as a natural continuation of this historic bond and urged the Saudi firm to look beyond the port sector for future investments, promising the government’s full support.

Aamer Abdullah Zainal Alireza, executive chairman of RSGT, and Erwin Haaze, CEO of RSGT Bangladesh, also spoke at the event.

Stocks ended higher on Tuesday, extending the previous session's gains as growing investor confidence, driven by recent regulatory reforms and supportive fiscal measures, outweighed concerns over the possibility of renewed geopolitical tensions in the Middle East.

The benchmark DSEX index of the Dhaka Stock Exchange gained 44.69 points, or 0.76 per cent, to close at 5,911.24.

The day's index was the highest in 23 months, since August 14, 2024, when the index stood at Tk 5953.

Market operators said investor sentiment has continued to strengthen following the passage of the Finance Bill 2026, which introduced a range of incentives aimed at revitalising the country's capital market. They also noted that recent reform initiatives announced by the securities regulator have reinforced expectations of a more efficient and transparent market.

Analysts said the budgetary measures are expected to make equity investments more attractive, encourage greater participation from both retail and institutional investors, strengthen the mutual fund industry, and enable companies to raise long-term funds more efficiently through the capital market.

The DS30 index, comprising leading blue-chip companies, increased 24 points to 2,227, while the DSES index, which tracks Shariah-based stocks, increased 10.24 points to 1,207.

Market participation improved on Monday, with turnover on the Dhaka Stock Exchange (DSE) rising to Tk 16.51 billion from Tk 14.19 billion in the previous session.

Gainers outnumbered Losers on the DSE floor. Of the 393 issues traded, 199 closed higher and 137 ended lower, while 57 remained unchanged.

The Chittagong Stock Exchange also ended higher, with its All Shares Price Index (CASPI) gaining 67.5 points to 15,778 while the Selective Categories Index (CSCX) rose 38.6 points to 9,673.

The benchmark index of the Dhaka Stock Exchange (DSE) climbed above the psychological 5,900-point mark on Tuesday (14 July), reaching a 23-month high as investors aggressively accumulated shares on expectations of regulatory reforms.

The DSEX gained 44 points, or 0.75%, to close at 5,911, its highest level in nearly two years. The blue-chip DS30 index also advanced 24 points to 2,227.

Trading activity strengthened significantly, with turnover rising 16% to Tk1,651 crore from the previous session.

According to EBL Securities' daily market review, the stock market extended its rally for a fourth straight session as investor sentiment remained upbeat over proposed revisions to margin loan rules and planned measures to improve market liquidity, including a shorter share settlement cycle and the introduction of scrip netting for intraday trading.

The market opened higher and maintained its upward momentum throughout the session. Strong participation and broad-based buying intensified in late trading, helping the benchmark reclaim the 5,900-point level for the first time in nearly two years.

Analysts said optimism over domestic policy initiatives outweighed concerns stemming from the renewed conflict in the Middle East.

The textile sector led trading, accounting for 14.1% of total turnover, followed by general insurance with 13.7% and engineering with 9.3%.

Among sectors, cement posted the highest gain, rising 3.5%, followed by tannery at 1.8% and jute at 1.7%. Life insurance, mutual funds and general insurance edged lower as investors booked profits.

Market breadth remained positive, with 199 stocks advancing, 137 declining, and 57 remaining unchanged.

Lovello Ice Cream was the most traded stock by value, followed by Bangladesh Shipping Corporation, Malek Spinning, LafargeHolcim Bangladesh and IPDC Finance.

Aman Feed topped the gainers with a 9.97% rise, followed by National Tea (9.96%), Northern Jute (9.94%) and Rahima Food (9.93%).

International Leasing was the day's biggest loser, falling 8.33%, followed by Meghna Insurance and Premier Leasing.

Market analysts said the DSEX could test the 6,000-point resistance level if the regulator implements the proposed margin rule changes and liquidity-enhancing measures over the next two weeks.

The Bangladesh Securities and Exchange Commission (BSEC) has approved Royal Footwear PLC's proposal to raise Tk12 crore through an Initial Qualified Investor Offer (IQIO) on the SME platform, marking the regulator's first approval for SME fundraising in more than two years.

The approval came at the commission's meeting held at the BSEC headquarters today (14 July).

The 100% export-oriented footwear manufacturer will issue shares under the fixed-price method and use the proceeds to expand its operations, strengthen its business, and meet growing export demand.

According to the approved utilisation plan, Tk8 crore will be used to repay bank loans, Tk2 crore to purchase raw and packing materials, Tk1.67 crore to procure spare parts, and the remaining Tk0.33 crore will cover expenses related to the IQIO.

Royal Footwear exports shoes to several international markets, including supplying products to the renowned US footwear retailer ROSS.

For the issue, Prime Bank Investment PLC has been appointed as the issue manager, while Prime Bank Investment PLC and EC Securities Limited will act as the underwriters.

The approval signals a gradual revival of fundraising through the SME capital market, where new public offerings had stalled for more than two years.

Royal Footwear had initially applied for the same fundraising plan in 2024 but later withdrew its IQIO proposal, citing political uncertainty, a slowing economy, and an unfavourable business environment for expansion.

With the business environment showing signs of improvement, the company has revived the plan to support capacity expansion and capitalise on growing export opportunities.

Royal Footwear shares some common directors with Al-Madina Pharmaceuticals PLC, an SME-listed company that raised Tk5 crore through the SME platform in February 2023. Al-Madina declared a 12% cash dividend for shareholders for FY25.

According to the company, incorporated in 2014, the decision to enter the capital market is aimed at expanding operations while strengthening corporate governance and compliance standards. Management said several international buyers have encouraged the company to become publicly listed, believing it would enhance governance, transparency, and compliance with global standards.

Royal Footwear primarily exports to European and Asian markets, where demand for its products has continued to grow. Management also views capital market financing as a more sustainable long-term funding source than relying heavily on bank borrowing.

According to the company's audited financial statements for the year ended 31 December 2025, the net asset value (NAV) per share, including revaluation, stood at Tk27.54, while the NAV per share without revaluation was Tk15.74. Its earnings per share (EPS) for the half-year stood at Tk0.82.

For FY2024-25, Royal Footwear reported revenue of Tk52.91 crore, slightly higher than Tk52.34 crore in the previous fiscal year. However, profit after tax declined to Tk2.78 crore from Tk3.19 crore a year earlier, while EPS fell to Tk0.82 from Tk0.94. The company's NAV per share, including revaluation, stood at Tk27.54.

The US government has already paid back tens of billions of dollars in tariffs it collected before the Supreme Court ruled them illegal, according to budget figures released Monday.

Tariffs -- taxes on imported goods -- have been a key part of President Donald Trump’s game economic plan since he took office again last year.

But in February, the Supreme Court shut down a big chunk of the extra tariffs Trump ordered, forcing the government to return money to the companies that had paid them.

According to the budget data, the US has paid out $81 billion in tariff refunds so far this fiscal year, which started in October 2025, compared to just $5 billion during the same stretch last year.

A Treasury Department official told reporters that the spike is almost entirely because of the Supreme Court decision, with most of the refunds happening in May and June. Trump had pitched the tariffs as a catch-all fix for the economy -- bringing factories back to America, getting better trade deals and closing the deficit in the federal budget.

But the deficit, which had actually gotten a little smaller last year thanks to the tariff income, is now growing again.

It hit $1.367 trillion in the first nine months of the fiscal year, up two percent.

The US also spent over $1 trillion just on paying interest on its debt, up 14 percent, and military spending climbed five percent because of the war in the Middle East.

Bangladesh will expedite efforts to explore international bond markets to gather an increased volume of foreign funds to finance development works, the government was learnt to have told a visiting IMF delegation on Tuesday.

This way, it said, the domestic borrowings will be lessened as it ultimately lowers fund flow to the private sector, according to sources.

The International Monetary Fund (IMF) delegation on the day had meetings with the Government Debt and Financial Asset Management Wing of the Finance Division where they discussed domestic and external financing plans, government guarantees and the financing of the state-owned enterprises.

Also, the sources said, the Fund mission had meetings with the Economic Relations Division and the central bank discussing "external public debt stock and composition, disbursement, pipeline and rollover needs of external financing".

Moreover, they discussed the financing mix of Bangladesh's external borrowing to get update on flow of concessional loans, commercial borrowing, and non-concessional plans.

The risks to external planning, focusing geopolitical developments, and fiscal policies of donors also came up for discussion during the meetings, according to officials concerned.

The Fund delegation, led by Ivo Krznar, the IMF Mission Chief for Bangladesh, is visiting Dhaka to assess macroeconomic situation of the country and discuss a new credit programme. They are also discussing with the Bangladeshi authorities their reform agenda and policy priorities.

Bangladesh is expecting a $4.0 billion to $4.5 billion worth of credit programme once the discussion and subsequent negotiations are completed. The Fund is expected to flow in by the end of December, according to finance division officials.

The Bangladesh Bank has extended the Foreign Currency (FC)-Taka swap facility to exporters operating in the country's specialised economic zones, allowing them to access short-term Taka liquidity while retaining their foreign currency holdings.

The central bank issued a circular today (13 July) permitting Authorised Dealers (ADs) to execute FC-Taka swap arrangements against unencumbered balances maintained in eligible foreign currency accounts of exporters.

Under the facility, exporters will be able to meet local operational expenses, including wages, utility bills and other working capital needs, without permanently converting their foreign currency holdings. The measure is intended to improve liquidity management while preserving foreign exchange for future international obligations.

The facility will be available to exporters operating in Export Processing Zones (EPZs), Private Export Processing Zones (PEPZs), Economic Zones (EZs) and High-Tech Parks (HTPs).

The latest directive expands the scope of FE Circular No. 41, issued on 3 November 2025, which had restricted FC-Taka swap arrangements to balances held in 30-day pool and Export Retention Quota (ERQ) accounts.

Bangladesh Bank said the measure also complements FE Circular No. 31, issued on 1 July 2025, under which industrial enterprises in specialised zones were allowed to maintain the foreign currency accounts that are now eligible for the swap facility.

The central bank said all other provisions of the earlier circulars will remain unchanged.

Bangladesh’s pharmaceutical industry is urging the government to review the country’s medicine pricing policy, saying years of limited price adjustments have squeezed profitability, discouraged investment in new medicines and put increasing pressure on smaller drug makers.

In a June 30 letter to Health and Family Welfare Minister Sardar Md Sakhawat Husain, the Bangladesh Association of Pharmaceutical Industries (Bapi) sought an urgent meeting to discuss the challenges facing the sector and propose policy support.

The association said rising production costs, persistent inflation, foreign currency shortages and constraints in the pricing regime have left many manufacturers struggling to survive.

Bangladesh has 258 pharmaceutical manufacturers, but the market has become highly concentrated, according to Bapi. Just 20 companies account for about 94 percent of total production, while the remaining 238 produce only 6 percent. Citing data from IQVIA, a leading global healthcare data company, it said 64 of the top 100 pharmaceutical companies recorded negative growth in 2025.

Bapi also rejected claims that medicines made in Bangladesh are expensive. It said 30 of 39 commonly used medicines are cheaper than equivalent products in India, despite local manufacturers relying heavily on imported raw materials.

Calling the pharmaceutical industry a strategic national asset, the association urged the government to introduce policies that would help restore the competitiveness of smaller manufacturers.

Industry leaders echoed Bapi’s concerns, saying the current pricing policy is discouraging investment in research and development and making it harder to introduce innovative medicines.

Abdul Muktadir, chairman and managing director of Incepta Pharmaceuticals, said Bangladesh’s pharmaceutical industry grew rapidly over the past three decades because of policy reforms that encouraged competition and investment.

He said the National Drug Policy introduced in the early 1980s shifted the industry’s focus towards essential medicines, while reforms in the early 1990s gave companies greater flexibility to set prices and expand their product range.

“The free-market approach encouraged competition,” he told The Daily Star. “As more companies entered the market, medicine prices fell while product quality improved.”

However, he said the industry’s momentum has slowed since 2016 as the drug regulator has become increasingly restrictive in approving prices for new medicines.

“If it costs Tk 10 to produce a technologically advanced medicine but the approved price is Tk 8, no company will continue investing in innovation,” he said.

According to Muktadir, companies are now less willing to introduce complex medicines that require significant investment in research and manufacturing technology. He also claimed that around 60 of the country’s roughly 100 pharmaceutical companies are struggling because of pricing constraints.

He called for a review of the current pricing framework, saying a commercially viable system is needed to sustain investment in research and development.

The industry also faces fresh challenges as Bangladesh prepares to graduate from least developed country (LDC) status.

Rabbur Reza, chief operating officer of Beximco Pharma, said Bangladesh has benefited from the World Trade Organization’s intellectual property waiver, which allows local manufacturers to produce certain patented medicines at affordable prices.

After the waiver expires, medicines introduced later will require licensing agreements with patent holders, involving royalty payments and higher costs.

While large companies may be able to negotiate such agreements, smaller manufacturers are likely to find it difficult because of limited financial capacity, he said. He urged companies to register as many eligible products as possible before the waiver expires.

Kaiser Kabir, managing director and CEO of Renata PLC, said many pharmaceutical companies are dropping low-margin medicines as rising costs and years of limited price adjustments squeeze profitability.

He said only 32 of the country’s top 100 pharmaceutical companies recorded revenue growth, while the rest posted lower sales.

“The industry has been going through a series of shocks since 2020,” he said, citing the Covid-19 pandemic, the depreciation of the taka, high inflation and disruptions to global supply chains.

Kaiser said the weaker taka has sharply increased the cost of imported raw materials, but manufacturers have not been able to fully pass on those costs because medicine prices have remained largely unchanged.

“If prices cannot reflect production costs, companies will stop making some medicines,” Kabir said.

He warned that patients could eventually have to rely on more expensive imported medicines, including products brought into the country illegally, as cheaper locally made alternatives disappear from the market.

Bangladesh's electric vehicle (EV) industry is poised to enter a new growth phase, with around Tk4,000 crore in private investments announced over the past few years expected to gather pace following incentives unveiled in the FY2026-27 budget.

From automotive manufacturers and industrial conglomerates to energy companies and filling station operators, private investors are positioning themselves for what they believe could become Bangladesh's next major manufacturing and infrastructure industry.

Industry leaders, however, say the sector's biggest challenge has shifted to ensuring reliable electricity, faster grid connections, and commercially viable charging stations.

The budget has changed the investment equation significantly, several industry leaders told The Business Standard. They added that charging stations remain a long-term business that requires policy support, quality electricity and patience.

The FY27 budget reduced import duties on EVs, introduced tax incentives for local EV manufacturing, exempted duties on charging equipment, and proposed fiscal incentives for charging station operators. The draft EV Industry Development Policy has also proposed a 10-year income tax exemption for charging station businesses.

The government has also set a target of establishing 1,200 commercial EV charging stations by 2030, with the Sustainable and Renewable Energy Development Authority (Sreda) tasked with preparing the regulatory framework and implementation guidelines.

Md Aminur Rahman, director of Sreda, said they have received a large number of applications for commercial charging stations. "We are approving applications phase by phase after technical inspections," he told TBS.

Tk4,000cr investment in pipeline

Industry insiders estimate that more than Tk4,000 crore in investments are now in the pipeline, spanning the manufacture and assembly of electric cars, motorcycles and scooters, as well as the development of charging infrastructure.

The Bangladesh Auto Industries Limited has announced the largest investment so far, committing Tk1,500 crore to establish an EV manufacturing facility in Mirsarai while simultaneously developing charging infrastructure.

Nasir Group and Akij Motors have each unveiled Tk500 crore investment plans, while Rancon Motors has committed Tk300 crore for EV assembly and charging stations.

Runner Automobiles, in partnership with EV giant BYD, is implementing a phased Tk260 crore investment to locally manufacture electric vehicles alongside charging infrastructure.

PRAN-RFL and Walton Group have each earmarked around Tk200 crore for electric mobility projects, primarily electric scooters and related infrastructure.

Several other companies, including TMSS, Progress Motors, Sena Hotel (Radisson Blu), Kazi LPG, Good Luck Filling Station, and Isha Kha Group, have either secured approval or are preparing investments in commercial charging stations.

According to Sreda, 32 commercial charging stations have received approval, but only nine are currently operational, including in Dhaka, Chattogram, Cox's Bazar, and Cumilla. Besides, thousands of home charging units have already been installed alongside newly sold EVs.

By comparison, India has 29,151 public EV charging stations, Nepal has around 400, while more than 100 stations have been licensed in Pakistan, according to available official data from the respective countries.

Sreda Director Aminur said commercial DC charging stations have already been approved for Rancon Motors and Progress Motors in Dhaka, Kazi LPG and Sena Hotel in Chattogram, TMSS along the Bogura-Rajshahi corridor and Good Luck Filling Station in Rajshahi.

"We have comprehensive guidelines covering land requirements, location, equipment quality, investment size and electricity quality," he said.

Meanwhile, the government is set to introduce 400 electric buses in Dhaka, aimed at reducing air pollution and modernising the capital's public transport system.

Transport experts have welcomed the initiative, but said the project's success will depend on developing adequate charging infrastructure, and maintenance facilities.

Power reliability, profitability remains biggest hurdles

Hafizur Rahman Khan, chairman of Runner Automobiles, said every BYD vehicle sold by the company is supplied with a home charger that can operate using a standard household electricity connection.

"Commercial charging stations are a different story," he said. "They require high-quality, uninterrupted power supply, and that remains our biggest concern."

He explained that home charging typically takes between 5-10 hours, whereas highway charging must be completed within 5-10 minutes using ultra-fast DC charging technology.

"BYD already has that technology. But Bangladesh currently lacks both the quality electricity supply and the supporting infrastructure needed to deploy it on a large scale," he said.

Establishing a conventional commercial DC fast-charging station requires an investment of around Tk1-Tk1.5 crore, while an ultra-fast charging station, including land acquisition and dedicated substations, could cost between Tk3-Tk5 crore, he said.

"After making such a large investment, operators will need years to attract enough customers to generate acceptable returns," Hafizur added.

Shahriar Hasan Utsho, co-founder of Crack Platoon Charging Solutions, said they are currently assisting dozens of businesses in establishing charging stations and obtaining regulatory approvals.

"There is strong investor interest, but everyone asks the same question: When will we recover our investment?" he said. "A DC charging station costs around Tk1-Tk1.5 crore, yet the number of EVs remains limited. No one can estimate how long it will take to break even."

He cited the example of a privately operated charging station in Bogura that sometimes goes an entire day without serving a single vehicle. "The staff remain idle because there simply are not enough EVs on the road yet," he said.

The manager of one charging station said his company invested nearly Tk70 lakh to install a 10-kW Level-2 charger, but customer numbers remain low. "This is still a new business in Bangladesh. We hope demand will gather momentum."

Sreda's Aminur acknowledged that deploying ultra-fast charging infrastructure nationwide would take time. "Given Bangladesh's current power system, we are prioritising DC fast-charging stations based on an energy-efficient model.

He said Sreda's immediate focus is to ensure uninterrupted electricity supply, and it arranges dedicated power support for charging stations depending on location and demand. Sreda is also focusing on introducing solar-based charging stations, he added.

Runner Chairman Hafizur Rahman Khan argued that private investors alone cannot build a nationwide charging network during the market's early stage.

"This business is still at a nascent stage. Initially, the government needs to take the lead by investing in charging infrastructure or providing financial support. Once the market matures and vehicle numbers increase, private investment will naturally follow," he said.

Companies build entire EV ecosystem

Runner Automobiles has established branded charging points in Dhaka, Cumilla, Chattogram, Bogura and Cox's Bazar for BYD customers while expanding technician training. The company said it has already sold more than 1,000 BYD vehicles in Bangladesh.

Samiul Hasan, chief marketing officer of Nasir Group, said, "We are investing across the entire ecosystem vehicle manufacturing as well as charging stations because we believe the market will expand significantly."

Mir Masudul Karim, managing director of Bangladesh Auto Industries, said the company's locally manufactured EVs will offer a driving range of more than 450km on a full charge and support fast charging in 30 minutes.

"We are supporting both home charging and commercial charging infrastructure alongside vehicle production," he said.

Sheetal Taslim, country lead for marketing and operations at Audi Bangladesh and Ekhon Charge, said the company has installed 150 home charging units and established five commercial charging stations across the country.

She said Ekhon Charge, Bangladesh's first and largest EV charging solutions provider, has the capability to support the establishment of charging stations anywhere in the country.

Execution now matters

A full highway charge typically costs between Tk308 and Tk759, making electric driving roughly 70% cheaper per kilometre than petrol-powered vehicles.

However, industry leaders said the next phase of Bangladesh's EV transition will depend less on investment announcements and more on execution.

According to Taskeen Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI), around 6 million battery-powered three-wheelers already operate across Bangladesh, while only a few thousand electric passenger vehicles are officially registered.

"The actual number of EVs is much higher than official records. Without reliable data, planning and policymaking become difficult," he said.

He said charging infrastructures, reliable power, common technical standards, and an investment-friendly policy are essential to accelerating EV adoption.

Mohammad Wahid Hossain, chairman of the Bangladesh Energy and Power Research Council, said uninterrupted electricity would ultimately determine the industry's success.

"If EV adoption increases while electricity shortages persist, the sector cannot grow at the desired pace," he said, adding that Bangladesh also needs greater use of renewable energy and stronger coordination among government agencies.