The Bangladesh Securities and Exchange Commission (BSEC) has formed an investigation committee to examine allegations of irregularities surrounding board meetings and a leadership dispute at Navana Pharmaceuticals.

The securities regulator took the decision on 8 March and issued an official notification on 10 March, directing a four-member committee to conduct a detailed probe into the matter.

The committee consists of Lutful Kabir, additional director of the commission, Delowar Hossain, additional director, Motiur Rahman, assistant director, and Nizam Uddin, assistant director. The committee has been instructed to submit its report to the commission within seven working days, considering the urgency and importance of the issue.

The dispute stems from developments during the company's 65th board meeting held on 28 January. After approving the official agenda items, the meeting was formally closed by chairman and independent director Saiqa Mazed.

However, after the meeting was adjourned, another faction of the board reportedly convened and elected Javed Kaiser Ally as the new chairman and Sayeed Ahmed as the managing director, while also replacing the company secretary.

Saiqa Mazed later declared those decisions illegal, arguing that the appointments were made after the meeting had officially ended. She subsequently filed a petition with the BSEC seeking to annul the decisions and also lodged a case at Gulshan police station, citing threats from the rival group.

Following the allegations, the BSEC held a meeting with the board members and the company secretary of Navana Pharmaceuticals to review the situation before forming the inquiry committee.

According to the notification, the commission believes that the issue requires a comprehensive investigation as the composition of the company's board, the conduct of board meetings and corporate governance practices are closely linked with protecting the interests of general investors.

As part of the inquiry, the committee will examine several issues, including whether the company's 64th board meeting was actually held and if so, whether it was conducted in accordance with applicable laws and regulations. The probe will also review whether notices for the board meetings were properly issued as required by law and whether all eligible directors received those notices.

Investigators will also determine whether any external individuals received meeting notices or participated in the meetings and whether there were irregularities in setting the agenda, approving resolutions or preparing the minutes of the 65th board meeting.

The committee will further assess whether the processes related to appointing directors, removing the chairman and appointing or replacing the company secretary were carried out in accordance with legal requirements.

The regulator also directed that the board structure that remained in effect until the company's 63rd board meeting will continue unchanged until the disputed matters relating to the 64th and 65th meetings are resolved.

SM Fakhar-Uz-Zaman, one of the sponsors and former chairman of Rangpur Dairy and Food Products Ltd, widely known as RD Food, has announced plans to sell his entire shareholding in the company through the stock market.

He disclosed his intention to sell 1.05 lakh shares of RD Food at the prevailing market price through the public market on the Dhaka Stock Exchange (DSE) within the next 30 working days, according to a disclosure filed with the bourse.

Fakhar-Uz-Zaman, the founder of the company, served as chairman from 2004 to 2017.

Over the past few years, however, he has gradually reduced his ownership in the company. Market sources said Fakhar-Uz-Zaman began offloading shares in 2019 when he held nearly 10% of the company's shares.

Once the announced sale is completed, the former chairman will fully exit the company's shareholding.

Apart from his business involvement, Fakhar-Uz-Zaman is also active in politics. He is a presidium member of the Jatiya Party and contested the 13th national parliamentary election from the Rangpur-5 constituency, although he was unsuccessful in securing the seat.

Shares of RD Food closed 1.54% higher at Tk19.80 on Thursday on the Dhaka bourse.

The company's recent financial performance, however, reflects a decline in profitability compared to the previous year. Its earnings per share (EPS) stood at Tk0.16 for the October-December quarter of FY2025, down from Tk0.31 in the same quarter a year earlier.

For the July-December period of the 2025-26 fiscal year, the company reported EPS of Tk0.38, compared with Tk0.66 in the corresponding period of the previous year.

Meanwhile, the company's latest audit report has raised concerns over certain financial practices. Faruk Ahmed, partner at Khan Wahab Shafique Rayhman & Co Chartered Accountants, issued an opinion in the audit report for the fiscal year 2024-25.

According to the auditor, the company calculated its deferred tax liability using a previous statutory regulatory order (SRO) rate of 15% instead of applying the currently applicable rate of 22.5%, which could affect the accuracy of its reported tax obligations.

The auditor also flagged inconsistencies related to unclaimed dividends and IPO funds, noting that Tk57.37 lakh from the IPO subscription remained unadjusted under non-claimed general share applications, which overstated the company's capital position.

The auditor also raised concerns about the company's ability to repay bank loans and other liabilities, citing lower cash inflows.

The report stated that the net operating cash flow of the company decreased to Tk0.16 crore in FY25 from Tk1.47 crore in the previous fiscal year, primarily due to changes in the timing of collections and payments.

As a result, the report noted, the company is facing liquidity constraints, as reflected by delayed payments of bank loans and other liabilities.

The price of gold in Bangladesh dropped by Tk3,324 per bhori today (12 March), following two consecutive hikes, according to the Bangladesh Jewellers Association (BAJUS).

In a notification issued on morning, BAJUS said the new price of 22-carat gold has been fixed at Tk267,106 per bhori (11.664 grams), effective immediately.

The association said the price adjustment was made as the price of pure gold (tejabi gold) declined in the local market.

Under the new rates, 21-carat gold will cost Tk254,975 per bhori, while 18-carat gold has been priced at Tk218,583 per bhori. The price of gold produced through the traditional method has been set at Tk178,401 per bhori.

BAJUS last adjusted gold prices on 11 March, when the price of 22-carat gold was increased by Tk2,216 per bhori to Tk270,430.

So far in 2026, gold prices have been adjusted 41 times in the local market: raised 26 times and reduced 15 times.

Alongside gold, the price of silver has also been reduced this time. BAJUS lowered the price of 22-carat silver by Tk350 per bhori, setting the new rate at Tk6,357.

In 2026, silver prices have been adjusted 26 times so far, with 16 increases and 10 reductions.

Top US and Chinese economic officials are set to launch a new round of talks in Paris on Sunday to iron out kinks in their trade truce and clear a smooth path for US President Donald Trump's trip to Beijing to meet with Chinese President Xi Jinping at the end of March.

The discussions, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are expected to focus on shifting US tariffs, the flow of Chinese-produced rare earth minerals and magnets to US buyers, American high-tech export controls and Chinese purchases of US agricultural products.

The two sides will meet at the Paris headquarters of the Organisation for Economic Cooperation and Development, a source familiar with their planning said.

China is not a member of the club of 38 mostly wealthy democracies and considers itself a developing country.

US Trade Representative Jamieson Greer will also join the talks, which continue a string of meetings in European cities last year aimed at easing tensions that threatened a near collapse of trade between the world's two largest economies.

US-China trade analysts said that with little time to prepare and Washington's attention focused on the US-Israeli war with Iran, prospects for a major trade breakthrough are limited, in Paris or at the Beijing summit.

"Both sides, I think, have a minimum goal of having a meeting, which sort of keeps things together and avoids a rupture and re-escalation of tensions," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington.

Trump may want to come away from Beijing with major Chinese commitments to order new Boeing aircraft and buy more US liquefied natural gas and soybeans, but to get that he may need to offer some concession on US export controls, Kennedy added.

Instead, Kennedy said chances were high for a summit that "superficially suggests progress but that really just leaves things about where they've been for the last four months."

Trump and Xi could potentially meet three other times this year, including at a China-hosted APEC summit in November and a US-hosted G20 summit in December that could yield more tangible progress.

Iran war oil concerns

The US-Israeli war on Iran will likely come up at the Paris talks, especially in reference to the spike in oil prices and the closure of the Strait of Hormuz, through which China gets 45% of its oil.

Bessent on Thursday night announced a 30-day waiver of sanctions to allow the sale of Russian oil stranded at sea in tankers, a move to raise supplies.

On Saturday, Trump urged other nations to help protect shipping in the Strait of Hormuz after Washington bombed military targets on Iran's Kharg Island oil loading hub and Iran threatened to retaliate.

China's state-run China Daily newspaper in an editorial called for continuity in the US-China dialogue as a "stabilizing anchor" amid the uncertainty of the "ongoing crisis in the Middle East" and the best way to address specific differences on issues including strategic materials, technology, market access and agriculture.

Bangladesh’s trade deficit, the gap between what it buys and sells abroad, widened by 17.44 percent in the July-January period of fiscal year 2025-26, due mainly to higher imports and weaker export earnings.

The deficit reached $13.79 billion during the seven months, up from $11.74 billion in the same period a year earlier.

According to Bangladesh Bank (BB) data, import bills rose 4.6 percent year-on-year to $39.88 billion. Export earnings, meanwhile, slipped 1.1 percent to $26.09 billion.

The widening gap has raised concerns at a time when the US-Israel war on Iran has rattled global oil markets and disrupted shipping routes. Since tensions escalated in the Middle East, the Bangladeshi currency, the taka, has begun to weaken. A softer currency could raise import costs and place further strain on the trade balance.

At the same time, exports have not shown clear growth, while war-driven inflation may reduce demand in Bangladesh’s major export markets.

Despite the wider trade gap, the country’s current account deficit narrowed.

This measure, which tracks the net flow of money in and out of the country through trade in goods and services as well as income flows, stood at $381 million in July-January of FY26. A year earlier, it was $1.31 billion.

The financial account also strengthened during the period.

Supported by higher net foreign direct investment, the surplus in the account, which records cross-border flows from investment, loans, aid and other financial transactions, climbed to $2 billion from $331 million a year earlier.

Taken together, the changes pushed Bangladesh’s overall balance of payments (BoP) into a surplus of $2.28 billion. In the same period last year, the country posted a deficit of $1.22 billion.

In an article, Sadiq Ahmed, vice chairman of the Policy Research Institute of Bangladesh (PRI), said the fall in exports has raised concerns about the country’s BoP outlook.

He added that strong remittance inflows have provided a key support. Remittance earnings rose sharply, bringing in $9 billion more in FY2025 than in FY2022.

However, Ahmed warned that foreign exchange reserves may fall in the second half of FY26 because of weaker exports and rising imports. Still, unless there is a major policy setback or a prolonged Iran war, reserves are expected to stabilise at around $30 billion.

He added that declining exports, rising external debt and debt servicing, and the Iran war raise questions about the sustainability of the current BoP position.

To address these risks, Ahmed recommended diversifying exports, saying double-digit export growth will not be possible without it.

“One key requirement is flexible exchange rate management that avoids appreciation of the real effective exchange rate,” he added.

His second priority was removing anti-export biases in trade policy and improving the country’s investment climate.

The US dollar rose across the board on Friday, set ​for a second straight weekly gain, as the war in the Middle East drove investors toward safe-haven assets and weighed on ‌energy-sensitive currencies such as the euro.

President Donald Trump said the US was going to be hitting Iran “very hard over the next week”, shortly after issuing a partial 30-day waiver for purchases of sanctioned Russian oil, hoping to ease prices fuelled by the US-Israeli war on Iran.

A sharp and prolonged rise in oil prices would severely hurt the economies of Japan and ​the euro zone, which are heavily reliant on crude imports, while the United States would be relatively insulated, having been a net crude ​exporter for almost a decade.

“Global investors are unwinding cross-border exposures, pushing money into safe havens, and punishing currencies issued by net energy importers,” said Karl Schamotta, chief market strategist at Corpay in Toronto.

The euro was 0.6 percent lower against the dollar at $1.14395. The dollar index , ​which measures the greenback’s strength against a basket of currencies, was up 0.7 percent at 100.35. The index is up 1.5 percent for the week.

Schamotta, however, warned that ​FX markets face two-way risks.

“As the war drags on, both Tehran and Washington have strong motivations for returning to the negotiating table and there are good reasons to suspect they could strike a face-saving bargain as soon as this weekend,” said Schamotta.

Goldman Sachs raised its Brent, WTI crude oil price forecasts for the fourth quarter of 2026 to $71/67 per barrel from $66/62 as it sees longer ​disruption to oil flows in the Strait of Hormuz due to ‌the US-Israeli war on Iran.

Brent prices have gained more than 36 percent since the war began on February 28, while WTI has risen about 39 percent. Both benchmarks briefly topped $119 on ​Monday, their highest levels since mid‑2022.

The fighting has effectively shut the ​Strait of Hormuz, leaving tankers stranded for more than a week and forcing producers to suspend output as storage nears capacity.

Goldman analysts in ​a note on Thursday said they now assume 21 days of low Strait ​of Hormuz (SoH) oil flows at 10 percent of normal levels followed by a 30-day gradual recovery, compared with their earlier expectation of a 10-day disruption.

The bank also said that daily ​oil prices are likely to exceed their 2008 peak if SoH flows ​remain depressed through March.

Goldman incorporated a larger policy response in its models, wherein 254 million barrels ‌of ⁠actual global special petroleum reserve (SPR) releases and 31mb of draws in Russian crude would reduce the hit to global commercial oil inventories by nearly 50 percent.

The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from ​strategic stockpiles to combat ​a spike in ⁠global crude prices since the start of the war, with the US contributing the bulk of the supply.

In Goldman’s base case ​where Strait of Hormuz flows start recovering March 21 onwards, ​it assumes ⁠IEA member states won’t fully release the 400 million barrels available.

This is because the bank assumes a logistical limit of 3 million barrels per day on draws from ⁠the ​Organisation for Economic Co-operation and Development (OECD) SPR and ​a four-week phase-out of releases through early June when WTI prices are expected to moderate to ​the low $70s.

The Office of the United States Trade Representative (USTR) has opened investigations into the manufacturing sectors of 16 economies, including Bangladesh, over concerns of structural excess capacity and production under Section 301 of the Trade Act of 1974.

According to a Federal Register notice, Bangladesh faces scrutiny over government-provided cash incentives for export sectors, which the USTR says have contributed to a $6.15 billion bilateral goods trade surplus with the United States.

Bangladesh ships more than $8 billion worth of goods to the US each year, with ready-made garments making up the bulk of exports. The government offers cash incentives across 43 sectors, including textiles and leather products.

The notice also singled out Bangladesh's cement industry, claiming it is operating well below its production capacity. In 2024, national cement consumption fell to 38 million tonnes, less than 40% of production capacity, and is expected to decline further in 2025.

US Trade Representative Jamieson Greer said the investigation will examine whether the policies of these economies are "unreasonable or discriminatory" and whether they burden or restrict US commerce. "The United States will no longer sacrifice its industrial base to other countries exporting their problems with excess capacity," Greer added.

Other economies under review include China, the European Union, India, Vietnam, Indonesia, Malaysia, Thailand, Cambodia, South Korea, Japan, Mexico, Singapore, Switzerland, Norway, and Taiwan.

Cash incentive payments will no longer be kept pending, governor tells garment exporters

Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), described Bangladesh's inclusion in the investigation as "uncomfortable" and "without logical basis".

"If such allegations are proven, they may impose additional tariffs," he said.

"Export incentives in Bangladesh are minimal," Mahmud said, adding that while questions might arise about agricultural subsidies, the US itself heavily subsidises its farmers, whereas Bangladesh primarily subsidises fertilisers.

Mostafa Abid Khan, former member of the Bangladesh Trade and Tariff Commission, told The Business Standard, "The incentives fall within the WTO policy. I do not think the level of support encourages overcapacity, though production levels may be questioned."

The USTR has requested consultations with Bangladesh and other countries under review. A public comment docket opens on 17 March, with a hearing scheduled for 5 May, allowing stakeholders to submit written comments and testify.

Crisis-hit People's Leasing and Financial Services Ltd (PLFS), a non-bank financial institution (NBFI), has formally sought a financial stimulus of Tk 7.50 billion from the government to complete its restructuring process and resume full-scale operations.

In a letter sent to the Ministry of Finance, the company outlined a comprehensive 'revival plan' aimed at safeguarding depositors' interests and restoring confidence in the troubled NBFI sector, according to sources.

The company said the proposed financial support would help bridge the gap between its recoverable assets and outstanding liabilities, enabling it to complete the court-supervised reconstruction process.

People's Leasing has been embroiled in a severe liquidity crisis and financial irregularities during the 2003-2014 period, which eventually prompted the High Court to order its liquidation.

However, in July 2021, the apex court stayed the liquidation order, and constituted a new board of directors to facilitate the company's restructuring under judicial supervision.

Since then, the new management claims to have made notable progress in stabilising the troubled lender.

According to the company, approximately Tk 2.0 billion has been recovered from defaulting borrowers since July 2021, and around Tk 840 million has already been repaid to nearly 1,900 depositors.

As part of cost-cutting measures, the company shifted its head office to a self-owned floor in Purana Paltan, saving nearly Tk 1.0 million per month in rent

It has also cleared a backlog by holding seven pending annual general meetings covering the years 2019 through 2025 to ensure regulatory compliance.

To complete the turnaround process, People's Leasing has proposed several restructuring measures alongside the government support. The measures include converting existing liabilities into interest-free principal payments over a specified period, exploring the conversion of depositor claims into company equity, and restarting SME and collateral-based lending to generate fresh revenue.

The company has also proposed confiscating shares held by former directors allegedly involved in past financial irregularities, and reissuing them to new investors.

In the letter, PLFS Managing Director Md Sagir Hossain Khan said the primary objective of the revival efforts is to ensure protection of public deposits under the supervision of the High Court and the Bangladesh Bank.Bangladesh market research

"To transform the institution into a profitable and functional entity in the public interest, a financial assistance of approximately Tk 7.50 billion is essential," the letter reads.

If the proposed stimulus is provided, the company plans to normalise its operations by 2026, including maintaining the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR) with the central bank, signalling a return to regular financial activities.

Bangladesh's fruit imports more than doubled this fiscal year, yet prices have remained stubbornly high this Ramadan, keeping many popular items out of reach for low- and middle-income consumers.

At Chattogram's fruit markets, wholesale prices of fruits are Tk10-Tk30 per kilogram higher than before Ramadan, while retail prices have risen by Tk50-Tk150, limiting the benefits of higher imports.

Traders blame strong demand during Ramadan and excessive duty-tax burdens for soaring fruit prices, while consumers point to market manipulation and weak oversight.

Data from the Plant Quarantine Station at Chattogram Port shows that in the first seven months of FY25, fruit imports stood at 221,327 tonnes. During the same period in FY26, imports rose to 558,020 tonnes. Imported varieties included apples, oranges, grapes, pears, malta, pineapples, pomelo, guava, and dates.

However, enquiries at Chattogram's major wholesale fruit market, Folmondi, reveal that although prices of different imported fruits fluctuate, overall rates remain higher than before Ramadan.

Abdul Hamid, a buyer from Hamzar Bagh, said his children want fruits during Ramadan.

However, buying just one kilogram of good-quality grapes now costs Tk400 to Tk500. Unable to afford all types of fruits together, he buys smaller quantities than before.

Rakib Uddin, a retailer at Riazuddin Bazaar, justified the price difference, saying wholesale prices are already high. He added that transport costs, shop rents, and workers' wages further increase retail prices.

He also noted that fruits cannot be stored for long and carry the risk of spoilage, forcing traders to sell with limited profit margins.

More imports

Fruits are imported from various countries, with the majority entering through Chattogram Port, from where they are distributed across the country. Some imports also arrive via land ports.

Bangladesh imports fruits from India, China, Thailand, Bhutan, Egypt, Brazil, Tunisia, Portugal, New Zealand, Afghanistan, South Africa, and France. Different varieties of dates are imported from Saudi Arabia and other Middle Eastern countries.

According to the Plant Quarantine Station, imports of apples, oranges, and grapes through the port totalled 244,055 tonnes in the first seven months of FY26.

During the same period of the previous fiscal year, imports of these three fruits stood at 174,747 tonnes, an increase of nearly 70,000 tonnes within a year.

High fruit prices

A 15-kg carton of malta was selling for Tk3,400 to Tk3,600 at Folmondi. A 20-kg carton of Chinese apples was priced between Tk3,800 and Tk4,000, while local apples sold for Tk5,500 to Tk5,700 per 20-kg carton.

White grapes were being sold at Tk2,500 to Tk2,800 per 10-kg carton, and black grapes at Tk3,800 to Tk4,300 per 10-kg carton. An 8.5-kg carton of oranges fetched Tk1,700 to Tk1,900.

On-site visits show that retail fruit prices in the city have risen significantly compared with pre-Ramadan levels. Pomegranates, once sold at about Tk450 per kilogram, are now Tk550.

Chinese oranges, previously Tk250 to Tk300, now retail around Tk350 per kilogram. Malta, once Tk300, is now about Tk350. Apples, earlier around Tk300 per kilogram, are now Tk350 to Tk400.

Pears have increased from Tk400 to Tk450–Tk500 per kilogram. Black grapes, once Tk400, now cost Tk550 to Tk600 per kilogram.

'Prices rise with demand'

Muhammad Touhidul Alam, general secretary of the Chattogram Fruit Traders' Association, said many traders rush into imports after hearing about profits, but later incur losses and leave the business.

He added that syndicates cannot form in markets dealing with perishable goods. According to him, prices rise when demand exceeds imports and fall when demand is lower.

Other traders said international prices, dollar exchange rates, and the tariff-tax structure directly influence fruit prices. Besides, the exchange rate rose, increasing import costs and affecting market prices.

Duties on fruit import

Total duties on fruit imports were 89.32% in FY22. But, over the past three years, the total tax incidence on fruit imports rose to about 116%.

A report by the Bangladesh Tariff Commission states that under the Essential Commodities Act of 1956, fresh fruits are considered essential goods, not luxury items.

The commission recommended reducing the supplementary duty from 30% to 20%, cutting advance tax from 10% to 2%, and abolishing the 20% regulatory duty and 5% advance income tax. Later, the NBR reduced the supplementary duty from 30% to 25% and fully waived the 5% advance tax at the import stage.

Touhidul Alam said that even after some duty reductions, importers still pay Tk120-Tk136 in duties for fruits valued at Tk100, depending on the type.

Duties should be further reduced to Tk30-Tk40 to bring most fruit prices below Tk200, he said. "This would allow middle- and lower-middle-income people to afford fruits."

SM Nazer Hossain, vice president of the Consumers Association of Bangladesh (CAB), told TBS that chaos in the fruit market shows no sign of stopping.

"No matter how much fruit is imported or how much duties are reduced, the impact on prices is minimal because the market operates almost entirely without oversight," he said.

He added that Importers bring in goods under lower-duty categories but sell them as higher-duty products, misleading consumers, especially during Ramadan.

"The NBR must clarify which duties apply to which fruits and ensure regular monitoring. Otherwise, it will remain impossible for ordinary people to afford fruit," he said.

Gold prices slipped on Friday and were on track for a second ‌consecutive weekly decline, pressured by a stronger dollar and inflation worries driven by the Iran war, which weighed on rate‑cut expectations.

Spot gold fell 0.5 percent to $5,052.15 per ounce, by 1:44 p.m. ET (1744 GMT), ​and was down over 2 percent for the week so far.

US gold futures for ​April delivery settled 1.3 percent lower at $5,061.70.

The reciprocal trade deal signed by the interim government with the United States limits Bangladesh’s ability to make independent decisions, economist Mustafizur Rahman said yesterday.

He made the remarks at a discussion titled “Unfair Trade Deal with the United States: A Threat to Bangladesh’s Economy, Security, and Sovereignty”, organised by the Communist Party of Bangladesh (CPB) at the Dhaka Reporters Unity.

Rahman, a distinguished fellow at the Centre for Policy Dialogue (CPD), said the deal increases tariffs from 15 percent to 34 percent and forces Bangladesh to buy large quantities of US products, including defence equipment and Boeing planes, according to a press release.

“This deal limits our ability to make independent decisions and threatens our economy, security, and sovereignty,” he said.

MM Akash, a former professor of economics at Dhaka University, said, “This agreement was rushed and lacks transparency. Only a few people were involved, and it clearly favours US interests over Bangladesh.”

CPB President Sazzad Jahir Chandon called the deal a serious threat to the country, saying, “It must be cancelled immediately, and those responsible must face punishment.”

CPB former general secretary Ruhin Hossain Prince said the deal essentially protects US interests and forces Bangladesh into a state of dependency.

“The government must make all agreements public, and the people must oppose any actions that serve foreign powers over national interests,” he said.

CPB Dhaka North President Hasan Hafizur Rahman Sohel said those who signed the deal against the interests of Bangladesh must be held responsible.

The ongoing conflict in the Middle East and resulting airspace closures have disrupted flights across the region, affecting airlines operating routes between Bangladesh and Gulf countries.

As cancellations continue, carriers say they are losing a large number of passengers each day, leading to mounting revenue losses.

Airlines operating Middle Eastern routes say the cancellations have already translated into steep revenue losses.

Kamrul Islam, general manager (public relations) at US-Bangla Airlines, said the carrier is losing hundreds of return passengers each day due to reduced operations.

"We are losing about 600-700 passengers daily who would normally return from the Middle East," Kamrul told The Business Standard.

With the average one-way airfare at roughly Tk50,000, the airline is losing a substantial amount of revenue each day.

Since the crisis began, about 30 of the airline's Middle East-bound flights have been cancelled. The total financial loss is yet to be calculated as refunds and rescheduling continue.

Before the disruptions, US-Bangla operated multiple flights to Dubai, Abu Dhabi and Sharjah. Flights to Sharjah and Abu Dhabi remain suspended, while services to Qatar have also been halted.

The airline has announced plans to resume Sharjah flights on 13 April and Abu Dhabi flights on 14 April.

Before the crisis, airports in Dubai, Abu Dhabi and Doha served as major global crossroads.

Nearly 300,000 passengers pass through one of these hubs daily, about two-thirds of whom are transit travellers, according to a report published by The Guardian on 7 March.

When airspace closures disrupted flights through these hubs, the effects spread across the global aviation network, stranding travellers and forcing many to cancel trips.

The impact is particularly pronounced for Bangladesh, where a large share of international travellers rely on Gulf carriers such as Emirates, Qatar Airways, Etihad Airways and Saudia for onward connections.

Bangladeshi apparels are fetching over 10 percent higher prices in European markets on average compared to the United States, even for similar products, according to a recent study by the Research and Policy Integration for Development (RAPID).

The study, unveiled yesterday by the local think tank in Dhaka, links the price gap to differences in tariff structures and trade preferences, with exporters benefiting from lower tariffs in Europe while facing higher barriers in the US.

RAPID said the research was based on transaction data from nearly 3,000 exporting firms collected by the customs department of the National Board of Revenue between 2010 and 2023.

It found that about 45 percent of these garment factories export to both the US and EU markets. For major products, prices in the EU consistently exceed those in the US.

On average, leading exporters fetch 5-18 percent higher prices in the EU than the US for major 10 apparel products, it states. T-shirts, for instance, earn 20-27 percent higher prices in Germany than in the US, while trousers fetch 9-15 percent more.

Presenting the findings, Jillur Rahman, deputy director at RAPID and lecturer in development studies at Dhaka University, said, “The gap remains significant even after accounting for product type, firm size, and technological intensity.”

He also highlighted differences in pricing strategies across preferential and non-preferential markets.

“High US tariffs compel exporters to absorb a significant share of the tax burden within their own margins to remain competitive at the border,” Rahman noted.

“The findings are particularly important as Bangladesh prepares to graduate from the least developed country (LDC) category,” he added.

Currently, duty-free access to the EU helps exporters secure better prices. But once Bangladesh graduates, some of these trade preferences may gradually erode, he said.

“The industry will need to strengthen competitiveness by improving product quality, diversifying into higher-value apparel segments and enhancing technological capabilities,” he noted.

Without such upgrades, he said exporters may face growing pressure on prices and margins in global markets, especially in destinations where Bangladesh lacks preferential trade access.

Abdur Rahim Khan, additional secretary of the Ministry of Commerce, said in the past 50 years, the country has failed to develop alternative markets or product competition, and now needed export-driven investment

“If we graduate from LDC status without proper preparation and preferential market access, it will deal a major blow to both the country’s economy and social structure,” he added.

Doulot Akter Mala, president of the Economic Reporters Forum, added, “The biggest problem of our ready-made garments industry is that we have put all our eggs in one basket. Lack of diversification in products and markets makes us vulnerable whenever instability arises in the US or European markets.”

Md Hafizur Rahman, adviser on trade policy and trade facilitation at the World Bank, said, “Bangladesh needs to move from being a low-cost or low-price brand to a high-price brand. This will increase pricing power and competitiveness in international markets.”

Bangladesh's construction materials market is facing rising prices, with the cost of key inputs such as steel rods and cement increasing sharply in recent days.

Over the past 10 days, steel rod prices have risen by up to Tk10,000 per tonne, while cement prices have increased by Tk20-25 per bag, according to market data.

Industry players say higher import costs – particularly for scrap and freight – driven partly by tensions in the Middle East, along with a gradual increase in construction activity after the national election are pushing prices upward.

Rod prices climb sharply

According to market sources, 75-grade mild steel rods are selling at Tk90,000 to Tk95,000 per tonne at the mill gate level. Ten days earlier, the same grade was priced between Tk80,000 and Tk83,000 per tonne.

Among major brands, BSRM rods are selling at around Tk95,000 per tonne, KSRM at Tk91,000, GPH at Tk92,000 and AKS at about Tk92,500.

Steel, rod get costlier

Prices of 60-grade rods have also risen significantly. They have increased by around Tk9,000 per tonne within 10 days and are now selling between Tk87,000 and Tk88,500.

Brands such as HM Steel, BSL and ZSRM are selling at around Tk89,000 per tonne, while Al-Aksa, Montaha, Kadamtali, DSRM and JSRM are priced around Tk88,000. Fresh, IRML and HKG rods are selling at approximately Tk87,000 per tonne.

The four dominant brands in the local market – BSRM, Abul Khair Steel (AKS), GPH and KSRM – have all raised prices significantly since tensions escalated in the Middle East.

Before the conflict, their rods were priced between Tk81,000 and Tk85,000 per tonne. Most of these brands have since increased prices by roughly Tk8,000 to Tk10,000 per tonne, while medium-range brands have also raised prices significantly over the same period.

Sudip Ghose, owner of Prime Steel, a rod dealer in Chattogram's Madarbari area, said prices began rising soon after tensions escalated in the Middle East.

"Large brands have raised rod prices by about Tk10,000 per tonne in the past 10 days," he said.

Cement prices also rise

Cement prices have also increased after remaining largely stable for months.

Mohammad Shahjahan, an agent of Confidence Cement's Rajmistri Green brand, said almost all cement brands raised prices by Tk20-25 per bag within the past three days.

Market sources say Ruby Cement is selling at around Tk520 per bag, while Confidence and Diamond brands are priced at Tk500. Royal Cement is selling at Tk495, Seven Rings at Tk490, Rajmistri at Tk480 and Premier Cement at Tk475.

Petrobangla seeks up to Tk26,000cr extra subsidy to keep gas flowing

Industry officials say cement producers were forced to sell below production cost for nearly a year and a half due to weak demand in the construction sector.

Mohammad Amirul Haque, managing director of Premier Cement Mills PLC and president of the Bangladesh Cement Manufacturers Association (BCMA), said the latest price adjustments have helped partially align market prices with production costs.

"For nearly one and a half years, we had to sell cement below production cost because of the stagnant market," he said. "The recent increase has allowed some commercial adjustment between costs and selling prices."

Raw material and freight costs behind the hike

Industry leaders attribute the recent price increases to a combination of stronger domestic demand and rising import costs.

Bangladesh depends heavily on imported raw materials for both steel and cement production. The Middle East conflict has pushed up global fuel prices, which in turn raised shipping costs.

As a result, the cost of importing steel scrap – the primary raw material for rod manufacturing – and clinker, the key ingredient for cement, has increased.

Iran says ceasefire depends on US and Israel promising no future attacks

BCMA President Amirul Haque said clinker booking prices in the international market have risen significantly.

"Import costs have increased due to higher freight costs, so we had to adjust cement prices accordingly," he said.

Scrap prices and supply pressure

Steel producers say global scrap prices have also increased sharply.

The cost of imported scrap has risen by about $50 per tonne, or roughly Tk6,000. Although shipments at the higher prices have not yet reached Bangladesh, the impact is already visible in the domestic market.

Prices of scrap from Bangladesh's shipbreaking industry – another major source of raw materials – have climbed by around Tk3,000 per tonne, reaching about Tk58,000, according to market data.

Shipping costs have also increased substantially. The cost of importing scrap to Chattogram, including freight, has increased from about $360 per tonne to roughly $410 per tonne.

Iftekhar Ahmed, country head of Singapore-based scrap exporter Jaguar Resources and Capital, said freight costs surged sharply after tensions in the Middle East intensified.

"Scrap prices were already rising somewhat before the conflict," he said. "But shipping costs increased abnormally after the situation escalated, forcing suppliers to reconsider new offers."

Govt seeks energy assistance from India amid Middle East war

Mohammed Jahangir Alam, president of the Bangladesh Steel Manufacturers Association and chairman of GPH Ispat Limited, said many companies had been selling rods below production cost for a long time due to weak demand.

"The ongoing conflict in the Middle East has pushed up global fuel prices, shipping costs and the price of scrap – the main raw material used in rod production. At the same time, the dollar has been strengthening," he said.

"To cope with these additional costs, rod prices have been adjusted," he added.

Factories restart as demand rebounds

Industry insiders say the construction sector had remained sluggish for more than a year and a half, largely due to political uncertainty that slowed both government and private projects.

At one point, rod demand fell by nearly 50%, forcing several steel plants to halt operations.

In Chattogram alone, factories such as Golden Ispat, Baizid Steel, Sheema Steel, Sitalpur Steel and SS Steel had suspended production for extended periods.

Stocks surge as war-driven demand boosts global defence firms

However, industry players say the situation has begun to improve following the election.

Mohammad Sarwar Alam, director of HM Steel, said sales of MS rods have increased over the past two weeks as political stability returned after the election.

"Factories that had been operating at a loss are now seeing some relief," he said.

LafargeHolcim Bangladesh PLC reported a strong financial performance in 2025, posting a 34% year-on-year rise in profit driven by higher sales, premium product demand and steady growth in its aggregates business despite a slowdown in the construction sector.

According to the company's price-sensitive disclosure and press release issued on 11 March, the multinational cement maker recorded a net profit of Tk510 crore for the year, up from Tk382 crore in 2024. Revenue also increased by 6% to Tk2,931 crore from Tk2,754 crore a year earlier, while operating profit grew 11% to Tk655 crore from Tk587 crore.

The company said the growth came amid steady business momentum and stronger customer engagement, even as the broader construction industry faced headwinds due to reduced public sector spending and tighter private credit conditions.

Reflecting the improved profitability, LafargeHolcim recommended a total 40% cash dividend for shareholders for the year 2025. The payout includes an 18% interim cash dividend already distributed earlier in the year and a proposed 22% final cash dividend. The total dividend amounts to roughly Tk465 crore, equivalent to 40% of the company's paid-up capital.

The dividend proposal will be placed for approval at the company's annual general meeting scheduled for 13 May, while the record date to determine eligible shareholders has been set for 9 April.

Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh, said the company managed to deliver strong results despite challenging market conditions.

"In 2025, the broader construction industry faced headwinds from subdued public sector investment and constrained private credit growth. Yet, LafargeHolcim Bangladesh delivered a strong performance," he said.

He added that the company achieved volume growth in both the cement and aggregates segments, reflecting strong customer confidence in its products and services.

According to Chowdhury, the company's focus on innovation has also contributed to business expansion. Specialised cement products such as "Water Protect" and "Fair Face" registered significant growth during the year, indicating strong consumer preference for premium solutions.

Alongside its commercial success, the company also continued its sustainability initiatives. Through its Geocycle platform, LafargeHolcim co-processed more than 45,000 tonnes of non-recyclable materials in 2025 and replaced around 11% of fossil fuel consumption with alternative fuels.

Chowdhury said the company also faced profitability pressures from rising energy costs and market volatility but addressed these challenges through cost-efficiency measures and strategic pricing adjustments.

The company began in 2026 with the launch of new specialised cement products, including "Holcim Coastal Guard" designed for coastal construction projects and "Powercrete" targeted at the ready-mix concrete segment.

These innovations are aimed at meeting specialised customer needs while strengthening the company's competitive position in Bangladesh's construction materials market.

In terms of market performance, LafargeHolcim shares recently closed at Tk50.60 on the Dhaka Stock Exchange (DSE), down 0.59% from the previous trading session. The company's market capitalisation currently stands at around Tk5,877 crore.

As of February, sponsors and directors held 63.39% of the company's shares, while institutional investors owned 22.09%. Foreign investors accounted for 0.80% of the shareholding, with the remaining 13.72% held by general public investors.

LafargeHolcim Bangladesh, listed on the DSE in 2003 as a greenfield investment, is one of the country's leading building materials producers. The company has invested nearly $500 million in Bangladesh, representing one of the largest foreign direct investments in the cement sector.

The investment enabled the establishment of a fully integrated cement plant along with three grinding stations, strengthening the company's production capacity and supply chain.

The company operates as a joint venture between Switzerland-based Holcim Group and Spain-based Cementos Molins. Leveraging advanced technology and skilled professionals, the company produces a wide range of cement and building material solutions for infrastructure and real estate projects.

Looking ahead, the company said it is focusing on several strategic priorities to sustain profitability in the coming quarters. These include improving operational efficiency, investing in a lower-cost energy mix through alternative fuels, diversifying the product portfolio and strengthening pricing strategies.

At the same time, LafargeHolcim is continuing investments in sustainability initiatives and digital transformation to enhance productivity and reinforce its long-term market leadership in Bangladesh's building materials industry.

Bangladesh’s processed food exports to key Middle Eastern markets have come to a standstill as disruptions in the Strait of Hormuz caused by the US-Israeli war on Iran have halted shipments, leaving containers stranded and exporters fearing mounting financial losses.

Containers loaded with snacks, spices and other food products are either stranded or unable to be shipped. Companies warn that prolonged disruptions could affect cash flow, inventory management and profitability.

Bangladesh exports a wide range of products to the Middle East, industry insiders say, including beverage items, spices, biscuits, puffed rice, chanachur (Bombay mix), noodles, mustard oil, and other snacks.

The companies’ major markets in the region include Saudi Arabia, the United Arab Emirates, Oman, Qatar, Kuwait and Bahrain.

Exports of Square Food & Beverage Ltd to the Middle East have been disrupted since the conflict began, leaving several containers stranded and causing financial losses, said Md Parvez Saiful Islam, chief executive officer (CEO) of the company.

“The crisis in the Middle East started on February 28. From March 1, all the containers that we had handed over to freight forwarders for shipment got stuck,” Islam told The Daily Star.

According to him, around 11 containers of the company’s products are currently unable to be shipped.

“If the containers cannot be shipped, we may eventually have to bring the goods back. Since the products are already packed and loaded, storage and other charges will keep increasing,” he said.

The company is now in discussions with shipping lines to determine whether the containers will be shipped or returned.

The inability to fulfil export orders is the main problem, he said.

Square Food & Beverage exports products such as spices, chanachur and mustard oil to Middle Eastern markets.

The stranded consignments alone are worth about $800,000, he added.

Some export shipments of Pran-RFL Group to Middle Eastern markets have been caught in transit, while others could not be shipped due to uncertainty surrounding maritime routes, said Kamruzzaman Kamal, marketing director of the company.

According to him, some of the company’s goods are currently at Chattogram port, while others have already reached a Sri Lankan transhipment port from where they were supposed to move through the Strait towards Gulf markets.

“Our feeder vessels carry the containers to those ports, and from there the cargo is loaded onto mother vessels for onward shipment,” Kamal said.

However, shipments moving through that route are now facing uncertainty. “So those goods have not yet moved forward,” he added. Kamal cautioned that the disruption could lead to business losses if it continues for long.

Bombay Sweets has also halted exports to its main Middle Eastern markets since tensions first emerged, said Khurshid Ahmad Farhad, general manager of the company.

“We have not been able to export goods worth even a single taka this month,” Farhad told The Daily Star.

“We halted shipments on the very first day the tensions started. None of our containers remains stuck because we did not release them from the factory.”

However, he said many exporters who had already shipped goods are now facing difficulties at Chattogram port.

“Some containers are stuck at the port. In some cases, shipping lines are charging demurrage. In other cases, goods are being stored at depots and accumulating additional charges,” he added.

Farhad said those who shipped goods without calculating the risks are now facing the biggest problems.

Referring to export data from the Export Promotion Bureau, he estimated Bangladesh’s processed food exports to the Middle East at $40 million to $45 million annually. The entire agriculture sector fetched around $65.24 million in the last fiscal year.

Farhad also noted the large value difference between products.

“For example, a container of spices may be worth about $100,000, while a container of chips may be worth only around $5,000,” he said.

Quamrul Hassan, chief business officer of ACI Consumer Brands, said the disruption in the Strait of Hormuz has effectively halted exports to several Gulf markets.

“If the Strait of Hormuz is closed, it naturally affects markets like Dubai, Qatar and Kuwait. Most shipments to those countries pass through that route,” Hassan told The Daily Star.

ACI exports products such as biscuits, puffed rice and flattened rice to the region, which sell well during Ramadan.

“Right now, no one is able to send shipments,” he said.

Exports to the region are usually based on advance orders placed by importers.

“When exports stop, sales stop. And when sales stop, losses increase,” Hassan added.

He said exporters are also facing pressure on inventory, cash flow and profitability as goods prepared for export cannot be shipped.

The US dollar exchange rate against the taka held almost flat through late February before beginning a slow, gradual climb into March.

The shift in the curve comes as taka started to weaken with the beginning of the US-Israel’s war against Iran in March and the subsequent conflicts across the Middle East, mainly because cautious banks began trading the greenback among themselves at higher rates.

This latest fall of taka has revived memories of the 2022-23 currency stress.

At that period, heavy import bills, rising global commodity prices amid the Russia-Ukraine war, and slower remittance inflows and export earnings coincided with a rapidly depleting foreign currency reserve.

This time, however, the forex reserve stands at a much more comfortable level and dollar flow to the local market remains almost normal. But banks have shifted into a cautious mode triggered by the war in the Middle East.

The commercial lenders fear a prolonged war could again push up import bills, while a large share of expatriate Bangladeshis in the Gulf might send less money home.

“Many banks have taken a cautious approach due to the uncertainty ahead,” said Mati ul Hasan, managing director of Mercantile Bank. “However, the real impact will be understood after about a week.”

Yesterday, the weighted average interbank exchange rate stood at Tk 122.69 per dollar, up from Tk 122.58 a day earlier, according to the Bangladesh Bank (BB).

The rate was Tk 122.49 on Monday and Tk 122.43 on Sunday, according to BB data.

A top official of an import-dependent industrial group based in Chattogram told The Daily Star that banks have not yet faced a real shortage of US dollars, but some are “trying to create an artificial crisis”.

He said banks are demanding between Tk 122.90 and Tk 123 per dollar when opening letters of credit (LCs). The rate is even higher in the case of forward sales, he added.

A forward dollar sale is a binding contract to sell dollars at a fixed price on a future date, regardless of the market rate at that time.

Yesterday, state-run Sonali Bank quoted Tk 122.75 per dollar for spot selling, while its spot buying rate ranged between Tk 121.68 and Tk 121.80. Private commercial BRAC Bank quoted Tk 122.95 per dollar for selling and Tk 121.95 for buying.

Dhaka Bank quoted Tk 122.99 per dollar for bills for collection selling and Tk 121.50 for buying yesterday. Mercantile Bank offered the dollar at Tk 122.90 for selling and Tk 121.60 for buying.

Mercantile Bank MD Hasan said that since the flow of dollars had been strong for quite some time and the market remained liquid, banks had not worried much about making payments.

However, they now need to plan ahead because of rising uncertainty, he said, adding that dollar inflows are not evenly distributed across banks, which may prompt some lenders to slightly raise their rates.

“Still, the situation has not become very unstable yet. Conditions could deteriorate if the war continues for long,” said Hasan.

Meanwhile, BB officials said the central bank has stopped intervening in the market, meaning it is no longer supplying dollars from its stocks to support the taka. As a result, the currency has started to weaken.

They also noted that fuel prices in the international market have risen sharply, which could push up import costs and lead to volatility in the foreign exchange market in the coming days.

Considering that potential impact, BB has also stopped purchasing US dollars from the market, they added.

The central bank bought more than $5 billion from the foreign exchange market in FY26 as of March 2. The purchases helped lift the country’s foreign exchange reserve.

Forex reserve stood at $34 billion as of Sunday, according to BB. However, the reserve stood at $29.38 billion based on the IMF calculation.

Between FY21 and FY25, BB sold more than $25 billion from its reserve to meet import payments for fuel, fertiliser and food.

After the war broke out, the new BB governor hinted that the regulator could provide dollar support from the reserve to import fuel if needed, officials said. But leading economists at a meeting last week advised the governor to remain cautious about spending from the reserve as tensions in the Middle East could trigger fresh economic shocks.

They said rising global fuel prices linked to the crisis could increase the country’s import bill and eventually put pressure on the foreign exchange reserve.

The economists urged the central bank to explore alternative funding sources to settle fuel import payments instead of depending on the reserve.

M Masrur Reaz, chairman and chief executive officer of Policy Exchange Bangladesh, a private sector economic and investment advisory platform, was among the economists who met the governor.

He told The Daily Star yesterday that the situation could deteriorate sharply if the Middle East war lasts for a month.

Liquefied natural gas (LNG) and fuel prices have already increased significantly, he said, adding that this will push up import costs in the coming days.

“Due to this possibility, the price of the US dollar is also rising. It may increase further in the future because higher import costs will put additional pressure on foreign currency.”

Reaz said the current fuel rationing should continue. Besides, the government needs to estimate how much fuel will be required and what the cost will be over the next six months and one year, he said.

Based on that assessment, loans could be sought from the Asian Development Bank (ADB) or other multilateral lenders, said the economist. “The borrowed funds should be used to import fuel. In addition, projects that are currently stalled should be restarted quickly so that foreign funding can flow into the country.”

Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters ‌review of tanker tracking data showed.

Iran has exported about 13.7 million barrels of crude oil since Israel and the US launched attacks on the country on 28 February, according to analysis from TankerTrackers.com, a maritime intelligence company that specializes in tracking the so-called shadow fleet, a network of vessels used to transport oil and gas from countries under Western sanctions.

Vessel tracking service Kpler pegged Iranian exports in the first 11 days of March even higher at about 16.5 million barrels.

Iran's retaliation to the Israeli and US attacks has included strikes on ships in the Strait of Hormuz and energy infrastructure across the Middle East, bringing non-Iranian vessel transits through the main gateway for ⁠much of Middle Eastern oil exports to a near standstill and forcing producers in the region to cut output.

Ran's ability to keep exporting oil without any reported interceptions contrasts sharply with what happened during the US military campaign in Venezuela, which involved a naval blockade of the Latin American nation and seizures of vessels attempting to enter or exit Venezuelan waters.

"I'm surprised, given their successful seizures of Venezuela-related vessels this past December, that the US did not initiate a similar campaign prior to starting this conflict, or has not done so at this time," said David Tannenbaum, a director at consulting firm Blackstone Compliance Services.

However, US efforts to stop Iran-linked tankers could unleash more attacks on vessels passing the Strait of Hormuz, Next Barrel oil and shipping analyst Matias Togni said.

So long as Iran is moving its vessels through the region, Iran has an incentive to keep the Strait of Hormuz open at least to some degree, said James Lightbourn, shipping financier and founder of Cavalier Shipping, maritime investing and advisory business.

"If the US were seizing tankers, it would give Iran less ‌to lose ⁠by shutting the strait entirely (such as with mines)," Lightbourn said.

US President Donald Trump's White House did not immediately reply to a request for comment on whether Washington plans any actions against Iranian oil exports.

Iranian exports at pace similar to last year

The TankerTracker.com and Kpler data indicate Iran's crude oil exports equate to between 1.1 million barrels per day and 1.5 million bpd from 28 February through 11 March. The country's average exports last year were 1.69 million bpd, according to Kpler records.

The pace could pick up In the days ahead. Multiple very large crude carriers, the largest oil vessels in service, ⁠are still loading oil at Iran's Kharg Island export hub, according to satellite imagery reviewed by TankerTrackers.com.

Prior to the February 28 strikes, Iran had ramped up exports to about 2.17 million bpd in February in anticipation of Israeli-US military action, Kpler data showed. Record oil exports from Iran were about 3.79 million bpd in the week of February 16, the data showed.

Six crude oil tankers have left ⁠Iran since 28 February, including the US-sanctioned vessel Cuma, which sailed this week, according to analysis from Kpler and Lloyd's List Intelligence. Two liquefied petroleum gas tankers, also under US sanctions, sailed out of Iranon Friday after loading cargoes, Reuters earlier reported.

At least 11 million barrels of crude oil have been shipped out of Iran, with four supertankers that left Iran ⁠carrying 8 million barrels arriving in waters around Singapore, a separate analysis showed.

The vessels follow the same pattern of sailing within Iran's exclusive economic zone, which extends up to 24 miles and beyond local territorial limits of 12 nautical miles.

This is seen as providing the vessels with a measure of protection by keeping them within Iran's waters, shipping sources said.

Paramount Textile, a listed textile firm, has reported that its consolidated profit in the second quarter of the current fiscal year fell by 19% year-on-year due to a decline in revenue.

During the October-December period, its consolidated profit declined to Tk20.77 with an earnings per share (EPS) of Tk1.16.

At the same time of the previous fiscal years, its profit was Tk25.79 crore and an EPS of Tk1.44, according to its disclosures published on the stock exchanges website today (11 March).

Following the disclosures, Paramount Textile's shares dropped by 3.95% to Tk51.10 each at the Dhaka Stock Exchange.

In an explanation about declining profit, it said revenue decrease in this period in comparison with the corresponding period of last year."

How much revenue declined, it was not confirmed as it yet to publish its financials statements.

Meanwhile, in the first half of 2025-26 fiscal year, its profit declined by 4.23% to Tk42.27 crore, and EPS stood at Tk2.36.

In H1 of FY25, its profit was Tk4.06 crore and EPS was Tk2.46, its disclosure said.

The consolidated net operating cash flow per share for H1 declined to Tk3.26 as against Tk5.03 for the July-December of the previous fiscal year.

While its consolidated net asset value per share stood at Tk45.06 as of 31 December.

It said cash flow significantly lower because of lower revenue collection compare to the same period of the last year.