Before the Covid-19 pandemic, Sabekunnahar Mitu, a young woman from Faridpur, had vague notions, but no concrete plans of becoming an entrepreneur. An unlikely event made her curious about eco-friendly handicrafts, and she now not only makes a good profit from her venture but also employs around 400 people in her locality.

Mitu completed her Secondary School Certificate in 2015 and got married while preparing for her Higher Secondary School Certificate. She later enrolled in the Management Department at Government Rajendra College in Faridpur.

“I kept thinking about becoming an entrepreneur while studying at the college,” she said

One day, while visiting the Kolarhat area of Rajbari in late 2019, Mitu got caught in a sudden rainstorm and took shelter in a roadside shed, where handicraft workers were busy making different products.

“I became curious and started asking questions. That is where the dream began.”

After that visit, Mitu researched online and contacted BD Creation, a large handicraft exporter in Dashuria, Pabna. She visited the factory with her husband next year.

“At first, they did not let me enter, but later they allowed me to look around, although photography was restricted,” she said. The experience bloomed the idea of starting a business.

Encouraged by the experience, she sold her gold jewellery for Tk 2 lakh and received another Tk 1 lakh from her husband, Rezaul Karim, who works as a sub-assistant engineer at the Department of Public Health Engineering in Baliakandi, Rajbari.

With this money, she bought 12 used sewing machines from a business in Pabna that was about to close. She started her factory in a small, rented room near Basdi Bazar.

From the same business that sold her the sewing machines, she hired two operators from Pabna to train 10 local women.

Mitu’s business took off in 2020 and gradually expanded. Seven years later, the step into eco-friendly entrepreneurship has made her a strong example of women’s economic empowerment in the community.

GROWTH OF LAM CREATION

Mitu now runs two production units and has invested Tk 50 lakh in total so far.

A recent visit to the factory showed workers producing eco-friendly goods using jute, hogla leaves, water hyacinth and thatch.

The factory produces more than 50 items, including bags, mats, pet houses, file boxes, baskets, plant pots, bowls, laundry boxes, lunch boxes and tissue boxes. Prices range from Tk 50 to Tk 1,500 depending on design and quality.

“We produce goods worth Tk 30-35 lakh every month. After expenses, I earn around Tk 2-3 lakh,” Mitu said.

Production work is divided among teams responsible for stitching, finishing, quality checks and export preparation. Around 100 men and women work in the two units, while about 300 women from villages in Faridpur and Rajbari work from home as contractual artisans.

The initiative has significantly changed lives in the area.

“My father works as a day labourer. I couldn’t continue education beyond 10th grade,” said Safia Sultana, 21. She now earns Tk 6,500 to Tk 7,000 a month.

Mosammat Aklima Khatun, 24, a homemaker, said, “After household chores, I come here and earn. It’s a blessing for us.”

Rojina Begum from Rajbari earns Tk 3,500 to Tk 4,000 a month by working from home.

Factory manager Humayun Karim, 26, said he now earns Tk 12,000 a month after failing to find a job despite trying in many places.

The permanent workers employed at the two units are paid based on their work volume. Completing more work means more payment.

They also have the option to receive the payment on a weekly basis or a monthly basis.

Mitu’s husband, Rezaul Karim, recalled a tragic memory while talking about the business.

“We lost a newborn in 2021, which left her devastated. Working helped her return to normal life. We now have a six-year-old son. She manages everything herself, and I am very proud of her,” he said.

Lam Creation’s products are currently exported through larger companies like BD Creation.

“My biggest dream is to establish a direct export line and expand the business so that women here no longer have to depend on others,” she said.

BD Creation is one of the companies involved. Mahbub Alam, deputy general manager of BD Creation, said Lam Creation supplies products to them and maintains good quality standards. Golden Jute, a company based in Rajbari, also buys products wholesale from Mitu’s venture and exports them.

Md Mainul Hasan, promotion officer at Bangladesh Small and Cottage Industries Corporation (BSCIC) in Faridpur, said, “This initiative has created income opportunities for 400 people, making a significant contribution to the local economy. We are ready to support them with training if needed.”

Gold prices fell on Monday as the dollar firmed, while ‌news that the Strait of Hormuz is closed again pushed oil prices higher, reviving inflation fears.

Spot gold was down 0.7 percent at $4,792.89 per ounce, as of 0730 GMT, after hitting its lowest since April 13 earlier in ​the session.

US gold futures for June delivery fell 1.4 percent to $4,812.20.

“Gold prices are lower ​today after the US-Iran war ceasefire that markets celebrated last week appeared to be breaking down,” said Ilya Spivak, head of global macro at Tastylive.

That has revived ​the now-familiar ‘war trade’ dynamics we’ve seen since the beginning of the conflict. Crude oil prices ​gained, which echoed into inflation expectation and drove up both yields and the US dollar.”

The dollar index strengthened, making greenback-priced bullion more expensive for other currency holders. Benchmark 10-year US Treasury yields gained 0.6 percent.

Oil prices ​jumped and stock markets wobbled as rising tension in the Middle East kept shipping in ​and out of the Gulf to a bare minimum.

The US has seized an Iranian cargo ship that tried ‌to run its blockade and Iran said it would retaliate, raising the possibility that the ceasefire between the two countries might not last for even the two days it is set to remain in force.

Tehran said it would not participate in a second round of negotiations that ​the US had hoped ​to kick off before the ceasefire expires on Tuesday.

Gold prices have fallen about 8 since the US and Israel launched strikes on Iran in late February, ​on concerns that higher energy prices could stoke inflation and keep ​global interest rates higher for longer.

While gold is considered an inflation hedge, higher interest rates crimp demand for the non-yielding asset.

Meanwhile, gold demand during one of India’s key buying festivals stayed muted on Sunday as record ​prices curbed jewellery purchases, offsetting a modest uptick in ​investment demand.

Industries Minister Khandakar Abdul Muktadir today (20 April) informed parliament that Bangladesh witnessed its highest trade imbalance with India among Saarc member countries, with the gap reaching $7.86 billion in the 2024-25 fiscal year.

"Bangladesh's trade deficit [among Saarc members] with India is the highest. The gap stood at $7.86 billion in FY2024-25," he said, while replying to a starred question from treasury bench member SM Jahangir Hossain (Dhaka-18).

The minister said Bangladesh has also trade deficits with Afghanistan, Bhutan and Pakistan, but it enjoys trade surpluses with Nepal, Sri Lanka and the Maldives, among the Saarc countries.

Presenting detailed figures, he said Bangladesh exported goods worth $11.09 million to Afghanistan and imported $21.80 million, resulting in a deficit of $10.71 million.

Exports to Bhutan stood at $14.33 million, while imports reached $44.10 million, leaving a deficit of $29.77 million.

In trade with India, Bangladesh exported goods worth $1,764.24 million against imports of $9,624.10 million, resulting in a deficit of $7,859.87 million.

With Nepal, Bangladesh exported goods worth $35.40 million and imported $5.50 million, maintaining a trade surplus.

Exports to Pakistan were $74 million, while imports stood at $755.30 million, creating a deficit of $681.30 million.

Bangladesh exported $82.85 million worth of products to Sri Lanka against imports of $76.60 million, while exports to the Maldives were $6.35 million compared to imports of $3.50 million, both reflecting trade surpluses.

The government has simplified industrial gas distribution guidelines, a strategic move designed to cut operational costs and enhance productivity for the country’s manufacturing sector.

The Power, Energy and Mineral Resources Division issued a circular on Monday, introducing reforms that eliminate long-standing bureaucratic hurdles for industrial users.

Key changes under the new directive include: industrial units may now rearrange or replace gas equipment without prior permission from distribution companies, provided the approved hourly load remains unchanged. Installations must be performed by an enlisted contractor.

Businesses can now transfer unused gas loads between units under the same ownership within the same premises. Approval is now streamlined through the local managing director or regional head, bypassing the previous requirement for head office board approval.

Gas loads previously allocated for captive power can now be transferred to industrial categories within the same facility.

Distribution and marketing companies are mandated to complete meter installations within seven days, followed by mandatory quality verification.

The Bangladesh Textile Mills Association (BTMA) has lauded the initiative, noting that the textile and apparel industries-which are among the largest gas consumers-stand to benefit significantly from these reforms.

Business leaders expressed optimism that the measures will streamline operations and improve energy management across energy-intensive sectors.

The US dollar rose ​to its highest level in a week against major currencies on Monday before paring gains as renewed US-Iran tensions and ‌fading hopes for a Middle East peace deal sent investors toward safe havens.

The United States said on Sunday that it had seized an Iranian cargo ship that tried to run its blockade, while Iran said it would retaliate, stoking fears about a resumption of hostilities.

Tehran also said it would not participate in a second ​round of negotiations that the US had hoped to kick off before its two-week ceasefire with Iran expires on Tuesday.

“The weekend escalation ​revives the geopolitical risk premium just as markets had started pricing a peace dividend,” said Charu Chanana, chief investment strategist at Saxo, adding that higher oil “is not just an energy story, it is a growth-and-rates story.”

The euro was last down ​0.05 percent at $1.1754 after hitting a one-week low of $1.1729 earlier in the session, while sterling was 0.15 percent lower at $1.3497. The risk-sensitive Australian dollar fell 0.3 percent ​to $0.7145.

The dollar index , which measures the US currency against six peers, recouped some of its recent losses to rise to its highest in a week at 98.47, before dipping to trade at 98.34.

The index is down 1.55 percent in April. It had surged 2.3 percent in March on haven demand after the war broke out.

Analysts said ​the restrained moves in the currency markets, with the dollar giving back some of its early gains, pointed to lingering optimism that despite ​the setbacks over the weekend a resolution could still be on the cards.

Chris Weston, head of research at Pepperstone, said while the tone is risk-off to ‌start ⁠the week, the move so far “appears orderly rather than indicative of a major volatility shock.”

“Market participants understand that the path to a formal agreement was unlikely to be linear and remains vulnerable to sudden changes, so market players won’t be wholly surprised by a sentiment shift,” Weston said.

Oil prices jumped more than 5% on Monday, on fears that the ceasefire between the United States and Iran could collapse after the US seized an Iranian cargo ship, while traffic through the Strait of Hormuz stayed largely halted.

Brent crude futures advanced $5.08, or 5.62%, to $95.46 a barrel by 0418 GMT and US West Texas Intermediate was at $88.86 a barrel, up $5.01, or 5.97%.

Both contracts tumbled by 9% on Friday, their largest daily declines since 18 April, after Iran said passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period and US President Donald Trump said Iran had agreed to never close the strait again.

"Within 24 hours of Friday's 'completely open' announcement, there were already tankers that were fired upon by the Islamic Revolutionary Guard Corps (IRGC), leading to more fears from the shippers on attempting to leave," said June Goh, a senior oil market analyst at Sparta Commodities.

"Market fundamentals are getting worse, as 10-11 million barrels per day of crude oil remains shut in."

The United States said on Sunday that it had seized an Iranian cargo ship that tried to run its blockade while Iran said it would retaliate amid growing worries of a resumption of hostilities.

Tehran also said it would not participate in a second round of negotiations that the US had hoped to kick off before its two-week ceasefire with Iran expires this week.

The United States has maintained a blockade of Iranian ports, while Iran has lifted and then re-imposed its own blockade of the Strait, which handled roughly one-fifth of the world's oil supply before the war began almost two months ago.

"Oil markets continue to gyrate in response to oscillating social media posts by the US and Iran, rather than the realities on the ground which remain challenging for oil flows to resume in a rapid fashion," Saul Kavonic, MST Marquee's head of research, said.

"The announcement of the Strait opening proved premature," Kavonic said.

"Ship owners will be twice shy about heading towards the Strait again without receiving much more confidence that any announced passage is real."

More than 20 ships passed the strait on Saturday carrying oil, liquefied petroleum gas, metals and fertilisers, Kpler data showed, the highest number of vessels crossing the waterway since 1 March.

The recent fuel price hike is rippling through Bangladesh’s trade logistics chain, pushing up costs for importers, exporters and freight operators at the same time.

On Sunday night, owners of 21 private inland container depots (ICDs) announced an 8.5 percent increase in container handling charges with immediate effect.

The operators say the increase was obvious after a 15 percent rise in diesel prices. Exporters, however, say it will erode their competitiveness at a time when export growth has been falling for eight consecutive months.

Apparel exporters have criticised the move and called for a government review.

However, the Bangladesh Inland Container Depots Association (Bicda) defended the move, saying operators had to adjust costs to keep services running smoothly.

“Following the diesel price hike, cost adjustments became unavoidable to maintain smooth operations,” said Md Ruhul Amin Sikder, secretary general of Bicda.

The latest adjustment comes just months after ICD charges were raised by 20 percent, while the Chittagong Port Authority increased tariffs by more than 41 percent.

Private ICDs handle 20-23 percent of import-laden containers and around 93 percent of export-bound containers moving through Chattogram port.

The revised ICD rates cover six service categories, including container transport, lift-on/lift-off charges, export stuffing, container weight charges and import delivery, according to a circular issued by Bicda.

The association said ICD operations consume more than 70,000 litres of diesel a day, making cost adjustments unavoidable.

At present, ICDs charge an average of Tk 2,046 to transport an empty container between the port and depots. Export stuffing costs about Tk 7,424 for a 20-foot container and Tk 9,900 for a 40-foot container. Rates vary across depots as they are negotiated individually with clients.

Industry stakeholders, however, have raised concerns about the wider impact on trade costs.

“With the latest ICD hike, the cost of import and export business will rise sharply,” said Khairul Alam Suzan, former vice-president of the Bangladesh Freight Forwarders Association (BAFFA), pointing to earlier increases in charges and tariffs in December last year.

Shipping agents have echoed similar concerns, warning that the higher costs could weigh on external trade performance.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has criticised the decision as unilateral, calling for a government-led committee to assess the actual cost impact before any tariff adjustments are made.

SM Abu Tayyab, director of the BGMEA, said the combined pressure of higher port tariffs, ICD charges and rising freight costs would hit the already struggling readymade garment sector hard.

Bangladesh’s merchandise exports, heavily dependent on apparel, have recorded eight consecutive months of decline as of March. Exports fell by more than 18 percent year-on-year, dropping to $3.48 billion last month from $4.25 billion a year earlier.

The dual increase in logistics and handling costs is likely to squeeze profit margins further, particularly in low-margin sectors.

“With exports already on a softer trend, this will push exporters further onto the back foot,” said Riad Mahmud, managing director of industrial manufacturing company National Polymer Group.

He said truck fares rose by 6 percent to 7 percent within hours of the fuel hike announcement and are likely to settle 18 percent to 20 percent higher.

“These are cumulative pressures,” he said. “Transport costs are rising, and ICD handling charges are also going up. All of this directly increases export costs.”

He added that exporters are especially exposed because most orders are agreed in advance. “We cannot revise prices after contracts are signed. The additional costs must be absorbed by exporters.”

Salauddin Sikder, general manager (export) at RFL, said the impact is particularly severe for exporters of non-traditional goods such as plastics, doors and luggage, where shipments are smaller and fixed costs per document are higher.

He said the total cost per container has risen from around Tk 14,000 to about Tk 23,000, an increase of nearly 70 percent to 80 percent.

“Exporters are facing a double burden. Raw material prices have surged due to global geopolitical tensions, while local charges have also increased, leaving little room to absorb costs,” said Sikder.

“If our prices rise disproportionately compared with competitors like China or Vietnam, we risk losing orders,” he added.

Meanwhile, businesses are bracing for further changes as the Department of Shipping is due to meet stakeholders in Dhaka tomorrow to discuss cost adjustments for lighter vessels.

Shafiq Ahmed, convener of the Bangladesh Water Transport Coordination Cell, said a lighter vessel currently consumes around 3,500 litres of diesel on a round trip between Chattogram and Dhaka. Freight for transporting cement clinker stands at Tk 550 per tonne.

Pioneer Insurance PLC posted a 25% year-on-year growth in net profit in the first quarter of 2026, driven largely by a sharp cut in management expenses, even as its premium income declined significantly.

According to the company's financial statements for the January–March period, net profit after tax rose to Tk16.59 crore, up from the same period last year. Earnings per share (EPS) also increased to Tk1.70, compared to Tk1.36 a year earlier.

However, the insurer's premium income dropped by 19% to Tk77.72 crore during the quarter, reflecting a broader slowdown in the general insurance sector.

The profit growth was mainly supported by a 45% reduction in management expenses, which fell to Tk16.37 crore. The decline followed a regulatory move by the Insurance Development and Regulatory Authority (IDRA) to cancel agent commissions for non-life insurers, easing operational costs.

Despite the improved bottom line, the company faced rising claims, which surged by 64% year-on-year to Tk12.11 crore during the quarter.

Commenting on the performance, Syed Shahriyar Ahsan, chief executive officer of Pioneer Insurance, said the industry is currently navigating a challenging environment.

"The cancellation of agent commissions has significantly reduced business volumes that were previously driven by agents," he told The Business Standard.

He added that a slowdown in private sector exports and imports, coupled with geopolitical tensions in the Middle East, has further impacted the sector.

According to Ahsan, the general insurance industry experienced a combined premium income decline of Tk221 crore in the first two months of 2026, reflecting sluggish economic activity and the absence of agent incentives.

He also raised concerns over pricing practices among smaller insurers, alleging that some companies are undercutting premiums to secure business. "This creates an uneven playing field for companies that maintain standard pricing and transparency," he said, urging regulators to address the issue.

To stabilise the sector, he suggested reintroducing mandatory motor insurance, citing rising road accidents and the need to expand coverage while improving industry transparency.

Despite the quarterly profit growth, investor sentiment remained cautious. Pioneer Insurance shares declined by 1.13% to close at Tk61.30 on the Dhaka Stock Exchange on Monday.

For the year ended 31 December 2025, the company reported an EPS of Tk4.57 and a net asset value per share of Tk46.97. Based on this performance, its board has recommended a 25% cash dividend alongside a 5% stock dividend, subject to regulatory approval.

The company's annual general meeting is scheduled to be held on 4 May through a digital platform.

Unilever Consumer Care reported that its revenue dropped by 8% in the first quarter of this year.

According to the financial statement for the January-March period of 2026, the health drinks like Horlicks producer posted a revenue of Tk87.44 crore, which was Tk95.40 crore during the same quarter a year ago.

Following the revenue decline, its net profit also dropped by 12% year-on-year to Tk12.11 crore in the first quarter.

At the end of March, its earnings per share stood at Tk6.29, which was Tk7.13 a year ago.

In alignment with the BNP government's election manifesto, the finance ministry will prioritise 12 sectors in the upcoming FY2026-27 budget, including ensuring advanced education and healthcare, job creation, and food and energy security.

The Finance Division has instructed various ministries to submit their budget estimates for the next fiscal year and projections for the following two fiscal years to the finance ministry by 30 April, keeping these priorities in mind.

A circular issued today (20 April) emphasised prioritising human resource development, social protection, women and child development, poverty alleviation, the expansion of creative economic activities, tackling climate change, and bringing dynamism to economic development.

The first budget of the BNP government is likely to be announced on 11 June.

The estimated budget size is Tk9.30 lakh crore, which includes Tk3 lakh crore for development expenditure and Tk6.30 lakh crore for operating expenditure.

Following a lack of consensus on several conditions during recent talks with the International Monetary Fund in Washington, Finance Minister Amir Khosru Mahmud Chowdhury is set to seek Prime Minister Tarique Rahman's guidance on the matter, according to ministry sources.

Sources in the finance ministry said the minister is expected to meet the PM this week, along with members of the delegation who attended the IMF meetings, to brief him on the discussions and decide the next course of action.

Further engagement with the IMF is likely to depend on that guidance.

A senior finance ministry official, speaking on condition of anonymity, told The Business Standard that the IMF has outlined its position on three major issues that Bangladesh is expected to implement from the next fiscal year: eliminating all forms of tax exemptions, withdrawing government subsidies, and allowing the exchange rate to become fully market-based.

While these conditions featured in negotiations with previous administrations, the IMF is now pressing the BNP government for a concrete implementation plan.

"There is a direct relationship between implementing these measures and an increase in consumer expenses. Therefore, decisions on these issues will have to come from the highest political level of the government," the official said.

"If tax exemptions are removed as per the conditions, the tax burden will fall on consumers, increasing costs and potentially fuelling inflation. Similarly, withdrawing subsidies will raise the prices of goods, further increasing expenses," the official added.

Sources at the NBR said its chairman, Abdur Rahman Khan, who attended the IMF meetings in Washington, held a meeting on Sunday (19 April) with senior officials to review the outcomes and explore ways to reduce tax exemptions and boost revenue collection.

According to the latest data published by the NBR for FY2022-23, the revenue board collected Tk3.25 lakh crore while granting tax exemptions worth approximately Tk2.75 lakh crore – nearly 85% of the total collection.

Meanwhile, in the current fiscal year (FY26), government spending on subsidies, incentives and cash support is estimated at Tk1.12 lakh crore.

Concerns over implementation

Given the prevailing economic landscape, economists argue that the new administration will find it challenging to overhaul all tax exemptions and subsidies, urging the government to adopt a more pragmatic approach.

Mustafizur Rahman, a distinguished fellow at the Centre for Policy Dialogue (CPD), told TBS that the government needs to strike a balance.

"The government must increase revenue. However, it will be difficult to eliminate all exemptions at once. A realistic decision should be reached through discussions," he said.

"Tax exemptions exist not only in Bangladesh but also in other countries. These exemptions need to be rationalised. If all are removed at the IMF's insistence, it may create distrust among investors who have made investments based on government commitments," he added.

He suggested negotiating a two- to three-year timeline with the IMF. "Failure to reach an understanding with the IMF would send a negative signal. It may become difficult to secure loans from other development partners," Mustafizur added.

An NBR official told TBS that if IMF conditions are implemented, many existing exemptions would no longer be allowed. This could lead to the imposition of VAT on essential services such as agriculture, food, education and healthcare, raising costs for consumers.

Another senior NBR official warned that removing exemptions would bring several key sectors under the tax net, adding that even remittances could potentially be taxed.

Gradual reduction underway

Over the last three years, the NBR has been implementing a phased plan to curb tax exemptions, retaining them only for essential sectors and consumer-facing goods while introducing sunset clauses to ensure other incentives expire within a set timeframe.

In income tax, rates have been increased in sectors such as poultry and fisheries, effectively reducing exemptions.

Tax incentives for local manufacturing of products such as electronics, home appliances, mobile phones and semiconductors are also being gradually phased out, with timelines for full withdrawal outlined in last year's budget.

The standard VAT rate currently stands at 15%, and any lower rate applied to a sector is treated as a tax exemption.

To support export competitiveness, exporters benefit from reduced tax rates. They are exempt from import duties on raw materials and do not pay VAT on locally sourced inputs. Export-oriented firms are subject to a corporate tax rate of 12%, compared with 27% for non-listed companies.

The government raised fuel oil prices Saturday midnight to rein in mounting subsidies. The adjustment has had an immediate knock-on effect on transport fares and commodity prices, reflecting Bangladesh's heavy reliance on diesel-powered logistics.

The key question, however, is whether these cost increases are proportionate to the fuel price hike or significantly inflated. Take freight rates as an example. The cost of hiring a covered van from Dhaka to Chattogram jumped 30-40% to Tk20,000-Tk25,000 on Monday, up from Tk14,000-Tk15,000 on Friday.

Pickup fares from Bogura and Jashore have also risen from Tk12,000 to Tk15,500. This is despite diesel prices rising by around 15% to Tk115 per litre.

A typical truck or covered van consumes roughly 80-100 litres of diesel on the Dhaka-Chattogram route. Even at the higher end, the fuel cost increase would be about Tk1,500 per trip. In practice, however, freight charges have gone up by Tk6,000-Tk10,000.

"There is a shortage of vehicles due to fuel constraints. Those still operating are losing time refuelling, often stopping at multiple filling stations," said Syed Md Bakhtiar, executive president of the Bangladesh Truck and Covered Van Owners' Association.

In Dhaka's wholesale hubs, these inflated overheads have translated into immediate hikes for daily staples, leaving low- and middle-income households to tighten their belts. Egg prices, for instance, have risen by Tk2-Tk2.5 per piece, due to higher transport costs.

But the actual impact of the fuel hike should be no more than 20 paisa per egg, according to Mohammad Halim, a wholesale trader at Moghbazar.

Rice prices have increased by Tk4 to Tk6 per kg over the past week. Miniket rice is now selling at Tk82 to Tk85 per kg, up from Tk78, while Najirshail has risen to Tk88 to Tk94 per kg. Local lentils have increased by Tk10 per kg, now selling at Tk150 to Tk160.

Edible oil and sugar prices have also climbed. Loose soybean oil is selling at Tk170 to Tk175 per litre, while sugar has risen to Tk135 to Tk145 per kg amid supply shortages.

Vegetable prices have climbed across the board, particularly for items sourced from outside Dhaka. Brinjal now sells at Tk100-Tk120 per kg, while most other vegetables, including gourds, beans and leafy varieties, have moved into the Tk70-Tk120 per kg range. Even staple items like tomatoes, carrots, onions and cabbage have edged higher, tightening household budgets.

Spice prices have risen more sharply in comparison, with cardamom seeing the steepest jump, nearly doubling to Tk4,500–Tk6,099 per kg. Cumin, cinnamon, cloves and bay leaf have also recorded steady increases, adding sustained pressure on kitchen costs.

While poultry has remained a relative silver lining – with Sonali chicken at Tk360 to Tk380 and broiler chicken at Tk170 to Tk180 per kg – the fish market has seen a broad increase of Tk40 to Tk50 per kg.

Large tilapia is now selling at Tk300 per kg, rohu at Tk450, and pangash at Tk200, while the prized hilsa is fetching between Tk2,200 and Tk3,000 per kg.

Beyond transport, wholesalers like Khalek Uddin at Moulvibazar say that higher energy prices are driving up cold storage and packaging costs, further narrowing the margins.

At Karwan Bazar, trader Nurul Islam noted that the relentless rise in procurement costs has left merchants with little choice but to pass the buck to consumers, who now face an increasingly difficult battle to manage basic food expenses.

Once upon a time, banks in Bangladesh were regarded as highly reliable financial institutions. Any walk-in customer could open an account at a nearby branch and deposit their money without much concern for risk, as the perceived risk was virtually zero.

Financial Institutions (FIs), however, were considered less trustworthy. Only individuals with personal connections to FI officials or those familiar with their operational framework and oversight by the central bank, Bangladesh Bank, were willing to place funds there—mainly to earn higher returns than banks offered.

Public confidence in FIs deteriorated following the collapse of several institutions over the past decade. Although banks continued operations during this period, the acute liquidity crisis of Farmers Bank Ltd. in 2017 significantly undermined public trust in the banking sector.

This incident compelled people to reconsider the safety of keeping their savings in banks, intensifying concerns over the sector’s credibility and stability. Nevertheless, depositors did not withdraw their money en masse. Many banks, however, have since experienced prolonged financial distress and face substantial challenges in managing operational funds.

The required regulatory measures in 2024–25 constrained fund inflows, slowing deposit growth and, in some cases, increasing withdrawals, leading to a major setback for the sector and further erosion of public confidence.

Numerous factors contribute to vulnerabilities in the banking sector, most of which fall under the broad umbrella of corporate governance failure. Corporate governance encompasses institutional structure, internal systems, policies, implementation mechanisms, oversight processes, internal controls, audit functions, and consistent reporting to Boards and regulators.

While structural frameworks often align with global standards, deficiencies persist in implementation and oversight. Weaknesses in monitoring, execution of responsibilities by management and Boards, and ineffective audit functions—including internal audit—reflect a gap between formal compliance and the competence required for robust governance.

Senior management and boards should ensure strict compliance with policies across all stages of credit and investment operations:

(a) initial screening, including checkpoints such as the coachability of owners, legal compliance, financial performance, and sectoral outlook;

(b) rigorous due diligence covering financial and marketing performance, legal compliance, risk assessment, and management frameworks, concluding with structured investment decisions addressing repayment terms, security coverage, and monitoring as per agreement and covenant clauses;

(c) ongoing monitoring of borrowers’ operations and financial performance, ensuring adherence to agreements;

(d) effective functioning of Internal Control and Compliance Departments and Audit Committees; and

(e) implementation of early alert systems to identify and mitigate emerging risks.

Management must adhere strictly to these policies, while Boards should review implementation through regular reports and provide guidance, exercising oversight without interference, including political influence. Such processes were grossly neglected in vulnerable banks.

In practice, these policies were often only on paper, with many investments pre-decided due to personal connections or political influence (“name-lending”). Investment memos were sometimes based on illegal or non-compliant financial statements, with insufficient knowledge of the legally acceptable requirements under the Companies Act 1994.

Banks failing to comply with rigorous policies accumulated poor-quality loan portfolios and generated misleading reports that obscured asset classifications, creating persistent warning signals. The undue flexibility of Boards and regulators, instead of enforcing early corrective measures, contributed to recurring weaknesses, ultimately bringing banks to the brink of collapse.

All distressed banks should undergo independent compliance audits to identify wrongdoing and strengthen governance.

To restore public trust, they must ensure adequate capitalization, timely depositor repayment, prudent lending, regulatory compliance, transparent reporting, robust risk management, strong internal controls, and accountable, ethical leadership with effective oversight by Boards, audit committees, and regulators.

The writer is a fellow member of ICAB and partner at Basu Banerjee Nath & Co., Chartered Accountants.

The American Apparel and Footwear Association (AAFA), along with several other organisations, has urged the United States Trade Representative (USTR), the US government’s chief trade body, not to impose any new tariffs on countries currently under investigation over production capacity.

In a letter sent to the USTR on April 15, the AAFA warned that additional tariffs on supplying countries could raise costs for American consumers.

Last month, the USTR launched an investigation into 60 economies, including Bangladesh, over alleged failures to address issues related to production capacity and forced labour.

Bangladesh is scheduled to take part in a virtual USTR hearing on the matter on April 29.

The AAFA said in its letter that the US already imposes relatively high tariffs on textiles, apparel, footwear and accessories, even though these products contain significant US value, including intellectual property, raw materials such as leather, and textile inputs like yarns and fabrics.

As a result, textiles, apparel, footwear and travel goods face higher effective tariff rates than most other sectors.

The letter added that this burden disproportionately affects the industry, even though many of these goods are no longer produced in commercial quantities in the US.

It further said that although some countries identified in the investigation may run trade surpluses in certain product categories, these do not necessarily reflect structural excess capacity or practices that distort or restrict US commerce.

The concept of structural excess capacity does not reflect conditions in the US industry, it added.

Instead, the AAFA said, these trade flows are shaped by globally integrated supply chains, where production capacity is developed and used based on business decisions, long-term customer relationships and changing demand patterns.

The association urged the USTR to avoid any action that would further increase tariffs on these goods.

It also said the broad, multi-country investigation appears to be aimed at a pre-determined outcome rather than a focused review of specific practices.

The AAFA added that the investigation may be used to recreate tariff rates and structures that existed under the International Emergency Economic Powers Act (IEEPA).

It also cited Treasury Secretary Bessent, who said, “We will get back to the same tariff level for the countries. It will be just in a less direct and slightly more convoluted manner.”

The association warned that this approach could weaken the government’s ability to properly investigate and address specific foreign trade barriers.

In conclusion, the letter said the industry should not face unintended negative impacts from these investigations. It warned against further tariffs on an already heavily taxed sector, saying such measures would raise costs for American families while doing little to boost domestic production due to existing capacity and investment limits.

BANGLADESH EXPORTS SHOW STRONG GROWTH IN US MARKET

For example, in 2025, clothing exports -- accounting for 86 percent of Bangladesh’s total exports to the US -- rose by 12.36 percent to 266.15 crore square metre equivalents (SME). In value terms, exports increased by 11.75 percent to $8.20 billion compared with 2024, according to the USTR.

Footwear exports from Bangladesh reached 1.78 crore pairs, a rise of 76.43 percent in 2025 compared with 2024. In value terms, footwear exports grew by 52.67 percent to $391.77 million.

Travel goods exports increased by 26.32 percent to 2.15 crore pieces in 2025. Their value also rose by 35.44 percent to $12.37 million, the USTR said.

In another letter, the Forced Labor Working Group (FLWG) of the AAFA, along with 17 other trade organisations, urged the USTR not to impose tariffs linked to forced labour investigations.

They said companies that have invested heavily in compliance systems and are working to eliminate forced labour in supply chains should not be penalised through broad tariff measures that do not distinguish between responsible firms and bad actors.

The letter added that, under Agreements on Reciprocal Trade (ART) and related framework negotiations with the US, several economies -- including some covered by the investigation --have already committed to protecting labour rights and banning imports made with forced labour.

A consistent theme in global oil markets since the US and Israel attacked Iran is that the effective closure of the Strait of Hormuz will be short-lived, and therefore so will the disruption to the supply of crude and refined products.

That expectation has consistently been reflected in pricing for crude oil futures, which have risen sharply since ​the conflict began on February 28, but are still well short of the highs reached in the wake of Russia’s invasion of Ukraine in 2022.

In effect, the paper crude market has believed ‌US President Donald Trump’s slew of social media posts since the bombing started that the conflict will be short, and result in Iran accepting US terms for a peace deal.

The problem is that the reality on the ground doesn’t match the social media claims, and the longer the Strait of Hormuz remains closed the more severe the energy crisis will become, especially in Asia.

Brent crude futures fell 9.1 percent on April 17 to end at $90.38 a barrel in the wake of Trump’s post that the Strait of Hormuz was fully ​open. But they jumped 6.9 percent in early Asian trade on Monday to $96.59 when it became clear the waterway was still closed.

The latest round of optimism that the Strait of Hormuz would re-open began after a Trump social media post ​on April 17 that the waterway that carried as much as 20 percent of the world’s crude oil and refined product supply prior to the war was “fully open and ready for full passage.”

Trump’s assertion was even backed by elements within the Iranian government, but the optimism proved short-lived as Iran’s Islamic Revolutionary Guards Corps moved to keep the strait closed, given Trump’s decision to maintain a US ​naval blockade of Iranian ports.

There are several questions that the market should be asking about the current situation.

Does this mean that the Strait of Hormuz is now effectively being closed by the United States?

Would it re-open if Trump ended ​the blockade of Iranian ports?

Is there sufficient trust between the warring parties to accept a principle that the strait should be open to all?

Who is really in control in Iran, and are they willing to negotiate with a US administration that has a track record of abandoning agreements?

While these are issues for debate, the only fact that really matters is that the strait isn’t open and the risk of attack is likely to keep it that way for the hundreds of vessels waiting either side of the crucial waterway.

SUPPLY STRESS

In ​the meantime crude oil and refined product supply chains are becoming more stressed, especially in Asia, which was the destination for about 80 percent of all the shipments via the Strait of Hormuz prior to the conflict.

While crude futures have ​largely traded on the daily news flow and an underlying optimism that the conflict will be of a limited duration, physical oil and refined products have reflected a more dire near-term supply situation.

Refined products in the Asian trading hub of Singapore have ‌remained at extreme levels, with jet fuel ending at $204.13 a barrel on April 17, more than double the $93.45 close on February 27, the day before the war started.

Gasoil, the building block for diesel, ended at $145.27 a barrel on April 17, up 59 percent since the conflict started, although down from the record $199.89 hit on March 30.

The problem for Asia is that the worst of the supply crunch is probably still to come, as crude shipments into the region fall sharply.

Asia’s seaborne crude imports are estimated at 20.62 million barrels per day (bpd) in April, down from 22.36 million bpd in March, according to data compiled by commodity analysts Kpler. However, both March and April are well down on the 26.76 million bpd average for the ​three months prior to the attacks on Iran.

The situation ​is especially worrying for countries that are major refining centres and exporters of fuels to the region.

Singapore’s crude imports are forecast at 388,000 bpd in April, down from 715,000 bpd in March and 980,000 bpd in January.

South Korea’s crude imports are estimated at 1.68 million bpd in April, down from 2.24 million bpd in March and 2.74 million bpd in January.

Japan’s April imports are expected to be ​921,000 bpd, a drop from 1.63 million bpd in March and 2.16 million bpd in January.

Only India is bucking the trend, with April imports estimated by Kpler ​at 4.67 million bpd, up from 4.45 million bpd in March, but below January’s 5.15 million bpd.

India has been able to secure Russian oil to help offset the loss of barrels from the Middle East, with 1.64 million bpd arriving in April, up from 1.06 million bpd in February.

Notwithstanding India’s success in sourcing crude from other producers, the problem is that Asia’s supplies are coming under strain and it’s likely that refinery processing rates will have to be cut in coming weeks.

It is when the supply of refined ⁠products becomes more ​constrained that the real economic impact of Trump’s war of choice will be felt.

The question for the paper crude oil market is how ​long can it maintain the hope that the conflict will be over soon, when the reality seems to be heading in the other direction?

Finance authorities are set to seek Prime Minister's guidance as to how far the government can go in complying with the International Monetary Fund conditions to secure hard-term budget-support funds.

Finance Minister Amir Khasru Mahmud Chowdhury will lead his team at the consultation today with Prime Minister Tarek Rahman, officials say, as the IMF lending terms have seemingly outwitted negotiators.

A senior government official who attended last week's Spring Meetings in Washington says the decision has become increasingly complex as the current economic situation leaves little room to fully comply with all the IMF conditions.Global economy analysis

"It is now a political decision rather than an economic one -- whether the government will accept the IMF conditions," the official told The Financial Express.

Key IMF strings binding the release of the next two tranches from a lending package in June 2026 include withdrawal of subsidies, raising the tax-to-GDP ratio to 9.2 per cent, and adopting a market-based exchange rate.

Given the ongoing Middle East conflict, sluggish investment, rising fuel prices, persistent inflation, and a downward trend in exports, the government is unlikely to take any drastic measures in the upcoming budget, the official adds.

"We have found the IMF quite rigid on its conditions this time. It wants the withdrawal of all tax exemptions and the introduction of a single VAT rate, which appears difficult to implement under current circumstances," the official notes.

However, IMF officials have urged the government to undertake reforms early in its tenure to minimize future challenges.

Officials at the National Board of Revenue (NBR) say achieving a tax-to-GDP ratio of 9.2 per cent by FY2026-27 would require an additional Tk 2.0 trillion in revenue collection within the next year.Politics

At a recent coordination council meeting, the government set an NBR revenue target of Tk 6.04 trillion -- an increase by nearly Tk 1.0 trillion from the current fiscal year.

However, the revenue officials fear a revenue shortfall of around Tk 1.0 trillion in the ongoing fiscal year.

Until February, the NBR had collected Tk 2.51 trillion, roughly 50 per cent of the revised target of Tk 5.03 trillion.

Government insiders say the situation has become more complicated as the IMF has taken a firm stance on three key issues that the Ministry of Finance cannot decide on its own.

External financing from multilateral development partners largely depends on IMF assessments and approval. Following the IMF meetings, the NBR chairman held an emergency meeting Sunday to assess the feasibility of complying with the dos.

A senior NBR official has told the FE that achieving the targeted increase in the tax-GDP ratio -- from the current 6.5 per cent to 9.2 per cent -- would require around 50 per cent growth in tax revenue.

"We find these conditions difficult to implement in the current economic environment," the official says.

He adds that scrapping time-bound tax exemptions may not be legally feasible either, while withdrawing subsidies is not practical at a time when the economy is under strain due to the impact of the Mideast conflict.Financial news subscription

"The economy does not have the capacity to absorb a complete withdrawal of tax exemptions at this stage."

However, the IMF has advised the government to implement difficult reforms early in its tenure for long-term economic stability.

"We cannot increase revenue overnight simply by curbing tax evasion or recovering arrears," the NBR official says in clear terms.

The revenue board is currently conducting intensive internal assessments to evaluate the potential impact of implementing the IMF conditions.

Dr Fahmida Khatun, executive director of the Centre for Policy Dialogue (CPD), suggests the government should prepare a roadmap to implement IMF conditions.

She, however, finds it difficult to implement all conditions by next year, such as withdrawal of all tax exemptions.

"We need IMF funds but the government needs to be cautious as economy is not prepared now to absorb the pressure," she adds.Banking sector news

There are many sectors that need tax benefits and fiscal support to grow, she notes.

The capital market extended its losing streak for a second consecutive session today (20 April) as investor confidence remained under significant pressure.

A combination of domestic macroeconomic shifts and geopolitical uncertainty continues to weigh on the bourse, with the benchmark DSEX index of the Dhaka Stock Exchange (DSE) plunging by 15 points to settle at 5,232.

The blue-chip DS30 index followed a similar trajectory, dropping 10 points to close at 1,980, reflecting a cautious risk-off sentiment among both retail and institutional participants.

Market analysts at EBL Securities said in their daily review that the recent adjustment in domestic fuel prices has rekindled concerns over rising production costs and broader inflationary pressures in the economy. This domestic factor, coupled with persistent uncertainty surrounding ceasefire negotiations in the Middle East conflict, has significantly dampened the risk appetite of investors.

The broad-based selling pressure resulted in a substantial erosion of the market's total valuation, with the market capitalisation of the premier bourse dropping by approximately Tk3,000 crore in a single day.

The trading session was characterised by persistent volatility from the opening bell. While buyers made sporadic attempts to reverse the downward trend during the mid-session, the recovery efforts were ultimately overwhelmed by an intensifying wave of selling, according to the EBL Securities.

By the end of the day, the market breadth remained heavily skewed toward the bears, as 207 issues declined compared to 120 advancing, while 62 securities remained unchanged. Despite the fall in prices, market activity saw a slight uptick, with total turnover on the DSE inching up to Tk824 crore.

On the sectoral front, the engineering sector continued to lead the turnover chart, accounting for 17.5% of the day's total trading volume. This was followed by the textile sector at 14.8% and the pharmaceutical sector at 11.8%.

Performance across most sectors remained weak, led by a 1.2% drop in travel and leisure, while jute and cement each declined by 1.0%. In contrast, services and real estate stood out with a 1.5% gain, and tannery and textile posted modest gains.

Several high-cap and influential stocks exerted significant downward pressure on the index during the session, with Islami Bank, Square Pharmaceuticals, City Bank, IDLC Finance, and Uttara Bank emerging as the key contributors to the DSEX's decline.

In terms of liquidity and trading volume, Summit Alliance Port emerged as the most traded stock, followed by City Bank, Dominage Steel, Acme Pesticides, and Khan Brothers PP Woven Bag.

Among individual performers, Nahee Aluminum topped the gainers' list by hitting the 10% upper circuit limit, followed by Evince Textiles and Coppertech Industries. On the losing end, IDLC Finance was the top loser with a 7.75% decline, followed by Hamid Fabrics and several non-bank financial institutions including Fareast Finance, International Leasing, and Premier Leasing.

The bearish sentiment was mirrored at the Chittagong Stock Exchange (CSE), where both key indices ended in the red.

The CSCX declined by 11 points to reach 9,023, while the CASPI shed 27 points to close the day at 14,724. Turnover at the port city bourse also saw a decline, settling at Tk34 crore.

The Bangladesh Securities and Exchange Commission has approved a proposal by state-owned Titas Gas Transmission and Distribution Company Limited to issue irredeemable, non-cumulative preference shares worth approximately Tk282.75 crore.

According to a disclosure on the Dhaka Stock Exchange today (20 April), Titas Gas will issue 282,747,469 preference shares at a face value and issue price of Tk10 each, amounting to Tk2,827,474,690. The shares will be issued in favour of the Finance Division of the Ministry of Finance.

Today, the company's share price closed at Tk17 on the DSE.

Titas Gas said the proposal was unanimously approved by shareholders at its 5th Extraordinary General Meeting (EGM) held on 24 December 2025. It was later submitted to the regulator, which granted approval on 15 April 2026.

The move aims to align the company's capital structure with equity support provided by the government. According to Titas, the government had injected a total of Tk282.75 crore into the company as equity up to 30 June 2023, which will now be formally converted into share capital through the issuance.

A committee comprising officials from the finance ministry, Titas Gas, and the Financial Reporting Council (FRC) had earlier, at a meeting on 16 April 2023, decided to issue irredeemable non-cumulative preference shares in favour of the government.

The structure is intended to offer flexibility to the financially strained company.

Under the proposed terms, the government will receive dividends on the preference shares when the company records profits, but no dividends will be paid in years when it incurs losses.

The irredeemable preference shares will remain on the company's books permanently without increasing its paid-up or common share capital, while their non-cumulative nature means Titas will not be required to pay any unpaid dividends from previous years to the government.

Unlike ordinary shares, preference shares do not confer ownership. Instead, they give holders priority over common shareholders in receiving dividends and claims in the event of liquidation. The committee has also set guidelines governing the issuance of such shares and dividend payments.

Financial performance

Titas Gas reported a narrowing of losses in the July-December period, supported by higher operational income and a lower tax deduction rate, which reduced its overall tax burden.

Total revenue rose to Tk19,072 crore during the period, up from Tk17,473 crore a year earlier. Despite the increase, the company posted a loss of Tk390.32 crore, significantly lower than the Tk711.44 crore loss recorded in the corresponding period.

Meanwhile, net operating cash flow per share (NOCFPS) stood at Tk6.07 at the end of December 2025, mainly due to higher payments for gas purchases compared with collections from gas sales.

The government currently holds 75% of Titas Gas's ordinary shares. Institutional investors own 14.95%, while foreign investors hold 0.03% and general investors 10.02%.

On 2 March 2020, the Financial Reporting Council directed that any capital received as share money deposit – included under equity but not refundable – must be converted into share capital within six months of receipt. Such amounts are also to be considered in the calculation of earnings per share.

The recent diesel price hike has made service providers increase charges for harvesting the largest rice crop, Boro, irrigating farmlands, and threshing the cash crop maize-- and farmers are struggling to cope.

Costs soared because of a 15 percent hike in the price of diesel, a key fuel used by nearly 15 lakh shallow tube well pumps to water the Boro fields.

Farmers in four haor districts of Sylhet also depend on nearly 1,500 combine harvesters -- run on diesel -- for bringing their crops home.

The government increased fuel prices on April 19 to cut subsidy payment pressure on the state coffers in the wake of increased import costs.

It coincides with a time when farmers have started harvesting Boro paddy, particularly in the Sylhet region, where a majority of the paddy fields require irrigation.

“Now machines are needed for harvesting and threshing paddy and shelling maize-- everything. With diesel price rising, all costs have gone up,” said Mozammel Haque, a farmer in Aditmari upazila of Lalmonirhat.

The 65-year-old farmer cultivated Boro paddy on 12 bighas and maize on 10 bighas this season. He harvested a portion of the ripened paddy using a diesel-powered harvester machine on Monday.

This year, he has to pay Tk 850 to Tk 900 to harvest the crop per bigha, up from Tk 750 to Tk 800 per bigha in the previous year.

“I am worried whether I would be able to recover my costs after selling the crops.”

In Sylhet, where Boro paddy is harvested early, thousands of farmers rely on combine harvesters for faster harvesting. But the cost of renting a combine harvester has doubled in some areas in the Haor.

The rate of harvesting paddy on one acre of farmland has jumped to Tk 7,500 this season, up from Tk 4,500 to Tk 5,000 in the previous Boro season.

Selim Raza Chowdhury, a farmer from Razapur Union in Sunamganj’s Dharmapasha upazila, said he offered up to Tk 12,000 to harvest one acre of his Boro paddy, and still could not manage to rent a combine harvester.

“With excessive rates and lower paddy prices in the market, it is becoming impossible for us to cover the harvesting and processing expenses,” he said.

Shahibur Rahman, a 55-year-old farmer in Rangpur sadar upazila, said the rent of harvesters and maize threshers increased within a single day of the diesel price hike.

While it costs an additional Tk 250 to Tk 300 per bigha to harvest paddy, for maize the hike is higher-- Tk 400 to Tk 450.

Sirajul Islam, a harvester operator in Aditmari upazila of Lalmonirhat, said about two litres of diesel are required to harvest paddy on one bigha of land.

“Even after standing in line at the pump, fuel is not available. Diesel price has also increased. We were compelled to raise the machine rent,” he said.

“In a few more days, when the full season of rice and maize harvesting begins, pressure will increase further.”

Maize thresher operator Rafiqul Islam from Kurigram, another northern district, has started charging Tk 200 to Tk 300 more than last year.

More than four litres of fuel are needed to thresh maize grown on one bigha of land, he said.

“Diesel price has gone up. There are labour costs too. This is also resulting in arguments with farmers.”

Farmer Ranju Mia of Kharjani Char in Gaibandha sadar upazila cultivated maize on 12 bighas of land, investing Tk 250,000.

Due to fertiliser and fuel shortages, the yield has been poor this year. Again, because of the sudden rise in fuel prices, threshing and transportation costs have increased, he said, fearing losses.

“There is no electricity in the char area, and the soil does not retain water. Frequent irrigation is needed. The amount of paddy we will get will not even cover the expenses,” said Ruhul Amin, another grower from Rasulpur Char in the Fulchhari upazila.

Shahjibazar Power Co Ltd, a concern of Youth Group, has reported a staggering 138% growth in its consolidated net profit during the first nine months of the 2025-26 fiscal year, driven by higher operational efficiency and strong contributions from its associate companies.

According to the company's price-sensitive disclosure released on Monday following its board meeting, consolidated net profit reached Tk81.53 crore for the July-March period, while the consolidated earnings per share (EPS) surged to Tk4.37 from the previous year's levels.

This growth was supported by a 15% increase in total consolidated revenue, which climbed to Tk1,055 crore.

The company's performance was even more robust in the third quarter alone, spanning January to March, where consolidated net profit skyrocketed by 254% to settle at Tk24.71 crore.

During these three months, consolidated revenue grew by 13% to Tk331.31 crore, yielding an EPS of Tk1.32.

The company attributed this stellar numerical performance primarily to a substantial increase in its plant factor, which rose to 77% during this period compared to just 55% in the corresponding period of the previous year.

Beyond its core operations, Shahjibazar Power benefited significantly from its diversified investment portfolio.

A senior company official noted that the firm's bottom line was bolstered by substantial earnings from its two associate companies – Midland East Power and Midland Power Company.

Additionally, the company's subsidiary, Petromax Refinery Limited, showed a healthy recovery, with its revenue jumping by 6% to Tk721.32 crore during the nine-month period.

The parent company, Shahjibazar Power, also displayed remarkable standalone strength as its revenue grew by 41% to reach Tk333.71 crore.

On Monday, Shahjibazar Power shares ended 2.12% higher at Tk53.10 at the Dhaka Stock Exchange.