Even though fuel supply in the country has increased, with higher allocations and improved depot dispatches easing some of the earlier pressure at filling stations, persistent gaps in supply management and uneven distribution continue to blunt the impact on the ground.

On paper, availability appears more stable, but in reality, public ordeal has not eased as expected, with long queues and persistent pressure still visible across most areas.

Agriculture-dependent regions such as Naogaon are facing an added strain from diesel shortages, with farmers often returning empty-handed as pumps run out of fuel needed for irrigation, putting them at risk of significant crop losses amid ongoing watering difficulties.

Dhaka: Queues shorten, but demand pressure remains

In the capital, fuel supply has improved, with most filling stations receiving higher volumes of petrol and octane. This has reduced extreme congestion, but queues remain visible.

At 1:30pm yesterday (22 April), the queue at Ramna Filling Station stretched from Matsya Bhaban past Shilpakala Academy to Birdem Hospital – still long, but significantly shorter than earlier weeks when it extended up to the Public Works Department.

Motorcycles were receiving Tk800-Tk1,000 worth of fuel, while cars were supplied Tk2,000 worth.

Pump owner Nazmul Haque said daily supply has increased from 18,000 litres to 22,500 litres. "From my long experience, to eliminate long waiting times at filling stations, the government will have to increase supply further," he said.

At Meghna Model Star Service in Paribagh, a steady flow of vehicles moved in and out throughout the afternoon. Assistant Manager Ahmed Rushd said supply has doubled compared to earlier levels.

"We started sales this morning with 27,000 litres of octane and 10,000 litres of petrol. More fuel will arrive again at night," he said.

However, nearby Purbal Traders had no fuel stock. Cashier Dulal said the station received 13,500 litres on 20 April but none on 21 April. Despite a 20% announced increase in octane supply, he said the benefit has not materialised due to the pump's tanker capacity limits of 13,500 litres.

Savar: Supply improves, congestion unchanged

In Savar, queues persist despite increased supply. Around 65% of stations reportedly have no petrol or octane, while operational outlets face concentrated pressure. Birulia Filling & LPG Station had only 268 litres of octane yesterday morning.

Consumers continue to feel the strain. Md Shoaib Hossain said, "I have been waiting for three hours and still haven't received fuel." Motorcyclist Sakib added, "The same long lines remain. If I get Tk300 worth of fuel after hours of waiting, how far will that take me?"

Operators say depot-level rationing prevents simultaneous distribution, shifting demand to a limited number of functioning pumps.

Around 70% of stations have diesel, but frequent load-shedding continues to disrupt supply.

At Lalon CNG & Refuelling Station, manager Ahmed said supply has remained inconsistent since the shortage began, and the promised increase in allocation has yet to arrive.

SI Chowdhury Filling Station manager Mostak Ahmed echoed the same experience, saying supply has improved in volume but remains irregular. "Earlier, we wouldn't get octane for five to six days; now it comes every three to four days in 4,500-litre batches. But the issue is consistency. Because supply is not regular and not all pumps receive fuel at the same time, pressure remains. Supply may have increased, but customer pressure is still the same," he said.

The same pattern is reflected at the association level. Bangladesh Petroleum Dealers, Distributors, Agents and Petrol Pump Owners Association convener Syed Sazzadul Karim Kabul told The Business Standard there is still no real improvement. "The lines may look shorter, but nozzles are running nonstop as customer flow continues," he said.

He added that queues alone do not capture the full picture, as oil companies continue to supply fuel in an uncoordinated way, often sending 2,000, 3,000 or 4,000 litres per station at their own discretion rather than through a uniform distribution system.

Sazzadul also noted that ongoing load-shedding is worsening diesel shortages, with rural areas facing 7-8 hours of power cuts. He warned that rising irrigation demand in the coming days is likely to put additional strain on already stretched supplies.

Sylhet: Demand surge offsets supply gains

In Sylhet, small increases in depot supply have not translated into real relief at the pump level. Dealers say what looks like an improvement on paper is not being felt in reality.

Riasad Azim Adnan, acting president of the Sylhet District Petrol Pump Owners Association, said, "The increase exists on paper rather than in practice." He noted allocations have risen from 100 litres to 120 litres, but added, "We are not actually receiving higher quantities as announced."

At the same time, demand has shot up sharply. "Earlier, my pump sold 6,000-7,000 litres of octane per day. Now it is 14,000 to 16,000 litres," he said. "We cannot fully explain this surge. It could be panic buying or even smuggling across the border."

Zubayer Ahmed Chowdhury, divisional committee president of petroleum dealers, said local production should first meet local demand. "If local demand is met, there will be no shortage," he said. He added that one extra truck every four days is being supplied, but "this is not having any meaningful impact."

Naogaon: Farmers under irrigation pressure

The fuel situation in Naogaon is hitting hardest where it matters most – agriculture. With the irrigation season underway, diesel shortages are directly affecting farming activity.

Farmer Atikul Islam said around 90% of the land in the area is agricultural. "Even after going to nearby filling stations for diesel for irrigation pumps, most of the time we do not get fuel," he said.

UNO Shaheen Mahmud said supply has not kept pace with demand. "We have sent letters, requesting increased diesel supply to agricultural areas. We hope the situation will stabilise within a week," he said.

Bogura coordination committee official and Deputy District Magistrate Md Masud Hossain confirmed that supply has increased after price adjustments, but said exact figures are not available: "I can confirm that supply has been raised."

Atithi Filling Station representative Abu Toha added, "Fuel supply has increased slightly, but it is still below current demand."

Although Expat Welfare Minister Ariful Haque Choudhury said yesterday that the situation should return to normal within two to three days, consumers remain sceptical. Truck driver Habibur Rahman, waiting in a fuel queue, said, "The situation will take time to normalise."

Pressure eases in Khulna

Unlike most other areas, field observation at Ferry Ghat intersection in Khulna, Meghna Filling Station, was seen to have a relaxed demand. Around noon, only 10-12 motorcycles were in the queue, with each receiving Tk500-Tk700 worth of petrol or octane.

Just five days earlier, hundreds of motorcycles would crowd the same station, with a cap of around Tk300 per vehicle.

Station manager Masud said supply has improved significantly. "Earlier, we received one tanker a day. Now supply has increased by nearly one and a half times," he said, adding that higher allocations across stations have reduced the need for long queues.

At the Power House intersection, the KCC Filling Station also showed lighter pressure. Motorcyclist Humayun Ahmed said, "There used to be 20-30 vehicles ahead of me. Now there is almost no queue. I can even fill a full tank these days."

A Jamuna Oil official said earlier supply disruptions had halted open-market drum sales, forcing all demand onto filling stations. "Now, limited drum supply has resumed, which has eased pressure slightly," he said, adding that further supply in the open market would gradually help stabilise the situation.

State Minister for Power, Energy and Mineral Resources Anindya Islam Amit announced yesterday that the government has secured sufficient fuel supply to meet demand in May, with preparations underway for June and July.

In an interview with Daily Sun, Bangladesh’s commercial counsellor in Germany highlights opportunities in high-value, eco-compliant goods but warns of risks from LDC graduation, compliance pressures and overreliance on garments

A structural shift in German consumer and regulatory preferences toward sustainability is opening a significant export window for Bangladesh, with strong potential in high value-added and environmentally compliant products, according to Ch Md Golam Rabbi, commercial counsellor (deputy secretary) at the Bangladesh Embassy in Berlin.
“Germany, as Europe’s largest economy, is increasingly prioritising environmentally friendly, ethically produced and fully traceable goods. This shift is not temporary, it represents a long-term transformation of the market,” Rabbi said in an exclusive interview with the Daily Sun.
He noted that Bangladesh is well positioned to capitalise on this trend, supported by its growing portfolio of green factories, improved compliance standards and competitive manufacturing base.
The participation of three Bangladeshi companies at Techtextil & Texprocess 2026 at Messe Frankfurt signals a gradual but important shift toward higher-value market engagement.
Rabbi described Germany’s trade fairs as “high-impact commercial ecosystems” that go beyond exhibitions. “These platforms enable exporters to generate qualified leads, engage directly with decision-makers, analyse competitors and position their brands in a highly competitive environment,” he said.
He emphasised that trade fairs serve a dual purpose, as immediate business development tools and long-term strategic investments. Companies can test market responses, launch new products, gather direct buyer feedback and build partnerships across the value chain.
To maximise outcomes, Rabbi advised exporters to adopt a structured approach, including setting clear and measurable targets, scheduling meetings in advance and leveraging digital platforms such as LinkedIn to enhance real-time engagement and visibility.

Germany anchors Bangladesh’s EU exports
The European Union continues to dominate Bangladesh’s export landscape, accounting for nearly half of total exports, which reached $48.28 billion in the 2024-25 fiscal year.
Within the EU, Germany remains the single largest destination. Bangladesh exported approximately US$8.8-9 billion worth of goods to Germany in 2024, with momentum continuing into 2025. Overall exports to the EU stood at around $23.9 billion in 2025, reflecting steady growth.
However, Rabbi cautioned that the export structure remains highly concentrated. “More than 80%-90% of exports to the EU are still readymade garments. While this has been a strength, it also exposes Bangladesh to structural risks,” he said.
With Germany’s demand evolving rapidly, he underscored the need to move beyond volume-driven apparel exports toward diversified, value-added products.
He identified emerging opportunities in light engineering, footwear, leather goods, technical textiles, pharmaceuticals, ICT services and jute-based eco-friendly products.
“European buyers are increasingly shifting toward man-made fibre (MMF), functional textiles and technical applications. Capturing this segment will be critical for future growth,” he added.

LDC graduation: Opportunity with risks
Bangladesh’s graduation from Least Developed Country (LDC) status in 2026 marks a turning point for its export competitiveness in the EU market. Unless the government’s request for deferment is approved, the country is set to graduate in November this year, bringing major changes to market access and tariff benefits.
Rabbi warned that the loss of duty-free, quota-free access under the Everything But Arms (EBA) scheme could lead to “preference erosion,” increasing tariff burdens on Bangladeshi goods.
“To sustain growth, securing GSP Plus status or negotiating free trade agreements will be essential,” he said, noting that competing countries such as Vietnam and India are already advancing through bilateral and regional trade deals.
Beyond tariffs, compliance will become a decisive factor. Exporters will need to align with stringent frameworks such as the EU’s Carbon Border Adjustment Mechanism (CBAM) and Germany’s Supply Chain Due Diligence Act, which require robust environmental, labour and governance standards.
He also pointed to the loss of special treatment under WTO provisions, which could limit policy flexibility and increase pressure on domestic industries.

Compliance, cost and logistics challenges
Rabbi identified compliance as the most immediate and complex challenge.
“EU regulations are evolving rapidly, particularly around sustainability, due diligence and traceability. This requires continuous investment and institutional readiness,” he said.
Other constraints include limited product diversification, slower adaptation to MMF-based production, and inefficiencies in logistics and supply chains. Lead times, port handling capacity and freight costs continue to affect Bangladesh’s competitiveness compared to regional peers.
Additionally, global economic uncertainty and inflationary pressures in Europe are influencing buyer behaviour, leading to cautious sourcing strategies. Rising energy and raw material costs are further compressing exporters’ margins.
He also warned against overdependence on a narrow export base, noting that excessive reliance on a single sector could create long-term systemic vulnerabilities.

Embassy steps up engagement
To address these challenges and leverage emerging opportunities, the Commercial Wing of the Bangladesh Embassy in Berlin has intensified its engagement with the German market.
“Our focus is on building direct linkages between Bangladeshi exporters and European buyers through trade fairs, buyer-seller meetings and continuous engagement with industry associations and retail groups,” Rabbi said.
The embassy is also actively involved in policy advocacy, particularly in areas related to market access, sustainability standards and upcoming EU regulations.
Rabbi concluded that Bangladesh’s future export success in Germany will depend on its ability to align with evolving market dynamics.
“The opportunity is clear. But capturing it will require a strategic shift, toward sustainability, diversification, compliance and value addition. Those who adapt early will be the biggest beneficiaries in the German and broader EU market,” he said.

In the rolling, wind-swept grasslands of Chifeng in northern China's Inner Mongolia, towering white wind turbines line hilltops like sentinels over a hydrogen industry Beijing is trying to prise away from coal.

They are part of a $2 billion project - the biggest of its kind - that harnesses renewable energy to run banks of electrolysers that produce the molecules needed for fertiliser, marine fuel and low-emission steelmaking.

India shares China's "green hydrogen" ambitions, but its commitments are even more concrete and aggressive. Backed by subsidies worth some $2.1 billion, New Delhi is targeting 5 million metric tonnes of green hydrogen annually by 2030 - five times the current size of the global market and about double what analysts estimate Chinese output will be by then.

The massive bets by the world's two most populous nations come at the same time that the West has quietly backed away from its ambitious green hydrogen goals from the start of this decade after cost constraints proved stickier than anticipated.

What China and India have in common - despite very different motives - is the power and political will to force a market into existence, by underwriting projects, steering demand and pushing costs down through scale.

India has drawn private capital by pairing subsidies with offtake guarantees from refineries, fertiliser plants and steelmakers, making projects bankable from the outset.

The motivation is energy security. Hydrogen in India is overwhelmingly derived from imported natural gas, whose supply has suffered a sequence of shocks from the Middle East, Ukraine and the pandemic.

For China - able to deploy state-owned giants or attract private firms with large-scale, planning-led industrial projects - the aim is to preserve its dominance in hydrogen as the industry shifts towards cleaner energy.

In its five-year plan announced in March, Beijing listed green hydrogen alongside quantum computing, brain-computer interfaces and AI-enabled robotics as a frontier industry - an elevation in status that signals more capital will flow its way.

China: speed and scale

China invested $3.7 billion in green hydrogen production last year, more than double US levels, said Rystad Energy's head of hydrogen, Minh Khoi Le.

By 2031, China will have some 2.6 million tonnes per year online, representing $26 billion in investment, according to Rystad projections.

Much of 2025's outlay went into the Chifeng project, operated by Chinese wind turbine maker Envision Energy. It aims to sell green hydrogen and ammonia to markets in Asia, Europe, Latin America and the Middle East, and delivered its first green ammonia cargoes to South Korea's Lotte Fine Chemical in February.

"If we go back a year or two ago, China was not very visible on this situation of green hydrogen, and then two years later they have almost all the biggest projects in the world," said the International Energy Agency's hydrogen lead, Jose Bermudez.

China last year likely doubled its renewables-based hydrogen production capacity to 250,000 tonnes - more than half of the global total, and surpassing a 2022 target to produce 100,000 to 200,000 tonnes annually by 2025 - said Agora Energy China managing director Kevin Tu.

In Inner Mongolia and other places with high winds and strong sunlight, costs can fall to around $2 per kilogram for green hydrogen, close to parity with coal-based hydrogen, Tu said. On average, producing green hydrogen in China costs around $4 per kilogram, he said.

India: aggregating domestic demand

India has brought the price of producing green hydrogen as low as 279 rupees (around $3) per kilogram, from around $5 in 2023, when the government launched the National Green Hydrogen Mission under the clean energy ministry.

Abhay Bakre, who heads the mission, told Reuters that the cost should drop to near $2 by 2032 as technology improves, processes become more efficient and more components are made domestically.

Projects will begin delivering "large quantities" of green hydrogen as soon as next year, he said, and "scale up very fast" to hit the target of 5 million tonnes by 2030.

Under the initiative, industrial heavyweights including Larsen & Toubro, Bharat Petroleum Corp, GAIL and JSW Steel produce about 8,000 tonnes of green hydrogen and its derivatives annually.

New Delhi is kick-starting demand through state-run reverse auctions, where sellers try to undercut each other to win long-term contracts, effectively revealing the lowest price producers can bear.

The government said last month that suppliers and fertiliser companies had signed offtake agreements for 724,000 tonnes of green ammonia, which could cover one third of the country's hydrogen requirements.

Maintaining momentum will require "bold, sector-specific domestic initiatives, coupled with strategic international partnerships to unlock export potential", analysts at the Institute of Energy Economics and Financial Analysis wrote in a report.

"With one of the lowest costs of renewable power generation in the world, India is well placed to capture a significant portion of the export market."

Foreign buyers are increasingly diverting garment work orders away from Bangladesh over concerns about energy reliability and an uncertain business climate, said Anwar-Ul Alam Chowdhury (Parvez), president of the Bangladesh Chamber of Industries (BCI), yesterday.

“Buyers are telling us that within the next two to three months, Bangladesh may face electricity shortages. Because of that, their top management is discouraging them from placing new orders here,” he said, citing recent communications from international sourcing teams.

He made the remarks at a discussion with senior officials of the National Board of Revenue (NBR) at its headquarters in Dhaka. The NBR organised the meeting as part of its consultation with businesses and other stakeholders ahead of formulating tax proposals for the next fiscal year, 2026-27.

The BCI president said some orders had already been redirected to India and other competing countries, while others were being withheld amid growing uncertainty.

He added that several large buying houses had warned local suppliers of potential disruptions, triggering anxiety across the export-oriented manufacturing sector.

“Orders for July and August, which were expected by now, have either slowed significantly or stopped altogether. We are still in discussions, but in many cases we have not been able to secure the orders,” he said.

Chowdhury cautioned that a further downturn could follow if the situation does not improve.

Beyond energy concerns, he also highlighted the burden of minimum tax on loss-making businesses. Under the current rules, companies must pay a minimum turnover tax of 1 percent even if they incur losses, a provision he said is particularly challenging for small enterprises.

He urged policymakers to introduce a slab-based system for smaller firms and called for clearer safeguards regarding provisions in the Income Tax Act 2023 that allow tax officials to access business systems and financial records for withholding tax verification.

Md Abdur Rahman Khan, chairman of the NBR, along with other officials from both organisations, were present at the meeting.

The government has secured sufficient fuel supply to meet demand in May, with preparations underway for June and July, State Minister for Power, Energy and Mineral Resources Anindya Islam Amit said today (22 April).

He made the remarks in parliament while responding to an urgent public importance notice raised by Jamaat-e-Islami Ameer Shafiqur Rahman on addressing the "ongoing energy crisis" and reducing public suffering.

Highlighting stock, distribution and global situation, the state minister said fuel prices in the global market have increased by an average of 186.59% since the start of the Iran war.

Despite intense pressure for price adjustments, he said the government refrained from raising fuel prices during the peak boro irrigation season. "After irrigation demand eased, prices were adjusted, and even then, the increase was lower than in neighbouring countries," he added.

He also said the government remains open to constructive proposals. "If the opposition or any party has a clear plan to resolve the fuel crisis, the government is willing to consider it."

Opposition lawmakers also took part in the discussion on the proposal.

An outfit of high-profile global rating-agency Fitch suggests Bangladesh should continue with its high policy rate in lending in the high-inflation regime, ostensibly nay-saying pleas for rate cut.

"We now expect the Bangladesh Bank to maintain its policy rate at 10 per cent over FY2026/27 instead of cutting the rate," says a BMI report, available Wednesday.

Business Monitor International or BMI is a Fitch Solutions company that provides macroeconomic, industry, and financial market analysis globally.Banking sector news

The subsidiary of the American-British credit-rating agency, Fitch, makes such suggestion in view of high projected inflation, recent decline in long-term-borrowing costs, and renewed need for International Monetary Fund financing.

"This is a revised outlook from our previous projection of a rate cut during the new fiscal year. The revision comes despite BB Governor Mostqaur Rahman's reported preference for lower interest rates."

The agency says their new forecast primarily reflects Bangladesh's present economic circumstances, as they expect headline inflation will remain above the central bank's 6.5-percent target over FY2026/27, "hitting a high of 8.6 per cent".

"This is partly due to base effects created by low food-price inflation during H1 FY2025/26."

The Fitch outfit also expects the Iran conflict to contribute 0.13- percentage points towards headline inflation for the coming fiscal year through higher energy prices.

"Elevated inflation threatens the BB's price-stability mission, making a rate cut in FY2026/27 difficult to justify," it opines.

The report mentions that surging inflation in recent years has also eroded real wages in Bangladesh.

"This was particularly pronounced for industry-sector workers, which comprise 21 per cent of the economy's labour force. Although the salary declines slowed in 2025, this comes atop five consecutive years of falling real wages."Global economy analysis

It predicts that an uncontrolled supply-side shock to inflation will worsen this problem.

"This factor will make the BB even more cautious about cutting rates, which could cause inflation to run unchecked."

Falling long-term borrowing costs presents another reason for keeping the policy rate high.

The 10-year treasury yield has trended down since January 2025, despite the policy rate's elevated level. Over the same period, credit growth surged, driven by greater government lending.

"Apart from fuelling inflation, looser credit could also hasten financial flows towards lower-quality investments. This effect is probable given the fragility of Bangladesh's banking sector," the agency cautions.

Finally, it mentions, Bangladesh's government is seeking US$3.0 billion in financial support from the International Monetary Fund (IMF) and the World Bank.

"The government's spending needs are real. Aside from cushioning the blow of the Iran conflict on Bangladeshi households, Dhaka will probably have to recapitalise several banks as it reforms the financial sector."

However, IMF support is likely to be contingent on the government preserving a degree of macroeconomic stability.Bangladesh market report

Keeping monetary policy tight when economic conditions support such a move would preserve confidence among international investors over Bangladesh's medium-term prospects.

Singer Bangladesh Ltd reported a loss of Tk55.86 crore in the January-March quarter of 2026, despite posting modest year-on-year revenue growth.

According to its unaudited financials, the company's sales rose by 3.46% to Tk577.20 crore, up from Tk557.86 crore in the same period last year.

However, losses widened significantly from Tk35.89 crore in Q1 2025, reflecting mounting cost pressures and weak market demand.

Commenting on the Q1 financials, the company said that despite a slight increase in turnover, actual sales fell short of expectations due to a stagnant consumer electronics market.

"Domestic sales were stifled by high inflation, geopolitical tensions, and unfavourable weather, while the national election and extended Eid holidays further dampened demand," it said.

Although gross profit margins remained stable, Singer noted that rising costs could not be fully passed on to consumers due to strong price sensitivity in the market.

As a result, operating profit declined by 8.1%, driven by higher expenses related to rent, depreciation and salaries, amid broader economic struggle to balance the operational costs with subdued consumer durables demand.

The company also reported a sharp 41.4% increase in net finance costs, mainly due to nearly 50% higher interest expenses from increased short-term borrowing to support working capital and business expansion.

Additionally, the depreciation of the Bangladeshi taka against the euro led to foreign exchange losses on inter-company loans, the company said.

Sectors across Bangladesh are adjusting rates and restructuring costs in the wake of the government’s record fuel price hike, with freight charges from Chattogram port surging and consumer goods companies shrinking pack sizes and cutting trade margins to stay afloat.

On April 18, the government raised fuel prices to record highs -- diesel by Tk 15 per litre to Tk 115, octane by Tk 20 to Tk 140, petrol by Tk 19 to Tk 135, and kerosene by Tk 18 to Tk 130, with new rates taking effect at midnight.

The hike compounded a crisis that began in early March, when the outbreak of war in Iran pushed global energy prices higher and drove up transport costs before any official revision.

Already reeling from the supply disruptions due to the war, diesel-dependent industries, including agriculture, manufacture and transport, are now facing a double whammy. And in a highly inflated economy, the burden is likely to fall on customers soon.

FREIGHT RATES UP 30%

Transport fares between Chattogram port and destinations across the country have risen 25 to 31 percent since the April 18 hike, with rates remaining volatile for the past one and a half months.

When the Iran war began in early March, covered van fares from the port to Dhaka shot up from Tk 17,000 to a maximum of Tk 32,000. The rates later eased to around Tk 22,000 after Eid-ul-Fitr, only to climb again after the fuel hike.

On Tuesday, Ashis Chakraborty, owner of Chattogram-based clearing and forwarding agency AZ Trade International, hired five covered vans to transport imported fabrics, yarn, and chemicals for Mymensingh-based garment manufacturer PM Textile. It cost him Tk 29,000 per van.

PRAN-RFL Group, which relies on hired vehicles for around 40 percent of its cargo movement between Chattogram and its factories in Ghorashal and Habiganj, is absorbing similar increases.

Kamruzzaman Kamal, the company’s marketing director, told The Daily Star that covered vans now charge Tk 15,000 to carry export goods from Ghorashal to inland container depots in Chattogram -- Tk 3,000 above the previous rate.

Prime movers transporting import containers to the factories now cost up to Tk 42,000, compared to Tk 32,000 before the hike.

MOST MANUFACTURERS HOLD PRICES -- FOR NOW

On the manufacturing side, companies are deploying a range of measures to absorb the cost shock without immediately raising retail prices, though several have signalled that adjustments are becoming harder to avoid.

Many are resorting to shrinking the pack size. This is a classic example of “shrinkflation”-- which occurs when manufacturers shrink the package size, i.e., quantity of an item, without a corresponding price drop.

Tanveer Ahmed Mostafa, director of Meghna Group of Industries, said the severe global energy shock stemming from the Middle East conflict has directly hit the company’s costs from maritime freight to raw material procurement.

In a vertically integrated conglomerate like Meghna, such volatilities inevitably exert pressure on forward consumer outputs, he said, adding that the group is currently absorbing the pressure through internal cost-containment and supply chain optimisation.

“A price adjustment remains a possibility to ensure sustainable supply,” Mostafa said. “We are first exhausting all internal efficiencies.”

“While a price adjustment remains a possibility to ensure sustainable supply,” Mostafa said, for now they are “exhausting all internal efficiencies to keep” products affordable.

PRAN-RFL, a leading food processor and exporter, is holding the same position.

Marketing Director Kamal said, “The company is currently avoiding price increases despite rising fuel costs, as consumers are already under significant financial pressure from higher living expenses.”

Instead, PRAN is reducing trade margins and consolidating deliveries – minimising vehicle numbers, ensuring full-load shipments, and using larger vehicles where possible.

Increasing the maximum retail price, he said, “remains a last resort” and would only be considered if internal cost-control measures fail.

Unilever Bangladesh is also deferring any pricing decision, and is focusing on innovation and operational improvements to absorb costs.

Shamima Akhter, director of corporate affairs, partnerships and communications, said the company is prioritising operational efficiency and cost optimisation over immediate price increases.

Because many of its products are discretionary, she noted, price hikes risk reducing sales volumes.

She noted that global volatility, including higher fuel prices and increased raw material import costs, has already put pressure on production and distribution over the past two months.

Bombay Sweets, however, has moved more decisively. Khurshid Ahmad Farhad, the company’s general manager, said export prices have already been raised by 25 percent starting last month. In the domestic market, the company is adjusting on a product-by-product basis, either raising prices or reducing weights, but not both simultaneously.

Farhad described the April 18 hike as a second shock. Cost pressures had already been building, driven by sharp increases in raw materials, including chemical and petrochemical prices. When the latest price hike came, it pushed packaging costs up by 13 percent to 69 percent.

The company’s “Potato Crackers” product, retailed at Tk 10, has been reduced from 13 grams to 10 grams since the fuel hike. The change is already in the market. Farhad emphasized that increasing maximum retail prices further is difficult due to declining consumer purchasing power, making downsizing a necessary strategy.

“The company is currently prioritising survival over profit,” Farhad said. “Margins have already declined.”

FARMERS FACE A COSTLY HARVEST

The pressure is not limited to industry. Farmers are feeling the pinch during the Boro harvesting season. The surging diesel prices have made it costlier to rent harvesters. For instance, farmers in four haor districts of Sylhet depend on nearly 1,500 combine harvesters, which run on diesel, for bringing their crops home.

In Dingapota Haor in Mohanganj upazila, Netrokona, farmer Tofayel Khan cultivated Boro rice on 80 kathas of land this season, only for floodwater to submerge most of it before harvest.

He had to spend some Tk 660 per katha to harvest the remaining crops. Last season, the rate was Tk 550 per katha. “I am concerned about how to recover my losses.”

Bangladesh’s garment industry does not have overproduction capacity that could harm the American manufacturing sector and is free from forced labour, as exporters comply with internationally recognised labour laws, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The association made the remarks in a position paper submitted to the commerce ministry as the government prepares to attend a hearing of an investigation launched by the United States Trade Representative (USTR) on April 29.

The probe covers alleged overproduction capacity and forced labour in 60 countries, including Bangladesh.

Responding to the USTR’s “structural excess capacity” or “overproduction” concerns, the BGMEA said the terms do not have a universally accepted definition or measurable benchmark.

It argued that in a market-driven economy, production levels constantly adjust to shifts in demand, input costs and supply chain conditions. Determining “excess capacity” without clear parameters or methodology is a major challenge.

The association added that Bangladesh’s apparel sector has not expanded suddenly or in a way that would indicate structural excess capacity. The industry’s growth should be viewed over the long-term.

Over the past decade, the sector has followed a steady growth path, it said, driven by global demand and changing sourcing strategies rather than policy-induced expansion.

After more than four decades of development, Bangladesh exported garment products worth $39.3 billion in fiscal year 2024-25, accounting for nearly 7 percent of the global apparel market. It is now the world’s second-largest garment exporter after China.

In 2025, Bangladesh accounted for 10.73 percent of US apparel imports by volume and 10.53 percent by value, according to the American Apparel and Footwear Association (AAFA).

The BGMEA said the dominance of the sector in national exports shows structural constraints in economic diversification and reliance on a single industry, rather than excessive industrial capacity.

It added that the concentration of resources in apparel should be seen as part of a development pathway, not as evidence of overcapacity.

From a US perspective, the association said Bangladesh primarily exports labour-intensive, low to mid-priced apparel that is not produced in the US in significant volumes. In domestic production, the US focuses on advanced manufacturing and heavy industries rather than basic clothing items such as T-shirts and casual wear.

As a result, such imports do not adversely impact US manufacturing, but instead support consumers by providing affordable clothing, particularly for low and middle-income households, it added.

The BGMEA said Bangladesh’s role in the global apparel value chain complements the US economy.

It also said the government provides policy support, including cash incentives, to offset structural disadvantages such as inadequate infrastructure, longer lead times and limited backward linkage industries.

These factors add an additional seven to ten days of transit time and increase logistics costs, conditions that are not faced by competitors such as China, India and Vietnam.

On allegations of forced labour, the BGMEA said Bangladesh maintains a firm and unequivocal position that there is no forced labour in its export-oriented garment sector.

It said the industry operates under a strong legal and institutional framework that ensures compliance with national labour laws and internationally recognised standards.

Citing the official US Customs and Border Protection (CBP) dashboard, the BGMEA said 55 Withhold Release Orders (WROs) are currently active across all industries.

A WRO is a command by US Customs to stop, and hold imported goods at the border if they are suspected of being made with forced labour. A thorough review of the database confirms that there is no instance of any WRO issued against Bangladesh.

The European Commission will set out plans on Wednesday to cut electricity taxes and coordinate the summer refill of countries' gas storage, as it seeks to cushion the energy fallout from the Iran war.

Draft proposals seen by Reuters show the EU will, for now, avoid major market interventions such as capping gas prices or taxing energy companies' windfall profits - measures it used in 2022 when Russia cut gas supplies and prices hit record highs.

Instead, the Commission plans to curb EU tax rules to favour electricity over oil and gas, and make it easier for governments to cut industries' electricity taxes to zero, according to the drafts, which could still change before publication.

The EU would also step in to coordinate countries' efforts to fill gas storage in the coming months, and provide guidance on how governments should handle potential jet fuel shortages.

Europe's heavy reliance on oil and gas imports has left it exposed to spiralling prices since the Strait of Hormuz, a vital fuel shipping route, was effectively closed and Iran started attacking energy infrastructure in the Middle East.

Europe's benchmark gas price on Tuesday was roughly a third higher than before the US-Israeli war with Iran began on 28 February.

However, the EU's biggest oil and gas suppliers - the US and Norway - are outside the Middle East, and the Iran crisis has not yet triggered fuel shortages in Europe. Airlines have warned, though, that jet fuel shortages could emerge in weeks.

EU officials told Reuters the bloc's relatively restrained response reflects the fact that national governments, rather than Brussels, control many crisis-management levers, including subsidies and cutting national taxes and levies.

The Commission's plans outline non-binding ways for governments to provide "immediate relief", including requiring businesses to avoid air travel where possible.

Some officials said the response also reflects an assessment that the war-driven energy shock could last for months, making it prudent to hold back more extreme measures for now.

Elisabetta Cornago, assistant director at the Centre for European Reform think tank, said continued closure of the Strait of Hormuz "may lead us to a worse shock regarding oil than in 2022, a similar gas shock, but I think a smaller shock on electricity prices".

That's because countries have significantly expanded renewable electricity since 2022, she said.

The EU produced 71% of its electricity from low-carbon sources, including renewables and nuclear, last year, up from around 60% in 2022, data from think tank Ember showed.

Foreign buyers have begun scaling back export orders as concerns over Bangladesh's energy stability and "negative messaging" regarding fuel shortages rattle international markets, Bangladesh Chamber of Industries (BCI) President Anwar-Ul-Alam Chowdhury (Parvez) said today (22 April).

"Negative messaging is going out. I think we should be more careful in what we say. We keep saying we have fuel shortages and gas issues. Foreign buyers are now getting concerned. They are starting to say 'your country will not even have sufficient gas'," he said during a pre-budget discussion in the capital.

He noted that concerns over electricity supply and overall economic stability in Bangladesh are growing among international buyers. As a result, several sourcing companies are increasingly shifting orders to India and other competing markets.

According to him, expected purchase orders for July and August have slowed significantly, with multiple large buyers already expressing caution. While liaison offices in Dhaka are attempting to manage concerns, top-level management abroad is becoming more reluctant to place new orders.

"In the last one week, four major international companies told me that their top management is not approving orders because they fear there may not be reliable electricity in Bangladesh," he said.

He also warned that several global buyers have started sending similar signals, adding that the readymade garment sector could come under pressure if the trend continues.

Beyond energy concerns, Anwar-Ul-Alam pointed to global market volatility and domestic structural issues as additional reasons behind the slowdown in export orders.

He said the expected order flow for the upcoming July-August period has largely stalled.

He further criticised the existing tax framework for small entrepreneurs, calling it unrealistic under current business conditions.

According to him, the requirement to pay a minimum 1% tax regardless of profit or loss is becoming increasingly burdensome.

"If small entrepreneurs can be brought under a proper tax slab system, it would help them survive. Even when there is no profit, they are still required to pay tax, which is putting them under serious pressure," he said.

He also called for a reduction in withholding tax on export earnings.

The Dhaka Chamber of Commerce & Industry (DCCI) yesterday proposed reducing the corporate tax rate for non-listed companies to 25 percent from the current 27.5 percent in the upcoming budget for the 2026-27 fiscal year.

The proposal was part of a 54-point fiscal package the chamber submitted to the National Board of Revenue (NBR) yesterday, according to a press release.

Among the headline measures, DCCI urged raising the individual tax-free income ceiling to Tk 500,000, reducing advance tax on commercial imports from 7.5 percent to 5 percent, and removing the upper limit on VAT refunds.

It also proposed cutting the source tax on interest income from company security deposits from 20 percent to 10 percent and gradually abolishing the surcharge on companies’ net assets.

Convener of DCCI’s Customs, VAT, Taxation and NBR-Related Issues Standing Committee, MBM Lutful Hadee, said the proposals were aimed at expanding the tax net, reducing the cost of doing business, and stimulating investment in the manufacturing sector.

DCCI Acting Secretary General AKM Asaduzzaman Patwary proposed a central API integration system to close revenue gaps and reduce the deficit.

Responding to the proposals, NBR Chairman Md Abdur Rahman Khan said the board would prioritise easing non-tariff barriers over cutting tariff rates outright.

He said there would be no leniency towards tax evaders, while pledging to ease compliance burdens for honest taxpayers.

Khan added that fewer than 8 lakh businesses were currently VAT-registered, a figure he described as inadequate, noting the number should exceed 10 lakh given the country’s economic scale.

He said that corporate tax had already been reduced from 50 percent to 27.5 percent over time, leaving limited room for further cuts.

The NBR chairman added that online corporate tax return filing and digital refund systems would be operational from the coming fiscal year.

The DCCI acting secretary general presented the proposals at a pre-budget discussion held at the NBR in Dhaka, on behalf of DCCI President Taskeen Ahmed.

Japanese household and personal care giant Lion Corporation has begun production in Bangladesh, targeting a share of the country's 18 crore-strong consumer market.

The company, which dates back to 1891, entered the Bangladeshi market in 2022 through a joint venture – Lion Kallol Limited – with the local Kallol Group, in which it holds a 75% stake.

Commercial operations started last month at its factory in the Bangladesh Special Economic Zone in Araihazar, widely known as the Japanese Economic Zone.

The plant has begun production with two flagship products – Mama Lemon dishwashing liquid and Systema toothbrush – while the company plans to gradually expand its portfolio of household and personal care items.

A visit to the factory on 9 April showed a compact, elevated single-storey facility reflecting Japanese industrial discipline and efficiency. Product displays at the entrance featured a range of items, including Kodomo baby care products, Jet fabric-cleaning products, and oral care offerings.

Company officials said the investment reflects a long-term commitment to Bangladesh, aimed at strengthening local manufacturing, reducing reliance on imports and improving supply chains. The project is also expected to create jobs, facilitate technology transfer and support the development of ancillary industries.

"This new plant represents our long-term commitment to Bangladesh. It strengthens our supply capabilities and enhances our ability to deliver innovative, value-added products while contributing to healthier lifestyles and broader economic development," said Go Ichitani, chairman of Lion Kallol.

Lion Corporation, with more than 130 years of business operations, produces a wide range of everyday household and personal care products, including toothpaste and toothbrushes, detergents, soaps, hair and skincare products, and over-the-counter pharmaceuticals.

Its business operations are broadly divided into consumer goods, industrial products and overseas operations, with consolidated net sales exceeding ¥400 billion (around $2.52 billion) as of the 2025 financial year.

Apart from Bangladesh, Lion operates across Asia and other regions through subsidiaries and joint ventures in countries including India, Australia, Vietnam, Thailand, Malaysia, Indonesia, South Korea, China and Singapore.

As of 2025, the firm employs more than 8,000 people worldwide and continues to invest in research, digital transformation and environmentally friendly technologies as part of its long-term growth strategy.

Ghulam Mostafa, managing director of Kallol Group, said the partnership with Lion Corporation would bring advanced technologies and help raise quality standards in the local market.

Takashi Ochiai, director of factory operations, said the facility had been built with strong emphasis on quality assurance, workforce capability and manufacturing discipline, adding that it could also support export markets in the future.

Built on about 3.3 hectares inside the economic zone, the factory is equipped with modern production lines, quality control systems and environmentally compliant processes. The facility was designed and constructed by Shimizu Corporation.

Currently producing fast-moving consumer goods, the plant is expected to employ around 273 workers. According to officials from the Bangladesh Economic Zones Authority, the company has so far invested about $7.6 million, with plans to expand investment to around $19.41 million in the next phase.

Ashik Chowdhury, executive chairman of both the Bangladesh Investment Development Authority and the Bangladesh Economic Zones Authority, told The Business Standard that such investments send a strong signal to the market, noting that investor confidence has improved following the national election.

"Such large-scale investments create a positive signalling effect. We already have several major investment proposals in the pipeline," he said, expressing optimism about stronger inflows this year.

He added that employment generation and skill development remain central to economic zone strategies, with the government extending full support to investors.

Chiharu Tagawa, managing director of BSEZ Ltd, said three companies are currently in production in the zone, including Lion Kallol, while 12 firms have leased land, several of which have begun construction.

Investor interest has increased notably after the election, with fresh enquiries from foreign companies, he said.

A senior official of Lion Kallol declined to disclose sales or growth figures, citing confidentiality, but said the company's presence in Bangladesh is expanding through products focused on hygiene and family care.

"From Kodomo baby care to Mama Lemon dishwashing liquid and Systema oral care, we are proud to serve Bangladeshi households," the official said.

Asian stocks fell and oil prices rose Thursday as the United States and Iran appeared no closer to holding fresh peace talks and Tehran continued to refuse to reopen the Strait of Hormuz.

Hopes that the two would meet for a second round of negotiations in Pakistan have dissipated, with the Islamic republic targeting three container ships in the waterway and citing Washington's blockade as its reason for keeping it closed.

Investors have spent most of the week upbeat that a breakthrough to end the seven-week conflict will be made soon, while healthy earnings and a resumption of the AI trade has also provided support.

Crude prices jumped as much as four percent in early Asian business after global security monitors and Iran's Revolutionary Guards said Iranian forces had seized two ships and fired on a third in the Strait of Hormuz.

Tehran has said vessels must seek permission to leave or enter the Gulf through the waterway, which in peacetime accounts for around a fifth of the world's oil and gas exports along with other vital commodities.

However, the White House said Donald Trump did not consider the move to be a ceasefire violation because the vessels are not American or Israeli.

Meanwhile, Iran's parliament speaker said the Islamic republic would not reopen the Strait as long as the US naval blockade remained, calling it a "blatant violation" of the two countries' ceasefire.

"A complete ceasefire only has meaning if it is not violated through a naval blockade... Reopening the Strait of Hormuz is not possible amid a blatant violation of the ceasefire," speaker Mohammad Bagher Ghalibaf said on X.

Still, Trump's Press Secretary Karoline Leavitt said he "has not set a firm deadline to receive an Iranian proposal" for talks.

"Ultimately, the timeline will be dictated by the commander in chief," she told journalists.

Oil prices remained elevated, with Brent holding above $100 following a surge Wednesday, though they pared Thursday's initial gains.

Most equities fell, though, with Tokyo, Hong Kong, Shanghai, Sydney, Singapore and Wellington all down.

But Seoul rallied more than one percent to a new record thanks to a fresh rally in the tech sector that has been the backbone of a surge in the Kospi index this year.

Taipei, Manila and Jakarta were also up.

"Whether it's conflict fatigue or confidence that the conflict between the US and Iran will be resolved soon, there is limited evidence that the rise in the oil price dampened bond and equity markets," said National Australia Bank's Skye Masters.

However, she added that the Washington Post had reported a senior Defence Department warned it could take six months to fully clear the Strait of Hormuz of mines and that such an operation would probably not unlikely start before the end of the war.

"It is questionable whether financial markets are correctly pricing the reality that supply constraints will remain an issue for some time," she wrote.

Raphael Olszyna-Marzys, of Bank J. Safra Sarasin, added: "Financial markets are pricing a high likelihood that traffic through the Strait of Hormuz will soon normalise.

"Our game-theory model suggests that a narrow agreement to reopen the strait is in both parties' best interests. This outcome remains our base case. But it also reveals that a misreading of the other party's intentions could lead to a further ratcheting-up of tensions before we get there."

Investors took some heart from strong earnings reports, with South Korean chip titan SK hynix posting a nearly 400 percent jump in net profit that hit a record for January-March thanks to the artificial intelligence boom.

That came after Tesla announced forecast-topping first-quarter profits and Texas Instruments offered a healthy outlook.

Bloomberg said almost 80 percent of the S&P 500 firms that have reported first-quarter earnings had beaten analyst estimates so far.

Key figures at 0230 GMT

West Texas Intermediate: UP 0.7 percent at $93.65 a barrel
Brent North Sea Crude: UP 0.6 percent at $102.47 a barrel
Tokyo - Nikkei 225: DOWN 1.1 percent at 58,952.11 (break)
Hong Kong - Hang Seng Index: DOWN 0.9 percent at 25,926.59
Shanghai - Composite: DOWN 0.1 percent at 4,100.38
Euro/dollar: UP at $1.1710 from $1.1709 on Wednesday
Pound/dollar: DOWN at $1.3501 from $1.3506
Dollar/yen: DOWN at 159.41 yen from 159.49 yen
Euro/pound: UP at 86.73 pence from 86.70 pence

Retail sales in the United States soared past expectations in March, government data showed Tuesday, as gasoline prices surged on fallout from war in the Middle East.

Sales rose by 1.7 percent from the prior month to $752.1 billion, more than analysts expected -- its biggest jump in a year, Commerce Department data showed.

From a year ago, retail sales bounced 4.0 percent.

The acceleration came on the back of a 15.5 percent month-on-month increase in gasoline station sales, as energy costs climbed in March.

US-Israeli strikes targeting Iran from February 28 triggered Tehran's retaliation in virtually blocking the Strait of Hormuz, a key waterway for energy transit.

Since then, oil and gas prices have surged, and gasoline costs have risen in the world's biggest economy as well.

Steeper costs -- which have added pressure on households and businesses -- have in turn fueled fears of a broader inflation uptick, and an impact on consumer demand and growth.

Excluding gasoline stations, overall retail sales were up by just 0.6 percent on a month-on-month basis.

"The war-driven spike in gas prices drove the surge in headline retail sales in March," said economist Nancy Vanden Houten of Oxford Economics.

Beyond that, however, sales were likely boosted by "this year's surge in income tax refunds," she added in a note.

She warned: "The tailwind from a blockbuster refund season will fade soon, causing households to cut back on discretionary spending as energy costs remain high."

Chris Zaccarelli, chief investment officer at Northlight Asset Management, expects that further resilience in consumer spending would depend on the health of the jobs market.

Among other categories, sales at motor vehicles and parts dealers picked up by 0.5 percent from a month ago, while those at food and beverage stores climbed by 0.7 percent.

Load-shedding is expected to intensify in the coming days after a unit at Adani Power went offline early yesterday (22 April), slashing electricity imports by almost half and placing additional strain on an already stretched power system grappling with coal shortages and limited gas supply.

According to the Bangladesh Power Development Board (BPDB), a technical fault forced Unit-1 of the Adani Power plant to go offline at 1am yesterday, cutting electricity imports from roughly 1,500MW to 764MW.

The national grid remains under severe pressure as generation continues to fall short of the critical 15,000MW peak demand threshold.

Data from Power Grid Bangladesh shows that power generation reached only 13,198MW against a projected demand of 15,200MW at 1am yesterday.

The nearly 2,000MW deficit – aggravated by rising summer temperatures – mirrors a similar gap recorded last Monday and highlights the system's continuing struggle to stabilise supply.

The outages have disrupted industry and daily life, with rural communities facing the longest blackouts.

Load-shedding varies widely across regions, ranging from around 28% in Gazipur to more than 45% in Savar, while Sylhet is experiencing outages of about 40%. In many areas, electricity is going out several times a day for hours, with rural regions enduring outages lasting seven to ten hours.

BPDB chairman Md Rezaul Karim told The Business Standard the shutdown was caused by a bearing issue linked to the boiler's air preheater.

"Rising vibration in the air preheater bearing prompted the shutdown to prevent further damage," he said.

"Adani has informed us that it may take at least three to four days to bring Unit-1 back online," a BPDB official said.

Data from Power Grid Bangladesh shows that supply from Adani had already fallen to 1,109MW before the shutdown and dropped further to 764MW by 2am as only one unit remained operational.

Yesterday, peak demand during the day was projected at 15,450MW, while generation stood at only 13,112MW, leaving a shortfall of more than 2,338MW.

BPDB officials warned that the disruption in Adani supply could further widen the gap between demand and supply in the coming days.

April-May generation plan under strain

The BPDB had earlier planned to generate more than 17,500MW during April and May to meet peak summer demand. Under that plan, 5,600MW was expected to come from gas, 6,000MW from coal, 1,435MW from Adani Power, 3,500MW from liquid fuel and around 1,000MW through HVDC power imports.

Gas-fired plants – the backbone of Bangladesh's power system – are currently operating far below capacity due to gas shortages.

BPDB data shows gas supply to power plants stood at about 891.6 million cubic feet per day (mmcfd) on 21 April, producing between 4,600MW and 5,000MW of electricity.

Although installed gas-based capacity is around 11,000MW, actual generation rarely exceeds 5,000-5,100MW under current supply conditions.

Officials say that an additional 100-150mmcfd of gas could raise generation close to 6,000MW, but such an increase remains uncertain amid the continuing supply crisis.

Coal plants hit by supply shortage

Coal-fired power generation is also under pressure due to coal shortages. While the earlier plan aimed for 6,000MW from coal plants, actual output has remained far lower, hovering between 4,500MW and 4,600MW.

At 4pm yesterday, electricity generation from coal plants stood at 4,605MW.

The decline in output from the 1,320MW SS Power plant has also complicated efforts to manage load-shedding during the hot and humid days of April. The plant is currently operating below capacity because of a coal shortage, with one unit offline and another producing only about 300MW.

According to BPDB, SS Power is a reliable plant to meet summer demand, but coal shortage forced it to run under capacity. Officials said supply from the plant could improve next week after new coal shipments arrive, expected by Sunday.

One unit of the 1,320MW Patuakhali power plant is also operating below capacity, generating only about 300MW, while the second unit has yet to be commissioned.

Meanwhile, the 1,200MW Matarbari power plant is generating around 900-950MW.

Despite a plan to produce 3,500MW from liquid fuel-based plants, the BPDB has adopted a cautious approach to using furnace oil due to concerns over global fuel supply uncertainties.

Data from Power Grid Bangladesh shows that generation from heavy fuel oil (HFO) plants reached 2,944MW during the evening peak on 13 April.

Other sources and imports

Yesterday, the power generation mix included about 5,096MW from gas, 4,559MW from coal and around 900MW from furnace oil plants, along with smaller contributions from hydro, solar and wind.

Electricity imports included 922MW through HVDC links and 188MW from Tripura, in addition to about 751MW from the Adani plant after the disruption.

BPDB officials warned of a widening power deficit as shortages of gas and coal, coupled with the underutilisation of furnace oil-based plants, strain the grid.

With demand projected to climb in the coming weeks, officials further cautioned that outages could intensify nationwide unless fuel supplies stabilise and the Adani unit is swiftly restored to service.

The US-Israeli war with Iran and the closure of the Strait of Hormuz have caused the biggest oil supply disruption on record by daily output lost, though at least one earlier shock had a greater cumulative impact, according to Reuters calculations based on International Energy Agency and US Department of Energy data.

The IEA said on Tuesday that the conflict is the worst energy crisis the world has faced, when combined with the tail end of the European gas crisis caused ​by Russia's invasion of Ukraine in 2022.

The scale of the disruption has revived comparisons with past energy shocks, from the 1973 Arab oil embargo to the Iranian Revolution and the 1991 Gulf War, while underscoring how ‌much global energy markets have changed.

A DIFFERENT KIND OF ENERGY SHOCK

Unlike earlier crises, the Iran war has simultaneously hit crude, natural gas, refined fuel and fertiliser supplies, exposing new vulnerabilities created by decades of rising demand, deeper global trade links and the Middle East’s expanded role as a supplier of finished fuels.

Earlier energy shocks of the 1970s caused lasting economic damage, weakened governments and remain etched in the memory of citizens in industrialised nations such as the United States, which faced months of fuel supply shortages and queues at the gas pumps.

The IEA was established in the wake of the Arab ​oil embargo to advise industrialised countries on energy supply and security. The IEA also manages its members' emergency oil stocks and has responded to the crisis by releasing a record 400 million barrels from strategic stockpiles to stabilise oil ​prices and offset lost Middle Eastern supply.

HOW DOES THE CURRENT DISRUPTION COMPARE BY SCALE?

The peak supply loss from the current crisis stands at more than 12 million barrels per day, the IEA ⁠said earlier this month. That is equivalent to 11.5 percent of global oil demand, which this year is expected to average around 104.3 million bpd.

The outright daily supply loss is larger than earlier peak supply losses of 4.5 million bpd during the 1973-74 Arab ​oil embargo and of 5.6 million bpd during the Iranian Revolution in 1978-79 combined, the IEA said. It is also higher than the estimated peak supply losses of 4.3 million bpd during the 1991 Gulf War, the IEA said.

The Iran war has also triggered ​the shutdown of roughly a fifth of the world's liquefied natural gas production in Qatar. The world consumes much more gas than it did during the oil shocks of the 1970s-1990s. During the Arab oil embargo and the Iranian Revolution, the LNG industry was nascent. Qatar first exported LNG in 1996.

The current disruption also extends beyond crude and gas into fuel markets. The US-Israeli war on Iran has disrupted millions of barrels per day of fuel production and exports from refineries in the Gulf, triggering shortages of jet fuel and diesel. Huge refineries built inside the Gulf in recent decades ​are key to global fuel supplies. They send jet fuel to Africa, Europe and Asia, for example.

HOW DO DURATION AND LOSSES COMPARE WITH PAST SHOCKS?

The International Energy Agency did not immediately respond to a Reuters request for comment on how the current disruption ​compares with earlier energy shocks in terms of cumulative supply losses.

In the absence of official comparisons, Reuters assessed cumulative losses by calculating the scale and duration of major supply disruptions.

Based on that approach, the current conflict has lasted 52 days and removed an estimated 624 million barrels ‌from the market, ⁠assuming a loss of 12 million barrels per day over that period, according to Reuters calculations.

Even if a peace deal is reached quickly, supply disruptions are expected to persist for months and, in the case of gas, for years, pushing the final cumulative impact significantly higher.

The IEA says the 1978-79 Iranian Revolution resulted in a peak loss of 5.6 million bpd, smaller in scale than the current disruption. The revolution, however, led to a larger cumulative loss, according to Reuters calculations.

According to the US Department of Energy, the revolution caused an average drop of 3.9 million bpd in Iran's crude oil production from 1978 to 1981 - a loss of some 4.27 billion barrels over three years according to Reuters calculations - although the Energy Department says much of this loss was compensated by Iran's Gulf ​neighbours.

During this crisis, the countries with spare capacity - Saudi Arabia, the ​United Arab Emirates - have been unable to compensate - because ⁠they themselves have been hit by the halt in shipments through the Strait of Hormuz.

Oil journalist and author Ian Seymour estimates Iran pumped an average of 3.1 million bpd during 1979 compared to 6 million bpd in late 1978 - resulting in a cumulative loss of over 1 billion barrels in 1979 alone.

During the 1973-1974 Arab oil embargo, producers took three months to reach full production cuts ​of 4.5 million bpd. The embargo lasted from October 1973 to March 1974, resulting in around 530 million to 650 million barrels of lost production, according to Reuters calculations. That ​would mean the Arab oil embargo was ⁠comparable in its cumulative impact to the disruption caused by the US-Israeli war on Iran.

SHORTAGES IN ASIA, AFRICA

The current crisis has played out initially in shortages of supply to Asia and Africa. Top oil consumer the United States was much harder hit by the Arab oil embargo, which led to motorists enduring long lines for gasoline. The disruption lasted months and sparked an overhaul of energy policy and a rethinking of what constituted energy supply security.

The 1991 Gulf War, which disrupted oil output for four months according to a government document from ⁠IEA member Australia, resulted ​in a cumulative loss of at least 516 million barrels according to Reuters calculations assuming losses at 4.3 million bpd over that time, making the ​cumulative losses smaller than the current crisis and the Arab oil embargo.

Russia's invasion of Ukraine in 2022 triggered a global energy crisis as European countries scrambled to reduce their dependence on Russian oil and gas.

Russian oil output declined by 9 percent in April 2022, according to the US Energy Information Administration, or roughly 1 million ​bpd and much smaller than the current disruption. Russia's output stabilised in later months as Moscow rerouted exports to counter Western sanctions, although in 2026 Ukrainian drone attacks are causing output cuts.

A Norwegian-flagged vessel, Huelva Knutsen, carrying 60,000 tonnes of liquefied natural gas (LNG) from Nigeria, anchored at the FSRU terminal in Moheshkhali this morning (22 April).

Cargo unloading from the vessel began in the afternoon, said Nurul Alam, Deputy General Manager of local shipping agent Uniglobal.

He added that the unloading process may take two to three days to complete.

Meanwhile, the Chattogram Port Authority said another LNG-laden vessel, La Seine, carrying 69,196 tonnes of LNG from the United States, is expected to arrive at Moheshkhali on Friday (24 April).

Earlier, two LNG vessels arrived at Moheshkhali, one from Angola carrying 69,015 tonnes on 18 April, and another from Australia with 64,679 tonnes on 16 April.

India's textile exports increased by 2.1 % from Rs 3,09,859.3 crore in Financial Year 2024–25 to Rs 3,16,334.9 crore in FY 2025–26 with readymade garments being the top contributor, official data released today (22 April) said.

RMG exports rose from Rs 1,35,427.6 crore in 2024-25 to Rs 1,39,349.6 crore in 2025-26, an increase of 2.9%.

Cotton yarn, fabrics, made-ups and handloom products recorded exports of Rs 1,02,399.7 crore in FY 2025–26 as against Rs 1,02,002.8 crore in FY 2024–25, a growth of 0.4%, said the Textile Ministry of India.

Man-made yarn, fabrics and made-ups posted a stronger growth of 3.6%, with exports increasing from Rs 41,196.0 crore to Rs 42,687.8 crore.

Among value-added segments, handicrafts, excluding handmade carpets, recorded the highest growth among major categories, rising by 6.1% from Rs 14,945.5 crore to Rs 15,855.1 crore.

Export growth was registered in more than 120 destinations during April 2025 to February 2026 over the corresponding period of the previous year, indicating broad-based geographical expansion in India's textile export basket.

A notable growth has been observed in markets like the UAE (22.3%), the UK (7.8%), Germany (9.9%), Spain (15.5%), Japan (20.6%), Egypt (38.3%), Nigeria (21.4%), Senegal (54.4%), and Sudan (205.6%).

Prime Minister Tarique Rahman has said effective initiatives have been taken to introduce the much-anticipated online payment gateway PayPal to create large-scale employment through the expansion of information technology in the country.

He said this in response to a question from treasury bench lawmaker from Natore-4 Md Abdul Aziz in parliament on Wednesday (22 April), with Speaker Hafiz Uddin Ahmed in the chair.

The prime minister informed that a master plan has been adopted to issue identity (ID) cards to 200,000 freelancers over the next five years and to train several thousand youths in advanced technologies.

Tarique said various organizations and departments under the Information and Communication Technology (ICT) Division have undertaken multiple plans and activities aimed at generating employment through the expansion of IT.

He said the Department of ICT will impart training to 1,000 individuals over five years to develop them as freelancers and provide ID cards to 200,000 freelancers during this period.

A total of 7,500 freelancers have already been issued ID cards, and the programme is ongoing, he added.

The prime minister said 2,400 people will be trained in advanced technologies such as artificial intelligence (AI), machine learning (ML), and virtual reality in 2026 through the Bangladesh Hi-Tech Park Authority.

To accelerate investment and employment, 83 services are currently being provided online, with plans to add 10 more services within the next year, he said.

Tarique said a committee has already been formed to ensure the effective operation of hi-tech and software parks and ICT centres, and to take necessary steps for launching PayPal services in Bangladesh.

He said over the next five years, around 1,000 undergraduate and graduate students will receive IT training in 20 batches through the Bangladesh Computer Council (BCC).

Initiatives have also been taken to provide training to 5,020 job-seekers and students in areas such as AI, mobile app development, Python programming, data analytics, and cyber security, including short courses as well as one-year diploma and postgraduate diploma programmes, he mentioned.

The prime minister said initiatives have also been taken to provide basic computer training to about 700 persons with special needs to help them become self-reliant.

Additionally, around 700 women entrepreneurs will receive skills development training under the "Women in ICT Frontier Initiative" to create employment opportunities, he said.

Highlighting ongoing programmes, the prime minister said that under IT training initiatives, 300 students from 15 universities are currently receiving training in the April 2026 session.

He also noted that training has been completed for 40 persons with special needs in basic computer skills and for 20 women entrepreneurs in Wi-Fi-related skills development.