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.

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.

Bangladesh’s economy is facing renewed pressure from global geopolitical tensions and commodity market disruptions, with risks of elevated inflation, slower growth and mounting fiscal strain, according to Eric Robertsen, global head of research and chief strategist at Standard Chartered.

In an interview with The Daily Star, Robertsen said financial markets appear “overly optimistic” about a swift resolution of the ongoing Gulf tensions and the reopening of the Strait of Hormuz, a critical artery for global energy supplies.

If shipping resumes soon, it could take weeks or months for oil, gas and petrochemical supply chains to normalise, prolonging price pressures worldwide, Eric Robertsen said
He added that even if shipping resumes soon, it could take weeks or months for oil, gas and petrochemical supply chains to normalise, prolonging price pressures worldwide.

“Even when the Strait reopens, it will take time for exports to normalise and for supply chains to stabilise,” he said, adding that such shocks typically leave behind persistent economic damage across vulnerable economies.

He explained that governments tend to follow a predictable policy response during commodity crises, starting with subsidies to cushion consumers and businesses, followed by price caps, rationing and, in some cases, more aggressive interventions.

“What we have seen in this crisis is that many economies, particularly in Asia, have moved through all these steps very quickly,” he said, adding that such measures come at a high fiscal cost.

“There will be a negative impact on fiscal balances as governments step in to support their economies,” he added.

Robertsen also flagged rising risks of stagflation -- a combination of high inflation and weak growth, particularly for emerging economies like Bangladesh.

“The inflation impact is immediate in a commodity shock, but the hit to growth comes with a lag,” he said.

Bangladesh has been witnessing persistently high inflation for the last three years.

“Higher energy prices reduce disposable income and investment capacity, which ultimately weakens demand,” Robertsen said.

He cautioned that central banks face a difficult balancing act in such an environment.

“If policy tightening happens too early or too aggressively, it could worsen the growth outlook,” he said.

However, he noted a key relief factor in the current crisis: the absence of a sharp appreciation of the US dollar.

“This has not turned into a currency crisis, which is extraordinarily good news for central banks,” he said.

About the global outlook, Robertsen highlighted four key risks for emerging economies: higher inflation, weaker growth, potential policy missteps and deteriorating fiscal balances.

“For the next two quarters, there is a need to build a higher risk premium into both market expectations and economic forecasts,” he said.

He also pointed to a longer-term structural shift in the global economy.

“We are moving into a world where control over commodities becomes both an economic and geopolitical tool,” he said, citing recent examples of export restrictions on energy products and critical inputs.

“One of the key lessons is the importance of maintaining strategic reserves of oil and gas,” he said. “Many countries have learned the hard way that they were underprepared.”

As a result, he expects global energy prices to remain structurally higher even after the current crisis subsides.

Naser Ezaz Bijoy, the chief executive officer of Standard Chartered Bangladesh, said in the same interview that Bangladesh’s ongoing economic challenges have been building over several years.

“Bangladesh’s current challenges did not begin with the war. They started during Covid-19, followed by the Russia-Ukraine conflict, which created foreign currency pressures,” he said.

“There was a strong expectation that after the political transition, investment would pick up and economic activity would accelerate,” Bijoy said. “However, fresh external disruptions have continued to weigh on the outlook.”

He stressed that limited fiscal capacity remains a core constraint.

“Our tax-to-GDP ratio is weak, and revenue collection has been consistently low,” he said, warning that this leaves the country with less room to respond to shocks.

Government decisions to adjust administered prices, particularly in energy, are also adding to cost pressures.

“The government initially deferred price adjustments due to political sensitivities, but ultimately had little choice but to implement them,” he said, adding that such measures would inevitably affect both inflation and the cost of doing business.

At the same time, he emphasised that ensuring an uninterrupted energy supply is more critical than keeping prices low.

Bijoy also pointed to setbacks in external financing discussions. “The IMF negotiations did not progress as expected, which is another hurdle,” he said, adding that the issue would require high-level policy attention.

On the external sector, Bijoy said export performance has weakened in recent months, particularly in Europe.

“The decline in exports began around August,” he said, attributing it to softer demand, higher costs and intensifying competition from countries such as China and India.

Buyers are also changing sourcing strategies.

“They are increasingly diversifying and consolidating orders with larger suppliers who are better equipped to meet sustainability standards and manage risks,” he said.

Despite the slowdown, Bijoy does not foresee a sharp downturn. “We are seeing a modest dip in exports, around 4.5 percent, which may reach 5 to 5.5 percent. It is not a catastrophic situation,” he said.

Commercial banks' borrowing appetite continues to fall amid a squeeze in credit demand in the face of persisting economic sluggishness in recent months.Economy news updates

Apart from the private sector's lower credit demand, the Bangladesh Bank (BB) keeps injecting liquidity in the form of buying US dollars from the market to keep the exchange rate stable, which further cut commercial lenders' borrowing appetite, according to money market experts.

It ultimately helps banks, which often go for borrowing either from the interbank market or the central bank to meet their requirements, lessen their liquidity appetite and borrowing by overcoming the demand-supply mismatch.

According to the latest Bangladesh Bank data, the monthly volume of call-money transactions, through which banks make short-term borrowing within themselves, dropped to Tk 945 billion in March from Tk 1.47 trillion and Tk 1.06 trillion recorded in September and December last year, respectively.

The central bank repo is another major instrument through which banks can borrow funds from the regulator.

The data shows commercial banks altogether borrowed Tk 1.55 trillion in July last year, but monthly borrowing dropped to Tk 996 billion in September and Tk 1.08 trillion in December.

This further dropped to Tk 986 billion in March 2026.Bangladesh market report

On the other hand, through the special liquidity facility, under which there are seven borrowing windows like assured liquidity support (ALS), assured repo (AR), and Islamic Banks Liquidity Facility (IBLF), banks overall borrowed Tk 1.43 trillion from the central bank in July last year.

The monthly borrowing volume declined to Tk 603 billion and Tk 383 billion in September last year and March this year, respectively.

Seeking anonymity, a central bank official says the banking regulator kept purchasing US dollars from banks since July 13 last year to stabilise the taka-dollar exchange.

Under such forex-market intervention, the central bank has so far bought $5.68 billion from the market and injected more than Tk 650 billion into banks, he says.

"This intervention plays a major role in commercial banks' plummeting borrowing trend," he says.

In fact, he says, commercial banks now park their surplus liquidity in the central bank's deposit instrument called Standing Liquidity Facility (SDF) significantly despite lower gains at the rate of 7.50 per cent, while the call money rate is around 10 per cent.

According to the central bank data, the monthly volume of fund banks deposited in the SDF increased to Tk 578 billion in March from last December's count of Tk 424 billion.

Managing Director and Chief Executive Officer of Mutual Trust Bank Syed Mahbubur Rahman says the private sector's credit demand keeps plummeting, reaching 6.03 per cent by the end of February 2026.

He says industrial units are facing difficulties in their operation due to various factors like the energy crisis and the recent crisis in the Gulf countries worsened the situation further.

"So, the investment avenues of banks kept shrinking in recent months. That is why their borrowing appetite continues to drop," the experienced banker adds.

Picture a garment factory in Ashulia on a Tuesday morning. Machines hum, deadlines loom, and a buyer waits on a shipment. Then the power cuts out. The generator kicks in. Diesel is expensive and polluting. The factory absorbs the cost and carries on. This is not a crisis. This is Tuesday. Bangladesh’s energy crisis is the “common cold” of the RMG sector: chronic, underestimated and quietly debilitating. Painful, yet rarely dramatic enough to force action. The prescription is known, and the reforms are within reach, but the cost of inaction is no longer theoretical. What was once a logistical headache has become an existential threat.

On the factory floor, reality is harsher. Chronic gas shortages idle machines, delay shipments and raise costs. Global buyers are asking tougher questions about carbon footprints. With only 5.24 percent of installed capacity coming from renewables, we are not merely missing targets; we are risking competitiveness in a market that rewards reliability and sustainability. The country aims to generate 40 percent of its electricity from clean sources by 2041. Yet, of 32,345 MW total capacity, renewables account for just 1,695 MW. In more than a decade, the renewable share has risen by barely 3 percent, while investment has continued to favour fossil fuels. The energy mix is also unbalanced. About 82.7 percent of renewable capacity comes from solar, with minimal contributions from wind and hydro. Limited diversification leaves the grid exposed to supply and price shocks.

Industry is already paying the price. Gas shortages, often exceeding 1,300 MMCFD, mean factories receive well below the required fuel. To keep production lines running, many rely on diesel generators. That raises costs and erodes margins already squeezed by currency depreciation and global price competition. Energy insecurity is making Bangladeshi goods more expensive, precisely when buyers demand lower prices. The greater risk lies in compliance. The EU, our largest export market, is tightening environmental standards. Buyers increasingly link orders to carbon intensity.

Waiting until 2030 is not an option. Four shifts are urgent. First, enable private power. A Merchant Power Plant framework should allow producers to sell directly to large industries at market rates. The policy must be bankable and free of excessive open access tariffs. RMG hubs should be able to sign long-term power purchase agreements with solar and wind developers. Second, modernise the grid. The transmission and distribution network was not designed for variable renewable generation. Scaling up clean energy requires smart grid investment, faster net metering rollout and a clear modernisation roadmap with financing and timelines.

Third, remove fiscal barriers. The FY2025-26 budget cut import duties on solar panels and inverters to 1 percent, but mounting structures still face duties of 58.6 percent and battery storage remains heavily taxed. Duty relief must extend to all essential components so that fiscal policy aligns with national energy goals. Fourth, mobilise green finance. Bangladesh needs up to $980 million annually until 2030 to meet renewable targets, several times the current annual investment of $238 million. The Tk 200 crore single borrower cap under the Green Transformation Fund is too small for utility-scale projects. Developing a liquid green bond market and securing risk guarantees from development partners would help attract investment at scale.

The textile and RMG sectors must be central to energy policy. Policies detached from factory realities will fail. The priority must shift from announcements to implementation. Renewable energy is no longer a distant aspiration or a branding exercise. It is an industrial necessity. If we do not accelerate the transition now, we risk leaving our most vital sector behind as global trade shifts towards low-carbon production.

The writer is a former director of BGMEA and additional managing director at Denim Expert Ltd

US President Donald Trump said he would indefinitely extend the ceasefire with Iran to allow for further peace talks, although it was not clear on ​Wednesday if Iran or Israel, the US ally in the two-month war, would agree.

Trump said in a statement on social media the US had agreed to a request by Pakistani ‌mediators "to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal ... and discussions are concluded, one way or the other."

Pakistan's leaders have hosted peace talks in Islamabad to end a war that has killed thousands of people and shaken the global economy.

But even as he announced what appeared to be a unilateral ceasefire extension, Trump also said he would continue the US Navy's blockade of Iran's trade by ​sea, considered an act of war by Iran.

On my personal behalf and on behalf of Field Marshal Syed Asim Munir, I sincerely thank President Trump for graciously accepting our request to extend the ceasefire to allow ongoing diplomatic efforts to take their course.

With the trust and confidence reposed in, Pakistan…
— Shehbaz Sharif (@CMShehbaz) April 21, 2026

There was no response early on Wednesday to Trump's announcement from senior Iranian officials, although some initial reactions from Tehran suggested Trump's comments were being treated ​skeptically.

Tasnim News Agency, affiliated with the Islamic Revolutionary Guards Corps, said Iran had not asked for a ceasefire extension and repeated threats to break the US blockade ⁠by force. An adviser to Iran's lead negotiator, the speaker of parliament Mohammad Baqer Qalibaf, said Trump's announcement carried little weight and may be a ploy.

Trump's wartime rhetoric has veered between extremes. In an ​expletive-filled threat against Iran only two weeks ago he promised that a "whole civilization will die tonight", while at other times has appeared keen to end the violence and market uncertainty.

With his announcement, Trump again pulled ​back at the last moment from his threats to bomb Iran's power plants and bridges. United Nations Secretary General António Guterres and others have condemned those threats, noting international humanitarian law forbids attacks targeting civilians and civilian infrastructure.

NEXT PEACE TALKS UNCERTAIN

The US and Israel began the war on February 28 with aerial bombardments of Iran. The conflict quickly spread to Gulf states that host US military bases and to Lebanon once the Iran-allied militant group Hezbollah joined the fighting.

Israeli ​Prime Minister Benjamin Netanyahu has for decades sought to oust Iran's leadership, but Trump has given shifting and sometimes contradictory rationales for joining Israel to launch the war and how he foresees it ending, stirring confusion ​in global markets.

More than 5,000 civilians have been killed across the region and hundreds of thousands displaced so far, mostly in Iran and Lebanon, and the war has led to the virtual closure of the Strait of Hormuz, a ‌vital chokepoint in ⁠global energy markets between Iran and Oman, sending oil prices soaring and fears that the global economy could enter a recession.

Iran has repeatedly exploited its ability to control the passage of oil tankers and other ships in the strait in response to US and Israeli attacks.

Trump said in his statement he was willing to extend the ceasefire because "the Government of Iran is seriously fractured, not unexpectedly so," a reference to US-Israeli assassinations of some of the country's leaders in the war's first weeks, including the late Supreme Leader Ayatollah Ali Khamenei, who has been succeeded by his son.

A few hours before his announcement, Trump had told ​the CNBC news channel that he was not inclined ​to continue the temporary truce and the ⁠US military was "raring to go."

Those comments came as tentatively scheduled peace talks in Islamabad seemed on the verge of falling apart: US Vice President JD Vance, whose presence has been requested by the Iranians, had planned to return to Pakistan on Tuesday.

Before Trump's latest announcement, a senior Iranian official told Reuters that Iran's ​negotiators had been willing to attend another round of talks if the US abandoned a policy of pressure and threats, and rejected negotiations aimed ​at surrender.

Iran has condemned the ⁠US Navy intercepting and seizing two commercial Iranian ships at sea as part of its blockade, the second earlier on Tuesday, with its foreign ministry accusing the US of "piracy at sea and state terrorism." The US, joined by multiple other countries, has condemned Iran for impeding freedom of navigation in the Strait of Hormuz.

A first session of talks 10 days ago produced no agreement, with much of the focus on Iran's stockpiles of highly ⁠enriched uranium.

Trump wants ​to take the uranium out of Iran in order to prevent the country from enriching it further to the point ​where it could develop a nuclear weapon. Iran says it has only a peaceful civilian nuclear program and a sovereign right to continue that as a signatory of the nuclear weapons non-proliferation treaty.

The Chittagong Stock Exchange (CSE) has urged deeper collaboration and the deployment of Indian capital market expertise, particularly in promoting the commodity derivatives market.

CSE Managing Director M Shaifur Rahman Mazumdar made the call on April 19 when Rajeev Ranjan, assistant high commissioner of India, visited the port city bourse in Chattogram.

In a press release, the CSE said Mazumdar presented a strategic plan for Bangladesh’s capital market growth and diversification, highlighting opportunities for collaboration with India in several priority areas.

He sought cooperation in expanding other asset classes, positioning CSE as a multi-asset exchange, and invited Indian brokers and investors to explore opportunities in Bangladesh.

In his remarks, Ranjan said India has a wealth of experience in the capital market—expertise it is eager to share with Bangladesh.

By arranging joint technical sessions, specialized workshops, and knowledge transfer programs, Bangladesh can tap into India’s proven expertise to develop its financial market, particularly in commodity derivatives.

This, he noted, is an essential step for price discovery and risk management for Bangladeshi commodity stakeholders.

The Multi Commodity Exchange of India, a global leader in commodity derivatives, could serve as a blueprint for CSE once formal cooperation is established with the Securities and Exchange Board of India.

“India is fully committed to supporting Bangladesh’s ambitions. We see Bangladesh not only as a neighbor but as a true development partner, and we will walk this path side by side,” Ranjan added.

CSE Chairman AKM Habibur Rahman expressed hope for further strengthening bilateral cooperation in the development of Bangladesh’s capital market.

Despite official assurances of adequate fuel stocks, underpinned by Bangladesh Petroleum Corporation (BPC) data, long queues and intermittent supply disruptions continued at filling stations across the country yesterday.

While analysts and experts have proposed measures such as an odd-even rationing system and digital tracking to manage demand and ease pressure on pumps, proposals remain sidelined, leaving motorists to endure hours-long waits and sporadic "no fuel" notices.

In response to the strain, the BPC has announced a 10-20% increase in supply of diesel, petrol and octane, with 13,048 tonnes of diesel, 1,422 tonnes of octane and 1,511 tonnes of petrol being distributed daily through three state-run marketing companies. However, the retail situation has yet to stabilise.

On the ground, the supply boost has not fully translated into availability at pumps. While waiting times have eased slightly in parts of Dhaka and Chattogram, motorists across much of the country continue to face delays and uncertainty.

Imports and stock data show no shortage

According to port and BPC sources, between 28 February and 21 April, 823,170 tonnes of fuel arrived at Chattogram port in 26 shipments.

Of this, 624,452 tonnes came as diesel in 16 vessels, 124,087 tonnes furnace oil in six, 53,364 tonnes octane in two, and 21,266 tonnes jet fuel in two. A Singapore-flagged vessel, Hafnia Cheeta, carrying 32,000 tonnes of diesel from Malaysia, docked yesterday around noon.

Based on an average daily demand of 12,500 tonnes, diesel imports over 53 days could meet around 50 days of demand. With a 12-day opening stock in early March, total availability should have covered about 65 days, indicating no supply shortage.

For octane, the country had an 18-day stock at the start of March. Imports of 53,364 tonnes, against a daily demand of 1,200 tonnes, add 45 days of supply. Local refineries produce around 700 tonnes daily, adding roughly 37,000 tonnes or 30 days' supply. Combined, availability reaches about 93 days.

Despite these figures, retail-level disruptions have continued.

Mismanagement, panic and weak oversight

The strain began between 28 February and 6 March, when over 175,000 tonnes of fuel were sold in just seven days – more than double normal demand – rapidly depleting reserves. In response, authorities introduced rationing measures, after which long queues formed across fuel stations nationwide. Many motorists were forced to wait for hours and often returned without fuel.

According to Bangladesh Petroleum Corporation (BPC) and port sources, 26 vessels carrying 823,170 tonnes of fuel arrived at Chattogram between 28 February and 21 April. Of this, 624,452 tonnes were diesel, alongside furnace oil, octane and jet fuel shipments. BPC data show that, in theory, the combined stock and imports were sufficient to meet demand for extended periods.

Despite this, retail disruptions persisted, with officials announcing a 10–20% increase in daily fuel distribution to ease shortages. Yet filling stations continued to report uneven supply, shortened operating hours and "no fuel" notices.

Analysts attribute the crisis to distribution failures rather than supply shortages. They cite irregular withdrawals in early March, panic buying triggered by expectations of price hikes, and weak monitoring across depots and stations as key factors. Some fuel was reportedly hoarded, while portions may have been smuggled due to price gaps with neighbouring countries.

Former Eastern Refinery general manager Monjare Khorshed Alam said early excess demand was not contained. "If the excessive fuel supply during the first week had been controlled, the crisis would not have become so severe," he said, adding that expectations of price hikes encouraged stockpiling.

Energy expert Professor M Tamim pointed to gaps in monitoring and the absence of tracking systems, which allowed irregularities in distribution. He also criticised early signals of price increases, saying they intensified hoarding behaviour.

Experts suggest that tools such as app-based fuel tracking and odd-even number plate rationing could have helped stabilise supply and reduce congestion at pumps.

Commerce Minister Khandakar Abdul Muktadir today sought Australian investment in Bangladesh’s solar power generation sector to meet the growing domestic demand for electricity.

The minister made the call at a meeting with Australian High Commissioner in Bangladesh Susan Ryle at the minister’s secretariat office in Dhaka.

The two discussed strengthening bilateral trade, investment, and economic cooperation between Bangladesh and Australia, according to a statement from the commerce ministry.

The minister said his government has been working to create an investment-friendly environment and is particularly encouraging foreign investment in the renewable energy sector.

He added that revitalising existing industrial enterprises, establishing new industries, and generating employment are among the government’s current priorities.

The government has been activating industrial sectors with assets worth approximately $7 billion, and making them production-oriented through private investment is a key objective.

In this context, the minister invited increased Australian investment in Bangladesh’s solar power generation sector.

Ryle said bilateral trade between the two countries currently stands at around $5.14 billion and continues to grow steadily.

She highlighted significant potential for investment in Bangladesh, particularly in the energy sector—especially renewable energy.

A high-level Australian delegation is exploring opportunities for cooperation in green energy, innovation, and technology, the high commissioner also said.

She mentioned that around 28,000 Bangladeshi students are currently studying in Australia, making it one of the most important destinations for Bangladeshi students.

Both sides expressed interest in expanding cooperation in trade, education and scholarships, enhancing the capacity of officials of the Ministry of Commerce, and increasing collaboration in infrastructure development.

The conflict between Iran and the United States and Israel is creating the ​worst energy crisis ever faced by the ‌world, the head of the International Energy Agency (IEA) said on Tuesday.

"This is indeed the biggest crisis ​in history," Birol told France Inter ​radio in an interview broadcast on Tuesday.

"The ⁠crisis is already huge, if you combine ​the effects of the petrol crisis and the ​gas crisis with Russia," he added.

The war in the Middle East has choked up maritime traffic in ​the Strait of Hormuz, which is a ​conduit for a fifth of global oil and liquefied ‌natural ⁠gas flows.

It has also come on top of the effects of Russia's war with Ukraine, which had already severed Russian gas supplies to ​Europe.

Birol had ​said earlier ⁠this month that he viewed the current situation in global energy ​markets as worse than previous crises in ​1973, ⁠1979 and 2022 combined.

In March, the IEA agreed to release a record 400 million barrels of ⁠oil ​from strategic stockpiles to ​combat rising oil prices caused by the U.S.-Israeli war with ​Iran.

Assistant US Trade Representative (USTR) Brendan Lynch for South and Central Asia will visit Bangladesh soon, US Ambassador to Bangladesh Brent T Christensen said today.

The ambassador shared the information during a meeting with Commerce Minister Khandakar Abdul Muktadir at the commerce ministry’s secretariat office in Dhaka.

Trade experts believe the USTR may discuss various trade-related issues during the visit, as Bangladesh and the USA signed the Agreement on Reciprocal Trade on February 9 this year.

He comes to Bangladesh months after the USTR began investigations into production overcapacity in different sectors across 60 countries, including Bangladesh, and into forced labour practices.

In today’s meeting, various aspects of strengthening bilateral trade, investment, and economic cooperation between Bangladesh and the United States were discussed, according to a statement from the commerce ministry.

The US ambassador noted that expanding bilateral trade would be beneficial for both countries.

The commerce minister said his ministry, along with other relevant ministries, is working on formulating the new Import Policy Order. He expressed hope that the draft of the Import Policy Order 2026 would soon be shared with the business community for feedback.

Both sides expressed interest in further expanding cooperation in trade, investment, and policy matters, the statement read.

Bangladesh confronts a nearly trillion-taka record revenue shortfall in the bygone three quarters of this financial year, scaling up pressure on government's fiscal management.Bangladesh market report

Until March, the National Board of Revenue (NBR) had lagged behind its target by about Tk 980 billion, marking the largest deficit in the country's history for the July-March period.

Revenue officials say the gap was partly due to an upward revision of the target without adequate assessment of prevailing economic conditions, as the interim government raised the tax-revenue target from Tk 4.99 trillion to Tk 5.03 trillion for the first time.

Revenue growth remained weak, rising only 2.67 per cent in March.

Over the July-March period, the NBR had collected Tk 2.87 trillion against a target of Tk 3.85 trillion, leaving a deficit of Tk 979.90 billion.

None of the three major tax heads met their targets, with income tax posting a shortfall of Tk 400 billion, VAT Tk 340 billion and import duty Tk 229.73 billion.

Officials and analysts attribute the poor performance to sluggish business activity, declining imports, weak investment inflows, Middle East tensions, rising fuel prices and persistently high inflation.

The large shortfall is set to put further pressure on the new government to manage rising expenditures and secure external budget-support funds.Banking sector news

On Tuesday, Finance Minister Amir Khosru Mahmud Chowdhury held a meeting with Prime Minister Tarique Rahman discussing conditions tied to the loan from the International Monetary Fund (IMF) and the next course of action.

Under the original US$4.7-billion IMF loan programme, Bangladesh is required to increase revenue by at least 0.5 per cent of GDP annually, although the tax-to-GDP ratio declined by 0.66-percentage points last year instead of a coveted rise.

In the remaining three months of the fiscal year, from April to June, the NBR will need to collect about Tk 2.15 trillion, which translates into Tk 710 billion to Tk 730 billion per month, far exceeding the current monthly average of Tk 300 billion to Tk 370 billion. Professor Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue (CPD), says weak revenue mobilisation has forced the government to rely more on bank borrowing to meet expenditures, warning that a year-end shortfall now appears inevitable and describing the situation as worrisome.

"Although the government has started trimming development spending to contain the budget deficit and ease borrowing pressure, such measures cannot be sustained for long."

The revenue target for the next fiscal year, set at Tk 6.04 trillion, will be difficult to achieve unless the NBR intensifies efforts to reduce tax exemptions and identify new sources of revenue, the economist forewarns.Global economy analysis

He cautions that if the current shortfall persists, achieving nearly 50-percent growth in revenue mobilisation next year would be unrealistic under prevailing economic conditions.

The economist, however, welcomes government move to introduce property tax and inheritance tax in the upcoming fiscal year as a positive step.

Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday told Parliament that Bangladesh’s foreign debt stood at around $78 billion as of February 2026.

“According to the account up to February, 2026, the foreign debt of the Bangladesh government amounts to $78,067.20 million,” he said while replying to a starred question from independent lawmaker Rumeen Farhana (Brahmanbaria-2).Bangladesh economic indicators

Earlier, the Tuesday’s sitting of parliament started at 3:00 pm with Speaker Hafiz Uddin Ahmad, Bir Bikram, in the chair.

The finance minister said the Economic Relations Division (ERD) repays foreign loans on behalf of the government.

Each fiscal year, a projection is prepared to estimate the total expenditure for servicing foreign debt including both principal and interest, and necessary allocations are kept in the national budget.

Loan repayments are being made from the budgetary allocation throughout the year following a scheduled plan.

In reply to a scripted question from treasury bench member Md Shamsur Rahman Simul Biswas (Pabna-5), Khosru said that the government received a total of $85,992.64 million (nearly $86 billion) in foreign loans from 2008–09 fiscal year to 2025–26 fiscal year.

During the same period, the government repaid $22,328.47 million in principal and $8,696.82 million in interest, he said.

As of December 30, 2025, the foreign debt stood at $77,279.12 million ($77 billion), said Amir Khosru.

He told the House that from the 2007–08 fiscal year to February of 2025–26, the government borrowed a total of $87,396.03 million and repaid $22,050.79 million in principal.

“As a result, the country’s foreign debt amount increased by $65,346.24 million during this period,” the minister added.

Recovering defaulted loans is a more complicated process for banks than one might think. The verdict for a case with a financial loan court takes years. But when a bank gets the verdict in its favour, it cannot yet go and auction the mortgaged properties to recover the loan defaulted. It must then file another case – called an execution case – for that purpose and this takes another few years before being disposed of.

While the original case itself may take 5-10 years to conclude, the execution case required to enforce the verdict in a bank's favour and sell the mortgaged assets also takes several more years.

Bank officials say this "double legal process" significantly prolongs and complicates loan recovery, causing banks to incur substantial losses as they pursue legal procedures for years.

Experts in banking law argue that the provision requiring a separate execution case after obtaining a verdict should now be amended. In many countries, court rulings on defaulted loans can be directly enforced without requiring a separate process.

According to Supreme Court statistics, 33,406 such execution cases are currently pending in courts (joint district judge courts) across the country, involving approximately Tk57,000 crore in bank dues. Among these, 1,108 cases have been pending for over a decade, involving more than Tk10,000 crore. Nearly 14,000 cases have been pending for over five years, involving about Tk22,000 crore.

As of December last year, around 78,000 cases involving over Tk2,50,000 crore in defaulted loans were pending in financial loan courts.

How execution cases drag on for years

In one case, ARM Food Ltd took a Tk57 crore loan from a Janata Bank branch in Narayanganj in 2004. After the loan defaulted, the bank filed a case in 2009, claiming about Tk94 crore with interest. In 2016, the court ruled in favour of the bank, allowing the mortgaged property to be auctioned.

To enforce the verdict, the bank filed an execution case in July 2016. However, the case remains unresolved, preventing the auction of nearly two acres of land and a house held as collateral.

A lawyer for the bank said the original case took about seven years to resolve, while the execution case has remained pending for nearly a decade due to a High Court stay order obtained by the borrower.

Legal complications

Experts say execution cases follow nearly the same legal procedures as the original cases. After filing an execution case under Sections 26, 27, and 28 of the Financial Loan Court Act, 2003, the court issues notices asking why the mortgaged property should not be auctioned.

Defaulters often exploit legal loopholes to delay proceedings, taking years to respond to summons and using influential lawyers to prolong hearings. Although the law requires execution cases to be resolved within a month and auctions to be conducted within 15 days, this is rarely followed in practice.

Defaulters also frequently file writ petitions in the High Court, which often issues stay orders and rules asking why the execution case should not be dismissed. These rulings remain unresolved for years, effectively halting the original execution process.

Extent of High Court stays

According to Supreme Court sources, as of February, 4,809 out of 33,406 execution cases, involving over Tk13,000 crore, are currently stayed by the High Court. Among them, 806 cases have remained stayed for more than five years.

In another case, LSG Leather Products defaulted on a Tk39 crore loan from AB Bank in 2008. The court ruled in favour of the bank in 2017, but the execution case was stayed by the High Court in 2018. Since the rule issued by the court remains unresolved, the mortgaged property cannot be auctioned.

What could be the solution

Former Bangladesh Bank deputy governor and former AB Bank chairman Mohammad A (Rumi) Ali said in countries such as the US, the UK, Switzerland, Singapore, and Malaysia, court verdicts in loan recovery cases are directly enforced by relevant authorities without requiring separate execution cases.

He noted that Bangladesh's current system – where a verdict must be followed by another case and then routed through district administration – is unnecessarily complex and needs reform.

He added that the shortage of judicial manpower already delays case disposal, and requiring a separate case for enforcement only worsens the situation. Simplifying the process would benefit both banks and borrowers as prolonged delays increase liabilities for borrowers due to accumulated interest and penalties.

Advocate Ahsanul Karim, a constitutional and company law expert, told The Business Standard that the law was enacted in 2003 – nearly two decades ago – but has yet to be updated to meet present-day needs. He said that once a law is enacted, it should be revised periodically in line with changing realities.

He noted that the Money Loan Court Act is widely applied and closely tied to the country's overall economic system. Due to various minor flaws in the law, banks face significant difficulties and incur unnecessary costs and delays. Therefore, he emphasised that amending the law has now become an urgent necessity.

The National Board of Revenue (NBR) fell short of its nine-month tax collection target by nearly Tk 1 lakh crore, leaving it needing to mobilise over Tk 2.60 lakh crore in the final quarter of fiscal year 2025-26 (FY26).

Provisional data released yesterday showed collections of Tk 2.87 lakh crore during July-March, an 11 percent rise year-on-year, but well below the pace required to meet the full-year target of Tk 5.54 lakh crore.

Analysts say it is highly unrealistic to expect that the board will succeed in collecting nearly half of the full-year target in three months.

The board has consistently missed its annual target every year for over a decade. Yet in late November last year, the interim government revised the target upward from Tk 4.99 lakh crore, following strong first-quarter collections.

The revenue weakness is playing out against a deteriorating economic backdrop.

The country’s GDP growth slowed to 3.03 percent in the second quarter of FY26, down from 3.53 percent in the same period last year. Defaulted loans in the banking sector have reached Tk 5.45 lakh crore as of December 2025.

Finance Minister Amir Khosru Mahmud Chowdhury told parliament this month that the tax-to-GDP ratio has fallen from around 11 percent to below 7 percent, and that businesses are “in bad shape.”

More recently, the impact of the US-Israel war on Iran has been draining the state funds as the government was forced to buy fuel oils at high prices. Bangladesh imports about 95 percent of its energy, and state agencies have increasingly been forced onto the volatile spot market.

“The mounting costs are bleeding the exchequer,” the minister said on the sidelines of the IMF-World Bank Spring Meetings in Washington last week, citing nearly $2 billion in additional energy import costs following supply disruptions.

“On top of that, the tax-to-GDP (ratio) is not increasing because of business stress, the businesses are in bad shape,” he said, adding that if businesses do not recover, tax receipts will not improve.

He said the government has sought budget support from development partners and is pursuing structural fixes. It has prepared an action plan targeting a trillion-dollar economy by 2034, built around investment, employment and macroeconomic stability.

Amid consistent revenue shortfall, the government has turned sharply to borrowing. Net deficit financing reached Tk 1.05 lakh crore during July-February, up 67 percent from Tk 63,040 crore in the same period last year. Of that, Tk 88,309 crore came from the banking system.

Zaidi Sattar, chairman of the Policy Research Institute (PRI) and head of the National Taskforce on Tax Restructuring, said fiscal space has effectively closed.

“The gap between current expenditure and revenue means there is little to no surplus available to support development spending,” he said, adding that the Annual Development Programme (ADP) will likely depend almost entirely on deficit financing in the upcoming budget.

He warned that domestic borrowing carries serious risks. “It creates serious challenges, including fuelling inflation and potentially crowding out private sector investment,” he said.

Without fundamental reform in revenue administration, any substantial increase in collections is “almost impossible”.

Abdur Razzaque, chairman of Research and Policy Integration for Development (RAPID), said weak imports will further dampen revenue in the final quarter.

“If the government depends heavily on banks, it will affect credit flow to the private sector,” he said, warning that without revenue growth, more extreme measures such as money printing could not be ruled out.

Describing the broader pattern, Razzaque said, “The revenue target is not binding, it’s aspirational. We set targets and repeatedly fail to meet them. We are stuck in a Catch-22.”

“Big budget, big revenue deficit, and the NBR failing to raise revenue -- this is the typical Bangladesh story,” he added, noting that despite talk of reforms, “we are not seeing the momentum or a firm commitment.”

He mentioned the IMF’s recent decision to withhold a loan instalment, citing that the country has failed to implement agreed reforms in the revenue and banking sectors.

This decision by the multilateral lender adds to the country’s pressure. “It sends a signal about reform commitment, and other development partners take such signals seriously,” Razzaque said.

Within the July-March figures, VAT from domestic activity was the largest contributor at 38 percent of total collection, rising 13.66 percent year-on-year to Tk 1.09 lakh crore. Direct taxes accounted for 33.5 percent, climbing 11.25 percent to Tk 98,501 crore, while import tariffs grew more modestly at 7.77 percent to Tk 80,223 crore.

Facing mounting pressure, the NBR is eyeing structural changes for next year. Speaking at a pre-budget discussion earlier this month, NBR Chairman Md Abdur Rahman Khan pledged to strengthen enforcement to curb tax evasion and gradually reduce existing tax exemptions aiming to raise revenue collections.

He informed that the board is considering a range of measures to strengthen revenue collection in the upcoming fiscal year 2026-27 (FY27), including the reintroduction of a wealth tax, a new inheritance tax, higher rates for the ultra-rich, and a rationalisation of existing tax exemptions.

“We are exploring the possibility of reintroducing a wealth tax,” Khan said at the event, noting that Bangladesh had such a levy from 1963 until it was abolished in 1999.

A committee has been formed to examine the matter.

Khan added that the NBR is weighing the introduction of an inheritance tax, at least on a limited scale, with a focus on high-value property transfers.

On tax exemptions, Khan signalled a gradual shift away from the status quo. “We are committed to gradually phasing them out and bringing beneficiaries into the regular tax regime.”

The NBR also plans to raise the top marginal income tax rate for ultra-rich individuals from 30 to 35 percent, a measure tentatively set for FY28.

More immediately, he said the NBR is considering raising the tax rate for individuals earning over Tk 1 crore annually by around five percentage points from FY27.

Commuters in Dhaka and across the country are being forced to pay increased bus fares despite no official announcement regarding fare adjustments following the recent increase in fuel prices.

This unregulated spike has triggered widespread frustration, often leading to heated altercations between conductors and passengers, with reports of passengers being forcibly offloaded for protesting the hikes.

Passengers said buses are charging an additional Tk5 to Tk10 for short distance travel, while for long-distance, some operators are demanding Tk200 to Tk250 above the usual rate.

They also said a significant portion of the city's buses operate on CNG, but fares are being hiked based on diesel price hike, raising questions about the legitimacy of the adjustments.

Shamim Hossain, who regularly travels on the Rangpur-Jaldhaka route, said the fare was previously Tk95 but has now increased to Tk100, with transport workers citing higher fuel prices.

Meanwhile, visits to bus terminals found that fares on the Dhaka-Moulvibazar route have increased from Tk570 to Tk620. Passenger Nur Nabi Mostafa said buses on the Dhaka to Cox's Bazar, Chattogram and Sylhet routes are charging an additional Tk100 to Tk200.

The Bangladesh Road Transport Authority (BRTA) is responsible for determining the fares for non-AC buses and minibuses. As per official regulations, the fare for long-distance buses is fixed at Tk2.12 per kilometer.

In the Dhaka metropolitan area, the rates are Tk2.42 per km for buses and Tk2.32 per km for minibuses. However, passengers said these rates are rarely followed.

Back in August 2022, the government increased the price of diesel by 42% to Tk114 per liter. Consequently, bus fares were raised by BRTA to a maximum of Tk0.40 per kilometer. However, diesel prices were later reduced in three phases to Tk100 per litre, but fares were not lowered.

Transport operators said the fare structures fixed in 2022 are no longer commercially viable. They cited rising operational costs driven by currency depreciation and the soaring prices of spare parts.

According to passenger welfare groups, transport owners failed to implement either of these reductions.

Md Mozammel Haque Chowdhury, secretary general of Bangladesh Jatri Kalyan Samity, told the media that some transport owners are raising fares before any formal decision, putting pressure on passengers. He urged a participatory process to set fair fares and proposed a Tk 0.15 per kilometre increase.

Amid the situation, Prime Minister's Adviser for Information and Broadcasting Zahed Ur Rahman said the government is working to rationalise transport fares in alignment with fuel price changes. Speaking at a briefing yesterday (21 April), he said that discussions are ongoing to reach a balanced decision.

The government on Saturday raised diesel prices to Tk115 per litre, octane to Tk140, and petrol to Tk135, marking increases of Tk15 per litre for diesel, Tk20 for octane, and Tk 19 for petrol.

The next day negotiations between transport operators and the BRTA hit a deadlock, as owners demanded a comprehensive fare hike reflecting broader economic pressures, while the regulator insisted on capping increases strictly to rising fuel costs.

Stocks staged a moderate recovery today (21 April) as bargain hunters returned to the Dhaka bourse, lifting the benchmark index after two consecutive sessions of decline, although lingering geopolitical tensions in the Middle East continued to cap stronger gains.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), rose 24 points to settle at 5,257, while the blue-chip DS30 index advanced 4 points to close at 1,984. Market breadth turned positive, with 215 issues advancing against 108 decliners, reflecting renewed investor participation across sectors. Turnover also picked up momentum, jumping 13% to Tk929 crore, indicating improved trading activity.

According to EBL Securities, the market rebound was largely driven by opportunistic investors taking positions in beaten-down stocks at attractive valuations. The session began on a positive note with active participation from both buyers and sellers, but sustained buying interest throughout the day helped the market close firmly in the green, offsetting intermittent selling pressure.

The improved participation suggests cautious optimism among investors, who are gradually returning to the market amid expectations of economic recovery. However, analysts noted that the lack of any near-term resolution to ongoing Middle East tensions continues to weigh on sentiment, preventing a stronger rally. The geopolitical uncertainty has disrupted the market's earlier recovery trajectory, which had been supported by domestic political stability.

Sector-wise, trading activity was dominated by engineering stocks, which accounted for 16.1% of total turnover, followed by textile and general insurance sectors. The sectoral performance remained mixed, with life insurance, IT and general insurance posting notable gains, while cement, financial institutions and mutual funds experienced slight corrections.

Among individual stocks, City Bank, Acme Pesticides, Dominage Steel, Summit Alliance Port and Khan Brothers PP Woven Bag led the turnover chart, highlighting investor focus on both financial and manufacturing scrips.

On the gainers' side, BD Lamps, Nahee Aluminum, Samata Leather, Agni Systems and Ring Shine Textiles recorded strong price appreciation, while International Leasing, FAS Finance, Peoples Leasing, IFIC Bank First Mutual Fund and Shurwid Industries were among the major losers.

Meanwhile, the Chittagong Stock Exchange also ended the session higher, with its key indices posting modest gains, although turnover remained relatively low at Tk33.29 crore.

Bangladesh's export of vegetables, fruits, and processed agricultural products to the Middle East, Europe, and other destinations is facing severe disruption as cargo airfreight costs have nearly doubled following the ongoing war between Iran, the United States, and Israel.

Exporters say shipments have dropped sharply, while costs have become uncompetitive in global markets.

According to exporters, airfreight charges have surged across all major destinations. Shipping agri products to the Middle East now costs Tk180-280 per kg, up from Tk120-140 before the conflict. For Europe and the United Kingdom, the cost has jumped to Tk620-650 per kg from Tk400-450 earlier. Freight charges to other destinations have also nearly doubled.

Prior to the war, it cost about $2,800 to ship a container of vegetables and fruits to the Middle East. Now, the cost has risen to around $6,200-6,400, making exports increasingly unviable.

Exporters also say securing cargo space has become significantly more difficult, further disrupting supply chains.

Export slump pushes farmers into losses

Mohammad Kanchan Mia, proprietor of Arot Agro BD, who exports vegetables, fruits, and dry foods to multiple regions including the Middle East, Europe, Malaysia, and Singapore, said his business has been severely affected.

He normally operates 9-10 shipments per month but managed only one potato container in March. "Due to the war, airfreight rates have increased so much that exports have almost dropped to zero," he said.

Mushtaque Ahmad Shah, proprietor & CEO of Shah Traders, said air freight charges have doubled within a month, making bookings nearly impossible. He added that exporters from India are not facing similar increases and continue exporting at previous rates. "If this continues, exports will fall to near zero. Our freight charges are being increased every few days," he said.

Md Shahid Sarker, another exporter, said Bangladesh is losing competitiveness. He noted export costs from India are Tk200-250 per kg and lower in Pakistan, while Bangladesh pays nearly Tk700 per kg.

"It is impossible to compete with them," he said, adding that products are now being sold at lower prices in the domestic market due to halted exports.

Mango export fears rise ahead of peak season

Bangladesh exports agricultural goods worth around $1 billion annually, but recent data shows a sharp decline. According to the Export Promotion Bureau, vegetable exports fell by 45% in March compared to last year. During the same period, dry food exports dropped by 19.40%, spices by 12.74%, and beverages, spirits, and vinegar by 34.36%.

Concerns are now mounting ahead of the May-September mango export season. Exporters say rising freight costs could severely impact shipments of mangoes and jackfruits, which are cultivated under strict Global Good Agricultural Practices (GAP) standards and have high production costs.

Mohammad Hafizur Rahman of the Bangladesh Fruits, Vegetables and Allied Products Exporters Association said exports have "almost come to a halt," adding that freight to London has reached nearly Tk600 per kg from under Tk400 earlier.

Mushtaque Ahmad Shah said Bangladeshi mangoes previously received strong demand, including at a fruit fair in Qatar, but current conditions have halted initiatives. "At current freight rates, it is simply impossible to compete with India and Pakistan," he said.

According to the Department of Agricultural Extension, mango exports stood at 2,194 tonnes last year, down from 3,100 tonnes in 2023 and up from 1,321 tonnes in 2024.

Officials say discussions with airlines and civil aviation authorities are planned ahead of the mango season to address cargo fare issues.

Abu Noman Faruq Ahmmed, professor at Sher-e-Bangla Agricultural University, warned that rising production costs combined with lack of export opportunities are discouraging farmers.

Prof Faruq, also a registered trainer of GLOBAL GAP, said without reducing freight costs, Bangladesh will struggle to remain competitive in global markets.

Unilever Consumer Care Limited, a multinational company listed on the capital market, posted a decline in both its top and bottom-line revenue performances during the first quarter of 2026.

The net profit of the company dropped 12% year-on-year to Tk12.11 crore in January-March this year, weighed down by sluggish sales. Consequently, earnings per share (EPS) for the three-month period stood at Tk6.29.

According to the company's unaudited financial statements for the January–March period, the total revenue of Unilever slipped by 8% to Tk87.44 crore compared to the same period a year ago.

The revenue decline was observed across its core product categories ranging from health and food drinks including flagship brands like Horlicks, Boost, and Maltova – dropping by 9% to Tk71.81 crore. Similarly, its glucose powder segment saw a 4% decline, bringing in Tk15.62 crore.

In its final financial statement, a leading player in Bangladesh's health and nutrition segment Unilever Consumer Care Limited attributed the drop in profitability primarily to lower net finance income and a marginal contraction in its gross margins. However, the management noted that these negative impacts were partially offset by strategic cost-optimisation initiatives within its operating expenses.

At the end of March 2026, the company's net asset value (NAV) per share stood at Tk 122.58 while the net operating cash flow per share was recorded at Tk10.74.

Following the disclosure of these results on the websites of the Dhaka and Chittagong stock exchanges, the company's share price inched down by 0.32% to settle at Tk2,070.90 on Tuesday.

The recent performance follows a 420% cash dividend recommendation for the 2025 financial year, which was notably lower than the 520% dividend declared in 2024. The proposed payout is scheduled for final approval at the upcoming Annual General Meeting on 18 May.

Unilever Consumer Care, formerly known as GlaxoSmithKline (GSK) Bangladesh, underwent a significant transition in 2020 when Unilever acquired GSK's local health food drink business for approximately Tk2,000 crore. Since the acquisition and subsequent name change, the company has operated as a subsidiary of Unilever, focusing on its dominant market share in the energy and nutrition drink segments.

Ring Shine Textiles, a "Z" category company listed on the Dhaka Stock Exchange (DSE), has decided to take an interest-free loan from its sister concern, Lark Textiles, to repay its high-interest bank liabilities.

The decision was approved during a board meeting held on Monday and subsequently disclosed on the DSE website today (21 April).

Following the disclosure, Ring Shine's share price jumped 8.82% to close at Tk3.70.

Under the plan, Ring Shine will borrow Tk9.5 crore from Lark Textiles to settle outstanding dues with Eastern Bank Limited. The loan will carry a 10-year tenure, with repayments scheduled to begin in 2027 through ten equal annual instalments.

Ring Shine management hopes that replacing high-interest bank debt with interest-free funds will significantly reduce its interest burden and bolster its net income.

The company also noted that it has secured certain financial concessions from the bank under a debt rescheduling facility.

The implementation of this plan remains subject to shareholder approval, which the company intends to seek through an upcoming extraordinary general meeting (EGM) or annual general meeting (AGM).

The development comes as Ring Shine continues to grapple with severe financial distress. Since its 2019 listing, the company has declared dividends only in its debut year, failing to reward shareholders over the past six years.

The company's track record has also been marred by regulatory controversies. An earlier probe by the Bangladesh Securities and Exchange Commission (BSEC) uncovered major irregularities in its initial public offering (IPO), where a substantial number of shares were allotted without actual payment. Those shares were later sold, causing significant losses for general investors.

These beneficiaries later offloaded their shares, leaving general investors to face substantial losses.

Currently, Ring Shine is struggling with a mounting debt burden and poor operational performance.

Its last disclosed financial report for the January–March of FY26 quarter showed a staggering loss of over Tk46 crore.