Sammilito Islamic Bank has received nearly Tk5,000 crore from Bangladesh Bank to repay deposits, while customers have sought to withdraw Tk3,925 crore over the past four working days. A senior Bangladesh Bank official confirmed the figure to The Business Standard.

Since 1 September, around 74,221 customers have applied to withdraw Tk3,925 crore. Applications stood at 18,046 worth Tk1,329 crore on the first day, 19,613 worth Tk1,016 crore on the second, 21,086 worth Tk923 crore on the third and 15,476 worth Tk657 crore on the fourth.

Md Abedur Rahman Sikder, managing director of Sammilito Islamic Bank, said, "Figures are much lower than our expectations, which shows customer trust and confidence in us".

He said the bank had adequate preparations at branches of its five constituent banks and applications had declined gradually. The bank has nearly Tk10,000 crore in its current account with Bangladesh Bank, of which Tk5,000 crore was transferred today (6 September) to the five banks' accounts.

"The government owns this bank. Customers will transact with this bank with the same confidence they have in other state-owned banks," the official said.

Customers withdrawing before maturity will receive only the principal, while those keeping deposits until maturity will receive profits as agreed. They can withdraw cash or transfer funds to other banks through RTGS.

The official said adequate funds had been supplied to branches and there was no reason for depositors to be concerned.

Withdrawals begin tomorrow
Individual depositors can withdraw principal from Al-Wadiah current, Mudaraba savings, MTDR, DPS and other accounts. The bank accepted applications until today to complete cash and branch preparations and will begin payments tomorrow (7 September).

Customers keeping accounts open will continue receiving profits at agreed rates; once operations fully resume, deposits and withdrawals, including profits, will be allowed without limits. The Bangladesh Bank's Bank Resolution Department issued the directive on 31 August.

Formed under the interim government after Exim, Social Islami, First Security Islami, Global Islami and Union Bank failed to return deposits amid irregularities and fraud allegations, Sammilito Islamic Bank has 7.6 million depositors with Tk1.42 lakh crore in deposits.

Its loans total Tk1.92 lakh crore, 86% of which are in default, while capital shortfall exceeds Tk1.5 lakh crore.

The state-owned bank began operations last November with Tk40,000 crore authorised and Tk35,000 crore paid-up capital, including Tk20,000 crore from the government and Tk15,000 crore to be issued as depositor shares.

Companies will not be shut down solely because of graft allegations against individuals, Finance Minister Amir Khosru Mahmud Chowdhury told parliament today (6 September).

"If there are allegations of corruption against an individual, a case can be filed against that person and they will be tried according to the law. But a company's operations cannot be shut down because of an individual," he said.

Khosru made the remarks in response to a supplementary question from Noakhali-6 lawmaker Abdul Hannan Masud during the question-and-answer session in parliament over the provision of new loans to S Alam Group, which has been accused of loan default.

The session was chaired by Deputy Speaker Kayser Kamal.

The finance minister said individuals and companies are separate legal entities, noting that a company is a legal and corporate entity with employees, loans, liabilities and an economic contribution.

Referring to S Alam Group, he said those accused of corruption were not being spared.

"Cases are being filed against them and the trials will continue. But before shutting down any company, we also have to assess its impact on the country's economy. An economy does not run on emotion. It has to run on law," Khosru added.

He further said Bangladesh Bank was not providing loans to anyone in violation of the law. "Companies eligible for loan rescheduling can avail themselves of the facility in accordance with the law."

Khosru also reiterated that individuals accused of corruption would continue to face trial.

Per capita public debt Tk1,29,239

In response to a question from Kushtia-1 lawmaker Reza Ahmed, Khosru said per capita public debt stood at Tk1,29,239 as of 31 March 2026.

He said the government was focusing on increasing revenue collection, improving public financial management and strengthening debt management to reduce the debt burden on citizens.

The government is also seeking to reduce its reliance on borrowing by increasing domestic revenue, while lowering financing needs through more cost-effective and productive public spending and controlling unnecessary expenditure, he said.

Bangladesh borrowed $81.83 billion from abroad

In response to a question from Cox's Bazar-3 lawmaker Lutfor Rahman, Khosru said Bangladesh had borrowed $81.83 billion from abroad between 2010 and June 2024.

During the same period, the government repaid $17.11 billion in principal and $6.04 billion in interest on its external debt.

Asian wheat importers, including Bangladesh, have bought at least half a million metric tons of Australian and Argentinean wheat in recent deals, three trade sources said, as buyers scramble to replace Black ​Sea cargoes delayed by attacks on vessels and grain export infrastructure.

Importers in the region, including ‌Indonesia, the world's second-largest wheat buyer, are paying sharply higher prices for alternative supplies, they said, with several countries relying heavily on imports to meet domestic demand.

"There have been bulk deals in the last one week to 10 days for ​Australian as well Argentinian wheat to fulfil urgent needs," said one Asian-based trader at an international ​trading company which supplies wheat to millers in the region.

"Importers are trying to take ⁠alternative shipments for cargoes that have not arrived from Russia and Ukraine."

Global wheat importers are facing tight supplies ​as Russian and Ukrainian attacks on ports and vessels have disrupted grain terminals, forcing shippers to delay or ​cancel loadings of dozens of cargoes during the peak export season.

US agricultural commodity group ADM said on Wednesday that a drone strike on August 31 damaged its UEP grain terminal at the Ukrainian Black Sea port of Odesa.

Buyers paid around $315-$330 per ton, ​including cost and freight, for Australian Premium White wheat, while deals for Argentinean wheat were concluded around $310-$315 ​per ton, traders said.

This compares with most Black Sea cargoes booked around $260 to $280 per ton for August-September arrivals.

Benchmark Chicago futures ‌have climbed ⁠about 35% since late June, fuelled largely by a shortfall in Black Sea supplies, while cash prices have jumped across rival exporters Argentina, Australia and the United States.

CBOT wheat reached its highest level in 3-1/2 years on Tuesday after reports Moscow had rejected a moratorium on attacks in the Black Sea region and ​launched overnight strikes on Ukrainian ​port infrastructure.

Grain processors in ⁠Asia have booked about 2.0 million to 2.5 million tons of Black Sea wheat for July-September shipment, or about 30% to 50% of import demand. Yet growing ​shipping delays have fuelled concerns that a portion of the grain may fail ​to reach ⁠buyers.

Besides Indonesia, other Asian buyers of Black Sea wheat include Bangladesh, Vietnam, Malaysia, Thailand and Sri Lanka.

While buyers are securing bulk volumes of Australian and Argentine wheat, some have turned to container shipments to meet immediate needs, ⁠traders said.

"Some ​millers are preferring containers as they have agreed with suppliers to ​further delay the arrival of Black Sea cargoes," said a second Asia-based trader. "They don't want to take on too much exposure to ​high prices, so they are using containers to meet their immediate needs."

Non-performing loans (NPLs) at six state-owned banks stood at Tk1.47 lakh crore at the end of June, with Janata Bank alone accounting for more than half of the total.

Janata Bank topped the list with Tk75,396 crore in NPLs, followed by Agrani Bank at Tk29,029 crore, Rupali Bank at Tk19,281 crore and Sonali Bank at Tk15,048 crore. BASIC Bank had Tk8,131 crore, while Bangladesh Development Bank had Tk888 crore in NPLs.

Finance Minister Amir Khosru Mahmud Chowdhury disclosed the figures yesterday in reply to a question from Jamaat MP Md Abdul Alim of Bagerhat-4 during the parliamentary session chaired by Deputy Speaker Kayser Kamal.

According to the latest Bangladesh Bank data, the banking sector's total NPLs reached Tk6,06,555 crore at the end of June, accounting for 32.78% of total loans. NPLs rose by Tk17,851 crore from Tk5,88,704 crore three months earlier.

Loans waived for 14 lakh farmers

In reply to Chuadanga-4 MP Md Ruhul Amin, the finance minister said loans, including interest, of 1,434,482 farmers who had borrowed up to Tk10,000 were waived between the government's assumption of office and July 2026.

The government paid Tk1,352.74 crore to banks to settle the waived loans.

Bangladesh has resolved 48 of 61 non-tariff barriers identified in bilateral trade with the European Union (EU), while work is underway to address the remaining 13, Commerce Minister Khandakar Abdul Muktadir said today (6 September).

He disclosed the information at a joint press briefing at the Commerce Ministry in Dhaka following a meeting with officials of the EU Delegation to Bangladesh.

EU Ambassador Michael Miller, Adviser to the Finance and Planning Ministry Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Shama Obaid, State Minister for Planning Zonayed Abdur Rahim Saki and senior officials of the commerce and foreign ministries attended the briefing.

The commerce minister said the EU had earlier raised concerns over several non-tariff barriers affecting bilateral trade. Of the 61 issues identified, 48 have been resolved, while efforts are continuing to address the remaining 13.

He said an EU delegation led by the bloc's ambassador had raised several specific trade-related obstacles in March after the government took office.

Since then, coordinated efforts involving the National Board of Revenue (NBR) and the agriculture, fisheries and livestock, and shipping ministries, among others, had helped resolve most of the issues.

Among the barriers addressed were complications over licence renewals for 100% foreign-owned logistics companies, an increase in the annual limit for importing commercial samples from $10,000 to $20,000, and customs valuation issues involving scanning smart cards used for export traceability.

The minister also said Bangladesh had formally sought EU support for its proposal to defer graduation from the least developed country (LDC) category by three years.

He expressed hope that the EU would support the proposal and that it would eventually be approved.

Muktadir said the issue is expected to come up for a decision at the 81st session of the United Nations General Assembly this month.

He said Bangladesh had therefore sought EU cooperation in support of the proposal.

The minister added that recommendations from the UN Committee for Development Policy (CDP) and the Economic and Social Council (ECOSOC) regarding the deferment proposal had been positive.

Preparations are also advancing for talks with the EU on a free trade agreement (FTA) and an investment protection agreement.

EU Ambassador and Head of Delegation Michael Miller said the European Commission had responded positively to Bangladesh's formal proposals for both agreements.

He said joint technical discussions could begin as early as this week once the necessary approvals from EU member states are completed.

Miller said a transparent, stable and competitive business environment would be necessary to deepen economic cooperation between Bangladesh and the EU.

He added that both sides would benefit from greater transparency and fair competition in public procurement.

The ambassador also expressed hope that discussions on Airbus procurement would move forward as part of efforts to expand aviation and trade cooperation between Bangladesh and the EU.

Responding to a question on imports from the United States, the commerce minister said Bangladesh makes import decisions based on national interest, economic rationale and public need.

He said government procurement decisions involving energy, including LNG, and foodgrains are approved after considering competitive prices, product quality and wastage rates.

Bangladesh's trade policy is not driven by the influence of any particular country, he said, adding that the country's economic interests and public welfare remain the main considerations behind such decisions.

Bangladesh's per capita debt stood at Tk1,29,239 as of 31 March 2026, Finance Minister Amir Khosru Mahmud Chowdhury told parliament today (6 September).

He disclosed the figure in response to a question from Kushtia-1 lawmaker Reza Ahmed during the question-and-answer session in parliament.

The finance minister said the government was prioritising higher revenue collection, efficient management of public finances and disciplined debt management to reduce the debt burden on citizens.

The government is also taking steps to reduce its reliance on borrowing by increasing its own revenue, while seeking to lower financing requirements through more cost-effective and productive public spending and by curbing unnecessary expenditure, he said.

Khosru said the government was also placing greater emphasis on debt management to keep the country's borrowing requirements under control.

In another response to question from Cox's Bazar-3 lawmaker Lutfor Rahman, Khosru said Bangladesh had borrowed $81.83 billion from abroad between 2010 and June 2024.

During the same period, the government repaid $17.11 billion in principal and $6.04 billion in interest on its external debt.

Import-export activities between Bangladesh and India through Hili land port in Dinajpur resumed yesterday after remaining suspended for six days due to an indefinite strike by Indian traders.

Md Anwar Hossain, deputy director of the Customs Preventive Department at Hili land port, confirmed the resumption of activities to BSS around 4:30pm yesterday.

The activities resumed after Indian traders withdrew their indefinite strike at noon yesterday following assurances from the Indian government and administration.

With the reopening of the port, business activities have returned to normal, bringing renewed bustle among traders, customs officials, transport workers and others associated with the port.

Md Shahinur Islam Mondal, general secretary of the Hili Customs C&F Agents Association, said many traders at Hili in India had been suffering financial losses as the port was lagging behind other land ports in West Bengal in terms of commercial competition.

He said a section of the traders had decided to suspend import-export activities indefinitely over the issue, resulting in a complete halt to the movement of goods between the two countries through Hili land port for the past six days.

By 4:30pm, five trucks carrying imported Indian goods had entered Bangladesh through the port.

After the resumption of trade, Bangladeshi cargo trucks also started entering India, while trucks carrying various goods from India began entering Bangladesh. Arrangements were made for the immediate unloading of imported goods, and cleared consignments were transported to different parts of Bangladesh by local trucks, port authorities said.

Meanwhile, SI Md Zakaria, officer-in-charge of Hili Immigration Checkpost, said the movement of passport-holding passengers between the two countries had remained normal despite the suspension of import-export activities.

He said passenger movement through the immigration checkpost was continuing smoothly.

A new option for Bangladesh’s long-term LNG import infrastructure has been proposed, with Novatek Middle East presenting a $950 million gravity-based structure (GBS) as a cheaper and longer-lasting alternative to a conventional land-based LNG terminal.

The company presented the concept to Petrobangla yesterday. The proposed facility would be built in the Bay of Bengal as a fixed offshore terminal for receiving, storing and regasifying imported LNG (liquefied natural gas), with a regasification capacity of 7.5 million tonnes per annum (MTPA).

According to Novatek’s presentation, the GBS would cost about $950 million, compared with an estimated $1.2 billion for a conventional 7.5-MTPA land-based terminal. This would make the offshore option about $250 million, or 21 percent, cheaper in initial capital costs.

However, the figures are based on the company’s own estimates and have not been independently verified. They have also not been compared with the government’s feasibility study for the planned 7.5-MTPA land-based LNG terminal at Matarbari.

The proposal remains at a very early stage, and Novatek has not yet submitted a formal proposal.

“It was a very preliminary-level presentation. We have learned from them. We would discuss it later with the higher-ups,” a top Petrobangla official told The Daily Star.

OFFSHORE STRUCTURE COULD OFFER LONGER LIFE

The main difference between the proposed GBS and a conventional LNG terminal is where the infrastructure is located.

A land-based terminal keeps LNG storage tanks and regasification facilities on the coast, with LNG carriers unloading through marine facilities. A GBS would instead place the storage and regasification facilities offshore on a large reinforced-concrete structure fixed to the seabed. The gas would then be sent to the national grid through a subsea pipeline.

Both systems perform the same basic functions: receiving LNG, storing it, converting it back into gas and supplying it to the gas network.

Novatek has identified deep-sea areas around Moheshkhali and Matarbari as possible locations.

The company estimates that a GBS could be built in 30 to 36 months and have a design life of 60 to 80 years. A conventional land-based terminal would take about 48 to 60 months to build and have a design life of 40 to 60 years.

An FSRU (floating storage and regasification unit), meanwhile, could be deployed in 24 to 30 months but would have a design life of only about 15 years, according to the presentation.

Bangladesh currently imports LNG through two FSRUs at Moheshkhali and plans to add a third. The government has also revived efforts to develop its long-delayed 7.5-MTPA land-based LNG terminal at Matarbari.

The GBS proposal could therefore offer another option as Bangladesh faces a persistent gas shortage, declining domestic gas production and growing dependence on imported LNG.

Recent disruptions at the country’s FSRUs have also exposed the vulnerability of LNG import facilities to technical problems and adverse weather. Reduced LNG send-out during such disruptions has further squeezed gas supplies to power plants and industries.

TWO DESIGNS AIM TO WITHSTAND SEVERE WEATHER

Novatek has proposed two GBS configurations. The larger one would have gross LNG storage capacity of about 290,000 cubic metres, while the smaller one would hold about 194,000 cubic metres.

Both would have 7.5 MTPA of regasification capacity, 1 MTPA of LNG bunkering capacity and 42MW of captive power generation capacity. The larger structure would also be capable of receiving the world’s largest LNG carriers, according to the presentation.

Weather resilience is one of the main advantages claimed for the technology. Novatek describes the GBS as a stationary, all-weather terminal with “very high” resistance to cyclones. FSRUs, by comparison, can face operational disruptions from strong winds, high waves and currents.

These claims, however, would need to be tested for the proposed site. The presentation itself calls for a detailed study of weather and marine conditions, including extreme winds, waves, storm surges, currents, seabed conditions and the safe berthing and transfer of LNG carriers.

The main GBS facility would not require coastal land, according to the proposal. Some onshore infrastructure would still be necessary, however, to connect the subsea gas pipeline to the national transmission network.

The technology draws on GBS structures developed by Russia’s Novatek, which has used large concrete gravity-based structures for its Arctic LNG 2 project.

The application in Bangladesh would be different. The Arctic LNG 2 structures house LNG production and liquefaction facilities, while the proposed Bangladesh facility would receive imported LNG, store it and convert it back into gas for domestic use.

‘Virtual pipeline’ and regional hub planned

The proposal also includes a second phase in which small, shallow-draft vessels would transport LNG from the offshore terminal to riverbank facilities near Meghnaghat, Ashuganj, Ghorashal and Bheramara.

Novatek calls this a “virtual pipeline” that could supply major gas-consuming areas without relying entirely on the existing pipeline network.

The idea comes as the government is also exploring the use of ISO tanks from Malaysia to transport LNG to gas-starved areas outside the main gas network.

ISO tanks would carry LNG in standardised cryogenic containers by road or other transport modes and would serve relatively small volumes. Novatek’s proposed system, in contrast, would move much larger volumes using dedicated LNG vessels to riverbank regasification facilities.

Novatek also sees the GBS becoming a regional LNG transhipment and bunkering hub. The presentation identifies potential shipments from Bangladesh to India, Pakistan, Sri Lanka, Vietnam, Malaysia and Indonesia using small and medium-sized LNG vessels.

Novatek has proposed an investment model based on foreign direct investment, but the presentation does not provide details on the commercial structure, tariffs, financing costs or expected investor returns.

A severe wave of panic selling gripped the Dhaka Stock Exchange (DSE) yesterday, dragging all indices sharply into the red, with 89% of stocks declining and market capitalisation falling by Tk6,781 crore.

Intensifying risk-averse sentiment and aggressive sell-offs by both institutional and individual investors pushed DSEX, the broad market index, down by over 103 points to close at 5,558, according to bourse data.

Market participants attributed the sharp fall to the ongoing countrywide utility crisis, particularly involving gas and electricity, which has severely dampened investor confidence and driven investors to the sidelines to protect their portfolios from further erosion.

They also pointed to unexpected intervention by the stock exchange regarding large buy and sell orders, which has unsettled major individual investors, prompting many to stay on the sidelines out of caution.

According to DSE data, this is the first single-day fall of over 100 points in DSEX since the new commission assumed office in June.

On 5 April, DSEX had lost 107 points; since then, the index has seen volatility, but declines had not exceeded 100 points until yesterday. Two and a half months earlier, DSEX had stood at 5,554 points on 22 June, according to data.

Following that, the benchmark index gradually climbed to the 5,900 mark as investor participation rose slightly on hopes surrounding the new chairman and commissioners assuming office at the regulatory body.

However, since 11 August, DSEX has lost 345 points, while market capitalisation has plunged by Tk17,065 crore as market sentiment and investor participation deteriorated due to the issue of changing in margin rules and other factors.

Saiful Islam, president of the DSE Brokers Association of Bangladesh, told TBS, "Overall investor confidence remains shaky due to the worsening energy crisis, with no immediate solutions in sight."

He added, "We have received allegations regarding stock exchange interference in large buy and sell orders. We have taken this seriously, discussed the matter with regulators, and are trying to resolve the issue."

He said due to the alleged market interference, some large investors may have moved to the sidelines. "We are talking with regulators to solve the issue," he stated.

When asked about the nosedive in indices and turnover, Abul Kalam, spokesperson for the Bangladesh Securities and Exchange Commission (BSEC), said the current regulator does not interfere in the market, noting that the market experiences ups and downs driven by the forces of demand and supply.

"We did not detect any suspicious trading in our surveillance regarding the decline in the market. It is normal trading," he said.

89% stocks price down

As per data of the DSE, an 89% stock price declined as massive sell-offs gripped the market since the beginning of the trading sessions yesterday.

Of the traded 389 stocks, 348 stocks prices declined, while 20 advanced and 21 remained unchanged. Of the advanced stocks, mutual funds dominated the gainer chart.

Trading session started on a positive note but did not sustain after two minutes as heavy sell-offs dumped rapidly with panic selling accelerating between 12pm and 2pm yesterday as stop-loss triggers and margin pressures forced investors to offload holdings.

Analysts attribute this sharp pullback to persistent macroeconomic uncertainty, institutional profit-taking, and a lack of fresh triggers to rebuild investor confidence in the short term.

EBL Securities in its daily market commentary said, the capital bourse suffered the brunt of intense selling pressure in the opening session of the week, dragging the benchmark index down by more than 100 points to a two and a half month low, as the market pulse swiftly shifted to a bearish tone amid prolonged uncertainties over a nationwide gas and electricity crisis, along with apprehensions over a sharp downturn in corporate earnings.

"From the outset of the session, the broad index remained on a downward trajectory as sector-wide sell-offs swept across the trading board, reflecting widespread risk aversion among investors. The relentless selling spree intensified in the latter half of the session, triggering broad-based erosion across equities and further weighing on investors' already battered portfolios, it said.

On the sectoral front, Textiles sector accounted for the highest share of turnover by 28.8%, followed by General Insurance 14.2% and Pharma 11.2%.

All the sectors posted negative returns, where General Insurance, Textile and Paper exhibited the most corrections on the bourse.

The port city bourse, CSE, also ended in negative terrain. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) lost 88.1 points and 171.0 points, respectively.

Shares of Aamra Networks Limited plummeted by 10.60% today (6 September), hitting a multi-year low after the company recommended a nominal 1-paisa dividend for its general shareholders for the fiscal year ended 30 June 2025.

The sharp decline in the stock price followed the removal of standard price limits (circuit breakers) for the session, a typical regulatory procedure following a corporate dividend declaration.
According to a price-sensitive statement filed with the Dhaka Stock Exchange (DSE), the company's board recommended a 0.10% cash dividend, equivalent to Tk0.01 or 1 paisa per share. The payout is exclusively for general shareholders, while sponsors and directors, who collectively hold 3.07 crore shares, will receive no dividend. The total payout to public shareholders' amounts to just Tk6.22 lakh.

The announcement triggered heavy selling, sending the share price down to Tk17.70 from its previous close.
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The investor backlash comes on the heels of a disastrous financial report. For FY25, Aamra Networks reported an earnings per share (EPS) of just Tk0.13, a massive drop from the Tk2.46 recorded in the previous fiscal year.

The company's liquidity position has also turned critical. Its net operating cash flow per share (NOCFPS) swung to a negative Tk0.69 from a positive Tk2.72 a year earlier, while its net asset value (NAV) per share edged down to Tk36.14.

Management attributed the collapse in profitability to a combination of falling sales and rising operating costs. However, a senior official at Aamra Networks, speaking on condition of anonymity, revealed a deeper systemic crisis.

"The company is grappling with an acute fund shortage primarily because our corporate clients have failed to clear significant dues for services rendered. This has essentially crippled our cash flow and operational flexibility," the official said.

Aamra Networks has been struggling to regain its market standing since being downgraded to the 'Z' or junk category in February 2025 after failing to disburse an approved 10% dividend for FY24

The company also faces further administrative hurdles. As it failed to hold its Annual General Meeting (AGM) within the legally mandated timeframe, it must now seek High Court permission to convene the meeting and finalise the 1-paisa dividend.

The record date for the dividend has been set for 24 September 2026.

Shares of Sharp Industries PLC have plunged 56% in 16 trading sessions on the Dhaka Stock Exchange (DSE), following a sharp rally that prompted the Bangladesh Securities and Exchange Commission (BSEC) to order an investigation into the company's abnormal share price movement and trading activities.

According to DSE data, the share price fell from Tk44.10 on 12 August to Tk19.50 today(6 September), losing Tk24.60, or nearly 56%, in 16 trading sessions.

The decline came after the stock had more than doubled in value in less than two months. On 15 June, the share was trading at around Tk17. It subsequently surged to Tk44.10 on 12 August, gaining Tk27.10, or around 156%, in nearly eight weeks.

Following the unusual rise in the share price and trading volume, the BSEC instructed the DSE to investigate the company's trading activities. Earlier, the DSE had sought an explanation from Sharp Industries regarding the abnormal movement.

The company informed the DSE that it had no undisclosed price-sensitive information that could explain the unusual movement in its share price.

The DSE investigation is expected to examine the trading pattern of the company's shares and determine whether there was any market manipulation, unusual or coordinated trading, misuse of inside information or violation of securities laws and regulations.

The sharp fall has now erased a significant portion of the gains recorded during the stock's rapid rally. The share price is currently more than 55% below its 12 August peak.

The unusual price movement has come at a time when the textile spinning company is facing significant operational challenges, particularly shortages of electricity.

Power shortages have reduced the company's production by around 40%, according to company information. Sharp Industries has production capacity of around 70 tonnes of yarn per day, but its current output has fallen to about 42 tonnes.

The company operates around 1,20,000 spindles. The production disruption has also put pressure on its financial performance.

During the first nine months of fiscal year 2025-26, the company reported revenue of around Tk257 crore but incurred a net loss of Tk65 crore. Its loss per share stood at Tk2.16, while net asset value per share was Tk7.92 as of March 2026.

In the January-March quarter, the company generated around Tk56 crore in revenue and incurred a loss of approximately Tk21 crore. Its accumulated losses stood at around Tk78 crore at the end of March.

Despite the financial pressure, the company sees several factors that could support its business recovery.

According to the company, it has confirmed orders for six months, while yarn prices have increased. Higher export incentives and reduced pressure from India's anti-dumping measures are also expected to support the business.

The company expects that an improvement in electricity supply would allow it to increase production, utilise more of its existing capacity and fulfil its confirmed orders. It also sees an opportunity to secure additional orders as production disruptions at competing factories constrain market supply.

World ​food prices rose in August to their highest since late 2022, as adverse weather and ‌war disruption in the Black Sea heightened concern over supply of staples, the United Nations’ Food and Agriculture Organization said on Friday.

Extreme heat and drought in Europe, the threat of a severe El Nino weather pattern and trade upheaval caused by the Ukraine ​and Iran wars have unsettled agricultural markets, pushing grain prices to three-year highs and sugar to a one-year ​peak.

The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 133.3 points in August, up from July’s revised reading of 130.8.

That was the highest ​score since November 2022, though nearly 17 percent below a record peak from March 2022, after Russia’s full-scale invasion of ​Ukraine.

“August’s increase in global food prices is a warning that the risk premium is returning to food markets: climate shocks, geopolitical tensions and disrupted trade logistics are converging to tighten supply expectations,” FAO Chief Economist Maximo Torero said in a statement.

The FAO’s ​price benchmarks for cereals, vegetable oils, sugar, meat and dairy all rose in August.

The extreme weather in Europe ​affected prospects for the maize (corn) and sugar beet harvests as well as livestock output, while the anticipated El Nino phenomenon ‌fuelled concerns for palm oil and sugar output in Asia, it said.

Escalating attacks in the Black Sea have curtailed grain shipments from Russia and Ukraine in their 4-1/2-year-old war, while the US-Iran conflict was straining flows of fertiliser for crops.

Among food categories, FAO’s cereals price index rose 2.2 percent month-on-month to its highest since May 2024, and the vegetable oil index edged up ​0.6 percent to its highest since June 2022.

The agency’s sugar benchmark jumped 11.9 percent to its highest since June 2025, with lower production in Brazil’s crucial center-south region adding to weather concerns in Europe and Asia.

In a separate report, the agency cut its 2026 global cereal production forecast by 3.4 million metric tons from a previous estimate in July to 2.980 billion tons, now 2.0 percent below 2025 in the largest annual decline since 2018.

Projected output would still be the second-largest on record, however.

Forecast world cereal stocks at the close of 2026/2027 were revised down 1.1 percent to 947.2 million tons, now only marginally above the previous season.

A reduced estimate of coarse grain stocks outweighed an upward revision for wheat that reflected an anticipated build-up in Russian and Ukrainian stocks due to shipping disruption, the FAO said.

Thailand said Friday it would introduce clearer rules on AI data centres to regulate the fast-growing sector, and urged almost 50 sites currently under construction to hold the projects until then.

As demand for artificial intelligence heats up, tech giants are racing to invest billions of dollars in Southeast Asia, attracted by a growing plugged-in user base.

But the rapid expansion has outpaced regulation and concerns are growing across the world about the centres' impact on the environment, including their use of electricity and water, and local communities.

"Thailand is attracting interest from both local and foreign investors... We need to ensure alignment with laws, standards and the national interest," said Prime Minister Anutin Charnvirakul.

Regulations would be revised to make them "airtight" and prioritise public safety, he said at the first meeting of a new government committee on data centres.

Around 35 data centres are currently operating in Thailand, according to Danucha Pichayanan, secretary-general of the government's National Economic and Social Development Council.

Another 49 are under construction, 11 projects have been approved and 117 more are under review, he said.

"We don't have the power to suspend the construction of the 49 data centres" until the new rules are drawn up, Danucha told AFP.

"They are only asked for cooperation, if they would like to halt their construction pending the clearer regulations, which are expected next month."

New data centres -- warehouse-like facilities that store online files and power AI tools from chatbots to image generators -- are springing up worldwide, and the sector is growing particularly fast in Asia.

Microsoft announced in March it would invest more than $1 billion in cloud and AI data centre infrastructure and operations in Thailand over the next two years.

The news followed Google's launch in January of a new "cloud region" in Bangkok, with data centres that would contribute more than $40 billion to Thailand over five years.

But there are concerns in Thailand that the lack of rules up to now has allowed centres to pop up without proper consideration or regulation.

On Thursday, the energy ministry raised concerns over a Bangkok data centre it said was stockpiling 200,000 litres of diesel in underground tanks without permission.

Bangkok Governor Chadchart Sittipunt said the capital had received six applications for standalone data centres, three of which have been operating since 2022, with the other three paused pending review.

The country's prolonged gas crisis has pushed the ceramics industry to the brink, forcing some factories to shut production lines while others operate at less than half their capacity.

Industry leaders said more than 30 ceramics, tiles and sanitaryware factories in major industrial belts including Gazipur, Narayanganj, Savar, Dhamrai, Narsingdi, Mymensingh, and Habiganj are facing severe gas shortages.

They said ceramics factories require around 15 pounds per square inch (PSI), but pressure has frequently dropped to 3-4 PSI and, at times, fallen to zero for most of the past month, forcing many factories to operate at only 34-40% capacity.

Overall production in the ceramics sector has fallen to around 35%. The crisis is also driving up production costs, reducing exports, disrupting domestic supplies and prompting foreign buyers to cancel or cut orders.

"If the situation doesn't improve quickly, factories will fall into a severe financial crisis. Imports may also rise as domestic production declines," said Irfan Uddin, secretary of the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA).

Gas accounts for around 12% of ceramic production costs, according to the BCMEA. Kilns require uninterrupted gas supply for about 24 hours as sudden pressure drops can damage or destroy products inside them.

Once a kiln is shut down, it takes another 48-72 hours to restart after gas pressure returns to normal, making intermittent supply particularly damaging for manufacturers.

The disruption is therefore making it increasingly difficult for factories to maintain production, fulfil export orders and ensure regular supplies to the domestic market.

Artisan Ceramics, which exports tableware to Europe and other international markets, has seen its production fall by around 35% because of the gas crisis.

The company's Gazipur factory has a daily production capacity of seven tonnes. It has taken a Palli Bidyut electricity connection as an alternative source of energy to keep production running, but frequent load-shedding is creating additional problems.

"The gas and electricity crisis has increased our production costs by 35-40%," said Mamunur Rashid, chief executive officer of Artisan Ceramics.

"Production has been disrupted due to the gas and electricity crisis, causing exports to fall by around 35-40%. We have also had to reduce the orders we accept. Buyers are becoming frustrated. We are worried whether they will give us orders next year," he said.

Factories shut, workers sent on leave

Great Wall Ceramic Industries' tile factory in Sreepur, Gazipur, has been shut for a week, cutting production by around 40,000 square metres a day. Most workers are sent on leave.

Its sanitaryware factory in Habiganj normally produces about 100,000 toilets, basins and other sanitary products a month. However, its production has fallen by around 35%.

An official of Great Wall said the company normally keeps a tile stock equivalent to one to one-and-a-half months' sales.

"Production has been disrupted for almost a month due to the gas crisis. As a result, we cannot meet market demand, and sales have already declined. If the situation does not improve within the next one or two weeks, sales could come to a complete halt," he said.

Leading ceramics manufacturer RAK Ceramics was forced to shut all four production units for eight consecutive days due to the gas crisis. One unit resumed operations last Friday, leaving the company running at roughly 25% of capacity.

RAK Ceramics Chief Executive Officer Mohammad Khorshed Alam said the company had yet to calculate the losses caused by the shutdown.

The disruption has also hit Mir Ceramics in Sreepur, Gazipur. Three of its four production units have remained shut for 17 days, cutting daily tile output from a capacity of around 300,000 square feet to just 50,000 square feet. Most of the factory's 800 workers are on leave. An official of Mir Ceramics said gas pressure was sufficient to operate only one unit.

Meghna Group of Industries' ceramics factory in Ashariarchar, Sonargaon, Narayanganj, is also struggling with inadequate gas supply.

AKM Ziaul Islam, chief operating officer of Meghna Ceramics Industries, said the factory has a daily tile production capacity of 51,000 square metres, but gas shortages have disrupted output and prevented the company from meeting market demand.

Domestic market at risk

According to BCMEA data, Bangladesh has 76 ceramic factories producing tableware, tiles, sanitaryware and ceramic bricks, including 31 tile factories.

The domestic tile market was worth Tk5,854 crore in FY25, with local companies holding an 82% share. The overall ceramics market stood at Tk8,250 crore in 2024-25 fiscal year.

The sector has attracted around Tk20,000 crore in investment and employs five lakh people. Ceramic factories are located in Gazipur, Mymensingh, Narayanganj, Habiganj and Bhola.

Industry insiders said almost all factories in the affected areas are facing gas shortages, except seven to eight in Bhola and Habiganj with comparatively better supplies.

The affected industrial clusters include Savar and Dhamrai in Dhaka; Rupganj and Meghnaghat in Narayanganj; Kashimpur, Bhabanipur, Bhawal Mirzapur, Sreepur and Mawna in Gazipur; Panchdona in Narsingdi; Bhaluka and Trishal in Mymensingh; and Madhabpur and Bahubal in Habiganj.

Industry executives said most affected factories are operating at only 20-30% capacity.

BCMEA President Moinul Islam said factories outside Bhola and Habiganj were unable to operate at full capacity because of gas shortages.

He said Bangladesh Chamber of Industries (BCI) representatives recently met Industry and Commerce Minister Khandaker Abdul Muktadir to discuss the gas crisis.

"For an industry that has invested around Tk20,000 crore and employs nearly half a million people, manufacturers now fear that a prolonged gas crisis could turn a temporary production disruption into a deeper industrial and employment crisis," he added.

Bangladesh retained the second position in garment exports to the US in the January-July period as China’s apparel shipments to the American market recorded their steepest decline.

Bangladesh first overtook China in January-February as the Trump administration imposed higher tariffs on Chinese garment imports.
It retained the position in January-July despite a 6.50 percent year-on-year decline in garment exports to the US to $4.66 billion, mainly due to weaker demand for locally made apparel, according to data from the Office of Textiles and Apparel (OTEXA), the US provider of global apparel import data.In July alone, Bangladesh’s garment exports to the US fell 10.73 percent.

Overall, US apparel imports declined 8.65 percent year-on-year to $41.83 billion in January-July.

China’s apparel shipments to the US fell 34.21 percent to $4.55 billion, while India’s declined 25.77 percent to $2.45 billion and Pakistan’s 5.60 percent to $1.26 billion.

Vietnam’s shipments fell 1.03 percent to $9.36 billion, while Indonesia and Cambodia posted growth of 2.76 percent and 10.48 percent to $2.74 billion and $2.62 billion, respectively.

Vietnam remained the largest apparel exporter to the US, followed by Bangladesh and China.

Bangladesh is in a relatively better position than some other apparel-exporting countries in terms of tariffs, which is helping boost shipments to the US market, said Shovon Islam, managing director of Sparrow Group.

“Although exports are in a good position, prices declined in January-July as local exporters had to bear part of the reciprocal tariff,” he said.

If the energy crisis is resolved, Bangladesh could perform even better in the US market, Shovon added.

“China is losing market share, and Bangladesh may be able to perform better in the future. In fact, Vietnam is taking more of China’s market in the US, while Bangladesh is taking a smaller share,” said Anwar Ul Alam Chowdhury Parvez, chairman and managing director of Evince Group, which ships a significant portion of its garments to the US.

However, Bangladesh’s ability to retain the position could be challenged by the ongoing energy crisis, he said.

“We are concerned whether Bangladesh can retain this position in the US market as the energy crisis persists in industrial units. Buyers are also well aware of the energy situation,” Anwar said. If the country can ensure adequate energy supplies, Bangladesh may sustain the positive trend, he added.

Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said Bangladesh could benefit further as China loses market share in the US, but sustaining growth will require lower production costs and reliable gas and power supplies.

Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the outlook for garment exports to the US was positive as work orders were rebounding following the finalisation of effective tariff rates for individual countries by the US government.

However, the industry’s focus should not be on export volume alone, but also on how much value local manufacturers retain, he said.

“Obtaining letters of credit from international buyers should not be the main target, as many exporters cannot make even a minimum profit because of high import costs for raw materials such as fabrics and chemicals,” Mahmud said.

Many exporters are also shipping goods below production cost in the hope of making profits later, he said. The BGMEA wants the industry to achieve a retention value of $20 billion if Bangladesh exports $50 billion worth of garments a year, Mahmud added.

The US is Bangladesh’s single largest garment export destination.
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In February, Bangladesh and the US signed the Agreement on Reciprocal Trade (ART), which includes a textile clause. Under the clause, garments made in Bangladesh using US-sourced cotton and man-made fibres could qualify for duty-free access to the US market.

The provision could further strengthen Bangladesh’s competitiveness in the US market if implemented properly.

Bangladesh received US$6.046 billion in workers' remittances during July 1 to September 2 of the current fiscal year (FY2026-27), registering an 18.6 per cent year-on-year growth compared to US$5.098 billion during the corresponding period of FY2025-26.

According to Bangladesh Bank data, the country received US$220 million in remittances during September 1-2, 2026, against US$198 million received during the same period last year, showing an 11.4 per cent year-on-year growth.

On September 2 alone, expatriate Bangladeshis sent home US$108 million through formal banking channels.

The sustained growth in remittance inflows is expected to help strengthen the country's foreign exchange reserves and support external-sector stability.

Bangladesh's push to mechanise agriculture is facing a financing bottleneck as importers of farm machinery struggle with the high dollar rate and increased upfront margins on letters of credit (LCs).

With more funds tied up in LCs, traders with limited capital say they can no longer import the volumes they need.

Bangladesh Bank data shows LC settlements for capital machinery falling from $3.48 billion in FY23 to $1.81 billion in FY26.

The impact of tighter financing is evident in the experience of Mohammad Zahir, owner of Zahir Enterprise, a mid-sized machinery trading firm.

Speaking to The Business Standard, Zahir said importers previously did not have to deposit the full value of goods against an LC, allowing them to import larger volumes with limited working capital.

"Earlier, if we imported goods worth Tk2 crore, we could do it by depositing just 30% or 40%. But now that facility is not available. Our margin requirement has gone up; in many cases we have to deposit the full amount," he said.

Zahir said the higher margins leave more working capital tied up, forcing businesses to scale down imports.

Md Nurul Islam, president of the Bangladesh Agricultural Machinery Merchants Association, said financing pressure has intensified with the appreciation of the dollar.

"On one hand, the dollar rate is high. On the other, new policies on LC margin requirements mean we are not getting adequate bank support, so we're having to import using our own funds," he said.

"I am not getting bank support, so I have to self-finance. Meanwhile, I have to sell my goods on credit," Nurul Islam said.

He said importers often manage several shipments simultaneously, making it difficult to maintain sufficient working capital when funds are tied up across consignments.

"Managing all this has become difficult. We are now having to cut back on our import volumes," he said.

However, Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan said a 100% margin requirement for capital machinery imports does not apply universally. Margin requirements are generally set on a bank and client-specific basis, he said.

LC settlements down 41.95%

Bangladesh Bank data shows LC settlements for capital machinery imports stood at $3.48 billion in FY23, before falling to $2.66 billion in FY24 and $2.02 billion in FY25, a 41.95% decline over two years.

Settlements in FY26 stood at $1.81 billion, down nearly 48% from FY23.

Arif Hossain Khan said import volumes fluctuate with changes in tariffs and demand, making ups and downs in LC openings and settlements natural.

Import crunch may delay modernisation

Expanding machinery use in farming for land preparation, sowing, harvesting and threshing is a key part of agricultural modernisation and can reduce reliance on manual labour.

Agricultural economist Dr Jahangir Alam Khan said if agri-machinery imports decline because of the high dollar rate and LC-related complications, supply-side problems could follow.

"The decline in import volumes because of the high dollar rate and LC complications will, in effect, delay agricultural development through supply shortages," he said.

He said financing for machinery imports needed for agricultural modernisation should be made easier.

"Alongside providing subsidies to farmers, the government needs to focus on ensuring importers can bring in necessary machinery without difficulty," he said.

Long-term focus on local production

Nurul Islam stressed the need to reduce reliance on imported machinery by boosting domestic production.

He said there is scope to manufacture agri-machinery and parts, including power tillers, diesel engines, tractors and equipment used for sowing and harvesting.

However, higher production costs mean local products need policy support to remain competitive.

"If we stop the flow of imports for the goods we can manufacture here, domestic production will grow, and the country's money will remain within the country," he said.

He called for long-term planning and policy coordination to boost domestic agri-machinery manufacturing.

If financing pressure persists, the expansion of machinery supply could slow, affecting the broader push to mechanise agriculture.

Stakeholders say banking and financing facilities for machinery imports need to be eased, while domestic manufacturing capacity should be strengthened over the longer term to reduce import dependence.

Nearly half of the industrial plots planned for the Jashore Export Processing Zone (EPZ) have already been prepared for allocation to investors, as the development of the new industrial hub in the country’s southwestern region is progressing rapidly.

Of the 415 industrial plots planned under the project, 200 have already been made ready for allocation to investors, said Abu Syeed Md Anwar Parvez, executive director (public relations) of Bangladesh Export Processing Zones Authority (BEPZA).

“Jashore EPZ is not merely an initiative to establish an industrial zone; rather, it is opening a new window of opportunity to transform the overall economic scenario of the southwestern region of the country,” he told BSS.

He said the construction of the EPZ is progressing rapidly under BEPZA’s supervision while infrastructure development and the plot allocation process are being carried out simultaneously to enable investors to establish factories and start commercial operations at the earliest possible time.

“Several local and foreign investors have already visited the Jashore EPZ,” he said, adding that BEPZA is taking steps so that investors can move ahead with factory construction and other preparatory activities without waiting for the completion of all infrastructure works.

According to BEPZA, the Jashore EPZ is being established on 510 acres of land at Prembagh Union under Abhaynagar upazila of Jashore district with the objective of attracting investment, increasing export earnings and creating large-scale employment in the southwestern region.

The project was approved by the Executive Committee of the National Economic Council (ECNEC) on November 9, 2023, at a cost of Tk 1,678.29 crore.

The land was handed over to BEPZA by the Jashore district administration on March 23, 2024.

The project aims to attract around $2 billion in investment and generate annual exports worth $2.4 billion when fully operational.

It is expected to create direct employment for 1.5 lakh people and indirect employment for another three lakh Bangladeshis.

Anwar Parvez said the simultaneous progress of plot allocation and infrastructure development would allow investors to complete factory construction and other preparations while the EPZ’s internal facilities are being developed.

“By the time investors complete their preparations for setting up factories, the necessary infrastructure of the EPZ will also be completed,” he said.

According to the project update, around 70 percent of land development work has been completed while construction of RCC canals is about 95 percent complete. Roads, drains, culverts, boundary walls and footpaths are under construction.

Construction is also underway on an office building, four six-storey factory buildings, three 10-storey residential buildings, two six-storey dormitories and two six-storey Ansar and security barracks.

The tender process for establishing a gas network by Sundarban Gas Company Limited is underway.

An initiative has also been taken to construct a 33/11 kV GIS substation under the financing and management of Bangladesh Rural Electrification Board, while the 11 kV electrical line and substation have already been commissioned.

Tenders have been invited for solar street lights and a water distribution network. Designs and estimates for the Central Effluent Treatment Plant (CETP), Sewerage Treatment Plant (STP) network and internet network are also being prepared. Two deep tube wells have already been installed.

“We hope that once Jashore EPZ becomes fully operational, it will inject new life into the local economy, create huge employment opportunities and play an important role in transforming the overall economic landscape of the southwestern region,” Anwar Parvez said.

The Jashore EPZ project is scheduled to be completed by December 31, 2026, while a proposal to extend the project tenure by one year to December 31, 2027 is under consideration.

Factories producing garments, food, ceramics and pharmaceuticals are cutting production, changing work schedules and turning to alternative energy sources as the ongoing gas and power shortages make it harder and more expensive to keep plants running.

Manufacturers say switching to alternatives raises production costs, hurts margins and puts export deadlines at risk. In most cases, they also cannot pass the extra costs on to foreign buyers or local customers.Asif Ibrahim, vice chairman of Newage Group, which makes knitwear and woven garments for international brands, said the company has been changing its production schedule according to electricity availability.

“We adjust our production schedule according to the power situation. We also try to cut unnecessary use of electricity and get more out of the machines when they are running,” he said.

The crisis has been dragging on for around one and a half months since a floating LNG terminal went offline on July 21, leaving industrial areas with lower gas pressure. Reduced gas supplies to gas-fired power plants have also triggered widespread power outages.To offset the fallout, Newage says it has expanded its rooftop solar capacity, which now supplies about 25 percent of its electricity needs.

The company is also investing in energy-efficient machinery and power-management systems to reduce its dependence on the grid.But these measures cannot fully absorb the cost of an unreliable energy supply.

“When there is no grid power or gas, we have to run diesel generators. That adds a lot to our cost,” said Asif.

For exporters, recovering those extra costs from buyers is difficult because they generally do not agree to higher prices when production costs rise in sourcing destinations.

“So, we have to bear a large part of the extra cost ourselves,” said the Newage Group vice chairman.

Like the garment manufacturer, PRAN-RFL Group, which makes food, beverages, plastics, household goods, furniture, and electrical and electronic products for local and foreign buyers, is also adjusting its operations.

The food maker says some of its production lines are now running below capacity.

Kamruzzaman Kamal, director of marketing at PRAN-RFL Group, said its gas-dependent factories in Narsingdi, Habiganj, Gazipur and parts of Narayanganj have been hit particularly hard.

“We are using LPG where we can. And when the gas pressure is low, we cannot run all the lines at the same time. So, we run some and keep others closed,” said Kamruzzaman.

The group currently generates around 35-38 megawatts of renewable energy for its own use, against total electricity demand of more than 200MW.

“We are working to increase our renewable power capacity to around 100MW within this fiscal year,” said Kamruzzaman. He said PRAN-RFL plans to eventually meet all of its electricity needs from solar power.

The energy crunch is also hitting the cement market, where manufacturers are paying more for electricity and other inputs but have little room to raise prices.

Mohammad Iqbal Chowdhury, CEO of LafargeHolcim Bangladesh, said the 18 percent increase in electricity prices in June, along with higher raw material and freight costs, has pushed up their production costs.

“Costs have gone up, but we cannot pass all of it on to customers,” he said.
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Local cement markets already have far more production capacity than demand. The industry has an annual capacity of about 90 lakh tonnes against demand of around 35 lakh tonnes. Demand fell by 2-5 percent up to August, making it even harder for manufacturers to raise prices without losing sales.

Iqbal said several smaller producers have already shut down, while larger companies were relying on their stronger financial position to weather the downturn.

Meanwhile, ceramic manufacturers say they are struggling to keep their kilns running amid the gas crisis.

Moynul Islam, president of the Bangladesh Ceramic Manufacturers and Exporters Association, said manufacturers had initially passed some of the higher energy costs on to customers. But that was no longer possible.

“The problem is no longer just the higher cost. In some cases, we cannot produce at all,” he said.

Gas pressure in some industrial areas has fallen from around 15 PSI to simply 5 PSI, forcing some factories to shut down or sharply cut production. Manufacturers have tried adjusting machinery to operate at lower pressure, but there is a limit to how far they can go.

Ceramic kilns must maintain a specific temperature to produce goods of the required quality. When gas pressure falls too low, manufacturers often choose not to fire the kilns rather than risk damaging an entire batch.

Similar to PRAN, other food manufacturers and exporters are also taking a hit.

Khurshid Ahmad Farhad, general manager (export) of Bombay Sweets & Company Ltd, said the company could not execute 45.47 percent of its export orders in August because of the gas shortage. Around $113,000 worth of orders remained undelivered despite advance payments from importers.

Khurshid said freight costs for shipments to the Middle East have also risen to $8,500-$12,000 per container. “If a container of chips is worth around $6,000 but the freight is $12,000, how can we continue?” he said.

The company has used diesel to keep production going, but the additional fuel cost is causing losses. Raising prices is also difficult when demand is weak.

“If this continues much longer, we cannot continue like this,” said Khurshid.

Steel mills are meanwhile adjusting their production processes to use less gas.

Sumon Chowdhury, secretary general of the Bangladesh Steel Mill Association, said mills with facilities that can turn molten steel directly into billets and then hot-roll them can maintain around 50-60 percent of normal output during the crisis.

“If a factory can produce billets directly from molten steel and then hot-roll them, it can keep producing to some extent without running a reheating furnace,” he said.

Some mills are also changing when they run equipment, depending on gas and electricity availability.

Md Quamrul Hassan, executive director and COO of ACI Consumer Brands, which supplies a wide range of household, personal care, hygiene, and food products, said factories that need to operate round the clock face a bigger problem, as running on diesel generators raises production costs by at least 10 to 15 percent.

Overall production has risen, but higher energy costs have reduced profit margins, he said.

Abdul Muktadir, chairman and managing director of Incepta Pharmaceuticals, which produces life-saving medicines, said the company is accelerating its move towards renewable energy, particularly solar power, as gas and electricity shortages push up costs.

“We have to move to renewable energy, solar panels, and we have to move very quickly,” Muktadir said. “These are our only options.”

Muktadir said Incepta currently uses four energy sources to keep its factories running -- natural gas, LPG, diesel and grid electricity.

The company initially used gas-fired generators as a backup to grid power, but later installed dual-fuel generators that can switch to diesel when gas is unavailable. It also uses LPG to run its boilers.

“We cannot simply stop. There is no opportunity to stop,” Muktadir added.

The large-scale manufacturing rebounded sharply with a 14.5-percent expansion in June, the final month of the fiscal year 2026, according to official statistics.
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It provides a stronger-than-expected end to a volatile 2025-26 fiscal year marked by repeated contractions amid economic uncertainty.

The June spike in the Index of Industrial Production (IIP) of large-scale manufacturing suggests that the country's industrial sector may be regaining momentum after a prolonged period of weakness.

Large-scale manufacturing accounts for more than 11 per cent of gross domestic product or GDP of the country, making its performance an important indicator of broader economic activity.

The rebound, however, was not broad-based.

Much of the June growth came from the clothing industry, which carries a dominant 61-percent weight in the manufacturing index.

The textile sector, the second-largest component with an 11 -percent weight, remained almost stagnant during the month.

The concentration of growth in garments raises questions about the strength of the wider industrial recovery.

While the performance of the clothing industry provided a substantial liftoff to the overall index, several other manufacturing segments continued to struggle, suggesting that the recovery remains uneven.

"The manufacturing sector had a difficult fiscal year," says Dr. Zahid Hussain, an independent economist.

He goes on to say that industrial activity contracted in several months amid political uncertainty, the national elections and the fallout from geopolitical tensions, including the crisis in the Middle East centred on Iran.

Some industries are benefiting from stronger demand and export opportunities, while others continue to face subdued consumption, high production costs, financing constraints or weak investment.

The sharp rise in June, therefore, needs to be viewed in the context of the sector's performance over the entire fiscal year rather than as evidence of a fully established recovery.

The sector recorded negative growth in October, November, December, February, March and May. January and another month recorded virtually flat performance.

As a result, the strong June expansion came after months in which manufacturers faced weak demand, uncertainty over investment and disruptions to business activity.

Against this backdrop, the June increase of 14.5 per cent is significant.

It marks a sharp turnaround from the contractionary trend seen during much of the fiscal year and could indicate that manufacturers are responding to improving business conditions and stronger external demand, particularly for export-oriented products.

Among the 23 major manufacturing groups, a number of industries recorded noteworthy performances during June. The goodies include food products, leather, chemicals, pharmaceuticals, rubber and plastics, basic metals, electrical equipment, machinery, motor vehicles, other transport equipment, furniture and other manufacturing.

The performance of these industries points to some degree of breadth in the June recovery, although the dominant contribution from garments means the overall picture remains heavily influenced by one sector.

Several industries, meanwhile, continued to perform poorly. Among the baddies named are beverages, tobacco, wood products, paper and paper products, fabricated metal products, computers and electronics, and printing.