Prime Minister Tarique Rahman is set to meet officials of the National Board of Revenue tomorrow, for the first time during his tenure, in a bid to learn about the revenue authority's field-level operations and processes, according to officials.

NBR sources also said the prime minister is likely to ask about the NBR's strategy for achieving the Tk6.04 lakh crore revenue collection target for the fiscal 2026-27, which is more than 45% higher than that of the previous fiscal year.

Experts said the prime minister's meeting, named "Revenue Conference", would help reduce the dissatisfaction and lack of trust among officials created by their movement over the NBR bifurcation issue and the subsequent punishment, forced retirement and transfers of a large number of officials.

Officials said such a meeting between the prime minister and NBR officials is rare. Earlier in 2023, the then prime minister had attended a similar revenue conference while inaugurating the current NBR building in Agargaon, Dhaka.

NBR Member Syed Mushfequr Rahman told The Business Standard that they are preparing a presentation on strategies for achieving the revenue collection target for the new fiscal year, which will be presented to the prime minister.

He said, "The prime minister wants to know how our various activities are carried out. These include the customs clearance process, how VAT registration and payment are made, the process of obtaining an online TIN and filing returns, and how payments are made, among others."

Another official said, "We have also learned that he will ask the NBR about the progress of its automation and ways to eliminate existing irregularities and inefficiencies."

"We are preparing the presentations," he added.

Dr Syed Md Aminul Karim, a former NBR member of Income Tax Wing, who worked at the revenue authority for nearly 30 years, told TBS, "If the prime minister meets the officials and listens to them, it will create hope among them and provide an opportunity to overcome the division, fear and mistrust that had developed among them," he said.

He said, "Ultimately, this will also be positive for revenue collection," adding, "In the past, revenue collection grew by an average of 12% to 13% annually. But this year, the target is to increase revenue collection by more than 45%. The prime minister is meeting NBR officials as part of an out-of-the-box approach to achieving this target."

Private entity Architecture Research and Development (ARD) has proposed establishing 6,000 micro-economic zones across Bangladesh to boost local production, entrepreneurship and employment while strengthening food security and climate resilience.

The organisation plans to implement the initiative through a public-private partnership (PPP) with government support.

Architect Shamsunnahar Munni outlined the proposal at a press conference at the Sagar-Runi Auditorium of Dhaka Reporters Unity (DRU) on Sunday.

She said the proposed zones would not be merely projects but comprehensive local economic ecosystems designed to meet people's needs through local production as much as possible.

"This will reduce import dependence, strengthen local economies and create employment opportunities," she said.

Ms Munni said growing uncertainties in global supply chains, imports and exports, transportation, energy and international markets had made it increasingly important to strengthen Bangladesh's capacity to produce and consume essential goods locally.

"We will work locally and globally. If local problems can be addressed locally, many of the country's major problems can be solved," she said.

Asked about financing and implementation, she said the organisation wanted to undertake the initiative through a PPP arrangement with the government.

Responding to a question about whether discussions had already been held with any government agency, she said they had learnt at a seminar that Bangladesh Bank has some green funds and suggested that the government could consider financing the initiative from such funds.

Under the proposed model, local people would participate not only as consumers but also as producers. A farmer's products could be used by another entrepreneur, while products made by other entrepreneurs could be consumed by farmers and local residents, creating an interdependent local economic system, she said.

The initiative also seeks to recreate elements of the traditional village-based exchange economy by connecting local producers, artisans, farmers, packaging entrepreneurs and traders. "We do not want to become like any other country. We want to move forward in our own way, based on our own capabilities," Ms Munni said.

According to the organisation, each of the proposed 6,000 zones would include cold storage, airflow storage, agro-processing centres, dryer units and food-processing facilities.

The zones would also have environment-friendly housing, workspaces for entrepreneurs, production facilities, training and incubation centres, storage, packaging, branding and marketing facilities.

Small-scale renewable energy systems, including windmills and mini-hydropower facilities, would also be developed in the zones to support low-carbon and climate-resilient infrastructure, she said.

Ms Munni said if 100 entrepreneurs joined each zone, around 600,000 entrepreneurs could become directly involved across the 6,000 zones. They would purchase ownership shares in the zones, while the number of entrepreneurs could be increased further.

A preliminary survey found the potential for an average of around 270 entrepreneurs in different areas, she said.

She added that field surveys had already been conducted in different unions and localities, and information had been collected on the livelihoods and living conditions of marginalised people. The concept of the master plan was developed based on those field-level observations, she said.

Calling herself an "architect of the poor", Ms Munni said ARD had so far worked on building homes for more than 5,000 poor families.

"Drawing on this experience, we have thought of bringing the housing, employment and livelihood needs of marginalised people under a single framework," she said.

Once home to one of the world's largest jute mills, the industrial land of Adamjee in Narayanganj has been transformed into a major export and employment hub, with Adamjee Export Processing Zone (EPZ) now generating more than $1 billion in annual exports and employing over 76,000 people.

Built on the abandoned land of Adamjee Jute Mills, the EPZ has completed two decades of operation and currently hosts 47 production units that make garments, bridal wear, safety footwear, automotive components, and other specialised products for global markets.

According to the Bangladesh Export Processing Zones Authority (Bepza), total investment in Adamjee EPZ has reached about $847 million, while cumulative exports stand at $11.112 billion. Annual exports crossed $1 billion in FY25 and reached $1.179 billion in FY26, exceeding the $750 million target set in the original project proposal.

Md Abdur Rahman Bhuiyan, executive director of Adamjee EPZ, told The Business Standard that exports had crossed $1 billion for the second consecutive fiscal year.

"The project proposal had estimated annual exports of around $750 million once the EPZ became fully operational. But exports exceeded $1 billion in FY25. With the 10 factories currently under construction coming into production, annual exports can potentially reach $1.5 billion," he said.

He said investor interest remained strong, but all plots had already been allocated. "We are trying to expand it further," he said.

Over 76,000 jobs

The 292-acre EPZ currently employs 76,027 people, according to Bepza. With 10 factories under construction, direct employment could exceed 100,000 once they begin production.

Factories produce garments for global brands including Tommy Hilfiger, Ralph Lauren, Michael Kors and Van Heusen. The zone also makes safety equipment, footwear and automotive products, expanding beyond traditional apparel into specialised, higher-value exports.

Universal Menswear Ltd, a Romania-Bangladesh joint venture, has invested $45.91 million and employs 8,194 people, including 8,160 Bangladeshis and 34 foreign workers. It produces tailored men's suits, blazers and formal trousers and exported $97.88 million in FY26.

Super Protective Shoes (Pvt) Ltd, a Ukrainian-invested manufacturer, has invested $13.06 million and employs nearly a thousand people. It exported $12.77 million worth of safety shoes, industrial footwear, military boots and specialised footwear in FY26.

Lavryk Andrity, chairman and managing director of the company, said it was introducing specialised machinery to produce technically advanced footwear. Some machines are sourced from Europe and others from Taiwan and China.

Japanese company TS Tech Bangladesh Ltd has invested $4.67 million and employs 512 people, including 508 Bangladeshis and four Japanese workers. It exported $14.75 million last fiscal year, mainly producing automotive seat-trim covers for Japanese vehicle manufacturers.

The company sources most materials from Japan and China, processes the covers in Bangladesh and sends them to production facilities in Japan. Managing Director Satoru Onishi said the company was increasingly focusing on productivity and automation, including 3D printing for internal production work. It has gradually expanded capacity since starting operations in January 2017.

High-value bridal wear

The EPZ's diversification is also evident in specialised, high-value products. UBF Bridal Ltd, a German-invested company, produces premium wedding and evening wear, including dresses, suits, jackets, boleros, veils, petticoats and jewellery.

The company began operations in April 2022 with a $3.66 million investment and now employs 357 local workers. It exported $5.27 million in FY26.

Khadeja Akter and Rani Akter are among its sewing workers. Rani, who has been working there for nearly five years, said the favourable working environment and higher wages than factories outside the EPZ were key reasons for staying.

Md Robiul Hoque Siddiki, chief operating officer of UBF Bridal, said Bangladesh initially lacked workers experienced in producing such specialised garments. "We had to train the workers and managers ourselves," he said.

The company started with around 130 workers, and management says worker efficiency has risen from about 30% to 60% as employees gained experience.

UBF handles design, manufacturing, embellishment and finishing. Its products are exported to Germany and distributed to around 37 countries, including markets in Europe, the United States, Brazil and South Africa, while retaining their "Made in Bangladesh" identity.

The company is also developing local embroidery and lace production and plans to manufacture footwear in Bangladesh.

From jute mill to export hub

Adamjee Jute Mills was established in 1950 in Siddhirganj by the Adamjee family and became one of the world's largest jute mills. Covering nearly 1,000 acres, it grew into a large industrial community with worker settlements, markets and schools.

After independence, the mill was nationalised and placed under Bangladesh Jute Mills Corporation (BJMC). Financial losses, management weaknesses, technological limitations and labour unrest gradually pushed it into crisis.

The mill shut down on 30 June 2002, when around 20,000-25,000 workers were employed there.

The government later decided to repurpose the abandoned industrial land. On 30 December 2004, it decided to transfer the land to Bepza, and Adamjee EPZ was formally inaugurated on 13 March 2006.

In FY2005-06, the EPZ had only $4 million in investment and $0.23 million in exports. Over two decades, modern factories have replaced the jute mill, and the same land now supports more than 76,000 jobs across 47 operating factories.

Scope for further growth

Adamjee EPZ's strategic location between Dhaka and Chattogram, connectivity and modern facilities have helped attract local and foreign investors.

Bepza expects the 10 factories under construction to push annual exports beyond $1.5 billion and employment above 100,000.

The zone's impact also extends to workers' families. At around 5:30pm during a TBS visit, five-year-old Abdullah was leaving with his mother, Shanta. She said she could work while leaving her son at the EPZ's daycare centre, which she found highly helpful.

From a jute mill that once symbolised Bangladesh's industrialisation to a modern export hub producing high-value garments, specialised footwear and automotive components, Adamjee's industrial landscape has undergone a major transformation.

Fruit imports will become easier after Bangladesh Bank withdrew the mandatory 100% cash margin requirement for letters of credit (LCs), a move expected to improve supply and ease prices in the local market.

The central bank issued the directive to all banks today (16 August), allowing importers to negotiate LC margins with their respective banks based on their banking relationship.

The decision was taken as the country's foreign exchange market and transactions have returned to desired levels of stability, according to Bangladesh Bank.

In a circular, the central bank said fruits are an essential part of the daily diet of children, patients, elderly people and pregnant women.

Easing import conditions would help create a more competitive market and make fruits more affordable for consumers, it said.

Bangladesh Bank had imposed a 100% cash margin requirement on fruit imports, along with certain luxury and import-substitute goods, in September 2024 amid global economic uncertainty.

While the requirement has now been withdrawn for fruit imports, the 100% cash margin condition for other luxury goods will remain in place.

The central bank expects the move to help ensure a steady supply of imported fruits and prevent price pressures in the domestic market.

অন্যদিকে বড়পুকুরিয়া খনি থেকে উত্তোলন করা কয়লার পুরোটাই ব্যবহার হয় ওই এলাকায় স্থাপিত তাপবিদ্যুৎ কেন্দ্রে। সরকার জ্বালানি ঘাটতি মেটাতে দিনাজপুরের ফুলবাড়ী খনি থেকে কয়লা উত্তোলনের কথা জানিয়েছে। এ খনি থেকে উত্তোলন শুরু হলে বছরে ১৫ মিলিয়ন বা দেড় কোটি টন কয়লা পাওয়া যাবে বলে বড়পুকুরিয়া কোল মাইনিং কোম্পানি লিমিটেড (বিসিএমসিএল) সূত্রে জানা গেছে। জ্বালানি বিভাগের নীতিনির্ধারকরা জানিয়েছেন, সেক্ষেত্রে দেশে স্থাপিত তাপবিদ্যুৎ কেন্দ্রগুলোর জন্য আমদানি করা কয়লা চাহিদার ৭৫ শতাংশই স্থানীয় উৎস থেকে মেটানো যাবে। তাদের মতে, এতে একদিকে যেমন বিদ্যুৎ উৎপাদনে গ্যাসের চাপ কমবে, তেমনি সাশ্রয় হবে বিপুল পরিমাণ বৈদেশিক মুদ্রা। কমবে আমদানিনির্ভরতার ঝুঁকি।

দেশের জ্বালানি ও বিদ্যুৎ সংকট মোকাবেলায় সরকার ১০ বছর মেয়াদি একটি পরিকল্পনা প্রকাশ করবে। পরিকল্পনাটি এ মাসে জাতীয় সংসদে তুলে ধরা হবে বলে জানা গেছে। এতে স্থানীয় কয়লা উত্তোলন নীতির বিষয়টিও থাকবে বলে নির্ভরযোগ্য সূত্রগুলো জানিয়েছে। পূর্ণাঙ্গ জ্বালানি নীতি আগামী দুই থেকে তিন সপ্তাহের মধ্যে প্রকাশ করা হবে বলে জানিয়েছেন অর্থমন্ত্রী আমির খসরু মাহমুদ চৌধুরী। আমেরিকান চেম্বার অব কমার্স ইন বাংলাদেশ (অ্যামচেম) আয়োজিত গতকাল এক সভায় অর্থমন্ত্রী বলেন, ‘দুর্ভাগ্যজনকভাবে এখন আমরা কয়লার উত্তোলনের দিকে যাচ্ছি। ফুলবাড়ী ও অন্যান্য স্থানে উন্মুক্ত পদ্ধতিতে কয়লা উত্তোলনে এগোতে হচ্ছে। কারণ আমাদের সামনে অন্য কোনো বিকল্প নেই। বিদ্যুৎ ও জ্বালানি মিশ্রণের বিষয়ে আমরা মোটামুটি সিদ্ধান্ত নিয়েছি। আগামী দুই-তিন সপ্তাহের মধ্যে পূর্ণাঙ্গ জ্বালানি নীতি দেয়া হবে।’

দেশে ফুলবাড়ী কয়লা খনিতে ৫৭২ মিলিয়ন টন কয়লার মজুদ রয়েছে। এ খনি থেকে ৪৭২ মিলিয়ন টন কয়লা উত্তোলন করা যাবে। বিসিএমসিএলের কর্মকর্তাদের সঙ্গে কথা বলে জানা গেছে, বছরে ফুলবাড়ী খনি থেকে ১৫ মিলিয়ন টন কয়লা উত্তোলন করা যাবে। দেশে ছয়টি কয়লাভিত্তিক বিদ্যুৎ কেন্দ্রের জন্য বছরে ২০ মিলিয়ন টন কয়লা আমদানি হচ্ছে। ফলে ফুলবাড়ী থেকে বছরে ১৫ মিলিয়ন টন কয়লা পাওয়া গেলে তা দিয়ে দেশের তাপবিদ্যুৎ কেন্দ্রগুলোর জন্য আমদানি করা কয়লার ৭৫ শতাংশ চাহিদা পূরণ করা যাবে। বর্তমানে ফুলবাড়ী খনির ফিজিবিলিটি স্টাডি প্রস্তুত অবস্থায় রয়েছে বলে জানা গেছে।

নাম অপ্রকাশিত রাখার শর্তে বিসিএমসিএলের এক কর্মকর্তা বণিক বার্তাকে বলেন, ‘ফুলবাড়ী কয়লা খনিতে ২৪০ মিটার মাটির নিচেই কয়লা, যা খুব কাছাকাছি। বছরে এ খনি থেকে বছরে ১৫ মিলিয়ন টন কয়লা পাওয়া যাবে, যা দিয়ে কয়লাভিত্তিক বিদ্যুৎ কেন্দ্রের জন্য আমদানি কয়লার ৭৫ শতাংশ জ্বালানি চাহিদা মেটানো যাবে। সরকার কয়লা উত্তোলনে চূড়ান্ত সিদ্ধান্ত নিলে এবং যাবতীয় কাজ শেষ করতে পারলে এ খনি থেকে পূর্ণ সক্ষমতায় কয়লা উত্তোলন করতে পাঁচ বছর সময় লাগবে।’

দেশের পাঁচটি খনির মধ্যে বর্তমানে শুধু বড়পুকুরিয়া খনি থেকে কয়লা উত্তোলন করা হচ্ছে। এ খনি থেকে বছরে সাত লাখ টন কয়লা উত্তোলন করছে চীনা কনসোর্টিয়াম এক্সএমসি-সিএমসি। বিসিএমসিএল সূত্রে জানা গেছে, ফুলবাড়ী কয়লা খনি কারিগরিভাবে প্রস্তুত রয়েছে। এ খনি থেকে কয়লা উত্তোলনে কমপ্রিহেনসিভ ফিজিবিলিটি স্টাডি করা হয়েছে। ৫৭২ মিলিয়ন টন মজুদ থাকা কয়লার মধ্যে ৪৭২ মিলিয়ন টন উত্তোলন করা যাবে।

দেশে স্থাপিত কয়লাভিত্তিক সাতটি বিদ্যুৎ কেন্দ্রের সক্ষমতা ৭ হাজার ৩১২ মেগাওয়াট। বড়পুকুরিয়া তাপবিদ্যুৎ কেন্দ্র বাদে বাকি ছয়টি বিদ্যুৎ কেন্দ্রের জন্য বছরে অন্তত ২০ মিলিয়ন টন কয়লা আমদানি করতে হয় বিপিডিবিকে। এ কয়লার স্থানীয় বাজার মূল্য প্রায় দেড় হাজার কোটি টাকা। বাংলাদেশ ব্যাংকের হিসাব অনুযায়ী, ২০২৪-২৫ অর্থবছরে দেশে কয়লা আমদানির ঋণপত্র (এলসি) নিষ্পত্তি হয় ১১৯ কোটি ১১ লাখ ডলারের। প্রতি ডলার ১২২ টাকা ধরলে বাংলাদেশী মুদ্রায় এ কয়লা আমদানি মূল্য ১৪ হাজার ৫৩১ কোটি টাকা।

দেশে বিদ্যুৎ উৎপাদন সক্ষমতায় কয়লাভিত্তিক কেন্দ্রগুলোর হিস্যা (আমদানিসহ) ২৮ শতাংশ। বর্তমানে বিদ্যুৎ উৎপাদনের চাহিদা প্রায় ১৭ হাজার মেগাওয়াট। জ্বালানি খাতসংশ্লিষ্টরা বলছেন, স্থানীয় কয়লা উত্তোলন করে পূর্ণ সক্ষমতায় এসব বিদ্যুৎ কেন্দ্র চালানো গেলে আমদানি ব্যয় কমানোর পাশাপাশি গ্যাসভিত্তিক বিদ্যুৎ কেন্দ্রের ওপর অতিমাত্রায় নির্ভরতা কমবে।

দেশে গ্যাসভিত্তিক বিদ্যুৎ কেন্দ্রের সক্ষমতা ১২ হাজার ৪৭২ মেগাওয়াট। গ্যাস সংকটের কারণে বিপুল এ সক্ষমতার অর্ধেকও উৎপাদন করতে পারছে না বাংলাদেশ বিদ্যুৎ উন্নয়ন বোর্ড। অন্যদিকে কয়লা আমদানি করে পূর্ণ সক্ষমতা তাপবিদ্যুৎ কেন্দ্র চালানোর অর্থও নেই সংস্থাটির কাছে। ফলে দেশের কয়লা উত্তোলন করে বিদ্যুৎ কেন্দ্র চালানো গেলে তা আর্থিকভাবে যেমন সাশ্রয়ী হবে, তেমনি নিরবচ্ছিন্ন উৎপাদনেরও নিশ্চয়তা দেবে। তবে তার আগে সরকারকে চূড়ান্ত সিদ্ধান্ত নিতে হবে বলে মনে করেন জ্বালানি বিশেষজ্ঞরা। জ্বালানি বিশেষজ্ঞ ও ইনডিপেনডেন্ট ইউনিভার্সিটির অধ্যাপক ম. তামিম বলেন, ‘দেশের কয়লা উত্তোলনে চূড়ান্ত সিদ্ধান্ত নিতে হলে নিরপেক্ষ সমীক্ষা প্রয়োজন। আমি মনে করি আমাদের এ পুরো কয়লা উত্তোলনের ব্যবস্থাপনাটা ভালোভাবে তৃতীয় কোনো পক্ষ, যার কোনো স্বার্থ নেই, এ রকম কাউকে দিয়ে পরীক্ষা-নিরীক্ষা করা দরকার। তারা যদি বলে যে এটার ঝুঁকি সীমিত আকারে এবং সে ঝুঁকি সামলানো সম্ভব হবে, কোনো সমস্যা হবে না, তাহলে আমরা এগিয়ে যেতে পারি। আর যদি বলে ঝুঁকি অনেক বেশি, তাহলে আমরা দেশীয় কয়লা উত্তোলনের চিন্তা সম্পূর্ণ পরিত্যাগ করতে পারি। ইঞ্জিনিয়ারিং চ্যালেঞ্জকে ভয় পেলে চলে না। পৃথিবীর কোনো বড় প্রজেক্ট, মেগা প্রজেক্ট ইঞ্জিনিয়ারিং চ্যালেঞ্জ ছাড়া হয়নি।’

দেশীয় কয়লা উত্তোলনে বিষয়ে পেট্রোবাংলার পরিকল্পনা কী সেই বিষয়ে সংস্থাটির চেয়ারম্যান মো. আব্দুল মান্নানের সঙ্গে যোগাযোগের চেষ্টা করেও তাকে পাওয়া যায়নি।

বিষয়টি নিয়ে জানতে চাইলে পেট্রোবাংলার পরিচালক (পিএসসি ও অপারেশন অ্যান্ড মাইনস) প্রকৌশলী মো. শোয়েব বণিক বার্তাকে বলেন, ‘বড়পুকুরিয়া খনি থেকে কয়লা উত্তোলন কাজ চলমান রয়েছে। ওই এলাকায় বেশকিছু স্টাডি রয়েছে। স্টাডির ওপর ভিত্তি করে কয়লা উত্তোলনের কার্যক্রম গ্রহণের পরিকল্পনা রয়েছে। তবে এ মুহূর্তে বড়পুকুরিয়া কয়লা খনির সেন্ট্রাল পার্টের উত্তর পাশে আরো ৩০০ একর ভূমি অধিগ্রহণ প্রক্রিয়াধীন রয়েছে। কোল মাইনিং ডিজাইনের জন্য শিগগিরই ছয়টি বোর হোল খনন শুরু হবে। ডিজাইন অনুযায়ী পরবর্তী সময়ে কয়লা উত্তোলনের উদ্যোগ গ্রহণ করা হবে।’

দেশে মোট পাঁচটি কয়লা খনি রয়েছে। এর মধ্যে সবচেয়ে বেশি কয়লা মজুদ রয়েছে জয়পুরহাটের জামালগঞ্জে। এ খনিতে কয়লার মজুদ রয়েছে ৫ হাজার ৪৫০ মিলিয়ন টন। রংপুরের খালাশপীরে মজুদ রয়েছে ৬৮৫ মিলিয়ন টন। দিনাজপুরের দিঘিপাড়ায় ৭০৬ মিলিয়ন টন এবং বড়পুকুরিয়ায় ৪১০ মিলিয়ন টন। দেশের বিপুল পরিমাণ এ কয়লা সম্পদ উত্তোলন নিয়ে বিভিন্ন সরকার কোনো সিদ্ধান্ত নিতে পারেনি।

এর আগে ফুলবাড়ী খনিতে কয়লা উত্তোলনের উদ্যোগ নেয়া হলে ২০০৬ সালের আগস্টে সেখানকার স্থানীয়রা আন্দোলন করেন। এ আন্দোলনটি হয় কৃষিজমির ক্ষতি, পরিবেশ বিপর্যয়, বাস্তুচ্যুতির আশঙ্কা, রফতানি ও বিদেশী কোম্পানিকে কাজ দেয়ার বিরুদ্ধে প্রতিবাদ হিসেবে। এক পর্যায়ে এ আন্দোলন তীব্র হলে আইন-শৃঙ্খলা রক্ষাকারী বাহিনীর গুলিতে তিনজন নিহত ও বহু মানুষ আহত হন।

জ্বালানি খাতসংশ্লিষ্টরা বলছেন, স্থানীয় মানুষের চাহিদা, জীবনমান ও ক্ষতিপূরণ নিশ্চিত করা এবং দেশের বৃহৎ স্বার্থের বিষয়টি তাদের সামনে সঠিকভাবে উপস্থাপন করা গেলে এ প্রাকৃতিক সম্পদ ব্যবহার করার সুযোগ রয়েছে।

Bangladesh Bank has approved the opening of Letters of Credit (LCs) for SS Power through Rupali Bank with a 100% cash margin until 31 December 2027.

The central bank published a gazette notification today (16 August) in this regard.

A senior Bangladesh Bank official told The Business Standard that the central bank had sent a proposal to the finance ministry seeking approval to allow the LCs to be opened. Following the ministry's approval, Bangladesh Bank issued the gazette notification.

SS Power can now open LCs to import coal, subject to certain conditions. Bangladesh Bank will not bear any liability arising from the exemption, and the company will not be eligible to seek financial assistance from the central bank.

70% of SS Power One Limited (Banshkhali coal-fired power plant) is owned by Bangladesh's S Alam Group, while the remaining 30% is owned by a Chinese company.

"SS Power itself is not a loan defaulter. However, its owner is now classified as a defaulter, which has resulted in the group being treated as a defaulter as well," the Bangladesh Bank official said.

He said SS Power is a power-generation company, and therefore the finance ministry and Bangladesh Bank have taken the decision with a view to ensuring an uninterrupted power supply.

Commerce Minister Khandakar Abdul Muktadir yesterday urged Lithuanian technology companies to explore investment and business opportunities in Bangladesh’s rapidly expanding ICT, fintech and other technology-driven sectors.

He made the call when Lithuanian non-resident Ambassador to Bangladesh Diana Mickeviciene met him at the Ministry of Commerce at the Secretariat here, said a press release.Commerce Secretary Md Ataur Rahman Khan was present at the meeting.Muktadir said Bangladesh and Lithuania have significant scope to expand bilateral trade and investment although the existing volume of trade between the two countries remains limited.Muktadir said Bangladesh and Lithuania have significant scope to expand bilateral trade and investment although the existing volume of trade between the two countries remains limited.He particularly highlighted Bangladesh’s rapidly growing ICT sector, skilled young workforce and strong pool of freelancers, saying Lithuanian technology companies could utilise these resources to expand their operations in Bangladesh and gain access to the wider South Asian market.

“Bangladesh is now a promising destination for investment,” the minister said, adding that necessary facilities have been ensured for repatriation of investment and profits.

He said Bangladesh is providing a stable and investment-friendly environment for international investors and urged Lithuanian businesses to take advantage of the emerging opportunities.

During the meeting, the two sides discussed ways to strengthen bilateral trade, investment cooperation and partnerships in technology-oriented sectors, including ICT, cybersecurity and fintech.

Ambassador Diana Mickeviciene said Lithuania is a global leader in laser technology, GovTech and fintech services.

She expressed her country’s interest in sharing expertise and technological experience with Bangladesh to support its digital transformation, technological development and cybersecurity capabilities.

The Lithuanian ambassador also emphasised the importance of building effective partnerships between the public and private sectors of the two countries, saying such cooperation could create new opportunities in technology, innovation and investment.

The meeting also stressed the need for prompt measures to expand bilateral trade, increase business-to-business contacts and undertake joint initiatives in technology-driven sectors.

The government has formed a high-level committee to recommend rescheduling existing loans of tea garden owners, extending new credit and establishing a revolving fund for the tea sector at a 6% interest rate.

The committee will also provide recommendations on declaring tea an agricultural product and commercially installing solar panels on unused land in tea gardens.

The Prime Minister's Office announced the formation of the "Monitoring and Advisory Committee for the Development of Bangladesh's Tea Industry" in a gazette notification yesterday.

The committee, chaired by the commerce minister with the commerce ministry secretary as member secretary, includes the principal secretary to the prime minister, Bangladesh Bank governor, secretaries of the land, finance, commerce and agriculture ministries, National Board of Revenue chairman and Bangladesh Tea Board chairman, among others.

According to the notification, the committee will recommend rescheduling tea garden owners' existing cash loans to ease repayment and extend new loans. It will also give its opinion on establishing a revolving fund for the tea sector at 6% interest.

Another key responsibility is to assess whether tea can be declared an agricultural product and submit recommendations on the matter.

The committee will also examine the potential for commercial installation of solar panels on unused land in tea gardens. It has been asked to submit a report with recommendations on these issues within 30 days.

The initiative brings the tea industry's financing constraints, debt burden and alternative use of unused garden land under a single policy framework. If implemented, the proposed loan restructuring and low-interest revolving fund could expand financing opportunities for tea gardens.

Besides senior government officials, the committee includes Bangladesh Tea Association chairman, former lawmaker M Ohidul Haque, chairman of the Tea Traders Association of Bangladesh, chairman of the Tea Planters and Traders Association of Bangladesh, and the president and secretary-general of the Bangladesh Bought Leaf Tea Factory Owners' Association.

The government has formed a 12-member committee to oversee the development of Bangladesh’s tea industry, which is facing financial strain from years of losses, high borrowing costs, falling exports, rising production expenses and low productivity.

The Prime Minister’s Office issued a notification yesterday forming the Monitoring and Advisory Committee, with the commerce minister as its chairman.

The committee’s terms of reference cover three main areas.

As per the notification, first, it will make recommendations on rescheduling classified loans held by tea garden owners and extending fresh loans to ease repayment of their existing debts.

Second, it will provide its opinion on establishing a revolving fund for the tea sector at a 6 percent interest rate.

Third, it will examine the possibility of officially declaring tea an agricultural product and commercially installing solar panels on unused tea garden land, and submit a report with its recommendations within the next 30 days.

The committee’s members include the principal secretary to the prime minister, the governor of Bangladesh Bank, the land secretary, the finance secretary, the agriculture secretary, the chairman of the National Board of Revenue, the chairman of the Bangladesh Tea Board, and the chairman of the Bangladesh Tea Association.

In addition, M Wahidul Haque, former chairman of the Bangladesh Tea Association, and the chairman of the Tea Brokers Association of Bangladesh have also been included as members. The commerce secretary will serve as the member secretary of the committee.

In early June this year, a government taskforce was formed to recommend sweeping reforms in the industry.

It identified problems across eight priority areas, made 59 recommendations and laid out an implementation roadmap covering cheaper credit, tax cuts, debt restructuring, replanting, exports and investment.

The taskforce, headed by Mamun Rashid, chairman of publicly traded National Tea Company Limited, submitted its report to the commerce ministry on July 12.

One key problem identified by the taskforce is the classification of tea estates as an industry rather than agriculture, forcing owners to borrow at more than double the rate available to farmers.

Bangladesh is the world’s eighth-largest tea producer, with 172 estates producing 9.49 crore kg of tea in 2025, according to Bangladesh Tea Association data cited in the report. The sector directly employs 102,000 permanent and 40,000 temporary workers, while around 5 lakh people live within estate boundaries.

Yet tea gardens have been selling tea below production costs every year since 2019, as per the Tea Association data. In 2024, production costs stood at Tk 260 per kg against an average auction price of Tk 208.88, leaving a gap of Tk 51.12 per kg.

Exports have fallen 79 percent since 2002, while production costs have risen 78.31 percent over the past decade, with auction prices failing to keep pace.

The committee comprises representatives from government bodies, regulatory agencies and tea sector stakeholders.

Business leaders have called for a simpler, faster and hassle-free process for issuing and renewing trade licences, saying recent increases in trade licence and signboard fees are placing additional financial pressure on businesses.

They also urged the authorities to regulate different types of vehicles, including battery-run autorickshaws, and enforce traffic laws effectively to ease traffic congestion in the capital.

They made the demands at a view-exchange meeting jointly organised by the Dhaka Chamber of Commerce and Industry (DCCI) and Dhaka South City Corporation (DSCC) in Dhaka yesterday (16 August).

Anger over fee hikes

Speaking at the meeting, former DCCI Vice President Abdus Salam said the initial fee for a trade licence was only Tk50, but the renewal fee has now risen to several thousand taka. Signboard fees have also increased significantly.

He urged the administration to ensure a hassle-free business atmosphere and consider traders' ability to pay when setting trade licenses and other fees.

Traders present at the event said they paid Tk7,800 to renew their trade licence last year, but the fee increased to Tk10,000 this year.. They also said their signboard fee increased from Tk6, 640 to Tk9,000.

The traders said businesses are still struggling to return to normal operations, while higher trade licence and signboard fees are adding to their financial burden.

Long delays in receiving renewed trade licences

Moulvibazar Traders Association President Md Ali Bhuiyan said Dhaka South officials collected outstanding trade licence fees from traders in June, but many have yet to receive their renewed licences nearly three months later.

He said the DSCC administrator was sincere in addressing traders' concerns, but field-level officials were not acting with sufficient urgency.

Trade licence process to be automated, five-year validity planned

Dhaka South Chief Executive Officer Md Khoybor Rahman said there are currently 246,180 trade licences under the corporation's jurisdiction.

Against a revenue collection target of Tk150 crore for FY26, DSCC collected Tk115 crore, he said. The collection target for the current fiscal year has also been set at Tk150 crore.

Khoybor said trade licences are important legal documents for businesses and the issuance process will be made simpler, more transparent and accountable. Steps are also being taken to automate the system, he added.

DSCC Administrator Md Abdus Salam said arrangements would soon be made to allow traders and citizens to renew trade licences once every five years instead of annually.

The renewal process will also be made faster, easier and fully digital, he said. "Trade licences must be issued on the day of application. No delays will be tolerated."

Demand for equal enforcement of traffic laws

On traffic congestion, traders called for measures to control the number of autorickshaws on Dhaka's roads. They urged stricter regulation and safer, quality public transport.

Business leaders said private car owners face legal action for not wearing seatbelts, while similar enforcement is rare against CNG-run autorickshaws, rickshaws and other vehicles.

They also raised safety concerns over autorickshaws fitted with metal rod bumpers, which can endanger pedestrians, and called for stricter enforcement of traffic rules.

DMP Additional Commissioner Md Masud Karim said police are working to modernise law enforcement and traffic management to create a business-friendly environment.

It will take at least two years to fully fix Bangladesh’s power and gas shortages, Finance and Planning Minister Amir Khosru Mahmud Chowdhury said yesterday.

The government had inherited major infrastructure problems in the sector, he said at an event organised by the American Chamber of Commerce in Bangladesh (AmCham) at InterContinental Dhaka.

Resolving the problems would take time, the minister said, but the government was working to address them as quickly as possible. “We are not wasting a single moment on this.”

Khosru said the economy could not move forward without adequate electricity and gas.

“Everyone has talked about the electricity and gas shortages. We are struggling with these problems, and we are dealing with them now. I must admit that these are also problems we inherited from the past,” he said.

Regarding gas supply, he said decisions on floating liquefied natural gas terminals and onshore storage facilities were being finalised and would be announced within the next few days.

According to the minister, Bangladesh can generate a large amount of electricity, but inadequate transmission capacity has become a major problem.

The government is also reviewing its power generation policy and energy mix, he said. The mix would include renewable energy and gas-based power, while coal would remain an option.

“We are moving towards an integrated energy mix, and we have more or less finalised the combination,” he said, expressing hope for major improvements in the electricity and gas sectors.

Khosru also said deregulation was a major priority of the current budget, although implementing it in a highly regulated country like Bangladesh was challenging.

The government has formed a task force to oversee the process and launched a website where businesses and citizens can report bureaucratic obstacles and non-compliance, he said.

On taxation, he said the government was working to address longstanding corruption and harassment. It has decided to separate tax policy-making from tax administration at the National Board of Revenue.

An expert group will develop tax policies based on their impact on taxpayers and revenue collection, he said. The government is also moving towards full automation, including real-time online tax returns and rebates.

Khosru said the banking sector also required urgent attention as many banks are facing severe capital shortages and high levels of non-performing loans, leaving some depositors unable to withdraw their money and businesses struggling to secure working capital.

Recapitalising the banks will be difficult because the losses are too large for the government to cover through the budget alone, he said.

“We are therefore exploring a combination of government support and foreign fund management to stabilise and resolve the problems in the banking sector,” he added.

US INVESTMENT

Also speaking at the event, AmCham President Syed Mohammad Kamal said its members included major businesses and investors in power, energy, financial services, the digital economy, healthcare and information and communications technology.

Together, these companies contribute more than 20 percent of the country’s tax revenue, he claimed.

Kamal said American companies had invested around $5 billion in Bangladesh over the past 20 years.

AmCham members also aim to invest another $5 billion in the country over the next four and a half to five years, he said.

He identified advanced manufacturing, the digital economy, artificial intelligence, cybersecurity, healthcare, life sciences, renewable energy, financial services and semiconductors as sectors with strong investment potential.

The key challenge now, according to him, is to turn Bangladesh’s potential and policy reforms into lasting investor confidence and actual investment.

The AmCham president also said reforms must be implemented consistently to build investor confidence.

He stated that the government had completed its first six months as of yesterday, during which there had been considerable discussion about reforms and deregulation.

He said steps such as creating a more predictable tax regime were positive, but investors needed to see consistent implementation.

Macroeconomic conditions directly affect businesses through financing costs, consumer demand and investment efficiency, he said.

According to Kamal, investors have three key and interconnected priorities: energy, finance and predictability.

Capital-machinery imports, crucial for setting up factories and expanding production, take an average of 13.3 days to clear through Chattogram port, with more than half of that time being consumed before customs even receives the Bill of Entry (B/E), according to a latest analysis by Chattogram Customs House.

The findings were presented recently to Finance Minister Amir Khosru Mahmud Chowdhury at a meeting at the CCH.

A one-day delay in cargo clearance is estimated to result in a 1.0 per cent loss of trade, according to research cited in the presentation.

There has long been a blame game over delays at Chattogram port, with customs, importers, C&F agents and port authorities frequently pointing fingers at one another.

Veteran businessman Md Fazlul Hoque, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), however, rejected the allegation that importers deliberately delay clearance.

Importers have little reason to delay the process as they have to pay storage charges, he said, adding that, except in cases of cash-flow shortages, manufacturers would not want to prolong the clearance process.

The cost of the delays, however, is ultimately borne by businesses and consumers, as prolonged clearance of machinery can postpone factory commissioning, capacity expansion and new investment while adding to production and logistics costs.

A port operator, speaking on condition of anonymity, said customs authorities often create complications in releasing capital machinery by assigning separate HS codes to parts.

He cited the example of a tractor import whose battery was assessed separately as dangerous goods, resulting in duties several times higher than the import price.

As a result, the importer could not take delivery of the goods.

At the meeting, CCH officials proposed extensive consultations with stakeholders to identify the underlying causes of delays and prepare a time-bound action plan to improve port efficiency.

Harun Rashid, CEO and country head of MSC Mediterranean Shipping Company, said efficient shipping lines always try to expedite cargo clearance so that vessels can move on to their next destinations.

Shipping charges incurred because of delays are not particularly high compared with the cost of keeping a vessel idle, he said.

According to the CCH analysis, capital machinery requires the longest clearance time among the major categories examined. Commercial goods and toys take 11.6 days, while food items require 11.1 days on average.

Importers and C&F agents account for around 75 per cent of the total clearance time, compared with 14 per cent for the port and 8.0 per cent for customs, according to the paper.

Former chairman of the Bangladesh Shipping Agents Association Syed Mohammad Arif said delays may stem from confusion over HS codes or problems involving C&F agents.

Some importers intentionally allow the clearance process to become complicated, making CCH appear to be a bottleneck, he said.

Instances of capital machinery being released within four days at the port are rare, he added.

Sometimes importers fail to provide valid Bills of Lading or have outstanding payments to suppliers, preventing shipping agents from issuing the necessary documents, Arif said.

The CCH document said even businesses entitled to green-channel clearance as Authorised Economic Operators (AEOs) face clearance times of more than 11 days, despite customs assessment being conducted automatically through ASYCUDA World.

Nicholas Kallol Halder, senior executive in supply chain management at Square Pharmaceuticals, said around 40 per cent of the company's goods currently enjoy automatic customs assessment under the AEO facility.

The remaining 60 per cent still goes through scrutiny, he said.

"We applied for an upgrade to the upper tier of AEO in January, but it is still awaiting approval from the customs authorities," Halder said.

Machinery imports directly determine when a new factory can begin production or when an existing facility can expand its capacity.

To facilitate the import of capital machinery, the government offers a concessional import tax rate, with customs duty set at 1.0 per cent to support manufacturing growth.

The CCH has proposed greater use of pre-arrival processing (PAP) to address the problem. The system has proved a game changer in reducing port clearance time in India.

Under the proposed approach, much of the administrative work would be completed before cargo arrives at the port.

The analysis suggests that moving around 9.4 days of administrative work to the pre-arrival stage could reduce post-arrival clearance time to only 3.9 days.

A customs official said delays could not be fully addressed unless banking documents were automated and e-auctions, electronic seals and electronic locks were used more widely.

The CCH also reported progress in customs enforcement. Between January and June 2026, customs scanned 278,732 containers and detected 81 suspect consignments.

It also suspended or "locked" around 120 consignments a month based on intelligence, with prohibited goods such as drugs, liquor and cigarettes detected in a significant share of those cases.

The number of auctionable containers also declined to 654 in 2025 from 1,175 in 2024.

The Customs House handles around 85 per cent of Bangladesh's total trade. In FY 2023-24, it collected Tk 81,471 crore, equivalent to around one-fifth of the National Board of Revenue's total collection.

The port processes about 2,205 import Bills of Entry a day and handles around 35 lakh TEUs of containers annually.

The country's premier bourse started the week on a dismal note today (16 August), with the benchmark index extending its losing streak for a third consecutive session amid growing concerns over the gas crisis and possible changes to margin rules.

Market insiders said concerns over the impact of gas shortages on industrial production, coupled with uncertainty surrounding regulatory changes, prompted investors to offload shares, pushing most traded securities into negative territory.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) fell 23 points, or 0.39%, to close at 5,859. The blue-chip DS30 index also declined 8 points to 2,184.

Market breadth remained heavily skewed towards losers, with 247 issues declining against 102 gainers, while 41 remained unchanged.

Despite the decline in share prices, trading activity increased significantly. Turnover rose 22% to Tk1,130 crore, suggesting that the higher transaction volume was largely driven by selling pressure.

Investors remained cautious as concerns over gas shortages and uncertainty surrounding regulatory measures continued to weigh on market sentiment.

According to the daily market review by EBL Securities, the benchmark index continued its downward trajectory as investors chose to remain on the sidelines, awaiting greater clarity on the potential changes to margin rules. Market participants are intently assessing how these regulatory amendments will impact future liquidity and trading activity.

The brokerage firm further noted that expectations of weaker corporate earnings, fueled by the ongoing gas crisis which is severely hampering factory capacity utilisation, triggered the broad-based decline.

Sheltech Brokerage Limited observed that the market performance was primarily shaped by persistent selling pressure amid cautious sentiment. While the market opened with a brief spark of buying interest that lifted the DSEX to an intraday high of 5,916 points, the gains proved short-lived.

On the sectoral front, the general insurance sector emerged as the day's primary engine of activity, accounting for 26.4% of the total turnover. It was followed by the textile and pharmaceutical sectors, which contributed 19.8% and 9.6%, respectively.

Sectoral returns were mostly negative across the board. The life insurance sector faced the steepest correction of 2.4%, followed by jute and paper.

In a rare divergence from the overall gloom, the general insurance sector managed to post a gain of 2.2%, while the telecommunication sector stayed marginally afloat with a 0.2% uptick.

In the individual scrip segment, Mithun Knitting and Zaheen Spinning topped the gainers' list, both hitting the 10% upper circuit limit. Other notable gainers included Global Insurance, Alif Manufacturing, and Pacific Denims.

On the flip side, the losers' list was led by FAR Chemical, which shed 8.07%, followed by Sharp Industries, ML Dyeing, and Yeakin Polymer. In terms of liquidity, Malek Spinning, Beximco, and Samorita Hospital remained the most traded stocks of the day.

The bearish sentiment was mirrored at the Chittagong Stock Exchange (CSE), where the broad CASPI index plummeted by 68 points to finish at 15,735. The Selective Categories' Index (CSCX) also ended 46 points lower at 9,581. However, much like the premier bourse, the port city exchange witnessed a significant 64% jump in turnover, which settled at Tk75 crore.

Foreign investors continue to pull out of the local stock market due to a mix of nearly half a dozen reasons, including policy and regulatory uncertainty, weak corporate earnings and banking-sector problems, currency risks and overall negative sentiment.

In the last fiscal year 2025-26, foreign investors withdrew a net $223 million from the stock market. The outflow in FY26 was higher than the $138 million recorded a year earlier, according to Bangladesh Bank data.

Net foreign portfolio investment has been in negative territory since FY21, meaning investors have sold more shares and other securities than they have bought.

Market insiders say the experience of past policy interventions, particularly the repeated use of floor prices, has left foreign investors wary of the market.

A floor price sets a minimum level at which a share can be traded, restricting normal price movements.

“Besides, the interest rate cap in the banking sector was another reason,” said Kazi Monirul Islam, CEO of Shanta Asset Management.

The Bangladesh Securities and Exchange Commission (BSEC) introduced floor prices for the first time in 2020 to halt a fall in share prices during the Covid-19 pandemic. The regulator began lifting them in phases in 2021.

But the measure returned the following year. The BSEC lifted the floor price for 169 companies, while the remaining companies stayed under the restriction.

In 2023, the regulator again imposed floor prices on the 169 companies. A year later, the restriction was lifted from all but 35 companies.

After the fall of the Awami League government in August 2024, the floor price was lifted from all but two companies. After taking office in February this year, the BNP government lifted the floor price on the remaining two in June.

“There were some serious bad policies; the floor price was just one of them,” said Saiful Islam, president of the DSE Brokers Association of Bangladesh (DBA).

He said even MSCI (Morgan Stanley Capital International) had paused regular index reviews of Bangladesh after the floor price. It has now announced that it will resume regular index reviews from November this year following the withdrawal of the floor price.

The repeated intervention also damaged confidence because foreign investors compare Bangladesh with other markets when deciding where to put their money.

“Foreign investors invest in a country compared with other countries, so, if they find any country more suitable than Bangladesh, they shift,” said Monirul.

He said the country’s macro situation has improved and policy problems are no longer on the table, but it will take time to rebuild investor confidence. “Once investors burn their finger in a place, they cannot forget it easily.”

The banking sector has also weighed on sentiment. Previously, there were rate caps both on deposits and borrowing. The interest-rate caps raised concerns among investors about banks’ profitability and the predictability of financial-sector policy.

The cap has been lifted. But currently many banks have been under visible stress, while private-sector credit growth has weakened sharply, raising concerns about corporate investment, profitability and asset quality.

Both Monirul and Saiful pointed to banking-sector problems as another reason for the decline in foreign portfolio investment.

Regulatory decisions affecting individual companies have added to those concerns. One example was the Bangladesh Telecommunication Regulatory Commission’s (BTRC) decision to designate Grameenphone as a significant market power, a status that curtailed the company’s earning capacity in several ways.

“Following GP’s SMP categorisation, foreign investors started selling in the Bangladesh market heavily,” said Saiful.

Weak liquidity is another problem. There are relatively few large, liquid companies with strong governance and consistent earnings that global funds can invest in comfortably.

Foreign investors also have to weigh returns against currency risk. A weakening taka can reduce the value of their returns when they convert their investments back into dollars or other hard currencies.

Saiful said the sharp depreciation of the taka had been a problem for foreign investors.

Tax and repatriation concerns have also reduced the appeal of the market, as capital-gains taxes, transaction costs and uncertainty over taking money out of the country can affect overall returns.

Yet the market is not completely off the radar of foreign funds.

“Although net foreign investment is in the negative, new investors are interested in the Bangladesh market,” said Saiful.

He said positive developments, including a credible national election, the reconstitution of the BSEC and the new leadership’s quick decision to lift the floor price, have attracted some interest.

“Now, the market needs to ensure governance and bring investable stocks. Without these, foreign investors will not come to the market.”

The Dhaka Stock Exchange has 395 listed companies, of which 195 are in the A category, 74 in the B category and 126 in the Z category, according to DSE data.

“A collective responsibility is necessary to ensure governance in all spheres of the market and listing good stocks,” Saiful added.

Interest rates on treasury bills have declined by 21-25 basis points as banks are flush with excess liquidity while demand for private-sector credit remains weak.

According to Bangladesh Bank data, the yield on 91-day treasury bills fell below 9% to 8.93% yesterday (16 August), down from 9.19% a week earlier.

The yield on 182-day treasury bills declined to 9.07% from 9.32%, while the rate on 364-day bills fell to 9.13% from 9.33% over the same period.

Bankers attributed the decline mainly to excess liquidity in the banking system and weak demand for loans from the private sector.

The central bank data show that banks' surplus funds rose to Tk4,08,000 crore in June from Tk3,27,877 crore in May, an increase of Tk80,123 crore. The amount stood at Tk3,77,235 crore in April and Tk3,78,134 crore in March.

Bankers said deposit growth has improved as banks have offered relatively high interest rates to attract funds. By May, deposits at leading banks had grown by around 11.5% over the previous year.

As deposits continue to grow while credit demand remains subdued, banks are looking for safe investment avenues for their excess funds. Treasury bills have emerged as an attractive option for short-term investments, offering yields of around 9% with relatively low risk.

Several leading banks that accumulated substantial deposits in recent months have increased their investment in treasury bills, putting downward pressure on yields.

With deposit growth strengthening, many leading banks have also reduced deposit rates by 50-100 basis points since August.

Investment in treasury bills and bonds totalled Tk7,95,359 crore in FY26, up from Tk6,93,725 crore in the previous fiscal year.

Banks, insurance companies and other financial institutions are the major investors in government securities. Commercial banks, in particular, have increased their holdings as private-sector credit growth has slowed.

Bangladesh Bank removed the 9% lending rate cap on 1 July 2023 and introduced a market-based interest rate regime linked to the SMART system. Treasury bill and bond yields subsequently increased.

Yields crossed 12% at times during FY25, when deposit rates at different banks ranged between 9% and 11%.

Bankers said individual investors also showed unusually strong interest in treasury bills and bonds during that period, as the securities offered relatively high returns compared with other investment options.

Not long ago, the finance team in a company would have spent the week buried in paper, chasing invoices and posting entries by hand. Today the accountant opens one screen, and the numbers are already there, reconciled overnight. Instead of finishing the month-end close, the accountant is with the managing director, explaining what the figures mean.

This is one of the biggest changes in the history of the profession, and it is not only about technology. It is also about new business models, higher expectations, stronger ethics, and new skills, driven by digital systems, automation, artificial intelligence, data, sustainability and ESG reporting, evolving standards, globalisation and tax reform, tools such as blockchain, and, above all, people with the right knowledge. Start with the digital shift. Paper ledgers and manual journals are quietly disappearing. Transactions flow into cloud-based systems where the general ledger updates in real time, and a month-end close that once took two weeks can be done in hours. The role of the accountant shifts from recording to explaining. This makes the profession more valuable to business.

Close behind sits automation. Rule-based software now handles repetitive work that once filled the day: matching invoices to purchase orders, posting journal entries, running bank reconciliations, and processing payables. This frees skilled people from data entry for judgment, analysis, and advice. Artificial intelligence pushes this further, working through huge volumes of data in seconds. It can draft financial statements, forecast cash flow, and support audits by testing the full population of transactions rather than a sample, strengthening assurance. But AI is still a tool, not a replacement. It does not understand the culture of a company and cannot exercise professional judgment. The real story is humans working with machines.

That partnership matters most with data. Every business now produces more information than it can use, and the hard part is no longer gathering it but making sense of it, where management and cost accounting come into their own. Variance analysis and reliable forecasting turn a scorekeeper into a strategist. Investors, regulators, and the public now want to know not just how much a company earns, but how responsibly. Reporting on emissions, energy use, waste, staff wellbeing, diversity, and governance is becoming as important as the income statement. For Bangladesh, where exporters answer to global buyers, this is already a commercial reality.

Globalisation adds another layer. As local firms trade and raise capital across borders, they meet transfer pricing rules, multiple tax regimes, and the global minimum tax on multinationals. Tax administration is going digital too, with e-invoicing and real-time VAT reporting reshaping compliance. Accountants who understand both local rules and international practice will be in high demand. Running through all of it are trust and good governance. As money and records move online, so do the dangers, from cyber-attacks to digital fraud. Strong internal controls and protection of confidential information are now core duties, not afterthoughts. Ethics will stay at the heart of everything: financial information shapes the choices of lenders, employees, and the public. AI can calculate, but it cannot supply honesty or a sense of the public interest. As tools become more powerful, ethical leadership matters more, not less.

The accountant of tomorrow will not simply ask what happened last year. He or she will answer what is happening now and what the business should do next, as adviser, risk manager, and partner. For young people entering the profession, this is a real opportunity: not to race against AI, but to use it wisely while building the human qualities no machine can copy.

The writer is an economic analyst

For developing countries like Bangladesh, the key to economic success is not simply how quickly they adopt new technologies or attract investment. The deeper challenge is building strong institutions that create certainty, enforce contracts and support productive economic activity, said Professor Jean-Louis Arcand, president of the Global Development Network (GDN).

“Institutions are the single most important determinant of which countries get rich and which countries stay poor,” he said.

In an interview with The Daily Star recently, he said, “Without strong economic and political institutions, even countries rich in natural resources can remain poor, while countries with fewer resources can prosper.”

Jean-Louis said developing countries need to pay particular attention to institutions, the rule of law and how their economies function.

He also discussed the potential impact of artificial intelligence (AI), digital public infrastructure, linguistic sovereignty and investment in girls’ education.
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Jean-Louis is a Canadian economist born in Cameroon. He grew up in different parts of the world and earned his PhD from MIT in the United States. The GDN was initially created within the World Bank under Nobel laureate economist Joseph Stiglitz to strengthen research capacity in developing countries.

Jean-Louis said its core principle is that researchers from the Global South should identify local problems and formulate policies, rather than relying on consultants from Western countries.

Over 25 years, the GDN has supported more than $1 million in research by Bangladeshi researchers and is exploring Bangladesh’s membership.

He said the GDN is also studying whether digital public infrastructure, including digital IDs and mobile money, reaches marginalised groups. It is researching open transaction networks, inspired by India’s Open Network for Digital Commerce, and their potential in Bangladesh.

AI WILL ONLY REDIRECT LABOUR

On AI, Jean-Louis said that there is currently “a lot of hype” surrounding the technology. He said the GDN is studying how AI will affect labour markets.

Rather than simply asking whether AI will replace workers, researchers should examine which tasks AI can perform better than humans, he said.

He explained this using what economists call an “O-ring” production function. If a product depends on several tasks and one task fails, the entire product can lose its value. AI is therefore more likely to be adopted for tasks where the probability of human failure is high.

According to Jean-Louis, AI can substitute for workers in some high-risk tasks while increasing demand for workers performing other tasks.

“What AI does is it doesn’t so much eliminate labour; it redirects it to other tasks,” he said.

He said this could happen in sectors ranging from manufacturing to medicine.

In medical diagnosis, for example, AI can assist radiologists in identifying problems in X-rays. In other tasks where humans perform well, there may be less reason for companies to adopt expensive AI systems.

Jean-Louis said research suggests AI adoption could increase output by around 0.5 percent of GDP every year as firms adopt the technology. His simulations also suggest that poor countries could gain slightly more than rich countries from AI adoption.

“It won’t be a huge narrowing of the gap between poor countries and rich countries,” he said, but AI could still narrow the gap slightly.

The major constraint, however, is the cost of AI.

Jean-Louis said AI adoption remains very low in poor countries because the technology is still expensive. He said Chinese open-source models could change this by reducing the cost of adoption.

BUILD LOCAL AI CAPACITY

For Bangladesh, he said the economics of adoption will be particularly important. If an AI system costs much more than the labour it replaces, companies have little incentive to adopt it.

“I suspect that the cost of AI relative to the benefit is still very high in Bangladesh,” he said.

Jean-Louis also raised concerns about linguistic sovereignty.

He pointed out that there are very few large language models available in Bengali, with similarly limited resources for many other languages in the Global South.

“The linguistic sovereignty issue is actually very important for the Global South,” he said.

Developing countries, he argued, should not become so dependent on foreign AI models that access could eventually be restricted. He said there are economic reasons for countries in the Global South to develop their own large language models.

For Bangladesh, Jean-Louis said the country has enough talent and scale to develop its own models.

EDUCATING GIRLS A SMART INVESTMENT

The economist also highlighted another policy priority: educating girls.

The single most important determinant of development may be institutions, but when it comes to government investment, he said educating young girls can be one of the smartest investments a country can make.

Meanwhile, he said technology alone cannot solve development problems.

Jean-Louis said he has spent increasing amounts of time with technologists and found that many of them underestimate the importance of society, incentives and human behaviour.

“You could have the best technological solution for a problem. It will never get implemented if society and incentives are not taken into account,” he said.

Technology, he argued, is only the supply side. Understanding how people respond to it is equally important.

“The technology is supply, but then the demand has to do with human reactions,” he said.

India’s merchandise trade deficit widened more than expected to a six-month high of $31.98 billion in July, as the Middle East war drove up the country’s oil import bill and global freight rates.

The data underscores the growing pressure on India’s external balance, as a wider trade gap weighs on the rupee and capital inflows.A Reuters poll of economists expected the merchandise trade deficit in July at $30.20 billion. It stood at $30.43 billion in June.

Imports rose to $76.22 billion against $70.84 billion in June, driven by a rise in crude oil prices and surging imports of electronics goods and gold, data released by the trade ministry showed.Imports of electronics goods, including chips, rose more than 44 percent year-on-year in July to $14.37 billion, and gold imports climbed nearly 5 percent to $4.16 billion.Oil imports stood at $18.31 billion in July against $19.33 billion in June, reflecting higher global crude prices, data showed.

Goods exports hit a record high of $44.24 billion for July, surpassing the previous July peak of $38.34 billion in 2022, while they were $40.41 billion in June.

Exports of petroleum products, electronics and engineering goods have grown strongly so far this fiscal year, while shipments to the Middle East rose 8.6 percent year-on-year to $5.7 billion in July, Rajesh Agrawal, trade secretary, told reporters.

The US remained the top destination for Indian exports, with goods shipments at $33.49 billion in April-July, nearly matching last year’s level, data showed.

About 45 percent of India’s exports to the US remain exempt from the new 10 percent duty introduced by Washington in July, and India was actively engaging with US authorities to resolve outstanding trade issues, aiming for an early conclusion of a bilateral trade agreement, a trade official said.

Services exports remained robust at $35.89 billion in July, while services imports totalled $18.94 billion, resulting in a surplus of $16.95 billion, trade ministry estimates showed.

SHIPPING DISRUPTIONS SQUEEZE EXPORTERS

Freight rates on routes from South Asia to the United States and Europe have risen sharply in recent weeks, while rates to the Middle East remain elevated due to regional disruption, high fuel costs and tight vessel capacity, exporters and shipping-industry data showed.

The United States and Iran remain at loggerheads over efforts to agree to an end to the war, according to a senior Iranian source, who said there had been no progress in talks to revive the interim deal agreed in June and define a time frame to implement it.

The increase in freight rates is squeezing margins for exporters of rice, textiles, pharmaceuticals and engineering goods, who are also grappling with delayed shipments, stranded cargo and uncertainty over vessel schedules.

“Container shortages and shipping delays continued to disrupt the flow of materials, affecting production planning and throughput,” Sivaramakrishnan Ganapathy, vice president at Gokaldas Exports, told investors after the company’s quarterly results on Wednesday.

India’s top exporters’ body has urged the government to engage with global shipping lines, saying higher freight costs and a shortage of containers were undermining exporters’ competitiveness.

Crude oil futures climbed over $1 a barrel on Friday on tanker attacks and a lack of progress on a peace agreement between the Trump administration and Iran’s leadership.

Brent futures settled at $88.52 a barrel, up $1.45, or 1.67 percent. US West Texas Intermediate crude futures finished at $82.40, up $1.15, or 1.42 percent.
Brent and WTI were on track for weekly gains of 6.0 percent and 5.4 percent, respectively.

“We’re getting a rally going into the weekend after new attacks on tankers and lack of progress on a cease-fire agreement,” said Andrew Lipow, president of Lipow Oil Associates.

A “day of reckoning” may come if traffic in the strait of Hormuz remains constrained, through which 20 percent of global supply can pass, Lipow said.

“Crude oil prices might be $80 a barrel, but diesel prices are $180 a barrel and gasoline is $130 a barrel and that’s what’s hitting the consumer,” Lipow said.

On Thursday, the US said it could maintain a naval blockade of Iran indefinitely and increase economic pressure on Tehran in response to stalled ceasefire talks.

“Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation of a country,” Treasury Secretary Scott Bessent said on Newsmax’s “Rob Schmitt Tonight” program.

TRAFFIC SLOWS THROUGH THE STRAIT

As the US and Iran made claims over control of the strait, shipping traffic through the channel fell below the month’s average.

Before US-Israeli attacks on Iran began in late February, the strait handled about one-fifth of global oil and liquefied natural gas supplies.

Two vessels from the state-owned Abu Dhabi National Oil Company were attacked while transiting the strait on Thursday, the United Arab Emirates’ state news agency WAM said, an incident the UAE government condemned as an Iranian attack.

“That’s the headline that pushed up prices: Tankers attacked,” said Phil Flynn, senior analyst for Price Futures Group. Crude oil exports from Russia’s Sheskharis terminal at the Black Sea port of Novorossiysk were suspended on Friday following a drone attack, three sources familiar with the matter said, adding to disruptions at one of the country’s key export outlets.

Flynn said the Ukrainian attack on the port of Novorossiysk was also boosting prices.

While Middle Eastern supplies are constrained, OPEC forecasts pointed to weaker demand growth and US crude inventories posted their largest weekly increase in more than 3-1/2 years.

“This week’s reports by the IEA and EIA were quite revealing. Storage is holding up much better than feared, which should pull oil prices lower,” said Norbert Rucker, head of economics and next generation research at Julius Baer, referring to the International Energy Agency and US Energy Information Administration.

The United States urged the European Union on Friday to ease its laws putting responsibility on large firms for the environmental and social impact of their global supply chains, arguing the bloc had pledged such measures would not hamper EU-US trade.

US Ambassador to the EU Andrew Puzder said in a post on X that the 27-nation bloc should honour commitments made during trade talks with President Donald Trump in Turnberry, Scotland, in July 2025 to address so-called non-tariff barriers."Now it's time for the EU to deliver. Under the Framework Agreement, the EU committed 'to ensure' that its Corporate Sustainability Due Diligence Directive and Corporate Sustainability Reporting Directive 'do not pose undue restrictions on transatlantic trade'," Puzder wrote."Extraterritorial provisions harm American businesses and workers, but it is not just the US that will suffer."

A European Commission spokesperson said the EU and US were continuing to work on tariff and non-tariff issues.

The EU has explained its rules related to non-tariff issues, and emphasised its willingness to cooperate with the US to increase trade where possible, the spokesperson said.

"We have been very clear and consistent on the fact that neither our rules framework nor our regulatory autonomy are up for negotiation," they added.

Washington is also pushing the EU to amend its Carbon Border Adjustment Mechanism (CBAM), which imposes charges on imports of goods produced without meeting the bloc's carbon emissions standards.

The renewed pressure comes as US and EU officials turn their attention to non-tariff barriers after tariff commitments agreed in July 2025 took effect.

Three sources familiar with the discussions said they expected joint statements in the autumn covering the non-tariff elements of the Turnberry agreement.

Brussels has already softened some of the policies criticised by Washington over the past year, including its anti-deforestation law and methane emissions rules.

Several sources familiar with the EU position said the bloc was not planning further concessions on those measures.

SUSTAINABILITY RULES

The EU also scaled back its corporate sustainability rules, known as CSRD and CSDDD, last year after pushback from businesses and governments including the US and Qatar.

Changes agreed in December limited the scope of the Corporate Sustainability Due Diligence Directive (CSDDD) to the largest companies and delayed the compliance deadline by two years to mid-2029.

The Corporate Sustainability Reporting Directive (CSRD), which requires companies to report environmental and social impacts, will now apply only to firms with more than 1,000 employees, compared with the original threshold of more than 250 employees.

US companies including ExxonMobil had sought broader changes, including an exemption for foreign firms entirely.

"While the United States acknowledges some positive reforms in the December 2025 Sustainability Omnibus, those reforms failed to fully address US concerns regarding these directives," a statement accompanying Puzder's post said.