At Tejturi Bazar in the capital’s Tejgaon area, ridge gourd was selling at Tk 70–80 per kg and tomatoes at Tk 50–60 per kg yesterday, Thursday. Just a week earlier, both vegetables were Tk 10–15 cheaper per kg. The rise in prices has been driven by rainfall and higher transport costs.

Over the past week, prices have also increased for onions, cucumbers, aubergines, chillies and green papaya. Broiler chicken and eggs have also become more expensive. Among grocery items, the prices of sugar, coarse lentils and polao rice have gone up. Although the price of bottled soybean oil has been raised, supply in the market has yet to return to normal.

Traders said rainfall over the past few days has disrupted the regular supply of vegetables. Higher fuel prices have also pushed up transport costs. Together, these factors have driven up vegetable prices. These details emerged from visits yesterday to Mohammadpur Krishi Market, Town Hall Market and Tejturi Bazar, as well as conversations with buyers and sellers.

A market survey found that the prices of at least nine vegetables have increased over the past week. Cucumber recorded the sharpest rise. Hybrid cucumber prices jumped by Tk 30 per kg and were selling yesterday at Tk 80–100 per kg. Locally grown cucumber was priced slightly higher. Prices of aubergine, sponge gourd, snake gourd, ridge gourd and tomatoes also rose by Tk 10–15 per kg. Green papaya and chillies increased by Tk 20, reaching Tk 80–100 per kg.

According to the Department of Agricultural Marketing, compared with last month, cucumber prices have risen by 111 per cent, green papaya by 87 per cent, local tomatoes by 25 per cent and aubergines by 7 per cent.

Onion prices have also gone up by Tk 5 per kg over the past week, with local onions now selling at Tk 40–45 per kg. However, onions had remained unusually cheap for a long period this year, limiting farmers’ profits. The recent price rise may improve their returns.
Also Read

What is driving the price hike

Heavy rainfall hit the country last Sunday. After a two-day pause rain resumed on Tuesday night. Although the capital remained dry throughout yesterday, the meteorological office has forecast intermittent rainfall across the country for the next three days.

Aminul Haque, a vegetable trader at Karwan Bazar, told Prothom Alo that fewer vegetable trucks had arrived at the market over the past two days. In many areas, heavy rain has caused waterlogging in vegetable fields, preventing farmers from harvesting produce. This has pushed up prices for some vegetables. He added that buyer numbers were also lower as it was the month-end.

Meanwhile, the government has increased retail prices of all types of fuel in response to rising global oil prices. Diesel prices have risen by Tk 15 per litre, kerosene by Tk 18, octane by Tk 20 and petrol by Tk 19. This has also affected commodity prices.

Imran Master, president of the Bangladesh Kachamal Arot Malik Samity, told Prothom Alo that truck fares for transporting vegetables from Dhaka, Chattogram and Sylhet have risen by Tk 5,000–7,000 since fuel prices increased. Combined with lower supply caused by rain over the past three days, this has pushed vegetable prices higher.

Traders said rainfall over the past few days has disrupted the regular supply of vegetables. Higher fuel prices have also pushed up transport costs. Together, these factors have driven up vegetable prices.

Broiler chicken and eggs remain expensive

Farm eggs were selling yesterday at Tk 120–130 per dozen. Prices have remained at this level for more than two weeks. Earlier, eggs sold for Tk 100–110 per dozen. Higher transport costs have also contributed to the rise in egg prices. There is also some supply shortage, according to Mohammad Amanat Ullah, former president of the Tejgaon Egg Traders’ Association.

Broiler chicken prices also remain elevated. Broiler chicken is selling at Tk 190–200 per kg, compared with Tk 150–160 around six weeks ago.

Sonali chicken prices, however, have eased slightly. Yesterday, Sonali chicken was sold at Tk 350–360 per kg in three markets of the capital. Colourbird, or hybrid Sonali chicken, sold at Tk 320–330 per kg. Two weeks ago, Sonali chicken was Tk 30 higher per kg, while prices exceeded Tk 400 after Eid-ul-Fitr.

The price of packaged polao rice has increased by another Tk 15 per kg, taking the new retail price to Tk 190 per kg. Traders, however, are selling it at Tk 180–185, while older stock remains available at Tk 165–170. Loose polao rice is priced at Tk 150–160 per kg.

Two weeks ago, loose sugar prices rose by Tk 5 per kg to Tk 105–110, which remained stable there yesterday. Coarse lentils have also increased by Tk 5, now selling at Tk 90–95 per kg.

Soybean oil supply still disrupted

On Wednesday, the government increased prices of bottled and loose soybean oil by Tk 4 per litre. The price of one litre of bottled soybean oil was raised from Tk 195 to Tk 199, while loose soybean oil rose from Tk 176 to Tk 180. As a result, the maximum retail price of a five-litre bottle now stands at Tk 975.

The market has been facing a shortage of bottled soybean oil for nearly three months. During this period, companies had been demanding a price increase, citing rising global edible oil prices, while supply of bottled soybean oil remained low. Although the government had resisted the move for some time, the Ministry of Commerce approved the price hike on Wednesday.

However, a market visit one day after the increase showed that the supply shortage remains unchanged. Humayun Kabir, a grocer at Mohammadpur Krishi Market, said the supply of bottled soybean oil could improve within the next two to three days following the price increase. Dealers of three edible oil companies had informed them of this, he added.

OPEC+ agreed on ‌Sunday a modest oil output hike for June, an increase that will remain largely on paper as long as the Iran war continues to disrupt Gulf oil supplies through the Strait of Hormuz.

Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in June, the third consecutive ​monthly increase, OPEC+ said in a statement after an online meeting. The increase is the same as that agreed ​for May minus the share of the United Arab Emirates, which on May 1.

The ⁠move is designed to show the group is ready to raise supplies once the war stops and signals that OPEC+ is ​pressing on with a business-as-usual approach despite the departure of the UAE from OPEC+, OPEC+ sources and analysts said.

"OPEC+ is sending a ​two-layer message to the market: continuity despite the UAE's exit, and control despite limited physical impact," said Jorge Leon, an analyst at Rystad and former OPEC official.

"While output is increasing on paper, the real impact on physical supply remains very limited given the Strait of Hormuz constraints. This is ​less about adding barrels and more about signaling that OPEC+ still calls the shots."

Top OPEC+ producer Saudi Arabia's quota will rise ​to 10.291 million bpd in June under the agreement, far above actual production. The kingdom reported actual production of 7.76 million bpd to ‌OPEC in ⁠March.

The seven members who met on Sunday were Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman. With the UAE leaving, OPEC+ includes 21 members including Iran. But in recent years only the seven nations plus the UAE have been involved in monthly production decisions.

HIKE REMAINS LARGELY SYMBOLIC UNTIL HORMUZ RE-OPENS

The Iran war, which began on February 28, and the resulting closure of the ​Hormuz strait have throttled exports from ​OPEC+ members Saudi Arabia, ⁠Iraq and Kuwait, as well as from the UAE. Before the conflict, these producers were the only countries in the group able to raise production.

Even when shipping through the Strait of Hormuz ​reopens, it will take several weeks if not months for flows to normalise, oil executives from ​the Gulf and ⁠global oil traders have said.

The supply disruption has propelled oil prices to a four-year high above $125 per barrel as analysts begin to predict widespread jet fuel shortages in one to two months and a spike in global inflation.

Crude oil output from all OPEC+ members ⁠averaged 35.06 ​million bpd in March, down 7.70 million bpd from February, OPEC said in ​a report last month, with Iraq and Saudi Arabia making the biggest cuts due to constrained exports.

The seven OPEC+ members will meet again on June 7, ​the statement said.

Sri Lanka raised fuel prices by nearly 4% today (3 May), further fuelling inflation, which more than doubled last month due to the Middle East war.

Since March, Sri Lanka has raised fuel prices by more than 35%, while gas and electricity rates have also increased by a similar amount.

The island has also rationed fuel following supply disruptions.

Today, the state-owned Ceylon Petroleum Corporation increased the price of kerosene -- used by agricultural machinery -- to 265 rupees ($0.85) a litre, up 10 rupees.

Petrol rose 12 rupees to 410 rupees ($1.32). Diesel was up 10 rupees to 392 rupees.

Higher energy prices pushed inflation to more than double, reaching 5.4% in April, according to official data.

Fuel and electricity tariffs drove up transport costs as well as food prices, the Department of Census and Statistics said.

The island has been slowly emerging from the 2022 economic meltdown, when it ran out of foreign exchange reserves to pay for essential imports such as food, fuel and medicines.

However, it was hit hard in November by a cyclone that killed at least 643 people and affected more than 10% of the island's 22 million population.

The storm caused an estimated $4.1 billion in direct physical damage to buildings and agriculture, according to the World Bank.

The country has been stabilising its fragile economy with the help of a $2.9 billion IMF bailout agreed in early 2023, but high energy prices have seriously challenged recovery efforts.

Bangladesh received $3.12 billion in remittances in April, a 13.5% increase from the same month a year earlier, according to data released by Bangladesh Bank today (3 May).

In April last year, expatriates sent $2.75 billion in remittances.

However, inflows retreated from March's record high of $3.75 billion, with bankers attributing the surge largely to a seasonal spike in transfers ahead of Ramadan and Eid-ul-Fitr.

Despite the monthly decline, remittances have remained above the $3 billion mark for five consecutive months. Bankers see this as a positive sign for the economy, pointing to greater use of formal channels and stronger earnings by migrant workers.

In the current fiscal year 2025-26, remittances have maintained robust growth, helping to bolster foreign exchange reserves. Between July and April, total inflows reached $29.33 billion, up 19.5% from $24.54 billion in the same period a year earlier.

Economists say the rising inflows could help ease pressure on the external sector, support exchange rate stability and strengthen overall macroeconomic conditions if the trend holds in the coming months.

They expect remittances to increase further in May, driven by the upcoming Eid-ul-Adha at the end of the month.

Bankers noted that a narrowing gap between exchange rates in the informal market and official banking channels has encouraged expatriates to send money through formal means.

Bangladesh Bank has been purchasing US dollars from commercial banks through auctions, buying more than $4 billion so far in the 2025-26 fiscal year as of early February, in a bid to stabilise the foreign exchange market and build reserves.

The exchange rate has recently hovered between Tk122.75 and Tk122.90, as authorities seek to prevent excessive appreciation of the taka while supporting remittances and export earnings.

Earlier, despite a decline in exports, rising imports and the onset of war, the exchange rate remained stable at Tk122.75 per US dollar.

Foreign exchange reserves currently stand at $35.10 billion, or $30.47 billion under the IMF's BPM6 method.

Following a payment of $1.37 billion to the Asian Clearing Union (ACU) on 9 March, reserves had fallen to $34.10 billion, with the BPM6 measure at $29.38 billion.

Bangladesh's reserves had reached a historic high of more than $48 billion in August 2021.

They later dropped to $20.48 billion under the BPM6 method and $25.92 billion in gross terms by the time of the fall of the Awami League government. During the 18-month tenure of the interim government, reserves have increased by $10 billion.

Advanced Chemical Industries (ACI) PLC is set to further diversify its business portfolio by entering the stationery market through a joint venture with the Chinese industry leader, Deli Group.

In a regulatory filing on Thursday, the local conglomerate informed that its board of directors approved the formation of a new company titled "Deli ACI Bangladesh Limited" in a meeting held on 29 April. The joint-venture entity will have an authorised capital of Tk100 crore and an initial paid-up capital of Tk27 crore.

ACI PLC will hold a 50% stake in the new venture, with the partnership remaining subject to the approval of the relevant regulatory authorities.

The collaboration aims to combine Deli's international expertise in stationery manufacturing with ACI's extensive local market knowledge and its massive nationwide distribution network.

The company stated that the venture will introduce a wide range of stationery solutions for students, professionals, and creative users, focusing on functionality, durability, and contemporary design while meeting both global standards and local demand.

Founded in 1981, Deli Group is a prominent Chinese stationery manufacturer. As of October 2018, it was recognised as the largest stationery manufacturer in Asia. The group operates several global sub-brands, including Deli Tools, Deli Plus, Deli Genius, Agnite, Nusign, and Dmast, focusing on office and school supplies.

This move marks ACI's fifth major international partnership. At present, the conglomerate operates four successful joint-venture companies: pladis ACI Bangladesh Limited (with the UK's pladis), ACI Godrej Agrovet Private Limited (with India's Godrej), ACI CO-RO Bangladesh Limited (with Denmark's CO-RO), and Colgate-Palmolive ACI Bangladesh Private Limited (with the US-based Colgate-Palmolive).

A total of 197 listed companies in Bangladesh's stock market have failed to comply with the requirement of appointing at least one woman independent director in their boards, according to the Bangladesh Securities and Exchange Commission (BSEC).

Out of 360 listed firms, 163 companies (around 45%) have complied with the directive over the past one and a half years. However, another 66 companies have not responded to the regulator's directive at all.

Among the remaining companies, 131 firms have requested additional time from the Bangladesh Securities and Exchange Commission (BSEC) to comply with the requirement.

BSEC has instructed the non-compliant companies to complete the appointment of women independent directors by 30 June, 2026, in line with the Corporate Governance Code, 2018. The commission has also warned that legal action will be taken against companies that fail to meet the requirement within the deadline.

The instruction was reiterated in a meeting held with company secretaries of non-compliant listed firms. The meeting emphasised strict enforcement of the rule and urged companies to take immediate steps.

According to the amended gazette issued on 29 April, 2024, every listed company is required to appoint at least one woman independent director to ensure better governance and board diversity. Initially, companies were given one year to comply, which was later extended to December 2025. However, as several firms still failed to meet the requirement, the deadline has now been pushed further to June 30, 2026.

BSEC has urged companies to select qualified female professionals from diverse backgrounds for the role. Suggested categories include business leaders, corporate professionals, members of business associations, university teachers, government officials (serving or retired), professionals with relevant degrees, and lawyers from the High Court Division.

BSEC officials stated that increasing women's participation in corporate boards is essential for strengthening corporate governance. They believe it will improve transparency, accountability, and diversity in decision-making processes within listed companies.

At the same time, some market stakeholders argue that a shortage of experienced female professionals in certain sectors is creating challenges for companies. Many firms, especially in manufacturing industries, still operate under traditionally male-dominated board structures, making the transition slower.

However, experts counter that qualified female professionals are widely available in banking, insurance, academia, legal practice, and public administration. They argue that lack of initiative, rather than shortage of talent, is the main reason behind the delay.

BSEC Commissioner Farzana Lalarukh had earlier noted that many companies are still not complying with the mandatory requirement, indicating weak corporate governance practices. She also pointed out issues such as irregularities in appointing company secretaries and the dominance of family-controlled boards, which often limits the effectiveness of independent directors.

She further mentioned that social and family barriers also discourage women from taking leadership roles in corporate boards. The commission is working to develop a stronger pool of qualified women directors and is also considering possible flexibility in appointment policies if needed.

According to BSEC officials, some companies have not prioritised compliance, while using the excuse of not finding suitable candidates.

Industry observers note that ensuring women representation at the board level is not just a compliance requirement but a key part of effective corporate governance. It can improve risk management, ethical standards, and long-term strategic decision-making.

BSEC has already indicated that after 30 June, strict enforcement measures will be taken against non-compliant companies. These may include warnings, monetary penalties, and other administrative actions under securities laws.

Company secretaries attending the meeting were instructed to complete the appointment process within the deadline and formally report compliance to the commission.

Bangladesh's merchandise exports showed signs of a strong turnaround in April, snapping eight months of subdued performance with a sharp 32.92% year-on-year growth.

According to data released by the Export Promotion Bureau (EPB) today (3 May), the recovery was driven largely by a rebound in garment shipments and improving buyer confidence following the national elections.

Export earnings rose to $4.01 billion in April, up from $3.02 billion in the same month last year. On a month-on-month basis, shipments also increased by 15.20% from $3.48 billion in March.

The April performance marks one of the strongest monthly gains in recent times, suggesting that export orders – particularly in key markets – are beginning to recover after a prolonged slowdown.

However, the broader picture remains mixed.

In the first 10 months of the current fiscal year (July-April), total export earnings stood at $39.40 billion, down 2.02% from $40.21 billion in the same period a year earlier. This indicates that while recent gains are significant, they have yet to fully offset earlier declines.

Exporters attributed the surge to a combination of a low base effect from last April and renewed buyer confidence following the elections.

Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), attributed the increase to two primary drivers.

"First, last year's Eid-ul-Fitr fell on 31 March, with holidays extending through 6 April, which significantly curtailed exports during that period. Compared to that low base, this year's full month of uninterrupted operations naturally resulted in much higher figures," he told TBS.

He further noted that many international buyers had taken a "wait-and-see" approach ahead of the national elections in February. "Following a credible election, buyer confidence has stabilised, positively impacting April's earnings," Mahmud said.

According to the BGMEA president, while the data shows a massive spike, organic export growth for April sat closer to 8-10%. He cautioned that May is unlikely to replicate this performance due to the upcoming Eid-ul-Azha holidays but expressed optimism for a rebound in June, provided geopolitical tensions in the Middle East subside.

Garment sector drives recovery

The ready-made garment (RMG) sector, the backbone of the country's export economy, once again led the recovery.

RMG exports rose 31.21% year-on-year to $31.72 billion during the July-April period, accounting for the bulk of export earnings. In April alone, garment shipments climbed to $3.14 billion from $2.39 billion a year earlier, reflecting a strong pickup in orders.

Despite this robust performance, the sector's cumulative earnings remain slightly below the previous year's $32.64 billion.

Fazle Shamim Ehsan, senior vice-president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), also attributed the surge to a post-election boost in buyer confidence and seasonal demand.

He noted that lower order volumes in previous months had depleted buyer inventories, while April and May are traditionally peak periods for winter garment shipments, both of which fuelled the April boost.

However, Ehsan cautioned that growth in May could be dampened by Eid-ul-Azha holidays, and that a slowdown in new orders may affect momentum from June onward, depending largely on geopolitical developments in the Middle East.

However, BKMEA President Mohammad Hatem said the recent spike largely reflects deferred shipments from March rather than a surge in fresh orders.

He explained that March exports dipped because factories closed for 10 days during Eid-ul-Fitr, causing production backlogs that were finally cleared in April.

"To our knowledge, factories have not seen unusually high additional orders or a sudden influx of new buyers," Hatem said.

He warned that exports could face renewed pressure later this month as another holiday period threatens to disrupt production schedules again. "To understand the true export trend, we must wait until July. While temporary increases may persist through June due to shipment adjustments, the actual picture will only become clear then."

Uneven recovery beyond garments

Beyond garments, however, the export earnings remain uneven.

Non-RMG sectors, including primary commodities and several manufacturing segments, have yet to show a comparable recovery, dragging down overall export growth. EPB data suggests that while some categories posted modest gains in April, their contribution remains limited and volatile.

Market-wise, the recovery appears broad-based.

Exports to major destinations such as the United States and the United Kingdom recorded strong year-on-year growth, while all of Bangladesh's top 20 export markets posted positive gains in April. This indicates a gradual normalisation of demand across key regions after months of contraction.

Still, a trade economist cautions against reading too much into a single month's performance.

"The April numbers are encouraging, but the key question is whether this momentum can be sustained," said Dr Mohammad Abdur Razzaque, chairman of RAPID, a private think tank. "Sustaining this pace of growth will be challenging."

Razzaque, also a trade economist, noted that the strong April performance may partly reflect a low base effect, as export earnings in April last year were relatively weak.

Reckitt Benckiser Bangladesh, a listed multinational on the bourses, reported a 9.99% year-on-year decline in revenue and a 28.31% drop in net profit after tax in the first quarter of 2026.

During the January to March quarter, its revenue declined to Tk132.61 crore, a lower from Tk147.34 crore, while its profit declined to Tk10.99 crore, a lower from Tk15.33 crore in the same time of the previous year, its report showed.

At the end of March 2026, its earnings per share (EPS) declined to Tk23.26, which was Tk32.45 in the same time of the previous year.

The quarterly financials published today (3 May) on the stock exchanges. Following the financials results, the company's shares fell 2.69% or Tk93.4 each closed at Tk3,377 each at the Dhaka Stock Exchange (DSE).

In 2025, Reckitt Benckiser reported a profit of Tk81.71 crore with an EPS of Tk172.93, which was Tk75.20 crore and EPS of Tk159.17 in 2024, its data showed.

Based on its financials, its board recommended a 1,730% final cash dividend meaning that Tk173 against each shares.

To approve its financials and dividend by the general shareholders, the MNC scheduled its annual report on 29 June thorough the digital platform.

Reckitt Benckiser had paid a record-high 3,330% cash dividend for 2024 to its shareholders.

Reckitt Benckiser (Bangladesh) PLC is a subsidiary of the UK-based Reckitt Benckiser Group plc. It is a well-known manufacturer of health, hygiene, and home products, with several leading brands in Bangladesh.

The company manufactures and marketed of households (hygiene), toiletries and pharmaceutical (health) product.

Reckitt Benckiser is a well-known and trusted company in Bangladesh's FMCG sector. It offers a wide range of products, including Dettol, Harpic, Lizol, Trix, Mr Brasso, and Veet.

As of March this year, out of its total shares, sponsor-directors held 82.96%, government 3.77%, institutional shareholders 6.80%, foreign 0.01% and general public held 6.46%.

Most listed drug manufacturers in Bangladesh posted double-digit year-on-year profit growth in the first nine months through March, supported by rising demand, efficient cost management, and a stable forex market. Bangladeshmarket report
FE

Market analysts attributed the growth to higher sales volumes, improved operational efficiency, and sustained demand for medicines both domestically and in export markets.

The sector's performance stands out at a time when many other industries-including multinational companies-are grappling with elevated operating costs amid persistent inflationary pressure.

"Sales of lifesaving drugs increased due to strong local demand, while leading companies successfully managed to keep operating costs lower," Salim Afzal Shawon, head of research at BRAC EPL Stockbrokerage, told The Financial Express over the phone.

The growing population, coupled with rising awareness of healthcare needs, has amplified demand for generic medicines in the local market, particularly for chronic diseases.

The aftermath of the Covid-19 pandemic has further underscored the importance of healthcare, leading to a heightened focus on medical preparedness and infrastructure, which in turn has positively impacted the pharmaceutical industry.

"People now prioritise healthcare spending more than before, which is contributing to higher sales and profitability," said Mr Shawon. Marketupdate service

This resilience allows leading pharmaceutical companies to sustain strong revenue and profit growth, he added.

Combined profits of eight major drug manufacturers rose nearly 14 per cent year-on-year to Tk 27.22 billion during July-March of FY26. Over the same period, total sales increased 13 per cent year-on-year to Tk 155 billion.

Among the eight, Techno Drugs and Silco Pharma saw their profits decline, mainly due to lower sales and higher finance costs.

Silco Pharma's profit fell 19 per cent year-on-year in the nine months through March, as its finance costs more than doubled to Tk 170 million due to increased borrowing.

Techno Drugs' profit also dropped 16 per cent due to lower sales and higher tax expenses. Its sales declined 10 per cent year-on-year, while tax expenses surged 19 per cent during July-March FY26 compared to the same period a year earlier.

Beximco Pharma and Navana Pharma have yet to publish their third-quarter financial results. Financialdata analytics

Overall, the pharmaceutical sector has remained resilient despite broader economic challenges such as inflationary pressure and rising production costs.

Square Pharma, the country's largest drug maker, posted a 10 per cent year-on-year increase in profit to Tk 20.64 billion for the nine months through March. Revenue rose 12.5 per cent to Tk 65.08 billion.

The company attributed the sustained growth to several factors, including rising domestic demand for healthcare products, export earnings, and income from subsidiaries.

Square Pharma's local sales grew by more than 9 per cent, while revenue from its Kenya subsidiary rose 4.5 per cent year-on-year during the period.

The company also reduced its finance costs by 55 per cent, supported by the partial repayment of long-term loans.

"The drug maker continues to grow in both sales and profit owing to strong consumer trust in its products," said Akramul Alam, head of research at Royal Capital.

He highlighted Square Pharma's competitive edge in producing high-quality generic medicines at relatively low costs, supporting its long-term growth trajectory. Globalmarket forecast

Another leading drug manufacturer, Renata, posted 28 per cent year-on-year profit growth in the first nine months through March, driven by strong operating profit and reduced finance costs following a capital restructuring initiative.

"Profitability improved on the back of better gross margins, efficient procurement, and tight control over expenses, including lower financing costs through major capital restructuring," said the company.

"We successfully lowered finance costs by deploying the proceeds from preference share issuance to retire high-cost debts, a move that has structurally reduced our interest burden going forward," Mustafa Alim Aolad, chief financial officer of Renata, told The Financial Express over the phone recently.

Renata's domestic sales, which account for almost 74 per cent of total revenue, grew by more than 10 per cent, while export revenue rose 5 per cent, aided by a wave of international regulatory approvals.

Beacon Pharmaceuticals recorded the highest profit growth among its peers, registering a 59 per cent year-on-year increase. The growth was driven by higher sales, lower input costs, efficient production planning, and prudent financial management, the company said.

IBN Sina Pharmaceutical Industry also posted strong results, with profit rising 33 per cent and sales increasing 18 per cent, backed by solid operational performance.

Meanwhile, although Advanced Chemical Industries (ACI) remained in the red, its pharmaceutical segment posted 21 per cent year-on-year sales growth during the period under review. Its consolidated losses shrank to Tk 71 million in July-March of FY26, one-eleventh of the losses recorded during the same period of the previous year.

Bangladesh's pharmaceutical industry, which meets 98 per cent of local demand, remains one of the country's success stories, having recorded remarkable growth in recent years. Bangladeshmarket report

Export performance has also remained steady. Pharmaceutical exports reached $170.67 million in the first nine months of FY26, marking growth of more than 3 per cent, driven largely by demand from Asian markets such as Sri Lanka and Myanmar.

Mr Alam said that with continued investment, regulatory compliance, and a growing skilled workforce, the local pharmaceutical sector is poised not only to sustain but also to accelerate export growth in the coming years.

The Bangladesh Investment Development Authority (Bida) has recently submitted 20 deregulation proposals to the finance ministry, aiming to significantly ease doing business without reducing tax rates.

The proposals, developed through a series of consultations with business leaders, focus on removing procedural bottlenecks, reducing compliance costs, and improving predictability in regulatory processes, Bida officials told The Business Standard.

Business representatives believe that if implemented, the measures would lower operational expenses, save time, and boost investor confidence.

Push for risk-based audit system

A key recommendation is the introduction of a risk-based audit system to replace the current practice of selecting firms for audit without clear criteria.

At present, companies are often subjected to repeated audits immediately after submitting their audited financial statements, leading to complaints of unnecessary harassment.

Under the proposed system, the National Board of Revenue would use predefined risk parameters – such as abnormal fluctuations in turnover, inconsistencies in input-output ratios, and repeated refund claims – to automatically identify firms with a higher likelihood of tax evasion.

This "automated audit selection" process would allow authorities to focus enforcement on high-risk cases while reducing pressure on compliant taxpayers.

Reducing reliance on LCs, promoting digital trade

The report suggests reducing dependence on traditional Letters of Credit (LCs) by introducing alternative digital payment and settlement methods. Such reforms could make international trade faster and more cost-effective.

Customs reforms and global benchmarking

Bida has also recommended improving transparency in customs valuation by integrating international price databases alongside domestic references.

To illustrate best practices, the proposals cite VNACCS – Vietnam's automated cargo clearance system – which uses real-time data and reference pricing. Under that model, goods declared within an acceptable price range are cleared automatically through a "green channel," significantly reducing delays.

Adopting similar mechanisms could streamline Bangladesh's customs procedures, cut bureaucratic complexity, and shorten clearance times, according to the proposals.

24/7 port operations to cut logistics costs

Business leaders identified limited port operating hours as a major constraint. Despite growing trade volumes, full-scale 24/7 operations are not consistently available due to restrictions in banking and customs services.

Bida has recommended round-the-clock port operations, which could help reduce congestion and lower logistics costs.

In addition, the proposals suggest allowing up to 80% of import clearance through off-dock facilities in phases, supported by regular audits and risk-based monitoring to ensure compliance.

Concerns over indiscriminate audit, AIT

Speaking to TBS, Business Initiative Leading Development Chairperson Abul Kasem Khan said even long-compliant taxpayers frequently face repeated audits, creating uncertainty and discouragement.

"We have seen cases where companies with a strong compliance record and even recognition as top taxpayers are repeatedly audited. This undermines confidence," he said.

Kasem, who was a former president of the Dhaka Chamber of Commerce and Industry, also highlighted concerns over Advance Income Tax (AIT), noting that in many cases businesses pay more tax than their actual liability, with refunds delayed.

"As a result, the effective tax rate can rise to 40-50%, putting pressure on working capital," he said, adding that excess payments should either be refunded quickly or adjusted against future tax liabilities.

NBR signals support for easing compliance

Addressing a consultative committee meeting organised by the NBR and the FBCCI last week in Dhaka, Finance Minister Amir Khosru Mahmud Chowdhury, said the government is committed to dismantling the existing regulatory barriers to doing business.

NBR Chairman Abdur Rahman Khan recently said the government is focusing not only on tax rates but also on simplifying business processes.

"Our priority is to reduce unnecessary complexities and make compliance easier so that businesses can operate more efficiently," he said at a pre-budget discussion.

Bangladesh needs a decisive push to mobilise revenue by immediately launching reform measures, accelerating automation, and gradually phasing out existing tax exemptions, said economists and policymakers at an event organised by the National Citizen Party (NCP) yesterday.

The national convention on energy, economy, human rights, reform and referendum was held at the Institution of Diploma Engineers in Dhaka.

“Many discussions were held and numerous committees formed, but we saw no meaningful progress in the revenue sector,” said M Masrur Reaz, chairman and CEO of Policy Exchange Bangladesh.

“No reforms took place during the Awami League era, and unfortunately, the interim government also failed to act. A new government is now in place and may need time, but if reforms are not launched within the next two to three months, we risk losing this opportunity again,” he added.

Reaz described the country’s economic challenges as a “four-plus-one dimension”-- four domestic weaknesses alongside one global factor.

He said the country’s key drivers of employment and growth have stalled, while economic governance had largely collapsed before August 5, marked by banking irregularities, oligarchic control in energy, and mismanagement of public spending.

He also pointed to the absence of revenue reform, failure to formalise the informal economy, and rising dependence on external debt as major concerns.

At the event, Hasnat Abdullah, lawmaker and chief organiser (Southern Region) of the NCP, said that automating tax and customs systems through cashless, paperless processes integrated with NID is now essential.

He noted that complexities in the current manual tax system discourage compliance.

“If we automate the system and integrate it with NID, under-the-table compromises can be reduced to near zero. Many European countries have been practising this for years,” he said.

AKM Waresul Karim, dean of the School of Business and Economics at North South University, said governance failures have driven stagnation in the banking sector.

“Corruption, nepotism, politicisation, and prolonged authoritarian practices have undermined institutional integrity,” he said.

Confidence in state-owned commercial banks has eroded, he noted. Citing a review of Janata Bank, he said 70 percent of its loans are non-performing. Following recent political upheaval, the boards of a number of banks were reconstituted, and a Bank Resolution Ordinance was introduced, merging five banks.

However, he criticised the provision allowing previous bank owners to reclaim ownership by repaying only 7.5 percent of government liquidity support, calling it a tactic to restore control to specific individuals.

AKM Fahim Mashroor, CEO of Bdjobs, said overall unemployment in Bangladesh remains below 4 to 5 percent, but youth unemployment is three to four times higher. Each year, about 700,000 graduates enter the job market, of whom 50 to 60 percent remain jobless.

“Unemployment is not just an economic issue-- it is a social and political one,” he said, adding that high interest rates and energy constraints may deter investment in the near term.

He suggested promoting entrepreneurship and facilitating overseas employment through government-backed loans.

Sarjis Alam, chief organiser (Northern Region) of the NCP, chaired the first panel discussion. Shams Mahmud, former president of the Dhaka Chamber of Commerce, Chartered Financial Analyst Asif Khan, and Javed Rasin, joint convener of the NCP, also spoke at the event.

Bangladesh is set to issue its eighth government investment Sukuk worth Tk 59 billion (Tk 5,900 crore) to finance the construction and development of important bridges on rural roads under a revised project, according to an official statement.
FE

The seven-year “CIBRR-1 Socio-Economic Development Sukuk” will be issued under the project titled Construction of Important Bridges on Rural Roads (1st Revised). The prospectus and Shariah declaration of the Sukuk have already been finalised with approval from the Shariah Advisory Committee under the Debt Management Department.

The auction for the Sukuk will be held for the first time on May 13, 2026, using Bangladesh Bank’s in-house Shariah Securities Module (SSM) system.

According to the prospectus, Sukuk will be issued through an auction-based lease structure with a face value of Tk 59 billion (Tk 5,900 crore), maturing on May 14, 2033.

Investors will receive a total rental return of Tk 42.95 billion (Tk 4,295.20 crore) over seven years, equivalent to an annual return of 10.40 percent, payable on a semi-annual basis.

Banks and financial institutions having current or Al-Wadiah accounts with Bangladesh Bank will be eligible to participate directly in the auction. In addition, domestic and foreign individual investors, corporate bodies, investment companies, insurance companies, provident funds and deposit insurance funds may also participate through eligible banks and financial institutions maintaining accounts with Bangladesh Bank.

Investors will be able to submit bids online through the SSM system using their Sukuk Investor (SI) ID in multiples of Tk 10,000 between 10:00am and 3:00pm on May 13, 2026.

New investors must complete their SI ID registration through their respective banks by May 12, 2026.

The successful bidders will be informed of their allotted Sukuk amount through their respective accounts at 4:00pm on the auction day, the statement said.

Bangladesh government has sought extended financial and technical supports from foreign development partners to weather the economic shocks stemming from the Gulf crisis and to accelerate implementation of its election pledges, officials say.
FE

Formal requests for the support were despatched to a broad coalition of multilateral and bilateral lenders recently, officials from the Economic Relations Division (ERD) told the FE Saturday. The list of financiers includes the World Bank, the Asian Development Bank (ADB), Japan, the Asian Infrastructure Investment Bank (AIIB), German lender KfW, and the OPEC Fund for International Development (OFID).

The Finance Adviser to the Prime Minister, Dr Rashed Al Mahmud Titumir, sat with Bangladesh's development partners in Dhaka in the just-past last month to convince the development partners about the urgency. GeographicReference

At the meeting, some of the DPs assured of supporting the government in implementing its poll manifesto and overcome the exigencies, the ERD officials say.

The move comes as the government seeks to "weather the impact" of volatility in the Gulf region, which has significant implications for Bangladesh's energy costs and remittance inflows.

Beyond crisis management, the funding is intended to provide the fiscal space necessary to execute the socioeconomic promises laid out in the government's recent election manifesto.

"After the meeting, we have formally written to the DPs to help Bangladesh," says one official.

According to the ERD officials, the ADB and the WB have already assured of extending their budget support to Bangladesh amid the current gulf crisis.

Although the ADB earlier had assured of some US$750 million worth of budgetary support for Bangladesh within this fiscal year (FY), 2025-26, it now assured of enhancing the proposed financing to $1.0 billion following Bangladesh's request, says a senior ERD official.

The World Bank is expected to provide at least $500 million worth of budget support to help weather the Gulf crisis as well as meet the immediate needs of the newly elected government, especially for the social-safety-net programmes and reforms, he adds.

"In addition to our traditional bilateral and multilateral donors, we have already requested some non-traditional ones, including KFW, OFID, AIIB and Middle-eastern countries, to offer financial and technical supports to Bangladesh," the ERD official says.Financial

In a proactive bid to secure these commitments, Dr Rashed Al Mahmud Titumir held a high-level meeting with representatives of the development partners in Dhaka last month.

Sources privy to the discussions note that the Finance Adviser underscored the urgency of the situation, emphasizing the need for both concessional loans and technical cooperation to maintain the country's growth trajectory.

The ERD officials indicate that the requested support would be channeled into several key areas, including macroeconomic stabilization, offsetting the rising costs of fuel and commodities linked to the Gulf turmoil, advancing megaprojects and regional-connectivity initiatives in line with national development goals.

The government has also sought support in the social-safety-net programmes for ensuring the election manifesto's focus on poverty reduction and social protection, say the officials.

While the development partners have historically been supportive of Bangladesh's developmental journey, the scale of this coordinated request highlights the complexity of the current global economic climate, they add.

"The government is looking for a comprehensive partnership to not only overcome immediate hurdles but to build a more resilient Bangladesh," another ERD official says, indicating newer

"The discussions led by Dr Titumir were a crucial step in aligning our development partners with our national priorities."

The ERD is expected to engage in follow-up technical negotiations with individual lenders in the coming weeks to finalize the volumes and terms of the prospective aid packages, he adds.

An Iranian proposal on negotiations with the U.S. sent crude oil futures diving on Friday, ‌but prices remained on track for weekly gains, with Tehran still blocking the Strait of Hormuz and the U.S. Navy blocking exports of Iranian crude.

Brent crude futures for July settled at $108.17, down $2.23 a barrel, or 2.02%. West Texas Intermediate futures finished at $101.94 a barrel, down $3.13, or 2.98%.

Iran sent its latest proposal for negotiations with the United States to Pakistani mediators on Thursday, state news agency IRNA reported on Friday, a ⁠move that could improve prospects for breaking an impasse in efforts to end the Iran war.

Still, the Brent benchmark and WTI were poised for a 2.95% gain over the week. Brent's June contract hit $126.41 a barrel on Thursday, marking the highest level since March 2022, before ending the session down.

"This Iran proposal has given hope to the market that there is an off-ramp for the United States," said Phil Flynn, senior analyst with Price Futures Group.

Oil prices have been on the rise since the U.S. and Israel attacked Iran at the end of February, resulting in the closure of the Strait of Hormuz and the disruption of shipments of about a fifth of ‌the world’s ⁠oil and liquefied natural gas supply.

A ceasefire has been in place since April 8. UAE presidential adviser Anwar Gargash said on Friday Tehran could not be trusted over any unilateral arrangements it makes for the Strait of Hormuz, in a sign of deep mistrust on all sides.

By the end of trading on Friday, the oil market appeared to be accepting the uneasy truce in ⁠the conflict.

"The market rises and falls on the prospects of an outcome to the conflict," said John Kilduff, partner with Again Capital. "And right now the situation is a stalemate, at least until the market closes."

A senior official of Iran's Revolutionary Guards had ⁠threatened on Thursday "long and painful strikes" on U.S. positions if Washington renewed attacks on Iran, pushing oil prices to intraday peaks before retreating.

U.S. President Donald Trump was scheduled to receive a briefing on Thursday on plans for a ⁠series of fresh military strikes on Iran to compel it to negotiate an end to the conflict, a U.S. official told Reuters.

Washington did not immediately announce any details of its plans.

US ​exports of liquefied natural gas to Asia jumped in April, with American producers helping offset reduced supplies ‌from Middle Eastern exporters as the Iran war curtailed output in the region, preliminary ship-tracking data from financial firm LSEG showed.

Nearly a quarter of all US LNG exports went to Asia during the month, marking a sharp increase since the conflict ​began in late February and underscoring the growing role of the US as a swing supplier amid elevated prices and strained ​global gas flows.

Shipments to Asia have risen more than 175 percent since the US and ⁠Israel launched strikes on Iran, climbing from about 970,000 metric tons in February to 1.99 million metric tons (MT) in ​March and 2.71 MT in April, the data show.

Asian spot LNG prices remained elevated. The Japan Korea ​Marker benchmark averaged $17.92 per million British thermal units (mmBtu) in April, down slightly from $18.27 in March but still about 17 percent above Europe’s TTF benchmark, which averaged $15.34 per mmBtu in April, down from $17.99 in March.

The increase in US shipments to Asia came ​even as overall LNG exports slipped from a record high in March, falling to 10.97 MT in April ​from 11.7 MT in March, LSEG data showed.

The decline was largely due to April having one fewer day than March ‌and ⁠delays in cargo loadings. Gas flows to US LNG export plants reached a record 18.8 billion cubic feet per day during April, up from the previous peak of 18.7 bcfd in February, according to LSEG.

The US shipped its first LNG from the Golden Pass terminal in April with a single cargo sent to Belgium. ​Golden Pass - a joint ​venture between QatarEnergy (QATPE.UL) and ⁠Exxon Mobil XOM.N - drew just under 300 million cubic feet per day of gas during the month but exported one cargo, which may have contributed to the ​gap between record feedgas demand and lower LNG exports.

Europe remained the top destination for ​US LNG, ⁠receiving 6.14 MT, or just under 56 percent of April exports, according to the data. Egypt was also an active buyer, importing about 710,000 metric tons of US LNG during the month, more than the total 500,000 metric tons ⁠shipped ​to Latin America.

One cargo was delivered to South Africa, a ​rare destination for US LNG. Nine LNG vessels that departed US ports in April were still seeking buyers, including two anchored near ​the Suez Canal, ship-tracking data showed.

Gold rose on Thursday on ‌dip-buying, but was on track for a second straight monthly fall as elevated oil prices kept fears of inflation and higher-for-longer interest rates alive.

Spot gold was up 1 percent at $4,588.09 per ounce, as of ​0736 GMT, after falling to its lowest point since March 31 in ​the last session. Bullion was down about 1.7 percent so far this month.

Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here.

US gold futures for June delivery rose 0.4 percent to $4,578.10.

“Gold has struggled again this month ​as oil strength has dominated the narrative. Rising crude pushes up inflation expectations and interest ​rate forecasts, which in turn caps gold’s appeal,” said Tim Waterer, chief market analyst at KCM Trade.

However, “a combination of bargain-hunting and expectations that a peaceful resolution to the (US-Iran) conflict will be found at ​some point are providing something of a floor for gold,” he said.

Brent crude ​rose above $124 a barrel on a report that the US was considering potential military action against Iran to ‌break ⁠the deadlock in negotiations to end the war, increasing concerns about more supply disruptions to already curtailed Middle East exports.

The Federal Reserve held interest rates steady on Wednesday, but in its most divided decision since 1992 noted rising concerns about inflation in a policy ​statement that drew ​three dissents from officials ⁠who no longer feel the US central bank should communicate a bias towards lowering borrowing costs.

Traders are now pricing in no ​Fed rate cuts this year, with markets seeing a 30 percent chance ​of a ⁠hike by March 2027, sharply up from roughly 5 percent a day prior.

While gold is traditionally seen as a hedge against inflation, high interest rates weigh on its appeal as ⁠a non-yielding ​asset.

The government has formed a high-powered panel to review the widely discussed ordinances on revenue reform framed by the Prof Muhammad Yunus-led interim administration.

The ordinance and its subsequent amendment on Revenue Policy and Revenue Management, along with 12 other ordinances, lost validity as the parliament failed to ratify them within the constitutionally mandated 30-day period since its first sitting on March 12.

According to a Cabinet Division notification issued on April 28, the nine-member panel will be headed by Ismail Zabiullah, the prime minister’s adviser on public administration, to re-examine the Revenue Policy and Revenue Management Ordinance and its amendment.

Framed in May 2025, the ordinances sought to separate tax policy formulation from collection and to form two divisions by dissolving the NBR, which drew massive protests from revenue officials in June
The committee includes Rashed Al Mahmud Titumir, adviser to the prime minister on finance and planning, along with the cabinet secretary and secretaries of the finance, public administration, and legislative divisions.

The National Board of Revenue (NBR) chairman will serve as the member-secretary of the panel to review the ordinance and make recommendations to propose a new bill for revenue reform, a key condition tied to the International Monetary Fund’s (IMF) $5.5 billion loan programme approved for Bangladesh.

Multilateral lenders, including the IMF, had long advocated reforms in the tax system and administration to boost revenue collection, as Bangladesh has one of the world’s lowest tax-to-GDP ratios.

Framed in May 2025, the ordinances sought to separate tax policy formulation from collection and to form two divisions by dissolving the NBR, which drew massive protests from revenue officials in June.

The process of separation was further delayed in the later months due to bureaucratic wrangling over the organogram and rules of business.

Subsequently, the interim administration left office, leaving the implementation of the law to the next elected government.

At a meeting with the Economic Reporters’ Forum on April 25, Finance Minister Amir Khosru Mahmud Chowdhury termed the country’s tax framework historically “half-baked” and said a new committee has been formed to separate tax policy from execution, ensuring future policies “genuinely reflect the will of the people.”

The government has selected two Chinese companies to drill three wells at different locations across the country at a cost of Tk 945 crore.

The Cabinet Committee on Government Purchase approved the firms for key energy exploration projects at its 19th meeting, held yesterday and chaired by Finance Minister Amir Khosru Mahmud Chowdhury. The projects aim to strengthen the country’s gas and oil reserves.

Under a BAPEX project, two exploratory wells -- Srikail Deep-1 and Mobarakpur Deep-1 -- will be drilled as part of a three-well programme. The contract for these two wells was awarded to CNPC Chuanqing Drilling Engineering Company Limited at a cost of Tk 713 crore.

The committee also approved the drilling of the Sylhet-12 oil well under a separate project. The contract was awarded to Sinopec International Petroleum Service Corporation (SIPSC) at a cost of Tk 232 crore, covering drilling and related works.

Foreign financing received by Bangladesh fell 19 percent year-on-year in the July-March period of fiscal year 2025-26 (FY26), mainly due to the slow implementation of foreign-funded development projects.

The government received $3.89 billion in foreign loans during the nine months of FY26, down from $4.80 billion in the same period of the previous fiscal year, according to provisional data from the External Resources Division (ERD) published yesterday.

Data from the Implementation Monitoring and Evaluation Division under the Ministry of Planning showed that implementation of the foreign-funded Annual Development Programme (ADP) stood at 34.56 percent in July-March this year, slightly lower than 35.8 percent in the same period last year.

Of the loans received by Bangladesh, Russia disbursed $828 million, according to ERD data.

However, debt servicing rose to $3.52 billion during July-March, up 9 percent from $3.21 billion a year earlier. Interest payments accounted for $1.24 billion of the total repayment.

ERD data also showed that commitments from both multilateral and bilateral lenders declined during the period.

Total commitments in July-March FY26 stood at $2.80 billion, down 6.6 percent year-on-year. All commitments during this period were in the form of project assistance.

Bangladesh is facing a deep economic crisis and may need to endure "two difficult years" to recover, Finance Minister Amir Khosru Mahmud Chowdhury warns.
FE

As such, he says, the government is likely to take measures that may not be popular.

During discussion on the motion of thanks on the President's address in parliament on Thursday, the minister said, "We may have to endure hardship for two years. The next two years will be difficult. We will have to make many decisions and steps some of which may not be popular."

Presenting what he describes as a grim picture of the economy, the finance minister said the country's tax-to-GDP ratio has fallen below 7.0 per cent, the lowest in South Asia. The poverty rate stands at 29.93 per cent, prompting him to remark: "Look at the condition we are in now in terms of the economy."

He further mentions that capital-machinery imports, which were 53 per cent during the last tenure of the Bangladesh Nationalist Party, have dropped sharply to 14.5 per cent. Private -sector credit growth has also declined to 6.0 per cent compared to 18.2 per cent in 2005-06. Default loans in the banking sector have surged to 30 per cent. "When a country's banking sector has this scale of non-performing loans, the economy almost grinds to a halt," he tells the newly elected parliament after a political changeover. Politics

The custodian of exchequer further notes that the government currently provides annual subsidies amounting to Tk 360 billion, with an additional Tk 200-300 billion required this year.

External overdue payments stand at US$508 million for fuel imports and $737 million for gas.

The deposed administration has been accused of widespread "corruption, looting and money laundering" across the banking sector and other industries during its one-and-a-half-decade rule, he points out. A white paper was prepared under the interim government led by Muhammad Yunus to assess the state of the economy.

In addition, he informs the House, the Anti-Corruption Commission has filed cases against several industrial groups, Sheikh Hasina, and members of her family on allegations that include money laundering. Measures such as asset seizures and freezing of bank accounts have also been taken.

Despite these efforts, the economy has yet to recover during the post-uprising interim period.

The situation worsened further after the outbreak of the Iran War on February 28, which put additional pressure on sectors such as energy under the new BNP-led government.

Addressing the parliament, the finance minister says the economy has been pushed to such a low level that only tough reforms, deregulation, and structural changes could restore stability. Newspapers

He stresses that lifting the economy from its current situation would require decisive and, at times, unpopular policy measures over the coming years.