Bangladesh opts to measure economic growth and national wealth creation on UN scales to help policymakers make precise policy on accurate data, removing scepticism about traditional official statistics.

Bangladesh Bureau of Statistics (BBS) is planning to measure net domestic product (NDP) as recommended by the United Nations' agency concerned, according to BBS officials.

They say this pivot seeks to provide policymakers with a more comprehensive picture of economic growth and wealth creation.

The new measure is expected to be derived from the revised national accounts, which will be prepared with 2025-26 as the new base year.

The BBS might publish the first such estimates in April-May 2028, according to people familiar with the developments.

The move would mark a significant expansion of national-accounting system, as conventional GDP largely measures the value of economic output without deducting the depletion of natural assets such as forests, minerals, fisheries and other natural resources. Under the new approach, BBS will seek to incorporate the UN System of Environmental-Economic Accounting (SEEA) into its national accounts. The framework is designed to bring environmental and economic information together, allowing assessment of how economic activity affects their natural-asset base.

"The UN statistical system is now placing greater emphasis on such measures of national wealth," a senior BBS official told the FE, adding that the international statistics division is increasingly looking to move "beyond GDP".

Bangladesh currently publishes key national income indicators such as gross domestic product or GDP and gross national income (GNI).

GDP measures the value of final goods and services produced within the country during a given period, while net domestic product deducts the consumption or depreciation of fixed capital from GDP.

In its conventional form, NDP, therefore, provides a picture of how much output remains after allowing for the wearing out or loss of productive assets such as machinery, buildings and vehicles.

The proposed approach would go a step further by recognising the economic cost of the depletion of natural resources.

This distinction is important because an economy could record strong GDP growth while simultaneously reducing the stock of natural assets on which future production and livelihoods depend.

For example, excessive extraction of minerals, depletion of forests or overuse of fisheries may generate current income while weakening the economy's productive-asset base over time.

The broader NDP would, therefore, seek to provide a clearer picture of whether economic activity is generating sustainable wealth or drawing down the country's natural capital.

The statistical bureau will need to establish methods for valuing the depletion of different natural resources--an exercise that is likely to require new datasets and coordination among government agencies responsible for natural resources and the environment, BBS people said.Bangladesh Investment Opportunities

The national statistical agency also plans to calculate net national disposable income (NNDI) as part of the broader revision of the national-accounting framework.

The planned changes are part of a wider overhaul of Bangladesh's national statistics as the BBS updates its national accounts and adopts newer international statistical standards.

The new indicators could offer a more complete basis for assessing economic progress-particularly at a time when environmental degradation, resource depletion and climate-related losses are becoming increasingly important to the country's long-term economic outlook.

Oil prices gained for the first time in five sessions on Tuesday as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week after more supplies emerged through the Strait of Hormuz over the weekend.

The Brent crude futures November contract rose $1.72, or 1.7 percent, to $102.06 a barrel at 0617 GMT.
The WTI October contract, which expires on Tuesday, climbed $1.62, or 1.7 percent, to $97.4 a barrel.

The more actively traded November contract was up $1.28, or 1.4 percent, at $93.65 a barrel.Tehran and Washington exchanged threats on Sunday, though US President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the UN meeting."The move higher in WTI and the stronger open in Brent have the appearance of a typical short-covering bounce after the recent decline, rather than a fundamental shift," said Tim Waterer, chief market analyst at KCM Trade.

"Traders who were positioned for further downside are taking some risk off the table while the diplomatic narrative plays out."

Over the weekend, Iran also conveyed its conditions to mediators for re-engaging in negotiations, Al Jazeera reported, citing Iran's security chief, Mohsen Rezaei.

Waterer said oil prices were likely to remain range-bound and sensitive to headlines until there was either clear progress or a setback in diplomatic efforts between the US and Iran.

Middle East tensions remained elevated after Yemen's Iran-backed Houthis said they attacked Riyadh and a Saudi Aramco facility in Yanbu and stepped up efforts to cut off Saudi-backed forces from the Red Sea coast.

China has privately urged Tehran to help curb attacks by the Houthis, three Iranian sources said, after Saudi Arabia appealed to Beijing following a recent surge in the group's military operations.

Saudi Aramco has increased exports through the Strait of Hormuz after attacks on its East-West Pipeline forced it to halt some shipments through Yanbu.

Around 14 million barrels of its crude oil were loaded on seven supertankers inside the Gulf on Sunday, tanker tracking data showed.

"Supply concerns are easing as shipments through the Strait of Hormuz reach a six-month high and Saudi Arabia works to restore its East-West pipeline ... Crude implied volatility eased 3.3 percent to 50.39, although it remains historically elevated," said Saxo Bank analysts in a client note.

Separately, an armed group closed valve seven on Libya's Sharara crude pipeline to Zawiya port on Monday, resulting in a significant decline in production at the Sharara oilfield, Libya's National Oil Corporation said in a statement.

Production at the field has fallen by around 200,000 barrels per day and is currently between 100,000 and 105,000 bpd, two engineers at the field told Reuters.

In a major bid to restore investor confidence, the Dhaka Stock Exchange (DSE) will start paying compensation to 17,332 affected clients from 28 September while introducing risk-based capital supervision and digital oversight to prevent brokerage fund embezzlement.

The initiative will enable nearly 97% of the 17,925 investors affected by five defaulted brokerage houses – Moshihor Securities, Tamha Securities, Crest Securities, Shah Mohammad Sagir & Co Ltd, and Banco Securities—to fully recover their claims of up to Tk5 lakh each from the Investment Protection Fund (IPF).

Announcing the landmark decision at a press conference today (22 September) at the DSE Tower in Nikunja, DSE Chairman Maminul Islam said the five rogue brokerages had collectively embezzled Tk250 crore from their clients.

At the event, the DSE also launched its new website with featuring the real time market update including detail information about the listed companies.

The DSE chairman said they had received claims from affected investors amounting to Tk72 crore so far. Of this, Tk35 crore had already been disbursed through recoveries from the brokerage firms. The remaining Tk37.60 crore will be paid from the IPF, with the disbursement scheduled to begin on 28 September and expected to take one to two months to complete.

He said funds from the IPF would be disbursed to verified affected investors of Moshihor Securities Limited starting 28 September. The outstanding dues of verified affected investors of the other four firms will also be paid in phases according to schedules to be announced later. Only investors who receive an SMS from the DSE will be eligible to collect their cheques from the DSE office on their designated dates.

While 17,332 investors will receive their full claims under the Tk5 lakh payout ceiling, the remaining 593 investors with larger claims will still have outstanding dues. The DSE chairman assured that legal measures, liquidation of securities held by the defaulting brokerages, recovery from directors' personal assets, and future inflows into the IPF would be mobilised to settle their remaining claims.

Describing the compensation plan as a moral duty rather than merely a regulatory requirement, Maminul Islam said the embezzlement had severely affected retired people, teachers, judges and small retail investors, leaving them financially stranded. The initiative has received full cooperation from the Bangladesh Securities and Exchange Commission (BSEC), which expanded the compensation scheme to cover clients of all five defaulted brokerages following a request from the DSE.

To ensure sustainable funding for investor claims, the Investor Protection Fund receives contributions from brokerage trading commissions, as well as 25% of the interest earned on funds held in brokerage accounts, under a policy decision adopted in 2025.

Meanwhile, legal action against the offenders is still underway, with four defaulted firms facing prosecution by the Anti-Corruption Commission (ACC) and another involved in ongoing court litigation.

The DSE chairman said the ACC had already submitted charge sheets against two firms to the court.

DSE to introduce digital surveillance

Alongside investor relief, the capital market operator is taking preventive measures to ensure such financial scams do not recur. DSE Managing Director Nuzhat Anwar said the premier bourse will introduce Risk-Based Capital Supervision and upgrade its IT infrastructure to digitally monitor brokerage activities.

Recognising that physical audits of roughly 250 operational brokerage houses are impractical given current staffing levels, the DSE plans to leverage automated digital surveillance to detect irregularities early and prevent fund diversion.

Speaking about the broader vision for the market, IPF Chairman Nasreen Begum expressed confidence that the settlement process would strengthen investor protection and restore public trust in the capital market. She added that a secure investment environment is crucial to driving national economic growth.

T+1 settlement, Nasdaq trading engine in reform drive

The DSE is also preparing a series of structural reforms to modernise Bangladesh's capital market infrastructure. By December 2026, the exchange aims to introduce T+1 settlement and scrip netting to speed up transactions and improve market liquidity.

A dedicated trading platform for open-end mutual funds is scheduled to launch by November 2026, enabling seamless trading under existing regulations.

Looking ahead, the DSE plans to deploy Nasdaq's advanced trade-matching engine and introduce financial derivatives by January 2028, backed by comprehensive market awareness campaigns.

The exchange is also upgrading its disaster recovery system by December 2026 and finalising industry reclassification following board approval and regulatory consultation.

To boost fixed-income trading, the DSE has cut bond valuation costs by nearly 80% and is encouraging new corporate bond listings on the main board. To attract high-quality equity listings and address a listing drought that has persisted for more than two years, the DSE aims to bring at least 10 blue-chip companies to the market by 2027 through direct listings or initial public offerings (IPOs).

To facilitate this, the exchange is preparing draft rules for direct listings and simplifying IPO regulations. As an incentive, it will offer a 50% waiver on listing fees for companies applying for IPOs or direct listings by March 2027.

Meanwhile, high-level government efforts are underway to attract foreign portfolio investment through international debt instruments.

Maminul Islam said the government has initiated steps to issue sovereign bonds for international investors. A high-level delegation, including the prime minister, finance minister and special assistant to the prime minister on capital markets and investment, is visiting New York to meet leading global investment banks.

The initiative seeks to facilitate commercial and sovereign bond issuances and attract sustained foreign capital inflows into Bangladesh's financial markets.

Gold prices fell on Tuesday as expectations of interest rates staying higher for longer weighed on sentiment, with investors awaiting comments from US Federal Reserve officials for policy clues.

Spot gold was down 0.6percent at $4,319.39 per ounce by 0652 GMT. US gold futures fell 0.6percent to $4,356.30. Bullion is traditionally viewed as a hedge against inflation and geopolitical risks, but its appeal tends to wane in a high-interest-rate environment as investors favour yield-bearing assets.
With US economic data this week, investors will focus on comments from Fed officials for signs of whether the central bank is leaning toward another rate increase in October, as well as on crude oil prices, said Chris Weston, head of research at Pepperstone.“While crude has come modestly off its recent highs, a reversal higher that builds inflation expectations would only intensify the rates story, and gold would likely continue to face headwinds,” said Weston.

The Fed raised its policy rate by a quarter of a percentage point last week and flagged more hikes in the coming months.

The US central bank will likely need to hike rates further to lower inflation resulting from strong demand as well as a commodity price shock that has moved beyond oil, St. Louis Fed President Alberto Musalem said, adding that it would be better for the Fed to act sooner than wait.

On the geopolitical front, Houthi fighters pushed to seize strategic heights in Yemen to cut off the Red Sea coast from remaining areas held by Saudi-backed forces, after a report that US President Donald Trump had called off American strikes on the group at the last minute.

Oil prices gained for the first time in five sessions as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week.

Spot silver fell 1.1percent to $65.28, platinum lost 1.1percent to $1,777.29 and palladium declined 0.8percent to $1,290.07.

Prime Minister Tarique Rahman and World Bank Group President Ajay Banga today (22 September) discussed Bangladesh's development priorities, economic progress and ways to further strengthen World Bank support for the country's development efforts.

During their meeting at the UN Headquarters in New York on the sidelines of the United Nations General Assembly, they also exchanged views on ways to explore opportunities to expand areas of partnership between Bangladesh and the World Bank in the future, according to a release issued by the Prime Minister's Office.

Earlier in the day, Prime Minister Tarique Rahman attended a welcome breakfast hosted by UN Secretary-General António Guterres for heads of delegation and their spouses.

He later joined the high-level General Debate of the 81st session of the UN General Assembly at the UN Headquarters.

The prime minister is scheduled to hold a series of bilateral and high-level meetings with heads of government and senior officials of international organisations during his brief stay in New York.

He is scheduled to address the General Assembly on September 24, delivering his first speech at the world body as prime minister. He is expected to outline Bangladesh's vision for the future, its development priorities and its position on major regional and global issues.

A gas and power crisis has hit production at most Bangladeshi garment makers, ​but at 4A Yarn Dyeing, a supplier to Walmart, Gap and Next, workers stitch hoodies and attach brand logos uninterrupted, at ‌least for now.

Since 2019, 4A has generated its own power, including through solar panels, making it an exception in Bangladesh’s garment industry, the world’s second-biggest exporter after China. The Middle East crisis has worsened energy shortages in the country where much of the electricity is generated using natural gas, furnace oil and diesel.
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A recent survey of 134 ​knitwear factories found that 55 percent had seen buyers cancel or cut orders because of gas and power shortages since late August, ​and 78 percent had partially halted production. The factories also reported shipment delays and discounted orders to buyers.

But that’s not yet the case at 4A, whose factory on Dhaka’s outskirts employs nearly 7,500 workers and meets around 40 percent of its electricity needs through solar, ​the rest mainly through its own gas and diesel generation.“We never stayed at a single-source energy dependency. We had backups for everything,” said company co-owner ​Abdullah Hil Nakib. “We need some sort of certainty. But the cost of doing business has increased. First there was a shortage of oil, then a shortage of gas.”

Costlier diesel has pushed 4A’s production costs up by 2 percent to 3 percent, adding up to Tk 5 million ($40,950) to its monthly fuel bill, he said.The pressure on factories intensified on ​Monday after Bangladesh raised fuel prices by up to 17.4 percent, a move the government said was necessary because of soaring global prices and higher shipping ​costs due to the Middle East conflict triggered by US-Israeli attacks on Iran in February.

To reduce future disruptions, 4A plans to install an industrial-scale battery system that ‌would allow operations to continue for several hours if power sources fail.“We’ve been able to absorb the extra costs, but not every factory can afford to do that,” said Nakib, whose factory roofs are nearly covered in solar panels.

STEEP FUEL PRICE HIKE TO PILE MORE PRESSURE

Soaring gas import costs are slowing the country’s industrial growth, causing electricity outages and hurting spending on development projects due to higher gas subsidies, Bangladesh’s power minister said last week.

Bangladesh’s ready-made garment sector ​accounts for more than 80 percent of ​export earnings, employs about 4 million workers and contributes around 10 percent to gross domestic product.

Some manufacturers have incurred additional costs by shipping goods by air or offering discounts to meet delivery deadlines after energy-related disruptions.

“Our margins are already very thin, and the fuel ​price hike will squeeze them further,” said garment exporter Shahidullah Azim. “It is becoming increasingly difficult for us to ​absorb higher production and transportation costs while remaining competitive.”

Azim said a Canadian buyer that had been expected to order 25,000 pieces ultimately placed an order for only 8,000, which he attributed to declining buyer confidence amid Bangladesh’s economic and energy challenges.

Companies may be able to pay higher fuel costs, but gas shortages and power cuts are more worrying ​for some, given that those problems are not as intense in competitors like Vietnam ​and India, said Mohiuddin Rubel, additional managing director of Denim Expert Ltd, which supplies to brands including H&M.

“Whether we hold our position against other sourcing countries or lose ground to them ​depends on how well we manage it,” he said.

A large number of employees were recruited at Islami Bank Bangladesh during the S Alam era in violation of recruitment rules, without job advertisements or written examinations, according to a Bangladesh Bank inspection report that uncovered widespread irregularities.

Between 2017 and 2024, the bank recruited 8,099 employees from Chittagong district, accounting for 74.77 percent of all hires, Bangladesh Bank data show.
The concentration was particularly pronounced in Patiya upazila, which accounted for 5,148 recruits, or 47.5 percent of total hires and 63.56 percent of Chittagong’s recruits. S Alam Group Chairman Mohammed Saiful Alam hails from Patiya.

The report attributed the concentration largely to the absence of publicly advertised vacancies, which limited opportunities for candidates from other parts of the country.

Contacted, Arief Hossain Khan, executive director and spokesperson of Bangladesh Bank, told The Daily Star that he was not aware of the report’s findings, but action would be taken against those responsible if any irregularities were found.

In September last year, Islami Bank terminated more than 5,000 officials who did not appear for a special competency evaluation test ordered by the management on September 22 for 5,385 officials whose recruitment was questionable.

The officials were appointed by the S Alam Group without any examination and with fake certificates after the Chattogram-based business group forcibly took over the bank in 2017, the BB report showed.

The S Alam Group’s control over Islami Bank ended in August 2024 with the fall of the Awami League regime. Bangladesh Bank dissolved the bank’s board, which was heavily dominated by individuals linked to the conglomerate.

The new board’s HR audit found that more than 10,000 of the bank’s 21,000 officials had been appointed after the 2017 takeover, according to the bank’s HR department.

CV BOXES REPLACED JOB ADS

The inspection report found that candidates were sourced without advertisements or written tests through CV collection boxes at S Alam Group Chairman’s home in Patiya and the group’s Asadganj office in Chattogram.

The boxes were labelled for different categories, including Patiya General, Patiya Cash, male general/cash, Satkania-Lohagara, Gandamara-Banshkhali, Hindu general, female cash and peon/diploma positions, the report said.

In 2019, 178 trainee officers were recruited for the 24th Probationary Officer batch without a newspaper advertisement, violating the bank’s HR policy and prescribed recruitment procedures. Four probationary officer batches -- the 23rd, 24th, 25th and 26th -- were recruited through direct entry.

The BB report said the bank’s rules required written and oral examinations, with candidates needing at least 50 percent in the written test to qualify for the viva. Vacancies were also required to be advertised in at least two national dailies at least 15 days before recruitment. These requirements were not followed in several cases.

In May 2019, the bank issued appointment letters to 178 people, while a memo instructed that 126 of them be sent to First Security Islami Bank at its request. The inspection report said the bank, not being a human-resource agency, was not authorised to make such an arrangement.

The report also found that some DMDs, including Md Akiz Uddin and Miftah Uddin, did not meet the required experience criteria, including the minimum experience in their previous positions and as officers. It further observed that some policy changes after 2017 appeared to have provided unjustified benefits to certain groups.

BB FLAGS UNEQUAL ASSESSMENTS

Bangladesh Bank also found discriminatory treatment in staff assessments involving terminations by the current management. Officers with similar recruitment backgrounds were treated differently, according to the report.

Although the special assessment was arranged for employees recruited during the specified period, 17 officers were dismissed before being given an opportunity to sit for the test.

Another 243 officers did not sit for the assessment but remained employed.
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Although the bank cited overseas postings, illness and maternity leave as reasons, the inspection found that some officers who had not applied for exemption were retained, while others who had applied were dismissed.

CURRENT MANAGEMENT’S RESPONSE

Md Altaf Hossain, acting managing director of the bank, told The Daily Star that he was not aware of the central bank inspection report.

He said the officials were not dismissed based on whether their appointments were valid or invalid.

“The recruitment process followed at that time did not comply with the service rules. Therefore, they were given an opportunity to complete the formalities of their appointments by sitting for an examination.”

However, they did not take the examination, he said, adding that those officials also prevented others from participating in it.

“As a result, their appointments were cancelled because they challenged the institution’s decision. Bangladesh Bank also said that the matter was an internal issue of the institution and that the institution could take a decision in this regard.”

M Kamal Uddin Jasim, additional managing director of the bank, who was in charge of the HR department at that time, told The Daily Star that those who could not sit for the examination at that time were tested later.

Two groups are currently protesting in front of Islami Bank headquarters and Bangladesh Bank. One comprises former employees demanding reinstatement, while the other, the ‘Islami Bank Customers’ Coordination Council’, is demanding the arrest of S Alam Group Chairman Mohammed Saiful Alam, recovery of stolen assets and dissolution of the current boards of directors.

Internet prices in Bangladesh could drop by 40 to 50 percent following the introduction of private submarine cable connections, according to Aminul Hakim, president of the Internet Service Providers Association of Bangladesh (ISPAB).

He noted that internet service providers (ISPs) would be able to purchase bandwidth at roughly half of today’s rates once private submarine cable operators begin supplying the market.

He made the remarks in response to a question at a discussion titled “Affordable internet for all: barriers and solutions to tech giants’ investment in Bangladesh” held at a hotel in Dhaka yesterday. The event was organised by the Telecom and Technology Reporters Network Bangladesh (TRNB).

ISPs currently purchase bandwidth at Tk 120 to Tk 130 per Mbps, said Aminul, who is also chief executive officer of private submarine cable company Metacore Subcom Ltd.

The entry of private submarine cable operators would increase the supply of international bandwidth, create multiple sources and boost competition in the market.

As a result, bandwidth prices could fall by 40 to 50 percent, he said.

Aminul said demand for bandwidth is rising rapidly as internet usage increases in Bangladesh.

He put the country’s current bandwidth demand at around 13,500 Gbps and estimated that it could reach 50,000 to 54,000 Gbps by 2030.

Bangladesh therefore needs to increase capacity through multiple submarine cables and international connectivity while creating greater opportunities for private investment to meet future demand, he said.

Aminul said Bangladesh currently has to import a significant amount of international bandwidth from India. He added that international connectivity is closely linked to the services and infrastructure of global technology companies such as Google, Meta, Akamai and Cloudflare.

However, large technology companies and hyperscalers face significant challenges in investing in Bangladesh because of the monopoly-dependent environment of Bangladesh Submarine Cables PLC, limitations in international connectivity, uninterrupted power supply issues and the absence of favourable policies, he said.

TRNB President Masuduzzaman Robin chaired the event, while former TRNB president Samir Kumar Dey moderated it.

Mahmud Shahed, project head of private submarine cable company Metacore Subcom Ltd, and Moin Uddin Ahmed, treasurer of ISPAB, made two presentations at the event.

The presentations showed that BSCPLC has invested Tk 819.50 crore in two submarine cables -- SEA-ME-WE-4 and SEA-ME-WE-5.

The company generated more than Tk 3,000 crore in revenue between 2008 and 2026 and earned net profits of more than Tk 1,362 crore during the period, according to the presentations.

The presenters, however, said ordinary consumers and internet users were being deprived of the benefits of these investments because of the opportunity for a monopoly business.

However, Bangladesh Submarine Cables earlier said that concerns about a possible shortage of internet bandwidth in the country are unfounded.

The company has said there is currently no shortage in the supply of international bandwidth in Bangladesh and no risk of a shortage in the future. Rather, it has the capacity to supply more bandwidth than current demand.

The World Bank has agreed to support Bangladesh in dealing with external economic shocks related to oil and gas supplies and supply-chain disruptions, Finance Minister Amir Khosru Mahmud Chowdhury said today (22 September).

He said the issue was discussed during Prime Minister Tarique Rahman's meeting with World Bank Group President Ajay Banga at the UN Headquarters in New York.

Khosru briefed reporters in front of the UN Headquarters after the meeting, which lasted about half an hour.

He said the discussions focused on Bangladesh's partnership with the World Bank and how the two sides can work together under the partnership framework to support the country's development trajectory.

"External shocks are creating problems for the economy due to issues related to oil, gas and supply chains, which are beyond Bangladesh's control. We discussed what role the World Bank can play, and it has agreed to come forward with support," the minister said.

He said Bangladesh and the World Bank agreed to work together to ensure that supply-chain disruptions do not hamper the country's development trajectory.

Khosru said the meeting also discussed the government's social programmes, including the Family Card and Farmers' Card, which he said were appreciated by the World Bank.

He said the World Bank will support such programmes, and the two sides also discussed expanding initiatives aimed at creating young entrepreneurs and generating employment.

"We have already rolled out programmes for young entrepreneurs based on 50 percent grants and 50 percent concessional loans. We discussed how we can expand these programmes together with the World Bank," the minister said.

He said the government wants to take youth entrepreneurship and employment programmes to a larger scale so that entrepreneurship among young people can generate more jobs and further employment in the economy.

"The role of the young generation is extremely important in the economic trajectory we are pursuing towards a trillion-dollar economy by 2034," Khosru said.

He said the government will work with the World Bank to provide greater support for young entrepreneurs and create more employment opportunities.

The minister said the meeting also covered the World Bank's role in helping Bangladesh address economic pressures caused by external factors, particularly energy and supply-chain challenges.

"We have to maintain our development trajectory, and we need to ensure that supply-chain problems do not disrupt it. We agreed to work together on how the World Bank and Bangladesh can address these challenges," he said.

Khosru also said the government is seeing positive signs in several areas of the economy.

"We are seeing signs of improvement in the capital market. We are reforming and trying to recapitalise our banks, and there are signs of improvement there. Our exports are increasing, remittances are increasing, and our rating has moved from negative to stable," he said, adding that the signs in the economy are very positive.

The minister said Bangladesh and the World Bank will continue working together to address critical supply-chain problems while sustaining areas of positive economic growth.

Prime Minister's Finance and Planning Adviser Rashed Al Mahmud Titumir was also present at the meeting, which took place on the sidelines of the 81st session of the UN General Assembly.

Prime Minister Tarique Rahman's UN engagements began today with a welcome breakfast hosted by UN Secretary-General António Guterres for heads of delegation and their spouses, followed by the opening session and high-level General Debate of the General Assembly.

During his brief New York stay, the prime minister is scheduled to hold a series of bilateral and high-level meetings with heads of state and government and leaders of international organisations. He is scheduled to address the General Debate on September 24.

Stocks fell sharply today (21 September) as investors reacted to the government's decision to raise domestic fuel prices by Tk20 per litre, fearing higher transportation and production costs would squeeze corporate earnings and fuel inflation.

The sell-off snapped a four-session winning streak on the Dhaka Stock Exchange (DSE), with the benchmark DSEX losing 41 points, or 0.74%, to close at 5,550. The blue-chip DS30 also fell 15 points, or 0.71%, to settle at 2,105.

Market breadth turned decisively negative, with 254 issues declining against 100 advancing and 32 remaining unchanged. Despite the fall in the indices, turnover rose 6% to Tk788 crore as investors actively repositioned their portfolios amid heightened uncertainty.

The government announced the fuel price hike on Sunday night, raising the prices of diesel, kerosene, petrol and octane by Tk20 per litre. The move came as global energy prices have come under renewed pressure amid the ongoing conflict in the Middle East.

Fuel prices hiked by Tk20 per litre
Market insiders said higher fuel prices are likely to raise transportation and production costs across manufacturing sectors, while adding further pressure on consumer inflation. Concerns over their impact on household purchasing power and corporate profitability prompted investors to reduce equity exposure rather than commit fresh funds.

Although some value-seeking investors attempted to accumulate heavily corrected stocks at lower valuations, buying interest was not strong enough to offset broader selling pressure.

EBL Securities said the market recovery faltered after four consecutive sessions of gains as the latest increase in domestic fuel prices, coupled with persistent upward pressure on global fuel prices amid geopolitical tensions, heightened concerns over inflation and its potential impact on corporate earnings.

The brokerage said the session remained volatile, with persistent selling pressure across the trading floor as investors adopted a wait-and-see approach. The resulting lack of conviction kept buying interest subdued and limited the market's ability to sustain its recent recovery.

The post-dividend adjustment of heavyweight Walton Hi-Tech Industries also added to downward pressure on the indices, EBL Securities said. While most stocks underwent corrections amid broad-based caution, insurance and mutual fund stocks remained comparatively resilient as investors sought short-term profit-taking opportunities amid weakened market conviction.

Sheltech Brokerage said the market was primarily shaped by profit-taking activity and cautious sentiment following the fuel price increase. Strong selling pressure in the early session pushed the market lower before bargain hunting emerged.

The DSEX subsequently climbed to an intraday high of 5,599 points. However, the recovery lacked conviction, and renewed selling pressure later dragged the index to an intraday low of 5,550.50 points, where it eventually settled.

Walton, BRAC Bank, Beximco Pharmaceuticals, City Bank and BAT Bangladesh were among the major stocks weighing on the benchmark index.

Textile stocks dominated trading, accounting for 22.6% of total turnover, followed by general insurance at 18.9% and pharmaceuticals at 9.8%. Most sectors ended lower, with textiles falling 2%, paper 1.9% and travel 1.7%. Mutual funds gained 2.5%, while general insurance rose 1.4%.

Eastern Bank led the turnover chart, followed by Sharp Industries, Envoy Textile, IPDC Finance and Orion Infusion.

ICB AMCL 2nd Mutual Fund was the top gainer, rising 10%, followed by Crystal Insurance with a 9.96% gain, First Prime Finance Mutual Fund 9.65%, Orion Infusion 8.73% and Desh General Insurance 8.51%.

Walton became the biggest loser, plunging 11.96%, mainly due to an adjustment following its stock dividend record date. Anlima Yarn fell 6.09%, Peoples Leasing 5.26%, Samata Leather 5.11% and Nahee Aluminum 4.74%.

The bearish session also extended to the Chittagong Stock Exchange, where the CSCX fell 18 points to 9,088 and the CASPI declined 34 points to close at 14,822.

Commerce Minister Khandakar Abdul Muktadir yesterday said market monitoring would be strengthened to ensure adequate supplies of essential commodities and keep prices stable throughout the year, not just during Ramadan.

He made the remarks at a meeting at his ministry office at the Secretariat to review the supply and prices of essential commodities and the overall market situation.

“No abnormal situation will be allowed to develop in the market. If anyone takes advantage of the current situation to raise commodity prices unreasonably or attempts to make excessive profits, the government will take necessary action,” he said.

Muktadir said coordination among business organisations, importers, producers and government agencies would be strengthened to ensure normal supplies and reasonable prices.

He said gas supply disruptions had affected production in some industries, while transportation of goods had also faced obstacles. Storms and rain had also disrupted markets in several areas.

However, he expected the supply of vegetables to improve as new crops begin arriving with winter approaching.

The minister urged business organisations to monitor markets regularly, saying even price fluctuations of Tk 2 to Tk 4 could undermine public confidence.

“Maintaining public confidence is as important as ensuring market stability,” he said.

Monitoring would be intensified through coordination among the Directorate of National Consumer Rights Protection, the Ministry of Commerce, law enforcement agencies and district administrations, he said.

Regular meetings would also be held with importers to review inventories, imports and supplies.

Highlighting the impact of rising global fuel prices, Muktadir said Bangladesh was also facing the resulting economic pressure.

“If the government bears part of the burden instead of passing the entire cost on to consumers at once, the burden ultimately falls on the national exchequer. Therefore, efficient and economical use of fuel is extremely important,” he said.

The government would consider policy support to keep markets and businesses operating normally, while reviewing aspects of the existing tax structure to keep essential commodity prices affordable, he said.

It would also regularly monitor information on domestically produced goods and products for which letters of credit (LCs) have been opened or which are at the shipment stage.

At the meeting, the Bangladesh Trade and Tariff Commission presented an overview of demand, imports, supplies and prices of essential commodities. It said the import and LC-opening situation was positive compared with the previous year.

According to commission data, annual demand for lentils is around 7 lakh tonnes. From July 1 to September 15 last year, 42,000 tonnes were imported, compared with 1.06 lakh tonnes during the same period this year.

Imports of oilseeds, used as raw materials for edible oil, also rose to 3.86 lakh tonnes from 2.73 lakh tonnes during the same period last year.

Annual sugar demand is around 20 to 21 lakh tonnes, with about 3 lakh tonnes consumed during Ramadan alone. The commission said the overall import and pipeline situation for essential commodities remained positive.

Muktadir said initiatives were also being taken to introduce traceability systems to make supply chains more transparent and accountable.

The system would allow monitoring from production to consumers, with eggs and poultry being considered for priority.

He said the government’s main objectives were to ensure adequate supplies, maintain reasonable prices and strengthen consumer confidence.

“The government and the private sector will have to work together to achieve these goals. Advice from business leaders will play an important role in market management and policymaking,” he said.

At the meeting, business leaders raised issues related to the production, import, transportation, supply and prices of essential commodities and offered suggestions for maintaining market stability.

Md Ataur Rahman Khan, secretary to the commerce ministry; Nasir Uddoula, chairman of the Bangladesh Trade and Tariff Commission; and Md Zahirul Islam, director general of the Directorate of National Consumer Rights Protection, among others, were also present.

The government spent just 1.85% of its Annual Development Programme (ADP) allocation in July-August, the lowest implementation rate recorded to date, as development spending remained sluggish at the start of FY27.

The rate was down from 2.39% in the same period of FY26, according to updated data released by the Implementation Monitoring and Evaluation Division (IMED) today (21 September).

According to IMED data, Tk5,709.70 crore was spent from the ADP allocation in the first two months of the current fiscal year, compared with Tk5,714.83 crore during the same period last fiscal year.

The FY27 ADP has an overall allocation of Tk3,08,924.86 crore, including funds provided by government agencies from their own sources.

Planning Commission and IMED officials said spending is typically low at the start of the fiscal year as ministries and divisions prepare work plans, but is expected to rise gradually as implementation progresses.

Md Sayduzzaman, former chief of the Planning Commission and a public investment management expert, said the change of government had also contributed to the slowdown.

"After a new government comes to power, it naturally takes some time to set its own priorities, reorganise plans and make decisions," he said, adding that ministries also need time to invite tenders, secure approvals and complete other preparations for new projects.

To speed up implementation, Sayduzzaman called for faster decision-making, quicker project approvals and tendering, stronger monitoring and more effective ADP review meetings to resolve implementation problems.

Mustafa K Mujeri, former director general of the Bangladesh Institute of Development Studies (BIDS), said the decline in the implementation rate was certainly a matter of concern, although some slowdown at the beginning of a new government was normal.

Mujeri said the government should prioritise projects and address administrative and institutional bottlenecks to shorten the time between approval and implementation.

He further said the implementation rate could rise in the coming months once the initial obstacles were addressed.

Planning Commission and IMED officials, however, said efforts to improve ADP implementation had been stepped up, with the planning minister, state minister and senior officials meeting ministries and divisions to accelerate projects and ensure quality spending.

They said implementation bottlenecks were also being addressed promptly to prevent delays.

According to IMED data, Tk4,049 crore, or 2.13% of the Tk1,90,000 crore government-funded allocation, was spent in July-August, compared with 1.91% a year earlier.

Spending from foreign loans and grants was Tk1,338 crore, or 1.22% of the Tk1,10,000 crore allocation, sharply below the 2.91% recorded in the same period last year. Agencies spent Tk323 crore, or 3.62%, from their own funds.

Of the 57 ministries and divisions covered by IMED, 17 spent less than 1% of their allocations, while five spent nothing at all.

The Bridges Division and the Ministry of Civil Aviation and Tourism were among those with zero spending despite having relatively large allocations.

Among the ministries and divisions that spent less than 1% were the Ministry of Shipping, Posts and Telecommunications Division, Rural Development and Co-operatives Division, Ministry of Commerce, Ministry of Railways, and Ministry of Environment, Forest and Climate Change.

The government has formed five specialised working groups to implement the National Logistics Policy 2025 and strengthen Bangladesh’s capacity for domestic and international trade.

The working groups are focused on logistics digitalisation, investment, skills development, multimodal logistics infrastructure and trade facilitation, according to notifications issued by the Prime Minister's Office by the end of last week.

The panels have been formed in line with the decisions of the National Logistics Development and Coordination Committee (NLDCC).

The interim government framed National Logistics Policy 2025, aiming to position Bangladesh as a leading regional trade and logistics hub by 2050, by annulling the previous one formulated in April 2024 by the ousted Awami League-led government.

Of the groups, the trade facilitation working group will be headed by the commerce secretary.

It is mandated to formulate time-bound action plans to reduce time, operational costs and procedures in import-export, customs clearance, cargo release, and port and border management under the policy.

The group will also review progress under the World Trade Organization Trade Facilitation Agreement (WTO-TFA) and propose frameworks for pre-arrival processing, electronic declarations, automated clearance, risk management, green channels, Authorised Economic Operators and post-clearance audits, according to the notification.

Headed by the secretary of the Information and Communication Technology (ICT) Division, the logistics digitalisation working group will prepare a roadmap for real-time tracking and tracing of goods, containers and vehicles from source to destination, integrating digital systems across customs, ports, transport, warehousing, tax and banking, and defining verification metrics for a National Logistics Dashboard.

The investment working group, led by an executive member of Invest Bangladesh, will identify foreign and local investment potential in the sector and identify impediments.

The logistics infrastructure working group will formulate short-, medium- and long-term action plans for physical infrastructure development.

The panel, led by the member for physical infrastructure at the Planning Commission, will also identify bottlenecks across transport modes, ports, inland container depots, container freight stations and logistics hubs.

It will also evaluate and prioritise Public-Private Partnership projects in the logistics sector.

The skills development working group has been tasked with identifying skill gaps and assessing human resource requirements across the logistics sector.

Bangladesh Bank has allowed Offshore Banking Units (OBUs) to buy and sell foreign currencies directly and conduct cross-currency swap transactions, giving them greater flexibility to raise cheaper foreign-currency funds and manage exchange-rate risks.

The move is expected to help OBUs optimise their funding costs and offer financing at more competitive rates, particularly for permissible trade and business activities.

In a circular issued today (21 September), the central bank said the new arrangement aims to facilitate legitimate customer transactions, improve foreign currency liquidity management, and strengthen the asset-liability management practices of OBUs.

Under the new rules, OBUs can carry out outright foreign currency purchase and sale transactions, as well as cross-currency swaps, with their respective Domestic Banking Units, other authorised dealers, other OBUs, and other legitimate counterparties.

BB said the facility will allow OBUs to access suitable foreign currency funding sources, optimise their funding structures, and manage currency exposures more efficiently.

However, such transactions must be directly linked to permissible customer transactions, funding requirements, settlement obligations, foreign currency liquidity management, asset-liability management, or foreign exchange risk management, the circular said.

The central bank has also advised OBUs to adopt prudent foreign currency funding strategies, including tapping lower-cost currency funding opportunities where feasible, and to use appropriate foreign exchange transactions or cross-currency swaps to hedge or manage related currency risks.

The decision brings OBU operations closer to internationally accepted treasury practices, giving offshore banking units greater flexibility in managing foreign currency liquidity and funding costs. It could also help lower the cost of financing for eligible trade-related activities by allowing OBUs to source foreign currency more efficiently.

Apparel exporters will now be able to import specialised fabrics and materials used to produce niche products such as seamless sportswear, underwear and functional garments more easily, as the government has relaxed several provisions of the country’s import policy.

The commerce ministry amended the Import Policy Order 2026-2029 through a notification issued on Sunday, with the changes taking immediate effect.

Under the amended provisions, specialised fabrics and materials required for producing certain types of garments can be imported on the recommendation of either the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) or the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

The move is expected to ease sourcing of inputs for manufacturers producing specialised apparel, which often require fabrics and materials that are not commonly used in mainstream garment production.

The latest amendment also removes some procedural requirements that had created additional complications for exporters, according to Mohammad Hatem, president of BKMEA.

Speaking to The Daily Star, Hatem said the changes were largely aimed at correcting inconsistencies and unnecessary restrictions in the Import Policy Order 2026-2029.

One of the major changes concerns the import of fabrics and yarn.

Under the previous provision, importers in certain cases were required to obtain approval from the Ministry of Commerce to import knit fabrics and yarn.

“That requirement did not make much sense when imports were already being made under the utilisation declaration (UD) system and within the framework of the import policy,” Hatem said.

He said the requirement could have forced businesses to approach the ministry for approval for individual letters of credit, adding another layer of paperwork to the import process.

The amended policy has removed the requirement, he said.

The government has also scrapped a provision concerning the import of spare parts for industrial machinery.

Previously, the value of spare parts that could be imported was capped at 2 percent of the value of machinery in the first year and 5 percent in subsequent years.

Hatem said the amendment also addressed several other inconsistencies, including contradictory and unclear wording in the previous policy.

“These corrections will make import procedures easier for businesses and reduce disruptions caused by inconsistencies in the policy,” he said.

The notification, however, does not provide any specific duty concession or quantitative limit for the import of the specialised fabrics and materials. Rather, it sets out the conditions under which such inputs can be imported.

The Bangladesh Fertilizer Association (BFA) has demanded that the sales commission per sack of fertiliser be doubled from Tk 100 to Tk 200 and that the recruitment of new fertiliser dealers be put on hold.

Md Mosharraf Hossain, chairman of the association, made the demands at a press conference held at its office in Dhaka yesterday.

He said dealers have been pressing for a higher commission for 18 years without result. Over that period, fuel prices, transport costs and the prices of essentials have risen repeatedly, sharply increasing dealers’ operating costs.

In 2008, the combined transport cost and sales commission was Tk 100 per sack. After transport and other expenses, dealers were left with a net commission of roughly Tk 25 to Tk 30 per sack.

Under the same arrangement now, Mosharraf claimed, dealers lose around Tk 50 to Tk 55 on every sack.

He acknowledged that the government has raised the commission by Tk 50 per sack, but noted that the increase will not take effect until July 1, 2027.

Even then, it would only bring dealers to a “no profit, no loss” position.

To ensure their survival, he said, the commission must be raised by a further Tk 100 to Tk 200 per sack.

Mosharraf warned that without an increase, dealers may gradually lose interest in the trade, which could disrupt the supply of fertiliser to farmers.

He urged the government to give long-established dealers a chance to stay in business.

The association also objected to the Integrated Policy on Fertiliser Dealer Appointment and Distribution-2026, alleging that several of its provisions are inconsistent, unconstitutional and self-contradictory. It filed a writ petition on the issue on September 2.

According to the BFA, the High Court has since issued a 60-day rule for the issues to be settled legally. The association alleged, however, that district fertiliser and seed monitoring committees are still appointing new dealers in various districts despite the court’s rule.

The BFA added that the agriculture ministry has yet to take any initiative to discuss the disputed provisions with it.

Mosharraf cautioned that the authorities concerned would be held responsible for any untoward incident arising from the situation.

For millions of Bangladeshis already struggling with high cost of living, a Tk20-a-litre increase in fuel prices means another blow to household budgets.

The impact is being felt far beyond filling stations, triggering higher bus fares for commuters, larger fuel bills for motorcyclists, rising irrigation costs for farmers, and heavier logistics bills for factories already struggling with acute energy shortages.

The adjustment marks the second fuel price hike since the BNP-led administration took office eight months ago. It comes at a precarious time: national inflation remains well above 8%, while wage growth has lagged behind living costs for more than four years.

The fallout was immediate.

Public transport operators across Dhaka adjusted fares upwards on several key routes, intercity bus operators raised ticket prices, and freight transporters announced impending rate increases.

For professional ride-sharing motorcyclists, the increase presents a difficult dilemma: absorb the added operating expense and take a direct pay cut, or pass it on to passengers and risk losing trade.

Fuel price hike to intensify inflation, squeeze households: Fahmida Khatun
"The earnings from riding throughout the day barely cover food and clothing for my five-member family. Now that fuel prices have increased, I don't know how I will manage my household," said Jasim Uddin, a ride-sharing motorcycle driver in Chattogram.

For those like him, there is little room to absorb another rise in operating costs.

Al Amin, who drives for Pathao in Dhaka, said his daily fuel bill would rise by Tk100-150, adding Tk3,000-4,000 to his monthly fuel expenses.

The problem extends beyond professional drivers.

The burden also extends to daily commuters who rely on two-wheelers for work, school runs, and errands.

"I need my bike every day to take my children to and from school and for necessary tasks. The way fuel prices are increasing, it will put a lot of pressure on my monthly budget," said motorcycle user Jahangir Alam.

A cost that travels through the economy

Fahmida Khatun, distinguished fellow at the Centre for Policy Dialogue (CPD), said the impact would cascade across households, agriculture, industry, and transport.

"Individuals face higher direct travel expenses, but even households that do not purchase fuel directly will be affected as logistics costs push up the price of food and basic necessities," she said, noting that low- and middle-income families would suffer disproportionately.

That transmission mechanism is already visible. In Dhaka, commuters reported Tk5 to Tk10 fare increases on various local routes. Fares for Laguna human-hauliers running from Chittagong Road to Jatrabari rose from Tk20 to Tk25, while long-distance bus fares from Sayedabad to southern districts jumped by up to Tk50. Some Chattogram-bound services increased fares by Tk100.

Freight networks are feeling similar pressure. A truck operator in Rajshahi noted that hauling produce from Bogura to Chattogram would now cost an additional Tk3,000 to Tk4,000 per trip, an added expense that will inevitably reach retail vegetable markets.

"The additional fare will certainly be passed on by businesses to vegetable prices. As a result, consumers will have to pay more," said truck driver Mohammad Shamim Hossain.

At Benapole, the nation's largest land port, truck freight rates to Dhaka surged from Tk22,000-Tk23,000 to as much as Tk30,000. Cargo runs to Chattogram rose to between Tk35,000 and Tk40,000 per shipment.

Businesses fear those additional costs will eventually reach consumers.

Fears of rising essential costs

While retail prices for basic groceries, poultry, and fresh produce remained broadly stable on Sunday, shopkeepers warn that higher transport costs will feed into shelf prices as new wholesale stock arrives.

Miraj Ahmed, a grocery shopkeeper at New Market, said prices had not changed yet due to the fuel price hike.

"Prices of our products have not changed so far because of the fuel price increase. However, if the cost of transporting goods rises, prices of some products may go up in the coming days," he said.

With key staples like chillies, eggplant, broiler chicken, and fish already trading at elevated levels, consumers fear further freight-driven price increases will make daily nutrition increasingly unaffordable.

Hafiz Uddin, a private-sector employee shopping at Hatirpool, said consumers were now waiting to see whether the fuel price hike would affect the markets. "If transportation costs increase, vegetable prices will certainly go up," he said.

Farmers face higher costs

Agriculture is another major pressure point because diesel remains central to irrigation and mechanisation.

Around 70% of the country's irrigation pumps run on diesel. A study by researchers from Bangladesh Agricultural University and the Bangladesh Rice Research Institute found that irrigation accounts for around 20-25% of total production costs for Boro rice.

That means the fuel increase comes directly at farmers' production costs.

Fuel price hike to push up transport and production costs, worsen inflationary pressure: Selim Raihan
"Diesel-dependent agriculture will face higher irrigation, mechanisation and transportation costs. This could potentially raise food prices, but reduce farmers' returns," Fahmida Khatun said.

For farmers already facing weak prices for some crops, the prospect is particularly worrying.

A farmer in Naogaon, Ahsan Habib, said mechanised irrigation had become essential for cultivation, while fuel prices continued to rise.

He said rice prices had fallen and there were few buyers for potatoes, leaving farmers squeezed between rising production costs and weak selling prices.

The dilemma is straightforward: farmers cannot easily pass all their higher costs on to buyers, particularly when market prices are weak. Their margins can therefore shrink even as consumers eventually face higher food prices through transportation and other costs.

Businesses squeezed from both sides

For manufacturers, exporters and small businesses, the fuel increase adds another layer of costs at a time when many are already struggling with expensive inputs, inadequate gas and electricity supplies and weak demand.

Mosharraf Hossain, Managing Director of Mosharraf Group, which has spinning and dyeing mills, told TBS, "Due to the latest increase in fuel prices, additional expenses will rise by nearly Tk40 lakh per month."

Currently, on average, his spinning mill requires over Tk60 lakh worth of diesel per month due to the gas crisis. And dyeing requires Tk75 lakh to Tk80 lakh. Because of the recent price hike, his monthly diesel expenses will increase by about Tk30 lakh.

Mosharraf said expenses had already risen due to using diesel amid the gas shortage. This new increase will further escalate costs, which will overall raise production expenses. "However, we cannot pass this extra cost on to buyers because demand is not increasing," he said.

He added that while gas pressure has slightly increased compared to before, it is still not sufficient to run the factories at full capacity. "Against my requirement of 15 PSI, we are currently receiving only 2.5 PSI. As a result, I am forced to use diesel," he said.

Fuel prices hiked by Tk20 per litre
Anwar-ul Alam Chowdhury Parvez, president of the Bangladesh Chamber of Industries, said businesses were already operating under severe pressure.

"At such a time, increasing fuel prices by more than 15% without consulting anyone will create additional pressure across all sectors," he said.

He warned that higher fuel prices would increase production and transportation costs and could force some businesses to scale back operations.

Shams Mahmud, managing director of Shasha Denims, said manufacturing, logistics, agriculture, services and fast-moving consumer goods were already under stress.

For export-oriented businesses, he said, the increase would add to the cost of doing business at a time when competitiveness was already under pressure.

The effect can be particularly sharp for businesses that depend on generators or climate-controlled facilities.

At Benapole, frozen shrimp exporter Shyamol Das said higher fuel and transport costs would increase the expense of maintaining cold-chain facilities and moving goods to Chattogram.

"For export-oriented industries, which are already in a vulnerable state with decreasing competitiveness, it will add to the already increasing cost of doing business," Mahmud said.

Dr Fahmida of CPD also believes Bangladesh's export competitiveness may erode because of the latest fuel price hike.

Was there any way out?

Fahmida noted that while the government has limited alternatives to raising prices due to its severely constrained fiscal space, it could still consider two key options: temporarily reducing high import taxes on fuel oils and managing demand more efficiently.

She explained that although high taxes on petroleum products generate crucial government revenue, temporarily lowering them could have cushioned the impact of the recent price hike and eased economic pressure on transport, agriculture, and essential goods.

"Of course, lower taxes would reduce revenue and require alternative financing. The government should therefore publish the Bangladesh Petroleum Corporation's (BPC) import costs, operating expenses, tax payments, and losses," she said.

"When global oil prices surge unexpectedly, taxes could be adjusted temporarily and reviewed once conditions stabilise – balancing consumer relief with fiscal requirements in a measured manner."

She also urged the government to curb fuel pilferage and prioritise distribution to sector-critical needs.

Private inland container depots (ICDs) in Chattogram have raised several container handling and transportation charges by 9.85% following the government's latest increase in diesel prices.

The Bangladesh Inland Container Depots Association (BICDA) announced the revised rates in a circular issued today (21 September), with the new charges taking effect from today. The circular was signed by BICDA Secretary General Ruhul Amin Sikder.

The government raised the price of diesel by 17.4%, from Tk115 to Tk135 per litre, effective the same day.

BICDA said the surcharge was introduced to account for higher operating costs for fuel-dependent activities at private ICDs.

The 9.85% surcharge will be added to the previously reviewed rates for several services, including transporting empty containers between Chattogram Port and private ICDs, and between Patenga Container Terminal (PCT) and ICDs.

It will also apply to empty container lift-on and lift-off charges.

The surcharge will apply to the export goods stuffing and handling package.

The package covers lifting empty containers at the empty yard, transporting them to the container freight station shed, stuffing export goods, transporting loaded containers to the load yard and subsequently moving them to Chattogram Port or PCT.

Charges for weighing export-loaded containers, known as Verified Gross Mass (VGM), will also increase by 9.85%.

The VGM package includes lifting a loaded container at the load yard, transporting it to the weighing scale, weighing it, returning it to the load yard and lifting it off there.

The increase will also apply to import goods delivery package charges.

The package includes transporting import-loaded containers from Chattogram Port or PCT to private ICDs, lifting them off, placing them at import delivery yards and unloading goods from the containers onto trucks using labourers.

BICDA instructed individual ICDs to notify their clients about the 9.85% increase in the previously reviewed rates.

Private ICDs handle export and import cargo linked to Chattogram Port and play a key role in the country's trade and logistics chain.

The oil shock caused by the Iran war is re-charging the electric vehicle (EV) market as high gasoline and diesel prices stimulate consumer demand for alternatives.

Economics is becoming as powerful a driver of EV sales as government subsidies and green ideology, particularly in countries most exposed to the loss of oil and gas supply from the Gulf.

This has huge implications for both the oil and metal markets, particularly for critical EV inputs such as lithium, nickel and copper.

Metal bulls lost interest in the EV story a couple of years ago after reality failed to live up to the early hype.

Grid storage and data centers are now the hot talking-points for lithium and copper markets respectively.

But wars in both the Middle East and Ukraine are acting as powerful accelerators of the green transport revolution.

At a headline level, nothing very much appears to be happening in the EV sector.

Global sales of new energy vehicles grew by just 4 percent year-on-year from January to August, according to consultancy Benchmark Mineral Intelligence (BMI).

That pedestrian growth rate, however, masks wildly differing regional markets.

US President Donald Trump’s elimination of his predecessor’s subsidy scheme has sent the country’s EV sector into steep decline.

Sales in August were down 33 percent year-on-year, bringing the year-to-date contraction to 21 percent.

US auto manufacturers have pivoted back to conventional engines, cancelling planned investment in new electric models and battery supply chains.

China is another weak spot.

The world’s largest EV market saw sales shrink by 12 percent year-on-year in the January-August period.

But this should be seen in the context of a broader downturn in the domestic vehicle market, which registered a 24 percent year-on-year drop in total passenger vehicle sales in August.

The EV segment of the market has fared relatively well, and the new energy vehicle penetration rate hit a new high of 65 percent last month. Not that China’s auto companies are too concerned anyway.

They are exporting record amounts of EVs to the rest of the world.

European sales jumped by 36 percent year-on-year in August, with year-to-date growth running at 29 percent as high pump prices combine with government subsidy schemes. But the most spectacular growth is outside the big three markets.

EV sales in the rest of the world have doubled so far this year, according to BMI.

On a total cost-of-ownership basis, battery EVs have already reached price parity with traditional internal combustion engine vehicles in China, according to analysts at consultancy Wood Mackenzie.

The flood of low-priced Chinese exports at a time of high gasoline prices is rapidly closing the gap in other Asian markets.

But, equally critically, consumer perceptions are changing.

For many, buying an EV is no longer a commitment to the green cause but rather an economic choice.

Wood Mackenzie has modeled what it calls an “electric shock” scenario, in which high oil prices both accelerate consumer adoption of battery-powered vehicles and stimulate governments to prioritise reducing fossil-fuel reliance.

With battery performance continuously improving and EV costs falling, a structural shift in the passenger vehicle market could arrive much faster than expected.

The longer the Iran war grinds on and the longer Ukraine targets Russian oil refineries, the more likely that scenario becomes.

If the EV sector is shifting out of the slow lane, it will mean more pressure on already stressed metal supply chains.

Wood Mackenzie assesses that there will be enough metal to meet even accelerated EV demand but — and it’s a big “but” — only if investment in new production capacity is scaled up at the same rate.

Under the company’s shock scenario, copper demand would only grow by an incremental 2 percent relative to a base-case scenario that assumes global EV sales keep growing at a modest 4 percent annual pace.

But that means additional new mine capacity would have to rise from the long-term average of 850,000 metric tons per year to 960,000 tons between 2025 and 2040.

Lithium demand would grow by an extra 14 percent with availability complicated by China’s dominant control of the global supply chain.

Over the last decade, EV metal markets have struggled to match supply with demand, generating a sequence of price booms and busts.

It’s quite possible they’re going to get wrong-footed again as EV sales accelerate just about everywhere outside the US.

The irony is that while the Trump administration has stalled the US transition to vehicle electrification, it has inadvertently persuaded much of the rest of the world that it is time to go green.

Bangladesh Bank has allowed offshore banking units of commercial banks to buy and sell foreign currency and conduct cross-currency swaps, widening their access to dollars for domestic banking operations.

The central bank announced the move in a notification on Monday, saying the new facility was intended to make foreign-currency fund management “more efficient and cost-effective”.

“Offshore banking units have been allowed to directly buy and sell foreign currency and conduct cross-currency swap transactions,” the circular said.

Bangladesh Bank expects the decision to increase access to foreign-currency financing for trade and business at more competitive costs.

The facility has also been introduced to bring the country’s offshore banking operations more closely in line with internationally recognised treasury practices.

Under the new arrangement, offshore banking units will be able to buy and sell foreign currencies and enter into cross-currency swaps with their own banks’ domestic banking operations and with other authorised dealers.

The central bank believes this will enable offshore units to mobilise more foreign currency than before to meet domestic demand. Greater investment opportunities are also expected to make the units more active.

A senior official of the relevant department at Bangladesh Bank told bdnews24.com that offshore banking units would now be able to supply dollars to the domestic banking system whenever needed.

“This creates scope for banks to access more dollars, which should increase the supply of foreign currency across the banking sector,” added the official, who declined to be named.

“As dollar availability increases, competition among banks to sell dollars should also rise. That, in turn, could allow businesses to obtain dollars at a lower cost.”