The 18th BRICS Leaders' Summit opened in New Delhi on 12–13 September 2026, drawing China's Xi Jinping, Russia's Vladimir Putin, Iran's Masoud Pezeshkian and UN Secretary-General António Guterres. Bangladesh, however, stayed away, citing the wording of the invitation and a trust deficit deepened by Sheikh Hasina's 5 August appearance in the Indian capital, and declined to send any official representative. The empty chair has reignited debate over where Dhaka–Delhi ties now stand. The Business Standard has talked to prominent geopolitics and security experts to weigh what the absence means for Bangladesh, its room for maneuver, and its fraught relationship with New Delhi

'They saw it through a plurilateral prism when we saw a bilateral slight'

M Humayun Kabir, former ambassador

BRICS is a plurilateral organisation. It is where a country such as Bangladesh has, in effect, been invited under a degree of pressure that this term comes into use — plurilateral. And my sense is that it is precisely in this bilateral-cum-plurilateral space that some of our difficulty lies. Take the fact that India invited our head of government as the chair of BIMSTEC.

The BIMSTEC chair, after all, may at any given time be Bangladesh, as it may be under SAARC. So our head of government was invited in that capacity, under the BIMSTEC-chair designation. From their side, technically, that is how they regarded our Prime Minister within the context of that conference or summit.

From our side, we took the view that they had invited the BIMSTEC chair, i.e. the office-holder, and not our Prime Minister as such. That is how we framed it where our Prime Minister was concerned. And it is because the framing on the two sides was somewhat different that, to my mind, this confusion arose and it is out of that confusion that things ended up as they did.

Now, had we gone, what might have come of it? There is something new taking shape there, though the final outcome I have not yet seen. What they are seeking is to deepen cooperation and, in that connection, to bring about a degree of digital-currency alignment, while increasing the use of each country's own currency.

In other words, if you do business in India, you may do it in the Indian currency; in China, in the Chinese currency. So they are attempting to build an alternative economic, or financial, structure. For a country like ours—one that works with everyone and carries a certain exposure, with trade and commerce running to all 11 of these member states—this matters.

In that situation, were we able to plug into this financial network, or something of the kind, our leverage would rise somewhat. I would then no longer have to worry that, having taken a nuclear power plant from Russia, we might be hit with American sanctions, because if my trade with Russia is conducted in taka or in roubles, sanctions imposed through the dollar lose much of their bite.

Then there is the point that was made about resolving matters through dialogue and diplomacy. For Bangladesh this holds especially true, because as a relatively small country, we always carry this kind of security concern.

In that light, if a general principle takes hold that everyone wishes to settle disputes through dialogue and diplomacy, and accepts as much, then there is an advantage in it for us.

And the third point is that the heads of state and government of 11 countries were present there. Our presence, therefore, could have created the opportunity to interact, and to share our thoughts and priorities, and so on. That carries a diplomatic value of its own. But since we were not there, we did not get that opportunity.

So, in that respect, attending would have been the better course. Even so, we tried to send a message: that we now have a spine — that we will not simply go wherever, and however, you wish. The requisite level of dignity and honour must be extended to us; only then do we wish to engage. That is the message that went out from our side.

Yes, in terms of the message, 'we are strong', we did genuinely demonstrate that Bangladesh is no longer the docile, compliant Bangladesh of old. That message has been delivered. The question now is how much we gained in material terms, and that remains to be seen.

And it seems to me that the Indians viewed the matter through a multilateral, or plurilateral, prism, whereas we viewed it from a bilateral angle. That mismatch bred the confusion.

M Humayun Kabir is a former ambassador and President and CEO of the Bangladesh Enterprise Institute (BEI).

'Not going now is temporary, joining BRICS ought to be our top priority'

Maj General (Rtd) Fazle Elahi Akbar, security expert

For Bangladesh, increasing cooperation and dialogue with the BRICS countries is very important, because for all these years our focus has been India-centric — we sat within a South Asia-centric frame. We were never especially serious about multilateralism; even with the OIC our engagement was minimal. Our day-to-day affairs — the economy, diplomacy, even national security, trade and transit — everything was South Asia-centric.

Because we remained South Asia-centric and India-centric for so long, India came to take us almost entirely for granted; and it reached the point where we were gradually losing our sovereign autonomy. From that perspective, we needed to break out of it. We are trying to do so now — but merely breaking out is not enough unless we open other windows. BRICS and the Shanghai Cooperation Organisation are exactly the windows we ought to jump into; and, if required, the OIC platform is very much a format to work through as well.

The more windows we have, the less the pressure from any one bloc or any one country. This, in fact, is how smaller countries survive — they keep their options open and stay in charge of their own course. They do not allow themselves to be sucked into a single black hole; and we were in that black hole for the last 16 years, under the previous fascist regime. So joining BRICS is now vitally important.

As to why we did not go to Delhi — why the invitation was not accepted — I think our state minister for foreign affairs has explained it amply. He was invited as the chair of BIMSTEC, not as Prime Minister, of course; and they also attached certain conditions. Those conditions we know: the return of the fascist leader who is in exile there, having been legally convicted, and likewise the killers of Hadi, who have also been in hiding. This has, in truth, been the pattern for a very long time — anyone wanted in Bangladesh takes shelter there. We have an extradition treaty, and even that has not been reciprocated, whereas in the past, even under the fascist regime, we complied on more than one occasion, several times over, to return their wanted persons into their custody.

Not going now is a temporary matter. But diplomatically, and for Bangladesh's foreign policy, joining BRICS and the SCO ought to be our top priority. We know that even in Hasina's day — in the time of fascism — the government of Bangladesh had applied; and despite our good relations with our neighbour, it was India that vetoed our entry. So we must now make the endeavour once again — to join BRICS, and the SCO as well. If not directly, then we must first become an observer and then, step by step, move into full membership, because this opens avenues to a new economic bloc and new opportunities for trade, for exchange, for technology, for everything.

Both these organisations are, in effect, Russia- and China-dominated; and in a changed, globalised world, this is what we should be looking towards — rather than remaining wholly India-centric, or centred on any single power.

Maj Gen (retd) Fazle Elahi Akbar is Chairman of the Foundation for Strategic and Development Studies (FSDS).

'BRICS is a separate matter, Bangladesh should have gone'

Dr Dilara Choudhury, academic

BRICS is a multilateral organisation. It has many members — around 11 countries, I believe — and these countries cooperate on trade, investment and economic matters. There is no security-pact dimension to it at all.

So the strain over Hasina — set that aside; that is a bilateral problem with India. What is the reason for staying away on India's account? This is not a bilateral issue; it is not a quarrel with India. Declining a bilateral visit to India because of the ongoing tension is one thing — but BRICS is an entirely separate matter. BRICS is a multilateral organisation, and I believe Bangladesh ought to have attended.

For Bangladesh, joining all these multilateral organisations is vital, because the country's economic development depends on trade and investment, and multilateral forums are precisely where that is advanced. So why did we not go? I see no justification for staying away simply because of the strain with India.

In the world now taking shape — as the American-led order gradually declines — bodies of this kind are especially important for the Global South, for what we call the Global Development Initiative. We will need cooperation with these countries on a range of economic issues, so we ought to join the Shanghai Cooperation Organisation.

Why? Because Bangladesh has been making this mistake from the very start. We never joined ASEAN — and we certainly should have, from the beginning. Now we cannot get into ASEAN at all. Our foreign policy was so India-centric that we simply assumed India was our friend, that India would solve all our problems, that staying close to India would deliver us enormous development. That India-centric mindset led us into many mistakes in the past. Now an opportunity has come — so why on earth would we let it slip?

Dr Dilara Choudhury served as a Professor and Chair of the Department of Government and Politics at Jahangirnagar University.

'It is just as well the PM did not go, but the road must stay open'

Parvez Karim Abbasi, academic

There is no point pretending, or telling ourselves, that everything in the Bangladesh-India relationship is sweet and harmonious. From day one after this new elected government took office, there have been push-ins across the West Bengal border, and that many Awami League leaders now in India, convicted absconders before our own courts, have been running all manner of propaganda. Most recently, around 5 August, there were Sheikh Hasina's remarks and the publicity given to them at the Foreign Correspondents' Club. Naturally, then, there is a trust deficit between the two governments. There is the issue of border killings, and a lingering question over the renewal of the water treaty.

So the question is whether the Prime Minister ought to have gone. The event has already taken place, so we can discuss it academically. My personal view is that, for a multilateral event convened at very short notice, and with so many outstanding problems, it is just as well that he did not go. It is not as though Bangladesh is saying we have broken off all contact with India. In future, once adequate diplomatic preparation and homework have been done, a visit between the two heads of government can certainly take place; that road must be kept open, because India is our neighbour and the two countries are, in many respects, interdependent.

But one question does remain. It is perfectly fine for the Prime Minister not to go — yet many countries sent their foreign ministers. Our own foreign minister is a seasoned diplomat; had he gone, there would have been a great deal of engagement to be had. Where else would you find so large a forum? BRICS has a concentrated focus on the Global South. In such a setting we might have met President Xi Jinping, or Vladimir Putin. Russia, after all, is our second-largest lender, for the Rooppur nuclear plant. There is Saudi Arabia, home to many Bangladeshi expatriates; Anwar Ibrahim, the Prime Minister of Malaysia; the UAE crown prince and others. There were opportunities for a great many side meetings.

And since we hold the BIMSTEC chair, the responsibility to raise our standing in global forums falls on Bangladesh. Many are asking what Bangladesh gained by not going. One gain could be the signal it sends to India: that, since we now speak of "Bangladesh First," when we do engage, our self-respect must remain intact, and we should go only in a conducive, enabling and friendly environment, with the groundwork for our outstanding issues laid down in advance.

On the other hand, we are living through an unstable period. The United States — the sole superpower — is gradually facing challenges on many fronts: economically, in trade, in investment, in technology, even in military capability. No one is entirely certain which way the global trend will turn; for the next 10 to 20 years there will be a transition, a period of global instability. At such a time Bangladesh ought to hedge and pursue multiple engagements.

We talk of bilateral free-trade agreements and of entering regional ones, yet ASEAN has closed its door to us. LDC graduation will come in another two years, and we will then lose the duty-free, quota-free access we now enjoy. We must secure our energy supplies, move towards renewables — for which rare earths are needed — and seek out new export markets. At this summit, at least the groundwork for all this could have begun. So I support the Prime Minister not going: there has not yet been adequate time, there is a trust deficit, and there is unease among the public. But we could still have sent the foreign minister, or a capable state minister.

Parvez Karim Abbasi is an Assistant Professor of Economics at East West University, Dhaka, and Executive Director of the Centre for Governance Studies (CGS).

'Little to gain, little to lose'

Md Tanvir Habib, academic

Bangladesh is not a current member of BRICS; it has been clear for some time that India is unwilling to admit other regional nations as equal members, because that would cut against its idea of control over South Asia.

Given that Bangladesh is not a prospective member, the visit would not have gained the Prime Minister, or the country, a great deal to begin with — beyond showing his face and mingling with a number of global leaders. So I do not think the decision carries major implications for Bangladesh. In bilateral terms, the Prime Minister has already made his maiden visits to Malaysia and to China; on the China front the relationship is strong, and he enjoys a good working relationship with the United States and others. Diplomacy is multi-pronged and multi-tiered, and that too will have factored into his calculation of whether joining, or not joining, BRICS carries any real consequence. Had some BRICS members been keen to see Bangladesh join, that might have made a difference — but Bangladesh already has good relations, on its own account, with the likes of Iran and Saudi Arabia.

BRICS has become interesting of late, in that it wants — with Russian assistance — to build a de-dollarised system. So the Prime Minister's staying away is, in a sense, a signal: that Bangladesh is not, at this moment, eager to enter arrangements that are geopolitically contentious. It is the same caution we saw over the Mecca Pact discussions earlier; Bangladesh is following a similarly careful path.

Certainly, attending the summit would have given him the chance to speak to the Indian political leadership and to other global leaders, and it is the bilateral meetings on the sidelines of such events that tend to be the real avenues for a diplomatic breakthrough. With the Indians, it might well have produced one. But before any breakthrough, Bangladesh had to convey its own requirements to India — and those requirements not being met was, I think, a key reason the Prime Minister chose not to go in the first place.

As for the other countries, I do not foresee any significant degradation. We have very good bilateral relations right across the group. With Russia, ties are not at any low ebb — they remain structured and continue in a routine manner. With China, the relationship is moving to a much higher plane, in bilateral trust and in trade, with Xi Jinping speaking of a more cultural, more civilisational approach. With the United States we have a historically good relationship, and with Europe a strong working one. The government has recently signed trade and framework agreements with South Korea, Japan and Australia, and work with the European Union is ongoing. So with every actor, inside BRICS and beyond it, Bangladesh has robust bilateral relations; the summit will not significantly affect them.

And I think every one of these countries would understand why the Prime Minister did not go — because he cannot visit unless something is forthcoming for him. His diplomatic success required a measure of compromise from the Indians, and the absence of that is the major reason he stayed away.

Md Tanvir Habib is an Assistant Professor at the Department of International Relations at the University of Dhaka.

The Insurance Development and Regulatory Authority (IDRA) will facilitate the disbursement of Tk23.03 crore in long-pending insurance claims to 5,868 policyholders tomorrow (14 September) under the second phase of its special claim settlement programme.

According to the regulator, the claims totalling Tk23,03,56,971 pertain to policyholders of five life insurance companies.

IDRA is arranging funds from various sources, including assets and security bonds of the concerned insurers, to settle legitimate claims that have remained unpaid for an extended period.

Under the second phase, Padma Islami Life Insurance Company will pay around Tk12 crore to 3,600 policyholders.

Homeland Life Insurance Company will settle Tk4.98 crore for 1,145 policyholders, while Fareast Islami Life Insurance Company will pay Tk5 crore to 580 policyholders.

Sunflower Life Insurance Company will pay Tk55.30 lakh to 300 policyholders, and Sunlife Insurance Company will settle Tk50.18 lakh for 243 policyholders.

The latest initiative is part of IDRA's broader effort to address the longstanding claim settlement crisis in the insurance sector, where thousands of policyholders have been waiting for years to receive legitimate dues.

According to IDRA data, insurers had received claims worth Tk10,611 crore across the life and non-life segments by March 2026. Of this, Tk7,779 crore, or 73.31%, remained unsettled. The situation is particularly severe in the non-life segment, where 88.7% of claims remained unpaid.

In the life insurance sector alone, claims worth Tk6,812.67 crore were outstanding as of March 2026, with Tk4,410.12 crore, or 64.73%, remaining unsettled, according to data cited by IDRA.

Against this backdrop, IDRA has prioritised the settlement of long-pending legitimate claims, particularly those involving financially distressed insurers. The regulator has been working with several troubled life insurance companies to arrange funds by liquidating assets and using other available financial resources. IDRA Chairman Mir Nadia Nivin earlier said clearing nearly Tk7,000 crore in outstanding claims is among the authority's top priorities.

The second phase follows the first round of payments made on 3 September, when IDRA facilitated the settlement of Tk14,51,03,146.58 in claims for 2,549 policyholders of seven life insurance companies.

Including the latest phase, IDRA's special initiative will have facilitated the settlement of about Tk37.55 crore in claims for 8,417 policyholders.

The first phase covered Baira Life Insurance, Fareast Islami Life Insurance, Golden Life Insurance, Homeland Life Insurance, Padma Islami Life Insurance, Progressive Life Insurance and Sunflower Life Insurance.

IDRA said the initiative is aimed at expediting the settlement of valid long pending claims and restoring policyholders' confidence in the insurance industry.

The authority has indicated that the claim settlement drive will continue in phases, with the remaining legitimate claims to be considered after verification and scrutiny.

The initiative comes at a time when the insurance industry is facing a serious confidence problem stemming from delayed claim payments, financial weaknesses among some insurers and regulatory concerns. Ensuring timely payment of legitimate claims is therefore seen as critical to rebuilding trust in the sector and encouraging greater participation in insurance.

IDRA has also been pursuing broader reforms, including stronger supervision of insurers and measures to improve financial discipline, as part of efforts to strengthen the overall insurance sector.

While Bangladesh has made remarkable strides in expanding access to financial services, ensuring that individuals and businesses can fully participate in and benefit from the formal financial system will define the next chapter of the country’s development journey.

According to a June 2026 report by the Bangladesh Bank, domestic credit card usage increased by 43.24 percent between June 2025 and June 2026, illustrating how rapidly payment behaviour is evolving among existing users. This is a meaningful signal of momentum. Yet financial inclusion is about more than increasing transaction activity among those already inside the formal system. The question today is how widely people and businesses across Bangladesh can participate in that system and use it to transact, save, grow businesses and build economic resilience. In that sense, financial inclusion is not only a social objective; it is an economic growth imperative, one that shapes how resilient households and enterprises are in the face of shocks, and how effectively capital reaches the people who can put it to productive use.

Much of that opportunity lies in reducing reliance on cash. Bangladesh Bank’s latest annual report shows that cash accounted for 67.2 percent of total transaction value in 2025, while digital payment channels represented 32.8 percent. Meanwhile, transaction volume through cards increased by 91 percent between July 2021 and June 2026, underscoring the longer-term shift towards card-based payments even as cash retains a substantial share of everyday commerce.

If the last decade was about building Bangladesh’s digital payments ecosystem, the next should be about ensuring every Bangladeshi can participate fully in it and access financial freedom.

Closing that gap will not happen overnight, but it is a clear and achievable opportunity. Making cards, POS devices, and QR acceptance infrastructure more affordable can help extend this progress across the mass market and encourage wider merchant acceptance, particularly among small retailers and businesses for whom the upfront cost of digital acceptance remains a real barrier. At the same time, well-designed, time-bound incentives for small merchants and consumers, particularly first-time and occasional users, can help turn digital payments into a habit rather than an alternative, nudging behaviour at the margin where it matters most.

Ensuring that inclusion reaches everyone, especially women, must be a national priority. Payroll digitisation has already demonstrated its transformative potential among Bangladesh’s four million ready-made garment workers, most of whom are women, for whom receiving wages digitally becomes far more than a change in payment method. It becomes a gateway to savings, a credit scoring history and greater financial security, benefits that ripple outwards into households and communities. Extending similar solutions to freelancers and SME workers, groups often left at the margins of formal finance, can bring these same benefits to even more people as Bangladesh’s economy continues to diversify.

Government-led programmes are playing their part too. Initiatives such as the Family Card and Farmer’s Card, which channel social safety net disbursements through open-loop digital systems, are similarly helping reach citizens who may not otherwise enter the formal financial system, demonstrating that public and private infrastructure can reinforce one another when designed to work together.

None of this requires reinventing the wheel. It requires keeping financial inclusion, rather than transaction volume alone, at the centre of policy and industry priorities, and sustaining the collaboration between regulators, financial institutions and technology partners that has brought the country this far. Mastercard remains committed to supporting this journey by strengthening the connected infrastructure that enables banks, fintechs, businesses and government programmes to operate together seamlessly. If the last decade was about building Bangladesh’s digital payments ecosystem, the next should be about ensuring every Bangladeshi can participate fully in it and access financial freedom.

The Chattogram Garments Accessories Association (CGAA) has urged Bangladesh Bank to simplify the documentation and payment process for back-to-back letters of credit (LCs), saying repeated approvals are delaying payments and squeezing the working capital of 100% deemed exporters.

In a letter to the central bank governor on 9 September, the association said manufacturers of garment accessories and packaging materials face prolonged delays because delivery challans, commercial invoices and other LC documents often have to pass through garment factories before reaching banks.

The letter was signed by Jamil Ahmed, acting president of CGAA and managing director of Britannia Label BD Ltd.

The association said that even when deemed exporters prepare all LC-required documents, they cannot always submit them directly to the concerned bank. Instead, documents are first sent to the garment factory for an authorised person's signature or "party acceptance", after which the factory submits them to the bank.

The bank may then return them to the factory for another approval or acceptance before payment or maturity is processed.

CGAA said the repeated movement of documents between deemed exporters, garment factories and banks causes processing delays, duplicate verification and approval, delayed payment or maturity, blocked working capital and cash-flow pressure.

It also raises banking and administrative costs and can result in discrepancy charges for procedural issues beyond suppliers' control.

CGAA seeks UCP 600-compliant LC process

The association has sought a policy review of whether the practice complies with the International Chamber of Commerce's UCP 600, the internationally recognised rules governing documentary credits.

It argued that required documents should primarily be determined by the relevant LC. Where documents are properly prepared and compliant, additional post-delivery party acceptance or repeated approval should not be mandatory unless specifically required by the LC, law or Bangladesh Bank directives.

CGAA asked Bangladesh Bank to review the practice and issue clear guidelines for commercial banks. Its seven-point proposal includes allowing deemed exporters to submit documents directly to banks; removing mandatory party acceptance unless explicitly required by the LC; requiring banks to examine documents strictly under LC terms and, where applicable, UCP 600; and notifying suppliers of discrepancies within prescribed rules and timeframes.

It also called for an end to repeated submission of documents to garment factories solely for internal approval, no discrepancy fees for bank processing delays or issues beyond suppliers' control, payment or maturity within the prescribed timeframe for compliant documents, and a uniform, simplified, digital and time-bound SOP for back-to-back LCs involving 100% deemed exporters.

Industry seeks stakeholder discussion

CGAA said a practical solution could be developed through discussions among Bangladesh Bank, commercial banks, garment manufacturers and deemed exporters.

It requested an open discussion to identify the root causes and establish a transparent, faster procedure.

The association said reducing unnecessary document movement, duplicate approvals, payment delays and unjustified charges would help deemed exporters manage working capital and cash flow more effectively while improving export-sector efficiency.

High government taxes, expensive fuel, steep ground-handling charges and congestion caused by Dhaka airport’s single runway are pushing up airlines’ operating costs, expenses that ultimately land on passengers’ ticket prices, an airline managing director said on Saturday.

Mohammed Abdullah Al Mamun, managing director of US-Bangla Group and US-Bangla Airlines, made the observations at the policy conclave “World-Class Aviation for Bangladesh’s Economic Advancement”, organised by Bonik Barta at a conference centre in Dhaka.

A passenger travelling from Dhaka to Kuala Lumpur pays around Tk 9,890 in government tax and excise duty, Mamun said, against around Tk 2,000 on the Kuala Lumpur-Dhaka leg, a difference of around Tk 7,000.

US-Bangla alone loses around Tk 20 lakh a day due to the single-runway constraint, while congestion causes delays as aircraft queue for landing and departure

He cited similar disparities on other routes. A passenger departing Dhaka for Singapore pays around Tk 9,890 against around Tk 5,800 on the return leg. For Muscat, the figures are around Tk 10,000 from Dhaka against Tk 3,000 on return, while Dubai-Dhaka costs around Tk 4,000 against around Tk 10,000 from Dhaka.

“Fare will be high,” Mamun said, arguing that airlines have to factor such charges into ticket prices.

The burden is significant on domestic routes too, he said. A Dhaka-Jashore journey draws Tk 500 in VAT and Tk 200 in tax, with overall airport-related charges reaching around Tk 1,200.

Fuel is another factor. Mamun said aviation fuel in Bangladesh is currently more expensive than in Kolkata.

He also pointed to a large disparity in ground-handling charges. US-Bangla pays around Tk 97,000 for ground handling in Kuala Lumpur, he said, while a Malaysian airline coming to Dhaka can be charged around Tk 3 lakh for the same service.

Aeronautical, overflying and parking charges for a Boeing aircraft in Kuala Lumpur amount to around Tk 15,000, he said, against ground-handling charges of up to Tk 2.25 lakh in Bangladesh.

“An airline, at the end of the day, prices its ticket based on how much it costs to land and operate in a country,” he said.

Mamun said a level playing field was necessary for the aviation sector to grow. He pointed out that Kolkata and Kuala Lumpur each have four ground-handling companies, while Bangladesh remains wary of allowing more than one operator over concerns it could hurt Biman Bangladesh Airlines.

US-Bangla received a ground-handling certificate in 2023 and was capable of providing the service under the relevant rules and global certification, but had not received a licence, he said.

Bangladeshi airlines also have to pay ticket-sale commissions that some major foreign carriers do not, Mamun added.

The single runway at Hazrat Shahjalal International Airport is another major source of expense, Mamun said. Aircraft can spend around 20 minutes taxiing because of congestion, he said, adding that a Boeing can burn an additional 300-400kg of fuel as a result, an Airbus around 900kg and an ATR around 75kg.

Mamun said US-Bangla alone suffers losses of around Tk 20 lakh a day because of the single-runway constraint. The congestion also affects punctuality, with aircraft left waiting in queues for both landing and departure, he said.

Mamun also criticised the planning process for the Third Terminal, saying domestic airline operators were not properly consulted on the facilities they needed.

“The Third Terminal is for whom? First of all, it is for the operators, because operators facilitate the passengers,” he said.

He argued that Bangladesh’s ambition to become an aviation hub would ultimately depend on domestic airlines rather than foreign carriers. Air Commodore Md Nur-E-Alam, member (air traffic management) of the Civil Aviation Authority of Bangladesh (CAAB), told the programme that Hazrat Shahjalal International Airport can currently handle around 20-22 flights an hour.

With high-speed taxiways reducing runway occupancy time, CAAB expects the figure could eventually rise to 26-28 flights an hour, he said.

He acknowledged the limitations of a single runway and said a dependent runway was being considered, though development around the airport and shortage of space complicate plans for another runway and its associated facilities.

Civil Aviation and Tourism Minister M Rashiduzzaman Millat said the government was changing civil aviation rules after 42 years and wanted industry stakeholders to have a role in the process.

Addressing airline representatives, he said the government wanted to “give space to the stakeholders” and would invite them to a meeting before the rules were finalised.

“We will give you letters to join the meeting, and we will discuss and finalise the matter,” the minister said.

Bangladesh’s wheat imports are expected to fall by 11 percent to 66 lakh tonnes in the 2026-27 marketing year as high global prices, large stocks and uncertainty over global supplies weigh on demand.

The country relies on imports for more than 80 percent of its wheat-based food needs. It imported 74 lakh tonnes of wheat in the previous marketing year, according to a recent United States Department of Agriculture (USDA) report on Bangladesh.

The wheat marketing year runs from July to June.

The USDA said disruptions to grain shipments from Russia and Ukraine had reduced export supplies from the Black Sea, making global supply and trade flows less predictable for countries that depend heavily on imports.

US wheat export prices have increased by $26 per tonne since July. Hard Red Winter (HRW) wheat reached $321, or more than Tk 39,500, per tonne in August, partly because the disruptions increased market volatility.

“Because Bangladesh’s wheat import market is highly price-sensitive, higher global prices are expected to reduce import demand,” the report said.

LARGE STOCKS TO LIMIT FRESH IMPORTS

The private sector imported a large volume of wheat last year, pushing total imports to a record high, the USDA said. Private millers and traders are now holding substantial stocks, which are expected to reduce the need for fresh imports this year, particularly if global prices remain elevated.

Private-sector wheat imports rose 16 percent to nearly 66 lakh tonnes last year, while public-sector imports increased 61 percent to 7.51 lakh tonnes.

The increase in public-sector imports was largely driven by purchases from the United States after the government signed a memorandum of understanding (MoU) with US Wheat Associates.

Under the MoU, Bangladesh procured about 7.45 lakh tonnes of US wheat during the period, according to the USDA.

The government has committed to buying up to 7 lakh tonnes of US wheat annually until 2030. It has already contracted around 2.2 lakh tonnes for this year.

Despite the expected decline in imports, the USDA forecasts wheat consumption at 78 lakh tonnes this year, 4 percent higher than its previous estimate.

Demand for wheat flour remains strong among households and industries producing biscuits, confectionery, pasta, noodles and bakery products.

“As rice prices have remained high for more than a year, many households are now consuming more wheat flour than before,” the USDA said.

LOCAL PRODUCTION REMAINS LARGELY UNCHANGED

The USDA kept its forecast for local wheat production unchanged at 10.5 lakh tonnes.

It said both wheat acreage and production have remained largely stagnant in recent years.

“Despite strong domestic demand for wheat and wheat flour, farmers have shown limited interest in expanding wheat cultivation,” the report said.

Farmers can earn higher returns from other crops, such as vegetables and corn, during the same Rabi season. This reduces their incentive to use more land for wheat, the USDA said.

The agency also identified the limited availability of high-yielding wheat varieties suited to local conditions as a major constraint on production.

These factors are expected to continue limiting any significant increase in wheat acreage and production this year.

GPH Ispat, one of the leading steel manufacturing companies in Bangladesh, will raise nearly Tk968 crore through issuing rights shares, mainly to repay bank loans amid sluggish demand and persistent energy shortages affecting the steel industry.

The company's board approved the issuance of 967.77 crore rights shares at Tk10 each at a meeting held on Saturday, according to a disclosure to the stock exchanges.

Under the proposed rights offer, existing shareholders will be entitled to receive two rights shares for every ordinary share they hold.

The rights issue is expected to raise Tk967.77 crore, subject to approval from the company's shareholders at its annual general meeting (AGM) and final approval from the Bangladesh Securities and Exchange Commission (BSEC).

GPH Ispat will announce a separate record date to determine shareholders' entitlement to the rights shares after receiving the necessary regulatory approvals.

GPH Ispat's decision comes as its debt burden remains substantial. As of 31 March 2026, the company had long-term loans of Tk3,439 crore and short-term borrowings of Tk3,145 crore, taking its total borrowings to around Tk6,584 crore.

A senior company official, speaking on condition of anonymity, said the steel market has been facing weak demand while persistent energy shortages, particularly the gas crisis, have severely affected production.

"Business is going through a difficult period because demand has slowed, while the gas shortage has also hampered production. But loan instalments have to be paid on time despite the weak business environment," he said.

The company is also negotiating with banks to reschedule its loans, while its management is in discussions with Bangladesh Bank over the matter, he added.

GPH Ispat accumulated the high debt largely after making heavy investments to expand production capacity through new plants. However, delays in infrastructure development and a subsequent slowdown in demand have left the company facing pressure to service the borrowings, according to the official.

The latest rights issue is not the company's first attempt to raise fresh capital. In August 2024, GPH Ispat announced a plan to raise Tk242 crore through a rights offer, proposing one rights share for every three existing shares at Tk15, including a Tk5 premium. The proceeds were intended to finance a new expansion plant expected to generate Tk450 crore in annual revenue.

The BSEC, however, cancelled that rights-share application in May 2025, saying the documents submitted by the company were not satisfactory.

A month later, in June 2025, the securities regulator also rejected GPH Ispat's proposal to raise Tk500 crore through preference shares to repay loans.

The latest proposal therefore marks a significant shift in the company's capital-raising strategy, with debt repayment now taking priority over production expansion.

Meanwhile, GPH Ispat has recommended a 2% cash dividend for the financial year ended 30 June 2026, exclusively for general shareholders. Sponsors and directors holding 14.62 crore shares will not receive the dividend. The proposed payout to eligible general shareholders amounts to Tk6.75 crore.

The company's AGM is scheduled for 25 October, where shareholders will vote on both the dividend recommendation and the rights issue. The record date for participation in the AGM and entitlement to the proposed dividend is 1 October.

GPH Ispat returned to profitability in FY26, though earnings remained thin. The company posted a net profit of Tk3.38 crore, translating into earnings per share (EPS) of Tk0.07, compared with a loss per share of Tk0.51 in FY25.

Its net asset value stood at Tk51.81 per share, while net operating cash flow per share was Tk15.73.

Despite the return to profit, investors remained cautious. GPH Ispat shares fell 3.09% to Tk15.70 on the Dhaka Stock Exchange today (13 September). The company's market capitalisation stood at around Tk759 crore against paid-up capital of Tk483.88 crore.

The capital shortfall in 21 banks rose to nearly Tk2.94 lakh crore in March 2026 from Tk2.74 lakh crore three months earlier, amid a rise in non-performing loans and provisioning requirements.

As some banks have capital surpluses that offset part of the deficits, the banking sector's overall net capital shortfall stood at Tk2.39 lakh crore across 61 banks in March, up about Tk22,000 crore from Tk2.17 lakh crore in December.

Speaking to The Business Standard, bankers and economists said persistent capital shortfalls indicate that a large part of the banking sector remains financially weak, with rising default loans being a major factor behind the deterioration.

"Banks' capital shortfall increases as defaulted loans rise. Banks have to maintain provisions against defaulted loans, which reduces their profits. In other words, continued losses increase the capital shortfall," said Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank.

Bangladesh Bank data show that the banking sector's provision shortfall stood at Tk2,05,665 crore in March, up from Tk1,98,260 crore at the end of December 2025. The provision shortfall rose to Tk2,22,357 crore in June.

Rising defaulted loans put pressure on capital

The banking sector's capital position has deteriorated over the years due to aggressive lending, weak supervision and loan approvals influenced by political considerations, according to bankers and economists.

When loans become classified as defaulted, banks have to maintain higher provisions against them. For regular or performing loans, banks generally need to maintain provisions of around 1% to 2%, while provisions against classified loans can rise to as much as 100%, depending on their classification.

The provisioning requirement is intended to protect depositors and strengthen banks' ability to absorb potential losses. However, as defaulted loans rise and banks have to set aside more funds as provisions, their profitability and capital positions come under pressure.

Total defaulted loans stood at Tk5,88,704 crore in March 2026, equivalent to 32.26% of total outstanding loans.

Finance Minister Amir Khosru Mahmud Chowdhury told parliament recently that the government was spending around Tk40,000 crore in the current fiscal year to recapitalise weak banks as part of broader efforts to restore discipline and stability to the financial sector.

Capital weakness affects depositors, healthy banks

Zahid Hussain, former lead economist at the World Bank's Dhaka office, said capital shortfalls have two major effects on the banking sector.

"First, depositors lose confidence in banks that have capital shortfalls. Capital is an important indicator that protects depositors' interests and deposits, and adequate capital helps banks withstand shocks. Therefore, negative capital creates risks. Banks with capital shortfalls also cannot conduct business properly," he said.

Second, the economist said, financially sound banks could also come under pressure because lenders and creditors from abroad may become hesitant to extend credit to banks in Bangladesh.

"If one or two banks have capital shortfalls, it may be manageable. But when 20 or 21 banks of the 61 banks have been suffering from capital shortfalls for a long time, it indicates that the banking sector is in a weak position," Zahid said.

CRAR falls deeper into negative territory

The banking sector's capital-to-risk-weighted assets ratio, or CRAR, another key indicator of financial strength, fell to negative 3.17% at the end of March from negative 2.64% in December, according to Bangladesh Bank data.

International regulatory standards require banks to maintain a minimum CRAR of 12.5%.

According to Bangladesh Bank's Financial Stability Report 2025, Pakistan's banking sector had a CRAR of nearly 21% at the end of 2025, while Sri Lanka's exceeded 19%. India's banks had an average CRAR of 17.20%.

Md Touhidul Alam Khan, managing director and CEO of NRBC Bank, said failure to maintain the required regulatory capital, particularly the CRAR, could have serious regulatory, financial and operational consequences.

He said, "If a bank fails to maintain its required regulatory capital, particularly the CRAR, it may face serious regulatory, financial and operational consequences. These may include restrictions on dividend payments and incentive bonuses, deterioration in credit ratings, declining depositor confidence, increased solvency and funding risks, higher costs of doing business, especially in trade finance, and pressure on profitability due to higher provisioning requirements."

Touhidul further said, "Inadequate capital may also limit lending capacity and reduce the bank's ability to absorb losses."

First Security Islami Bank tops shortfall list

First Security Islami Bank recorded the highest capital deficit in the country at Tk66,264.80 crore as of March 2026. Bangladesh Krishi Bank followed with a shortfall of Tk31,687.17 crore, while Social Islami Bank reported Tk30,936.67 crore.

Among other major default-ridden institutions, Union Bank faced a deficit of Tk30,594.56 crore, Exim Bank Tk30,302.23 crore, Janata Bank Tk18,354.90 crore, Global Islami Bank Tk16,297.61 crore, National Bank Tk11,984.98 crore, AB Bank Tk8,487.59 crore, and Agrani Bank Tk8,234.92 crore.

A crude oil tanker of Bangladesh Shipping Corporation (BSC), MT Ninemia, arrived at Chattogram port from Saudi Arabia on Saturday.

Carrying 1 lakh tonnes of oil, the ship sailed through the Suez Canal, the Mediterranean Sea and the Strait of Gibraltar before going around South Africa’s Cape of Good Hope.

To avoid the Bab el-Mandeb Strait amid tensions, the detour stretched to 50 days. Besides, it cost an additional Tk 66.63 crore.

Had the vessel taken the regular route from Yanbu through the Red Sea and Bab el-Mandeb, the Indian Ocean and then to Bangladesh, the voyage from Yanbu to Chattogram would have taken around 13 to 15 days, officials said.

After the US-Israel war on Iran led to disruption in the Strait of Hormuz, Bangladesh had been increasingly relying on shipping routes through the Red Sea for oil and other energy imports from the Middle East.

But as Yemen’s Houthi rebels have tightened their grip on the Bab el-Mandeb Strait, a narrow waterway located at the mouth of the Red Sea, the escape route for a sizable chunk of the Middle East’s oil is looking increasingly shaky.

As a result, Bangladesh’s imports from Saudi Arabia and other Middle Eastern countries face significantly longer routes and higher transport costs. The development is significant for Bangladesh because Saudi Arabia is a key source of crude oil, urea, diammonium phosphate (DAP) fertiliser, liquefied petroleum gas (LPG) and methanol.

Bangladesh imported 29.98 lakh tonnes of goods worth Tk 21,307 crore from Saudi Arabia in the fiscal year 2024-25. The volume rose to 30.41 lakh tonnes, worth Tk 25,673 crore, in FY2025-26.

In the first two and a half months of the fiscal year 2026-27, Bangladesh imported about 526,000 tonnes of goods worth Tk 5,604 crore from the Gulf country.

Of the 30.41 lakh tonnes imported from Saudi Arabia in 2025-26, crude oil accounted for 13 lakh tonnes, urea 6.07 lakh tonnes and DAP 3.27 lakh tonnes.

NO IMMEDIATE RISK TO FUEL SUPPLIES

Bangladesh relies on Saudi Arabia and the UAE for crude oil imports, although its dependence on the Middle East for refined petroleum products is minimal.

The country now sources diesel and other refined fuels from a wider group of suppliers under government-to-government arrangements and international tenders.

Recent procurement has involved suppliers from China, Malaysia, the UAE, Indonesia, Thailand, India and Oman, while crude oil imports remain concentrated in Saudi Arabia and the UAE.

Under government-to-government arrangements, BPC imports Arabian Light crude from Saudi Arabia and Murban crude from the UAE.

Monir Hossain Chowdhury, joint secretary of the Energy and Mineral Resources Division who oversees fuel issues, told The Daily Star that Bangladesh currently faces no immediate risk to fuel supplies because stocks remain adequate and refined petroleum products continue to arrive normally from alternative sources.

According to Bangladesh Petroleum Corporation (BPC) data, Bangladesh’s annual petroleum demand is about 72 lakh tonnes, while Eastern Refinery Ltd (ERL) refines about 15 lakh tonnes of crude oil, all of which is imported.

“Our stocks are sufficient. I can assure you that we have at least 35 days of diesel stocks.

There has been no interruption in the supply chain so far, and no supplier has told us that they will be unable to supply,” said Monir.

He said Bangladesh does not significantly depend on the Middle East for refined petroleum products, limiting the immediate impact of disruptions around the Bab el-Mandeb Strait.

Crude oil imports, however, remain a concern as Bangladesh sources crude from the region.

Asked about the possibility of higher transport costs as crude vessels take longer routes, Monir said such additional costs may have to be borne if the security situation persists.

“We may have to incur higher costs, but as long as the supply chain remains secure, we have nothing to be anxious about,” he added.

Apart from the MT Ninemia, another tanker carrying about 1 lakh tonnes of crude oil from the UAE’s Fujairah port is scheduled to sail on September 14-15 and reach Chattogram on September 29.

BPC officials said the vessel does not need to pass through the Bab el-Mandeb Strait and is therefore expected to arrive on schedule.

Even so, officials are becoming increasingly concerned about the broader impact of rising global oil prices. Brent crude recently crossed the $100-a-barrel mark, which could push up the price of refined petroleum products.

FERTILISER MAY FACE RENEWED PRESSURE

The disruption risk extends to fertiliser imports, especially urea and DAP, for which Bangladesh relies significantly on Saudi Arabia.

In FY 2025-26, Bangladesh imported 14.79 lakh tonnes of urea, of which 6.06 lakh tonnes came from Saudi Arabia. During the same period, the country imported 7.81 lakh tonnes of DAP fertiliser, including 3.27 lakh tonnes from Saudi Arabia.

Any prolonged diversion of vessels away from the Bab el-Mandeb could therefore raise freight costs and extend delivery times for fertilisers.

Md Mosharraf Hossain, chairman of the Bangladesh Fertilizer Association, said fertiliser supplies could come under renewed pressure if growing Houthi control along Yemen’s Red Sea coast disrupts shipping through the Bab el-Mandeb Strait.

“There is already anxiety and concern, and we have already started discussions with the exporters,” he said.

Mosharraf said fertiliser imports need to be expedited, as the upcoming Rabi season will require adequate supplies for crops including potatoes, corn, linseed, oilseeds, onions and garlic.

He thinks any disruption or delay in fertiliser supplies during the Rabi season could create serious problems for agricultural production.

TENSION MAY HURT FOOD EXPORTS

Ahsan Khan Chowdhury, chairman and chief executive officer of PRAN-RFL Group, said Bangladesh exports about $200 million worth of agro-processed food products to Saudi Arabia each year.

He said PRAN has significant business dealings with Saudi Arabia. Any disruption or delay in shipments could therefore affect business operations.

“If shipments are affected, the impact will naturally be felt in our business,” he said.

However, Ahsan expressed optimism that the situation would not continue for long and that business activities would eventually return to normal.

“We believe the situation will not prolong. Ultimately, things will be okay,” he said.

The Executive Committee of the National Economic Council (ECNEC) is set to hold its third meeting of the 2026-27 fiscal year on Wednesday, with a 15-project agenda spanning transport, defence, health, water resources and land management sectors, according to a notice issued by the Planning Division.

The meeting will be held at 10:00 am at the Cabinet Room of the Secretariat, chaired by Prime Minister and ECNEC Chairman Tarique Rahman, according to the notice.

Under the Physical Infrastructure Division, the committee will examine the Dhaka Mass Rapid Transit Development Project (Line-5): Southern Route, to run from September 2026 to August 2033 under the Road Transport and Highways Division.

Also on the list are upgradation of district highways under Rajshahi Road Zone and under Chattogram Road Zone in its third phase, both under the same division, reports UNB.

Defence-related infrastructure proposals include the second phase of Barisal Cantonment establishment (July 2026-December 2030) and construction of accommodation and other facilities for naval personnel in the Khulna Naval Zone (July 2026-June 2029), both proposed by the Ministry of Defence.

The Khulna Drainage System Development Project (first revised), running from July 2020 through June 2027 under the Local Government Division, is also listed, alongside two railway projects from the Ministry of Railways: the Implementation of Electric Traction Along the Narayanganj-Dhaka-Joydebpur Section of Bangladesh Railway and the first-revised project for a new dual-gauge railway line from Bogura to Sirajganj.

Under the Industries and Energy Division, ECNEC will review the Improved Working Conditions and Social Protection for Workers in the Textile and Leather Sector project from the Ministry of Labour and Employment, and the first-revised upgradation and expansion of the electricity distribution system in Manpura island area under the Power Division.

Three proposals fall under the Socio-Economic Infrastructure Division, all from the Health Services Division of the Ministry of Health and Family Welfare and the Financial Institutions Division: Health System Strengthening through MNCH Services Improvement and NCDs Control, Integrated Health System Response to Fight Against TB, HIV/AIDS and Malaria in Bangladesh, and Financial Sector Support Project-II or FSSP-II.

Rounding off the approval list under the Agriculture, Water Resources and Rural Institutions Division are the construction of the Musapur Regulator with integrated flood and river management and drainage improvement of the Chhoto Feni and Bamni rivers, part-1 from the Ministry of Water Resources, and the second-revised Digital Land Management System project, covering digital land surveys in three city corporations, one pourashava and two rural upazilas (July 2018-December 2028) from the Ministry of Land.

The notice also lists 15 additional projects already approved by the minister concerned to be placed before ECNEC for information.

These include the second-revised Automation of Land Management project and the first-revised construction of the Bangladesh Red Crescent Society's national headquarters, both from the Ministry of Land and the Ministry of Disaster Management and Relief, respectively.

Also featured are the first-revised Establishing Green Belt at Bhasan Char and Reforestation of areas affected by Rohingyas in Cox's Bazar, from the Ministry of Environment and a project on strengthening research, conservation and development of indigenous poultry from the Ministry of Fisheries and Livestock.

Infrastructure items on this list include the first-revised establishment of a telecommunication network in economic zones, replacement of ageing and risky bridges in the Rangpur zone, construction of an RDA building from the fifth to tenth floor, construction of a quarter guard and ancillary infrastructure at Jalalabad Cantonment, and preparation of a Digital Elevation (3D) Model of Sylhet division to enhance flood forecasting capacity.

Education, social welfare and sports-related projects for information include infrastructure development at Cantonment Public School and College, Saidpur; further infrastructure development at Military Collegiate School, Khulna; the first-revised Strengthening Social Protection for Improved Resilience, Inclusion and Targeting (SSPIRIT) project; and development works at the Barguna and Dinajpur district stadiums.

Besides, the second-revised drilling of the Sylhet-10 exploration well, under the Energy and Mineral Resources Division.

The plan was discussed earlier this month when a team of the Washington-based multilateral lending agency had meetings with Finance Minister Amir Khosru Mahmud Chowdhury in Dhaka.

IDA's lending terms are highly concessional, meaning that IDA credits carry almost no or low-interest charges. Its funds are allocated to the recipient-countries in relation to their income levels and record of success in managing their economies and their ongoing IDA projects.

Historically, Bangladesh is the second-largest recipient of IDA credits worldwide.

"Our joint objective should be to reach an overall disbursement rate of 25 per cent in FY27, equivalent to US$2.03 billion," Jean Pesme, World Bank's Division Director for Bangladesh, wrote in a recent letter to the finance minister in reference to their meeting early September.

He also disclosed the proposed FY27 pipeline for Bangladesh totaling some $2.61 billion.

Mr Pesme further wrote that as the proposed FY27-28 tentative programme would substantially exceed Bangladesh's performance-based IDA21 allocation, "we will need to make adjustments, including accessing additional IDA windows and reallocating resources from underperforming projects".

He sought government's continued assistance in securing the necessary approvals, particularly for operations planned for FY27 Q1 and Q2, to support timely disbursement of the funds.

In FY26, Bangladesh received $1.27 billion from the IDA followed by $2.01 billion in FY25, $1.60 billion in FY24, $1.85 billion in FY23, $1.55 billion in FY22, and $1.30 billion in FY21.

Under the FY27 pipeline Bangladesh is likely to get $59.67 million from IDA for 'Learning Acceleration in Secondary Education Operation Project', $95 million for 'Bangladesh Resilient Urban and Territorial Development Project', $140 million for 'Chattogram Water Supply Improvement Project' and $300 million for 'Learning Enhancement and Acceleration in Primary Education in Bangladesh project".

Also, for the 'Bangladesh One Health Project', the World Bank may disburse $225 million from IDA, $70 million for 'Dhaka MRT Development (Line-2) and Institutional Strengthening Project", $142 million for 'Bangladesh: Digital Service Transformation for Access and Resilience Project, and $400 million for 'Bangladesh Strategic Flood Resilience Program'.

Moreover, 'Bangladesh Coastal Resilience Project' may receive $230 million, 'Accelerating Clean Energy Investment Programme (IDCOL Renewable Energy Facility) Project' may receive $350 million, the 'PFM Reform Programme for Modern, Transparent, and Inclusive Public Financial Management' may receive $250 million and 'Bangladesh Agriconnect' may receive $350 million.

A senior finance division official told The Financial Express the World Bank gave importance on effective use of IDA resources as the money comes from "generosity" of the member-countries.

He said the World Bank officials also emphasised timely approval for projects so that disbursements can be made as planned.

"World Bank's low-cost loan and grants help to accelerate socioeconomic growth and reduce poverty in Bangladesh," he said.

Bangladesh so far has received over $45 billion in commitments from the World Bank's IDA programme.

Bangladesh has outlined a $1.85 billion investment plan to execute an equitable green economic transition, becoming the first country in Asia to incorporate a dedicated Just Transition chapter into its Nationally Determined Contributions (NDC 3.0).

The framework translates the country's climate targets into actionable and bankable investment opportunities, according to an action plan presented at a national high-level dialogue in Dhaka on Thursday.

The dialogue was jointly organised by the Department of Environment, International Labour Organisation (ILO), South Asian Network on Economic Modeling (SANEM) and the Embassy of Sweden.

The strategy was developed through a cross-mapping of 14 national strategy documents, including the Eighth Five-Year Plan, Perspective Plan 2041 and Bangladesh Delta Plan 2100. It consolidated 258 commitments into 33 core priorities.

These priorities form an action matrix containing 69 traceable and time-bound activities across six key sectors-energy, transport, construction, agriculture, waste management, and industrial processes and product use (IPPU).

The final implementation plan will be incorporated into NDC 3.0 this month before being presented to international development partners and global investors at COP31 in November.

SANEM Executive Director Dr Selim Raihan and ILO Just Transition Technical Officer Elisa Benistant Fremigacci jointly presented the action plan and its annexes at the dialogue.

Speaking as the chief guest at the event, State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam said the government was focusing on field-level measures to clean major rivers and reduce air and noise pollution.

Referring to his recent visits to facilities in Rajshahi, he stressed the need to improve occupational safety and health standards for factory and waste-management workers.

Workers are central to economic growth and therefore need fair wages, stronger social protection and skills upgrading to cope with technological changes, he said.

Bangladesh is also targeting 10,000 MW of renewable energy within five years as part of its clean-energy transition, including through wind power projects such as those in Cox's Bazar.

The government is forming an inclusive, multi-sectoral team to present strong research and policy positions at COP31, the state minister added.

Speaking at a panel discussion, Dr Fahmida Khatun, distinguished fellow at the Centre for Policy Dialogue (CPD), said a just transition must focus on creating employment through the green transition.

She called for sector- and occupation-level mapping to identify where jobs would be gained or lost and proposed adding a green jobs module to the Labour Force Survey to establish a reliable baseline. She also stressed the need for data disaggregated by sex, age, geography, and formal and informal employment to better target social safety-net programmes such as the Family Card.

Emission-reduction tracking should be paired with employment and decent-work indicators, she said, calling for an institutional mechanism to integrate data across the Bangladesh Bureau of Statistics, government ministries, employers and worker organisations.

Moustapha Kamal Gueye, director of the ILO's Just Transition Priority Action Programme, said climate ambition requires building human capacity among workers, businesses and communities to transform energy, agriculture and transport systems.

Social justice and decent work are essential to climate mitigation and adaptation rather than merely additional benefits, he said, stressing that social dialogue should be formally institutionalised instead of remaining ad hoc.

Bangladesh Employers' Federation Secretary General Farooq Ahmed said a just transition required a whole-of-society approach involving all stakeholders, not just employers and workers.

He noted that Bangladesh accounts for only 0.47 per cent of global carbon emissions, yet remains disproportionately vulnerable to climate change because of its geographical position.

He identified three key responsibilities: raising public awareness, mobilising financial and technical resources, and developing a framework for resilience and preparedness.

He also called for climate issues to be communicated in simple and accessible language and stressed the need to build the capacity of small and medium-sized enterprises to adapt to environmental and technological changes.

Mesbahuddin Ahmed, chairman of the National Coordination Committee for Workers' Education, recalled past industrial disruptions caused by globalisation and cautioned against repeating instances where workers lost jobs without opportunities for retraining.

The current green transition must prioritise worker reskilling and involve worker organisations from the outset, he said.

Sector-level specialisation is also crucial to understanding future workforce needs and designing appropriate training, he added, stressing that a just transition must go beyond policy documents to deliver real jobs, job security and effective skills transfer.

ILO Country Director Max Tunon moderated the panel discussion.

The intensifying global competition for critical minerals could be a transformative moment for Africa.

The continent is already a major producer of energy transition metals such as copper, cobalt and manganese but is nowhere near its full potential.

Africa’s share of global mineral revenues sits at just 10 percent, despite accounting for 30 percent of the world’s reserves, according to the Brookings Institution.

There may be yet more riches hidden underground.

It’s difficult to know, because the continent was the target of just 10 percent of global mineral exploration in 2024, according to the US think-tank Center for Strategic and International Studies (CSIS).

Moving forward, however, that number is likely to increase as Africa becomes the front line in the global battle for resources, with the West vying with China for control of metals that are core components of both green technologies and AI data centers.

Can Africa seize its metallic moment?

To do so, the continent must break with a long history of resource exploitation by external powers.

European colonisation of Africa in the late 19th and early 20th centuries laid the foundations for unequal trading relationships centred on the extraction of raw materials for overseas markets — a pattern that persists to this day.

From the rubber plantations in the Belgian Congo through goldfields in South Africa to the copper mines of what is now Zambia, Africans have provided the blood, sweat and tears only to see the rewards reaped by foreign owners.

Now, many African governments are realising that the global hunger for critical metals offers a unique chance to change the terms of resource trade.

One obvious route African nations can take to capture more value from mining is to build more processing capacity.

Indonesia has shown others the way.

The country banned exports of nickel ore in 2020, forcing miners to invest in smelters.

The strategy has been so successful that Indonesia is now the world’s dominant producer, exporting a wide spectrum of nickel products, including high-purity refined metal and sulphate for battery manufacturers.

African countries have taken note.

Zimbabwe has imposed export controls on lithium, Guinea on bauxite and the Democratic Republic of Congo on both cobalt and copper, all with the ambition of leveraging raw materials to expand domestic processing capacity.

However, the number of barriers to establishing a successful processing business is “vast”, according to a joint analysis by consultancy CRU and the World Bank in a June report.

Power supply, infrastructure, logistics, technical capacity and policy must all be right to make what is a low-margin business profitable even when prices drop. Indeed, these factors can be more important than the mineral reserves themselves.

Just look at Angola.

It is building an aluminium smelter at the port of Barra do Dande despite having neither bauxite nor the capacity to process it into alumina, the intermediate product fed into the smelting process.

What the project does have is a deep-sea port suitable for handling raw materials and a strategic location in a free-trade zone, allowing it to benefit from shared infrastructure, favourable business rates and reliable power supplies.

Angola also sits at the end of one of the largest infrastructure projects in Sub-Saharan Africa — one that has huge implications for the region’s push to limit external power on the continent.

The Lobito Corridor will combine new and existing railway lines to link the central African Copperbelt with the Angolan port of Lobito.

The ambitious project is heavily backed by both the US and Europe.

It has massive strategic significance.

The Lobito Corridor offers a Western shipping alternative to the Chinese-built TAZARA railway line running from Zambia to the Tanzanian port of Dar es Salaam.

TAZARA is the transit route for much of the region’s copper and cobalt as they start their long journey to a Chinese port.

Chinese companies own and operate some of the largest copper and cobalt mines in the region, beginning a supply chain that ends in Chinese-made electric vehicles or humble air-conditioner units.

The Lobito Corridor is a direct challenge to that dominance.

The project cuts freight time from Congo’s mines to the sea from over a month to just one week, helping reduce risk for potential private-sector investment. China has responded with a commitment to spend $1.4 billion to revamp TAZARA, which it financed in the 1970s.

Ultimately, the competing rail corridors, one heading west and one east, represent a potential win-win for both Congo and Zambia.

The Lobito Corridor, however, promises much more than a fast exit route for Africa’s metals.

It is intended to be an economic booster in its own right, creating agricultural, metals and technology hubs along its 1,800-kilometre (1,120-mile) route.

Western partners in the project are investing not just in hard infrastructure but also in what the European Union describes as “soft connectivity”, meaning trade facilitation, technical and vocational training, and a focus on creating local employment.

The results are already tangible in Angola, where railway infrastructure is simply being upgraded rather than built from scratch, as will be the case for the planned extension into Zambia in 2030.

Upgrades create more immediate economic opportunity in the local economy.

Congo’s copper and cobalt are now accompanied on their journey to Lobito by Angolan agricultural goods from the country’s farming heartland in Huambo province.

Angola exported its first avocados to Europe last November thanks to an EU-funded trade logistics platform and a €50-million investment programme in sustainable agricultural chains.

This holistic approach to the Lobito Corridor offers one way out of Africa’s historic resource trap.

Even building processing plants doesn’t necessarily spread any wealth through the local economy if they operate as export-oriented fiscal enclaves.

Congo’s copper production is now largely in the form of high-purity refined metal, but the country still exports almost all of it to China for conversion into manufactured goods.

That needs to change if Africa is to grab a larger share of its mineral revenues.

HISTORIC MINERS

Perhaps the single biggest challenge facing African countries seeking to convert mineral wealth into long-term economic growth is how to deal with their traditional workforce.

It’s estimated that around 10 million people are directly involved in artisanal and small-scale mining (ASM) in Africa, with many more dependent on it for subsistence.

Africans have been mining for thousands of years, and collective small-scale operations have been the norm for most of that time, particularly in rural areas with low employment prospects.

It’s dangerous work, but that doesn’t prevent the participation of both women and children.

Fatalities are common and the environmental impact can be devastating.

The word “artisanal” implies a degree of free agency, but ASM is often more akin to bonded labour.

The ore dug out of the ground is sold to middlemen at a fraction of its true value.

In conflict zones such as Congo’s eastern provinces and some Sahel countries, ASM can be outright forced labour at mines controlled by insurgent groups.

Africa’s historical miners operate in a dark zone thanks to colonial-era laws declaring all such “native” operations illegal.

The result is the criminalisation of millions of people, lost revenue for states and an ethical dilemma for Western companies, many of which are understandably wary of buying metal that may include ASM ore.

There are multiple efforts to “formalise” ASM by integrating the workforce into the official mining sector.

The most ambitious is in Congo, which has long been targeted by campaigners for its “blood” cobalt.

Kinshasa has tried and failed before to find ways of merging its “illegal” miners into the official sector.

But new cobalt export quota controls and enhanced powers for the mining regulator, the Entreprise Générale du Cobalt, promise better results from a new scheme launched with Eurasian Resources Group.

The irony is that if the West wants Congo’s cobalt and doesn’t want to rely on Chinese operators, it needs to source from the ASM sector.

But the metal has to come with guarantees that it’s untarnished by human rights abuses.

It’s in everyone’s interests to bring Africa’s original miners in from the cold.

Indeed, for Africa itself, it may be the single most important lever it can pull in terms of changing a blood-soaked historical narrative of exploitation.

The country's equity market suffered a sharp pullback last week as persistent concerns over an ongoing energy crisis, a weakening corporate earnings outlook, and fragile investor sentiment continued to weigh heavily on trading activity.

The benchmark DSEX index of the Dhaka Stock Exchange plummeted by 146 points, or 2.59%, to settle at 5,515. Mirroring the broader market slump, the blue-chip DS30 index dropped 45 points, or 2.12%, to close at 2,095. Overall market capitalisation contracted significantly, wiping out Tk5,400 crore over the week.

Broad-based selling pressure dominated the floor, resulting in 310 issues declining against only 60 advancing, while 16 remained unchanged.

Daily average turnover on the Dhaka bourse dropped 9% to Tk554 crore, reflecting cautious participation from both institutional and retail investors.

According to a weekly market review by EBL Securities, the capital bourse ended the week in negative territory as investors remained wary of the adverse impact of persistent gas and electricity shortages on industrial production and corporate profitability.

The week opened on a subdued note, with the prolonged bearish trend dragging the intraday DSEX index below the 5,500-point mark. Although bargain hunters attempted to stage a reversal mid-week as declining stock valuations offered attractive entry points, broader concerns over macroeconomic uncertainty quickly outweighed buying interest, sustaining the downward momentum through subsequent sessions.

Sheltech Brokerage Limited noted in its weekly report that the market performance was primarily shaped by strong initial selling pressure, which led to the sharpest single-session decline seen in the last five months. While opportunistic buying emerged toward the middle of the week, it failed to trigger a meaningful recovery and was eventually offset by persistent profit-booking and risk aversion.

Investor activity was heavily concentrated in the textile sector, which accounted for 29.5% of total turnover, followed by general insurance at 14.2% and pharmaceuticals at 10.4%.

Sector-wise performance was overwhelmingly negative across the board. The ceramics sector suffered the steepest decline, falling 5.9%, followed by paper and life insurance, which dropped 5.6% and 5% respectively.

Amid the widespread downturn, the mutual fund sector stood out as a notable exception, gaining 3.7% as short-term-oriented investors sought quick-gain opportunities.

Top turnover leaders for the week included Sharp Industries, Envoy Textile, Malek Spinning, Saiham Cotton, and Saiham Textile.

Envoy Textile led the weekly gainers' chart with a 20.4% surge, followed by Phoenix Finance First Mutual Fund at 20.3%, Exim Bank First Mutual Fund at 13.8%, Mercantile Insurance at 11.8%, and Reliance Insurance Mutual Fund One at 10.6%.

Conversely, Al-Haj Textile emerged as the top loser, tumbling 16.9%, alongside Information Service Network, Orion Infusion, Samata Leather, and Desh Garments.

BRICS leaders have called for a revamp of the global governance system, condemned unilateral tariffs and "acts of war", and backed greater representation for developing countries at the United Nations Security Council (UNSC).

The positions were outlined in the New Delhi Declaration adopted today (12 September) at the BRICS Summit in the Indian capital, where Indian Prime Minister Narendra Modi announced the consensus document, reports NDTV.

The declaration called for a "structural update" of the UNSC, with greater representation for developing countries from Africa, Asia, Latin America and the Caribbean.

China and Russia, the two permanent members of the Security Council represented at the summit, reiterated their support for Brazil and India seeking a greater role at the UN, including on the Security Council.

"Today's discussion makes it evident that the changing world cannot be steered by outdated institutions; reforms are essential in representation, responsiveness and rule-making," Modi said in his concluding remarks.

He also stressed that the Global South should have an equal role in shaping future technologies and the rules governing them.

The declaration urged BRICS members to increase the use of local currencies in trade among themselves, reducing reliance on the US dollar.

Tariff concerns

The bloc also criticised the growing use of tariffs and other trade restrictions, reaffirming its support for reform of the World Trade Organization (WTO).

BRICS said the global trading system should remain open, transparent, equitable and rules-based, while expressing "serious concerns" over unilateral tariff and non-tariff measures that it said were inconsistent with WTO rules.

It warned that such measures could hamper global trade, disrupt supply chains and create uncertainty for international economic activity, while worsening existing economic disparities.

The group said it would work to make the WTO more responsive to trade disruptions and the needs of emerging markets and developing economies.

Condemnation of terrorism

The declaration strongly condemned terrorism in all its forms and reaffirmed the bloc's commitment to tackling terrorist financing, safe havens and the cross-border movement of terrorists.

"We express strong condemnation of any acts of terrorism as criminal and unjustifiable, regardless of their motivation, whenever, wherever and by whomsoever committed," the declaration said.

BRICS also stressed that terrorism should not be associated with any religion, nationality, civilisation or ethnic group, and said those involved in terrorist activities and their support should be held accountable under national and international law.

The declaration further denounced "unilateral acts of war" and stressed the importance of protecting seafarers and commercial navigation amid ongoing military aggression in the Middle East.

The summit comes as BRICS marks two decades since its creation and follows the group's expansion beyond its original membership.

The British Bangladesh Chamber of Commerce and Industry (BBCCCI) plans to establish a British-Bangladesh Trade Centre in London to strengthen trade, investment and business ties between Bangladesh and the United Kingdom.

The proposed centre will connect businesses from both countries, facilitate investment and help build commercial partnerships, the chamber said in a press release yesterday (12 September).

The announcement was made at the BBCCCI Business Reception 2026 and the inauguration of its newly elected committee at the Ivy Hill Hotel in London.

The trade centre will support businesses seeking to enter the Bangladesh and UK markets and organise programmes focused on trade, investment, entrepreneurship development and bilateral business cooperation, according to the chamber.

"The main objective is to turn connections between British and Bangladeshi businesses into trade and create new business opportunities," BBCCCI Director General Musleh Ahmed said.

He said the centre would help businesses identify potential partners, explore new markets and expand their operations through joint ventures and other forms of cooperation.

BBCCCI President Muhib Chowdhury said the proposed centre reflected the chamber's commitment to building a modern and ambitious organisation.

He said the BBCCCI would play a leading role in strengthening commercial relations between Bangladesh and the UK.

M Nazrul Islam, Bangladesh's acting high commissioner to the UK, was the keynote speaker at the event.

The chamber said growing interest among businesses in accessing international markets, exploring investment opportunities and building strategic partnerships had created a need for stronger institutional support.

It expects the proposed trade centre to deepen economic relations between Bangladesh and the UK and potentially become an important hub for bilateral trade and investment.

BBCCCI advisers, members of the chamber's election commission, businesspeople, professionals, journalists and representatives of various professional organisations attended the programme.

Pubali Bank PLC's board of directors has recommended doubling the bank's authorised capital to Tk4,000 crore from Tk2,000 crore, subject to approval from shareholders and Bangladesh Bank.

The decision was taken at a board meeting held today (10 September).

To facilitate the increase, the bank will raise its total number of ordinary shares to 400 crore from 200 crore, with a face value of Tk10 each. The board has also proposed amendments to relevant provisions of the bank's Memorandum and Articles of Association.

The proposals will be placed before an Extraordinary General Meeting (EGM) scheduled for 25 October, which will be held virtually through a digital platform. The record date for the EGM has been set for 29 September.

Following the price-sensitive disclosure on the Dhaka Stock Exchange, Pubali Bank shares remained unchanged at Tk37.70 today.

Earlier, Pubali Bank posted robust financial growth in the second quarter and first half of 2026. The bank's consolidated earnings per share (EPS) rose to Tk2.95 for April–June 2026, from a restated Tk2.51 in the same period a year earlier. For the January–June period, consolidated EPS increased to Tk4.39 from Tk3.70. The bank attributed the growth in earnings to higher investment income, increased commissions, exchange and brokerage fees, and other operating revenues.

Consolidated net operating cash flow per share experienced a notable upward trend, surging to Tk48.78 for January–June 2026 from Tk32.28 in the corresponding period of 2025. This improvement was driven by a strategic focus on high-yield lending, fee diversification, cost optimisation, digital transformation, and increased customer deposit collections.

Additionally, the bank's consolidated net asset value (NAV) per share reached Tk48.90 as of 30 June, 2026, up from a restated Tk45.27 at the end of December 2025, propelled by higher retained earnings and paid-up capital additions from stock dividends.

Bangladesh's electrical and electronics exports are gaining momentum, with shipments of electrical products rising nearly 24% in FY2025-26, even as manufacturers seek to keep pace with increasingly demanding sustainability, traceability, and product-compliance requirements in the European Union.

According to the latest Export Promotion Bureau (EPB) data, exports of electrical products increased 23.82% from $166.52 million a year earlier, reaching a record $206.19 million.

The category was the largest earner among engineering products, surpassing bicycles, which earned $151.04 million, up 29.71%.

Engineering exports overall rose 21.77% to $652.15 million, underscoring the growing contribution of electrical and electronics products to Bangladesh's export diversification.

The growth comes as the European Union introduces new sustainability requirements through its Ecodesign for Sustainable Products Regulation (ESPR) and Digital Product Passport (DPP) framework.

The ESPR entered into force in July 2024, introducing requirements for DPPs and product durability, as well as a ban on destroying certain unsold goods.

The ESPR does not immediately require every electronic product to carry a DPP. Instead, product-specific requirements are being introduced through delegated acts. Where applicable, manufacturers will need to provide information on materials, components, environmental characteristics, durability and repairability.

For Bangladesh, this could prove challenging as manufacturers remain dependent on imported components and raw materials, making supply-chain traceability more difficult.

Industry races to prepare

Mohammad Ali, senior vice-president of the Bangladesh Electrical Merchandise Manufacturers Association (Bemma), said the association was preparing its members through workshops covering product origin, warranties, after-sales service, repairability, and documentation.

"We are already working on a product basis, product origin, product warranty, and after-sales service – whether a product is repairable or not," he said.

But the sector still lacks adequate testing infrastructure, Ali said.

Bemma has approached the commerce and industries ministries several times for support in establishing facilities capable of testing electrical products against European and other Western-market standards.

"For the electrical sector, we think there should be an individual common facility centre," he said.

Such a facility could particularly benefit smaller manufacturers that are beginning to explore export markets.

Imported inputs pose traceability challenge

Supply-chain traceability remains another hurdle, particularly because many manufacturers source components and raw materials from China and Vietnam.

"Most of the raw materials we are importing are from China or Vietnam. In that case, it is actually totally difficult to identify the carbon footprint," Ali said.

Bemma members that have traditionally focused on the domestic market face a steeper learning curve as they move towards exports, he said.

Walton says it can adapt

For leading exporter Walton, adapting to changing international standards is not new.

Syed Al Imran, executive director of Walton Hi-Tech Industries, said the company had repeatedly upgraded its systems as overseas requirements changed, citing the transition from manual registration to the digital Registered Exporter (REX) system and changes in European energy-efficiency ratings.

"When A+++ changed to A, B, C, D and E, Walton instantly upgraded," Al Imran said.

He attributed the company's ability to respond quickly partly to its vertical integration, with Walton manufacturing many of its own parts and components.

Another advantage is Walton's NUSDAT-UTS laboratory, which provides testing and certification services, including CB certificates, he said.

Walton previously had to send refrigerators to India for testing, but NUSDAT-UTS reports are now accepted for the relevant Indian star-rating process, eliminating the need to send products abroad, Al Imran said.

When new requirements emerge, Walton can work with NUSDAT-UTS and partner laboratories to identify necessary upgrades and implement them, he added.

Vision prepares for European entry

PRAN-RFL Group's Vision Electronics is also preparing to enter the European market.

The company currently exports across South Asia, Southeast Asia, Oceania and Africa, while Europe remains a strategic target.

For refrigerators and air conditioners, Vision is redesigning its product architecture to meet European quality, safety and eco-design requirements. It has already secured G-Mark certification for its air-conditioner line for the Middle East.

The company is integrating ERP systems to track raw-material origins, chemical compliance and sub-assembly batches. It is also digitising bills of materials and working with consultants to measure Scope 1, 2 and 3 emissions at its Habiganj and Danga industrial parks.

Its R&D team is moving towards modular PCB designs and quick-release compressor and fan-motor mounts to facilitate repairs and component replacement.

Vision is also replacing some non-recyclable composite plastics with single-grade polymers such as ABS and HIPS, while planning for the long-term availability of key spare parts.

Policy support needed

Bemma says stronger government support is needed to help the broader industry compete internationally.

Ali called for incentives, back-to-back letters of credit and duty relief on imported raw materials, similar to support mechanisms available to the garment sector.

"If we get this kind of government backup in the electrical sector, I think electrical and electronics can be the most promising sector over the next 10 years, even more promising than RMG," he said.

The senior vice-president also urged the commerce, industries and finance ministries to hold sector-specific discussions with electrical manufacturers.

A more immediate regulatory deadline concerns batteries. Under the EU Batteries Regulation, an electronic battery passport will be mandatory from 18 February 2027 for electric-vehicle batteries, industrial batteries above 2kWh and light means of transport batteries placed on the EU market.

For Bangladesh's rapidly expanding electrical and electronics industry, the challenge is moving beyond producing competitive goods to being able to prove how they are made, tested, sourced and repaired.

Bangladesh currently exports a range of consumer electronics and appliances, including televisions, refrigerators, freezers and air conditioners, as well as electrical equipment such as power transformers, electric cables and insulated wires, switches, sockets, circuit breakers and LED lighting solutions.

The export basket also includes rechargeable batteries, transistors and semiconductor devices, along with eco-friendly bicycles and other light mechanical components.

With electrical exports growing at a double-digit rate, manufacturers that build these capabilities early could be better positioned to turn the sector's export growth into a sustained foothold in major global markets.

Bangladesh has 51.83 lakh tonnes of fertiliser in government stocks against a projected demand of 35.20 lakh tonnes through February, leaving a surplus of around 16.63 lakh tonnes, according to the Ministry of Agriculture. Yet farmers in several districts are struggling to buy fertiliser, with some waiting in long queues or paying above government-fixed prices.

The Business Standard found that the disruption lies in the distribution chain after the government began implementing a new dealer policy during peak Aman demand. Existing dealer vacancies, uncertainty over the transition and rumours of dealership cancellations have reduced lifting from warehouses, disrupting last-mile supply to farmers.

The disruption has since led to farmer protests and allegations of overpricing and hoarding, despite adequate fertiliser stocks at the national level.

The agriculture ministry gazetted the Comprehensive Policy on Fertiliser Dealer Appointment and Distribution 2026 on 27 August, seeking to reorganise a system the government says had suffered from discrimination and weaknesses in distribution.

Under the new arrangement, each union can have up to three dealer units. One additional dealer is to be appointed while existing eligible dealers remain, and one person cannot hold more than one dealership. Fresh appointments are also being made against vacant dealer points.

The government says the changes are intended to make fertiliser distribution more efficient, transparent and accessible to farmers.

An unbecoming time

Implementation of the new dealer appointment and distribution system began when Aman cultivation was already under way and fertiliser demand was high, with the Rabi season also approaching.

Officials said work on revising the dealer system began in June, but repeated changes pushed the appointment process into the peak demand period.

Mohammad Hamidur Rahman, former director general of the Department of Agricultural Extension (DAE), said the timing was inappropriate.

"Aman cultivation, the country's main rice crop, starts from the beginning of August. Farmers need a huge amount of fertiliser at this time. But the new dealer appointment process was started at this very time, which was not right. As a result, existing dealers have reduced fertiliser collection from warehouses. Some are not collecting fertiliser at all. This has created the crisis," he said.

The government should have started the dealer appointment process during the off-peak season after assessing the situation, he added.

Rumours over dealerships unsettle distribution

Sector insiders said the policy transition created uncertainty among dealers, while rumours spread that existing dealerships would be cancelled.

The policy itself retained eligible existing dealers, and the agriculture ministry had also issued instructions allowing existing chemical fertiliser retailers to continue operating.

But insiders said the uncertainty was enough to make some dealers reduce or stop lifting fertiliser from government warehouses.

Agriculture Secretary Md Salim Khan acknowledged that internal disputes over the new integrated policy had affected lifting by dealers of the Bangladesh Chemical Industries Corporation (BCIC) and Bangladesh Agricultural Development Corporation (BADC).

He also blamed rumours for creating panic among farmers.

"Effectively, there is no fertiliser shortage. A section of people are artificially creating various incidents. Many rumours have been spread at the district level about fertiliser. They have agitated farmers by spreading the claim that there is no fertiliser," he said.

An already weak dealer network

The policy transition came on top of another problem: thousands of dealer points were already vacant.

State Minister for Local Government Mir Shahe Alam told parliament on 9 September that around 3,759 dealer points had become vacant after dealers appointed under the previous government left their positions. The government plans around 4,918 new appointments as it seeks to fill gaps and expand the network.

The vacancies were not created by the new policy, but agriculturists say they left the distribution network more vulnerable when the government began changing the system during peak demand.

Dealers had sought a delay

The Bangladesh Fertilizer Association (BFA) also raised objections to the timing and implementation of the new policy.

After seeking clarification over provisions it described as unclear, unlawful and contradictory, the association asked the agriculture ministry in September to suspend the dealer appointment process for two months.

The request followed a High Court order asking the ministry to dispose of the BFA's objections within 60 days. The association argued that appointments should remain suspended during that period so the Aman season could be completed without further disruption.

BFA Chairman Md Mosharraf Hossain had separately instructed dealers in August to lift allocated fertiliser on time and sell it at government-fixed prices.

Reduced lifting hits local supply

Agriculture ministry officials said the disruption became more acute after dealers lifted only around half of their allocated fertiliser from government warehouses in July and August.

Officials said agriculture officers in 15 districts failed to report the reduced lifting to the ministry. After two consecutive months of low collection, shortages began appearing in local markets.

The ministry later concluded that some dealers had deliberately refrained from lifting allocations to create an artificial shortage, officials said.

Show-cause notices were subsequently issued to agriculture officials in the affected districts, while some faced withdrawal and stand-release orders.

Agriculture Secretary Md Salim Khan said some farmers were also trying to stock more fertiliser ahead of the Rabi season, adding further pressure on local supply.

Farmers feel the impact

The effect has become visible in districts including Rajshahi, where farmers have repeatedly visited dealer warehouses only to return without fertiliser.

Some supplies are also being sold outside the authorised dealer network at substantially higher prices. TSP, officially priced at Tk1,350 per sack, has reportedly been selling for around Tk2,000 in the open market.

More than 100 farmers from Baneshwar and surrounding areas blocked the Rajshahi-Natore highway for about an hour earlier this week, protesting what they described as an artificial shortage and demanding increased supplies.

Enough fertiliser nationally

Government figures, however, continue to show sufficient supply at the national level.

The government told parliament this week that projected demand for urea, TSP, DAP and MOP from October through February stands at 35.87 lakh tonnes, against 51.71 lakh tonnes of prepared supply – around 15.84 lakh tonnes above projected demand.

State Minister for Commerce Md Shariful Islam said the government was maintaining domestic production, imports and buffer stocks to keep supplies uninterrupted.

The figures reinforce the central problem identified by officials and sector insiders: fertiliser is available nationally, but disruptions in the dealer network are preventing it from consistently reaching farmers.

Govt steps up monitoring

The government has intensified enforcement as it tries to stabilise distribution.

Agriculture ministry officials said 230 mobile courts were conducted between 28 August and 10 September, with fines totalling Tk38,68,824. Authorities also recovered 1,700 sacks of fertiliser and sentenced four people to imprisonment.

Monitoring arrangements have been strengthened across all 64 districts, while the government is moving ahead with new dealer appointments.

The challenge now is to complete that transition without further disrupting a distribution system already under pressure during one of the busiest periods of the agricultural calendar.

The government aims to attract an additional $5 billion in US investment to Bangladesh over the next five years, Commerce Minister Khandakar Abdul Muktadir said.

He said the government and the American Chamber of Commerce in Bangladesh (AmCham) would work together to achieve the target, with the government ready to cooperate with US companies to boost investment, create jobs, facilitate technology transfer and expand economic opportunities.

The minister made the remarks as the chief guest at a programme marking AmCham Bangladesh's 30th anniversary at the Radisson Blu Water Garden in Dhaka today (12 September).

US Ambassador to Bangladesh Brent T Christensen, AmCham President Syed Mohammad Kamal, Vice President Ala Uddin Azad, former presidents and current and former executive committee members, government officials, business leaders and media representatives attended the event.

Bilateral trade between Bangladesh and the US currently exceeds $13 billion, Muktadir said, adding that the relationship extends well beyond trade.

AmCham member companies have invested more than $5 billion in Bangladesh and contribute more than 20% to the country's national revenue, according to the minister.

"This investment reflects the confidence of US businesses in Bangladesh's economy," he said.

Muktadir said AmCham leaders recently met with the prime minister and expressed interest in bringing an additional $5 billion in US investment to Bangladesh over the next five years.

"The government will provide the necessary support to implement this initiative," he said.

He assured US businesses that the government would respond to genuine concerns raised by investors.