The Finance Minister has proposed to reduce the source tax rate on 60 essential commodities including paddy, rice, wheat, potato, livestock, poultry, fish, onion, garlic, ginger, salt, sugar, edible oil and seeds from 5 per cent, 2 per cent and 1 per cent to 0.5 per cent. He said that in line with the election […]
The decision was announced in a gazette notification issued by the Ministry of Power, Energy and Mineral Resources today, Sunday. According to the notification, the retail price of diesel will remain unchanged at Tk 115 per litre. However, the price of kerosene has been increased from Tk 130 to Tk 135 per litre, the price […]
Bangladesh Steel Mills Association (BSMA) president Mohammad Jahangir Alam said the increase in fuel prices could increase rod prices by Tk 200 per tonne and cement prices by Tk 4-5 per bag. “Rising fuel prices are increasing production costs inside and outside factories. However, due to weak market demand we are unable to raise prices,” […]
6. In its April update on Bangladesh, the World Bank highlighted several specific risks posed by the Iran war: Higher energy prices could increase the current account deficit to about 1 percent of GDP; Inflation could rise by at least 0.5 percentage points; Industrial growth may slow, exports may weaken, and rising imports may worsen […]
Rising fuel prices are increasing transportation costs, and the impact of this is already increasing the prices of essential commodities. There are also concerns that prices may rise further in the near future. Therefore, it is important to control expenses from now on. When the cost of fuel increases, the cost of transporting goods increases. […]
1. What is the biggest challenge for the economy right now? The key challenge is to manage multiple pressures simultaneously: curbing inflation, creating jobs, restoring investor confidence, reforming the banking sector and reducing risks in the energy sector. 2. Why is inflation being given maximum attention? Inflation currently stands at 8.71 percent, while wage growth […]
The Ministry of Energy, Energy and Mineral Resources announced this at a press conference held at the Secretariat today, Thursday. It added that the app will be gradually introduced across the country for all types of vehicles. On a trial basis, it has been launched at Trust Filling Station at Tejgaon and Sonar Bangla Filling […]
The press statement detailed the various measures adopted in the meeting based on the briefing by Cabinet Secretary Naseemul Ghani. According to the press release, amid the current global situation, a target has been set to save about 3,100 MW of power per day through an integrated action plan of the Power Division to overcome […]
Iran has allowed the passage of six Bangladeshi flagged ships stranded in the Strait of Hormuz. Iran’s Ambassador to Bangladesh Jalil Rahimi Jahanabadi revealed the development at a press conference at the Iranian Embassy here today. “We informed Tehran about six ships. Iran’s National Security Council has approved assistance for these ships. However, we could […]
Octane supply to double demand The energy division said diesel accounts for 63 per cent of the country’s fuel consumption, while petrol and octane each account for 6 per cent. Nevertheless, long queues have been seen at filling stations for petrol and octane in the last month. However, there is no danger of shortage of […]
A major topic of the meeting outside Paris was Iran’s closure of the Strait of Hormuz, a major energy and trade barrier that has caused global energy prices to rise. “We reiterated the absolute necessity of permanently restoring safe and toll-free freedom of navigation in the Strait of Hormuz,” the statement said. At their meeting, […]