Goods worth Tk 16k imported at Tk 2.63 crore
State-run Power Grid Company of Bangladesh Ltd (PGCBL) imported 68 kilograms of tower bolts, nuts and washers from India for a whopping $2,39,695 or Tk 2.63 crore, which is 1,619 times the contract value.
4d ago
Under-invoicing by importers crowding out country's lone sandpaper maker
Bangladesh’s first and only sandpaper plant is struggling to expand its footprint owing to unhealthy competition from importers, who are allegedly under-invoicing prices of the abrasive paper.
1w ago
NBR halts export, import by Abdul Monem Group
The National Board of Revenue has suspended all imports and exports by Abdul Monem Group and all its subsidiaries, including Abdul Monem Sugar Refinery, over misuse of bond facilities and non-payment of applicable duty and fines worth Tk 674.35 crore.
2w ago
NBR halts Abdul Monem Group's import, export
It also instructs banks to freeze the Group's bank accounts
2w ago
Sugar market: from state to private control
Five companies are enjoying an oligopoly in the sugar market, which was worth more than Tk 9,000 crore in fiscal year 2022-23, as they have expanded their refining capacities to meet increasing demand.
2w ago
Edible oil market now controlled by big four
Data from the National Board of Revenue (NBR) shows that nearly 25.7 lakh tonnes of soybean and palm oil were imported in 2023, with the four companies accounting for 80 percent of the total amount.
2w ago
NBR issues 'electric seal and lock rules' for fourth time
Earlier, there was a provision for the service providers to be appointed by a committee appointed by the board, said Rahman. Now the company which can provide this service at a low cost will be given the job, he explained.
3w ago
NBR issues gazette to process imports faster
The National Board of Revenue (NBR) has issued a gazette notification stipulating that imports have to be declared well in advance of the previous deadline for notifying of their arrival, all to reduce false declarations and enable quick releases.
1m ago
March 7, 2024
Sugar prices edge up as traders tighten supply
Sugar prices have gone up at both the wholesale and retail levels amid hoarding by traders on speculation of reduced supply after the fire incident at S Alam Refinery, one of the largest raw sugar importers and refiners in Bangladesh.
February 28, 2024
Electric vehicles etching their way into domestic automobile industry
The automobile industry of Bangladesh is seeing a notable shift towards electric vehicles (EVs) with BYD Auto Co Ltd, the world’s biggest EV maker, set to launch its Seal model on the domestic market.
February 16, 2024
Govt to promote value-added products for post-LDC era
The government is considering further incentives while emphasising ICT and advanced technology in order to increase the production of value-added products as part of preparations for graduation from least developed country (LDC) status, Chairman of the National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem said yesterday.
February 15, 2024
Sugar, palm oil and date prices increase in spite of duty cut
In order to boost supplies and contain prices of essential goods during the month of Ramadan, the government took measures to alleviate the burden on consumers by reducing value added tax and import duties on four commodities -- edible oil, sugar, dates and rice on February 8.
February 6, 2024
Steel products get costlier as customs hikes assessment value
The prices of all types of steel products have gone up by Tk 5,000 to Tk 15,000 per tonne within the span of a week after the customs department increased the assessment value by a large margin, traders said.
January 21, 2024
Essentials in Ramadan: Dollar crisis, hoarding jack up prices
With Ramadan less than two months away, the prices of chickpeas, dried peas, dates, and soybean oil have increased in Dhaka and Chattogram.
December 30, 2023
Sinohydro flouting duty-free import rules
Chinese state-owned company Sinohydro Corporation Limited imported equipment, vehicles and accessories worth about $103 million or Tk 1,145 crore in the last nine years under duty-waiver facility.
December 29, 2023
Import of 30 high-in-demand products down 26%
The import of 30 goods, which are in high demand in industry, farming and households, through Custom House, Chattogram has dropped in volume by 26 percent in the first five months of fiscal year 2023-24 compared to the same period of last year.
December 1, 2023
Wheat prices climb after forex shock
wheat saw prices per kilogramme (kg) increase by 9.20 percent to 14.29 percent
November 13, 2023
Kashmir houseboat fire: A return ticket that will never be used’
The suggestion that solar power should lead Bangladesh’s charge into a renewable energy revolution is often met with the skeptical remark that we don’t have enough land. But a recent study by Coastal Livelihood and Environmental Action Network and Bangladesh Environmental Lawyers Association says otherwise.
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