Dwaipayan Barua

Import and export of containerised cargo through the country’s premier seaport in Chattogram fell in the first quarter of the current fiscal year compared to that last year, indicating a slowdown in foreign trade resulting from global economic downtrends. 

The revenue collection growth decelerated to 12.63 per cent in Bangladesh in the first quarter of the current fiscal year, driven by the cost-of-living crisis at home and abroad, narrowing the fiscal space for the government, official figures showed.  

The government should allow freight forwarders to set up and run bonded warehouse facilities with a view to handling export and import cargoes smoothly, said Bangladesh Freight Forwarders Association (BAFFA) Vice President Khairul Alam Suzan. 

The International Monetary Fund has cut Bangladesh’s growth forecast to 6 percent for fiscal year 2022-2023.

The Tk 10,460 crore Ghorashal Palash Urea Fertiliser Factory project, taken up four years ago, is likely to cost 48 percent more and take two more years to be completed.

Rather than going for mere expansion, Chattogram-based denim exporter Denim Expert Limited wants to attain perfection in its product and innovation as well as achieve environmental sustainability in order to turn the facility into a model factory. 

PHP Family, a Chattogram-based business group, launched soundproof glass production yesterday as a part of its expansion aiming to meet the demand for sound protective and energy efficient glass.

Saif Powertec entered a deal with Abu Dhabi-based Safeen Feeders yesterday to run three container feeder vessels on the Bangladesh-United Arab Emirates (UAE) and other international routes.

The government’s foreign debt repayment has become costlier owing to the sharp depreciation of the taka against the US dollar in recent months.

The Chattogram Port Authority (CPA) may not have to spend Tk 3,600 crore to acquire 803 acres of khas land for the Bay Terminal project as the government is considering its application to be given the area for free or at a token price.

The deadline to complete the construction of the Chattogram elevated expressway has been extended for two more years. Meanwhile, the immense suffering of the port city residents in their daily commute is to continue.

The cost of the already delayed elevated expressway project in Chattogram city is likely to rise by Tk 1,048 crore and the deadline extended by two more years as a proposal in this regard is set to be placed before an Ecnec meeting today.

The Finance Division has urged all government offices to rein in hasty expenditures at the end of each fiscal year as it destroys fiscal discipline and increases the government’s borrowing cost.

The last two trial runs aimed at the transit of Indian goods between Kolkata and north-eastern states of the country using Chattogram port in Bangladesh will take place next week.

The government will appoint a German joint venture as the consultant for the construction of a breakwater and channel dredging work at the proposed Bay Terminal, a long-awaited project of Chattogram port.

Owners of private inland container depots (ICDs) in Chattogram yesterday revised the charges for all five types of container handling services, a day after the latest government move to trim fuel prices.

Privately owned BM Container Depot has partially resumed operations on gaining permission to temporarily handle empty containers after around two and half months of suffering a deadly explosion.  

Bangladesh’s marine fishing industry is barely keeping head above water as their operating costs have risen significantly after fuel prices were hiked twice in the last eight months.

Already in talks with a Saudi investor interested in running the newly built Patenga Container Terminal (PCT), Bangladesh recently signed an agreement with International Finance Corporation (IFC) to advise on the modus operandi.

Facing criticism for unilaterally raising a service charge last week, private inland container depots (ICDs) have decided to hold discussions with stakeholders first before hiking rates of their other facilities.