Jagaran Chakma

Plastic recycling plants in Bangladesh are becoming a vital part of the circular economy as foreign buyers are prioritising sourcing plastic products from Bangladeshi manufacturers who use recycled plastic along with virgin materials.

The demand for luxury apartments has remained unchanged while the sales of regular properties and initiation of new housing projects are in the slow lane amid the ongoing economic crisis, according to market players.

Rising rubber production in Bangladesh is helping local tyre manufacturers cut the country’s reliance on the imports of the product used in making bicycles, motorcycles, three-wheelers and easy bikes, said an industry insider. 

Tomato farmers, particularly those in the southwest division of Khulna, are facing steep losses as prices for the fruit have come down drastically due to oversupply, as is the case around this time each year.

The Bangladesh Investment Development Authority (Bida) has identified 106 factories as risky for lacking required fire safety measures and having vulnerable working conditions under a nationwide initiative aimed at preventing fire incidents and other disasters.

According to the Bangladesh Rubber Board (BRB) and rubber producers, 67,939 tonnes of latex were produced in the country last year, up 58 per cent from 43,000 tonnes in 2021, driven by an increase in the number of gardens and acreages under cultivation. 

The price of mild steel (MS) rod may soon cross Tk 1 lakh per tonne as production costs have risen due to a recent hike in fuel and energy prices amid the ongoing US dollar crisis, according to industry people.

The Asian Development Bank (ADB) has showed its intention to mobilise $3.5 billion along with a co-financier for the implementation of the southern route of the Dhaka Mass Rapid Development Project’s MRT Line-5, officials said.

The government’s decision to increase the power tariff twice last month has created undue pressure on small industries that are unable to keep up with rapidly rising production costs, according to various businesspeople.

Runner Automobiles is all set to launch the country’s maiden “Made in Bangladesh” three-wheeled auto-rickshaw on February 11. 

Production costs in the ceramics industry of Bangladesh will rise by up to 15 per cent due to a recent hike in the price of gas, which adds to the list of crises threatening the sector’s overall growth, according to manufacturers.

Like other sectors, the paint industry in Bangladesh is in troubled waters as the US dollar crunch has made it difficult for manufacturers to import raw materials in line with their demand. 

Developers of a number of private economic zones are finding it hard to implement plans for a lack of gas connections.

Operators of private economic zones in Bangladesh should review their infrastructure and logistic masterplans to ensure the maximum utilisation of the existing facilities, according to M Masrur Reaz, chairman of the Policy Exchange of Bangladesh.

The pharmaceuticals industry, which has made life-saving drugs available at lower costs, is facing troubles in opening letters of credit (LCs) to import much-needed raw materials and capital machinery owing to the US dollar crunch. 

Medical treatments are about to get costlier as production cost for manufacturing  drugs will go up by at least 25 per cent following a recent hike in gas and power charges, according to manufacturers.

The latest hike of gas prices undoubtedly spells trouble for industries as they will try to shift the burden onto consumers by raising product prices, which will boomerang onto them by eating away at their competitiveness in international markets. 

Pran-RFL Group is going to invest in four new sectors -- $10 million in automobile parts, $3 million in stainless steel and aluminium pipe, $2.5 million in electric bike and $7 million in tableware. 

Bangladesh is set to soon witness local assembling of cars of a third international brand. 

The devices were only thought to be used by higher-income groups in Bangladesh, but as people’s disposable income rises, lifestyle changes and the power supply improves consumers from the middle-income groups are turning to geysers to use warm water for a comfortable bath.