Jagaran Chakma

Bangladesh’s steel industry is set to see the entry of a couple of large business houses while several existing steelworks are looking to expand their capacities in order to gain from the rising demand for the key construction material.

Partex Petro Ltd, an oil refinery, has started production and marketing of aviation fuel, becoming the first company in Bangladesh to manufacture the finished product for the growing air transport market. 

The demand for large-screen and premium-branded televisions has picked up in Bangladesh as sports-loving fans are gearing up to watch cricket and football world cups.    

Eastern Cables Limited, a subsidiary of the Bangladesh Steel and Engineering Corporation, was once the only cable manufacturer in Bangladesh.

Industries, already under huge pressure for the fall in gas supply and higher input costs, have been hit with power outages in the last few days, which have raised the production cost and may force factories to cut output. 

Like always, investors and experts apprehend that there will be challenges in implementing the new industrial policy to achieve maximum benefits due to a lack of ownership and coordination among line ministries and various stakeholders.

Bangladesh’s entire business sector, particularly the producers focused on the domestic market, is facing troubles due to an unprecedented hike in the US dollar price as their cost of production has witnessed a sharp spike. 

One of the Rampal power plant’s two units was inaugurated last month but it still requires some machinery to practically start running. 

The market for glass used in construction has increased steadily in Bangladesh over the past 15 years thanks to expansion in the real-estate sector resulting from rapid urbanisation, according to industry insiders.

Six Bangladeshi companies have showed their interest to invest $457 million at Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram and Sabrang Tourism Park in Cox’s Bazar.

The steel industry in Bangladesh is currently witnessing a steep drop in sales as the depreciation of taka against US dollar has hiked production costs at a time when consumers are unwilling to pay higher prices for the key construction material.

Just two decades ago, one could hardly hope to see a well-furnished bathroom in the country’s semi-urban and rural areas.

Foreign assistance utilisation by the government has gone up by 1.57 per cent year-on-year during the first two months of the current fiscal year, thanks to improvements in the use of project aid. 

The Bangladesh Road Transport Authority (BRTA) has extended the time for purchase of motorcycle without a valid driving licence until December 14.

Sales growth in the local two-wheeler industry has slowed ever since the government made it mandatory for owners to produce a valid driver’s licence when registering their motorcycle.

The Bangladesh Economic Zones Authority (Beza) plans to sign a commercial agreement with India by this year for establishing the Indian Special Economic Zone (ISEZ) as negotiations in this regard are almost complete.

The number of filling stations that dispense liquefied petroleum gas (LPG), also known as Autogas, is on an upward trend across the country as consumption is growing amid government efforts to cut dependency on  compressed natural gas (CNG) and fuel oil.

Three bottlers control more than 50 per cent of the $3.2 billion liquefied petroleum gas (LPG) market in Bangladesh, according to industry people and a recent market assessment. 

The use of foreign aid for development projects in Bangladesh jumped 49 per cent year-on-year in July, providing some relief to the government amid the ongoing pressure on the country’s foreign exchange reserves.

Both realtors and buyers have fallen into an uncomfortable situation due to the sudden increase in raw material prices amid the ongoing war in Ukraine, strain on foreign currency reserves, and rising inflation in the country.