Jagaran Chakma

The cut in source tax in the proposed budget may not bring down the price of steel, meaning the cost of infrastructure and construction projects is unlikely to decline, manufacturers say.

The 20-year tax-exemption support announced in the proposed budget will definitely take Bangladesh’s growing automobile industry to an impressive stage and promote local manufacturing, according to industry insiders.

Although the government said that it would reduce the taxes levied on the import of raw materials used to make cement, this initiative will not have a satisfactory impact as prices would remain the same at the consumer level, according to market players.

Marico Bangladesh is set to invest Tk 227 crore to establish a new manufacturing unit at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram as a part of its efforts to catch a greater share of the growing market for fast-moving consumer goods.

The government is cautious about addressing the challenges the country would face after its transition to a developing country in 2026.

Bangladesh’s largest industrial enclave, the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram, is scheduled to witness the inauguration of its very first factory on June 10, likely through a virtual platform, by Prime Minister Sheikh Hasina.

The sales of air conditioners have tripled year-on-year in April and May as people rushed to retailers to get rid of the scorching summer.

The government has made the quality testing of imported bitumen mandatory to ensure product standards.

The Bangladesh Export Processing Zones Authority (Bepza) is establishing an economic zone at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) to diversify exports.

The government should implement the current stimulus packages for the cottage, micro, small and medium enterprises (CMSMEs) and announce another round of support in the upcoming budget to help them survive, said experts and entrepreneurs.

Japanese companies doing business in Bangladesh are facing challenges during the coronavirus pandemic, including a lack of information and support from authorities, which may dent the flow of investment, according to investors and a recent survey.

PHP Float Glass Industries, a concern of PHP Family, has started manufacturing reflective glass for the first time with plans to export it on meeting local demand.

The pandemic is showing no signs of abating but still 41.8 per cent of Japanese companies in Bangladesh during 2020 wanted to expand business in the next two years, according to a survey by Japan External Trade Organization (Jetro).

The country’s ceramic manufacturers have demanded low-cost funds on easy terms for payment of their workers’ salaries, allowances and Eid bonuses.

The domestic plastic pipe industry is growing at around 20 per cent a year thanks to its rising demand in the ongoing government development projects and modern water supply, sewerage and irrigation systems.

Home appliance makers and retailers are witnessing better sales than previous year on the back of online shopping, promotional offers and free delivery ahead of Eid-ul-Fitr.

Bus operators in Bangladesh are losing Tk 500 crore every day as they have been off the road because of the lockdown, which may turn many owners into loan defaulters as their income has fallen to zero.

The price of each 50-kilogramme bag of cement has increased by around 12 per cent, or Tk 50, to Tk 450 to Tk 460 -- a development that will push up construction costs, be it the government’s development projects or privately-owned buildings.

The number of ambulances hitting the streets is on the rise as businesses are spending more on import amid an increase in its demand during the ongoing pandemic.

Pahela Baishakh, the first day of the Bangla calendar, is the busiest day for sweet makers in Bangladesh as customers throng outlets to buy delicious items.