Md Asaduz Zaman

The interim government plans to strengthen the universal pension scheme (UPS) with the aim of bringing people from all walks of life under a sustainable social security framework.

Amid cautious spending by the interim government and disruptions due to political turmoil, the implementation rate of the annual development programme (ADP) in the current fiscal year’s first quarter hit the lowest in at least 15 years.

Revenue collection in the first quarter of the current fiscal year showed a 6 percent year-on-year decline, raising concerns that the interim government’s fiscal space may be squeezed further amid the contractionary monetary policy.

Of their total corporate social responsibility (CSR) expenditure, banks spent 45 percent on disaster management violating rules in the first half of 2024, with bankers saying it mainly went to various funds maintained by the Prime Minister’s Office before the political changeover on August 5.

Bangladesh’s foreign debt servicing surged 29 percent year-on-year in the first three months of fiscal 2024-25 owing to the country’s expanded foreign loan portfolio and the rise in global interest rates.

Maleka Begum, 70, carries the weight of nearly five decades of widowhood on her shoulders. Since her husband Abul Hossain Gazi died in 1972, her life has been a constant struggle.

The OMS programme is a public food distribution system under which the government sells rice and flour at subsidised rates through authorised dealers and trucks across the country.

Four years after its approval, the cost of the Matarbari deep-sea port project in Cox’s Bazar has escalated, while the deadline has been pushed back too.

Bangladesh’s cost to service loans from multilateral and bilateral lenders surpassed the amount received from them during the first two months of fiscal year (FY) 2024-25, indicating that the country’s already fragile foreign exchange reserves may be stressed further.

The government’s revenue collection in the first two months of the current fiscal year has been 11 percent lower year-on-year, which the tax administration attributed to the recent political unrest and the interim government’s emphasis on doing away with inflated figures.

Duty exemptions provided by the National Board of Revenue (NBR) have been increasing over the years despite Bangladesh’s low tax-to-GDP ratio and the International Monetary Fund’s (IMF) recommendation to rationalise such expenses.

Inflation eased in August but remained at over 10 percent, as higher prices of goods and services continued to strain the purchasing power of consumers.

The scope for legalising undisclosed income without facing any questions remains as the tax administration has not scrapped the provision of whitening black money in case of the purchase of flats and land, raising criticism.

Fresh vegetable and fruit exporters are apprehending a drop in sales of perishables following a hike in cargo freights, particularly by Biman Bangladesh Airlines, last month..Biman, the state carrier, hiked cargo fares in August anywhere from 56 percent to 150 percent depending on the rout

Industrial output in Bangladesh grew at its slowest pace since the Covid-19 pandemic, hitting 6.66 percent last fiscal year owing to declining exports, import restrictions and a slowdown in domestic demand due to persistent inflation.

Persistent inflationary pressure, particularly in terms of food inflation, has been taking a toll on low- and fixed-income people in Bangladesh, forcing them to spend most of their income on nutrition.

Fatima Khatun, dressed in a washed-out kameez, came to Muslim Bazar in Mirpur 12 to shop with her four-year-old son on August 16.

Vandalism and arson attacks on factories since earlier this month have created deep concerns among entrepreneurs and plunged thousands of employees who work in these firms into uncertainty.

Although the authorities took steps to eliminate mismatches in export data in recent months, discrepancies in the data of revenue collection and expenditure among government agencies continue to persist.

Three months ago, the policy rate was hiked for the last time by 50 basis points to 8.5%