United News of Bangladesh

Minister for Power, Energy and Mineral Resources Iqbal Hasan Mahmud Tuku held a meeting with Liquefied Petroleum Gas (LPG) importers on Saturday to address the ongoing supply crisis and allegations of selling cylinders at rates higher than government-fixed prices. Commerce Minister Khandoker Abdul Muktadir was also present at the meeting held at the Bangladesh Secretariat in Dhaka. The meeting was confirmed in a press release issued by the Ministry of Power, Energy and Mineral Resources. However, the release did not detail the decisions taken during the discussion. The high-level meeting comes amid widespread consumer complaints regarding the unavailability of LPG cylinders across various regions of the country. In many areas, 12-kilogram cylinders are reportedly being sold for Tk 600 to Tk 1000 above the government-set rate. Although the Bangladesh Energy Regulatory Commission (BERC) fixed the price of a 12-kg LPG cylinder at Tk 1,585 for September, consumers in several places are being forced to purchase them for Tk 2200 to Tk2600 or more. Earlier on September 28, importers had assured government officials during a meeting with LPG operators that import volumes were adequate to meet national demand. Despite these assurances, allegations of artificial supply shortages and market overcharging have persisted. Conflicting claims have also surfaced regarding recent import statistics. One report indicated that LPG imports dropped from nearly 160,000 tonnes in August to around 120,000 tonnes in September. Importers attributed this decline to international shipping disruptions, vessel shortages, and rising freight charges. Conversely, a group of LPG operators submitted a letter to the Energy Division on October 1 claiming that September import volumes remained close to August levels. They alleged that certain importers deliberately delayed releasing imported LPG cargoes to create artificial pressure on the market, demanding an independent inquiry into the matter. Amid the worsening situation, the Energy Minister instructed District Commissioners (DCs) on September 30 to investigate whether an artificial crisis was being engineered to inflate prices. He ordered strict action against those involved in creating artificial shortages or selling above government rates, while directing measures to boost supply where genuine shortages exist.

The Bangladesh Restaurant Owners Association has urged the government to allow limited beef imports to meet sector demand, ensure food security, and stabilize the domestic market amid surging prices. The organization claimed that beef prices in local markets have climbed beyond the reach of average consumers due to a significant supply shortage relative to demand. The demand was raised at a press conference held at a hotel in Purana Paltan on Saturday, where the association’s Secretary General, Imran Hassan, read out a written statement. Addressing the media, Imran Hassan stated that maintaining an uninterrupted supply of high-quality beef has become a major challenge for urban restaurants. He noted that beef is currently retailing between Tk 800 and Tk 1,000 per kilogram, making it unaffordable for ordinary citizens while supply remains inadequate. He also raised concerns regarding the shift of cattle farming into corporate hands, which he said is pushing marginal farmers out of business. Furthermore, he alleged that market syndicates have inflated animal feed prices, severely impacting rural livestock rearing and pushing small-scale farming near closure in many regions. Reading out the written statement, Association Secretary General Imran Hassan stated that along with price hikes across nearly all essential food items—including rice, pulses, edible oil, meat, fish, spices, vegetables, and eggs—operational costs involving gas, electricity, LPG, water, rent, transportation, and labor have also escalated significantly. He added that despite soaring inflation, most restaurants are unable to adjust menu prices for fear of losing customers. Consequently, overall sales across the restaurant sector have plummeted by up to 30 percent. To address the situation, the association urged the government to allow beef imports under strict oversight and specific guidelines. They argued that such a step would stabilize supply, help control prices, improve food quality, and boost the country’s tourism and hospitality sectors. Association leaders added that increasing beef availability would alleviate the current crisis in the restaurant industry, where elevated meat prices have forced businesses to bear heavy operational costs, ultimately driving up menu prices for customers. Earlier in May, the Bangladesh Restaurant Owners Association had raised a similar demand, citing high local market prices and supply shortages. Association President Shah Sultan Khokon, First Joint Secretary General Md. Firoz Alam Sumon, Organizing Secretary Toufiqur Islam, and Joint Organizing Secretary Kamrul Hasan Bipu, among others, were present at the press conference.

Textile and Jute Minister Khandakar Abdul Muktadir Saturday said the government is working to convert raw jute into the highest possible value-added products to increase foreign exchange earnings and revenue. "It is also promoting promising sectors beyond readymade garments (RMG), including silk, handloom and jute goods," Muktadir made the remarks while addressing the inauguration of a six-day "Multipurpose Jute Products Fair" and a new sales outlet, "JDPC EXPRESS," as chief guest on  Jute Diversification Promotion Centre (JDPC) premises in Tejgaon.  A permanent showroom is being launched at JDPC to promote these products and expand their market, he said. The government aims to attract local buyers through fairs and exhibitions while raising awareness of these products among foreign buyers, he added. The minister said the products include both machine-made and a large number of handmade items, the latter mostly coming to market as cottage and small industry output. Replying to a question on diversification and export expansion of jute goods, Muktadir said a plan is being drawn up in coordination with JDPC and private-sector entrepreneurs' associations. There is no value addition in exporting raw jute, but its value can be multiplied by gradually converting it into high-value products such as sliver, packaging materials and blended fibre, he said, expressing optimism. "At the peak of the market last year, raw jute was priced at around Tk 1.5 lakh, or about $1,200, per tonne," the minister said. He said the same quantity of jute could fetch around $2,400-$2,500 if converted into packaging products. Blended fibre products made by mixing jute with cotton or other fibres could earn around $4,000-$5,000 per tonne, he added. The government's goal is to convert the largest possible share of the country's jute output into value-added products, Muktadir said. “Work is under way in coordination with relevant institutions and entrepreneurs to determine how much jute can be used in which sectors and for what kinds of products.”  He expressed hope that this would allow the maximum foreign exchange and revenue to be earned from jute. State Minister for Textiles and Jute Shariful Alam said the fair aims to promote local products in the domestic market, expand the use of eco-friendly goods and discourage the use of polythene. The government is also working to make the country's GI products, multipurpose jute goods, Rajshahi silk, handloom and other textile products better known and more widely used, he said. "The golden fibre jute was once tied to the country's pride and people's emotions, but much of that heritage has been lost over time," he said. Such fairs are being organised as part of efforts to increase jute production, expand the use of diversified jute products, create markets at home and abroad, and turn the fibre into more value-added products, he added. "JDPC organises such fairs at various places across the country every year." Shariful Alam said "JDPC EXPRESS" will operate as a permanent sales and display centre, offering diversified jute products along with handloom and silk items. There are plans to set up similar showrooms at other important locations in the future. He also said there are plans to set up showrooms or display centres for local products at international airports and at Bangladesh missions abroad. To raise awareness and use of these products at home and abroad, they need to be effectively promoted in the international market, he said. "With the cooperation of entrepreneurs and the media, the government wants to showcase local products more widely in the global market." The six-day fair will run from October 3 to 8, daily from 10am to 8pm. The new outlet, "JDPC EXPRESS," will remain open seven days a week from 11am to 8pm.

Commerce Minister Khandakar Abdul Muktadir Saturday expressed displeasure over the abnormal rise in malta prices and asked traders how the fruit is retailing at Tk 520 per kg even after accounting for import cost, duties and taxes. "There will be no scope for unjustified price hikes in the market," the minister said at a meeting with traders and representatives of government agencies at the Ministry of Commerce conference room. He urged importers to open letters of credit (LCs) quickly and raise imports of malta, dates and other fruits to keep prices under control. He directed the Directorate of National Consumer Rights Protection to take action if evidence of selling malta at abnormal prices is found. Traders said a supply shortfall is one of the main reasons behind the price rise, claiming only 12 to 29 containers of malta arrived in the country in some weeks, against a normal daily requirement of about 15 containers. Importers also said many traders have cut malta imports because of high duties, transport costs, shipping and port complications, and losses on earlier consignments. They added that the perishable nature of the fruit carries significant financial risk during transport and storage. After hearing the traders, the minister assured them that the duty issue on malta would be reviewed. He also stressed increasing imports from alternative sources and opening LCs fast to raise market supply within the next few weeks. He also urged traders to start preparing now to import dates in view of the coming demand, saying the government would announce its decision on date duties within this week. The government has also moved to resolve the long-standing complications in fixing the assessment value of dates. The Bangladesh Trade and Tariff Commission will meet importers in the next few days. The commission will verify international source prices of dates of different qualities and grades and work to set a rational indicative price. A proposal will then be sent to the National Board of Revenue (NBR). The minister said the valuation system must ensure traders are not subjected to unreasonable assessments, while leaving no scope for evading revenue by under-declaring product values. Calling on both the government and traders to work with transparency and integrity, he said any attempt at manipulation by either side creates a crisis of confidence in the entire system. An NBR representative said that although the actual purchase prices of dates vary by quality and grade, the differences are not always properly reflected in customs valuation. The meeting therefore discussed taking international market prices and source prices into account for realistic valuation. Date importers said shipments are taking longer to reach Bangladesh than before due to international transport and port complications, so a quick decision on duties is needed to ensure timely imports of adequate quantities. Traders assured the meeting they would increase imports of malta and other foreign fruits from alternative sources. The government side said it would review the genuine problems related to duties and taxes, valuation and the import process.

Asian shares traded mixed Friday as a global sell-off in government bonds intensified and investors awaited the release of the latest US jobs report. Oil prices were largely steady as the US sent another aircraft carrier and additional troops to the Middle East, while President Donald Trump warned of possible further escalation with Iran. Japan's Nikkei 225 fell 0.9% to 68,326.72, while South Korea's Kospi gained 0.2% to 6,984.96. Hong Kong's Hang Seng dropped 2.7% to 23,956.32, its lowest level since July. Australia's S&P/ASX 200 rose 0.4% to 8,651.30, while Taiwan's Taiex gained 0.2%. Mainland Chinese markets were closed for a holiday. US futures edged higher after Treasury yields steadied early Friday. The yield on the 10-year US Treasury stood at about 5.25%, after climbing to 5.34% Thursday, its highest level since 2002. It crossed 5% last month as investors demanded higher returns amid inflation concerns linked to the global energy shock from the Iran war and rising US government debt. David Clewell, a portfolio manager at T. Rowe Price, described the 5% yield level as an “important psychological threshold” for investors. Clewell said strong US economic growth could create a “credible” possibility of the 10-year Treasury yield rising toward 5.5% to 6%. Higher bond yields can put pressure on stock markets by increasing borrowing costs and reducing the relative appeal of stocks. European benchmark stock indexes fell sharply Thursday as government bond yields climbed. On Wall Street, the S&P 500 gained 0.2%, the Dow Jones Industrial Average rose less than 0.1% and the Nasdaq composite added less than 0.1%. Investors were closely watching the September US jobs report due Friday for clues about the Federal Reserve's interest-rate policy. The report could provide further indications about the possibility of an October rate hike after the Fed raised rates in September for the first time in three years. Oil prices edged lower early Friday as uncertainty continued over the Middle East and the possibility of easing tensions between the US and Iran. A US official said Thursday that the US military was sending thousands of additional troops to the Middle East aboard a group of ships that includes a third aircraft carrier. The move came after Trump said Wednesday that the US could “blow them up” or reach a deal, referring to Iran. Brent crude, the international benchmark, fell 0.2% to $102.13 a barrel after rising Thursday. The price remains well above the roughly $72-per-barrel level recorded in late February before the war. The US dollar fell to 157.91 Japanese yen from 158.09 yen. The euro rose to $1.1250 from $1.1244.

Bangladesh’s merchandise export earnings grew 6.34 percent to US$ 13.094 billion in the first quarter (July–September) of the current fiscal year (FY 2026–27), according to the latest data released by the Export Promotion Bureau (EPB). During the corresponding period of FY 2025–26, export earnings stood at $ 12.313 billion. In September 2026 alone, single-month export earnings rose 8.54 percent year-on-year to $3.937 billion, up from $3.627 billion in September 2025. The ready-made garments (RMG) sector, the major driver of the country’s export earnings, maintained its leading role, earning $10.578 billion during the July–September period, marking a 6.10 percent growth over $ 9.970 billion earned in the same period of the previous fiscal year. In September, RMG exports registered an 8.56 percent growth, reaching $ 3.082 billion, up from $2.839 billion in September 2025. Within the RMG sector, knitwear exports grew by 6.88 percent to $ 5.963 billion during the first quarter, while woven garment exports increased by 5.11 percent to $ 4.614 billion. In September, knitwear and woven exports achieved year-on-year growth of 8.58 percent and 8.54 percent, respectively. Several non-RMG sectors also exhibited strong momentum. The pharmaceutical sector recorded a remarkable 40.39 percent cumulative growth, achieving a notable 64.33 percent year-on-year growth in September. Jute and jute goods exports posted a cumulative growth of 31.55 percent (and 22.72 percent in September), while leather and leather products grew by 14.74 percent cumulatively (and 20.19 percent in September). Light engineering posted a 16.51 percent cumulative growth, and home textiles grew by 11.94 percent during the quarter. However, agricultural products as well as frozen and live fish experienced negative growth during the three months. Among destination countries, the United States remained Bangladesh’s largest single export market, importing goods worth $ 2.591 billion during the July–September period, up 11.34 percent from $ 2.327 billion during the same period last year. The United Kingdom ranked second with imports of $1.370 billion, followed by Germany in third place with $ 1.218 billion. India and Japan ranked sixth and ninth among major export destinations, respectively, both maintaining positive growth. Among emerging markets, Türkiye posted the highest growth among major destinations, with exports doubling by 100.11 percent from $105.21 million to $ 210.54 million during the July–September period. The latest export performance reflects the resilience of Bangladesh’s export sector, the sustained confidence of international buyers, and the collective efforts of exporters, workers, entrepreneurs, and stakeholders, said a respected official of EPB. The EPB remains committed to supporting export diversification, market expansion, product upgrading, and trade facilitation initiatives to sustain export growth and achieve the country’s long-term export objectives, he pointed out.

Bangladesh’s merchandise export earnings grew 6.34 percent to US$ 13.094 billion in the first quarter (July-September) of the current fiscal year 2026-27, according to the latest data released by the Export Promotion Bureau (EPB). During the corresponding period of FY26, export earnings stood at $ 12.313 billion. In September 2026 alone, single-month export earnings rose 8.54 percent year-on-year to $3.937 billion, up from $3.627 billion in September 2025. The ready-made garment (RMG) sector, the major driver of the country’s export earnings, maintained its leading role, earning $10.578 billion during the July-September period, marking a 6.10 percent growth over $ 9.970 billion earned in the same period of the previous fiscal year. In September, RMG exports registered an 8.56 percent growth, reaching $ 3.082 billion, up from $2.839 billion in September 2025. Within the RMG sector, knitwear exports grew by 6.88 percent to $ 5.963 billion during the first quarter, while woven garment exports increased by 5.11 percent to $ 4.614 billion. In September, knitwear and woven exports achieved year-on-year growth of 8.58 percent and 8.54 percent, respectively. Several non-RMG sectors also exhibited strong momentum. The pharmaceutical sector recorded a remarkable 40.39 percent cumulative growth, achieving a notable 64.33 percent year-on-year growth in September. Jute and jute goods exports posted a cumulative growth of 31.55 percent (and 22.72 percent in September), while leather and leather products grew by 14.74 percent cumulatively (and 20.19 percent in September). Light engineering posted a 16.51 percent cumulative growth, and home textiles grew by 11.94 percent during the quarter. However, agricultural products as well as frozen and live fish experienced negative growth during the three months. Among destination countries, the United States remained Bangladesh’s largest single export market, importing goods worth $ 2.591 billion during the July–September period, up 11.34 percent from $ 2.327 billion during the same period last year. The United Kingdom ranked second with imports of $1.370 billion, followed by Germany with $ 1.218 billion. India and Japan ranked sixth and ninth among major export destinations, respectively, both maintaining positive growth. Among emerging markets, Türkiye posted the highest growth among major destinations, with exports rising by 100.11 percent from $105.21 million to $ 210.54 million during the July-September period. The latest export performance reflects the resilience of Bangladesh’s export sector, the sustained confidence of international buyers, and the collective efforts of exporters, workers, entrepreneurs, and stakeholders, said an EPB official. The EPB remains committed to supporting export diversification, market expansion, product upgrading, and trade facilitation initiatives to sustain export growth and achieve the country’s long-term export objectives, he pointed out.

Customers can now win a 43-inch smart television every day by paying utility bills through bKash. Throughout the first half of October, every day a customer will be awarded the prize for highest amount of bill payment. Additionally, the first customer to settle a bill every minute between 10:00 am and 6:00 pm daily will receive cashback. Customers paying electricity, gas, water, internet, and TV bills are eligible to win these prizes in the campaign running from October 1 to October 15, 2026. Daily smart TV winners will each receive a coupon worth Tk 45,000. A customer will be eligible for this prize only once during the campaign period. Furthermore, during the campaign period from 10:00 am to 6:00 pm, the first user to pay a utility bill in every minute can receive up to 50% cashback, maximum of Tk 100. In total, 480 customers can avail this cashback daily by paying electricity, gas, water, internet, and TV bills through bKash. Details about the offer are available at this link - https://www.bkash.com/en/campaign/UBPmega2026. At present, almost all essential utility bills including electricity, gas, water, internet, telephone, TV, educational institutions, credit cards, and government fees can be paid conveniently through bKash. Customers can also download and save an eco-friendly digital receipt after completing their bill payments.

Commerce Minister Khandakar Abdul Muktadir on Thursday stressed reducing administrative complexities and streamlining government services to make business operations and investment activities easier, faster and more efficient in Bangladesh. The minister made the remarks at a meeting on business process simplification held at the conference room of the Ministry of Commerce at the Secretariat. Officials from the Registrar of Joint Stock Companies and Firms (RJSC) and Invest Bangladesh Authority (IBA) attended the meeting, chaired by the commerce minister. Commerce Secretary Md Ataur Rahman Khan was also present. The meeting reviewed existing procedures for business registration, obtaining necessary approvals and accessing related government services. Discussions focused on eliminating unnecessary steps, reducing processing time and ensuring simpler, faster and more effective services for entrepreneurs and investors. The commerce minister said reducing unnecessary administrative hurdles and delays in doing business would encourage the creation of new entrepreneurs and attract both domestic and foreign investment. He stressed the need to strengthen coordination among relevant government offices and agencies while making service delivery simpler and more user-friendly. Muktadir also underscored the importance of gradually bringing business- and investment-related services under integrated digital systems to ensure greater transparency, efficiency and accountability. The meeting also discussed the ongoing initiatives of relevant agencies, existing obstacles to business process simplification and possible measures to improve service delivery. Senior officials of the Ministry of Commerce, Business Bangladesh and the relevant agencies attended the meeting.

The Insurance Development and Regulatory Authority (IDRA) is set to disburse Tk 26.37 crore to 7,641 policyholders in the third phase of its ongoing drive to settle long-pending legitimate insurance claims. The disbursement will take place on October 4, benefiting policyholders across six life insurance companies, IDRA announced on Thursday. According to IDRA, the continuous initiative aims to rebuild public trust in the insurance sector, settle valid claims, and safeguard policyholders' fair rights. Among the institutions, policyholders of Padma Islami Life Insurance will receive the highest payout, with Tk 9 crore to be disbursed among 2,348 customers. Progressive Life Insurance will pay Tk 6.78 crore to 2,140 clients, Sunlife Insurance will disburse Tk 5.35 crore among 1,573 policyholders, and Homeland Life Insurance will settle claims worth Tk 4,87,97,638 for 1,381 customers. Additionally, Sunflower Life Insurance will pay Tk 30 lakh to 165 clients, while Baira Life Insurance will disburse Tk 5,81,892 among 34 policyholders. In two previous phases, IDRA settled claims worth Tk 37.54 crore for 8,417 policyholders. In the first phase on September 3, Tk 14.51 crore was paid to 2,549 policyholders, followed by Tk 23.03 crore disbursed among 5,868 clients in the second phase on September 14. Upon completion of the third phase, a total of 16,058 policyholders will have received Tk 63.91 crore across the three phases. IDRA officials stated that the initiative is part of ongoing reform efforts led by IDRA Chairman Mir Nadia Nivin to resolve the trust deficit caused by prolonged non-payment of insurance claims. The regulator reaffirmed that this initiative will play a key role in establishing good governance, transparency, and accountability in the sector while ensuring the protection of policyholders' interests.