United News of Bangladesh

New Zealand is keen to provide technical and strategic support for Bangladesh's economic and industrial development, provided Dhaka outlines specific sectors where it requires assistance, Non-resident High Commissioner David Pine said on Thursday. "If Bangladesh outlines the specific areas where it expects cooperation from New Zealand with a detailed blueprint, we will positively move forward with an effective partnership," High Commissioner Pine said during a bilateral meeting with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Mahmud Hasan Khan. The meeting, held at the BGMEA office in Uttara on Thursday morning, focused heavily on boosting bilateral trade, uncovering new investment avenues, and strengthening long-term strategic cooperation between the two nations. Welcoming the envoy's proposal, BGMEA President Mahmud Hasan Khan highlighted the association's ambitious roadmap to scale up global apparel exports to $100 billion by 2035. "To achieve this goal and mitigate global geopolitical risks, BGMEA is putting special emphasis on non-traditional and high-potential markets like New Zealand," Khan said. Currently, Bangladesh faces a trade deficit of approximately $300 million with New Zealand. According to data from the 2024-25 fiscal year, Bangladesh exported goods worth around $100 million to New Zealand, with ready-made garments (RMG) accounting for 94 percent of those shipments. Both sides agreed to work jointly to narrow this gap and explore untapped trade potentials. The BGMEA chief noted that the current board is working to diversify both markets and products in line with the government's long-term planning. Beyond RMG, the association is pushing for the expansion of textiles, footwear, pharmaceuticals, and furniture industries—sectors where New Zealand’s technical partnership could play a pivotal role. The High Commissioner expressed his agreement on this front. During the talks on the sustainable transformation of the RMG sector, renewable energy integration came to the fore, with the BGMEA president seeking advanced technical support from New Zealand. The discussion also touched upon the deferral of Bangladesh's Least Developed Country (LDC) graduation. When the High Commissioner inquired about Bangladesh's readiness, the BGMEA chief replied that the current business-friendly government is actively working alongside traders toward this goal. He emphasized the urgent need for Bangladesh to sign Free Trade Agreements (FTAs) with various nations in the interim. Furthermore, the BGMEA president sought the New Zealand government's sincere support and cooperation in deferring the LDC graduation by three years. Enhancing the visibility of Bangladeshi apparel brands in the New Zealand market was another key agenda item. Since many top global brands do not operate directly in New Zealand, the BGMEA side inquired about establishing direct links with local buyers and retailers. In response, High Commissioner Pine advised Bangladeshi entrepreneurs to participate in international expos and trade fairs hosted in New Zealand. He assured that the High Commission would provide full assistance if a business delegation from Bangladesh visits New Zealand. The envoy also responded positively to a proposal for promoting Bangladesh’s homegrown brands in the New Zealand market. Senior leaders of BGMEA and high-ranking officials from the New Zealand High Commission were present at the meeting.

Power distribution companies on Thursday proposed revisions to retail electricity tariffs before the Bangladesh Energy Regulatory Commission (BERC), with estimated distribution costs ranging from Tk 0.85 to Tk 2.05 per unit for the 2025–26 fiscal year. The proposals were placed on the final day of a two-day public hearing at the Krishibid Institution Bangladesh auditorium in Dhaka, chaired by BERC Chairman Jalal Ahmed. The Bangladesh Power Development Board (BPDB), Bangladesh Rural Electrification Board (BREB), Dhaka Power Distribution Company (DPDC), Dhaka Electric Supply Company (DESCO), West Zone Power Distribution Company (WZPDCL), and Northern Electricity Supply Company (NESCO)submitted separate proposals for retail tariff revisions. According to the submissions, BPDB proposed a distribution cost of Tk 0.85 per unit, BREB Tk 1.77, DPDC Tk 1.54, DESCO Tk 1.98, WZPDCL Tk 1.39, and NESCO Tk 2.05 per unit. However, BERC’s technical evaluation committee recommended lower cost estimates, saying the weighted average net distribution cost of the six utilities would be Tk 1.25 per unit. The committee estimated BPDB’s net distribution cost at Tk 0.75 per unit, BREB’s at Tk 1.39, DPDC’s at Tk 1.18, DESCO’s at Tk 1.16, WZPDCL’s at Tk 1.33, and NESCO’s at Tk 1.43. It said the combined net distribution cost for FY2025–26 would stand at Tk 11,927 crore against projected electricity sales of 95,613 million units. According to the committee, the six utilities together served more than 49.8 million consumers as of March 2026, including over 42.5 million residential users and nearly 28 million lifeline consumers. BREB alone accounted for more than 39.1 million customers. The technical committee also made several recommendations, including conducting an independent regulatory impact assessment before reducing the approved load limit for low-tension consumers from 80 kilowatts to 50 kilowatts. It further recommended that private educational institutions, hospitals and medical colleges should not be categorised as commercial consumers for tariff purposes. The committee also advised utilities not to determine excess load for non-demand meter consumers solely based on electricity consumption patterns, suggesting periodic load measurements and gradual introduction of demand meters instead. In addition, it proposed consideration of a flat residential tariff for slum-area consumers and measures to prevent commercial charging of auto-rickshaws through residential electricity connections. During the hearing, consumer rights activists, academics and business representatives strongly opposed any fresh increase in electricity prices, blaming inefficiency, system losses, inflated project costs and capacity payments for the sector’s financial burden. Daffodil International University teacher Syed Mizanur Rahman criticised the inclusion of rate of return and corporate taxes in electricity pricing, saying monopoly public services should operate ona cost-to-cost basis instead of a profit-oriented model. Former Communist Party of Bangladesh general secretary Ruhin Hossain Prince called for reducing electricity prices instead of increasing them and proposed free electricity for poor consumers using up to 75 units monthly. Speakers also urged the government to reassess contracts with independent power producers and rental power plants, citing excessive capacity charges as a major burden. At the end of the hearing, BERC Chairman Jalal Ahmed said all opinions and documents submitted during the hearing would be reviewed before a final decision is taken. He invited stakeholders to submit further written observations by May 23. He also warned that future power, gas and oil sector projects involving financial liabilities must obtain BERC’s opinion before being sent to the Planning Commission, adding that rising capacity payments had become “harmful for the nation.”

Bangladesh Securities and Exchange Commission (BSEC) on Thursday organised a free preliminary investment education workshop exclusively for women investors, continuing its series of financial literacy programmes aimed at encouraging greater female participation in the country's capital market. The daylong workshop was held at the Multi-Purpose Hall of the BSEC headquarters. A total of 35 women comprising investors and prospective investors attended the session. BSEC Commissioner Farzana Lalarukh inaugurated the training programme and underscored the critical importance of women's financial awareness. "It is very important that women, whether students, homemakers, or working professionals have a basic understanding of investment. Whoever understands and invests wisely will benefit. By making knowledge-based decisions and ignoring market rumours, one can invest their savings profitably," Farzana said. The workshop covered three core areas: Fundamental Financial Literacy, Investment Risk, and Investor's Protection, as well as Financial Planning. Participants received hands-on guidance aimed at equipping them to make informed, evidence-based decisions in the stock market. At the conclusion of the programme, certificates were distributed among all participants. The closing remarks and certificate distribution were presided over by BSEC Commissioner Md. Saifuddin. The event was organised by BSEC's Training Department under its Financial Literacy Division, as part of the commission's ongoing efforts to widen investor education and strengthen market confidence among women across the country.

The Bangladesh Securities and Exchange Commission (BSEC) has imposed a total fine of Tk 2 crore 83 lakh on directors, managing directors, and senior officers of three listed companies for securities law violations, according to a press release issued on Thursday. The decisions were taken at the 1014th Commission meeting held on May 19, chaired by BSEC Chairman Khondoker Rasheed Maqsood. In the first case, the Commission fined a total of Tk 1 crore 40 lakh on seven directors and officers of Khan Brothers PP Woven Bag Industries Limited for providing false information in audited financial statements for the fiscal year ended June 30, 2023, in violation of securities laws. Among those penalised, Chairman Mohammed Enamul Kabir Khan, Managing Director Tofayel Kabir Khan, and three directors: Md. Ruhul Kabir Khan, Hazrat Ali, and Jarin Kabir Khan were each fined Tk 25 lakh. Chief Financial Officer Md. Azizul Zabber was fined Tk 10 lakh, while Company Secretary Tapan Kumar Sarker was fined Tk 5 lakh. The fines are to be treated as personal liabilities of the penalised individuals. In the second case, the Commission fined a total of Tk 8 lakh, Tk 1 lakh each on eight directors and current board members of Genex Infosys PLC for failing to pay a declared 3 percent cash dividend for the fiscal year ended June 30, 2024, within the stipulated timeframe, in violation of securities laws and regulations. Those fined include Chairman Mohammed Adnan Imam, Acting Managing Director ShahJalal Uddin, four directors including Chowdhury Fazle Imam, Prince Mojumder, Oracle Services PLC, and Nilofar Imam, along with the then-CFO and then-Company Secretary. In the third case, the Commission imposed fines totalling Tk 1 crore 35 lakh on seven directors and officials of Aftab Automobiles Ltd for failing to repay Tk 1,16,81,649.67 in outstanding cash dividends for the fiscal year ended June 30, 2024, out of a total declared dividend of Tk 7,85,95,464.68. Chairman Shafiul Islam and Managing Director Saiful Islam were each fined Tk 30 lakh, while Director Khaleda Islam, Director Sajedul Islam, and Director Farhana Islam were each fined Tk 20 lakh. The then-CFO was fined Tk 10 lakh and the then-Company Secretary Tk 5 lakh. The Commission also ordered the company to pay the outstanding dividend within 30 days of the order. In case of further default, an additional fine of Tk 10,000 per day will be imposed, and the company will not be absolved of its liability to pay the remaining dividends to investors. Separately, the Commission approved the appointment of focal point and deputy focal point officers at BSEC to coordinate a nationwide investment education and safe investment awareness campaign.

Bangladesh’s state-owned enterprises (SOEs) have drained nearly Tk 882 billion from the national exchequer in a single year, emerging as one of the country’s biggest fiscal risks, according to a World Bank study.  The study highlighted that the deteriorating financial condition of public enterprises has become “unsustainable” at a time when Bangladesh is already facing falling revenue collection, slower economic growth and mounting pressure on public finances. It said the growing losses of SOEs are consuming resources that could otherwise be invested in healthcare, education and social protection.  The findings were presented at a dissemination workshop on the report titled “Financial Performance and Fiscal Risk of SOEs in Bangladesh” held at a city hotel on Thursday. The study was conducted under the “Strengthening Public Financial Management for Better Service” programme, with support from the Policy Research Institute of Bangladesh (PRI). According to the study, non-financial SOEs incurred a combined adjusted loss of Tk 441 billion in fiscal year 2023-24, while total net fiscal transfers from the government, including subsidies and development funding, climbed to around Tk 882 billion, equivalent to 1.7 percent of GDP.  The study found that the energy and power sector accounted for the overwhelming majority of the losses. The Bangladesh Power Development Board alone recorded losses exceeding Tk 444 billion in FY24 due to high power generation costs, costly capacity payments to private power producers and electricity tariffs that are kept below production costs.  The report said politically influenced investment decisions, controversial contracts with independent power producers and weak corporate governance have severely undermined the sector’s financial sustainability. Other major loss-making entities include the Bangladesh Oil, Gas and Mineral Corporation, Bangladesh Rural Electrification Board, Trading Corporation of Bangladesh and several manufacturing corporations in the fertiliser, sugar and jute sectors. The report observed that many manufacturing SOEs continue to incur persistent losses despite operating in competitive markets where private firms remain profitable.  The report also highlighted deep corporate governance weaknesses within Bangladesh’s SOE structure. It identified fragmented laws, bureaucratic control, weak oversight and lack of financial transparency as key reasons behind poor performance.  The report compared Bangladesh unfavourably with regional peers. While Bangladesh’s SOEs posted a negative return on assets of 5.2 percent in FY24, India’s SOEs generated a positive return of 9.7 percent and Vietnam’s recorded around 11.9 percent in recent years. According to the study, Bangladesh could potentially mobilise more than Tk 1.2 trillion in additional fiscal resources if SOEs achieve a 10 percent return on assets and reduce their dependence on subsidies.  To address the crisis, the report recommended wide-ranging reforms, including restructuring commercially viable SOEs, introducing independent and professionally managed boards, strengthening financial disclosure requirements, reducing political interference and gradually opening monopoly sectors to competition. It also suggested eventual privatisation or closure of chronically loss-making enterprises that no longer serve strategic national purposes.  Tanvir Ghani, Special Assistant to the Prime Minister on Investment and Capital Market Affairs, attended the workshop as a special guest. WB Lead Governance Specialist Suraiya Zannath explained the context and objectives of the study and how the analysis will help framing policy and institutional reform. Additional Secretary of the Finance Division Hasan Khaled Foisal made a presentation on the overview of SOEs, debt management and the macro-fiscal scenario, while Additional Secretary Rahima Begum made the opening presentation highlighting the Public Financial Management Reform Strategy 2025-2030 relating to SOEs. WB Lead Public Sector Specialist Henri Fortin discussed international experiences of SOE reform and its Senior Governance Specialist Immanuel Frank Steinhilper presented global trends relating to SOEs. PRI Executive Director Dr Khurshid Alam made the keynote presentation on the financial performance and fiscal risks of Bangladesh’s SOEs.  

Yeijer Shoe Parts (BD) Ltd, a company based in Samoa-China (Taiwan), has signed a land lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to set up a footwear and footwear accessories manufacturing facility at Cumilla Export Processing Zone (EPZ). The company will invest US$ 5.03 million for the production of insoles, outsoles, midsoles, and polyurethane (PU) shoes. The agreement was signed on May 20 at the BEPZA Complex in Dhaka. Md Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, signed the agreement on behalf of BEPZA, while Xia Ruihong, Managing Director of Yeijer Shoe Parts, signed on behalf of the investing company. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony. As per the agreement, the company will produce 3 million pairs of insoles, 1.2 million pairs of outsoles, and 3.2 million pairs of midsoles and 1 million pairs of PU shoes annually. The company is expected to create employment opportunities for 500 Bangladeshi nationals. BEPZA Executive Chairman welcomed Yeijer Shoe Parts and assured full support from BEPZA to facilitate smooth and successful business operations within the zone. He also emphasised that BEPZA continues to extend comprehensive support to attract diversified investment beyond the RMG sector.

Bangladesh's macroeconomy remains deeply fragile, battered by a Fitch rating downgrade, stubbornly high inflation, record low private credit growth, and a looming fiscal shortfall, the Policy Research Institute of Bangladesh (PRI) warned on Thursday, calling for sweeping productivity-enhancing reforms ahead of the national budget for fiscal year 2026-27. Dr Ashikur Rahman, Principal Economist of PRI, revealed the grim picture of the economy while making the keynote presentation at an event to launch the institute's Monthly Macroeconomic Insights titled “Restoring Growth through Productivity Reforms: Pre-Budget Priorities” at the PRI conference room at Banani. In a fresh blow to investor confidence, Fitch Ratings has revised Bangladesh’s long-term sovereign outlook to “Negative” from “Stable”, while affirming the rating at “B+”, according to the report. The agency cited rising external vulnerabilities from Middle East exposure, weak reserves, persistently low revenue at around 7.9 percent of GDP, elevated inflation near 9 percent, banking sector fragility with NPLs above 30 percent, and stalled institutional reforms. BERC Hearing: Stakeholders reject BPDB proposal to hike bulk power prices by up to Tk 1.50 per unit According to the PRI, the GDP growth stood at 3.49 percent in FY25. For FY26, the International Monetary Fund projects a modest recovery to 4.7 percent, while the World Bank, Asian Development Bank, and Fitch estimate more conservative figures of 3.9 percent 4.0 percent, and 3.7 percent respectively, citing fuel price pressures, weak investment, and slowing exports. Private investment dropped to 22 percent of GDP in FY25, its weakest level in 11 years. Foreign Direct Investment, at just 0.3 percent of GDP, continues to lag far behind regional peers Vietnam, Indonesia, and India, it said. Inflation re-accelerated above 9 percent in April 2026, driven by higher transport costs and non-food price pressures linked to US-Iran geopolitical tensions. With the policy rate held at 10 percent, the real policy rate stands at only 0.96 percent, well below the Monetary Policy Committee's own target of 3 percent and among the lowest in South Asia, undermining the central bank's ability to anchor inflation expectations. The PRI further warned that recent measures by Bangladesh Bank, including special credit windows and relaxed single-borrower lending limits for large corporates, are effectively diluting monetary tightening and sending mixed policy signals. Private sector credit growth collapsed to a historic low of 4.72 percent in March 2026. Banks have increasingly shifted into government securities, with net borrowing via treasury bills reaching Tk 132 billion in April alone, a classic crowding-out dynamic squeezing productive lending. On the fiscal front, the revenue collection by the National Board of Revenue (NBR) reached Tk 3.3 trillion by April FY26, only 65 percent of the revised annual target. To meet the full-year goal, the NBR will need to collect an implausibly high Tk T 1.76 trillion in the final two months alone. Even under optimistic scenarios of 15-30 percent revenue growth in May-June, the projected shortfall ranges between Tk 782 billion and Tk 895 billion. Interest payments consumed 21.4 percent of total government expenditure in FY25, up sharply from 14.4 percent in FY10. Subsidies crossed Tk 1 trillion in FY25 and are projected to rise further to Tk 1.16 trillion in FY27, absorbing 12.5 percent of the total budget despite IMF pressure for rationalisation. ADP implementation remained chronically weak at 36.2 percent in July-March FY26. After eight consecutive months of decline, goods exports rebounded 33 percent year on year in April to nearly US$ 4 billion, a rare bright spot. However, cumulative exports in July-April FY26 remained 2 percent below the same period last year, weighed down by a 2.8 percent contraction in RMG shipments and persistent energy shortages.   Remittances stayed above $ 3 billion for the fifth consecutive month in April, reaching $ 3.13 billion, up 13.6 percent year on year. Forex reserves crossed $ 30 billion in April, providing roughly five months of import cover.   However, the PRI cautioned that rising global energy prices could erode these gains.   The PRI presentation laid out six productivity-enhancing reform pillars it considers essential for restoring growth: deregulation and investment climate improvement, energy sector reform, SOE restructuring and selective privatisation, trade policy reform and tariff rationalisation, proactive FDI promotion, and sustained investment in critical infrastructure.   On fiscal reform, the report called for raising the tax-to-GDP ratio to 15-20 percent over 10 years, targeting a 50:50 direct-to-indirect tax ratio by 2035, and capping the personal income tax marginal rate at 25 percent while reducing the corporate tax rate to 15 percent for qualifying firms.   “Sustainable growth will depend less on stimulus and more on productivity, investment, institutions, and efficient use of resources,” the presentation concluded.   The event was chaired by PRI Chairman Dr Zaidi Sattar. 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Business leaders and trade experts have emphasised that a secure and robust Intellectual Property Rights (IPR) framework is a strategic necessity for Bangladesh to attract Foreign Direct Investment (FDI) and maintain its position in the global supply chain after graduating from Least Developed Country (LDC) status. The observation was made at a breakfast meeting titled "Advancing the IPR Framework: The Way Forward" hosted by the American Chamber of Commerce in Bangladesh (AmCham) at a city hotel on Wednesday. The event brought together key stakeholders from public and private sectors, along with senior media professionals, to discuss the critical role of intellectual property protection in transforming the country's business ecosystem. Opening the discussion, AmCham President Syed Ershad Ahmed underscored the urgency of strict IPR enforcement for the nation's future economic stability. "A secure IPR framework is vital to attracting increased FDI, while giving global importers and brand promoters the absolute confidence to source high-quality products from Bangladesh," he asserted. Attending the event as a key speaker, Shilpi Jha, Senior Commercial Specialist and IP Policy Adviser (South Asia) at the US Embassy in New Delhi, highlighted that the new government in Bangladesh has a golden opportunity to modernise its intellectual property architecture to foster innovation. She specifically stressed that a strengthened IP framework would serve as a major catalyst for supporting domestic Micro, Small, and Medium Enterprises (MSMEs). Shilpi Jha pointed out significant gaps in current enforcement capacities and recommended mandatory, specialised training modules for customs and law enforcement officials. This training, she noted, is crucial to help officials accurately distinguish between patents, trademarks, copyrights, and geographical indications (GI) during field operations. During an open floor session, participants raised deep concerns regarding ongoing operational hurdles in IP protection. The interactive dialogue highlighted that combating counterfeiting and piracy effectively requires seamless, coordinated action across various state agencies, particularly in managing port-of-entry imports and updating archaic policy frameworks. The meeting concluded with a strong consensus that establishing an uncompromised, world-class IPR regime must be prioritised immediately if Bangladesh wishes to smoothly navigate its post-LDC transition and shield its export sectors from international legal challenges. AmCham Executive Committee members, including Treasurer Al-Mamun M Rashel and Mirza Sajib Raihan, alongside Paul Frost, Commercial Counselor at the US Embassy in Dhaka, other high-level embassy officials, prominent industry stakeholders, and Chowdhury Kaiser Mohammad Riyadh, Executive Director of AmCham also took part in the discussion.

Sunshine Outdoor (BD) Co Ltd, a British Virgin Island and Hong Kong-based company, is set to invest US$ 15 million to establish a tent & camping manufacturing industry at the BEPZA Economic Zone (BEPZA EZ) in Mirsharai, Chattogram. An agreement to this effect was signed on Wednesday at the BEPZA Complex, Dhaka, between the Bangladesh Export Processing Zones Authority (BEPZA) and the firm. The lease agreement was signed by Md Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, and Liang Difa, Chairman of Sunshine Outdoor.  BEPZA’s 45 years: The $125bn export powerhouse transforming Bangladesh’s economy BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony. The company will produce annually 1.5 million pieces of outdoor products like tent, canopy, bag, duffel bag, waterproof dry bags, and sleeping bag, backpack, tarpaulins, inflatable pillows and mattresses, air pillows, mosquito nets, carpets, mats, folding chairs, and different types of bins & baskets.  It is expected to create employment opportunities for 2,975 Bangladeshi nationals. The Executive Chairman of BEPZA thanked Sunshine Outdoor for choosing Bangladesh, particularly the BEPZA Economic Zone, as its investment destination and assured them of BEPZA’s seamless cooperation to ensure smooth and successful business operations in the zone. He emphasised that this investment will further accelerate BEPZA’s efforts towards export diversification. The ceremony was attended by Abdullah Al Mamun, Member (Engineering); Md Khorshid Alam, Executive Director (Enterprise Services); Samir Biswas, Executive Director (Administration); Khadiza Parvin, Executive Director- Additional Charge (Public Relations); along with senior officials of BEPZA and representatives of Sunshine Outdoor.

Dhaka Chamber of Commerce and Industry (DCCI) has urged New Zealand to expand its investment footprint in Bangladesh, particularly in agriculture, renewable energy, and ICT sectors, as both sides explore stronger bilateral trade and economic cooperation. The appeal came during a meeting in Dhaka between DCCI leaders and New Zealand’s Non-resident High Commissioner David Pine  at the DCCI Gulshan Center on Wednesday, said a press release. DCCI President Taskeen Ahmed highlighted New Zealand's strong global standing in dairy, dairy processing, advanced agriculture, and food safety, saying there is significant scope for the country to support Bangladesh through experience sharing in dairy processing, livestock feed production, dairy farm modernisation, improved cattle breed development, fisheries, and veterinary training. He urged New Zealand's private sector to come forward with both joint and independent investments in Bangladesh's agriculture, food processing, consumer goods, food supply chain management, water and climate management, and renewable energy sectors. The DCCI President also called on New Zealand entrepreneurs to increase imports of Bangladeshi readymade garments, leather goods, and ICT-enabled services to further strengthen bilateral trade ties. David Pine offered a significant reassurance to the Bangladesh business community, saying New Zealand will continue to provide duty-free and preferential market access for Bangladeshi goods even after the country graduates from the least developed country (LDC) status. “New Zealand has been giving special importance to ensuring market access for Bangladeshi goods after the graduation,” the High Commissioner said, signaling continuity in trade preferences beyond LDC transition. Pine also proposed exploring a Free Trade Agreement between the two countries to expand bilateral trade and investment opportunities further. He noted that in the current global context, diversifying export markets alone is not sufficient, countries must also diversify their import markets. He positioned New Zealand as a reliable, high-standard partner known for strict food safety measures and GMO-free products, expressing interest in establishing a stable, long-term trade framework with Bangladesh. DCCI Senior Vice President Razeev H. Chowdhury and Vice President Md. Salem Sulaiman were also present at the meeting.