United News of Bangladesh

The government has decided to procure 50,000 metric tonnes of non-basmati parboiled rice and 80,000 metric tonnes of fertiliser. The decision was taken at a meeting of Advisers Council Committee on Government Purchase on Monday (December 15, 2025) at the Secretariat with Finance Adviser Dr Salehuddin Ahmed in the chair. The Ministry of Food will procure 50,000 metric tonnes of rice at a cost of Tk 214.70 crore. India-based M/S Bagadiya Brothers Private Ltd has been selected as the supplier. Officials said the rice import would help maintain adequate public food stocks and contribute to stabilising prices in the domestic market. Govt happy with macroeconomic stability despite sectoral challenges: Salehuddin The purchase committee also recommended approval of two proposals placed by the Ministry of Industries to import a total of 80,000 metric tonnes of fertiliser from Saudi Arabia. Under the proposals, 40,000 metric tonnes of fertiliser will be imported as the 12th lot and another 40,000 metric tonnes as the 13th lot from SABIC Agri-Nutrients Company at a unit price of US$413.46 per metric tonne. The committee further recommended approval of a proposal to construct a fertiliser buffer warehouse in Naogaon with a capacity of 25,000 metric tonnes at an estimated cost of Tk 54.70 crore to improve storage and distribution. Another proposal to construct a fertiliser buffer warehouse in Bogura with a capacity of 20,000 metric tonnes at an estimated cost of Tk 59.28 crore was also recommended for approval. Officials said the fertiliser imports and storage facilities would help ensure uninterrupted supply during peak farming seasons. Safe, quality shrimp production must be prioritised: Adviser Farida In addition, the meeting recommended approval of several major infrastructure procurement proposals aimed at improving roads, bridges and local infrastructure across the country. Among them is a World Bank-supported project under the Local Government Engineering Department (LGED), with a contract value of Tk 363 crore. The committee also cleared multiple road development proposals under the Road Transport and Highways Division, including four-lane upgrading of regional highways in Cumilla, Lakshmipur and Noakhali, as well as the construction of the Rabnabad Bridge over the Rabnabad River in Patuakhali. Officials said the approved projects would enhance connectivity, improve logistics and support regional economic growth. Read more: Govt to procure 50,000 mt non-Basmati parboiled rice, 10,000 mt lentil

National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan on Tuesday (December 09, 2025) underscored the urgent need to expand the country’s VAT and income tax base to reduce reliance on import-based revenue, strengthen fiscal stability, and support Bangladesh’s development ambitions. “Development goals and essential public services cannot be delivered unless adequate revenue is mobilised,” he said at a “Meet the Press” event ahead of VAT Day and VAT Week held at the Revenue Building in the capital. He said Bangladesh’s progress and day-to-day administrative functions depend heavily on revenue collected by the state. Bangladesh relied overwhelmingly on import duties in the early years of independence, with nearly 90 percent of revenue collected at the import stage, he said. Read more: NBR to develop automated system linking return submission with banks: Chairman He said such a structure places the same tax burden on the rich and poor alike and is neither sustainable nor equitable. “Over time, VAT and income tax have emerged as the principal pillars of domestic resource mobilisation, with VAT alone contributing 38 percent of total revenue in the last fiscal year.” VAT collections grew by 22 percent in the July–November period, demonstrating significant potential for further expansion, said the NBR cheif. He expressed concern that only about 644,000 entities are registered for VAT, a figure far below the actual number of businesses operating across the country. “The authority aims to bring at least 100,000 new businesses under the VAT system during December.” He reiterated the need to establish a single VAT rate across the board and to enforce a fully functional input credit system at every stage of production and distribution. Read more: NBR uncovers Tk 9 crore revenue evasion by United Tobacco A unified rate, he said, would make automation easier and eliminate distortions that undermine fair competition. Khan highlighted a common misconception that businesses “pay” VAT. He said businesses merely collect VAT on behalf of the government, while the final burden ultimately falls on consumers. Distortions in compliance, he added, create an uneven playing field in the market. To ease compliance for small and cottage businesses, NBR is planning sector-specific VAT systems that will allow users to record receipts and payments and automatically generate VAT returns. Read more: How to Submit Zero Income Tax Return Online in Bangladesh He said NBR will bear all system development and maintenance costs, including hosting and cloud services, to support smaller businesses that cannot afford specialised software or consultants. Khan also emphasised ongoing efforts to modernise VAT and income tax audits. He said various intelligence units including VAT, customs, central, and tax intelligence agencies have strengthened their operations, allowing NBR to recover significant amounts of evaded revenue. Updated figures will be shared soon, he added. Khan acknowledged several challenges affecting revenue collection this year, including weak corporate tax receipts from the banking sector, reduced capital expenditure due to a contractionary budget, and slower implementation of development projects. Major business groups have also faced financial stress, he said. Read more: Railway exempted from submitting proof of income tax return filing Khan said Bangladesh’s tax-GDP ratio remains low, and more research is needed to identify why certain segments of the economy remain untaxed. As the country prepares for LDC graduation, import duties will inevitably decline due to global trade obligations, making a stronger domestic tax base essential, he added. He said the long-delayed, World Bank-funded automation project for NBR will soon begin, and the authority intends to automate all of its internal processes under the initiative. He highlighted the need to better utilise existing automated systems such as ASYCUDA World, which is used globally but has not been fully leveraged in Bangladesh. The NBR chairman also sought for cooperation from businesses and the media to help simplify tax laws, expand the tax base, strengthen compliance, and build a fairer and more efficient revenue system. Read more: LPG operators oppose govt’s VAT hike proposal

Minimum LC margin or LC zero margin has been allowed for importing essential commodities to meet consumption demands for next Ramadan, said Commerce Minister Tipu Munshi on Wednesday. But because of LC opening other businesses will not suffer, he said. Later, buyers can pay the dues of the commodities after 6 months as per the rules, he added. “Dollars are being supplied as per the market situation in terms of imports. However, for remittance payment the amount is not given less,” he said. The minister said the prices of pulses, oil and sugar, which need to be imported, have increased slightly following increase in the global market. Read more: E-commerce has a billion-dollar prospect in Bangladesh: Tipu Munshi But the prices of agricultural products in the country are low and may stay stable for the next two to three months, he added. He said the prices of imported goods have increased because of higher dollar rates. In line with the dollar rates the prices of those goods are being fixed. That’s why the inflation remained under control compared with other countries, he said. The minister said that the purchasing power of the people is limited. So, as long as it is necessary, one crore families will be provided with essential commodities at subsidized prices through TCB (Trading Corporation of Bangladesh). He said that Prime Minister Sheikh Hasina has asked all to be economic to check the cost of imports. About 40 percent electricity consumption of the country has been reduced through special initiatives. Currently, the difference between the import and export volume has narrowed. Dollars are being saved by reducing imports of luxury goods. On Tuesday, Bangladesh Bank has allowed 8 essential commodities “usance term” (credit for suppliers/buyers) to meet consumption demands for next Ramadan. Read more: LCs under scanner to check money laundering: Tipu Munshi The foreign exchange policy department of Bangladesh Bank on Tuesday issued a circular on 90-day credit facility for suppliers/buyers of these commodities with immediate effect. This facility will remain applicable for the initiation of imports till March 31, 2023. Traders got the opportunity to import edible oil, chickpeas, pulses, peas, onions, spices, sugar, and dates under 90 days of suppliers'/buyers' credit.

Prime Minister’s Private Industry and Investment Adviser Salman F Rahman has emphasized on diversification of exports and reducing imports to stabilize the currency's depreciating trend. He was speaking at a business luncheon meeting organized by Bangladesh-Malaysia Chamber of Commerce and Industry at a city hotel on Sunday. Salman said the austerity measures initiated by the government and the central bank to rein in a bullish trend of import since the beginning of the second half of last fiscal year are paying dividends as import costs have shrunk to $6 billion from over $8 billion a month. “It [imports] used to be $8 billion a month, which came down to $7 billion last month and $6 billion this month. I believe our issues will be resolved pretty soon," he said. Salman said the prime minister took proactive initiatives to protect the economy in pandemic times and she did the same when the dollar prices began skyrocketing. Read: Govt to provide financial support to ensure compliance in industries: Salman F Rahman "Alongside, Bangladesh Bank has taken initiatives to reduce imports at the right time." "When this government came to power we have about 4 thousand MW capacity in electricity but now it has become 22 thousand MW which reveals our potent energy situation. Though we now have a better situation to attract the FDI and I also admit there is room for development,” he says. The policies that make RMG a successful enterprise have to be replicated in other sectors," he added. Dr. Selim Raihan, Executive Director of South Asian Network on Economic Modeling (SANEM) presented the keynote speech on “Anatomy of a Macroeconomic Crisis”. "We shouldn’t call the situation a crisis rather we say it is a challenge," he added. "Yes, our foreign reserves have some pressure but we need not be compared with other countries like Srilanka and Pakistan as our economic base is more stable and stronger." President of FBCCI Md. Jashim Uddin were present on the occasion as special guest while Haznah Md Hashim, Malaysian High commissioner to Bangladesh was present as a guest of honor. Jashim Uddin says that the Bank shouldn’t impose higher interest to stabilize exchange rate, because the SME and other business can be demoralized and fall into distress. Read: Sufiur Rahman appointed Bangladesh envoy to Switzerland Malaysian High commissioner to Bangladesh Haznah Md. Hashim thanked BMCCI to organize this well-timed seminar on burning issues. "As a brotherly nation and important trade and business associate, Malaysia will continue to support Bangladesh with all its strength as far as our bilateral bond become strong," she said. At the beginning BMCCI President Syed Almas Kabir said BMCCI "powerlunch" aimed for macroeconomic analysis which broadly focus on the current economic situation and inform us the overall health of economy a comprehensive view of the recent global financial crisis within a framework and the factor concerning our monetary and fiscal policy for crisis management. At the end of the programme, CEO of Robi Axiata Ltd. and as a Vice President of BMCCI Riyaaz Rasheed thanked all and expressed his gratitude being a part of this grand event.  

Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) called on the government to withdraw tax on microbus as it is widely used for public transportation and has a significant impact on urban and rural life. Secretary General of the organization Mohammad Shahidul Islam made this call at the post-budget press conference held in BARVIDA office Wednesday. Mohammad Shahidul Islam said they wanted the government to provide the 45% depreciation benefit on reconditioned cars and a year-round depreciation benefit but it was not included in the budget. He urged the government to consider their proposal and include the depreciation benefit to the budget. In this conference BARVIDA sincerely thanked the Prime Minister and Finance Minister for preparing a new budget amid pandemic that includes reduced tariffs on imports of microbuses and hybrid cars and jeeps. Read Top Insurance Companies in Bangladesh in 2021 They also praised the government for recognizing microbuses as public transport and discouraging unsafe transport like Nasimon, Laguna, etc. Quoting Japan International Cooperation Agency (JICA), BARVIDA leaders mentioned that the establishment of a new car industry in the country would be reasonable only if the domestic market for the car is 1 lac units. They pointed out that in some cases, the price of a reconditioned car gets higher than that of a new car due to extreme inequality in the tariff. As a result, buyers are declining, importers are declining and traders in the sector are facing a severe financial crisis. Also read: The World's 10 Self-made Youngest Billionaires in 2021 BARVIDA also called on the government to ensure that no attempt is made to establish a "screwdriving industry" by importing CKDs (Complete Knock Down) in the name of establishing a new industry. They urged the government to do its utmost ensuring that the country's long-established reconditioned car import sector is not harmed in any way at the free market economy. Abdul Haq, President of the Association along with the executive members and general members of the organization were present at the conference.

The United States has granted Iraq a 45-day sanctions waiver enabling the country to continue importing vital Iranian gas and electricity supplies.