United News of Bangladesh

The supply of soybean oil is expected to normalise within the next two days, said Commerce Adviser Sk Bashir Uddin on Monday. He made the statement while addressing the media following his visit to the Mohammadpur Town Hall kitchen market.  Industries Adviser Adilur Rahman Khan was also present. Responding to queries regarding the supply situation of soybean oil, Bashir Uddin stated, "There is no shortage of essential commodities. While the supply of soybean oil is somewhat lower, there is no denying this fact. However, we expect the situation to improve from today." Price of 12-kg LPG cylinder goes down by Tk 28 On the issue of rising soybean oil prices, the commerce adviser noted that although soybean oil is being sold at higher prices, palm oil is currently being sold Tk 25 lower than the government-fixed price. "Sixty percent of our total edible oil consumption comes from palm oil. The market has seen a simultaneous rise and fall in oil prices. We are optimistic that the price of soybean oil will also decrease soon," he added. About concerns over food quality and adulteration, Industries Adviser Adilur Rahman said that the Bangladesh Standards and Testing Institution (BSTI) has been operating mobile courts to monitor product quality and curb food adulteration during the holy month of Ramadan. "Today, mobile courts have been conducted in four markets, and this initiative will continue," he said. Prices of chicken, fish rise in Dhaka’s kitchen markets Among those present during the visit were Commerce Ministry Secretary Mahbubur Rahman, Industries Ministry Secretary Md Obaidur Rahman, Director General of the Directorate of National Consumer Rights Protection Mohammad Alim Akhtar Khan and BSTI's SM Ferdous Alam.  

The price of a 12-kg LPG cylinder has been re-fixed at Tk1,450 for the month of March, down by Tk 28 from the previous month’s price of Tk 1,478, with effect from 6 pm on March 3 (Monday). As per the announcement of the Bangladesh Energy Regulatory Commission (BERC), the price of per kg LP gas has been brought down by Tk2.35 to Tk120.81 from Tk 123.16 for the month. The prices for other sizes of LPG cylinders—ranging from 5.5 kg to 45 kg—will also go down accordingly, the BERC added. LPG price slightly hiked after VAT structure change It also said that the price of “auto gas” (LPG used for motor vehicles) has been adjusted to Tk 66.43 from Tk 67.78 (including VAT) per litre. However, the price of LPG marketed by the state-owned LP Gas Company will remain unchanged, as it is locally produced and holds a market share of less than 5 percent. BNP slams LPG price hike as ‘illogical, anti-people’ LPG witnessed the highest price at Tk 1,498 (per 12 kg cylinder) in the local market in February in 2023.

The government has waived Value-Added Tax (VAT) on several products at the production and trading levels until June 30, 2025. The Internal Resources Division of the Finance Ministry issued a notification regarding this decision on Monday. Electronic VAT machines made mandatory at highway restaurants to halt cheating: NBR According to the notification, rapeseed oil, colza seed oil, and canola oil will be exempt from VAT at the production stage until June 30, 2025. Mustard oil will also be exempt from VAT at the production stage, with no time limit. VAT on Superstores: No extra charge on MRP, clarifies NBR Besides, several locally produced products will be exempt from VAT at the business level, including biscuits, salt, flour, semolina, chili powder, coriander, turmeric, ginger, rice bran oil, sunflower oil, rapeseed oil, colza seed oil, canola oil, and pulses or pulse-like food grains.  

Installation of Electronic Fiscal Device (EFD) or Sales Data Controller (SDC) machines has been made mandatory in all the highway restaurants of the country aiming to enhance declining Value Added Tax (VAT) collection. The move by the National Board of Revenue has taken after consumers' complaint VAT is not being properly deposited in the government treasury as the highway eateries do not issue electronic VAT invoices. According to the NBR, 24-hour business activities are carried out in the restaurants along the highways. Many of them collect VAT but do not deposit it properly. In order to collect VAT properly, NBR Chairman Md Abdur Rahman Khan recently issued instructions to install EFD/SDC machines in all the hotels and restaurants located on the highways of the country. In that context, the letter issued by the VAT Implementation Division of the NBR has directed all field-level commissioners to install EFD/SDC machines in hotels and restaurants located on all highways of the country and to monitor daily transactions regularly and collect the appropriate amount of VAT. VAT on Superstores: No extra charge on MRP, clarifies NBR Genex IT has been working with the NBR for the past few years to install EFD machines and enter all transaction information into the IVAS system through its overall management. The interim government is taking various positive steps to keep the wheels of the country's economy moving, officials said. To this end, the NBR has issued strict instructions at the field level to identify new taxpayers for revenue collection and change the VAT rate, as well as to prevent revenue evasion. The NBR has instructed field-level officers to maintain a service-oriented attitude towards taxpayers in collecting legal revenue. NBR is specifically requesting the consumers to take electronic invoices or receipts while shopping at all restaurants on the highway. If the VAT invoice is not accepted, the VAT paid by the buyers will not be deposited in the government treasury, the NBR said. 1,723 new businesses receive VAT registration in a single day Every month, NBR will award hundreds of prizes to the winning VAT payers through a lottery from among the EFD machine-generated VAT receipts. Recently, the NBR has taken another move to install electronic fiscal device (EFD) all jewellery shops across the country, aiming to enhance the revenue collection from this sector. At the initial stage the EFD will be installed in all jewellery shops in Dhaka, Narayanganj, Narsingdi, Munshiganj, Manikganj, Savar, Gazipur, Mymensingh, Netrakona, Kishoreganj, Sherpur, Tangail, Jamalpur, Chattogram, Cox's Bazar, Bandarban, Khagrachhar and Rangamati districts soon. The revenue collector has issued a letter in this regard. It held a meeting with the leaders of the Bangladesh Jewellers Association (Bajus) on January 7 at the NBR regarding the establishment of EFD. Association leaders raised various problems in the jewellery sector. Some of the problems were related to VAT, baggage rules, gold import, etc. They informed that there are still many institutions in the jewellery sector which are not registered under VAT. The leaders said that by registering unregistered institutions, establishing EFD in all institutions, and solving other problems in this sector in a reasonable and fair manner, the government's revenue collection will increase and this sector will flourish. No VAT on purchases at supershops: NBR A request has been made to the association provide a list of jewellery establishments in the markets and areas of Dhaka, Narayanganj, Narsingdi, Munshiganj, Manikganj, Savar, Gazipur, Mymensingh, Netrakona, Kishoreganj, Sherpur, Tangail, Jamalpur, Chattogram, Cox's Bazar, Bandarban, Khagrachhari and Rangamati. And the association already sent the list. At present the number of registered VAT payers is just over 500,000 although a significant number of eligible businesses operating outside the system. The NBR chairman on several occasions expressed his dissatisfaction over the collection of VAT. According to the NBR data, till December 2024 the VAT collection at the local level was Tk 36,676 crore against the target of Tk 52,558 crore while the collection in December 2023 was Tk 39,453 crore.  

The Meet Bangladesh Sourcing Show (MBS) hosted leading Bangladeshi plastic companies, including Real Fibre, Glass Industries, Duranta Cycles, Jim & Jolly, Rafid Toys Industries, and Zihan Toys, at the premier international plastic toys exhibition, the Istanbul Toy Fair 2025, in Türkiye. The event took place from February 25-28, where Bangladesh and its leading plastic companies were represented at a pavilion titled "Meet Bangladesh" to promote the plastic and plastic toy industry of Bangladesh.  

Bank transaction hours have been adjusted for the month of Ramadan like the previous years. According to Bangladesh Bank’s last week’s directive, transactions will take place from 9:30 am  to 2:30 pm during Ramadan while banks will remain open until 4 PM for post-transaction activities. The directive also states that there will be a break for Zuhr prayers from 1:15 pm to 1:30 pm. After Ramadan, banks will revert to their previous schedule. Prior to the holy month, banks operated from 10 am to 6 pm with transactions available until 4 pm. As in previous years, the central bank has also adjusted its office hours in line with financial institutions, setting them from 9:30 am to 4 pm. During this period, banks must complete their official work with the central bank within the revised hours, said the central bank.

For the first time since independence, a cargo vessel from Pakistan carrying rice is set to reach Monga seaport this week. The Pakistan fagged-carrier vessel-loaded with 25 metric tonnes (MT) of rice left Karachi Qasim port a few days back and is expected to anchor at Chittagong port within two or three days. Two ships carrying rice from India and Myanmar reach Ctg port After unloading 60 percent of rice there, the vessel with the remaining quantity of rice will move towards Mongla, said sources. A Government to Government (G2G) deal between Bangladesh and Pakistan was inked at the beginning of the last month to import 50 MT of Basmati rice through Trading Corporation of Pakistan (TCP). As per the deal, first consignment of the rice is on its way to Bangladesh and the second consignment is expected to come at the end of the current month. Ships carrying rice from Myanmar and India reach Ctg, Mongla port Indrajit Sarker, deputy controller at Khulna office of controller of movement and preservation, said 40 percent of the 25 MT of rice will be unloaded at the Mongla port. Khulna District Assistant Food Controller (additional charge) Tayebur Rahman said there are 47,000 MT of rice in the central food warehouse of Boyra and Maheshwarpasha. The capacity of the two warehouses is one lakh metric tonnes, he said.

Prices of essential commodities, particularly those used for iftar, have increased in Khulna’s markets with the onset of Ramadan, with some items seeing a two-to threefold hike. Locals said prices of eggplant, cucumber, and lemon—highly sought after for iftar— have been doubled despite adequate supply in the markets. Visiting KCC Sandhya Bazaar on Saturday the UNB correspondent found eggplant is currently selling for Tk 60-80 per kg, up from Tk 25-30 just a week ago. Cucumbers which were Tk 30 per kg last week are now being sold at Tk 60-80. Four lemons which were selling at Tk 20-30 few days ago are now selling for more than double that price. A similar trend was observed in other city markets, including Mistripara Bazaar, Rupsha Bazaar, and Moylapota Sandhya Bazar. Date prices drop by Tk100 to Tk400 per kg amid huge import Broiler chicken is selling for Tk 200-210 per kg while Sonali chicken is priced at Tk 320-340 per kg and layer chicken is being sold for up to Tk 320 per kg. When asked about the price hike, a poultry seller at KCC Sandhya Bazaar said, "Farm supply has decreased slightly, which is why prices are higher. However, chicken prices will remain within people’s purchasing capacity during Ramadan." A vegetable vendor at "Mayer Doa Vegetable Shop" in KCC Sandhya Bazar said that wholesale prices have doubled in just two days, despite stable supply. "Wholesalers have increased prices due to high demand, leaving us vendors to face complaints from consumers," he said. Taslima, a shopper at the market, expressed frustration over the rising costs. "I had hoped prices would remain stable this Ramadan, but as demand increases, so do the prices," she said. She said beef, which was selling for Tk 700 per kg, has now been hiked by another Tk 50 instead of decreasing. Khulna consumers face price hikes of some essential commodities A team led by Additional Deputy Commissioner (ADC) Nurul Hai Mohammad Anas, along with Executive Magistrate Muntasir Mamun, is inspecting markets to curb price manipulation.

The private sector United Commercial Bank (UCB) has gradually improved from its troubled situation. The UCB achieved a savings growth of over Tk 1,332 crore in February, which shows customers' renewed trust in the bank. Mohammed Mamdudur Rashid, Managing Director and CEO of UCB, said, "Even in the current challenging environment, this achievement of UCB is the result of the trust and support of our customers, shareholders, and employees. We always prioritize the needs and trust of our customers.” This success brings a positive message for the entire banking sector. The UNB works with honesty, transparency, and innovative thinking that helps overcome crisis, he opined. UCB's success is not only reflected in financial indicators but also demonstrates the deep trust of customers in the institution as it moves forward on the path of sustainable growth. Amid the ongoing crisis in the banking sector, UCB has maintained its service quality and financial strength, said a press release.

Consumers have expressed satisfaction over the declining prices of dates, following an import volume that has doubled compared to market demand ahead of Ramadan. On Saturday, the lowest price for dates in Dhaka was Tk250 per kg, while mid-range varieties were selling for Tk600 to Tk900 per kg. Premium-quality dates were priced at Tk1,600 per kg. Traders attributed the price drop—ranging from Tk100 to Tk400 per kg compared to last year—to reduced import duties. They said that demand for dates typically rises during Ramadan. Top 10 Date Varieties: Nutrition, Health Benefits, and Prices in Bangladesh At the start of this year, the import duty on dates was lowered from 25% to 15%, while the customs valuation was reduced by 8% to 25%. As a result, imports have doubled this year compared to the previous year. According to customs data, approximately 53,768 tonnes of dates were imported between July 1 and February 22 of the current fiscal year (FY 2024-25). During the same period last year (FY 2023-24), imports stood at 25,085 tonnes, while FY 2022-23 saw a significantly higher import volume of 81,684 tonnes. Ehsan Ullah Zahedi, proprietor of Al-Madina Traders in Chattogram’s Khatunganj, told UNB over the phone that the date business thrives during Ramadan but sees little demand for the rest of the year. Md Mohiuddin, General Secretary of the Chaktai-Khatunganj Aratdar General Traders Welfare Association, said the price of dates remains within buyers' affordability. “This year, imports have been substantial. Imported fruit prices surge by up to Tk 100 per kg ahead of Ramadan Besides, unsold stock from last year remains with many traders, contributing to the declining price trend,” he added. A wide variety of dates are imported from Saudi Arabia, Iran, Egypt, Algeria, Tunisia, and Dubai, including Zahidi, Sayedi, Faridi, Safai, Rashidi, Mashrukh, Mabrur, Nagal, Kudri, Ajwa, Medjool, Maryam, Dabbas and Sukkari. At the Badamtoli fruit market, a five-kg pack of Nagal dates is being sold for Tk1,400 to Tk1,500, while Tunisian Tetco Faridi dates cost Tk2,100 to Tk2,200 per five-kg pack. Meat, eggs and milk to be sold at affordable prices at 25 spots In addition: 5 kg of Mashrukh dates from Saudi Arabia: Tk2,100 to Tk2,2005 kg of Mashrukh-B brand: Tk2,5005 kg of Mashrukh VIP: Tk2,7005 kg of Iranian Maryam dates: Tk4,000 to Tk5,0005 kg of Saudi Mabrur dates: Tk4,500 to Tk5,0005 kg of Saudi Ajwa dates: Tk4,000 to Tk4,5005 kg of Egyptian Medjool dates: Tk3,800 to Tk4,00010 kg of Iraqi Zahidi dates: Tk1,600 to Tk1,700Loose sack dates per kg: Tk130 to Tk135