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In the first five months of the fiscal year 2022–23, Bangladesh’s trade deficit decreased by six percent year on year to $11.79 billion — a development that is likely to relieve pressure on the country’s foreign exchange reserves. According to data from the Bangladesh Bank shipped $20.74 billion worth of …

The state coffers were robbed of Tk 258 crore for 26 counts of irregularities by the Chattogram Port Authority between fiscal 2017-18 and 2019-20, found the Comptroller and Auditor General (CAG). The irregularities include violations of Public Procurement Rules 2008, Income Tax Ordinance 1984, National Board of Revenue’s order and …

Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year. Named “lender of the last resort”, the facility has allowed the banks to borrow from Bangladesh Bank (BB) at …

The Bangladesh Garments Workers Unity Council (BGWUC) yesterday demanded that the monthly minimum wage of garment workers be hiked by 175 per cent to Tk 22,000 from the existing Tk 8,000. The rise in the minimum wage for garment workers is needed because of the abnormal rise in the cost …

The country’s female garment workers have a wage gap of around 51 per cent to 60 per cent depending on the area and living wage benchmark in five major industrial areas in Bangladesh, including Dhaka city, a survey finds. However, the wage gap for male workers remains at 45 per …

Private sector credit growth rose to 13.97 per cent in November to near the central bank’s target for the ongoing financial year owing to cheaper loans, a development that may stoke inflationary pressures. The Bangladesh Bank has aimed a 14.1 per cent credit expansion for 2022-23, which began in July. …

Agriculture Minister Dr Md Abdur Razzaque urged the country’s agriculturists to develop a ‘smart agriculture’ based on modern science and technology, saying that the country has already witnessed a revolution in the agriculture sector. “The biggest revolution in the country has taken place in the agriculture sector. After independence, 1.10 …

People can now pay all fees of Bangladesh Road Transport Authority (BRTA) in the comfort of their home through Nagad – a mobile financial service of Bangladesh Postal Department. To this end, an agreement was recently signed between Nagad and Computer Network Systems (CNS) Limited, a digital payment service provider …

Though the government has made mandatory the submission of tax returns to get more than 40 services, the response remained poor. The National Board of Revenue (NBR) extended time twice for return submission in the fiscal year 2022-23, despite this move, the number of returns remained around 30 lakh out …

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has urged the officials of the Dhaka Power Distribution Company Limited (DPDC) to introduce a smart management system in their power grid as part of the government’s goal to build a Smart Bangladesh. “Developing human resource and technology-friendly people can …