Plastic Industry Policy Targets Expanding Domestic Market

The Bangladesh Chemical Industries Corporation (BCIC) is facing significant delays in constructing 34 buffer warehouses for fertiliser storage. Originally budgeted at Tk 1,983 crore, the project's cost has surged by 25.2%, reaching Tk 2,482 crore.

Khan Brothers PP Woven Bag Industries has decided to sell its ownership to BSB-Cambrian Education Group due to ongoing financial difficulties stemming from a severe working capital shortage. This decision follows a recent directive from the Bangladesh Securities and Exchange Commission (BSEC) to investigate a notable surge in Khan Brothers' stock prices on the Dhaka Stock Exchange. 

Khan Brothers PP Woven Bags has seen an extraordinary 150% increase in its share price over 14 trading sessions, despite years of losses and no dividends paid for the fiscal years up to 2022-23. The Bangladesh Securities and Exchange Commission (BSEC) has requested the Dhaka Stock Exchange (DSE) to investigate this unusual trading activity.

Industrial output grew by 6.66% in FY2024, down from 8.37% in FY2023 and 9.86% in FY2022, marking the third consecutive year of decline since FY2021's 10.29%. The Bangladesh Bureau of Statistics (BBS) released this data two months into the new fiscal year, with reports attributing the slowdown to import restrictions, foreign exchange shortages, high inflation, and gas shortages.

The Bangladesh Economic Zones Authority (Beza) has requested the interim government's approval to terminate its agreement with SBG Economic Zone Ltd for a project in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram. The consortium, including Sikder Group, Bashundhara Group, and GasMin Ltd, failed to develop the 500-acre site by the 2020 deadline, as required by the contract.

Manufacturing companies across various sectors—food and beverages, textiles, and cement—are struggling to recover from losses incurred during weeks of nationwide unrest, including government-imposed curfews, internet blackouts, and vandalism following the resignation of the previous government.