Eight Public Enterprises Default on Tk 184 Crore Loans to State Banks

The National Board of Revenue (NBR) has reduced import taxes on onions and potatoes to address rising prices and boost supply. Effective until November 30, tariffs on onions have been cut to 5 percent and on potatoes to 15 percent. This move aims to make these essential items more affordable.

Recent floods in Bangladesh have caused significant agricultural losses estimated at Tk3,346 crore, affecting 1.4 million farmers. The most severe impact was on paddy production, with losses of Tk2,519 crore, and extensive damage to 291,333 hectares of paddy fields and 19,680 hectares of Aman paddy seedbeds.

In the last two months, importers secured permits to bring 280,000 tons of onions, mainly from India, but due to rising prices in India, imports from China, Pakistan, Egypt, and Thailand have increased. Chittagong seaport cleared 5,588 tons of onions during this period. Despite the surge in imports, retail onion prices remain above Tk 120 per kg. The country uses around 3 million tons of onions annually, with local production at 2.3 million tons; the deficit of 700,000 tons is typically met through imports.

Recent floods in Bangladesh are expected to reduce rice acreage and production, particularly affecting Aus and Aman seasons. The US Department of Agriculture (USDA) forecasts rice acreage will fall to 11.5 million hectares for the 2024-25 marketing year, down 3.4 percent from the previous estimate of 11.9 million hectares. This could lead to a 2.4 percent drop in production to 36.8 million tonnes.

The Adviser for the Ministry of Textiles and Jute has encouraged Pakistani investors to invest in Bangladesh’s textile and jute sectors, including the revival of closed state-owned mills. During a meeting with the Pakistani High Commissioner, the Adviser emphasized investment opportunities in these industries. The Pakistani diplomat expressed interest and invited Bangladesh to participate in Pakistan's Textile Expo in October. The

The Dhaka Elevated Expressway (DEE) marked its first anniversary, recording 12.7 million vehicles during this period. The 11.5-km expressway, which stretches from the Airport to Farmgate and Kawran Bazar, has generated Tk 1.04 billion in tolls since its inauguration on September 3, 2023. Notably, 98% of the toll revenue came from private cars and microbuses, which are charged Tk 80 for using the expressway.