Govt Issues Tk 2,357 Crore Bonds to Settle Fertiliser Importers’ Arrears

The Anti-Corruption Commission (ACC) filed a case against six officials, including a project director from the Department of Agricultural Extension (DAE), over the embezzlement of Tk4.75 crore. The case, filed by an ACC Deputy Director, pertains to fraud in a project to construct a 5-storey office-cum-staff dormitory under the "Upgradation of Existing Plant Quarantine Laboratory at Central Packing House to International Standard (UPQWLAB) Project (1st Revised)" in Dhaka's Shyampur.

The three-day shutdown and subsequent violence over the quota reform movement have severely disrupted Bangladesh's economy, already struggling with high inflation, falling exports, and dwindling forex reserves. Factories, including the key garment sector, shut down, fearing further violence and arson.

Urea fertiliser imports in Bangladesh are facing challenges as banks struggle to secure dollars for opening letters of credit (LCs). The Bangladesh Chemical Industries Corporation (BCIC), responsible for supplying urea, has had its LC applications frequently rejected due to a dollar shortage.

Experts at a Dhaka workshop emphasized that expanding crab farming in Bangladesh could significantly boost export earnings, given the rising global demand for crabs. The event, organized under the Resilient Homestead and Livelihood Support to the Vulnerable Coastal People of Bangladesh (RHL) project and funded by the Green Climate Fund (GCF), highlighted the economic benefits for coastal communities and stressed the need for increased research and collaboration between government and non-government sectors.

Prime Bank PLC has signed a Memorandum of Understanding (MoU) with Syngenta Bangladesh Limited to offer mortgage-free overdraft loans to Syngenta’s distributors. The agreement enables distributors to access up to BDT 1 crore in financing.

Government entities are projected to incur expenses 4.68 times higher than the total loss of Tk 5,989.57 crore incurred in FY24, according to projections made by a monitoring cell of the Finance Division under the Ministry of Finance.