Unilever Consumer Care re-appoints Masud Khan as chairman

Nazia Kabir, partner at "Syed Ishtiaq Ahmed & Associates" and advocate at Bangladesh's Supreme Court, has joined Prime Bank PLC as its first female independent director. A seasoned legal expert with over 20 years of experience, Kabir specializes in company law, banking, project financing, and dispute resolution.

The government will procure soybean oil, lentils, LNG, and fertilisers to meet domestic demand. The Advisors Council Committee on Government Purchase, chaired by Finance Adviser Dr Salehuddin Ahmed, approved proposals for these procurements.

The National Board of Revenue (NBR) has removed all import taxes on sunflower and canola oils and reduced the VAT on their imports to 5 percent, aiming to boost supply and control rising edible oil prices. Effective until March 31 next year, this move is expected to reduce import costs by Tk 40-50 per litre.

Despite rising inflation, public food distribution in Bangladesh fell by 6% year-on-year in the first half of the current fiscal year. Public agencies distributed 13.78 lakh tonnes of rice and wheat until December 5, down from 14.63 lakh tonnes the previous year.

Consumer financing in Bangladesh has slowed due to rising interest rates and economic uncertainty. People are cautious about taking loans, with banks also adopting a conservative approach to lending amid political instability.

Bangladesh's interim government approved several procurement proposals to support low-income households and farmers. The Trading Corporation of Bangladesh (TCB) will buy 1.40 crore litres of edible oil from S Alam Super Oil Ltd, including 30.10 lakh litres of soybean oil for Tk 53.34 crore and 1.10 crore litres of palm oil for Tk 134 crore.