Imports through Chattogram port fell 2.5 per cent year-on-year in the first six months of the current fiscal as rising US dollar prices pushed up the overall costs involved, according to traders.
The price of the most-consumed items during Ramadan such as chickpeas, dried peas and dates has increased in the wholesale markets in Dhaka and Chattogram due to a supply shortage, two months before the fasting month begins.
The Bangladesh Bank is yet to take any visible measure in line with a commerce ministry directive aimed at asking banks to earmark a portion of their foreign currency holdings to open letters of credit to import essentials ahead of Ramadan.
Of all the money spent behind the 4,500 types of goods imported through the Chattogram port in the first five months of fiscal year 2022-23, more than 51 per cent or Tk 104,600 crore was spent for only 20 products.
The National Board of Revenue appears to be in a dilemma over releasing an imported luxury car under the duty-free facility in the name of the former leader of the House Syeda Sajeda Chowdhury.
The import of essentials such as edible oil, chickpeas, dried peas and sugar fell in July-November as traders face difficulties in opening letters of credit (LCs) to purchase the items from international markets amid the US dollar shortage.
Eight officials of Standard Asiatic Oil (SAOCL), a subsidiary of the Bangladesh Petroleum Corporation, have embezzled Tk 21.64 crore by showing advance cost and fake bill vouchers, found investigations by the Directorate of Power and Energy Audit and BPC.
Bangladesh Export Processing Zones Authority (Bepza) has taken a number of steps, including connecting to customs management software, to prevent the use of fake import permits following the detection of such malpractices this year.
At least three import consignments were released without inspection from the Chattogram Port using the login credentials of a top customs official in June-July despite the recent measures taken to thwart such cons that cost the state coffer in unpaid duties and taxes.
Finally, about 500 tonnes of DDT pesticide, which is extremely harmful to the environment, will be shipped to France to properly dispose of the substance.
The construction of the country’s first under-river tunnel has reached a major milestone after the completion of a tube, a success Bangladesh Bridge Authority will celebrate today with Prime Minister Sheikh Hasina joining the programme virtually.
The Chattogram Customs House has demanded Tk 5,227 crore as unpaid duties from Bangladesh Oil, Gas & Mineral Corporation (Petrobangla) against 89 consignments of liquefied natural gas (LNG).
The coast of Mirsharai, an upazila in the southeast division of Chattogram, wakes up in the morning to the sounds of under-construction factories, and machines of several newly-built plants on a vast part of the region.
Consumers suffered a fresh blow yesterday as commodity processors raised the prices of edible oil and sugar by up to Tk 13 per kg.
The import of raw materials used in manufacturing cement rose 17 per cent year-on-year in the July-October period of the current financial year of 2022-23 despite the US dollar crunch.
Sugar prices have started rising afresh to hit a record high of as much as Tk 125 per kilogramme at retail in the two main cities of Bangladesh, namely Dhaka and Chattogram, further straining the wallets of consumers as inflation continues to bite.
The government has been deprived of Tk 472.7 crore for 21 counts of irregularities by Standard Asiatic Oil Company, a subsidiary of the Bangladesh Petroleum Corporation, found an audit.
The price of wheat flour has increased in retail markets due to a decrease in imports and rise in international market prices, dealing a fresh blow to the people who are already struggling to make their ends meet.
Chattogram Custom House has approved the handover of 71 luxury cars to the highest bidders at an auction for a total of just Tk 12.53 crore even though the vehicles have a combined market value of Tk 114 crore.
The Directorate of National Consumers Right Protection has identified seven reasons behind the price hike and shortage of sugar, including gas crisis, not mentioning price in sales invoices and complications in opening letters of credit.
Sugar has become dearer with prices going up by Tk 15 a kg at retail markets as millers cut supplies blaming insufficient gas flow at refineries.
Sugar prices have increased again in Dhaka and Chattogram amid a supply crunch.
The Cabinet Committee on Economic Affairs yesterday granted Bangladesh Petroleum Corporation permission to import 54 lakh tonnes of oil next year in a bid to secure supply of the key commodity amid the Russian invasion of Ukraine and geopolitical tension.
Shipping agents are facing difficulties in submitting the registration number and import general manifest (IGM) against their vessels due to a glitch in the related server of the National Board of Revenue (NBR), leading to delays in import-export activities.
The Chattogram Customs House has fined Z&Z Intimates Ltd Tk 56.4 crore for illegally releasing an imported Rolls Royce vehicle.
A standoff over unpaid bills between the government and independent power plants that run on heavy fuel oil is hurting people when they are enduring the worst power crisis in a decade.
Since last July, entrepreneur Sujan Barua, a father of two, has been campaigning against noise pollution in different areas of Chattogram.
Custom House Chattogram has auctioned off 78 luxury cars whose brands included that of BMW, Land Rover, Mitsubishi, Mercedes and Lexus and which attracted individual bids of a maximum of Tk 2.5 lakh to Tk 50.5 lakh.
Refiners in Bangladesh have cut the price of soybean oil and the new rates have started to take effect in the kitchen markets of Dhaka.
Business and industrial activities were disrupted for several hours since yesterday afternoon as the national power grid failed, plunging half of the country into darkness.
Bangladesh Ship Recycling Act, 2018 was enacted four and a half years ago but its implementation has stayed limited to just the formation of a board.
Whenever the price of a commodity increases in the local market, the traders and wholesalers have the readymade excuse of a price hike in the international market. But a recent study by an intelligence agency found their justification to be unsubstantiated.
Custom House Chattogram has served a notice to BM Container Depot asking why its private bonded warehouse licence should not be cancelled following the recent deadly explosions and fire inside it.
The National Board of Revenue (NBR) has no definite guideline on grading steel, prompting duty evasion through underinvoicing and adoption of other unfair means by dishonest importers, depriving the government of hundreds of crores of taka in revenue each year.
Scanners will be installed at both ends of the Karnaphuli tunnel in Chattogram to make sure that vehicles carrying flammable goods cannot use the underwater structure.
Smuggled or abandoned liquor and cigarettes from now can be sold off at a minimum of 60 per cent of their value to shops listed by customs instead of being kept on hold for sale by Bangladesh Parjatan Corporation.
Import of raw materials used in manufacturing cement has increased in recent months in spite of the items turning pricier.
A parliamentary watchdog yesterday came down heavily on Industries Minister Nurul Majid Mahmud Humayun for the price spiral of sugar despite ample supply of the commodity.
For the past two months a storage tank of state-run Padma Oil Company containing nearly 6,000 tonnes of furnace oil has been kept sealed off by Custom House, Chattogram on charges of dodging duty of Tk 116.74 crore.
The government yesterday hiked the price of soybean oil for the fourth time this year even though the price of the product in the international market held steady in the past month.
Petroleum imports continue to be the major source of revenue for Custom House, Chattogram thanks to higher tariffs.
The price of wheat in Bangladesh may come down as its export from Ukraine has resumed following an agreement with Russia.
A Chinese company housed in the Chattogram Export Processing Zone imported finished goods with “Made in Bangladesh” labels by declaring those as raw materials, in an incident that violated both local and international rules.
The locomotive driver of the Mahanagar Prabhati train, which hit a microbus on Friday morning killing 11, said he had no time to pull the brakes.
A picnic was organised to boost the morale of a batch of SSC and HSC students, but the smiling faces in the group photo taken yesterday morning will remain a poignant reminder that some of those lives were cruelly cut short mere hours later.
Customs officials seized five containers of liquor imported through false declaration in the last three days.
Customs and law enforcement agencies seized a huge amount of liquor, imported on the false declaration of being machines and yarn, from inside two container trucks at Narayanganj’s Sonargaon upazila in the early hours of yesterday.
Many areas of Chaktai-Khatunganj, the wholesale essential commodities market in Chattogram, were flooded with tidal water as Chattogram Development Authority (CDA) could not complete the dredging works of the canals and construction works of the sluice gates on time.