The Ministry of Shipping of Bangladesh has announced an increase in launch fares effective from Tuesday, May 5. The decision follows the recent rise in fuel prices. Under the new rates, fares for short-distance routes have increased by 18 paisa per kilometer to 2.95 taka, while long-distance fares have risen by 14 paisa per kilometer to 2.52 taka. The minimum fare per passenger has also been raised from 29 taka to 32 taka. The ministry issued a gazette notification confirming the changes under the Bangladesh Inland Water Transport (Routes, Permits, Schedules and Fare Determination) Regulations, 2019.

The fare adjustment comes after the government raised fuel prices on April 18, increasing diesel by 15 taka, octane by 20 taka, petrol by 19 taka, and kerosene by 18 taka per liter, effective from midnight on April 19. Following the fuel price hike, transport owners and workers held several meetings with the government to revise fares across public transport sectors.

Earlier, on April 23, the Ministry of Road Transport and Bridges raised fares for diesel-run buses and minibuses by 11 paisa per kilometer, which took effect the same day.

Water Resources Minister Shahiduddin Chowdhury Annie announced that the technical and feasibility studies for the Padma Barrage Project are nearly complete. Speaking to reporters after a meeting with Prime Minister Tarique Rahman at the Secretariat on Wednesday, he said the project will soon be presented at an Executive Committee of the National Economic Council (ECNEC) meeting for discussion and decision.

The meeting, held at the Prime Minister’s Office, focused on water resource management, including canal excavation, irrigation facilities for farmers during the dry season, and the Padma Barrage Project. According to the minister, the project is crucial for one-third of Bangladesh’s population, especially in North Bengal, as it aims to address dry-season water shortages, improve irrigation, maintain river navigability, and support fisheries and agriculture.

The proposed project, estimated to cost about Tk 34,497 crore, plans to build a barrage on the Padma River at Pangsha Point in Rajbari to store water for irrigation and environmental management. Discussions also covered the Teesta Project and upcoming canal excavation programs to be inaugurated by the Prime Minister in Chandpur and Feni later in May.

Bangladesh’s overall inflation increased to 9.04 percent in April, up from 8.71 percent in March, according to the latest report released on Wednesday by the Bangladesh Bureau of Statistics (BBS). The rise has been attributed to the impact of ongoing tensions in the Middle East and global economic uncertainty, which have affected domestic markets.

The BBS data show that food inflation climbed to 8.39 percent in April from 8.24 percent in March, intensifying pressure on consumers as prices of essential goods continued to rise. Non-food inflation also showed an upward trend, reaching 9.57 percent compared to 9.09 percent in the previous month. Increases in housing rent, fuel, and transport costs were identified as key contributors to the non-food inflation rise.

A year-on-year comparison indicates that overall inflation in April 2025 was slightly higher at 9.17 percent, with food inflation at 8.63 percent and non-food inflation at 9.61 percent, suggesting a modest improvement in the current year’s figures despite persistent cost pressures.

Depositors affected by six liquidated non-banking financial institutions (NBFIs) held a human chain protest in front of Bangladesh Bank’s headquarters on Wednesday, demanding the immediate return of their withheld savings. Participants, numbering over a hundred, wore black cloths over their mouths to symbolize their suffering and called for urgent action to recover their money.

In a written statement, the protesters said they represent more than 12,000 depositors whose funds have been stuck for seven years, causing severe financial uncertainty, mental distress, and humanitarian crises. Many depositors are reportedly unable to afford treatment for serious illnesses such as cancer, kidney, and heart diseases, and some have already died due to lack of medical care. The statement emphasized that Bangladesh Bank, as the regulator of all scheduled banks and NBFIs, bears the highest responsibility for protecting public deposits.

The protesters urged the central bank to announce a clear and practical roadmap for returning funds by the previously declared July 2026 deadline and to prioritize repayment to affected depositors.

Prime Minister’s Adviser Mahdi Amin stated that Bangladesh has maintained significant control over fuel prices compared to other countries. He made the remarks on Wednesday at the Annex Auditorium of Hotel Sheraton in Banani, Dhaka, after a dialogue titled ‘The Law Compass Dialogue’ organized by the Institute of Strategy and Tactics Research (ISTR) with various donor agencies. Amin said the government initially faced some crises but managed them through international negotiations, alternative sourcing, and discussions with domestic and foreign stakeholders.

He emphasized that despite global challenges, Bangladesh’s fuel supply remains stable and the country is in a strong position in the energy sector. Amin also highlighted that the government formed after the thirteenth national election is working to fulfill its electoral promises under Prime Minister Tarique Rahman’s leadership. He noted that progress is being made in health, education, agriculture, and infrastructure, and that the law and order situation remains stable.

Amin expressed optimism that Bangladesh will continue to move forward by turning challenges into opportunities and fostering a political culture free from misinformation.

The leadership of the National Pension Authority, the agency implementing the Universal Pension Scheme, has changed. Dr. Md. Suratuzzaman has taken charge as the new Executive Chairman, while Sheikh Kamrul Hasan has joined as a member. The appointments were made through a notification from the Finance Division under the Ministry of Finance. Dr. Suratuzzaman, from the 15th batch of the BCS (Administration) cadre, has been appointed on a two-year contractual basis.

According to the announcement, Dr. Suratuzzaman previously served in several key administrative roles, including as Assistant Private Secretary to former Prime Minister Begum Khaleda Zia. He has also been involved in social activities and writing. Sheikh Kamrul Hasan, from the 15th batch of the BCS (Audit and Accounts) cadre, has been appointed as a member for one year on a contractual basis.

Hasan has held leadership positions in various financial institutions and served as Chief Accounts Officer, Finance Controller (Army), and Divisional Controller of Accounts. He also worked in senior roles in the Board of Investment, Ministry of Shipping, and Ministry of Fisheries and Livestock, and served as First Secretary (Commercial) at the Bangladesh Deputy High Commission in Kolkata.

Australia has announced the creation of a national fuel reserve of 1 billion liters to address the global energy crisis triggered by the ongoing war in the Middle East. Prime Minister Anthony Albanese made the announcement on Wednesday, stating that the government-owned stockpile will primarily ensure long-term supplies of diesel and aviation fuel. He emphasized that the main goal is to protect Australia from the negative impacts of the current crisis. Details of the plan are expected to be presented in next week’s national budget.

Energy Minister Chris Bowen noted that although Australia is one of the few members of the International Energy Agency, it previously had no national fuel reserve. He said the government is preparing for potential future shocks as global conditions become increasingly unstable. Australia currently has only two oil refineries, making it highly vulnerable to disruptions in global supply chains.

The country relies heavily on the Strait of Hormuz for fuel imports, a route that has been nearly closed since February 28 following U.S. and Israeli attacks toward Iran, severely affecting global oil and gas transport.

A 23-member Pay Commission led by former finance secretary Zakir Ahmed Khan has submitted a comprehensive report recommending significant salary and allowance increases for Bangladesh’s government employees. The proposal, if implemented, could more than double current pay levels. The commission suggested raising the minimum basic salary from 8,250 taka to 20,000 taka and the maximum from 78,000 taka to 160,000 taka, with overall increases ranging from 100 to 140 percent.

The government currently spends 1.31 trillion taka annually on 1.4 million employees and 900,000 pensioners. Implementing the new structure could require an additional 1.06 trillion taka. Separate reports have also been prepared for the Judicial Service Pay Commission and the Armed Forces. A 10-member high-level committee led by the Cabinet Secretary has been formed to analyze all three reports and finalize a phased implementation plan.

The proposed pay scale aims to reduce the salary ratio between the highest and lowest grades from 1:9.4 to 1:8 while keeping the existing 20-grade structure. Special pay steps have been recommended for top administrative positions, to be announced later by official notification.

The Bangladesh government spent Tk 71,253 crore on interest payments for domestic and foreign loans during the first six months of the current fiscal year (July–December), marking a 22 percent increase from the same period last year, according to the Finance Ministry’s latest quarterly debt bulletin. In the previous fiscal year’s first half, interest payments totaled Tk 58,392 crore.

The bulletin shows that domestic debt accounted for the largest share, with Tk 61,866 crore paid in interest—25 percent higher than the previous year—while foreign loan interest rose by 5 percent to Tk 9,387 crore. The report attributes the rising debt servicing burden to lower-than-targeted revenue collection, which has forced the government to rely more heavily on borrowing, particularly from domestic banks. Revenue shortfall in the first nine months reached nearly Tk 1 trillion, a record level.

The bulletin notes a strategic shift toward domestic borrowing to reduce currency risk and stabilize liquidity. As of December, total government debt stood at Tk 22.06 trillion, up from Tk 21.44 trillion in June 2025.

The National Board of Revenue (NBR) of Bangladesh has set a target to bring 2 million new business entities under VAT registration in the 2026–27 fiscal year. The plan includes expanding VAT coverage to all upazilas, particularly in rapidly growing business areas, and incorporating temporary shops in Dhaka with high sales volumes. Businesses with annual transactions up to 3 million taka will remain exempt from mandatory VAT registration. Currently, about 795,000 businesses are registered for VAT.

NBR data shows that during a special campaign in December of the previous year, 131,000 new businesses registered for VAT, surpassing the monthly average of 8,000–10,000. Since VAT was introduced in 1991, only around 800,000 businesses have registered. Business groups have urged the government to expand VAT coverage instead of raising rates, arguing that compliant taxpayers face disproportionate burdens.

The NBR also plans to simplify and digitalize the VAT system, including mandatory online return filing, simple software for small businesses, and a possible minimum monthly VAT of 500–1,000 taka payable semiannually or annually.

Depositors from five banks staged a protest in Chattogram on Wednesday morning demanding the return of their deposits. The demonstration took place around 10 a.m. at the city’s New Market intersection under the banner of the ‘Combined Islamic Bank Depositors Association’—Chattogram Division.

Participants expressed anger over remarks by a Bangladesh Bank spokesperson, calling for the withdrawal of what they described as defamatory comments. One depositor said they were becoming destitute while being unfairly labeled as wrongdoers. The association’s president, Abul Kalam Azad, warned that the movement could expand if their demands were not met, emphasizing that depositors’ money sustains bank operations.

Kotwali Police Station’s officer-in-charge Aftab Uddin said the area is a VIP zone with key installations, so protesters were asked to gather at New Market intersection but later moved to Alkaran intersection. He confirmed that adequate police were deployed to maintain security.

Global oil prices declined for a second consecutive day after U.S. President Donald Trump hinted at a possible peace agreement with Iran. According to a Reuters report, Brent crude dropped by $1.69, or 1.5 percent, to $108.18 per barrel, while West Texas Intermediate (WTI) crude fell by $1.67, or 1.6 percent, to $100.60. The previous day, Brent had already fallen by nearly 4 percent.

Analysts said Trump’s announcement suggested a potential easing of tensions in the Middle East. He stated that U.S. operations in the Strait of Hormuz would be temporarily suspended to ensure safe navigation and that there was a chance for an understanding with Iran, though he provided no details. Iran has not yet issued any response. Experts believe that if shipping in the Gulf normalizes, global oil supply could increase, putting downward pressure on prices, though full stability may take time.

Despite the peace signals, Trump confirmed that the U.S. naval blockade on Iranian ports would continue. Analysts noted that while short-term relief has returned to the market, geopolitical uncertainty remains.

The crude oil carrier MT Ninemiya entered Chattogram waters on Wednesday, heading to the Kutubdia channel anchorage before noon. According to Bangladesh Petroleum Corporation (BPC), customs formalities will be completed there, and lightering will begin before evening to transport the crude oil to the Eastern Refinery jetty. Two lighter tankers were dispatched early Wednesday, and unloading at the refinery depot is expected to finish by night. Preparations are underway to restart all refinery units on Thursday morning.

BPC sources said Eastern Refinery, the country’s only state-owned oil refinery, imports crude oil from Saudi Arabia for processing and marketing through BPC. The Bangladesh Shipping Corporation (BSC) handles crude transport. Due to a two-month supply disruption, two of the refinery’s three main units were shut down. The refinery is now preparing to resume full operations after 22 days of closure.

BSC officials explained that shipping through the Hormuz Strait was suspended due to war, prompting Bangladesh to use Saudi Arabia’s Yanbu port as an alternative route. The refinery used the downtime to repair two major units, which are now expected to increase production capacity.

Raw jute exports from Bangladesh have remained suspended for eight consecutive months, causing widespread frustration among farmers, exporters, and workers. The government initially imposed the restriction to protect jute mills from raw material shortages, but the ban has persisted far longer than expected. Only 18 companies with prior telegraphic transfers have been allowed to export 6,377 tons of jute, mostly to India. The Bangladesh Jute Association (BJA) reports that the interim government’s September 2025 directive made raw jute a conditional export item, effectively halting exports.

BJA Chairman Khandaker Alamgir Kabir said the ban has disrupted the sector, leaving exporters burdened with rent, loan interest, and wages despite no income. Farmers and suppliers are suffering losses as mill owners have reduced purchase prices, while around 100,000 workers have become jobless. Kabir alleged that the former textile and jute adviser imposed the ban unilaterally to benefit mill owners, many of whom he is linked to. Business leaders have repeatedly urged the government to lift the ban, warning that continued restrictions could discourage jute cultivation.

Exporters have requested the new government to withdraw the letter of credit restrictions to resume normal trade operations.

Chevron Chairman and CEO Mike Wirth has warned that the closure of the Hormuz Strait, caused by the ongoing conflict between Iran and the United States-Israel alliance, is triggering a real shortage in global oil supply. Speaking at a Milken Institute discussion on Monday, Wirth said that with 20 percent of the world’s oil shipments halted, demand will have to decline to match tightening supply, leading to an economic slowdown that will first hit Asia.

Wirth explained that Asia’s heavy dependence on Gulf oil production and refining makes it the most vulnerable region, followed by Europe. He noted that commercial surpluses, shadow fleet tankers, and strategic reserves are nearly exhausted. The United States, as a net exporter of crude oil, will be less affected initially but will eventually feel the impact as well. The last Gulf shipment is currently being unloaded at Long Beach port in California.

The Chevron chief compared the potential scale of the disruption to the oil crises of the 1970s. The report also noted that U.S.-based Spirit Airlines has ceased operations due to soaring jet fuel prices linked to the supply disruption.