Pakistan’s state-owned Oil and Gas Development Company Limited (OGDCL) has announced the discovery of new oil and natural gas reserves in Khyber Pakhtunkhwa province. According to a notice filed with the Pakistan Stock Exchange, production has begun from the exploratory well ‘Baragzai X-01’ in Kohat district, yielding approximately 3,100 barrels of crude oil and 8.15 million cubic feet of natural gas per day. Two other wells in the same area are already producing oil and gas.

OGDCL stated that the new discovery will help narrow the gap between domestic energy demand and supply while boosting Pakistan’s hydrocarbon reserves. With the addition of the new output, the Baragzai fields are now producing about 9,480 barrels of oil daily, accounting for roughly 14.5 percent of the country’s total crude oil production. Pakistan currently produces around 66,000 barrels of crude oil per day.

The announcement comes as Pakistan intensifies efforts to expand domestic oil and gas production and reduce dependence on costly imports amid ongoing economic challenges. Last year, the government signed five exploration agreements with local and international companies for three offshore and two onshore blocks.

Bangladesh Bank has proposed a new rule limiting bank directors to a maximum of three consecutive months of leave per year, as part of the draft Bank Companies (Amendment) Ordinance 2025. The proposal aims to strengthen governance after reports that many directors remained absent for extended periods while retaining their positions. The draft has been published by the Financial Institutions Division of the Ministry of Finance for stakeholder feedback, and a meeting chaired by Secretary Nazma Mobarek was recently held to discuss it.

The draft also includes a proposal to restrict individuals, families, or institutions from holding significant shares in multiple banks simultaneously. Under the proposed rule, anyone holding 2% or more of a bank’s shares cannot hold 2% or more in another bank. The Association of Bankers, Bangladesh (ABB) has opposed this shareholding restriction, arguing that general shareholders do not directly influence bank policy decisions. However, Bangladesh Bank officials maintain that the measure is necessary to prevent excessive control by business groups that have previously harmed the sector.

If enacted, the new law would automatically cancel the position of any director absent from board meetings beyond the permitted period, ensuring stricter accountability in bank governance.

A severe shortage of lighter vessels has caused a major operational crisis at Chattogram port, where more than 85 mother vessels carrying over 300,000 tons of goods are stranded at the outer anchorage. Importers are reportedly paying daily waiting charges of 12,000 to 15,000 dollars per vessel, which is expected to impact consumer prices. Business groups fear the situation could worsen ahead of Ramadan.

Officials said large ships cannot dock directly at the port due to insufficient draft, requiring goods to be unloaded onto smaller lighter vessels for inland transport. Although about 1,500 lighter vessels exist on paper, fewer than 1,000 are active. Around 40 percent of vessels are currently stuck elsewhere, many being used as floating warehouses by fertilizer importers and industrial groups. The Bangladesh Water Transport Coordination Cell (BWTCC) has been unable to meet demand for over a month, intensifying the congestion.

Port authorities have launched enforcement drives against vessels idling for more than 72 hours, while business leaders call for coordinated action among port, transport, and vessel owners to resolve the crisis and prevent further disruption to essential commodity supply.

Bangladesh Bank has decided to provide a 4 percent annual profit rate to depositors of five banks currently undergoing a merger process for the years 2024 and 2025. The central bank communicated this decision to the administrators of the five banks through an official letter issued on Wednesday. This move replaces an earlier decision to suspend profit payments for the same period, which had sparked strong dissatisfaction among depositors.

According to a directive from the Bank Regulation Department, the earlier suspension of profit on fixed-term deposits under the Islamic Bank Company formation and expansion regulations has been reconsidered. The revision came following appeals from depositors and to maintain normal banking operations. Under the new decision, the 4 percent profit rate will apply to personal (non-institutional) deposits from January 1, 2024, to December 28, 2025.

Banks have been instructed to recalculate deposit balances as of the last working day of 2025 and submit revised statements to the central bank within three working days. If any depositor has already received a higher profit, the excess will be adjusted against future earnings, while previous instructions remain valid for deposits not covered by the new decision.

U.S. President Donald Trump said that tariffs imposed by his administration were targeted only at countries with which the United States has trade deficits. Speaking at the annual World Economic Forum in Davos, Switzerland, Trump described the decision as fair and claimed that most people understand the reasoning behind it. He acknowledged that some have been negatively affected but maintained that the overall policy was justified.

Trump also stated that in some cases, tariff rates had been reduced. He cited Switzerland as an example, noting that an initial 30 percent tariff was later lowered because he did not want to cause harm to people. During his remarks, Trump further asserted that the United States is sustaining the entire world.

The comments, reported by the BBC, reflect Trump’s continued defense of his trade policies on the global stage, emphasizing fairness and national interest as key motivations behind the tariff measures.

Food and Land Adviser Ali Imam Majumder said rice prices are expected to decrease within the next few days. He made the remark on Wednesday afternoon while speaking to journalists at the Kushtia Collectorate premises before attending a meeting on referendum campaigning and voter motivation. Majumder stated that the government has initiated the process to import about 600,000 tons of rice, while private importers have received approval to bring in another 200,000 tons. He said the impact of these imports would benefit consumers, and the government currently holds a record stock of 2.1 million tons of rice.

Addressing the recent price rise in Kushtia markets, Majumder said discussions with mill owners revealed that prices had increased by about two taka but would likely drop within a few days. He added that from the next day, Open Market Sale (OMS) operations would run daily in every upazila, and import permissions through letters of credit from neighboring countries had been granted. Majumder also emphasized that the government aims to maintain stability and prevent unrest similar to that of 2024 through reforms and coordination with political parties and experts.

He further instructed local administrations to ensure a fear-free environment for voters and to take action against anyone attempting to disrupt the election process.

Bangladesh Bank Governor Ahsan H. Mansur stated that the country’s current 61 banks far exceed its actual needs, suggesting that 10 to 15 banks would be sufficient. He made the remarks on Wednesday at Jagannath University during a discussion titled “Banking Sector: Current Challenges and Future Prospects.” Mansur emphasized that reducing the number of banks would make it easier to ensure good governance. He added that the government plans to merge state-owned banks, keeping only two in operation.

The governor warned that personal or individual-centric decisions should not influence the banking sector, noting that a lack of proper governance has pushed the sector toward crisis. He stressed the need for comprehensive reforms across all areas of banking. Jagannath University Vice-Chancellor Professor Dr. Rezaul Karim, speaking as a special guest, said the governor’s leadership is crucial in reviving a nearly collapsed sector. He expressed optimism that ongoing initiatives would help restore stability and sustain positive progress.

The event was attended by faculty members, students, and economists including Professor Dr. Mahbub Ullah and Dr. Mohammad Helal Uddin.

The Bangladesh government will provide an additional Tk 10 million to the family of Shaheed Sharif Osman Hadi, spokesperson of Inquilab Mancha, for their livelihood. Economic adviser Dr. Salehuddin Ahmed announced that the amount will come from the Chief Adviser’s Fund. Earlier, the Ministry of Finance approved another Tk 10 million for the purchase of a flat or house for the family. The announcement was made on Wednesday after a meeting of the government’s advisory committee on public procurement at the Secretariat.

According to the Finance Division, the Housing and Public Works Ministry had applied for a grant to buy a flat for Hadi’s family. The proposal was approved on the condition that the identities of Hadi’s wife and children are verified. The allocation covers the purchase and furnishing of a 1,215-square-foot apartment in the government’s Doel Tower at Lalmatia, Dhaka. The ministry will use part of its existing Tk 60 million residential building budget for the current fiscal year.

The allocation requires compliance with all financial regulations, inclusion in the revised 2025–26 budget, and return of any unspent funds to the treasury by June 30.

The government of Bangladesh has approved the purchase of 27.15 million liters of refined soybean oil from the international market at a cost of Tk 357.62 crore, with each liter priced at Tk 131.49. The decision was made on Wednesday at a meeting of the Cabinet Committee on Government Purchase, chaired by Economic Adviser Dr. Salehuddin Ahmed. The procurement will be conducted under the Direct Purchase Method (DPM) to ensure adequate supply and market stability ahead of the holy month of Ramadan.

According to meeting sources, the Ministry of Commerce proposed the urgent import to meet increased demand during Ramadan. After evaluation by the tender committee, the purchase was finalized from Canada-based NSRIC Green Supplies Inc. Officials stated that the oil will be sold in the open market at a price lower than the government-fixed rate but not below the purchase cost, meaning no subsidy will be required. Consumers will access the product through the Trading Corporation of Bangladesh (TCB).

The meeting also approved the import of 30,000 metric tons of bagged granular urea fertilizer from Karnaphuli Fertilizer Company Limited (KAFCO) for the 2025–26 fiscal year at a cost of Tk 149.17 crore.

Private airline Novoair has announced an increase in flight frequency on the Dhaka–Chattogram route to meet growing passenger demand and improve travel convenience. Starting January 26, 2026, the airline will introduce an additional flight on this route, operating every Monday, Tuesday, Wednesday, and Thursday. Currently, Novoair operates one daily flight between Dhaka and Chattogram, departing Dhaka at 1:15 p.m. and returning from Chattogram at 2:40 p.m.

According to Novoair Managing Director Mofizur Rahman, Chattogram is a key commercial and tourism hub in Bangladesh, and the decision to expand service reflects increasing passenger needs and the company’s commitment to better connectivity. The new flight will depart Dhaka at 4:15 p.m. and return from Chattogram at 5:40 p.m. on the specified days.

In addition to the Chattogram route, Novoair currently operates regular flights to Cox’s Bazar, Sylhet, and Saidpur, maintaining its focus on domestic air connectivity within Bangladesh.

The full meeting of the Ninth National Pay Commission concluded on Wednesday, finalizing recommendations for a new pay structure for government employees and pensioners. According to meeting sources, the commission has proposed increasing government employees’ salaries by 100 to 147 percent, setting the lowest salary at 20,000 taka for the 20th grade and the highest at 160,000 taka for the first grade.

The proposed pay scale also includes significant pension increases. Pensioners currently receiving less than 20,000 taka per month would see their pensions doubled, while those receiving between 20,000 and 40,000 taka would get a 75 percent increase. Pensioners earning more than 40,000 taka would receive a 55 percent rise. Additionally, the commission suggested raising medical allowances for elderly pensioners, recommending 10,000 taka for those over 75 years old and 5,000 taka for those under 55.

Officials said the recommendations were finalized after extensive discussions and reviews. The report will be submitted to the government for verification and approval before the new pay and pension structures are implemented.

The National Pay Commission is set to propose a new pay scale for government employees, raising the maximum salary to Tk 160,000 and the minimum to Tk 20,000. The commission will submit its final report on the ninth national pay scale to the Chief Adviser on Wednesday afternoon at the State Guest House Jamuna. The meeting is scheduled for 5 p.m., following a preparatory session held earlier in the day at the Secretariat.

According to commission sources, the proposed pay structure includes salary increases ranging from 100 to 147 percent, with proportionally higher raises for lower-grade employees. The commission has recommended partial implementation from January 1, 2026, and full execution from July 1, 2026, marking the start of the 2026–27 fiscal year. Economic Adviser Dr. Salehuddin Ahmed noted that not all recommendations may be implemented exactly as proposed but expressed confidence that government employees would be satisfied.

The 21-member commission, led by former finance secretary and PKSF chairman Zakir Ahmed Khan, was formed on July 27 of the previous year and tasked with submitting its report within six months.

The National Pay Commission, led by former finance secretary Zakir Ahmed Khan, has finalized recommendations for a new salary structure for Bangladesh’s government employees. The proposal suggests increasing basic pay by 100 to 147 percent, raising the minimum salary in the 20th grade from Tk 8,250 to Tk 20,000 and the maximum in the 1st grade from Tk 78,000 to Tk 160,000. The report is scheduled to be formally submitted to Chief Adviser Professor Dr. Muhammad Yunus at 5 p.m. on Wednesday.

According to the proposal, the new structure would take effect partially from January 1 and fully from July 1. Finance Adviser Dr. Salehuddin Ahmed stated that after submission, several committees will review the report, a process expected to take three to four months. The recommendations also include major revisions to housing and transport allowances, with the Boishakhi allowance proposed to rise from 20 to 50 percent and transport benefits extended up to the 10th grade.

For pensioners, the commission proposed significant increases, including a 100 percent rise for those receiving less than Tk 20,000 per month and smaller increments for higher pension brackets.

Venezuela’s interim president Delcy Rodríguez announced that the country has received 300 million U.S. dollars from oil sales. Speaking on Tuesday, she said the payment represents the first installment under a 50-million-barrel oil supply agreement announced by U.S. President Donald Trump with Caracas. The deal came into effect earlier this month following the detention of President Nicolás Maduro.

According to Reuters, the Venezuelan government informed four domestic banks that the 300 million dollars, held in an account in Qatar, would be distributed among them. The funds will allow banks to sell dollars to local companies facing foreign currency shortages so they can pay for raw materials and essential imports. Rodríguez said the money, part of an initial 500 million dollar tranche, will be managed by the national and central banks to stabilize the currency market and protect workers’ income and purchasing power.

On the same day, lawmaker Jorge Rodríguez stated that a proposal to reform the country’s main oil law could be discussed this week. The reform aims to attract foreign investment and build on existing partnership models introduced under Maduro’s administration.

Bangladesh’s domestic textile industry, with investments worth about $25 billion, is facing severe pressure due to a surge in low-priced yarn and fabric imports from India. The Bangladesh Textile Mills Association (BTMA) reported that since 2022, yarn imports from India have risen sharply—from $429 million in 2022 to $2.28 billion in 2024—now accounting for 95 percent of total yarn imports. Despite a government ban on land-route imports in August 2024, Indian exporters have continued shipments by sea at dumping prices, supported by export subsidies of 3.88 percent per kilogram.

BTMA and local mill owners warn that aggressive Indian pricing has forced many domestic mills to shut down, with over 30 closures in three years. The Ministry of Commerce has proposed ending bonded warehouse facilities for certain yarns to protect local spinners, while garment exporters’ associations BGMEA and BKMEA oppose the move, citing higher production costs and reduced export competitiveness. Industry leaders are urging policy support, lower bank interest rates, and stronger oversight at land ports to prevent further losses.

The ongoing dispute underscores tensions between protecting domestic textile producers and maintaining competitiveness in Bangladesh’s export-oriented garment sector.