Bangladesh Economy

Govt importing Indian rice via Singapore to keep prices stable

Although the supplier is from Singapore, the rice is sourced in India, says finance advisor​


Govt importing Indian rice via Singapore to keep prices stable



The government has decided to import rice from India to keep rice prices stable in the market, said Finance Advisor Salehuddin Ahmed.

He shared the information while talking to reporters after a meeting of the Advisory Council Committee on Government Procurement at the Secretariat on Monday. He said that although the supplier was from Singapore, the rice was sourced in India.

He said, "The price of rice has stabilised a little, and is increasing again. Therefore, to ensure that rice prices do not increase, we will import non-basmati rice again."



When asked which country the rice would be imported from, the advisor said: “The non-Basmati rice will come from India. The prices are competitive. However, the supplier is from Singapore.”

"Because, we can’t ask them not to bring from India, or Thailand, Myanmar. They will look for the best price. We’re not biased against any… We’ve focused on quality, timely delivery and proper price.”

He also highlighted that the government wants to present a revised budget by December.

https://bdnews24.com/business/0146d9ddc742

The stupidity of these imbeciles have crossed all limits. We r buying Indian rice from Singapore instead of buying it directly from India. Lol.
 
SoulSpokesman said:
@Prince_

Rajputro bhai, Have they fixed the real GDP?

Regards
Click to expand...
Haha, barking dogs seldom bite, man. They have used that rhetoric to demean Hasina’s achievements. Nothing else. These clowns have no real ability and they’re just clinging onto the economic progress Hasina built and sucking the life out of it.
 
Prince_ said:
The stupidity of these imbeciles have crossed all limits. We r buying Indian rice from Singapore instead of buying it directly from India. Lol.
Click to expand...
Do you even read before you post?
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Prince_ said:
"Because, we can’t ask them not to bring from India, or Thailand, Myanmar. They will look for the best price. We’re not biased against any… We’ve focused on quality, timely delivery and proper price.”
Click to expand...
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Do you understand anything in that above quote? Singapore origin company offered us more competitive price than any company from your father land. You awami telegram bot...
 
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AbuShalehRumi said:
You're the stupid, imbecile and the lowlife here. Do you even read before you post?
.

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Do you understand anything in that above quote? Singapore origin company offered us more competitive price than any company from your father land. You awami telegram bot...
Click to expand...

Ur post clearly shows the depth of your understanding regarding the basic rules of export and import. Most of the time, you resort to personal remarks, because presenting arguments with logic is obviously something beyond your intellectual ability.

Do I get mad at your remarks? Oh, not at all. I actually feel pity for you. As the wise have always said, when debate is lost, slander becomes the tool of the loser.

The basic principle of business is simple.
Buying directly from the first party is always cheaper than buying from a second party, because a middleman will naturally add his own profit before selling to the customer.

But in order to satisfy the whims of some anti India dumbs currently roaming the streets of Bangladesh, this government is buying Indian produced rice, sometimes from the Middle East, sometimes from Singapore and then claiming they’re getting a better price. Laughable right? The stupidity truly knows no bounds.

It’s like claiming that buying vegetables from the stockholder at Karwan Bazar is somehow cheaper than buying them from the actual farmer who produced them.

But then again, what else can we expect from these clowns.
 

Rooppur nuclear plant project cost to rise by Tk26,181cr after exchange rate adjustment​


The total cost of the country's first nuclear power plant, the Rooppur Nuclear Power Project, is rising by Tk26,181.26 crore due to another adjustment of the exchange rate, which is 23.15% higher than the original estimated cost.

Earlier, at the beginning of November, the science and technology ministry had submitted the first revised project proposal to the Planning Commission, proposing a cost increase of 11.84% or Tk13,386.21 crore for the Rooppur project.

Following a meeting of the Project Evaluation Committee (PEC) on 11 November, it was found that the impact of foreign exchange rate changes had not been accurately reflected in the first revised proposal. As a result, the total project cost in Bangladeshi taka had not been correctly calculated.
The implementing agency then re-adjusted the calculations and, on 27 November, sent a revised proposal to the Planning Commission, raising the project cost to Tk1,39,274.17 crore.

In the original proposal approved in 2016, the project cost was set at Tk113,092.91 crore.


Although the project cost has increased, Russia's $11.38 billion credit remains unchanged in dollar terms. However, calculated in taka, the foreign loan now stands at Tk1,16,799 crore. In the original proposal, Russia's loan was estimated at Tk91,040 crore.

According to the proposed Development Project Proposal (DPP) exchange rate, the utilisation of DPA up to June 2025 is $8.29 billion, calculated at an exchange rate of Tk95.28 per dollar. For the remaining three years, DPA amounting to $3.09 billion has been estimated at Tk122 per dollar (the Bangladesh Bank rate on 16/11/2025).


In the revised proposal initially submitted by the Atomic Energy Commission, the $8.29 billion already spent was calculated at $1 = Tk80. After the PEC meeting, the exchange rate was updated to $1 = Tk95.28.


According to the newly revised proposal, the government-fund portion, initially set at Tk22052.91 crore, has increased to Tk22475.04 crore.

With the increased expenditure, the project duration has also been extended. The original plan, which began in July 2016, was scheduled to conclude in December 2025. The revised proposal, according to Planning Commission sources, recommends extending the project period to June 2028.


Officials at the Planning Commission state that unless the total cost is accurately determined, the cost per unit of electricity produced at Rooppur cannot be properly assessed, nor can the project's cost–benefit analysis be correctly determined. This issue was discussed in detail at the PEC meeting. After extensive discussion, it was decided that the revised project cost would be recalculated using the actual exchange rate for funds already spent and the updated rate for future expenditure.

The Rooppur NPP is being implemented under an intergovernmental agreement (IGA) between the Russian Federation and the Government of Bangladesh. The Bangladesh Atomic Energy Commission (BAEC) signed a contract with Russia's Atomstroyexport in December 2015 to construct two NPP units with a combined capacity of 2,400 MW, including equipment supply, training, and fuel delivery.

According to the first revised proposal, the first unit will begin commercial production in 2026.

Earlier, the plan was to start electricity generation from Unit 1 of the Rooppur NPP in December this year. Unit 2 was scheduled to begin production in December 2026. Officials say that since Unit 1 has been delayed, Unit 2 will also be pushed back.

https://www.tbsnews.net/bangladesh/...ease-tk26181cr-after-exchange-rate-adjustment
 
3876.jpg
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Our debt pressure is already constraining the economy. :NBR Chairman
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My 2 cents with pure economic language:
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The report correctly sounds the alarm, but our debt-to-GDP ratio (~40%) remains within manageable limits.

The true vulnerability is not the debt stock, but the revenue base! With revenue at a critically low ~8% of GDP, debt servicing consumes nearly ~30% of government income, crippling the public investments. Combined with high dollar based foreign borrowings and forex reserve pressure. This is the risk.

The solution isn’t to stop borrowing, but to radically improve tax administration and channel funds into high-return projects.
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Now some rants:
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Ousted fascist government kept borrowing USD for their siphoning purpose. Now even with our medium ~40% debt-to-GDP ratio our economy is suffering because they never bothered to think about we have to pay those debts back. With only ~8% tax-to-GDP ratio, our debt servicing is constraining Yunus admins economic recovery efforts.
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Even Afghanistan has better tax-to-GDP ratio than Bangladesh... 😑
 
AbuShalehRumi said:
View attachment 164389
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Our debt pressure is already constraining the economy. :NBR Chairman
.
My 2 cents with pure economic language:
.
The report correctly sounds the alarm, but our debt-to-GDP ratio (~40%) remains within manageable limits.

The true vulnerability is not the debt stock, but the revenue base! With revenue at a critically low ~8% of GDP, debt servicing consumes nearly ~30% of government income, crippling the public investments. Combined with high dollar based foreign borrowings and forex reserve pressure. This is the risk.

The solution isn’t to stop borrowing, but to radically improve tax administration and channel funds into high-return projects.
.
Now some rants:
.
Ousted fascist government kept borrowing USD for their siphoning purpose. Now even with our medium ~40% debt-to-GDP ratio our economy is suffering because they never bothered to think about we have to pay those debts back. With only ~8% tax-to-GDP ratio, our debt servicing is constraining Yunus admins economic recovery efforts.
.
Even Afghanistan has better tax-to-GDP ratio than Bangladesh... 😑
Click to expand...


Don't worry under BNP we won't have to worry about all this because everyone of us who stays in/frequents Bangladesh will be too busy dodging bullets and hacksaws in the streets.



Also widening and strengthening the tax net should be the #1 priority of any incoming government that wants to tackle this particular issue.


Literally nobody in Bangladesh pays taxes and it's a darned shame.
 
3956.jpg
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Credit where it is due
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Flight of capital is contained, bank corruptions deterred, freedom of speech is back, Forex reserve stable, fiscal discipline improving, Indian influence reduced, US tariff is sustainable, so what else could you expect from an interim government who inherited destroyed institutions, empty banks and an unstable country?
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All while operating under immense pressure from political parties and managing multiple protests and movements.
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Yet, despite all this, the interim government still isn’t receiving due credit for the things they’ve done right.
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@Afif @LeonBlack08 @Al-Zakir @Destranator @Michael Corleone
 
AbuShalehRumi said:
View attachment 164731
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Credit where it is due
.
Flight of capital is contained, bank corruptions deterred, freedom of speech is back, Forex reserve stable, fiscal discipline improving, Indian influence reduced, US tariff is sustainable, so what else could you expect from an interim government who inherited destroyed institutions, empty banks and an unstable country?
.
All while operating under immense pressure from political parties and managing multiple protests and movements.
.
Yet, despite all this, the interim government still isn’t receiving due credit for the things they’ve done right.
.
@Afif @LeonBlack08 @Al-Zakir @Destranator @Michael Corleone
Click to expand...
Like @DalalErMaNodi suggested somewhere, IG should just cancel the election at the first instance of any violence and then stay on for another 5 years.

The government need to be more vocal about corruption and infiltration in the military and civil admin to justify postponement.

We don't need democracy when BNP and Jamat are the main contenders.
IG staying on would allow new political parties to establish themselves.
 
Destranator said:
Like @DalalErMaNodi suggested somewhere, IG should just cancel the election at the first instance of any violence and then stay on for another 5 years.
Click to expand...
Even Maj Gen ALM Fazlur Rahman is basically asking for the same thing - watch from 01:01:40:
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@Maira La

Moved the question here as desired by you

What is BD's GDP? SHW is gone for 16 months now. Have you figured it out?

Regards
 
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