Bangladesh’s economy, including the trade sector, is gradually regaining momentum due to a series of pragmatic government initiatives such as resolving the fuel supply crisis, introducing low-interest export financing, and prioritising agro-based industries.
Experts say that within around two and a half months of assuming office, the current government led by Tarique Rahman has managed to steer the economy away from a potential crisis through a range of business-friendly policy decisions.
A global energy crunch triggered by the Middle East crisis had also impacted Bangladesh. In response, the government introduced fuel subsidies and took initiatives to diversify energy import sources beyond the Middle East.
As a result of these measures, fuel imports have remained stable, ensuring uninterrupted supply for consumers and industries without major disruption. Industrial production has continued without any significant shutdowns due to fuel shortages, according to officials.
Speaking to BSS, Professor Dr. Morshed Hasan Khan, convener of the White Panel at Dhaka University, said the government acted carefully in addressing the fuel crisis.
“It ensured fuel supply to industries so that production did not halt. It also pursued diplomatic efforts to secure fuel from alternative sources. We are now seeing the results,” he said.
In the financial sector, Bangladesh Bank has resumed low-interest pre-shipment export loans that had previously been suspended. Of the Tk 10,000 crore export support pre-finance fund, Tk 5,000 crore has been allocated for this purpose.
Under the arrangement, banks will access funds at 2 percent interest and lend to exporters at a maximum of 5 percent. Exporters can use the facility to cover pre-shipment costs.
Exporters have welcomed the initiative, saying improved access to low-cost credit will help revive trade activity after a prolonged slowdown. They also noted that reduced financial pressure would help ensure timely payment of wages and benefits, easing labour-related tensions.
In addition, the central bank is working on a special refinancing scheme to provide further low-interest loans aimed at reopening closed industrial units and boosting employment opportunities. A 19-member committee led by Deputy Governor Dr. Md. Kabir Ahmed has been formed to recommend policy and financial measures in this regard.
Professor Dr. Md. Nazmul Hossain of DU Marketing department told BSS that the current pressure on the economy is largely driven by global factors rather than domestic issues.
“So far, the decisions taken by the government appear positive. We have not yet found grounds for criticism. The initiatives taken over the past two months seem constructive,” he said.
Bangladesh Garment Manufacturers and Exporters Association President Mahmud Hasan Khan Babu said the government has taken swift steps to support export-oriented sectors.
He said the Tk 5,000 crore fund at 5 percent interest would significantly benefit businesses and help boost exports.
Prime Minister Tarique Rahman recently said a joint 180-day action plan has been submitted by the Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority, Public Private Partnership Authority and Matarbari Integrated Development Authority.
Responding to a written question in Parliament on Wednesday (May 29), he said the plan aims to strengthen investment foundations through short-term improvements in administrative, institutional and infrastructure sectors.
The Prime Minister has also identified northern Bangladesh as a strategically important economic zone, with plans to develop it into an agro-processing hub to increase productivity and employment using local resources.
Bangladesh Knitwear Manufacturers and Exporters Association President Mohammad Hatem said business leaders had earlier met Tarique Rahman before the election, where he pledged to ensure a business-friendly environment if his party voted to power.
“The resolution of the fuel crisis and introduction of pre-shipment loans reflect that commitment,” he added.
