Bangladesh Bank has instructed the banks to keep 100% cash margin on import of 14 luxury goods including gold, cosmetics, processed food, soft drinks and leather goods to earn foreign exchange.

On Thursday (September 5), the Banking Regulations and Policy Department (BRPD) of the central bank issued instructions in this regard.

According to the instructions of the Central Bank, in the context of global economic instability, the country's currency and debt management have been made more coherent.

100 percent cash margin will be maintained in establishment of import credit for luxury goods and locally manufactured import substitutes.

Commodities, Motorcars, Electronics Home or Office Appliances, Gold and Jewelery, Precious Metals and Pearls, Readymade Garments, Leather Goods, Jute Goods, Furniture and Decorative Items, Fruits and Flowers, Non-Cereal Foods, Processed Foods and Beverages or Canned (Cans) ) 100 percent cash margin has been fixed on imports of food, chocolate, biscuits, juice, coffee, soft drinks etc., alcoholic beverages and tobacco, tobacco products or substitute products.

After the fall of Sheikh Hasina's government, everyone's question was how much is the real reserve of the country. Finally, Bangladesh Bank Governor Ahsan H Mansoor has informed about the country's expendable foreign currency reserves.

In response to a question at an event named Khaled Muhiuddin in an address on Thursday (August 5) night, he said, currently our reserves amount to 20.5 billion dollars. This is according to the International Monetary Fund (IMF) definition. Not according to the previous government's definition.

In response to journalist Khaled Muhiuddin's question about how much Bangladesh's reserves are at the moment, the governor of Bangladesh Bank said that the reserve has increased by 300 million dollars in the last one week. And after I took charge of the central bank, we have not sold a single dollar in the market. We are rather buying reserves. Every day we buy 50 million dollars from the market.

He further said, "Our aim is to bring inflation down to a level within the next 4-5 months." Likes are between 7 and 8 percent, bringing it to 4/5 percent within the next one year.

The central bank has been hiding that account for so long. However, even if the net or real reserve account was not disclosed, it was given to the International Monetary Fund-IMF.

Many gave the idea that during the Sheikh Hasina government the reserve has come down to zero. Many of you are doing good work, but you are not entirely responsible for this 20.5 billion dollar reserve. In response to Khaled Muhiuddin's question, Ahsan H. Mansoor said that it is not true that the reserve quota fell to zero during Sheikh Hasina's government. However, the Sheikh Hasina government was following the advice of the IMF in the end and took many good policies.

On June 24, the IMF approved the third tranche concession under the 4.7 billion dollars loan agreement for Bangladesh. Earlier, in February last year, Bangladesh received 47 crore 63 lakh dollar in the first installment of the loan approved by the organization. And last December received the second installment, amounting to 68 crore 10 lakh dollars. Now, as a result of the third tranche concession, Bangladesh has received a total of 231 crore dollars from the IMF in three installments. The remaining 239 crore dollars of the loan will be available in four more installments.

According to the data of Bangladesh Bank, at the end of March of this year, the amount of foreign debt of Bangladesh decreased to 99.30 billion or 9 thousand 930 billion dollars, which was 100.64 billion or 10 thousand 64 crore dollars at the end of last December. In other words, foreign debt decreased by 1.34 billion dollars or 134 crore dollars in three months. If you take a new loan, another 100 crore dollars will be released from the foreign debt.

According to international norms, an average of 40 percent of GDP is debt standard. Now the debt rate of Bangladesh has become 35 percent. This loan rate depends on the capacity of different countries. Currently our debt burden is not less than our capacity. Analysts are of the opinion that it should be thought in advance about how much this pressure can be handled.

Several garment factories in Savar, Ashulia and Gazipur are closed due to labor unrest. However, due to the assurance of security by law and order forces, it has been decided to keep all garment factories open from tomorrow Thursday, said Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Khandaker Rafiqul Islam.

He gave this information in an emergency briefing at the BGMEA complex in Uttara of the capital on Wednesday (September 4) afternoon regarding the prevailing labor situation in the garment industry. Senior officers from NSI, Industrial Police, Bangladesh Army were present in that meeting.

Meanwhile, at least 70 garment factories were declared closed in Ashulia of Savar in the face of several days of continuous agitation by garment workers. The workers are protesting for various demands.

A general holiday has been observed in garment factories since Wednesday morning in Ashulia's Jirabo, Ghoshbagh, Sarkar Market, Narsinghpur, Nischintpur and Pallividyut areas of Savar due to labor protests.

In such a situation, after a meeting on labor dissatisfaction in the meeting room of the Ministry of Home Affairs at the secretariat on Wednesday afternoon, Labor and Employment Adviser Asif Mahmud Sajib Bhuiyan said that outsiders including Awami League people are behind the movement of the workers of Savar, Ashulia and other sectors including garment industries in Gazipur. He said that the action will start from today to stop the unrest in the industrial area.

In the meeting chaired by Home Affairs Advisor Lieutenant General (Retd)Md. Jahangir Alam Chowdhury, Law Adviser Dr. Asif Nazrul, Fisheries and Livestock Adviser Farida Akhtar, Industrial Adviser Adilur Rahman were present.

The Labor Adviser said, we have held several meetings with the owners and the workers regarding the workers' dissatisfaction. Our Industry adviser is also speaking. We have come to know this from all the labor leaders. The labor leaders themselves are not able to understand the nature of the movements that are happening now because there is no specific claim coming up here. No specific demands are available.

The Interim government is taking a tough stand to suppress the ongoing discontent surrounding the country's garment industry. He expressed hope that the situation will return to normal soon.

Meanwhile, the workers said that the workers have been protesting for several days in different garment factories for various demands. The owners accepted some of their demands on Tuesday. But now the owners say that it is not possible for them to accept those demands. The garment workers of various factories got excited and protested in front of the factory and on the road.

In the month of September, the price of 12 kg LP gas has been increased by Tk. 44 to Tk. 1421. Auto gas has been fixed at Tk. 65.26 per litre. The new rates will be effective from 6 p.m.

Bangladesh Energy Regulatory Commission (BERC) chairman Jalal Ahmed announced the new price on Monday (September 2) at 3 pm.

In August, the price of 12 kg LP gas was Rs 1377. And the price of auto gas per liter was Tk. 62.70.

Till April 12, 2021, LPG rates were at the discretion of the companies. At the time of the price announcement by BERC on April 12, it was said that this import-dependent fuel will be based on the price announced by Saudi state company Aramco.

If Saudi prices go up and down, the base price will go up. Other commissions will remain unchanged. BERC has been announcing LPG rates every month since the announcement. However, consumers are complaining about the prices announced by BERC in the market. Their complaint is that it is not available in the market at the fixed price. Sellers are charging arbitrary prices. There are reports of punishment in the least cases.