Walton Hi-Tech Industries PLs, the country’s largest consumer electronics manufacturer, recorded a massive slump in its earnings in the October-December quarter, worsening overall profitability in the first half of the financial year 2022-23.
The pharmaceuticals industry, which has made life-saving drugs available at lower costs, is facing troubles in opening letters of credit (LCs) to import much-needed raw materials and capital machinery owing to the US dollar crunch.
Now, businesses in Bangladesh are finding it difficult to open letters of credit (LCs) owing to banks' inability to provide the American greenback needed to finance imports and the central bank's restriction on non-essential imports. The stress seems to be intensifying with each passing day.
Medical treatments are about to get costlier as production cost for manufacturing drugs will go up by at least 25 per cent following a recent hike in gas and power charges, according to manufacturers. For large industries, the unit gas price has spiked nearly threefold from Tk 11.98 to Tk 30.