Capital machinery import yet to get momentum
Import of capital machinery, professional raw materials and intermediate merchandise is yet to acquire momentum despite the pickup in monetary activity in Bangladesh as a result of the persisting coronavirus pandemic.
This will only further its already adverse impact on the economy in the days to come as uncertainty is deepening following the deadly flu started spreading once again, both locally and globally.
Between July and December of the existing fiscal year, the import of capital machinery stood at $2.65 billion, down 36.62 % year-on-year, info from the central bank showed.
The import of capital goods, however, increased 10 per cent during the period.
"The pattern indicates that businesspeople happen to be yet to get back their confidence to create new industrial systems or expand their existing ones," said Asif Ibrahim, chairman of the Chittagong STOCK MARKET.
Coronavirus infections are actually surging in some Europe, which are forcing them to impose lockdowns for the next or third times.
