In the past, all international transactions between Bangladesh and any other country had been conducted through the US dollar. Trade settlement in rupees was hailed as the “first step in a great journey” by Bangladesh Bank Governor Abdur Rouf Talukder. Indian High Commissioner Pranay Verma was also there for the event, and he remarked that “the trade position between India and Bangladesh has seen remarkable growth,” thanks to the two countries working together economically.

The governor of the central bank recently announced that a dual currency card accepting both the Taka and the Indian Rupee would be released in September, thereby lowering transaction costs for trade with India. However, Bangladesh and India do semi-officially stage frontier trading in specific localities dubbed “border hut,” where modest amounts of both currencies are exchanged. Under the new formal arrangement, officials have stated that from this point forward, trade will initially be conducted in rupee and then progressively in the Bangladeshi currency of Taka upon the trade disparity between the two countries diminishing.

Nostro accounts, or accounts in the banks of other countries, have been made available to financial institutions in Bangladesh and India for the purpose of conducting foreign currency transactions. Banks and market demand will factor into the final exchange rate, according to the officials involved. The most recent Dhaka statistics show that Bangladesh buys from India at the tune of USD 13.69 billion, while exports to India are USD 2 billion. However, several economists have warned that Bangladesh’s trade imbalance may prevent it from immediately reaping the benefits of the new system.

Nonetheless, Talukder stated that he was investigating more than just this USD 2 billion transaction because “we export and import in Indian rupees, it will have an effect on the exporters and importers in both countries.””We can significantly increase our exports because Indian consumers will be able to pay in Indian rupees and treat our goods as if they were made in India.”India is a sizable market, thus this will provide us with a significant opportunity. According to India’s ambassador to Bangladesh, bilateral ties have undergone “substantial transformation” during the past decade. “One of the most important manifestations of that transformation is our visibly growing economic and commercial ties and connectivity links,” he said, adding that Bangladesh is India’s largest trade partner in South Asia and the fifth largest globally.

Trade between the two countries has doubled in the last five years, he said. Over the past three fiscal years, annual shipments to India have exceeded $1 billion, and in the most recent fiscal year, they broke $2 billion. Bangladesh’s primary export market in Asia is now India, thanks to its large and varied consumer base.

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“I am confident that this pipeline will further accelerate Bangladesh’s development and serve as a model for enhancing connectivity between the two nations,” he added.In September of 2018, the two prime ministers attended the groundbreaking ceremony for the pipeline.The recently inaugurated pipeline stretches 125 kilometres within Bangladesh and five kilometres within India and is significant for the following reasons:

First cross-border energy conduit

This is the first energy conduit between India and Bangladesh that Delhi will utilise. The Pipeline was constructed using approximately Rs 3.46 billion from the Indian Line of Credit (LoC) in order to export diesel to Dhaka and the Bangladesh Petroleum Corporation.

Price and capability

It was constructed at an estimated expenditure of Rs 377 billion. The Bangladesh section of the conduit has been constructed at a cost of approximately Rs 285 crore, which the Indian government has funded through a grant.The pipeline is capable of transporting one million metric tonnes per annum (MMTPA) of petroleum, which will initially be supplied to seven districts in northern Bangladesh.

Hope in times of adversity

Bangladesh imports the majority of the fuel required to generate electricity.Despite a rise in power demand, Bangladesh was compelled to reduce imports in 2022 due to high global prices. This resulted in a fuel scarcity that resulted in weekly hours of darkness for millions of citizens during the second half of 2022.

Economic advantages

Initially, Bangladesh would purchase approximately 2,500,000 tonnes of petroleum. It was increased to 4 to 5 million tonnes in subsequent years.The cost to transport each barrel of petroleum from the port city is approximately $8 USD.The pipeline would reduce costs to approximately $5 per litre.

It will also reduce the time it takes to transport diesel by waggons and trawlers from the ports of Chattogram and Mongla to just one hour, as opposed to the current situation where it takes several days.

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Rapid delivery at minimum expense

This pipeline would help ensure a steady supply of diesel in Bangladesh’s sixteen northern districts under Rangpur and Rajshahi.It will assure the rapid delivery of fuel at the lowest possible cost.

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They noted that the death toll could grow as rescue efforts continued at the Sitakunda plant, 40 kilometres (25 miles) from the southeastern port city of Chittagong.

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“Six dead have been retrieved from the location,” a local government official told Reuters, adding that a rescue mission was ongoing.

Witnesses reported hearing a loud explosion that shook an area with a radius of up to two kilometres, as reported by police officer Nayhanul Bari.

In June of last year, a major fire at a container yard in the vicinity killed fifty people and injured around two hundred.

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Year Ender Cricket Controversies 2022: The year 2022 is at its last juncture. More than one incident took place on the cricket field this year. At the same time, there were some incidents which became big controversies of cricket this year and those incidents also got a lot of headlines. In such a situation, today we will tell you about the top 5 controversies of the year 2022.

Gunathilake accused of rape
The ICC T20 World Cup was organized in Australia this year. At the same time, during the World Cup in November this year, this Sri Lankan player was accused of rape by a woman. After this allegation, he was also arrested by the police. The woman had accused Gunathilake of sexually assaulting her 4 times at home. After this incident, he had to stay in Sydney jail for several days.

No ball in Indo-Pak World Cup match
The first match was played between India and Pakistan in the ICC T20 World Cup. The match was very exciting and Team India needed 13 runs in 3 balls. Mohammad Nawaz was doing the over for Pakistan. He put the ball above Virat’s waist. Virat hit a six on this ball. The umpire first did not give this ball a no ball, after which Virat criticized it and later the umpire called it a no ball. India won this match by 4 wickets.

Indo-Pak dispute over Asia Cup
The hosting of the upcoming ICC Asia Cup 2023 is in the hands of Pakistan. There was a continuous rhetoric between PCB and BCCI regarding this. On behalf of India, BCCI Secretary Jai Shah has clearly said that India will not go to Pakistan for the Asia Cup. After this, a constant tussle started between the Pakistani cricketers and the officials. It was even said by the PCB that if Team India does not come to Pakistan for the Asia Cup, then we will not go to India for the World Cup.

Deepti Sharma Mankading controversy
Indian women cricketer Deepti Sharma dismissed English batsman Charlie Dean through Mankading during the ODI series on England tour this year. Continuous discussion about this continued. Many cricketers told Deepti right, then many players were seen advising to give warning to Deepti first.

Virat Kohli stepping down from captaincy
Indian team’s veteran batsman Virat Kohli had resigned from the Test captaincy this year. After this, the ODI captaincy was also taken back from him. At the same time, after the T20 World Cup 2021, he left the captaincy from this format as well. This decision of Virat made a lot of headlines this year and the fans were quite disappointed with his decision.

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IND vs BAN: In the first ODI match played between India and Bangladesh, the Indian team got defeated by 1 wicket. India’s batting in this match was very average. Batting first, the team put just 186 runs on the board at the loss of 10 wickets in 41.2 overs. After electing to bat, Bangladesh chased down the target and won.

However, chasing runs was not easy for Bangladesh. There was a lot of excitement throughout the match. After the match, Indian captain Rohit Sharma told who is actually responsible for this defeat. He talked about the team’s batting to bowling.

184 Was not enough

Talking after the match, Rohit Sharma said, “It was a very close match. We did well to get back in that position. We didn’t bat well. 186 was not enough, but we bowled very well and towards the end they found the pulse. If you look back at how we bowled from the first ball – obviously we would have liked to have bowled better towards the end – but we bowled pretty well for 40 overs.”

‘We need to learn and understand’

He further said, “We did not have enough runs. 25-30 more runs could have helped. We were looking at 240-250 after 25 overs. It is difficult when you keep losing wickets. We need to learn and understand how to play on these kind of wickets. There is no excuse for us because we are used to these difficulties.

Mehdi hassan won

Bangladesh batsman Mehidy Hasan won the match. He played the match-winning innings for the team at the last moment. After the fall of 9 wickets, Mehdi Hasan played an inning of 38 runs in 39 balls to win the team. He was also awarded ‘Man of the Match’ for this innings.

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