First jet fuel plant goes into operation

Partex Petro Ltd, an oil refinery, has started production and marketing of aviation fuel, becoming the first company in Bangladesh to manufacture the finished product for the growing air transport market. Partex Group has invested Tk 1,400 crore to set up the facility, which, at its peak, will produce 14,000 barrels of petrol, octane, and diesel per day, including 2,800 barrels of jet fuel.”We are able to meet one-third of the demand for jet fuel in the country and save $300 million in foreign currencies,” said Rubel Aziz, managing director of Partex Group.Bangladesh needs more than 9,000 barrels of jet fuel a day.According to Aziz, PartexPetro’s value addition is around $50 per barrel as it imports base oil.”If the government imports finished oil, it has to spend $159 per barrel. We are helping the government mitigate the dollar crisis.”Partex Petro, which started commercial production in May, delivered its first consignment of jet fuel of 10 lakh litres to Padma Oil on October 22.

Source: https://www.thedailystar.net/business/economy/news/first-jet-fuel-plant-goes-operation-3151516

Sugar supply to improve within days

As sugar has become both scarce and expensive in local market in recent days, the central bank and the consumer rights protection agency on Sunday assured the citizens of adequate availability of the item within a short time.The essential commodity manufacturing and refining units would get adequate gas supply. That is how the short supply of sugar and other essential commodities in the market would be resolved, said DNCRP Director General (DG) A H M Shafiquzzaman.The Directorate of National Consumer Rights Protection (DNCRP) chief said traders would get as much sugar as they need within a few days, as refiners would be able to refine the item at their targeted quantity.He was speaking in a discussion on sugar market situation with the leaders of Karwan Bazar retail and wholesale traders in the capital on Sunday, organised jointly by the DNCRP and the associations concerned.Another meeting was organised by the Moulvibazar Wholesaler Merchants Association at its office in the city, where the DNCRP head also spoke.

Source: https://thefinancialexpress.com.bd/trade/sugar-supply-to-improve-within-days-1666579977

FSIBL to bring cutting-edge tech for customers

First Security Islami Bank Ltd will ensure cutting-edge technology in cloud-based banking to extend better and safer customer services along with going the extra mile for wider financial inclusion on the occasion of its 25th anniversary in 2024.Syed Waseque Md Ali, managing director of FSIBL, made the comment in a recent interview with The Daily Star. The technological development the FSIBL has achieved so far has paid off for the bank during the Covid-19 pandemic period also, he said.”To ensure health and financial safety, we took several initiatives during the Covid time and we promoted our FSIBL Cloud Apps so that our customers can do their banking activities from home effectively.”

Source: https://www.thedailystar.net/business/economy/news/fsibl-bring-cutting-edge-tech-customers-3151491