Imports through Bangla Bandha land port in Panchagarh have decreased by at least 50% in the past couple of weeks. Traders blame the ongoing dollar crisis for the prevailing situation.
Abdullah Al Mamun, assistant commissioner of customs in Bangla Bandha, told Dhaka Tribune that earlier, at least 200 to 250 trucks loaded with stones from Bhutan and 150 to 200 trucks from India used to cross the border every day. But currently, the number has come down to 200 trucks per day.
Panchagarh Chamber of Commerce and Industry President Abdul Hannan Shaikh also blamed the ongoing dollar crisis for the slump in trade through the port.
Another importer said the dollar crisis has hit their businesses hard. He told the Dhaka Tribune that the stone traders are now facing losses due to the frequent increase in the value of the dollar.
While opening a Letter of Credit (LC), the traders get a rate of Tk118. But later, when they make the payment, they have to pay Tk122 per dollar, he added.
Bangla Bandha is the only land port in the country through which import and exports from four countries take place. Bangladesh’s trade with India, Nepal and Bhutan takes place through this port, where stone is the most dominant import item.
Assistant Commissioner Al Mamun said currently only 15 to 20 truckloads of products are exported to Nepal, Bhutan and India daily.
Bangladesh exports televisions, refrigerators, lead batteries, fishing nets, and jute through this port, along with some consumer products. The official said Bangladesh exports 48 products to these four countries through this port.
As Bangladeshi trucks cannot go directly to Nepal and Bhutan, the products are unloaded in India first. Then they are shipped to Nepal or Bhutan. However, trucks from Nepal and Bhutan can enter Bangladesh directly. If the shipments can directly go to Nepal and Bhutan then the costs will also come down significantly, traders said.
Businessmen said that if the transit agreement between the four countries, known as the Bangladesh-Bhutan-India-Nepal Transit Agreement (BBIN), is completed, trade and tourism between these countries will increase. Now, about 150 tourists enter India using this port per day from Bangladesh.
According to the port authorities, the revenue collected from Bangla Bandha land port in the financial year 2021-22 was Tk41.64 crore, which increased to Tk64.87 crore the following year. In the last financial year 2023-24, the revenue collection increased to Tk73.69 crore.