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The dynamics and stock assessment of Labeo rohita in Kaptai lake, Bangladesh are studied using length-frequency based analysis in order to evaluate growth parameters, mortality rates, exploitation rate, maximum sustainable yield (MSY) and the corresponding fishing pressure at this level. The study reveals that the fishery is harvested at a higher level than the optimum fishing pressure. This fishing pressure may be reduced near to 1.34/yr from the present level of fishing pressure 1.48/yr to obtain MSY of 51.90 tons.