• Monday, Jul 04, 2022
  • Last Update : 04:24 pm

PM’s energy adviser: Gas price hike to be rational

  • Published at 07:30 pm April 23rd, 2018
PM’s energy adviser: Gas price hike to be rational
Tawfiq-e-Elahi Chowdhury, energy adviser to the prime minister, has said the government is mulling raising gas prices to a permissible limit in phases to help industries run smoothly. “Gas prices will not be raised like that of electricity and it will be done in phases,” he said at a discussion held at the Bangladesh Textile Mills Association (BTMA) in Panthapath on Monday. BTMA President Tapan Chowdhury read out a statement at the event. Among others Petrobangla Chairman Abul Mansur Md Faizullah was also present. The price of gas may go up from Tk3.16 per unit (now) to Tk4.99 in the power sector, from Tk2.71 per unit to Tk4.75 in fertiliser sector, and from Tk9.62 per unit to Tk14.98 in captive power sector, said sources in the government. The new prices are likely to be effective from May, they added. Tawfiq asked the industrialists, especially those from the apparel sector, to place their order for imported Liquefied Natural Gas (LNG) which is expected to arrive in the country by mid-May, so the government can fix the price of the fuel item. He also suggested using electronic volume corrector (EVC) metres to get rid of the excessive bills issued by the gas distribution companies. Tawfiq said efforts will be made to check ‘massive anomalies’ at Titas Gas Transmission and Distribution Company. “We will launch a crackdown against those responsible. We may also assign a gas distribution company if the anomalies do not stop,” he warned. Ha-Meem Group Managing Director AK Azad, who was also present at the program, said the country’s garment sector is seeing a downward trend in investment, mainly due to the higher prices and inadequate supply of gas. During July-February period of 2016-17 fiscal, capital machinery import witnessed 58.55% growth, whereas the figure drastically plummeted to merely 0.13% over the same period in the current financial, he said. Azad further said: “If the situation [gas problem] persists, it will be difficult for the textile mills to continue operations.” BTMA Director Shahid Alam said under the existing gas price, the production cost of each kg of yarn stands at Tk6.58 and it shoot up to Tk22 if per unit gas price is reset at Tk16. “This will take a heavy toll on our business as we might fail to meet the demand of buyers, thus, losing competitiveness in the global market,” he said.
50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail