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Planned gas price hike worries business, textile millers

  • Published at 07:07 pm August 1st, 2016
Planned gas price hike worries business, textile millers
Business people are expected to feel further pain, with the government’s planned gas price hike. Among the proposals, gas price for the captive power plants per cubic metre is likely to be increased by 130%, household gas by maximum 140%, CNG by 83%, commercial gas by 72% despite existing acute shortage of gas supply, according to the Bangladesh Energy Regulatory Commission (BERC) website. Businesses believe such constant hikes only lead the commoners to be burdened with inflation as manufacturing cost will rise. In a statement issued yesterday, Metropolitan Chamber of Commerce and Industry (MCCI) has said different sectors, including apparel, will lose their competitive edge if gas price is raised. It criticised that the government proposal within the span of a year to raise gas price is contradictory to BERC rules. “Raising gas price is not only solution to meet challenges in energy sector, the government needs to solve some problems, like illegal gas connection and meter tampering in league with officials.” The MCCI urged the government to reconsider its proposal on gas price hike and requested that the price be increased 15% for an interim period. According to a separate statement issued on the day, a delegation, led by the Bangladesh Textile Mills Association vice-president Fazlul Haque, met State Minister for Textiles and Jute Mirza Azam and expressed their deep concern over the government’s move on gas price hike. “If the proposal is implemented, many textile mills will be forced to close down as millers cannot bear the brunt of production cost,” said the statement. It said this will add further pain to the industry that has fallen into the risk due to the recent Gulshan and Sholakia attacks. The BTMA apprehended that the local millers might face a big challenge in days to come because of incentive announcement by India to increase its textile export. Considering all the challenges and difficulties faced by the textile mills, it urged the government not to increase gas price right at this moment to save the sector. The minister assured the textile millers of taking necessary steps in this regard.
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