• Tuesday, Sep 27, 2022
  • Last Update : 09:54 am

Manufacturing sector suffers from infrastructure deficit, says MCCI

  • Published at 05:21 pm April 13th, 2020
MCCI
Logo of Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI)

MCCI made the observations in its second quarter review of the current fiscal year on Bangladesh economy

Infrastructural deficiency and faulty transmission capacity of gas and electricity supply were undermining the performance of all manufacturing sectors of the economy, said MCCI.

 Metropolitan Chamber of Commerce and Industry (MCCI) made the observations in its second quarter review of the current fiscal year on Bangladesh economy, where most of the economic indicators were facing uncomfortable ride amid a gloomy global economy.

 “During July-December of the current fiscal year, agriculture, manufacturing and services sectors - all performed well, but continuous government support of various types will be needed to sustain their growth,” said the MCCI. 

 However, infrastructure deficits and gas and power supply problems along with faulty transmission capacity were  now undermining the performance of all productive sectors of the economy, the chamber added.

 The government should adopt adequate steps to overcome these problems, and achieve and maintain political stability, which were essential for creating an investment-friendly climate, it urged. 

 Meanwhile, some economic indicators such as remittances, inflation, foreign exchange reserves are positive in December 2019.

 The economy, however, faced a number of challenges on its business and fiscal fronts in recent times, even though the political atmosphere has been peaceful.

 The challenges that need to be addressed properly are inflationary pressure, slower growth in the export and import, shortfall in tax collection, vulnerable banking sector, slow credit growth to the private sector, fall in the key indexes of the capital market, lack of investor confidence and a lower rate of investment specially FDI.

 While remittances have kept on increasing, exchange rate remained stable and foreign exchange reserves rose to a comfortable level, it said. 

In addition, the government would need to improve the country’s road, river and rail infrastructure, develop port facilities, increase power and gas production, and remove other infrastructure bottlenecks, the chamber added in its review.

 

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