Ctg business leaders express concern over gas, power price hike

CHATTOGRAM, Jan 19: Business community leaders in Chattogram have expressed concern over the price hike of gas and power.

They said consumers have to bear the brunt as the prices of commodities have increased following the hike in prices of gas and power in the industrial and commercial sectors.

Mahbubul Alam, president of Chittagong Chamber and Commerce and Industry (CCCI), said, "The price hike of gas and power in industrial and commercial sectors will create a negative impression. The productivity of the industrial sector is dependent on a smooth supply of power and gas."

"The price hike of gas and power has increased the production cost, leaving a negative impact in the market. As a result, local products will also lose their competitiveness in the international market."

The country's trade and commerce was hampered during the Covid outbreak - later, the Russia-Ukraine war dealt a blow to the economy, he said.

Now, the industries are suffering from the gas and power price hike, said Mr Alam, adding that the government should take the matter into serious consideration.

First Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Sayed Nurul Islam said, "The prices of gas and power are increasing across the globe. It is normal that the prices of gas and power will rise in our country slowly. But it is unfortunate that the gas and power prices in industrial and commercial sectors have been increased suddenly. The production cost will increase due to the increase in prices of gas and power."

The ready-made garment (RMG) sector will suffer a lot due to the government's decision of price hike, he observed, adding, "Presently, the RMG sector is suffering from a lack of orders. Moreover, the increased gas and power prices will hamper the sector severely."

On the other hand, the industries have to increase the wages of workers due to the price hike of essentials.

The industries will suffer and many might be closed due to a high production cost and the lack of orders in future, he noted. "So, I urged the government to consider the matter seriously."

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