Bangladesh business leaders seek audience with PM on gas woes

Numerous businesses have either halted production or scaled back due to inadequate gas supply, resulting in increased financial strain, according to industry insiders.

Additionally, they lamented revenue officials issuing demand notices despite business inactivity.

A consortium of industry associations, including the Bangladesh Textile Mills Association (BTMA), Bangladesh Steel Manufacturers Association, Bangladesh Cement Manufacturers Association, and Bangladesh Plastic Goods Manufacturers and Exporters Association, collectively decided on this course of action during a joint meeting at the BTMA’s office in Dhaka’s Gulshan.

They also demanded reverting the gas tariff to pre-hike levels and resolving issues related to the US dollar.

Former Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Md Jashim Uddin revealed plans to first engage with FBCCI president Mahbubul Alam, followed by meetings with the central bank governor and the NBR chairman, culminating in an audience with Prime Minister Sheikh Hasina.

BTMA president Mohammad Ali Khokon underscored the severity of the crisis, especially the impact on working capital and procurement due to currency fluctuations.

The meeting participants raised concerns about customs-related hurdles as well and the damaging effects of gas shortages on textile mills and fabric processing plants.

Furthermore, business leaders proposed relief measures, including transitioning CNG vehicles to LPG and households from natural gas to LPG, to alleviate the gas crisis even as they stressed the need for central bank support to convert short-term loans into long-term ones and increase working capital by 50 per cent.

Fibre2Fashion News Desk (DR)