It also called for easier access to credit facilities for cottage, micro, small and medium enterprises (CMSMEs).

Long-term planning should be adopted following a predictable pricing policy in determining the energy price, DCCI feels. 

It is necessary to urgently explore new gas fields, strengthen long-term energy supply contracts and find alternative sources of energy import to ensure energy security, the industry chamber was quoted as saying by a Bangladeshi news agency.

More emphasis is also needed on raising incentives to increase remittance inflow to enhance the foreign exchange reserve. Meanwhile, currency swap may be prioritised to meet necessary import expenditures, the chamber said.

To address the liquidity crisis in the financial sector, the government should continue with its austerity measures, it said.

To raise domestic and foreign investment, reforms of laws like the Companies Act, the Arbitration Act and and Bankruptcy and Insolvency Act are needed, it added.

Fibre2Fashion News Desk (DS)