Industrialists are disappointed as the government suddenly decided to increase the gas price without talking with the stakeholders in the sector. This decision is a self-destructing for industries. If the industries do not survive, there will be no employment. Workers will be unemployed. Therefore, there will be labor dissatisfaction.
As a result, the country’s economy will be transformed into an extortion model instead of being sustainable.
When entrepreneurs were expecting gas prices to decrease, the government decided to increase the price, leading to a rise in utility costs of the industries. Therefore, no mill or factory will be sustainable in the existing fragile economy.
The government will have to take business-friendly initiatives to revive the economy.
The character of fallen government and the interim government are becoming similar when it comes to production costs increase.
The ready-made garment (RMG) and textile industry is the largest consumer of gas, and that’s why it was necessary to take initiatives of increasing gas prices after discussing with stakeholders in the sector.
In the country the price was increased without talking with stakeholders, while the competing countries are providing incentives to protect industries. This is a conspiracy with the country’s industry and a suicidal decision.
The textile and RMG industry is the major partner in the country’s exports. Due to various domestic and foreign conspiracies, there are salary problems in some industrial establishments. If the gas and electricity problems are added to that, it will become difficult to sustain the industries and factories.
Therefore, the government must fix a priority while supplying gas. It the gas crisis continues, mills and industries will be closed, and the workers will lose their livelihood.
The proposed gas price will be very difficult for the industry. The government has no opportunity to make a profit on gas if it wants to sustain export-oriented industries in a competitive market. The prices of products produced in gas-dependent local factories will also increase.
Writer: President, Bangladesh Textile Mills Association (BTMA)
Translated by Afsar Munna
