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Bangladesh Jute and Textile ministry to request PM to refrain from increasing gas price

The Bangladesh state minister for Jute and Textile Mirza Azam has said that his ministry would send a letter to the Prime Minister’s office, and the Power, Energy and Mineral Resources Ministry and request them not to increase gas price for captive power generation for textile industries. The decision came from an inter-ministerial meeting.

In the meeting, textile mill owners said that the proposed hike in gas price by 130 per cent to Tk 19.26 per unit from existing Tk 8.36 per unit would make the industry uncompetitive leading to loss of exports, closure of mills, unemployment and fall of foreign exchange earnings and retention.

The textile sector has been passing through a tough time due to a sluggish run of the global economy, Britain’s exit from the European Union and the recent terror attack at Dhaka’s Gulshan.
Under these circumstances, if the government increases the tariff of gas, the textile sector will lose its competitiveness and the country will have to depend on export for yarn and fabric,’ Bangladesh Textile Mills Association president Tapan Chowdhury observed.

He said that the proposal to increase the price of gas for the captive power by 460.77 per cent within a year was not acceptable.

In the meeting, officials of several ministries commented that the arguments of the textile mills owners were logical and the government decision of gas price hike should be rational.

 
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