‘Ready to pay more’
Businesses yesterday reiterated their demand for uninterrupted gas and power supplies to industrial units as they are having to operate at half capacity because of the ongoing energy crisis.
In desperation, they even proposed that the government hike power and gas prices to ensure uninterrupted supply to industrial units for continuous production.
In the last couple of months, businesspeople from different sectors have held meetings with the government to discuss their demand for uninterrupted gas and power supplies.
Importers, exporters, owners of big businesses and leaders of major chambers and trade bodies again raised the demand at a meeting yesterday with Salman F Rahman, prime minister's private industry and investment affairs adviser, and Nasrul Hamid, state minister for power, energy and mineral resources.
The meeting was held at the Bangladesh Investment Development Authority office in the capital.
Speaking to The Daily Star after the meeting, Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA), said he again proposed increasing the price of industrial gas by 40 percent to Tk 22.83 per cubic metres from the existing Tk 16.33 to resolve the crisis.
"We want uninterrupted gas supply to our industrial units for operating those in full capacity. We are ready to pay more for gas," he said.
BTMA member mills are the biggest consumers of gas, who use 16.62 percent of the total gas consumed in the country, according to data from a business body.
Khokon said they were running their units at half capacity because of the gas crisis.
He said the government will have to spend an additional $1.2 billion if it imports LNG from the international spot markets at the current price.
If the government imports LNG worth $1.2 billion, the industrial units can be supplied with adequate gas for six months, which would eventually fetch $6-10 billion through export of goods and supply of raw materials to local industries, the BTMA chief said.
He said Nasrul Hamid agreed in principle to the proposal of spending an additional $1.2 billion, although making a decision on the additional spending depends on Bangladesh Bank as it is desperately trying to stop the drop in forex reserves to face any future challenges.
Md Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry (MCCI), told this correspondent that the government was positive about importing LNG for supplying gas to industries as the state minister and the PM's adviser said they would consider the proposal.
The adviser and the state minister advised the businesses to cope with the current gas and power supply situation as there was a global energy crisis stemming from Russia-Ukraine war, Saiful added.
A leading textile producer and garment exporter, who attended the meeting, said the government is also planning to import more furnace oilso that the power crisis can be resolved soon.
Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, suggested the government prioritise power supply to those industrial units who produce essential commodities.
The rationing of power is working properly for the industrial units as load-shedding has become a normal occurrence in the industries now, he told The Daily Star.
"If the power and gas prices are hiked, it will not be a problem for us because we will have to run our industries at any cost," the FBCCI chief said.
Jashim Uddin at another meeting with Prime Minister Sheikh Hasina at the Gono Bhaban yesterday urged the government to cut the import duties on edible oil and sugar to tame the soaring prices of the two essentials.
Regarding the import of LNG at an additional cost of $1.2 billion, he said the total additional cost would be $2 billion with tax and VAT.
Meanwhile, State Minister Nasrul Hamid yesterday in a statement assured that the worries of the businesspeople would be resolved soon. He said the gas pressure crisis in Gazipur, Ashulia and Narayanganj would be addressed soon.
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