Cut energy prices when global rates fall: DCCI

The global economic crisis and supply shortage may fuel energy prices in Bangladesh, but the local rates should be adjusted and decreased when the international prices fall, Dhaka Chamber President Barrister Md Sameer Sattar said today.

The global and local job markets have become volatile, so both the employers and employees should be happy in 2023 if they can keep the businesses afloat by retaining the existing manpower, he said.

Two million graduates are added to the job market every year but it is difficult to accommodate them all with suitable jobs, he added.

Many will get jobs but a big portion of them may be more inclined towards becoming entrepreneurs, he said.

Sattar made the comments at a press conference on the contemporary economic situation and share the plan of action of the Dhaka Chamber of Commerce and Industry (DCCI) for 2023, held at the DCCI building in the capital.

Now a days, young entrepreneurs are very innovative in terms of technological know-how, he said.

The start-ups and the cottage, micro, small and medium enterprises should have an easy access to finance with minimum onerous conditions, the DCCI president said.

Businesses may be willing to pay the higher gas price rates set by the government recently, but in turn they want uninterrupted gas supply so that they can continue industrial production without any hindrance, he said.

The DCCI president also urged the Bangladesh Bank to consider margins for letters of credit (LCs) especially during the upcoming Ramadan for easy import of essential commodities to keep their supply and prices stable.

There is no 'overnight' solution to increase foreign exchange reserves, he added.

"We have to incentivise more remittance inflow from abroad and enhance export earnings to expedite reserves."

DCCI Senior Vice President SM Golam Faruk Alamgir (Arman) and Vice President Md Junaed Ibna Ali were also present.