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Production costs in the ceramics industry of Bangladesh will rise by up to 15 per cent due to a recent hike in the price of gas, which adds to the list of crises threatening the sector’s overall growth, according to manufacturers.
The garment makers have urged the government to increase gas price in phases because it is tough to tolerate a sudden big hike amid the existing volatile domestic and global economic situation.
Medical treatments are about to get costlier as production cost for manufacturing drugs will go up by at least 25 per cent following a recent hike in gas and power charges, according to manufacturers.
The latest hike of gas prices undoubtedly spells trouble for industries as they will try to shift the burden onto consumers by raising product prices, which will boomerang onto them by eating away at their competitiveness in international markets.
Due to government interventions, the independent oversight of the Bangladesh Energy Regulatory Commission is being compromised, crippling its ability to ensure transparency in the sector, energy at a reasonable cost, and consumers’ interest protection.
The latest gas price hike will increase the cost of production in the country, Khondaker Golam Moazzem, research director of the Centre for Policy Dialogue, told The Daily Star.
What impacts will the recent electricity price hike bring, in the context of the ongoing inflation?
The Consumers Association of Bangladesh took the Bangladesh Energy Regulatory Commission to court to make them review their decision to hike gas prices and the High Court on Monday asked BERC why it was not doing so.
Prime Minister Sheikh Hasina says people should accept the gas price hike for the sake of the country's economic progress as the government has to import liquefied natural gas (LNG) at a higher cost.
Three lawmakers yesterday came down heavily on the government for increasing the price of gas and said the move would affect the people.
The countrywide half-day shutdown enforced by Left Democratic Alliance (LDA) protesting the recent gas price hike passed peacefully yesterday.
The half-day hartal enforced by Left Democratic Alliance (LDA) protesting the recent gas price hike passes peacefully except for a few incidents of picketing.
A Supreme Court (SC) lawyer has filed a writ petition with the High Court seeking stay on the government’s decision of hiking the gas price.
The Left Democratic Alliance has called a half-day hartal across the country on July 7 to protest the gas tariff hike.
The Left Democratic Alliance has called a half-day hartal across the country on July 7 to protest the gas tariff hike.
The latest gas price hike may not push up the electricity price at the moment, but the move will hit some industrial sectors, including textile spinning and ceramics, as their production cost will rise significantly, industry insiders said.
Terming hike of the gas price illogical, Gonoforum calls upon the government to immediately repeal the decision of hiking gas tariff for the greater interest of people.
Left Democratic Alliance (LDA) calls a half-day hartal across the country on July 7 protesting gas tariff hike.