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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.
All of the country's five gas distribution companies have demanded gas price hike at consumer level at the latest Bangladesh Energy Regulatory Commission (BERC) public hearing.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and a number of other trade bodies yesterday joined a growing list of groups and people who are demanding scrapping of the government's plan to increase gas price further.
The energy regulator may soon increase gas prices for industries, power stations, filling stations, fertiliser factories and tea estates as the government is set to pass the price of imported liquefied natural gas on to users.
The proposal to increase the price of natural gas by Titas Gas is totally unreasonable since this will pose an extra burden on the already burdened ordinary consumers, many of whom do not even get regular supply of gas. Residents of many areas of the capital have to face gas crisis due to shortage in supply.
The High Court yesterday declared the June-1 hike of household gas price illegal.
The High Court declares illegal the increase of second phase gas price for the domestic use from June 1. It, however, condoned the tariff already collected from the consumers for the months of last June and July.
The Supreme Court extends its endorsement on the second gas price hike this year. The apex court also asked the High Court bench that stayed the second hike to hear and dispose of its (HC) rule issued over the legality of the increment by July.
Police foil a march to energy ministry, protesting the gas price hike, using tear gas canisters and water cannons near Jatiya Press Club in Dhaka.The march was organised by Gonotantrik Bam Morcha (democratic left alliance), an alliance of left-leaning political parties.
Road Transport and Bridges Minister Obaidul Quader says the government will decide after September 10 about increasing the transport fare following a hike in the prices of gas.