BGAPMEA for maintaining previous prices of gas

Protesting the decision to hike gas prices, Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA) on Thursday urged the government to continue with the previous gas prices to protect the export-oriented industries.

In a press release signed by its Secretary Ruhidas Jodder, the association said that the decision of hiking gas prices came at a time when the garments and packaging sectors are sharply suffering due to worldwide business slowdown and the fresh decision of hiking gas prices will make the situation worsen.

According to the release, the price of gas per unit for large-scale industries has increased almost three times from Tk 11.98 to Tk 30 while increasing Tk 18.22 per cubic meter for large increase Tk 18.22 per cubic meter for own power plants of large industries.

Similarly, the gas price has been increased from Tk 11.78 to Tk 30 (an increase of Tk 19.22 per cubic meter) for medium industries while the price of gas per unit used in small and cottage industries from Tk 10.78 to Tk 30 (19.22 per unit of increase).

“BGAPMEA feels that the situation will be so complicated due to this abnormal increase in gas prices when the industrial establishments are continuing their business amid various problems such as the current global business slowdown, non-receipt of purchase orders, non-payment of receivables or delayed receipt of purchase orders,” reads the release.

And most of the existing 2,000 member firms in the packaging sector will lose capacity. As a result, they will be unable to repay the bank loan and become bankrupt. As all the direct export sectors of the country are 100% dependent on Garment accessories and packaging industries for their accessories and packaging products, BGAPMEA is requesting the government to maintain the previous price of gas for the benefit of all the industries.