Entrepreneurs involved with the primary textile sector in Bangladesh have cautioned of new investment in the sector slowing down in face of the ongoing gas and electricity crises even as they warned the same would take a further hit if things do not improve soon.
Media reports maintained this while adding despite the Covid-19 pandemic, the primary textile sector of Bangladesh received new investments worth US $ 6.06 billion in 2021 and US $ 4.15 billion in 2022 amidst growing apprehension of things slowing down now.
Meanwhile, speaking to the media, President of the Bangladesh Textile Mills Association (BTMA) Mohammad Ali Khokon reportedly claimed if the supply of gas with adequate pressure and electricity doesn’t improve markedly, there are doubts if there would be any significant investments in the sector even as he underlined there would have been much higher investments otherwise.
It may be mentioned here, Bangladesh is facing a gas shortage after the eruption of the Russia-Ukraine war, which has hit global supply chains and pushed energy prices up.