Industries in Bangladesh are hit hard by the current gas shortage and power cuts, as production has gone down by as much as 50 per cent.
Media reports maintained this adding deepening energy crisis has emerged as major worry for Bangladesh industries even if the country has to lower gas purchase from international sources in view of escalating import bills — according to the budget document of the Government, compared to May 2021, there has been 65 per cent increase in fuel price in May this year — even as liquefied natural gas (LNG) prices have hit record levels internationally, fuelled by higher energy prices in the global markets exacerbated by the Russia-Ukraine war, which has hit the generation of electricity in Bangladesh, where power production accounts for around 70 per cent of the total gas consumption.
As a result, businesses in Bangladesh are facing hardships since production has taken a massive hit even if the cost of production is on the rise as well.
Meanwhile, speaking to media, BGMEA President Faruque Hassan has, reportedly, maintained gas crisis would affect the whole garment supply chain even as President of the Bangladesh Textile Mills Association (BTMA), Mohammad Ali Khokon, on his part, reportedly, said almost every mill is running at loss because of the disruption in gas supply.
