Bangladesh (Bangladesh Energy Regulatory Commission) on Thursday raised the average retail prices of electricity by 5.3 per cent, effective from 1 March.
This move by the Government has not gone down well with the country’s entrepreneurs especially the garment manufacturers and exporters – already burdened by increased production cost and workers’ wage hike – who have expressed apprehensions of adverse business impact.
“Since our business costs have gone up by almost 29.40 per cent in last 4 years and since prices have steadily gone down, there’s no way we can afford any increase of any sort,” reportedly stated Dr. Rubana Huq, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Meanwhile, the President of Bangladesh Textile Mills Association Mohammad (BTMA) Ali Khokon maintained that under the existing circumstances it would be difficult for Bangladesh’s primary textile sector to bear the additional cost on account of power price hike.
The BTMA President also underlined that the Government’s ground of price hike on account of losses is not acceptable as neither the apparel industry nor the common people are responsible for this loss.