Recent decision of gas price hike on an average 23 percent will affect and increase cost of doing business and inflation in the country, said the Dhaka Chamber of Commerce & Industry (DCCI).
DCCI thinks gas supply to the industries and households is still not sufficient. Moreover, this hike will increase price spiral in the retail market. It will also impede export competitiveness, manufacturing sector, increase transportation cost and overall cost of doing business. This decision will emerge a challenge for garments and local industries as they have to survive facing hard competition in the world market. Besides, gas based power generation, captive power generation and fertilizer production will also be costlier due to this gas price hike.
DCCI urges the government to review the decision considering the present cost of doing business, inflation and greater interest of mass people. Moreover to improve gas crisis government may focus on using our locally extracted coal as well as strengthening BAPEX for exploring new gas fields.