Dhaka Chamber of Commerce and Industry (DCCI) today requested the government not to raise existing gas price at this moment for maintaining country’s economic growth.
“Gas price hike is likely to affect the country’s import substitute and export-led industries including Ready Made Garments (RMG),” DCCI said in a statement.
The DCCI made the request in view of a report that government proposed 88 percent hike, on an average, of the gas price following a public hearing of the stakeholders on August 7 on the issue.
The proposal includes 140 percent hike of natural gas for domestic use, 130 percent for captive power plants and 62 per cent for industries.
The chamber said gas price hike was likely to have a direct impact on fares of public transport alongside costs of doing business, electricity production, living and prices of essential commodities.
Besides, it may create an excuse for illegal and immoral manipulation for price hike affecting purchasing power of the common people, DCCI feared.
The statement further said the proposed 140 percent tariff rise would simultaneously affect export competitiveness, push up industrial production cost and inflation.
“Price hike of gas used in fertilizer production will increase the
production cost of agricultural goods as well resulting in the overall inflation in the country,” it added.
DCCI suggested the government to import low-cost fuel from the
international market to meet the domestic industrial demand as an alternative of gas price hike as the fuel price in the international market is quite low than the previous years.
“We should also look for alternative primary energy sources for future energy security,” the statement read.