The industries in Bangladesh have expressed apprehension that the recent fuel price hike, as effected by the Government recently, will have very severe ramifications.
It may be mentioned here Bangladesh Government recently increased price of diesel and kerosene by 42.5 per cent and petrol and octane by 51.1 per cent and 51.7 per cent, respectively.
Small and medium-sized factories are the worst-sufferers of such a sharp hike, reportedly, underlined the Managing Director of Khan Accessories & Packaging Company Ltd., Abdul Kader Khan, according to whom more than a 51 per cent rise in fuel oil means a big jump in expenditure even as Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association, Mohammad Hatem, reportedly, claimed the overall cost of production will now increase by 12-15 per cent.
The BKMEA Executive President further added the rise in transport costs will push up both export and import costs even as President of the Bangladesh Textile Mills Association, Mohammad Ali Khokon, is mulling convening a meeting with spinners, millers and other stakeholders in the primary textile sector to discuss the fuel price hike’s impact on the production cost.
