“Sales of all companies have dropped due to high inflation, low gas pressure, high loan interest rates, and all together, the country is facing a tough challenge,” said Bangladesh Chamber of Industries (BCI) President and Chairman of Evince Group, Anwar-ul Alam Chowdhury Parvez.
He said this during a meeting with the Industries Minister Nurul Majid Mahmud Humayun on 15th February.
Parvez also alleged that electricity and gas prices were hiked on the pretext of ensuring uninterrupted energy supply and raising international market prices.
On another note, he also informed that the central bank’s existing policy will lead banks to invest in bonds, and that will result in a liquidity crisis in banks. As a result, there will be no new investments, and unemployment rates will also increase.
“It is very important to save our existing industries,” he said, according to a press release.
At present, the investment rate of bonds and lending rate are both above 12 per cent, therefore banks are showing more interest in investing in government Treasury bonds.
Stating that the country’s industrial sector is going through a transitional period, the BCI president said, “No industrial company in the country can operate at full capacity.”
“Currently, fuel prices in the international market have come down a lot, but I hear that electricity and gas prices will be hiked again,” he added.
Anwar-ul Alam said, “The industrial sector of the country is suffering losses due to various policies of the National Board of Revenue (NBR), which has made business management difficult.”
The Industries Minister said that a meeting will be held soon with the participation of the relevant parties to address these challenges.
