Bangladesh’s apparel manufacturers are stressing for a ‘clear strategy in energy supply to the industry’ with concerns over a hike in bulk power tariff in the purview.
At a discussion held on November 25, the manufacturers said a conspicuous plan for energy supply is vital for entrepreneurs to take investment decisions beforehand.
The meeting focused on prospects and challenges of LP gas as alternative energy source.
Md. Tajul Islam, MP, Chairman of the Standing Committee on Ministry of Power, Energy and Mineral Resources attended the roundtable discussion as the chief guest.
Business leaders, economists, academics, journalists and others took part in the meeting.
Bangladesh has already raised the retail power tariff by BDT 0.35 per unit, to be effective from December 2017. The bulk tariff, used by industries, is yet to be hiked.
However, prior to the hike, Bangladesh’s Power Development Board proposed raising the power tariff by 15 per cent per unit at the bulk level.
At present, the bulk tariff per unit electricity is BDT 4.90. Power Development Board proposed it to be set at BDT 5.99. A final decision on the same is yet to be announced.
“Energy is an absolute prerequisite to tap the potentials of the industrial sector, especially the apparel industry,” said Mohammed Nasir, Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
More development requires more energy. The Government must draw a clear strategy for supply, he stressed.