Industry Executive Forum (IEF), a non-political platform of senior executives from Bangladesh’s industrial sector, has urged the government to cancel the proposed gas price hike for new industries. The forum called for industry-friendly strategies to address the ongoing gas crisis and ensure a stable supply of affordable energy.
Executives, including Md. Abdul Hakim of Hurain Hi-Tech Fabric (Jamuna Group), Md. Sajedur Rahman Talukder of Mithila Group, Md. Mosaheb Kakka of Paragon Ceramics, and Md. Shafiqur Rahman of Zaber & Zubair Fabrics, voiced their concerns at a seminar titled “Industrial Production, Affordable Energy, Employment and Sustainable Development” at La Vinci Hotel in Dhaka. The event was moderated by IEF founding member S.H. Fahim.
The forum highlighted the detrimental impact of frequent gas price hikes, including major increases in June 2022 (15.52%), February 2023 (87.50%), February 2024 (2.50%), and May 2024 (2.44%). Rising production costs have forced some industries to shut down while others struggle in competitive global markets.
Key recommendations from the IEF included:
- Removing taxes on LNG imports.
- Accelerating LNG terminal construction.
- Exploring domestic gas sources and adopting advanced technologies.
- Supporting renewable energy initiatives and reducing import dependency.
- Incorporating stakeholder input in gas pricing decisions.
The forum warned that unchecked gas price hikes could stall industrial growth, cause job losses, and reduce export earnings, threatening economic stability. They stressed the need for sustainable policies to ensure accessible energy, boost exports, and support long-term industrial development.
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