Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) has protested against the unusual increase in gas prices in the industrial sector and urged the government to retain the previous price.
“BGAPMEA feels that when the industries are barely operating their business amid various problems during the current global business slowdown, the situation will further aggravate due to this increase in gas prices,” it said in a statement.
BGAPMEA is the largest trade association in the country representing about 2,000 small and medium-sized and 100% export-oriented backward linkage industries.
Most of the existing members of the organization in the accessories and packaging sector will lose their capacity due to the impacts of the gas price hike, said the statement.
As a result, they will be unable to repay the bank loans and gradually become bankrupt, it added.
“As all the direct export sectors of the country are 100% dependent on garment accessories and packaging industries, BGAPMEA is requesting the government to maintain the previous prices of gas for the sake of all the industries,” the press release reads.