The home textile manufacturers of the country claimed subsidies of 50% of the additional production cost from the government as the recent hike in fuel price likely to increase the production costs of the terry towels and other home textile products by Tk75 crore a month.
M Sahadat Hossain, chairman of the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association issued a press release regarding this recently.
According to the press release, its monthly production volume is around $ 175 million of which 90% is its production cost. The fuel price crisis will add around $7-$8 million additional expenses to their production costs.
The press release also said that such a crisis might impact the industry badly if the government delays taking steps to resolve the issue.
Earlier, the government on Friday revised the prices of all types of fuel oils at the consumer level.
The prices of diesel and kerosene were raised by 42.5% to Tk 114 per litre from Tk 80, while the price of petrol was raised by 51.16% to Tk 130 per litre from Tk 86, and the price of octane was raised by 51.68% to Tk 135 per litre from Tk 89.