Leaders of six trade bodies, mainly representing the textile and garment sectors, today urged the government to inform businesses about the current energy supply situation, as the ongoing conflict in the Gulf region may further aggravate the country’s energy crisis.
In a joint letter sent to Iqbal Hasan Mahmud, minister for power, energy and mineral resources, the business leaders said many industrial units are currently operating at only 60 to 70 percent capacity due to inadequate energy supply.
If the situation does not improve, industrial production and export growth will face serious obstacles, they said, adding that the situation could negatively affect employment and the country’s overall economic growth.
Given the turmoil in the Middle East, the government should inform businesses about the latest energy supply situation, its plans for energy security and the preparations being taken so that entrepreneurs can make informed decisions, the letter said.
Providing such information would help reduce business uncertainty and boost entrepreneurs’ confidence, it added.
The six trade bodies that signed the letter are the Bangladesh Knitwear Manufacturers and Exporters Association, the Bangladesh Textile Mills Association, the Bangladesh Garment Buying House Association, the Bangladesh Chamber of Industries, the Bangladesh Terry Towel & Linen Manufacturers & Exporters Association, and the Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association.