The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) recently expressed concern over the latest proposal by energy companies to raise gas prices as it believes another hike now will raise the cost of production and, as a result, slow down economic revival amid the ongoing pandemic. It also urged the government to ensure the best use of coal reserves.

The industry will lose its competitiveness if the cost of production is raised at a time when the country is struggling to recover from the epidemic, FBCCI representatives said.

The FBCCI’s standing committee on power, energy and utilities raised the concern at its first meeting recently, the trade body said in a statement.

The Federation of Bangladesh Chambers of Commerce and Industry has expressed concern over the latest proposal by energy companies to raise gas prices as it believes another hike now will raise the cost of production and, as a result, slow down economic revival amid the ongoing pandemic. It also urged the government to ensure the best use of coal reserves.

FBCCI’s senior vice president Mostofa Azad Chowdhury Babu stressed on expanding the country’s gas exploration activities on a large scale.

If Bangladesh Petroleum Exploration and Production Company Ltd, the national gas explorer, cannot handle exploration alone, it should speed up the digging of exploration wells in a joint venture with the private sector, he was quoted as saying by Bangla media reports.

Fibre2Fashion News Desk (DS)