Gas price hike

DCCI urges govt to review decision

Dhaka Chamber of Commerce and Industry (DCCI) yesterday urged the government to review the decision of gas price hike considering the present cost of doing business, inflation and greater interest of mass people, reports BSS.
"Recent decision of gas price hike on an average 23 per cent will affect and increase cost of doing business and inflation in the country", a DCCI statement said.
The statement said it would impede export competitiveness, manufacturing sector, increase transportation cost and overall cost of doing business. "Gas supply to the industries and households is still not sufficient. 
Moreover, this hike will increase price spiral in the retail market," the statement added.
DCCI also observed that this decision would emerge as a challenge for garments and local industries as they have to survive facing hard competition in the world market.
Besides, gas based power generation, captive power generation and fertilizer production would also be costlier due to this gas price hike, DCCI added.
DCCI underscored the need for using locally extracted coal as well as strengthening Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) for exploring new gas fields to improve gas crisis.
Recently, Bangladesh Energy Regulatory Commi-ssion (BERC) has raised average gas price by 22.7 per cent which will be effective in two phases from March 1 and June 1 respectively. According to a BERC statement, the price of gas for single and double burner at households will be Tk 750 and Tk 800 per month from March 1 while Tk 900 and Tk 950 from June 1 respectively.
The current price is Tk 600 and Tk 650 for single and double burner respectively.

 

Gas price hike

DCCI urges govt to review decision

Dhaka Chamber of Commerce and Industry (DCCI) yesterday urged the government to review the decision of gas price hike considering the present cost of doing business, inflation and greater interest of mass people, reports BSS. Recent decision of gas price hike on an average 23 per cent will affect and increase cost of doing business and inflation in the country, a DCCI statement said. The statement said it would impede export competitiveness, manufacturing sector, increase transportation cost and overall cost of doing business. Gas supply to the industries and households is still not sufficient. Moreover, this hike will increase price spiral in the retail market, the statement added. DCCI also observed that this decision would emerge as a challenge for garments and local industries as they have to survive facing hard competition in the world market. Besides, gas based power generation, captive power generation and fertilizer production would also be costlier due to this gas price hike, DCCI added. DCCI underscored the need for using locally extracted coal as well as strengthening Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) for exploring new gas fields to improve gas crisis. Recently, Bangladesh Energy Regulatory Commi-ssion (BERC) has raised average gas price by 22.7 per cent which will be effective in two phases from March 1 and June 1 respectively. According to a BERC statement, the price of gas for single and double burner at households will be Tk 750 and Tk 800 per month from March 1 while Tk 900 and Tk 950 from June 1 respectively. The current price is Tk 600 and Tk 650 for single and double burner respectively.