An international trade fair in Dhaka this week highlighted growing demand for Bangladeshi-produced denim, both nationally and internationally.
Over $1.24bn worth of denim apparel was exported by Bangladeshi manufacturers last year. As with other industries, a major obstacle preventing entrepreneurs from growing this sector further to meet demand is the lack of uninterrupted gas supplies across the country.
The best way to address the gas shortage is to increase the price of gas for all consumers and to meter all household gas connections.
Subsidised energy burns up huge amounts of taxpayer money and wastes expensive gas. Increasing the price of gas is necessary to create funds which can be used to guarantee reliable supplies by developing gas fields and improving distribution.
The problem is made worse by the lack of metering for domestic consumption. Far too many unmetered households keep stoves burning all day. This cannot be allowed to continue. Every household gas connection should be metered.
Metering is essential to cut waste. It can also benefit consumers by providing incentives to save money and allowing for easier ways to pay their gas bills.
Digital meters can be used to eliminate the current cumbersome and antiquated system for paying gas bills, by facilitating online and bank pay point transactions.
Modernising payment systems is not only straightforward to implement technically, but will pay for itself by saving consumers time, allowing for more timely revenue collection, and cutting waste to help ensure reliable gas supplies.