BGMEA: Gas price hike to hit hard on garment sector

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday said the gas price hike would be another blow for an industry struggling for every penny.

"On the basis of the information I have, the gas bill will take up around 1.5% of the manufacturing cost. So, 38% increase in gas price means almost 1% increase in production cost," said BGMEA President Rubana Huq, reports UNB.

The government on Sunday raised the prices of gas.

For industrial use, gas price has been increased by 37.88% from Tk7.76 to Tk10.70 per cubic metre while for captive power, it has been increased by 43.97% from Tk9.62 to Tk13.85.