BTMA for rational gas price hike

State Minister for Jute and Textile Mirza Azam came up with the decision at a meeting with the Bangladesh Textile Mills Association (BTMA) leaders and several ministry officials at his office yesterday. The meeting aimed at discussing the gas price hike by the Titas Gas Transmission for the captive power in the textile industry. The government has proposed to hike price of gas to Tk19.26 per cubic metre from Tk8.36 now, a 130% rise for the power generation for the industry. “Considering the adverse impact of the proposed gas price hike, we have anonymously decided to send proposal to PMO and the Energy Ministry for not hiking gas price,” said Mirza Azam. For the survival of the country’s textile industry, I am not in favour of hiking gas prices,” he said, adding that the government decision is not appropriate at this moment. He also assured the textile millers that he would talk to the prime minister and the minister for power personally so that the prices are not hiked. “The textile industry and RMG sector would lose competitive edge in the global market and witness adverse impact if the proposed gas price hike is implemented,” BTMA president Tapan Chowdhury said. Global economic slowdown is a big challenge for the textile industry while terrorist attack at Holey Artisan is another big shock, said Tapan. Considering all aspects, Tapan urged the government not to hike gas price as lower prices are considered incentives for the sector. “The the main value addition to clothing industry is yarn and fabrics. If the government hurts the sector by hiking gas prices, the sector people will import clothes from India and China,” said former BTMA president Salman F Rahman. Whatever the government decides should be reasonable. The gas price hike should have a limit and hike cannot be done overnight, he added. In reaction to an official of the Bangladesh Energy Regulatory Commission (BERC), Salman said: “I do not have trust in the organisation. It did not pay heed to us when it doubled the price. It sets gas price as the government wants.”