Ministry of Textiles, Jute, and Commerce Advisor Sheikh Bashir Uddin on Wednesday said the interim government's proposal to raise gas prices will be finalized in consultation with business leaders.
He mentioned that the proposed increase is necessary to address the economic exploitation that occurred during the previous Awami League government, which is estimated to have cost Tk28 lakh crore. He emphasized that everyone will need to share this burden; otherwise, the economy will continue to deteriorate further.
He made the remarks at the inauguration of the Garment Technology Tradeshow (GTB 25) and the Garment Accessories and Packaging Tradeshow (GAP Expo 2025) at the International Convention City, Bashundhara, Dhaka.
The event was jointly organized by ASK Tradeshows and Exhibitions Pvt Ltd and the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA).
Responding to businessmen’s dissatisfaction with the proposed gas price hike, the advisor said: “This gas price hike is not planned the same way it was during the previous government.”
Former BGAPMEA president Rafez Alam Chowdhury said that the industry will suffer if gas prices are raised again. He commented that businesses are facing constant challenges, which may lead the next generation to move away from the industry.
Shawkat Aziz Russell, president of the Bangladesh Textile Mills Association (BTMA), said that the previous government raised gas and electricity prices without stakeholder consultation. The current government has also taken similar actions without discussions.
“If we had been given the opportunity for talks, we could have provided some suggestions,” he said.
Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said: “We do not understand why we have to pay the price of gas per unit Tk70-Tk75. This will create an uneven competition between new and old local industries and erode their competitiveness in the international market.”
The decision to graduate from LDC status in 2026 is self-destructive. The previous government had halted export incentives, which has led to the need to import yarn and fabric, thereby harming the local textile industry, he added.
He called for a five-year delay in the LDC graduation process.
Former BGMEA president Chowdhury Anwar Alam Parvez said: “The labour-dependent future we envisioned for Bangladesh is now fading away.”
He pointed out that 37% of the educated population is unemployed, and this issue can not be resolved without focusing on the manufacturing sector.
He doubts whether the government truly wants a manufacturing industry, as factors such as high bank loan interest rates and rising fuel costs are not in its favour.
He also noted that due to changes in the classification of bank loans, most factories are likely to become defaulters within the next three months.
Accessories, packaging indirect export $7 billion
Of Bangladesh’s $47 billion garment exports, the contribution of the garment accessories and packaging sector accounts for $7 billion in indirect exports, said Mohammad Shahriar, president of the BGAPMEA.
The total export earnings amount to $8.5 billion, with $1.5 billion coming from direct exports, he added.
He mentioned that during the Covid-19 pandemic, when all imports were halted except for medicines, local companies were the sole suppliers of 100% of the accessories and packaging for export products.
Quoting a Bloomberg report, Shahriar said the global demand for accessories and packaging in 2021 was around $750 billion.
He expressed hope that with government export incentives, direct exports in this sector would increase further.
Former BGAPMEA president Rafez Alam Chowdhury said that at GTB 25 and GAP Expo 2025, 77 companies are showcasing their products across 270 booths.
He further mentioned that until the late 1980s, all types of accessories and packaging products had to be imported, which increased lead times.
Emphasising the need for government support to achieve the target of $100 billion in garment exports by 2030, he said: “We are facing some policy-related inequalities.”
Around 500 exhibitors from 25 countries are participating in this show spread over eight halls.
The event also featured speeches by South Korean Ambassador Park Young Sik and Nanda Gopal, director of ASK Trade Show and Exhibition Private Ltd.
