The decision of gas price hike on an average 23 percent will affect and increase cost of doing business and inflation in the country, said the Dhaka Chamber of Commerce and Industry (DCCI).
DCCI thinks gas supply to the industries and households is still not sufficient. Moreover, this hike will increase price spiral in the retail market, said a press release on Saturday.
It will also impede export competitiveness, manufacturing sector, increase transportation cost and overall cost of doing business.
This decision will emerge 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 will also be costlier due to this gas price hike.
DCCI urges the government to review the decision considering the present cost of doing business, inflation and greater interest of mass people.
Moreover to improve gas crisis government may focus on using our locally extracted coal as well as strengthening Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) for exploring new gas fields.
On February 23, Bangladesh Energy Regulatory Commission (BERC) raised gas prices for all consumers by 22.7 percent and decided to implement the hike in two phases.
According to the new price, households using double burners have to pay Tk 800 each from next month compared to Tk 650 now, while those using single burners have to pay Tk 750 each against Tk 600.
The prices would be increased again on June 1 by another Tk 150 for each gas stove.