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Tough time for industrial sector

A timely business policy is a must


Bangladeshpost
Published : 01 Jun 2024 10:01 PM

Country’s industrial sector is going through a tough time due to a lot of problems including high inflation, low gas pressure, high interest rate of loans, excess payment of VAT and Tax, and dollar crisis. Sales of all companies have dropped significantly recently.

With all these together, the domestic industries have been facing tough challenges. Businessmen demand a sustainable solution in regard to the power and gas crisis. The prices of electricity and gas were increased in the hope that their continuous supply will be ensured.

However, despite the declining trend of energy prices in the international market, it is being heard that the prices of electricity and gas will be increased again. It is important to have a sustainable solution to the problem. If a long term plan is given to the industrial sector in terms of power and gas supply, it can move forward accordingly.

The businessmen say due to some policies of Bangladesh Bank, banks are being encouraged to invest in bonds. As a result, there will be a liquidity crisis in the bank. New investment will not come in and the unemployment rate will rise due to such a move by the central bank, businessmen say. It is very important to save our current industries.

Businessmen demand a sustainable

 solution in regard to the power and gas 

crisis

Running the businesses has become difficult due to new policies at various times. Bangladeshi entrepreneurs can advance the country in any situation. All that is needed is a sustainable policy since good policies encourage good entrepreneurs. 

We believe that observing the latest state of the global and domestic economy, the government will continue to make its support more inclusive, providing facilities to all categories of business like large, medium, and small and cottage and micro. 

The inflation has increased, prices of all essentials went beyond the purchasing capacity so that not only the developing nations like Bangladesh but developed countries also are struggling. The impact of Covid-19 pandemic, the Russia-Ukraine war and Palestine-Israel conflict have resulted in an abnormal increase in energy price, food price, agricultural production cost, industrial raw materials, parts, and transportation cost.

High inflation is also affecting the currency exchange rates adding that rising cost of doing business have made it difficult for local entrepreneurs to survive in the global competition. We hope, the next fiscal year’s business-friendly budget will take all concerns into cognizance, so that businessmen can do business smoothly and without harassment.