Md. Sohel Sadat, Chairman, Shin Shin Group.
The Ukraine-Russian war has sparked a global energy crisis, straining supply chains and exerting inflationary pressure worldwide. Bangladesh is suffering from a massive energy shortage as gas and oil prices skyrocket, forcing factories to cut back on productive hours due to a debilitating lack of sufficient gas supply.
This means export-oriented industries must contend with declining demand worldwide while managing exorbitant utility prices at home. Utilities make up about 4 percent of a factory’s operational expense, but absolutely no revenue can be generated without it
If Bangladesh’s export-oriented industries are to absorb global supply chain shocks, they cannot do it without the state’s support in providing critical infrastructure. BGMEA, BTMA has requested the government to immediately ensure an uninterrupted gas supply to apparel factories. In this crisis moment, How Textile Sector can effectively manage its energy security?
An uninterrupted Energy supply is key to business continuation. Trade bodies together with the government must ensure the energy supply. Even if it is apparently a little higher in cost. No energy Or interrupted energy supply will hamper business very badly and income will effect subsequently.
The impact of an interrupted energy supply will cause the country’s economy in short term and long term. As such we have to address this matter with high importance and resolve it and must Ensure.
