Dhaka, Apr 11 (UNB)- A section of industrialists on Thursday urged the government not to hike gas and electricity prices.
The call came from a seminar titled ‘Energy Pricing: Impact on Industries,’ organized by the Dhaka Chamber of Commerce and Industries (DCCI) at its auditorium in the capital’s commercial district.
Businessmen participating in the seminar pointed to various problems with the gas connection they get in their factories. They held the view that the faults should be corrected to provide a reliable gas supply, before the government goes for rate hikes.
Muhammad Fouzul Kabir Khan, former secretary to the Power Division, presented the keynote. He explained that the proposed hike in the price of gas would not have the same blanket effect across all industries. Rather it would vary from one industry to the other, depending on the predominance or otherwise of gas as an input in the production process.
So for a gas-fired power plant, the cost of power production may increase 93.7 percent; for steel mills, production costs may shoot up sharply, by 7.4 percent; and cost of cement production may increase by nearly 2 percent.
“Non-food inflation may also increase to 1.5percent due to gas price hike. Electricity tariffs in Bangladesh are quite comparable with other regional countries.” He put forth some recommendations to conclude, including hunting down and disconnecting illegal gas and electricity connections, encouraging the use of LPG, and introducing the concept of peak pricing for electricity tariffs.
Fouzul Khan’s assertion on electricity tariffs in Bangladesh being ‘comparable’ to other countries in the region was directly contradicted by State Minister for Power, Energy and Mineral Resources Nasrul Hamid.
“There is very low price in our country compared to other countries of the world. We have to come out from subsidy. For this, we need further five to six years,” the state minister said, before going on to dismiss the notion that the government hikes utility prices at all. He rather sees them as ‘adjustments’, either up or down according to subsidy announced in the budget. The government still subsidizes around Tk 6000 crore in the energy sector on an annual basis.
Hamid also said that many industries with factories are being built in Bangladesh without considering how to supply them with energy. “So I ask all businesses to use electricity more and more in your factories, and instead of cars with internal combustion engines to buy electricity cars from abroad.
“Pay your gas and electricity bills regularly and stop illegal connections in your factories,” he also upon the factory owners.
He called upon the industrialists to invest in planned Economic Zones to get uninterrupted supply of gas and electricity. Moreover, a Gas Management Master Plan has been put together by the government. A plan to ensure tolerable electricity price for the consumers is in place.
Before finishing his address, Sanders informed the audience that by the year 2041, the total demand for electricity in Bangladesh will reach 72,000 megawatt; but generation capacity will reach to 79,500 megawatt. Gas demand in industries will reach about 10,000 mmcfd by year 2041.
Abdus Salam, a former senior vice-president of DCCI, said the government should explore new gas fields to meet the country’s demand.
Mohammad Ali Khokon, President of Bangladesh Textile Mills Association (BTMA) said: “Gas is a very important matter in our factories. We urge the government not to raise the gas price.”
DCCI President Osama Taseer said that in March 2019, Petrobangla and gas distribution companies proposed average 102 percent gas tariff hike, of which 132 pc gas price hike for industrial users, 96pc gas price hike for captive power and 208pc gas price hike for power.
He said that for smoother industrial production we have to ensure uninterrupted gas supply as well as good PSI (Pound per Square Inch). Due to proposed gas tariff hike, input costs of industry may increase and may have impact on energy intensive industries like Fertilizer, Textile, Denim, RMG, Cement, Steel and allied sectors.
Dr Ijaz Hossan, professor of chemical engineering department of BUET and Dr Badrul Imam, Supernumerary professor of Geology of Dhaka University and others were present there.
Dhaka, Apr 11 (UNB) - Mohammadi Group Managing Director Rubana Huq, also wife of late Dhaka North City Corporation Mayor Annisul Huq, has been elected first female president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for the next two years.
Of the 35 directors elected in the April 6 BGMEA election, only Rubana Huq submitted the form for the president post on Thursday, the last date for filing forms.
According to the BGMEA article 10 (3), she has been declared as a valid candidate for the post, said a press release.
Besides, seven vice-presidents have also been chosen. They are Managing Director (MD) of Chattogram Asian Apparels Mohammad Abdus Salam (first vice-president), Surma Garments MD Foysal Samad (senior vice-president), and Seha Design’s MD SM Mannan (Kochi), DBL Group’s Vice Chairman MA Rahim (Firoz), Tusuka Fashions Chairman Arshad Jamal (Dipu), Frame Sweaters MD Mohammad Moshiul Azom (Sajol) and Al Amin garment’s MD SM Chowdhury (Salim).
This will be announced officially on Friday.
All the 35 directors were elected from the Sammilita Forum for 2019-2021 period.
Two panels -- Rubana Huq-led Sammilita Forum and Design and Source Limited Managing Director Jahangir Alam-led Swadhinata Parishad contested the election.
Dhaka, Apr 11 (UNB) – Industries Minister Nurul Majid Mahmud Humayun visited Walton Hi-Tech Industries (WHIL) at Chandra in Gazipur on Thursday.
During his visit State Minister for Industries Kamal Ahmed Mojumder was also present there.
After visiting the industry, minister said that Bangladesh will easily become a middle income country by 2021 and a higher income country by 2041 if industrial entrepreneurs like Walton come forward.
State Minister Kamal Ahmed Mojumder assured of providing all kind of assistances in protecting protecting and boosting the local industries.
WHIL’s Vice-Chairman SM Shamsul Alam, Directors SM Mahbubul Alam and Tahmina Afrose Tanna welcomed the minister in the morning while Walton’s Executive Director SM Zahid Hasan, Humayun Kabir, Uday Hakim, Alamgir Hossain Sarker and Yusuf Ali, Deputy Executive Director Sharif Harunur Rashid, Shahjada Selim, Senior Additional Director Mohsin Ali Mollah, Additional Director Milton Ahmed and Media Adviser Enayet Ferdous were present.
Dhaka, Apr 9 (UNB)- United Commercial Bank Limited (UCB) Cardholders will enjoy special benefits on room charge, laboratory, x-ray, medicine, dental treatment etc at Bangkok Hospital.
UCB has signed an agreement with Life and Health Limited, Bangladesh liaison office of Bangkok Hospital at the premises of the bank recently, said a press release on Tuesday.
Mohammed Shawkat Jamil, Managing Director and Chief Executive Officer of United Commercial Bank Limited and Dr Nilanjon Sen, Managing Director of Life and Health Limited have signed the agreement on behalf of their respective organizations.
Nabil Mustafizur Rahman, Deputy Managing Director, Nehal A Huda, FVP & Head of Cards, Dr Enamul Haque, Deputy Managing Director, Kazi Sharhan Saif, Executive Director along with other senior officials of both the organizations were present at the event.
Dhaka, April 8 (UNB)- Walton, one of the best local brand has recently extended the tenure of its ‘AC Exchange Offer’ until April 30 witnessing huge customers’ response.
Under this offer, customers have to submit their old or used air conditioner of any brand to any Walton Plaza or branded outlet and can purchase Walton’s new AC at 25 percent discount. Earlier, the offer was valid till March 31 while a large number of customers across the country exchanged their used ACs with Walton’s new ones.
Apart from the exchange offer, customers will get free electricity bill for a year under the nationwide ongoing Walton Digital Campaign Season 4.
Engineer Ishaque Rony, Chief Operating Officer of Walton Air Conditioner, said Customers of Walton brand 1-ton, 1.5 ton and 2 ton ACs are getting Tk 14,600, Tk 18,000 and Tk 21,600 as one year electricity bill through registering their newly purchased AC.
Moreover, all the customers of Walton ACs are now enjoying free installation facility.
Walton is now manufacturing and producing 15 models of 1 ton, 1.5 ton and 2 ton split air conditioners in the local market. Prices of these ACs are between Tk 35,900 and Tk 76,400. Walton is also producing 4 ton and 5 ton cassette and ceiling type ACs.
Dwelling on the extension of AC exchange offer’s deadline, Walton Group’s Executive Director Uday Hakim said the prime objective of this offer is to give the customers a chance to enjoy the benefits of locally made air conditioners.
Walton is providing 10 years guaranty on the compressors of inverter AC, 6 months replacement guaranty, easy installment facility up to 36 months and swift post sales services through more than 70 service centers all over the country.