President Mirza Fakhrul Islam Alamgir has identified the energy crisis as the biggest challenge facing Bangladesh’s economy, saying inadequate initiatives in the past to explore and extract domestic gas have weakened long-term energy security.
He made the remarks during a meeting with a 22-member delegation of the Bangladesh Textile Mills Association (BTMA), led by its President Shawkat Aziz Russell, at Bangabhaban on September 21.
He said developing economies such as Bangladesh were being particularly affected by the ongoing Middle East conflict and that the government was working to address the energy crisis.
The BTMA delegation informed the president that the latest fuel price hike would further increase pressure on the textile industry. The president assured the association of government support in addressing the sector’s problems.
BTMA leaders also called for retaining the National Board of Revenue’s decision to withdraw bonded facilities for imports of 10–30 count cotton yarn while allowing such imports against bank guarantees.
