Corona and Ukraine-Russia war situations have pushed up the price of raw materials in the international market, shipping and transportation costs. It is also affecting our economy. The concern of the business leaders is that if the price of gas and electricity goes up without overcoming the impact of Corona, the industrial sector will face serious problems. Business will be closed.
The recommendations made by the President of the FBCCI for the development of the energy and power sector include radical reforms in the overall management of the energy and power sector, urgent removal of irregularities, waste, illegal connections and closure of inefficient power plants.
No matter how much the policy makers of the government assure that ‘everything is fine’, the country’s economy is in a multidimensional problem. As the dollar rises, the prices of imported goods will naturally rise. On the other hand, although there is some relief in export earnings, expatriate income is declining. Meanwhile, premature floods in the Sylhet region are also signaling new dangers. When a large area of Sunamganj was inundated by the floods a month ago, the farmers were forced to take raw-ripe paddy home.
This government has a lot of success in the power sector. But traders agree with experts that the energy sector has become import-dependent rather than self-sufficient. The business leaders also questioned the rationale behind the delay in commissioning of large power projects and the operation of rental and quick rental power plants.