Industry Suffers from Gas, Power Crisis; Seeks Measures to Recover Losses

CHATTOGRAM, Aug 08: The Chittagong Chamber of Commerce and Industry (CCCI) has said industries are suffering financial losses due to disruptions in gas and electricity supplies. Against this backdrop, CCCI President Mohammad Amirul Haque wrote separate letters to Finance and Planning Minister Amir Khosru Mahmud Chowdhury and Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmud on Saturday, seeking measures to help industries recover from the losses.

In the letter to the Finance and Planning Minister, the chamber requested that interest on bank loans be waived and loan instalment payments be suspended for three months to partially offset the financial losses incurred by industries.

In a separate letter to the Power, Energy and Mineral Resources Minister, the CCCI requested that industrial gas and electricity connections not be disconnected for the time being to ensure uninterrupted production. It also sought a 90-day grace period for industries to pay their utility bills.

The chamber further requested the government to temporarily relax the existing rules requiring monthly payment of electricity and gas bills and grant a 90-day moratorium on bill payments without any penalties.

Production at various manufacturing industries, including garments, textiles and plastics, has been severely disrupted by prolonged gas and electricity supply problems. As a result, many factories have been forced to shut down or place workers on unofficial layoffs.

The letter said industrialists should be given an opportunity to recover from the unexpected financial losses caused by circumstances beyond their control. To this end, it proposed that gas and electricity connections of factories not be disconnected for the time being and that industries be granted a 90-day penalty-free moratorium on utility bill payments for at least the next six months.

According to the CCCI, swift and effective measures to stabilize gas and electricity supplies and reduce financial pressure on industrial enterprises would help strengthen the country's industrial and investment environment.