Bangladesh’s textile millers have lost work orders worth US $ 1.0 billion in recent months due to gas supply, followed by production closures by and large. Therefore, the textile mill owners are reportedly ready to pay more for gas to ensure an uninterrupted supply of gas during the upcoming winter season.
Addressing a press conference, the President of BTMA Mohammad Ali Khokon, which is the textile millers’ body in Bangladesh, proposed to pay Taka 22.83 per cubic metre of gas from the existing Taka 16.33 per cubic metre.
It may be noted that Pakistan is also facing a shortfall of 2 million tons of Re-gasified Liquid Natural Gas (RLNG), which may lead to a decline of $5bn in textile exports during the current fiscal year, according to industry estimates.
The ongoing invasion of Russia against Ukraine has led to gas price hike the world over, thus making it difficult for emerging economies like Bangladesh and Pakistan to import gas at affordable price. Therefore, the textile industry in both countries is in deep trouble due to the shortage of gas for production purposes.
The Bangladeshi textile millers are ready to pay more for gas to ensure an uninterrupted supply. However, no such offer has been made by the millers in Pakistan where the mantra of regionally competitive rate is being repeated by the millers to get gas at subsidized rate even in such an abnormal situation.
