To protect and expand domestic industry, local company owners and industrialists have urged the government to ensure that businesses have a consistent supply of gas and electricity.
The request was made during the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Standing Committee meeting on Monday about the development and preservation of regional industries.
In order to attract new business owners, Md. Nizam Uddin Bhuiyan Liton, the chairman of the committee and managing director of Madhobdi Dyeing Finishing Mills Ltd., emphasized the importance of increasing the availability of gas and power.
The importance of increasing the number of bank loans available with low interest rates was emphasized by businessmen.
They expressed worry that an unstable fuel supply is the cause of rising industrial costs and the potential for company closures. They said that this situation demotivates the local industrialists.
“Building a developed Bangladesh is crucially dependent on protecting local industries,” said FBCCI President Mahbubul Alam, who was present virtually as the principal guest. To combat this, the government has included a few programs in this year’s budget. FBCCI is actively engaged in this issue as well.
He emphasized the necessity of developing competent personnel in these sectors and urged banks to engage more cooperatively in assisting local businesses.
Noting the advancements in home manufacturing, FBCCI Senior Vice President Md. Amin Helaly stated, “Nearly everything, including high-quality clothing, was imported in the past.” These days, practically all of these products are made in the country.
He reiterated that the government and FBCCI collaborate to offer policy support for the sustained expansion of regional industry. Other FBCCI co-chairmen and committee members, including directors Hafez Harun-Or-Rashid, Haji Md Abdul Hashem, and Alhaj Azizul Haque, were present at the meeting.
