Gas crisis in industries: Businessmen ‘being killed like intellectuals were killed in 1971’, says BTMA President Showkat

Highlights:

• Gas and energy crisis forcing factories to close
• Interest rate on loans still too high
• BIDA has failed to bring in a single investor, Showkat claims
• Warns of famine-like situation as more people become jobless

Businessmen in the country are being killed just like the intellectuals in the 1971 Liberation War, Showkat Aziz Russell, president of the Bangladesh Textiles Mills Association (BTMA) has alleged.

Highlighting the prevailing energy and power supply crisis, alongside what he called was a conspiracy against industries, he said, “If I talk about our industry, I will have to go back to 1971. The way intellectuals were killed in 1971, which was a great loss to the country, and now coming to 2025, in the same way industrial entrepreneurs and industries are being killed.” 

At a joint press conference to address the ongoing power and energy crisis attended by representatives from the FBCCI, BGMEA, BKMEA, LFMEAB, BCI and ICC-Bangladesh, Aziz, also chamber of Amber group, said most factories had to remain closed due to the crises.

“We don’t know how we will pay bonuses and salaries to workers ahead of Eid-ul-Adha. I think this is a kind of conspiracy against our industry. We are paying gas bills and bank loans too.”

Criticising the high rate of bank borrowing, the BTMA president said, “The interest rate is very high. Why? That’s because we are compensating for those who looted money [from the country].”

He also warned that the country could face a famine-like situation soon.

“There are layoffs everyday in the industry. People will come to the street after a few days. The situation will go out of control. There will be famine if industries are not saved from power and energy crises.”

He said in the last eight months, the Bangladesh Investment Development Authority had failed to bring in a single investor. 

“You are inviting foreigners to invest in the country which is a lengthy process. You need five years to establish a factory and come to production. Foreigners know that investment in Bangladesh is not viable. They know Vietnam is more profitable than Bangladesh.”

Addressing the programme, President of Bangladesh Chamber of Industries Anwar-Ul-Azim Chowdhury Parvez mentioned the ongoing unrest in the National Board of Revenue (NBR). 

He said, “There is a new thing…..NBR problems. The NBR and customs are not functioning now.”

Criticising the government’s decision of a ten-day holiday for Eid, Parvez said, “How can we afford ten-day long holidays? How does the government declare such long holidays? How can this be possible when we can’t afford to spare a single day?”

“About the ten-day holiday, the government asked us to consult with the trade union. What a government. Is it a government? Very unfortunate. If the government doesn’t want industries, then why do we have to go to jail?” said Parvez. 

About the ongoing gas crisis, he said, “There are plenty of discussions on what to do and how to do it. We had enough discussion. Government assured us of sufficient supply of gas and electricity but in the end, we see nothing but empty promises.” 

He said, “Industry will survive if 150-200 mmcfd gas is supplied in industrial areas like Savar, Ashulia and Gazipur.”

He added, “The government assured us of providing 150 mmcfd gas in Savar, Gazipur and Ashulia weeks ago and on top of that, another 100 mmcfd gas is supposed to be provided from additional LNG cargoes, which never materialised.”

Mentioning that bank interest rates became high and industrial output came down to 60%, he said, “We are being told that we have to pay ]workers’] salaries before Eid-ul-Adha. Government is threatening to arrest us.”

He also said, “The government will not supply us gas, and will increase bank interest rates. We have to pay the gas bill despite pressure 1-2 psi. I have to pay the bank loan also, whereas, production in industries came to a halt.”