a year ago

BGMEA urges govt to readjust diesel price

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Bangladesh Garment Manufacturers and Exporters Association (BGMEA) urged the government to readjust local diesel oil price citing the decline in price of the fuel oil in the international markets.

The trade body on October 02 in a letter, signed by its president Faruque Hassan, to Prime Minister made the demand. The Financial Express (FE) has obtained a copy of the letter.

Mr Hassan in the letter said they (factory owners) have to use diesel run-generators to keep continue the production works at their units due to the electricity crisis and load shedding.

As a result, demand for diesel is also gone up, he noted.

Price of diesel was Tk 80 per litre last year which raised to Tk 109 this year, he said in the letter.

The international price of diesel has decreased so the local rate needs to be readjusted to help the sector sustain its export growth, the BGMEA president said requesting refixing the price in line with global rate.

Bangladesh fetched US$42.61 billion from RMG export in the last fiscal and BGMEA sets $100billion export earnings target by 2030.

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