Steelmakers voice concern over power tariff hike, urge review of decision

Steel manufacturers have expressed deep concern over the government's decision to increase electricity tariffs, warning that the move will further raise production costs and add pressure to an industry already grappling with multiple challenges.

The Bangladesh Steel Manufacturers Association (BSMA) said the latest power tariff hike is expected to increase steel production costs by around Tk 3,650 per tonne. Industry leaders fear the additional burden will eventually be passed on to consumers, affecting construction, housing and infrastructure projects across the country.

The concerns were raised at a press conference held at the Zahur Hossain Chowdhury Hall of the National Press Club in Dhaka on Monday, where the association urged the government to reconsider the decision and ensure an affordable energy supply for industries.

BSMA President Jahangir Alam, Secretary General Sumon Chowdhury and other office-bearers attended the conference.

The association's leaders said the tariff increase would undermine the competitiveness of local manufacturers and discourage fresh investment in the sector.

They also warned that higher energy costs could adversely affect employment and slow the pace of industrial and infrastructure development.

Calling for a review of the decision, the industry leaders urged the government to adopt supportive policies to safeguard the sustainability and growth of the country's steel sector.

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