SK Bashir Uddin: TBS sketch
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SK Bashir Uddin: TBS sketch
Doing business is difficult if there is no consistency in policies and credibility of data. We become hopeful when we get data related to the economy from the Bangladesh Bureau of Statistics, but it does not match with reality when we start working at field level.
We make investments based on data on our population, GDP, per capita income and other things, but our sales do not match our estimation. Entrepreneurs cannot make a plan without proper data and utilise our capacity.
We calculate all the costs when we invest, but it becomes very difficult to progress if the cost of fuel increases up to 300%.
As far as I know, $2 billion has been invested in the textile industry in the last two years. All of this is now at serious risk as energy costs rise at an unpredictable rate.
Our demand for electricity is around 11,000 MW, but we generate 24,000 MW, and there is a possibility that it will reach 32,000 MW. In case of gas, there is a demand of 3,500 mmcf/d (million cubic feet per day), while 2,600 mmcf/d is produced. The rest of the demand is met with imported LNG, but the price of gas is not supposed to exceed Tk20 per unit. We do not understand how it crossed Tk30.
We have witnessed a sharp decrease in the price of LNG. It once reached $70, but currently, it is $22. It can drop as low as $10.
I see a bright future for our…
