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The Bangladesh Garment Manufacturers and Exporters Association has requested the government to readjust the diesel price on the local market in line with the price fall of the item on the international market.
The BGMEA on Monday sent a letter to prime minister Sheikh Hasina saying that the demand for diesel was increasing in the readymade garment sector as factory owners were forced to use generators to keep production uninterrupted in their units amid a severe load shedding.
The price of diesel was Tk 80 a litre in 2021, which raised to Tk 109 a litre in 2022, the letter said.
The latter signed by the BGMEA president Faruque Hassan said that the readymade garment sector and others would be benefited if the government readjust the price of diesel on the local market in line with the fall in price of the fuel on the international market.
Seeking policy support from the government, the BGMEA president said that it became necessary to readjust the diesel price on the local market for the sake of export growth.
Considering the continuation of employment generation, foreign currency earnings and economic development, the trade body demanded supply of diesel at the readjusted price for the export-oriented RMG factories.
The government on August 5 increased the prices of all fuel oils at the consumer level, raising the prices of petrol, diesel, octane and kerosene by almost 50 per cent.
The prices of diesel and kerosene were raised by 42.5 per cent to Tk 114 per litre from Tk 80, while the price of petrol was raised by 51.16 per cent to Tk 130 a litre from Tk 86.
Amid criticisms, the government on August 29 cut fuel oil prices by Tk 5 per litre and set the prices of diesel and kerosene at Tk 109 a litre from Tk 114 a litre.
The BGMEA in its letter to the prime minister said that Bangladesh fetched $42.61 billion from apparel exports in the financial year 2021-22.
The trade body also set $100 billion export earnings target by 2030.
Readjustment of diesel price on the local market was important to sustain the export earnings growth, the BGMEA said in its letter.
(NA)
