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Country's industrial sector facing myriads of challenges: BCI Prez

Published : Sunday, 26 January, 2025 at 12:00 AM  Count : 400
Price hike of gas, electricity, interest rates on bank loans, depreciation of taka and wage hike of  workers have created severe challenges for the country's industrial sector. 

President of Bangladesh Chamber of Industries (BCI) Anwar-ul Alam Chowdhury (Parvez) told reporters at a press conference at its own office in the city on Saturday.

He said due to rising commodity prices, inflation and political unrest, about 100 garment factories have already closed and another 200 factories are waiting closure. Imports of raw materials, machinery and spare parts have decreased. 

In this situation, it has become difficult to keep the wheels of the country's economy moving. He also said in a country of unemployed, more and more unemployed people are created. If this situation continues, it is not clear how those who will form the government in the future will keep the wheels of the economy moving.

In response to a question on foreign investment, Anwar-ul Alam Chowdhury (Parvez) said, "If domestic investment does not increase, foreign investment will not also increase. In the prevailing situation, both domestic and foreign investments have decreased." 

He said, those who are in the government now should get the wheels of the economy moving and those who are outside should provide all-round support to the current government.

Such cooperation will further boost the economy when new government comes to power, he said adding "Bangladesh now stands second in garment exports. Vietnam stands first. There is huge opportunity for garment sector to grow but we are missing this opportunity." 

He also said, "They are under pressure now because a big country is putting pressure on China. There was a possibility of utilizing this opportunity. But we are not able to do so." 

He said, "I will give a proposal to the government in the next 2 to 3 weeks. It will mention how to keep the manufacturing sector running. I will urge the government to take steps accordingly," he pointed out.

Present at the press conference were BCI Sr. Vice president Mrs. Priti Chakraborty, BCI Director  Shahidul Islam Niru, Delowar Hossain Raja, S.M. Shah Alam Mukul and Zia Hayder Mithu and  Jahangir Alam.



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