Commerce adviser S K Bashir Uddin on Wednesday said that the interim government would engage with entrepreneurs before finalising the proposed gas price hike.

‘Although raising gas prices is an unpleasant decision, it is necessary to revise the rates upward. This adjustment will be carried out through the Bangladesh Energy Regulatory Commission (BERC) after discussions with entrepreneurs, the adviser said.

Bashir Uddin highlighted economic challenges inherited from the previous Awami League government, citing a white paper that estimates Tk 28 trillion was siphoned off during that regime.

‘This burden must now be borne by every citizen. Otherwise, the economy will face a deeper crisis,’ he warned.

The adviser made these remarks at the inauguration of the Garment Technology Tradeshow (GTB 25) and the Garment Accessories and Packaging Tradeshow (GAPEXPO 2025) at the International Convention City, Bashundhara, in Dhaka.

The event, jointly organised by ASK Tradeshows and Exhibitions Pvt Ltd and the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), features 500 exhibitors from 25 countries, including Bangladesh, India, China, Japan, South Korea, and Germany, showcasing advanced manufacturing technologies and innovations over four days.

Bashir Uddin clarified that the proposed gas price hike differed from approaches taken by previous governments.

He urged entrepreneurs to invest in renewable energy, describing it as the cheapest and most sustainable option for reducing dependence on gas.

Bangladesh Textile Mills Association (BTMA) President Shawkat Aziz Russel cautioned that doubling gas prices without prior consultation could force many factories to close.

‘If this decision is implemented without proper dialogue, how is the interim government different from the previous Awami League administration?’ he questioned.

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem termed the proposed hike ‘excessive and unjustified,’ criticising the lack of stakeholder engagement.

‘Why increase the price to Tk 70 or Tk 75 without thorough consultation? Such decisions create uneven competition between new and old industries and harm their international competitiveness,’ he said.

Hatem also advocated for a five-year delay in Bangladesh’s LDC graduation timeline, arguing that the previous government’s reduction in export incentives had harmed the local textile industry.

Former BGMEA President Anwar-ul-Alam Chowdhury Parvez emphasised the importance of the manufacturing sector to address unemployment, noting that 37 per cent of the educated population is currently jobless.

He cited high bank loan interest rates and rising fuel costs as additional challenges and questioned whether the government genuinely supports the manufacturing industry.

Korean Ambassador to Bangladesh Young Sik, speaking as a special guest, lauded Bangladesh’s strong manufacturing capabilities and vibrant garment sector.

‘Bangladesh is globally recognised as a key hub for the garment industry. Korea has consistently invested here and remains committed to strengthening this partnership,’ he said.

BGAPMEA President Mohammad Shahriar highlighted the contributions of the garment accessories and packaging sector, which accounts for $7 billion in deemed exports and $1.5 billion in direct exports annually.