Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Wednesday, October 11, 2017 11:03:05 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Power tariff hike: Heed to business leaders` suggestions

By
12th-Oct-2017       
Comments
Share your thought
Post a comment »
Read all () »

BUSINESS leaders have strongly opposed the government's latest move to increase the tariff of electricity saying that the proposed hike would adversely affect the manufacturing sector which is also in disarray. Quoting businesses, the New Nation reported that the tariff hike will push up manufacturing costs thus eroding their competitiveness in the global export market. Local industries have already been suffocated for various internal and external factors and tough conditions of doing business in the country. When the industry sector is trying to recover, the move will dampen them in a hard time and it  should be perceived by the government.

We know the country's industry sector has passed a hard time after the last national election due to the political impasse, investment sluggishness, corruption in banks, Rana Plaza disaster, cargo embargo by the UK, and many more obstacles. In presence of political stability and completion of few road connectivity projects, speeding up of the shipments at the airports, and partially meeting power shortages, the industry sector is on the track to rejuvenation but the move to hike power tariffs would put an impassable impediment to export-based manufacturing units when the  trade deficit rises to near 245 percent greater than the previous year.

Bangladesh Energy Regulatory Commission (BERC) recently held a public hearing on power tariff hike proposals submitted by power distribution companies. Stakeholders including consumers and industrialists have opposed the government move to increase bulk power tariffs for distributors. A hike in power tariffs, in chain effect, will hit hard local industries, particularly the small and medium enterprises, steel re-rolling mills and the textile sector as they consume huge amounts of power to run production. They may face an average 8 to 10 percent production cost hike if the proposed power tariff is implemented. Moreover, it will increase the cost of doing business and hurt Bangladesh's export competitiveness and growth of SMEs. Businesses aggrievedly said the move will also hinder local and foreign investment.

We endorse the businesses call to keep power tariffs unchanged for at least two more years.


Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Bureaucratic tangles pushing back FDI


BUSINESS leaders and top executives of multinational companies on Sunday said that bureaucratic tangles, unpredictable tax policy, poor infrastructure and shortage of power and gas were main constraints for attracting foreign direct investment (FDI) in Bangladesh, as per reports of a local daily.At the 3rd Joint Chamber Meet-Up organised by ...

Sports »

Feliciano Lopez of Spain returns a shot against Ivo Karlovic of Croatia during their men's singles match of the Shanghai Masters tennis tournament at Qizhong Forest Sports City Tennis Center in Shanghai, China on Monday


Football »

Iceland's Ragnar Ragnusson (right) challenges Kosovo's Dragan Petric for the ball during the World Cup Group I qualifying soccer match between Iceland and Kosovo in Reykjavik, Iceland on Monday.


Entertainment »

Chanchal, Khushi to perform in Canada`s theatre stage


Sheikh Arif Bulbon :More than 10 years ago, National Film Award winner actor Chanchal Chowdhury went to Montreal, Canada to attend a musical show. After 10 years, he is going to Canada on tonight’s flight to attend a musical show again. Though they are attending a musical show but Chancha ...

International »

Trump`s govt to repeal Obama-era climate plan: EPA chief


The head of the US Environmental Protection Agency said on Monday that President Donald Trump's administration will move to repeal his predecessor Barack Obama's plan to restrict greenhouse gas emissions.Speaking in Kentucky at a political event attended by coal miners, EPA chief Scott Pruitt said he would on Tuesday "be ...

City »

BNP Secretary General Mirza Fakhrul Islam Alamgir, among others, at a memorial meeting on the occasion of Shaheed Zehad Day organised by Shaheed Zehad Smrity Parishad at the Jatiya Press Club on Tuesday.


Editorial »

DU and Education Ministry high-ups make fate of thousands of students uncertain


FATE of over 2.40 lakh students of seven colleges recently affiliated to Dhaka University (DU) is hanging in the balance, as various issues have not been resolved yet. Among the issues, one is that results have not been published on time. Second, examinations too have been delayed. Moreover, these colleges, ...

Football »

Women's floor exercise gold medalist Mai Murakami, center, of Japan, silver medalist Jade Carey, left, of the United States, and bronze medalist Claudia Fragapane, of Britain, show off their medals at the Artistic Gymnastics World Championships in Montreal on Sunday.


Entertainment »

First Look of Sara Ali Khan from Kedarnath is out


Director Abhishek Kapoor’s much-anticipated film Kedarnath is in news since its announcement. Sara Ali Khan, daughter of Saif Ali Khan and Amrita Singh is making her acting debut with this film opposite Sushant Singh Rajput.  Kedarnath is jointly produced by T-series, KriArj Entertainment and Abhishek Kapoor in association with Balaji ...

International »

France snubs independence bid


BBC Online :The French government has said it will not recognise Catalonia if it declares independence from Spain and such a move will mean expulsion from the EU.European Affairs Minister Nathalie Loiseau said the crisis following the banned 1 October referendum had to be resolved through dialogue within Spain.Catalan President ...

Editorial »

Interest free car-loan for bureaucrats to buy loyalty


THE government has introduced interest-free car loan facilities for high officials of administration, from Deputy Secretary and above ranks and some other cadres when the city is already overcrowded in terms of personal vehicles. The government opted for the line of credit from our bordering nation on tough conditions only ...

Sports »

Henri Kontinen of Finland (left) and John Peers of Australia pose for photos with the winners' trophy after beating John Isner and Jack Sock of the United States in the men's doubles championship in the China Open tennis tournament at the Diamond Court in Beijing on Sunday.


International »

Thousands demand Putin`s quit as birthday protests turn violent


AFP, Saint Petersburg :Russian police violently broke up a rally in Saint Petersburg as thousands took to the streets across Russia Saturday on President Vladimir Putin's 65th birthday, urging him to quit power.Heeding the call of jailed opposition leader Alexei Navalny to demand competitive elections, around 3,000 people rallied in ...

Entertainment »

DAISY AHMED Noted actress, Tagore artiste


Daisy Ahmed is at a time noted actress and Tagore artiste. She is wife of noted actor and director late Bulbul Ahmed. She passed her whole life rendering songs and acting. Today is her birthday. She will pass the day with two daughters and grandchildren. Later she along with her ...

City »

Bikalpadhara Bangladesh President Prof Dr AQM Badruddoza Chowdhury speaking at a roundtable on 'Role of International Communities, United Nations and Our's to Solve Rohingya Issue' organised by International Dialogue Aid Foundation at the Jatiya Press Club on Sunday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news