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Worries over fuel price hike

Local manufacturers and exporters yesterday said the recent price hike of fuel will increase their production cost and undermine competitiveness.

“The production and distribution costs in the garment sector will go up, which will also cut competitiveness,” said Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association.

Asif Ibrahim, president of Dhaka Chamber of Commerce and Industry, said the price hike will increase production costs of garments, but the exporters would not be able to demand additional money from buyers in Europe and America, as their economies are under huge pressure.

Mustafizur Rahman, executive director of Centre for Policy Dialogue, said the hike would directly create pressure on the consumers. Indirectly, it will affect transport sector and production level, which will ultimately fall on the consumers.

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