Cold storage owners demand 20% power bill rebate, 30% potato export incentive amid sector crisis
The association also urged Bangladesh Bank to create a Tk 6,000-8,000 crore refinance or special assistance fund to provide the sector with loans at a 5% interest rate.
Highlighting a severe crisis in the cold storage sector caused by falling potato prices, the Bangladesh Cold Storage Association (BCSA) on Saturday (1 August) placed a set of demands before the government, including a 20 percent discount on electricity bills and an increase in cash incentives for potato exports to 30 percent.
The association placed these demands at a press conference held at its office in Paltan, Dhaka. BCSA President Mostafa Azad Chowdhury presided over the event and read out the written statement.
To keep the cold storage industry viable, BCSA demanded either a 20 percent discount on electricity bills or the complete withdrawal of recently increased power tariffs.
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The association also urged the government to increase the cash incentive on potato exports from the existing 10 percent to 30 percent to boost foreign sales. BCSA President Mostafa Azad Chowdhury noted that the current 10 percent export incentive is inadequate to expand export volumes.
Additionally, citing rising electricity costs and overall inflation, the association called for an increase in cold storage retention fees. Currently, the rental fee for storing potatoes stands at Tk 6.75 per kilogram.
The association placed several demands before Bangladesh Bank as well, requesting that the cold storage industry be categorized under the agriculture sector.
BCSA further proposed that the central bank set up a refinance or special assistance fund worth Tk 6,000 crore to Tk 8,000 crore to provide loans to the sector at a 5 percent interest rate.
