Global trends, not just energy shortage, behind export slump: Textiles minister
Textiles and Jute Minister Khandakar Abdul Muktadir urged future investors to move away from 'fuel-intensive' setups and instead focus on establishing 'less fuel-intensive' factories to ensure long-term sustainability.
Energy shortages are not the sole cause of hampered production and declining exports, Textiles and Jute Minister Khandakar Abdul Muktadir said today (25 April), clarifying that global market trends also play a significant role in the fluctuations.
Speaking to journalists after visiting a knit industrial village at the Chittaranjan Cotton Mills site in Godnail, Narayanganj, the minister emphasised that while the government prioritises power generation, the private sector remains a key part of the distribution chain.
Recent export fluctuations are driven more by sluggish global demand than internal fuel shortages, he added.
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Addressing concerns over the energy crisis, the minister said it is inaccurate to blame the fuel crisis alone for reduced export figures, citing a "mild global slowdown" as a major determining factor
He urged future investors to move away from "fuel-intensive" setups and instead focus on establishing "less fuel-intensive" factories to ensure long-term sustainability.
Regarding the recent hike in energy prices, Muktadir stated there is no logical ground for a "dramatic" increase in bus fares or the prices of daily essentials
He called for increased vigilance and monitoring from all stakeholders to prevent businesses from taking undue advantage of the fuel price adjustments.
On the subject of industrial infrastructure, the minister noted that while two plots under the Bangladesh Textile Mills Corporation (BTMC) have already been utilised for industrialisation, two more are in the pipeline to be handed over to the same institution.
Muktadir acknowledged that the remaining BTMC plots face local occupation issues but assured that these complications would be resolved quickly to facilitate further investment.
State Minister for Textile and Jute Md Shariful Islam, BTMC Chairman Brig Gen SM Zahid Hasan, and Narayanganj Deputy Commissioner Md Raihan Kabir were present during the visit.
The delegation also inspected a garment factory named Bornali Collection Limited within the industrial village.
