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Industries experience gas shock

January 24, 2023

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In an effort to end subsidies and reduce the fiscal deficit, the government dramatically increased gas prices on Wednesday by 179%. The cost of gas used in the production of electricity has increased from Tk5.02 to Tk14 (179% surge). The cost of using gas is increased by 178% for small, cottage, and other businesses.

There were no price increases for residential, fertilizer, or tea production gas. The cost of producing and purchasing each unit of energy will rise by Tk2 for Bangladesh’s Power Development Board (BPDB). About 55% of all electricity is produced by gas-powered plants. If gas usage stays the same as it did during the previous fiscal year, the new gas price increase will help the government generate an additional Tk 26,846 crore in revenue per year.

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