The output of the country’s steel and cement industries has dropped by over a third as a result of the power and gas crises, a rise in raw material prices on the worldwide market, and a lack of US dollars.
According to a press release issued by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), manufacturers urged the government to provide assistance to the steel, rod, and cement industries. Lower production has made it impossible for them to repay bank loans, putting them at risk of becoming defaulters.
Due to US dollar shortages, the local currency has lost roughly 25% of its value against the US dollar. They need constant gas and power supply for steel and cement industries, as well as priority in opening letters of credit for raw material imports.
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