Electricity tariff hike a challenge for private sector: DCCI president

The recent retail electricity tariff hike, although relatively minimal, will ultimately create an additional economic burden on the smooth operations of the private sector and power intensive industries, said Dhaka Chamber President Sameer Sattar.

In a press release Saturday (14 January), the DCCI president said, "The private sector is already struggling with high inflation and devaluation of local currency along with other economic challenges. The increase in electricity tariff will create a challenge for the private sector." 

The DCCI president expressed his hope that the government will continue to adjust the tariff rationally in order to minimize the adverse impact on the private sector and local industries. 

He also appealed to the government for a competitive, predictable and gradual hike in electricity tariff in order to avoid any sudden price shock to the private sector. 

He said, since price hike is inevitable given the current situation, it is important that a predictable price hike policy is put into place by the government so that the private sector can make necessary planning for their businesses ahead. 

Through this, he continued, the private businesses will be able to take considered decisions as to how they will strategize their businesses for the days to come. 

He also highlighted that the government should be prepared to bring the power prices down once the challenges are over, adding, "It should not be a one-way road."

Sattar also urged the government to explore renewable and alternative energy sources and more importantly, prioritize local gas exploration. 

To deal with any power shortage, the government should regularly check the efficiency of all power plants and minimize any system loss, he added.