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Commerce Adviser Sheikh Bashir Uddin stated on Thursday that reduced corruption has created an opportunity for energy prices to decrease. The prices had soared under the previous government’s energy procurement deals, but now there is potential for a reduction.
He made the remarks while speaking at the opening ceremony of the 19th Dhaka International Textile & Garment Machinery Exhibition 2025 in Dhaka.
Bashir, who also serves as the textiles and jute adviser, emphasised the importance of increasing the use of renewable energy, particularly solar power, to reduce production costs and stabilise energy prices.
He encouraged businesses to adopt solar energy at the lowest possible cost, citing Akij Group’s commitment to replacing gas with electricity from the Renewable Energy Board (REB). The group plans to generate 50% of its energy through solar power.
Addressing the post-LDC graduation scenario, Bashir pointed out that preferential market access would no longer be available. He urged businesses to reduce fixed costs to maintain competitiveness and improve efficiency.
Federation of Bangladesh Chambers of Commerce and Industry Administrator Hafizur Rahman highlighted the significance of such exhibitions in identifying sustainable technologies to address industry challenges. Bangladesh Textile Mills Association President Showkat Aziz Russell noted that the sector has invested $22 billion, ensuring it meets 100% of the knitwear requirements for export-oriented industries. He added that further investments could be made if the government provided a long-term forecast of gas prices and bank interest rates for the next decade, as uncertainty deters investors.
The event also saw remarks from Akai Lin, Director of Overseas Operations at Yorkers Trade & Marketing Services Co Ltd, and Fazlee Shamim Ehsan, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association.
The BTMA, in partnership with Yorkers Trade & Marketing Services Co Ltd, is organising the 19th DTG from 20 to 23 February at ICCB, Dhaka. The exhibition, Bangladesh’s largest textile machinery event, will feature 1,600 stalls and over 1,100 top brands from 33 countries. Exhibitors from China, Germany, India, Italy, Japan, South Korea, and Turkey will showcase innovations in textile machinery, fabric production, dyeing technology, and accessories. The event will also feature discussions, seminars, and the DTG Fashion Show from 21-22 February in Hall 3 of ICCB.
