President urges use of alternative energy
Graphics: Agamir Somoy
President Mirza Fakhrul Islam Alamgir has stressed the need to reduce bank loan interest rates to accelerate investment and industrial development in the country. At the same time, he has called on industrial owners to increase the use of alternative energy, including solar power, in factories to address the ongoing energy crisis.
The president made the remarks when a delegation from the board of directors of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), led by its President Mohammad Hatem, paid a courtesy visit to Bangabhaban on Wednesday.
He further said the government has adopted finance, industry and business friendly policies to strengthen the country’s economy, create new employment opportunities and provide businesses with opportunities to recover. He said coordinated efforts by the government, private sector and all relevant parties are needed to maintain economic momentum and create a favorable environment for investment.
He said it is essential to make financing opportunities easier to increase new investment in industry. In this regard, keeping bank loan interest rates at a manageable level is important. If borrowing costs can be reduced, industrial entrepreneurs will be more interested in making new investments and expanding their businesses.
BKMEA President Mohammad Hatem highlighted the impact of the recent gas, electricity and energy crisis on the country’s garment industry. He informed the president about various challenges caused by the crises, including disruptions to factory production, problems in the supply chain and difficulties in maintaining export capacity in international markets.
In response, the president stressed the importance of increasing the use of solar power and other alternative energy sources in industrial facilities alongside long term planning to address the energy crisis. He advised industrial entrepreneurs to take initiatives to increase the use of such energy sources and keep production activities operational.
The meeting also discussed a letter related to the Bangladesh Textile Mills Association (BTMA). Regarding the matter, the president said the views of the relevant ministry and all stakeholders would be given importance when making the final decision. He also advised BKMEA to submit its views on the matter in writing to the relevant authorities.
During the courtesy meeting, BKMEA Executive President Fazle Shamim Ehsan, Vice President Md. Shamsuzzaman (CIP), Md. Morshed Sarwar Sohel, Ashiqur Rahman, Fakir Kamruzzaman Nahid and other members of the board of directors were present.
