The FBCCI Standing Committee on Iron, Carbon Steel, Stainless Steel, and Re-rolling Industries on Monday sought the government's support on an urgent basis to deal with the escalating of raw materials.
The demand came from the second meeting of the committee. The industries are facing severe problems on increasing the high price of the raw materials in the world market, shortage of electricity and gas in factories, the FBCCI leader opined in the meeting.
In this situation, the steel, rod, and cement industries of the country are suffering from extreme crises even though the businessmen of this sector sought the government's support on an urgent basis to deal with the crisis.
Meanwhile, due to the shortage of electricity and gas in the factory, production has also decreased. Low production has made it difficult to repay bank loans, creating a risk of default, they said.
In this situation, businessmen in these sectors called for the government's support to sustain the steel, rod, and cement industries of the country.
FBCCI President Md. Jashim Uddin said that the steel sector is directly involved in the development of the country. It is very important to turn this sector around to continue industrialization and other development.
He demanded a dollar fund for the import of raw materials along with uninterrupted electricity and gas supply to factories.
Jasim also sought banks’ cooperation in opening import LCs.
The meeting was presided over by the chairman of the committee and chairman of the Bangladesh Steel Manufacturers Association Manwar Hossain
FBCCI vice-president M A Momen, former first vice-president Mohammad Ali, Director SM Jahangir Alam (Manik), committee Co-chairmen Md. Shahidullah, Dr. Sumon Chowdhury, and Engineer Shafiqul Haque Talukder, among others, spoke at the meeting.