President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Mohammad Hatem has said that the country’s export-oriented manufacturing industry is facing a severe crisis due to ongoing gas shortages and banking system disruptions. In an interview with Bangladesh Pratidin, he stated that gas shortages have made it impossible to run industrial machinery, while banks are failing to support the sector—leading to daily financial losses.

"Power supply issues exist too, but the gas crisis is far more serious for industries," Hatem noted. "Factories are being forced to shut down production due to the unavailability of gas. Right now, the crisis is at its peak. There was a period when the supply was stable, but for the past several days, the situation has worsened in areas like Dhaka, Narayanganj, Ashulia, and other industrial zones. In some places, gas pressure is zero, in others it’s just 0.5 or 1 percent. It’s impossible to operate factories under such conditions, so we’re having to shut down machinery."

The BKMEA President further criticised banks for what he described as "deliberate non-cooperation" with the industrial sector. "There is an ongoing struggle with banks. They are delaying back-to-back LCs (letters of credit) and closing accounts when payments are overdue. Even after receiving export orders, banks are not issuing the required back-to-back LCs. In some cases, factories are sent back and forth by the bank for 20 days. By the time the product is ready, the buyer says the shipment date has been missed and demands air shipment or a discount—causing us significant financial losses."

Hatem urged immediate intervention to resolve both the energy and financial crises affecting the country’s most vital export sector.