Bangladesh's abundant and affordable gas supply was a key factor in the establishment of numerous industries. Despite high investment costs, including infrastructure development and elevated bank interest rates, the low gas prices and comparatively inexpensive labor facilitated industrial growth.

Currently, gas prices have already increased significantly, and further hikes are being proposed. This suggests that policymakers are disinclined to support the continuation of the manufacturing sector in Bangladesh. The government's decisions indicate a shift towards favouring the service sector, implying that the manufacturing industry is no longer deemed necessary.

Implementing additional gas price increases will render the industrial sector uncompetitive. If production costs are not competitive, maintaining industries becomes futile. Given the country's large population, relying solely on the service sector is impractical for sustaining the economy and employment.

The current government appears to be following the same path as its predecessor. By restricting industrial development to economic zones, investors perceive a lack of genuine intent to promote the manufacturing sector.

The author is the President of the Bangladesh Chamber of Industries (BCI).