Invoice Bazaar Blog

‘Bangladeshi SMEs will have to retrench workers or slash profit margins to survive’

By Invoice Bazaar | January 22, 2023

The recent hike in prices of gas and electricity in Bangladesh will push up the production costs of the industrial sector, and small businesses may find it challenging to survive without retrenching workers or reducing profit margins. Revealing this, Sameer Sattar, President of Dhaka Chamber of Commerce and Industry (DCCI), said amidst the ongoing crisis, owners of industrial units would have to decide whether they want to resort to layoffs or reduce profit margins to ensure the survival of their businesses. The Bangladesh government raised the average price of electricity by 5% on January 13 and the retail price of gas by 14.5% on January 18.

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