Bangladesh’s worsening gas shortage has stalled industrial projects, disrupted factories and placed billions of dollars in investments and bank loans at risk, business and energy leaders warned Wednesday.
Trust Bank managing director Ahsan Zaman Chowdhury said Tk7,000 crore to Tk8,000 crore, approximately $567 million to $648 million, in industrial financing remained stranded because projects approved for gas connections could not begin operating.
Meghna Group of Industries chairman Mostafa Kamal said delayed connections had stalled projects backed by nearly $600 million from international lenders. Fifteen foreign companies had invested in the group’s economic zones, which created about 12,000 jobs.
Titas Gas Transmission and Distribution managing director Shahnewaz Parvez said no new industrial connections could be issued until supplies improve. More than 500 customers have paid connection fees but remain without gas.
Experts urged Bangladesh to increase domestic exploration, expand renewable energy and attract greater private investment.