The ongoing global energy crisis could place an extra burden of around Tk610 billion per year on Bangladesh, significantly straining the national economy, warned Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed on Thursday. He called for urgent strategic measures to tackle the emerging challenges.
Taskeen made the warning while delivering a keynote paper at a round-table discussion titled “Navigating the Global Energy Shock: Impact on Bangladesh & Way Forward” held at the DCCI auditorium in the capital.
According to Taskeen, Bangladesh’s near-total dependence on imported energy - nearly 95 per cent of the country’s consumption - makes it highly vulnerable to international price swings, particularly amid ongoing geopolitical tensions in the Middle East.
“If global crude prices stay above $120 per barrel, Bangladesh could face an additional $4-5 billion in annual costs, alongside rising subsidies for LNG and fuel imports,” he said.
The DCCI president highlighted that soaring fuel prices are already driving inflation, widening fiscal deficits, and putting pressure on foreign exchange reserves.
He added that each $10 increase in oil prices could raise the country’s annual expenditure by roughly $1 billion, while cumulative losses at the Bangladesh Petroleum Corporation have surpassed Tk45,000 crore.
Energy shortages are also impacting industries, with gas supply to factories cut by nearly 40 per cent and electricity deficits exceeding 3,000 MW. These constraints are affecting manufacturing output, export competitiveness, and domestic supply chains. Sectors such as garments, cement, steel and pharmaceuticals are particularly affected, with rising production costs, freight charges up by 20-40 per cent, and container surcharges of $500-$4,000 pushing up export prices.
Taskeen also stressed the socio-economic consequences, noting that small and medium enterprises face energy as a major constraint, rural areas are enduring 8-14 hours of load shedding, and rising diesel prices are increasing irrigation costs, posing threats to food security.
He urged Bangladesh to diversify energy sources, accelerate renewable energy adoption, secure long-term LNG contracts and improve energy infrastructure. Additional recommendations included promoting rooftop solar, rationing energy use, prioritising export-oriented industries for uninterrupted supply, and expanding storage capacity.
“Without a coordinated and forward-looking energy strategy, Bangladesh risks sliding from a fragile recovery into a structural economic crisis,” Taskeen warned, emphasising immediate policy action to protect growth and industrial competitiveness.
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