The Bangladesh Steel Manufacturers Association (BSMA) requested a return to previous electricity rates during a press conference in Dhaka.

According to BSMA leaders, the newly implemented power tariff hikes add approximately 3,650 Tk per ton to steel production expenses when factoring in related operational costs. This financial strain threatens to raise market prices, possibly impacting national infrastructure, housing, and industrial construction projects.

The industry currently faces significant underutilization. Although around 40 modern steel mills and over 150 re-rolling mills possess a joint annual production capacity of 12.2 million tons, domestic demand sits at only 5 million tons.

BSMA President Jahangir Alam warned that the increased energy costs weaken the sector's ability to maintain regular operations and fund new investments.