The decision was taken by the cabinet committee on economic affairs at a meeting last month and Bangladesh Bank issued a circular in this regard yesterday.
Bangladesh will not supply electricity and gas to new factories established outside designated economic and industrial zones. The central bank, which believes that planned industrialization with proper land and energy management will ensure prosperity, has asked banks to secure mandatory clearance certificates from investors. Provide utility services before repaying loans.
The central bank also directed banks to secure mandatory clearance certificates from utility service providers before approving loans.
Although the Ministry of Energy and Mineral Resources issued a circular in 2020 on stopping providing new gas connections to industries outside economic zones and industrial zones from April 2021, the Government has have not seriously implemented this decision in the past 3 years.
According to domestic media, the central bank now feels planned industrialization with proper land and energy management is key to ensuring economic prosperity.
Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry, told a newspaper that the decision however did not apply to those who had set up factories outside government-designated industrial zones. .
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