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Caustic soda, the most important chemical in domestic cloth production, is made using only salt and electricity. However, the price has tripled in the last six months due to various excuses. Cloth manufacturers are disoriented by the increase in the price of this chemical, which is one of the main ingredients of domestic cloth production.
At one time, like other raw materials, caustic soda was also imported from abroad. However, Bangladesh is now self-sufficient in the production of caustic soda, which is made using salt and electricity.
Narsingdi’s position is at the top in the production of export-oriented fabrics, including about 75 percent of the country’s demand. More than 5000 metric tons of caustic soda is being used per month in more than 200 factories of the district out of more than 3000 small and big factories.
Although the price of salt or electricity has not increased, the price of caustic soda has increased three times. Middlemen say they are also in trouble. The amount of capital investment increased even though the profit on the sale of caustic did not increase.
Traders are hopeful that it will be resolved by discussing with the concerned authorities soon.
Meanwhile, due to payment of revenue to the government at the previous price, the companies producing the costing soda are reaping an additional profit of Tk 250 crore per month without revenue from the Narsingdi market.