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Record gas price spike puts squeeze on Bangladesh garment makers

Factory owners fret about growth stalling if they lose competitive edge

DHAKA -- Apparel makers such as Dhaka-based Ananta Group are powering Bangladesh's economic expansion, the fastest in Asia, but a record high gas price spike threatens to derail the industry's growth.

In an attempt to cut losses from imported liquefied natural gas, the government raised gas prices by almost one-third on average, effective July 1, the start of the 2020 financial year. The country subsidizes gas and sells it at below production cost. 

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