Dhaka, June 8 -- Steel manufacturers have expressed deep concern over the government's decision to increase electricity tariffs, warning that the move will further raise production costs and add pressure to an industry already grappling with multiple challenges.

The Bangladesh Steel Manufacturers Association (BSMA) said the latest power tariff hike is expected to increase steel production costs by around Tk 3,650 per tonne. Industry leaders fear the additional burden will eventually be passed on to consumers, affecting construction, housing and infrastructure projects across the country.

The concerns were raised at a press conference held at the Zahur Hossain Chowdhury Hall of the National Press Club in Dhaka on Monday, where the associ...