War impact on agriculture and industry: Steps needed to deal with the crisis

The two main driving forces of Bangladesh’s economy — agriculture and industry — are facing a deep crisis today. The energy crisis is taking away the vitality of these two sectors.

The impact of the energy crisis caused by the Israel-US and Iran war has started to affect these two sectors of the country.

Despite bumper harvests of various vegetables and fruits in the country, farmers are facing extreme difficulties in transporting their produce.

It is learnt that various seasonal fruits and vegetables are being wasted before they reach the market.

Many are selling vegetables and fruits at prices lower than the cost of production.

If irrigation pumps are not kept operational, especially during the current Boro season, it will be impossible to achieve production targets.

As a result, the prices of daily necessities, including rice, may go beyond the purchasing power of the common people.

Meanwhile, the domestic industrial sector is also facing a deep crisis due to the lack of sufficient fuel.

In this situation, if oil prices are increased, production costs will increase and export orders will decrease.

Thus strict measures need to be taken to reduce wastage and systematic losses in the energy sector.

If the industrial slowdown continues, it will have a serious negative impact on the country’s employment and GDP growth.

In fact, the prolongation of this crisis is a bad sign for national development and food security.

To address this situation, the government should give special importance to energy distribution by prioritizing the agricultural and industrial sectors.

Some have highlighted the need for the government to urgently form a central ‘Crisis Management Committee’ or Task Force Committee or ‘Quick Response Team’ to overcome the energy crisis.

We must also find ways to increase the use of renewable energy as an alternative energy source.

With a view to reducing the pressure on fossil fuels and giving more importance to renewable energy sources has gradually become the focus of everyone’s attention.

Sources said if renewable energy infrastructure can be developed on the roofs of industrial plants or in various open bodies, then more than 10,000 megawatts of electricity can be generated.

But the issue should be given importance at the policy-level; otherwise it will remain on paper.

It must be remembered that protecting the agricultural and industrial sectors is not only necessary for the sake of the economy, but is also a question of the country’s existence.

Therefore, effective steps should be taken in this regard now. Otherwise, it will become difficult to maintain economic stability.