The price of mild steel (MS) rod may soon cross Tk 1 lakh per tonne as production costs have risen due to a recent hike in fuel and energy prices amid the ongoing US dollar crisis, according to industry people.

The global economic crisis and supply shortage may fuel energy prices in Bangladesh, but the local rates should be adjusted and decreased when the international prices fall, Dhaka Chamber President Barrister Md Sameer Sattar said today.

Due to government interventions, the independent oversight of the Bangladesh Energy Regulatory Commission is being compromised, crippling its ability to ensure transparency in the sector, energy at a reasonable cost, and consumers’ interest protection.