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“Overall consumption is down by about 25-30 percent. With no major development projects or new industrial investments, the sector is practically stagnant,” he said.

He added that gaps in leadership at several companies have compounded the problem. “Many owners are entangled in lawsuits or abroad. Without proper direction, expansion is nearly impossible.”

The sector consists of around 120 companies, ranging from large players to small-scale producers.

With an annual production capacity of Tk 15,000 crore, local manufacturers are more than capable of meeting the country’s total cable demand, which stands at approximately Tk 10,000 crore per year. But that capacity now lies underused.

AKM Ahsanul Haque, chief operating officer of Pertex Cables, said demand began weakening shortly after the last national election and has since deteriorated further.

“At one point, demand in the industrial segment dropped by nearly 50 percent, while sales in the real estate sector declined by around 60 percent as developers slowed or cancelled projects,” he said.

Retail demand, too, faltered earlier this year as individual homebuilders delayed construction.

Currently, cash flow remains the biggest challenge for the company.

“Many of our reliable customers who once paid on time are now struggling with liquidity, which delays our collections. That, in turn, affects our ability to pay suppliers and manage working capital,” he explained.

The banking sector’s troubles have compounded matters. “Dollar shortages and stricter banking rules have disrupted our raw material imports, often delaying shipments by two to three months,” Haque said.

Kamruzzaman Kamal, marketing director of Pran-RFL Group, which owns Bizli Cables, said political uncertainty had further dampened investment appetite.

“Those who once had liquidity are no longer investing,” he said.

“Power cable demand, tied to real estate and industrial infrastructure, has dropped significantly. Internet cable demand remains stable but is mostly for repair, not new installations. With office closures and stalled construction, there’s little need for new connections,” he added.

Besides, the last year has seen large-scale projects like metro rail extensions and state infrastructure schemes slowed down. “Only a few tenders remain active, and progress is minimal.”

The situation is similar across the industry, he noted. “The entire sector is stuck.”

A senior official at BBS Cables, requesting anonymity, confirmed that business has slowed for the company as well.

“The market is moving at a snail’s pace, and we’re seeing a clear slowdown,” the official said.

BBS Cables produces a full range of domestic cables, from low to high voltage, but demand across all segments has declined, added the BBS official. But with the national election on the horizon, things have started to change.

“Once a new government settles in and the business climate improves, we expect investment to return. This situation won’t last forever. For now, survival is our main focus after investing over Tk 1,000 crore,” BRB’s Rony said.

Pertex’s Haque said they are also witnessing some improvement.

“Recently, we have seen a slight improvement, with queries up by about 15-20 percent, largely due to renewed optimism surrounding the political transition,” he said.

He expects business to make a full rebound from the second quarter of next year. “Demand will begin to rebound if political stability holds and banking conditions ease.”