Dhaka, May 18 -- A confluence of factors -- dragging on inflation, a dollar shortage and rising utility prices -- had already punctured the country's manufacturing spirit. The recent record surge in the dollar, jumping Tk 7 in a single day, has only compounded these difficulties for manufacturers who rely heavily on imported raw materials.

Faced with rising production costs, manufacturers across various industries -- from steel and cement to ceramics and pharmaceuticals -- are struggling to maintain sales and remain competitive.

With sluggish sales for the past two years due to inflation, they are now hesitant to further burden consumers by raising prices. Besides, uncertainty about future business prospects and a deepening dollar crisi...