Staff Reporter:
State Minister for Power, Energy and Mineral Resources Anindya Islam Amit yesterdaysaid fuel prices had to be adjusted to prevent smuggling.
Fuels are purchased with foreign currency. But due to low price in the neighbouring countries it was being smuggled. So it was very crucial to increase the fuel price.
Moreover, due to Middle East war the price of fuel shoot up in the international market, compelling the government to give huge subsidy for fuel. Such subsidy should be contained to continue the government’s social protection programs, he said.
The state minister said this at a press conference held at the Secretariat yesterday.
Referring to fuel prices in neighboring and other countries, the state minister said, in term of Bang-ladesh currency the price of diesel per liter is Tk 134.76 in Kolkata; Tk 164.83 in Myanmar; Tk 161.24 in Nepal; Tk 179.42 in Sri Lanka; Tk 151.22 in Thailand; Tk 137 in Vietnam; Tk 140 in the Maldives; Tk 168.53 in the Philippines; Tk 185.48 in Pakistan; and Tk 144.79 in Dubai of United Arab Emir-ates.
He said that if the automatic pricing mechanism were fully implemented in line with international market prices, the price of diesel should have been fixed at Tk 205 per litre. However, considering the financial burden on the general people, the public transport sector and farmers dependent on irrigation, the government has kept the price considerably lower and at a tolerable level by provid-ing substantial subsidies.
“Under such circumstances, the adjustment had become necessary to prevent smuggling and en-sure the continuation of the government’s social protection programs,” he said.
The government last night adjusted fuel prices at the consumer level for September in line with international market prices. Under the adjustment, the price of diesel was fixed at Tk 135 per liter, octane at Tk 165, petrol at Tk 160 and kerosene at Tk 155.
