No fuel price lowering soon, Muhith’s response to stimuli

No fuel price lowering soon, Muhith’s response to stimuli

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Finance Minister AMA Muhith on Wednesday said the government is not going to lower the fuel price anytime soon despite its fall in the international market.
He said this while talking to reporters after a pre-budget discussion with the secretaries of different ministries.
Muhith said the government is planning to make the best use of the opportunity to recoup the losses incurred by providing subsidies to the Bangladesh Petroleum Corporation (BPC) in the past and the oil prices will not be lowered until the losses are covered.The Finance Minister however has not come up with figures about the losses suffered, which is true, in the past when oil prices soared and soared the government did not change the prices of fuel oil in the internal market. However some upward revisions in the prices of gasoiline was made when the price of compressed natural gas was doubled.
The Finance Minister also noted that as the country is generating enough power to satisfy the national demand, no reservation will be shown in providing new connections to electricity.
Muhith said there is a shortage of gas, and the government is thinking of importing gas to meet the demand.
During the discussion, the Finance Minister enquired about the progress of the projects under the Annual Development Programme (ADP) and recommended their quick completion, particularly those related to road transports, according to officials who attended the meeting. – Unb

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