No fuel oil price cut now: State minister

The government has currently no plan to slash down the prices of fuel oil, state minister for power, energy and mineral resources Nasrul Hamid told parliament on Sunday.

The disclose came in response to question from independent MP Md. Rustum Ali Faraji during a question-and-answer session in parliament. Faraji asked the minister whether the government has any plan to curtail the fuel oil price.

In his scripted answer, the state minister said the fuel oil price is on the rise in the international market over the past one year and still that is continuing.

He said the dollar price is increasing everyday in the country and if it continues, the Bangladesh Petroleum Corporation (BPC) may face loss again.

“Due to this reality, it is not possible to raise or lower the oil prices as it goes ups and downs in the international market,” said the state minister.

He said the BPC is still bearing the accummulated loan burden of over 274 billion taka (27,419.81 crore) for selling fuel oil at subsidised rates.

Nasrul claimed that the people will not be benefited directly if the fuel oil prices are curtailed.

In response to another question, the state minister for power, energy and mineral resources said the implementation rate of 17 projects in the power sector is zero.

Source: Prothom Alo

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