Despite the declining price of oil in the international market, the government is yet to decide on whether to cut the price of fuel oil in the domestic market.
“We talked to the Ministry of Energy…we are not going to cut fuel price right now,” Finance Minister AMA Muhith told a discussion on “Prospects and Challenges of Investment in Industries” arranged by the Bangladesh Chamber of Industries in a city hotel yesterday.
The minister said the fuel price may further decline in international market and if it stabilises at a certain level, its price may be cut domestically.
In sharp contrast, Muhith on August hinted that fuel prices might be reduced within the next two weeks to pass the benefits of falling oil prices on the global market to the consumers.
On Monday, brent oil cratered to its lowest price in more than 11 years to around $36, according to reuters.
Speaking at the discussion, the prime minister’s energy adviser Tawfiq-e-Elahi Chowdhury said the government does not want to re-fix the fuel oil price again and again, but rather wants to keep its price sustainable.
He added that if the oil price declines and stabilises in international market, the government will consider cutting fuel oil price.
About industrial power demand, Muhith said the government will ensure uninterrupted power supply to the country’s industries within the next two years.
Wherever industrial parks are set up, power supply must be ensured, he added.
To check industrial pollution, the finance minister said the government will adopt a policy to set up central effluent treatment plant (ETP) in all industrial areas.
“The government will set up ETP in industrial areas and you (industrialists) must pay a charge to use it.”
Recalling the importance of jute, he said jute products still have export value, so the government should never ban the jute products. “We should always remain alert (to its potential).”
in his address, Tawfiq-e-Elahi said the government will set up some 10 wells to explore oil and gas all over the country and it is expected that gas would be supplied to all factories and industries within the next two years.
Uninterrupted power would be supplied to all cluster industries, he added.
