Prices have not been revised since 2009
The energy regulator has announced to hold public hearings to fix the price of liquefied petroleum gas (LPG).
The move by the Bangladesh Energy Regulatory Commission (BERC) comes just a week into its chairman facing a contempt rule for not complying an earlier court order to fix prices.
“In compliance with a court order, we are going to hold the hearing for three days, on January 14, 17 and 18,” BERC Member Md Maqbul-E-Elahi Chowdhury told Dhaka Tribune on Sunday.
On November 29, the High Court issued the contempt of rule against the BERC chief.
The rule sought explanation why the allegation of contempt of court should not be brought against him as he failed to implement an earlier the High Court directive over fixing LPG price.
The BERC chairman was given two weeks to respond to the rule.
BERC has not revised the price for LPG since 2009.
Currently, only 18 out of 58 approved companies, including state-owned Bangladesh Petroleum Corporation, market LPG across the country after importing it.
LPG consumption in the country has witnessed a whopping four-fold growth over the past three years, with households, commercial entities and vehicles increasingly relying on the fuel.
The country has a demand for nearly 713,000 tons of LPG this year, says the Energy and Mineral Resources Division.
But the BPC can only supply 20,000 tons, so the lion’s share of the LPG market will be controlled by private companies.