Prime Minister Sheikh Hasina has ordered to cut subsidies for electricity and gas before advising to gradually move away from subsidy in the sectors, Planning Minister MA Mannan said.
The premier’s instruction came on Tuesday during the meeting of Executive Committee of the National Economic Council (Ecnec).
"The prime minister has advised to move away from subsidies and instructed to formulate strategies for it,” Mannan told the media, emerging from the weekly meeting.
According to him, the issue of subsidies was discussed at length during Tuesday’s meeting.
“Subsidy is not justified. Subsidy is not a charity … It is a grave issue. We must move away from this system," said the planning minister.
The government, however, will continue to provide subsidies for the farming sector, State Minister for Planning Shamsul Alam said.
“Subsidies for industrial sector will be cut down. Subsidies in agriculture and in inputs for the low-income people will continue,” he told a media call after the meeting.
