Some unscrupulous traders have been buying empty cylinders of Liquefied Petroleum Gas (LPG) from the market and selling them to steel re-rolling mills at low prices for the last few months.
As the price of steel soars, this illegal practice has become profitable for them to mint money off LPG cylinders, ignoring the risks it poses, and this increases the probability of accidents during the scrapping of cylinders, as well as sparking a cylinder crisis in the market.
Subsequently, investors in this sector are facing huge losses, reads a press release.
Cylinders are made using high-quality steel as a safety precaution and the cost of producing these cylinders is high, so the LPG suppliers market these cylinders with subsidies as they want to deliver LPG cylinders at affordable prices to the customers.
When the gas runs out, the cylinders are returned back to the LPG supplier for refilling.
However, many unscrupulous traders are taking advantage of this middle ground.
They collect empty cylinders from the market/households and sell them to steel traders. On the one hand, there is an increase in the danger of accidents from cylinder scrap; likewise, LPG suppliers are facing losses – which is having an adverse impact on the market.
By taking empty cylinders and selling them to steel factories, immense damage is being done to the LPG industry of the country, thinks different quarters associated with the LPG industry.
They demanded that traders and transport owners involved in the illegal sale of empty cylinders should be brought under the law. Hence, they urged the country's law enforcement agencies to come forward.
In Bangladesh, the LPG sector business is gradually expanding and in order to accelerate the development of this sector, the tyranny of the fraudulent businessmen behind this crime must be stopped in no time.
