Govt had no choice, fuel price hike necessary: State Minister

The government had no choice but to increase fuel oil prices, State Minister for Power, Energy and Mineral Resources Anindya Islam Amit has said. He also assured that if international fuel prices fall, the domestic prices will be reduced promptly, adding that the Middle East crisis will be resolved soon.

The state minister was speaking to journalists at the Secretariat on Monday, June 1, the first working day after the long Eid holiday.

Explaining the price hike, Amit said social safety net programmes such as education, health and family cards cannot be expanded if fuel prices are not adjusted. If a large portion of state revenue is spent on subsidies, all sectors will suffer, he added.

The government wants to reduce electricity production costs. With this goal in mind, good news for the renewable energy sector is expected in the upcoming budget, the state minister said.

He also noted that due to natural disasters during the Eid holidays, some areas experienced power outages, which prevented people from enjoying a comfortable Eid.