Govt has no plan to hike fuel prices: Energy Adviser

Despite a slight increase in global oil prices due to tensions in the Middle East, Energy Affairs Adviser Muhammad Fouzul Kabir Khan said the government currently has no plans to raise fuel prices in the domestic market.

“Any disruption in fuel supply will depend on how long the conflict continues. For now, we have short-term fuel arrangements. Although prices have risen slightly on the global market, fuel prices at home will remain unchanged. Adjustments will be made using BPC’s profits,” he told reporters after a contract signing ceremony at Bidyut Bhaban in the capital on Tuesday.

He also said that the Middle East conflict is under close observation and confirmed that there will be no increase in subsidies or local fuel prices. Efforts to cut costs in fuel imports are ongoing. “Only last week, we managed to save Tk 21 crore through a single tender,” he said.

Earlier, at the signing ceremony, the adviser said energy security is being given top priority. “There are already significant subsidies in the power and energy sector -- these cannot be increased further. So we must reduce expenses. Millions of dollars have already been saved.”

Sylhet-based Jalalabad Gas PLC has signed a gas sales agreement with LafargeHolcim.

Under the agreement, Jalalabad Gas will supply natural gas to Lafarge’s cement plant in Chhatak, Sunamganj.