No IMF condition behind fuel price hike: PM’s Adviser

There is no condition from the International Monetary Fund (IMF) requiring Bangladesh to raise fuel prices, Prime Minister’s Information and Broadcasting Adviser Dr Zahed Ur Rahman said on Tuesday.

He made the remarks at a press briefing at the Press Information Department in Dhaka in response to a question about whether the latest fuel-price hike was linked to any IMF condition.

The government raised the prices of all four petroleum products by Tk 20 per litre from Monday. Diesel now costs Tk 135, kerosene Tk 155, petrol Tk 160 and octane Tk 165 per litre.

The government has said the adjustment was made amid higher international fuel prices and increased import costs.

State Minister for Power, Energy and Mineral Resources Anindya Islam Amit also said the government had been forced to adjust prices amid the international and Middle East crisis.

Amit said the government had kept fuel prices below international levels despite mounting losses at Bangladesh Petroleum Corporation, while also citing concerns over fuel smuggling and the need to preserve funds for social protection programmes.