Fuel price hike not now, says Salehuddin

Finance Adviser Dr Salehuddin Ahmed said Tuesday that the government is observing the Iran-Israel conflict and would not increase fuel-oil prices right now.

"We are not going there [raising oil prices]. We will wait further," he told newsmen after a meeting of the Advisers' Council Committee on Government Purchase at Bangladesh Secretariat in the capital.

He said the prices of some commodities increased due to the impacts of the ongoing conflict. "But that did not affect our previously-placed orders."

Replying to a query, Mr Ahmed said the government is observing the situation. "If liquefied natural gas (LNG) prices go up, we will take care of that."

"Today we gave approval for one cargo of LNG imports and that was quoted at previous rates," he said.

The adviser said if the conflict continues for long, "it will have a big pressure on us".

Asked whether the government is taking necessary preparations to face the possible impacts if the conflict lingers, Mr Ahmed said the energy ministry may be taking measures.

"We are highly dependent on LNG. The war will have impacts not only on fuel but also fertiliser and shipping as ships ply the Strait of Hormuz," he said.

However, the adviser thinks that the conflict may not last long.

Meanwhile, the Advisers' Council meeting on the day gave approval for the procurement of LNG and fertiliser, among others.

Petrobangla will import one cargo of LNG from M/S Excelerate Energy LP, USA at a total price of Tk 6.12 billion.

Also, the committee approved another proposal from the Bangladesh Chemical Industries Corporation (BCIC) for importing 30,000 tonnes of bagged granular urea fertiliser from Karnaphuli Fertiliser Company Limited at a price of Tk 1.40 billion, with each tonne costing $383.25.

syful-islam@outlook.com