The government is selling fuel at subsidized rates to keep prices within the purchasing power of the general public. As a result, Bangladesh Petroleum Corporation (BPC) has incurred a loss of Tk 27,669 crore and 79 lakh between March and October 25 this year.
The information was revealed by Energy and Mineral Resources Minister Iqbal Hasan Mahmud in response to a question from Jamaat-e-Islami lawmaker Syed Zainul Abedin in the national parliament. The minister stated that if international fuel prices decrease further, consumer-level prices in the country would be revised in accordance with the automatic pricing guidelines.
Imports Sustained Through Own Funds
Despite selling fuel at prices lower than the international market, the corporation has kept its import operations running for eight months using its own funds. The report indicates that BPC is managing this loss through its own arrangements without any additional government allocation.During Thursday's parliamentary session, discussions also covered the energy and power sector's crisis, subsidies, imports, construction of new infrastructure, and extraction of domestic mineral resources in response to questions from various lawmakers. The minister highlighted different aspects of the government's policies and the overall situation of the energy sector in his statement.
Possibility of Price Adjustment
The minister indicated that fuel prices in the domestic market would be adjusted if international market conditions remain favorable. He said this adjustment process would follow the automatic pricing guidelines. However, he did not specify any timeline or potential price levels during the parliamentary session.According to analysts, if the government's subsidy policy continues to protect consumers amid volatility in the international market, BPC's financial pressure could increase further. However, no formal announcement has been made by the government regarding reducing subsidies or increasing prices.
