Commerce Minister Khandakar Abdul Muktadir on Friday said that the recent fuel price hike will have only a minimal impact on inflation, assuring that the government will manage the situation to protect consumers.
“The diesel price has increased by 15 percent. This slight increase may raise commodity prices by around Tk 0.30 per kilogram, which will not have any major negative impact on overall inflation,” he said.
Muktadir, who also holds charge of the Ministries of Industries, and Textiles and Jute, made the remarks while speaking to journalists after inspecting preparations for the excavation of the historic Basia canal at Masukganj Bazar in Sylhet Sadar upazila.
He further said that Prime Minister Tarique Rahman is expected to inaugurate the canal re-excavation project on May 2.
The minister noted that although fuel is being imported at higher prices from the international market, the impact on the public would remain minimal as the government is taking necessary steps to manage the situation effectively.
He also said that even after the recent adjustment, fuel prices in Bangladesh remain lower compared to neighbouring countries.
Responding to concerns over increasing load-shedding in Sylhet, Muktadir said the current government, which assumed office only two months ago, inherited several irregularities and is working to address them.
He said Bangladesh continues to rely heavily on gas for power generation. “While the country produces around 17 million cubic feet of gas, an additional 9 million cubic feet must be imported to meet demand.”
He added that technical difficulties have affected adequate gas imports, contributing to the rise in load-shedding, but expressed optimism that the situation would improve soon.
The minister also said the government is working to expand LNG import capacity by inviting tenders for new terminals.
Regarding fuel imports from Saudi Arabia at higher prices, Muktadir said the government is focusing on strengthening reserves to ensure energy security and plans to build new storage facilities to reduce exposure to global market fluctuations.
He further said the Basia canal re-excavation project will cover 23 kilometres of the 40-kilometre canal, stretching from Masukganj in Sylhet Sadar to Jagannathpur in Sunamganj via Osmaninagar.
According to him, the project is expected to benefit around 90,000 farmers and enable additional crop production on nearly 20,000 hectares of land by ensuring irrigation during the dry season.
State Minister for Water Resources Forhad Hossain Azad, two local MPs, the Sylhet City Corporation administrator and deputy commissioner were, among others, present.
Source: UNB
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