Industries and general people in Bangladesh are likely to pay more for fuel oil, gas and power as the country is going readjust the prices keeping with a global hike.
Media reports maintained this while adding the State Minister for the Ministry of Power, Energy, and Mineral Resources, Nasrul Hamid, has, reportedly, stated that the time has come to readjust the prices to a “reasonable” level.
Bangladesh’s foreign currency reserves dwindling fast, the country had already stopped procuring liquified natural gas or LNG from the spot market due to a price hike and this decision has affected power generation as more than 50 per cent of the Bangladesh’s power plants are fuelled by gas and due to the supply crunch, authorities have resorted to recurring power outages.
With this in the background, officials have, reportedly, been hinting at raising the prices over the past few days.
“We are waiting for the adjustment to power tariffs. We want another adjustment to gas and will have to go for an adjustment to oil prices too,” reportedly, claimed the State Minister for the Ministry of Power, Energy, and Mineral Resources recently.
