Consequences of gas price hike

The government has increased the price of gas by almost 33 per cent recently. While increasing the price, the government stated that this is necessary as it has been purchasing Liquefied Natural Gas (LNG) at a higher rate from foreign countries.

Government has been importing LNG from last year in the backdrop of depleting reserve of gas. It is importing gas at Tk 35 per cubic metres whereas our locally-produced natural gas costs only Tk 5.0 per cubic metres. This increase in the price of gas will lead to consequences that will be shouldered by the common people who have fixed incomes.

The government through its capable state-owned corporations should continue the search for new gas wells in the country. Maritime sources should be explored as well.

Mohammad Zonaed Emran

A banker

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