The latest quantum leap in fuel-oil prices may further fire up the already-stinging inflation, Finance Minister AHM Mustafa Kamal fears, as its backlash started in no time.
"It is usual that fuel-oil-price rise causes price hike of everything," he told newsmen Wednesday at his secretariat office, indicating knock-on effects of pricier fuels.
The minister said economy is closely linked with fuel oils, thus rising oil price will enhance prices of products and services. That will have impacts on overall economy and lifestyle.
Asked whether the government is planning anything for the poor who are suffering immensely for price spirals, the minister briskly said "government is for all".
"(Yes) the poor are the major sufferer and to give them some sort of relief from agony the government in the past implemented open-market sale of foodstuff and sold products at subsidised rates through the Trading Corporation of Bangladesh," Mr Kamal added.
The finance minister will take decision on new set of assistance for poor people after discussion with the Prime Minister to give them relief from the impacts of further rise in inflation.
To another query, the minister said the line ministry had placed their logic before raising fuel-oil prices. And the ministry of finance will assess impacts of the price hike on people's living.
Inflation flared up to 7.56 per cent this past June--a nine- year high--which in July fell slightly to 7.48 per cent following a bit fall in food inflation.
On a quirky rise of dollar price, the holder of the exchequer told the reporters that the greenback's price increased everywhere. Those who are involved in war and those who are provoking them, everyone is feeling the hit of dollar-price hike.
"The government is working to contain the dollar-price hike. The price will be stable soon," Mr Kamal hopes.
On removal of heads of treasury of six banks, the finance minister said everything should go by law. There are rules how much dollar can be kept in a bank and how much can be invested. "If anyone defies the rules, he must get punished."
syful-islam@outlook.com
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