Dhaka Chamber welcomes cut in fuel oil prices

Dhaka Chamber of Commerce and Industry (DCCI) welcomes the interim government's decision reducing fuel-oil prices.

"DCCI praised the interim government for taking the decision to reduce the prices of fuel oil at all stages adjusting with the international market," said a statement of the trade body issued on the day.

In the statement, the president of DCCI, Ashraf Ahmed, said that due to the timely decision, the cost of production in agricultural and industrial sectors would come down and thus a positive effect would be there on the transport sector.

"Due to the high cost of energy in the industrial sector and lack of uninterrupted electricity and gas supply, the cost of production and marketing of industrial products has increased, resulting in a rise in the overall cost of doing business in the country," said the statement.

High prices of energy locally fuelled the inflation that subsequently increased the cost of living and sufferings of the people.

Because of the cut in fuel oil prices, the cost of production in the industries will come down to some extent that will help increase our competitiveness in the international market," it mentioned.

The DCCI expressed the hope that the initiative would play an effective role in bringing down the inflation.

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