Finance ministry releases Tk 11b to BPC

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The finance ministry Sunday released some Tk 11.00 billion to state-owned BPC to foot the country's oil import bills for the next three months, sources said.

The amount is, however, half of the demand made by the Bangladesh Petroleum Corporation (BPC) to foot the fuel import bills for June-September period.

Despite the allocation, which is first in the new fiscal, BPC will face trade gap of some Tk 11.00 billion in the first quarter of the current fiscal year.

According to the BPC, it will suffer operation losses of Tk 7.37 billion, Tk 5.6 billion and Tk 9.59 billion in July, August and September respectively.

The average monthly import cost of the country's fuel bills will be around Tk 34.00 billion during the period.

The BPC's income will be around Tk 19 billion on an average from the sales and loan it would get from the Islamic Development Bank (IDB) during the same period.

The caretaker government has kept aside around Tk 60 billion in the current fiscal budget for the fuel subsidy. The BPC was provided with more than Tk 60 billion subsidy in the last fiscal.