Public hearing on gas prices hike proposal deferred

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Naim-Ul-KarimbrThe Bangladesh Energy Regulatory Commission (BERC) has deferred the date of public hearing on the proposal of Petrobangla seeking permission to enhance prices of natural gas, a top official of the Commission said Monday.brHe said the Commission has set a new date on September 24 for public hearing on proposal of the Petrobangla (Bangladesh Oil, Gas and Mineral Corporation) seeking permission to increase prices of gas by on an average 53.76 per cent.brChairman of the BERC Ghulam Rahman told the FE Monday We have deferred the date of the hearing to September 24 instead of previously announced September 17 as we needed additional time to scrutinise the proposal of Petrobangla.brHe further said The Commission will take decision on price hike of gas by mid October.brPetrobangla on June 23 applied to the BERC for allowing the state-owned corporation to increase the price of natural gas taka 142.75 from the existing rate of Tk92.84 per one thousand cubic feet.brThe state owned corporation buys gas from international oil companies (IoCs) in the country at an average rate of Tk230 per one thousand cubic feet and sells the same to its clients at Tk92.84.brPetrobanla proposed to set prices of per one thousand cubic feet of natural gas supplied to the Power Development Board and independent power producers and small power plants, fertiliser factories, and captive power plants at Tk90, Tk90 and Tk175 respectively marking 21.77 per cent, 41.93 per cent and 65.74 per cent rise respectively over their existing rates.brThe corporation also proposed to enhance prices of gas supplied to industries and tea gardens, and commercial ventures by 18.14 per cent and 20.11 per cent respectively and set prices at Tk175 and Tk280 respectively.brAn official of the Commission said the price of gas for one burner will be Tk 550 instead of existing Tk350 while the price of gas for two-burner will be Tk 600 instead of the present rate of Tk400.brIf we even take decision to allow Petrobangla to increase the price of gas we will not allow them to increase it at a time. We will set a timeframe for increasing prices of gas in phases so that the effect of price hike becomes minimal.brHe said 15 organisations including trade bodies and consumer rights' associations have registered themselves with the Commission for taking part in the public hearing where Petrobangla itself will present justification in support of its proposal.br