Finance Minister Amir Khosru Mahmud Chowdhury has said the West Asia conflict has increased Bangladesh's fuel oil and gas import costs by around Tk 400 billion, warning that the country is going through "very difficult times".
On Saturday, he pointed at disruption in the Strait of Hormuz, reports bdnews24.com
Speaking during an event at Chattogram Maa O Shishu General Hospital in Agrabad, he said it had affected shipping routes and fuel supply chains, forcing Bangladesh to raise domestic fuel prices despite efforts to stabilise the market.
"You think I am sitting on a treasury as finance minister, ready to write cheques and money will appear. It is not that simple," he said.
He added that around Tk 400 billion had already been absorbed from the budget due to higher fuel and gas costs linked to the conflict.
"Everything we inherited from the [Awami League] government was minus, minus and minus. There is nothing positive. Everything is negative debt. We now have to make that up," he said.
Khosru also said around Tk 500 billion in unpaid bills remained in the power and energy sectors from previous administrations, which the BNP government was now forced to clear.
"So we are in a deeply negative financial position. First we must recover from this, then the economy will move forward. I have already said it will take two years for the economy to stand back on its feet," he added. Tensions spiked in West Asia following a Feb 28 joint strike by Israel and the United States on Iran, which triggered counterattacks across Gulf countries hosting US military bases.
Turning to healthcare, he said the government had launched a major initiative to expand services and significantly increase budget allocation.
He said universal preventive and primary healthcare is a basic right, but many citizens have been deprived of it.
