42pc hike in electricity tariffs in the offing: Tamim
Wednesday, 2 July 2008
Chief Adviser's Special Assistant for Power and Energy Ministry Dr M Tamim said there is a proposal pending with Bangladesh Energy Regulatory Commission (BERC) on a 42 per cent hike in electricity tariffs, reports UNB.
Meanwhile, Finance Adviser Dr Mirza Azizul Islam Tuesday ruled out any possibility of the new fuel prices upsetting the move towards attaining a food security.
"I don't think the hike in petroleum prices will hamper the way for food security, as we're providing huge subsidy to the end-level farmers," he told the journalists after a meeting of the Food Planning Monitoring Unit at the Food and Disaster Management Ministry.
Food and Agriculture advisers and senior officials of different ministries attended the meeting.
The Finance Adviser gave an assurance that the subsidy to the farmers for buying diesel would be increased with the increased rates of petroleum prices.
He mentioned that the government has allocated Tk 5.40 billion in the new fiscal for providing subsidy to the farmers. "If necessary, the subsidy will be increased to minimise the farmers' loss due to their additional production cost."
About reports of unrest in the transport sector after fuel-price hike, the Finance Adviser said, "Anarchy after the rise of fuel prices is nothing new. Many countries are experiencing the same problems. But the energy and the communications ministries are responsible to check the problem."
Besides Dr Azizul, Dr Tamim also justified the government decision of raising petroleum prices saying that Bangladesh has no way to make itself immune from the world market phenomenon.
"So, we've to somehow adjust our prices to cope up with the world market," he told the reporters at his office in the Energy Ministry, as the new fuel-price rates came into effect from Tuesday.
"But despite the latest price hike, we're still the country of the lowest petroleum price," he added.
He also made the latest disclosure on the proposal placed on the table of the BERC for sharply raising the power price by 42 per cent. But, after a public hearing, BERC will take its own decision about increasing the electricity tariffs.
He said the Power Ministry has no authority regarding the electricity tariffs rise. "It's the BERC who is now the appropriate authority to make the decision as to how much it would allow raising the tariffs," added Dr Tamim.
Meanwhile, Finance Adviser Dr Mirza Azizul Islam Tuesday ruled out any possibility of the new fuel prices upsetting the move towards attaining a food security.
"I don't think the hike in petroleum prices will hamper the way for food security, as we're providing huge subsidy to the end-level farmers," he told the journalists after a meeting of the Food Planning Monitoring Unit at the Food and Disaster Management Ministry.
Food and Agriculture advisers and senior officials of different ministries attended the meeting.
The Finance Adviser gave an assurance that the subsidy to the farmers for buying diesel would be increased with the increased rates of petroleum prices.
He mentioned that the government has allocated Tk 5.40 billion in the new fiscal for providing subsidy to the farmers. "If necessary, the subsidy will be increased to minimise the farmers' loss due to their additional production cost."
About reports of unrest in the transport sector after fuel-price hike, the Finance Adviser said, "Anarchy after the rise of fuel prices is nothing new. Many countries are experiencing the same problems. But the energy and the communications ministries are responsible to check the problem."
Besides Dr Azizul, Dr Tamim also justified the government decision of raising petroleum prices saying that Bangladesh has no way to make itself immune from the world market phenomenon.
"So, we've to somehow adjust our prices to cope up with the world market," he told the reporters at his office in the Energy Ministry, as the new fuel-price rates came into effect from Tuesday.
"But despite the latest price hike, we're still the country of the lowest petroleum price," he added.
He also made the latest disclosure on the proposal placed on the table of the BERC for sharply raising the power price by 42 per cent. But, after a public hearing, BERC will take its own decision about increasing the electricity tariffs.
He said the Power Ministry has no authority regarding the electricity tariffs rise. "It's the BERC who is now the appropriate authority to make the decision as to how much it would allow raising the tariffs," added Dr Tamim.