Govt assessing impacts on different sectors before raising oil, gas prices
Thursday, 19 June 2008
The government is actively considering raising the prices of oil and gas and an announcement of its hike is in the offing, reports UNB.
Chief advisor's Special Assistant for Power and Energy Dr. M Tamim today (Wednesday) dropped a broad hint of price hike reiterating its urgent need in view of oil price in the international market that soared to nearly US$140 a barrel.
"We're assessing the impact of price adjustment on different sectors of the economy. But I should not say when such an announcement will come," he told reporters on the sideline of a seminar.
Dr Tamim spoke at the seminar on "The Need of Energy Producers and the Government's Perspective" at Hotel Sonargaon, organised by the International Business Forum of Bangladesh (IBFB). Its president Mahmudul Islam Chowdhury was in the chair.
The government has doubled the price of compressed natural gas (CNG) barely a month ago.
Now it is considering raising the price of gas used for commercial, industrial and residential purpose and also fuel oil, sources said.
During the last three days Dr. Tamim repeatedly hinted at the gas, fuel price increase making his position clear in favour of the move.
FE Report adds: M Tamim said: "The government will not go for big investment in generating power. It will now go for PPP or will encourage the private sector to invest in power generation project."
The government will give priority to the industry, fertiliser and CNG filling stations for supplying uninterrupted gas. The alternative energy like coal will be popularised," Tamim, who was also a teacher of the Bangladesh University of Engineering and Technology (BUET), said.
Tamim said: "I strongly believe that the country will have no energy crisis for the next 20 years as there are adequate coal and probable gas reserves here. Present energy crisis, which is shorter one, will go in five years time as we have taken massive exploration programmes."
Petrobangla Chairman Jalal Ahmed said: "Petrobangla needs more funds for the state-owned exploration company -- BAPEX -- for more hydrocarbon exploration. The government's proposed $450 million fund for next seven years is not enough."
Chevron president Steve Wilson said the government should give more focus on utilisation of coal.
Chief advisor's Special Assistant for Power and Energy Dr. M Tamim today (Wednesday) dropped a broad hint of price hike reiterating its urgent need in view of oil price in the international market that soared to nearly US$140 a barrel.
"We're assessing the impact of price adjustment on different sectors of the economy. But I should not say when such an announcement will come," he told reporters on the sideline of a seminar.
Dr Tamim spoke at the seminar on "The Need of Energy Producers and the Government's Perspective" at Hotel Sonargaon, organised by the International Business Forum of Bangladesh (IBFB). Its president Mahmudul Islam Chowdhury was in the chair.
The government has doubled the price of compressed natural gas (CNG) barely a month ago.
Now it is considering raising the price of gas used for commercial, industrial and residential purpose and also fuel oil, sources said.
During the last three days Dr. Tamim repeatedly hinted at the gas, fuel price increase making his position clear in favour of the move.
FE Report adds: M Tamim said: "The government will not go for big investment in generating power. It will now go for PPP or will encourage the private sector to invest in power generation project."
The government will give priority to the industry, fertiliser and CNG filling stations for supplying uninterrupted gas. The alternative energy like coal will be popularised," Tamim, who was also a teacher of the Bangladesh University of Engineering and Technology (BUET), said.
Tamim said: "I strongly believe that the country will have no energy crisis for the next 20 years as there are adequate coal and probable gas reserves here. Present energy crisis, which is shorter one, will go in five years time as we have taken massive exploration programmes."
Petrobangla Chairman Jalal Ahmed said: "Petrobangla needs more funds for the state-owned exploration company -- BAPEX -- for more hydrocarbon exploration. The government's proposed $450 million fund for next seven years is not enough."
Chevron president Steve Wilson said the government should give more focus on utilisation of coal.