Hint of no fuel oil price cut in PM’s remarks

Prime Minister Sheikh Hasina has all but taken the air out of the finance minister's assurance of a cut in fuel oil prices, reports bdnews24.com.
Her remarks in a meeting with business leaders on Thursday reinforced the planning minister's position a day before that fuel oil prices should not be lowered.
"You are used to these prices. It should not be a problem for anyone," Hasina said to top business lobby FBCCI leaders
The prime minister is in favour of cutting down Bangladesh Petroleum Corporation's accumulated losses instead of a price cut.
Oil prices in Bangladesh were last adjusted with the international market in 2013. Per litre price of octane was hiked to Tk 99, petrol to Tk 96, kerosene and diesel to Tk 68.
A shortfall in supplies of natural gas means the government is forced to burn oil - a more costly option - to generate electricity.
However, the international prices have been falling for the last year and the government has taken no initiative to review its rates again.
Last week, just a few days before the government hiked gas and power prices, Finance Minister AMA Muhith said the government had plans to review fuel oil prices this month.
But his colleague at the helm of planning ministry, AHM Mustafa Kamal, on Wednesday took a stand against any reduction of the prices.
The issue of oil price revision came up when the newly elected board of directors of the FBCCI, the leading body of businessmen and industrialists, met Hasina.
"Some people are asking why fuel oil prices are not being cut in the local market despite a drop in international prices," she said.
The prime minister pointed out that the government had subsidised oil prices when international prices were high.