No immediate plan to review fuel oil prices: Tamim
Sunday, 23 November 2008
FE Report
Special assistant to the Chief Adviser for Power, Energy and Mineral Resources M Tamim has said the government has no immediate plan to review the domestic fuel oil prices.
He said this while talking to journalists after inaugurating the "1st International CNG Exhibition 2008" at the Bangladesh-China Friendship Conference Centre in the capital on Saturday afternoon.
In the wake of decrease in petroleum oil price in the international market, the government re-fixed fuel prices in the country on October 26 last.
After reviewing the fuel oil prices in the global market, the government will decide whether it is necessary to reduce the prices of petroleum products or not, Tamim said.
"Currently, in the external market, fuel prices have decreased in US 50 dollars per barrel. It is a good sign. But nothing cannot be done immediately regarding re-fixation of the price of the products in the country. Because, the price may fall further or spike again in the coming days. We witnessed such situation in the past. So, fuel oil price will be adjusted every three months in the country, if needed, after reviewing the prices of the commodities in the international market, he mentioned.
Earlier, Professor Tamim inaugurated the four-day-long international CNG exhibition.
Speaking at the opening ceremony, he said, " Some of the country's CNG filling station owners are cheating people. They are giving less quantity of gas to their customers while charging excess money from them."
Warning the CNG re-fuelling station owners of stern actions if found guilty of deceiving their customers, he said, the government will have no option but to launch drive against them to stop such malpractice in order protect the country's prospective sector from corruption.
Stressing the need for efficiency and honesty in the CNG sector, M. Tamim said, the CNG business-related people should run their trade by complying with international standard along with ensuring utmost safety.
Among others, Power and Energy secretary Mohammad Mohsin, Petrobangla chairman Jalal Ahmed, president of Bangladesh CNG Filling Station and Conversion Workshop Owners Association Shafiul Islam Kamal spoke on the occasion with chairman of Global Event Management Services Monowara Hakim Ali in the chair.
Special assistant to the Chief Adviser for Power, Energy and Mineral Resources M Tamim has said the government has no immediate plan to review the domestic fuel oil prices.
He said this while talking to journalists after inaugurating the "1st International CNG Exhibition 2008" at the Bangladesh-China Friendship Conference Centre in the capital on Saturday afternoon.
In the wake of decrease in petroleum oil price in the international market, the government re-fixed fuel prices in the country on October 26 last.
After reviewing the fuel oil prices in the global market, the government will decide whether it is necessary to reduce the prices of petroleum products or not, Tamim said.
"Currently, in the external market, fuel prices have decreased in US 50 dollars per barrel. It is a good sign. But nothing cannot be done immediately regarding re-fixation of the price of the products in the country. Because, the price may fall further or spike again in the coming days. We witnessed such situation in the past. So, fuel oil price will be adjusted every three months in the country, if needed, after reviewing the prices of the commodities in the international market, he mentioned.
Earlier, Professor Tamim inaugurated the four-day-long international CNG exhibition.
Speaking at the opening ceremony, he said, " Some of the country's CNG filling station owners are cheating people. They are giving less quantity of gas to their customers while charging excess money from them."
Warning the CNG re-fuelling station owners of stern actions if found guilty of deceiving their customers, he said, the government will have no option but to launch drive against them to stop such malpractice in order protect the country's prospective sector from corruption.
Stressing the need for efficiency and honesty in the CNG sector, M. Tamim said, the CNG business-related people should run their trade by complying with international standard along with ensuring utmost safety.
Among others, Power and Energy secretary Mohammad Mohsin, Petrobangla chairman Jalal Ahmed, president of Bangladesh CNG Filling Station and Conversion Workshop Owners Association Shafiul Islam Kamal spoke on the occasion with chairman of Global Event Management Services Monowara Hakim Ali in the chair.