Fuel price didn't hike without reason: Finance minister

Finance minister AHM Mustafa Kamal on Sunday said the government didn’t increase the price of fuel oil without a valid reason [logic].

He came up with this claim while replying to a journalist query following an event of National Board of Revenue (NBR) at a hotel in Dhaka.

The finance minister was the chief guest while the commerce minister Tipu Munshi as special one attended the programme.

When asked over the rationale of the fuel price hike, Mustafa Kamal said “What are the situations of the neighbouring countries? The price has not been hiked without valid reason (logic). [We] are repeatedly saying that we consider the situation of the people while increasing the price: How much they (people) can tolerate.”

However, the minister didn’t mention the reasons behind such a record hike.

He said the country’s consumers will be benefited if the oil price in the global market is decreased.

“The price [of oil] is decreasing across the whole world. We are also purchasing at a lower price. When this consignment will land in the country, then the pressure will lessen.”