Fuel prices still lower than neighbouring countries even after hike: Hasan Mahmud

Even after the latest hike in fuel prices in Bangladesh it is equal to India and comparatively lower than the other neighbouring countries, information minister Hasan Mahmud said on Saturday.

He made the remark Saturday at a seminar marking Sheikh Kamal’s 73rd birth anniversary at Dhaka University, UNB reports.

Hasan Mahmud said the government provided a subsidy of Tk 530 billion dollar in fuel and power sector in the last fiscal year.

“The neighbouring countries have not provided any such subsidy and as a result they had to raise the fuel prices long before Bangladesh,” he added.

“India has been selling diesel at Tk 114 per litre and octane at Tk 134-135 per litre, which is equal to the current price in Bangladesh. As our price was lower, a large amount of fuel was being smuggled to India through borders,” Hasan Mahmud said.

He further said,” Diesel is being sold at a rate of Tk 114 per litre (as per local currency) in Kolkata and at Tk 112 per litre in other parts of India.

In China, the price of diesel is Tk 118, in United Aram Emirates it is Tk 123, it is Tk 127.82 in Nepal, in Indonesia Tk 138.24 and in Singapore Tk 189. 78,” said the minister.

Regarding the increase in transport fares he said, if there are 70 per cent passengers in a 50-seated bus the fare will increase by Tk 0.29 per kilometre only.

“Currently, a passenger has to pay Tk 1.80 per kilometre which will increase by Tk 2.90. Soon the government will hold meeting with all concerned parties to ensure no one takes unfair opportunity of the fuel price hike,” said Hasan Mahmud.