No direct subsidy given to fuel oil: energy minister

State Minister for Power, Energy and Mineral Resources Nasrul Hamid told parliament today that the government does not directly give any subsidy to fuel oil.

In reply to a query from AL MP Haji Selim, the state minister said BPC incurred a loss of about Tk 2,705 crore in 2021-22 fiscal, following increasing of price of all types of fuel oil due to the Ukraine-Russia war, even after the government adjusted the price of fuel oil.

BPC incurred this loss from its earlier profits without taking any subsidy from the government.

The state minister said that due to ongoing Russia-Ukraine war, there is a risk of loss of BPC in 2022-23 financial year as well. BPC has not received any subsidy from the government in this financial year either. BPC is bearing the losses from its previous profits.

In response to the question of M Abdul Latif, Nasrul Hamid said that seven foreign companies have invested US$ 3,483.59 million in Bangladesh in the last 14 years for the development of the gas sector.