The minister of finance has sought the opinion of the ministry of energy on how to revise prices of petroleum downwards.
As per a projection put forward recently by the country's leading think-tank, the Centre for Policy Dialogue (CPD), we find that a 10 percent reduction in fuel prices could propel the country's GDP growth rate by 0.3 percent, or in dollar terms, nearly $5.2 billion; raise its export earnings by another 0.4 percent and household consumption by about 0.6 percent.
The oil price falls below $28 a barrel amid fears the lifting of Western sanctions on Iran could worsen the existing oversupply problem.
The logic being offered by the government for not adjusting the oil price in the country with the international price is that the BPC is making up for the huge 'losses' it has run up over the years.
While maxi-oil wars are playing out in the Middle East and North Africa we have our mini version of an oil battle to be won at home.
BNP demands that the government reduce power tariff after adjusting current oil price on international market and revising the deals signed with private power generating companies.
The minister of finance has sought the opinion of the ministry of energy on how to revise prices of petroleum downwards.
As per a projection put forward recently by the country's leading think-tank, the Centre for Policy Dialogue (CPD), we find that a 10 percent reduction in fuel prices could propel the country's GDP growth rate by 0.3 percent, or in dollar terms, nearly $5.2 billion; raise its export earnings by another 0.4 percent and household consumption by about 0.6 percent.
The oil price falls below $28 a barrel amid fears the lifting of Western sanctions on Iran could worsen the existing oversupply problem.
The logic being offered by the government for not adjusting the oil price in the country with the international price is that the BPC is making up for the huge 'losses' it has run up over the years.
While maxi-oil wars are playing out in the Middle East and North Africa we have our mini version of an oil battle to be won at home.
BNP demands that the government reduce power tariff after adjusting current oil price on international market and revising the deals signed with private power generating companies.
