The government has cut the prices of octane and petrol by Tk 10 a litre and diesel and kerosene by Tk 3 per litre to pass on to consumers the benefit of low fuel prices on the international market.
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 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.
The government has cut the prices of octane and petrol by Tk 10 a litre and diesel and kerosene by Tk 3 per litre to pass on to consumers the benefit of low fuel prices on the international market.
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 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.
