Finance Minister Kamal is in favor of raising fuel prices after criticism

Speaking to reporters after a meeting of the Cabinet Committee on Economic Affairs and Public Procurement on Wednesday, Kamal said he believed the fuel price hike was "completely reasonable". “How long will the government subsidize? Consumers should share something because the government has to spend after earning, ”he said. The government raised fuel prices by 23 percent a week ago, citing instability in global markets and forcing transport owners and workers to strike. They called off the strike after authorities agreed to increase bus and launch fares and increase freight charges for trucks. The increase is also affecting the prices of other products and the cost of doing business. “We lower prices when they fall [global prices]. And when they rise, we raise prices. When it is impossible to continue, we should all tolerate it, "said the finance minister. But Golam Rahman, president of the Consumers Association of Bangladesh or CAB, questioned the rise in diesel prices, saying it was "unreasonable" to repeatedly change fuel prices based on volatile global markets. "Bangladesh Petroleum Corporation has earned crores of rupees by selling oil when the price of oil was low in the world market. They should be asked what they have done with the money, "he said. Questions have also been raised about a 27 per cent increase in bus fares for a 23 per cent increase in diesel prices. The Center for Policy Dialogue noted that 40 percent of the cost of running a bus is fuel. That means the rent should have been increased by 10 percent. When a reporter drew Kamal's attention to the CPD's statement, he said he would look into the matter and reply at the next briefing. 1 2 3 4