BD won't face Sri Lanka-like crisis

A day after slashing fuel prices by a flat Tk5 per litre, Prime Minister Sheikh Hasina on Tuesday said the prices have been reduced to give some respite to the people.

Reiterating that there will be no Sri Lanka-like crisis in Bangladesh, the premier said, "Any conspiracy against us will be futile."

She made the remarks on Tuesday while addressing a programme organised by Dhaka North and Dhaka South Awami League to commemorate National Mourning Day.  

Earlier, PM Sheikh Hasina said she fully understands the sufferings of the people caused by the recent hike in fuel oil prices and power rationing, and assured that her government will surely slash fuel prices once they drop in the international market.

"We can realise the sufferings of the people…We will adjust fuel oil prices whenever they come down in the world market. I have given that directive too," said Premier Hasina, also the president of the ruling Awami League (AL), at a meeting with AL organising secretaries from eight divisions at Gonobhaban on 14 August.

Referring to the ongoing power crisis and countrywide load-shedding, she said people have to endure this pain for some more days.

She also directed the Ministry of Power, Energy and Mineral Resources, and the Bangladesh Petroleum Corporation (BPC) to spell out the reasons behind the fuel price hike to the people of the country.

Worsening economic crisis caused political upheavals in Sri Lanka, leading to massive resignation of ministers amid price spirals and shortages of food, oil and medicines. As external debt moutned and foreign reserve depleted, Sri Lankan central bank in April also announced the suspension of repayment of foreign debt.

In Bangladesh, fuel oils saw their record hike in prices at one go on 5 August, leading to a chaotic rise in transport fare, commodity prices and factory costs.  

The Energy and Mineral Resources Division hiked the price of diesel by Tk34 to Tk114, petrol by Tk44 to Tk130 and octane by Tk46 to Tk135 per litre on the day.

Fuel oil price hike has been one of the most discussed issues in the country that has further fuelled the already high inflation, causing people to fall into grave distress.

On 28 August, the government slashed import duties on diesel by over 10% in a move to tame soaring commodity prices.

The energy ministry reduced the prices of diesel, kerosene, petrol and octane by a flat Tk5 per litre on the following day. The price of diesel and kerosene is now Tk109, petrol Tk125 and octane Tk130 per litre.