There was no alternative but to adjust fuel prices: State Minister

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In the wake of the Middle East crisis, the government was forced to adjust fuel prices, said State Minister for Power and Energy Anindya Islam Amit.

He said, “In the wake of the ongoing Middle East crisis, the price of fuel is continuously increasing, and the crisis is emerging before us every day at a new level and the cost is increasing, so the government had no alternative but to adjust the price of fuel at this moment.”

Amit said this at a briefing at the Secretariat on Monday. The State Minister said, “If we want to continue subsidizing only fuel oil, then the ongoing social security activities of the government will be severely disrupted.”

He said, “The hard-earned foreign exchange of our expatriates is the main sector of our reserves. We were facing a big risk as fuel oil purchased with that foreign currency being smuggled to neighboring countries. That is why the government had to adjust the price of this fuel oil. I hope the people will be able to understand this.”