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No direct subsidy given to fuel oil: Nasrul Hamid

Published : 31 May 2023 09:14 PM

State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Wednesday said that the government does not directly give any subsidy to fuel oil.

In reply to a tabled question from AL MP  Haji Selim, the state minister said the Bangladesh Petroleum Corporation (BPC) incurred a loss of about Tk 2705 crore in 2021-22 fiscal year, following increasing of prices of all types of fuel oil due to the Ukraine-Russia war, even after the government adjusted the prices. 

The BPC incurred this loss from its earlier profits without taking any subsidy from the government, he added.

The state minister said that due to the ongoing Russia-Ukraine war, there is a risk of loss of the BPC in 2022-23 financial year as well. The BPC has not received any subsidy from the government in this financial year either, and it is bearing the losses from its previous profits.

In response to the question of AL MP elected from Chattogram M Abdul Latif, Nasrul said that seven foreign companies have invested $3,483.59 million in Bangladesh in the last 14 years for the development of the gas sector.