No need to fuel price hike if BPC ends its corruption, theft: CPD

The government could have avoided the unprecedented hike in the fuel price by checking corruption, theft and mismanagement of Bangladesh Petroleum Corporation and improving the state-run agency’s efficiency, according to the Centre for Policy Dialogue (CPD).

The think-tank made the observations at a press briefing at its Dhanmondi office in the city on Wednesday.

According to the CPD, the price of octane per litre in Bangladesh is Tk 10 higher compared with price in neighbouring India while the price of diesel is higher by Tk 2.

The price of octane is higher by Tk 29 and diesel by Tk 16 compared to Vietnam which is Bangladesh’s biggest competitor in global ready-made garment market.

It also urged the government to revert decision for the fuel price hike saying, the impact of the hike will have a multiplier effect on the economy.

“The fuel price hike will push up the current 7.5 per cent inflation to a further higher level”, said Dr Fahmida Khairun, executive director of the CPD.

She made a presentation tiled: “Could Unprecedented Fuel Price Hike be Avoided Now?”