Anisul Islam Noor :
Bangladesh Petroleum Corporation (BPC) will earn a profit of about Tk2000 crore this year since the government has not effected international price rate in the local markets, source of Energy Ministry said.
The government paid Tk 33,480 crore as subsidy to BPC in last four years-Tk7350 crore in 2013-14, Tk 13,580 crore in 2012-13, Tk 8550 crore in 2011-12 and Tk 4000 crore in 2010-11.
If the flow of profit continues, the entity will be able to start its own development work, covering the past deficit, said A M Badrudoza, Chairman of BPC on Wednesday.
In a report, World Bank has shown that the Bangladesh’s energy sector is going to profit. Chief economist of the bank in Bangladesh Dr. Zahid Hossain has suggested fixing oil price based on the international market price.
In research of Bangladesh Institute of Development Studies (BIDS), it is found that subsidy in energy sector increased alarming in recent years due to government’s desire to set up diesel and furnace oil based power plants.
The government was forced to borrow USD one billion from International Monetary Fund for tackling pressure on macro economics, BIDS said.
Professor Shamsul Alam, Energy Adviser of Consumers Association of Bangladesh,
said, the government paid subsidy as the BPC was incurring loss.. Now BPC is making profit. Therefore, oil price should be decreased in the local markets.
The losses of BPC were Tk 9799 crore in 2010-11 increased to Tk 10551 crore in 2011-12. After raising fuel price for six times, the amount of loss came down to Tk 5527 in 2012-13 and to Tk 2480 crore in 2013-14.
Bangladesh Petroleum Corporation (BPC) will earn a profit of about Tk2000 crore this year since the government has not effected international price rate in the local markets, source of Energy Ministry said.
The government paid Tk 33,480 crore as subsidy to BPC in last four years-Tk7350 crore in 2013-14, Tk 13,580 crore in 2012-13, Tk 8550 crore in 2011-12 and Tk 4000 crore in 2010-11.
If the flow of profit continues, the entity will be able to start its own development work, covering the past deficit, said A M Badrudoza, Chairman of BPC on Wednesday.
In a report, World Bank has shown that the Bangladesh’s energy sector is going to profit. Chief economist of the bank in Bangladesh Dr. Zahid Hossain has suggested fixing oil price based on the international market price.
In research of Bangladesh Institute of Development Studies (BIDS), it is found that subsidy in energy sector increased alarming in recent years due to government’s desire to set up diesel and furnace oil based power plants.
The government was forced to borrow USD one billion from International Monetary Fund for tackling pressure on macro economics, BIDS said.
Professor Shamsul Alam, Energy Adviser of Consumers Association of Bangladesh,
said, the government paid subsidy as the BPC was incurring loss.. Now BPC is making profit. Therefore, oil price should be decreased in the local markets.
The losses of BPC were Tk 9799 crore in 2010-11 increased to Tk 10551 crore in 2011-12. After raising fuel price for six times, the amount of loss came down to Tk 5527 in 2012-13 and to Tk 2480 crore in 2013-14.
