Govt wants transport fares cut with fuel price decrease

The government wants to see the “direct benefit” of fuel price cut in the transport sector, says State Minister for Power and Energy Nasrul Hamid.

“A direct benefit of drop in fuel price will be reduction in transport fares, but it is not happening. This time we want to see this happen,” he told the media on Sunday, referring to earlier price adjustments.

Finance Minister AMA Muhith has recently said fuel prices will go down 'soon.'

Speaking to reporters after a seminar on Sunday, Bipu said they were still 'examining' the extent of the fuel price revision.

He did not provide any time frame for that.

Earlier, in April, the government cut down fuel prices after a long global fall in oil prices.

Despite demand by business circles, the government took time to revise the fuel prices, arguing that the state-owned Bangladesh Petroleum Corporation was offsetting some of its mounting losses.

But after the fuel price cut, transport fares did not come down as expected.

Replying to a query, the state minister said they would also regulate prices of LPG so that it could reach more people.

The International Finance Corporation organised the seminar on “answering the challenges to adoption of farm waste to energy technology in Bangladesh” with the state minister as chief guest.