Government will to act if hoarding creates LPG shortage, says Advisor Zahed

The government will crack down on traders trying to engineer an artificial LPG crisis through hoarding, despite sufficient reserves, Information Advisor Zahed Ur Rahman has warned.

At the weekly press briefing on government progress at the Secretariat on Tuesday, he said official reviews show import, stock and supply levels of LPG remain “healthy”, with importers and operators also confirming there is no shortage in the market.

Data from the National Board of Revenue (NBR) reveals Bangladesh imported 157,760 tonnes of LPG in August, followed by 118,000 tonnes through Sept 29.

"Despite having sufficient reserves, an upward trend in LPG prices has been observed in some areas, which has also been reported in the media," Zahed said.

"Instructions have been issued to remain vigilant so that no one can hoard LPG with ulterior motives to cause public dissatisfaction."

There is a growing trend of rising fuel prices on the global market, Zahed said, which may tempt some to hoard supplies.

"But if stockpiling is carried out with the intent of manufacturing an artificial shortage, the government will act on it."

The advisor said a consultative meeting was held on Monday at the Energy and Mineral Resources Division under the power ministry to review the state of the LPG sector, covering imports, stock, supply, market prices and related matters.

LPG importers and operators at the meeting assured the ministry that the country's supply and stock position remained sound, with no shortage in the market.

Rooppur Nuclear Deal To Have ‘No Impact’

Zahed also said Bangladesh's civil nuclear agreement with the United States would have “no negative impact” on the Rooppur Nuclear Power Plant.

Asked whether the deal could affect Rooppur, he said: "I don't think it will. Bangladesh has only just entered the nuclear era. We need to keep our options open going forward, given the country's future energy needs.

“Whether Bangladesh builds more nuclear plants down the line is a separate question altogether.”

"Nuclear power plants involve far more than fuel supply, there are complex considerations, including the training of engineers," the advisor said, adding that future agreements would be shaped by Bangladesh's own requirements, taking all this into account.

He said Bangladesh had, from the outset, prioritised its national interest in maintaining ties and engagement with different countries.

Despite tensions between the US and Russia, he noted, the foreign minister had still held talks with his Russian counterpart.

"Bangladesh will engage with whichever countries serve its interests, wherever the need arises, be it China, India, Russia or Turkey. There's no reason for this to pose any problem," Zahed said.