Oil and gas prices kept under control with highest subsidy, says Mahdi Amin

The government has kept oil and gas prices in check with the highest subsidy despite the global crisis, Prime Minister's Advisor Mahdi Amin has said.

After a sports event in Cumilla on Tuesday, Mahdi said diesel in Bangladesh remains cheaper than in neighbouring countries.

Pointing to the military conflict involving the US, Israel, and Iran, he noted that the war in West Asia has driven energy costs higher across the globe.

The advisor maintained that while other nations raised prices sharply following the outbreak of hostilities, Bangladesh cushioned domestic consumers through “heavy” state subsidies.

The crisis is global, and the government is acting so that its pressure does not fall on the public, he said.

To tackle the energy crunch, the government is boosting solar power and pushing for more gas extraction at home, Mahdi added.

He said structures left by “fascism” and the global war caused the problems, and pledged solutions across the short, medium and long term.