Finance Minister AMA Muhith, on Sunday, has ruled out any immediate downward adjustment of oil prices amid suggestions by economists and business leaders for such adjustment.
He spoke of the government position on oil prices while talking to reporters after a meeting with the Metropolitan Chamber of Commerce and Industry (MCCI) in Dhaka.
The minister, however, did not specify any time for the formulation of the policy and adjustment of oil prices.
MCCI President Syed Nasim Manzur raised the issue at the meeting in which Muhith said the government would consider it.
Later, while talking to reporters, he said, “The matter is not being considered right now. This is the sentiment of the government.”
“We have no specific policy on it (oil prices). We’re trying to formulate one. We hope there will be some revisions after that,” he said.
Asked how much time the revision might take, the minister said, “I cannot say as the highest level of the government is involved in it.”
Oil price plunge in the international market has helped Bangladesh Petroleum Corporation (BPC) to offset the losses it had sustained before, he added, according to a news agency. - Idrak