If the pricing structure is reformed, the price of diesel will be 10. Research institute Center for Policy Dialogue (CPD) said that it is possible to reduce the price of petrol by 50 paise and 11.32 rupees.
The information was given by the CPD at a dialogue program on 'Market-Based Fuel Pricing: Government-Led Initiatives and Possible Amendments' at a hotel in the capital on Thursday (November 21). Khandkar Golam Moazzem, research director of CPD, said in the event, “Reforms are going on in all sectors. The energy sector is also feeling its breeze. There is an opportunity to determine the price of fuel oil considering the interest of the consumer. '
He said, 'BPC does not need subsidy because they make huge profits. If this profit adjustment will prevail consumer interest will also have a positive impact on electricity.'
CPD Research Associate Helen Mashiyat Priyati and Program Associate Faisal Qayyum presented keynotes at the dialogue.
Honorable Fellow of CPD was also present. Mostafizur Rahman and energy expert Professor Dr. M. Shamsul Alam.
In the original article, CPD said that if the price is determined according to market and international standards, it is possible to reduce the price of diesel by Tk 10.50, the price of kerosene by Tk 8.10, the price of petrol by Tk 11.32 and the price of furnace oil by Tk 0.71. The CPD proposes to give the Bangladesh Energy Regulatory Commission (BERC) the responsibility, authority to set fuel prices or the legal framework to develop a pricing model. They say that BERC will take consumer views through public hearings. Besides, it is necessary for the organization to quickly implement the pricing policy.
CPD says that the interest of the customer should be kept in mind when setting competitive prices. The price of fuel oil needs to be kept within the affordability of the consumer. Also, if the price increases due to currency depreciation, it can be adjusted later.
According to the original article, Bangladesh Petroleum Corporation (BPC) is not clear on which model or which law sets fuel prices. Consumers are also not comfortable with the price. Since 2015 they don't get subsidy because they make profit. Fuel prices offset the loss.
