Finance Adviser Dr Salehuddin Ahmed has said the government is monitoring the Iran-Israel conflict and will wait before making any decision on raising fuel prices.
“We’re observing the situation. If the war prolongs, it could have an impact or exert pressure on us,” he told reporters on Tuesday (17 June) following meetings of the Economic Affairs Advisory Council and the Advisory Committee on Government Purchase at the Cabinet Division’s conference room in the Secretariat.
In response to a question on whether the conflict would affect fuel prices in Bangladesh, Dr Ahmed said, “We’re monitoring the war. We`ve already seen a slight increase in global prices. However, the shipments we’ve already ordered have not been affected.”
“We’re also monitoring gas and LNG prices. If those rise, we’ll take that into account,” he added. “Today we approved an LNG import proposal that was quoted at the previous rate. Fortunately, we’re getting it at that earlier price.”
“For now, we are just observing. If the war drags on, it will eventually have some impact or exert pressure on us,” he reiterated.
In response to the question, "Is there currently any problem in our trade sector?" he replied, “No, no — for now, there will be no impact on trade.”
When asked whether the government is taking any special preparations, he said, “In terms of preparation, the LNG and fertiliser import proposals we approved today were based on earlier prices. In the future, new imports might be affected.”
On whether the government is considering alternatives if the war prolongs, the adviser said, “Of course, the Ministry of Energy is working on alternatives. Since we rely heavily on LNG, we have to be cautious. The war could impact not only fuel but also fertilizers and shipping. The Strait of Hormuz, a key shipping route, could be affected. But I believe the war won’t last long.”
Regarding rising global fuel prices, he added, “Yes, prices have gone up in many countries, but we are not making any decision yet. We will continue to wait and observe.”
