No IMF link to fuel price hike

Finance and Planning Minister Amir Khasru Mahmud Chowdhury has stated that the increase in fuel prices has no connection with the International Monetary Fund (IMF).

He made the remarks on Sunday while responding to a question during a conversation with journalists at the Finance Ministry in the Secretariat.

Responding to a question on whether the fuel price hike was part of IMF conditions, the minister said it was not. He added that prices had been raised even before the IMF meeting.

Amir Khasru said many countries have adjusted fuel prices in response to rising global energy costs, while Bangladesh had tried to keep prices stable for a long time.

He further said fuel prices have risen globally. Bangladesh delayed adjusting prices in the interest of the public, which has, however, increased pressure on government funds.

The finance minister said various quarters had been urging the government to adjust fuel prices. He said questions were being raised over why prices were not being increased. He added that the fund was depleting and warned that without price adjustments, it would be difficult for the government to run the country.

Reiterating that the decision has no link with the IMF, Amir Khasru said, I am stating clearly that there is no connection between the fuel price hike and the IMF. He also claimed that compared to the international market, the increase in Bangladesh has been relatively lower.

The minister said fuel prices have doubled in many countries, whereas Bangladesh has increased prices only slightly. He added that the decision was taken to manage financial pressure and sustain the government’s ongoing development and social programs.