Prime Minister Tarique Rahman has clarified that there are no plans to increase fuel prices, and those attempting to hoard supplies—including petrol pump owners—will not benefit, stated Zahed Ur Rahman, Adviser to the Prime Minister (Policy & Strategy; Ministry of Information & Broadcasting and Ministry of Cultural Affairs).
The Adviser made these remarks on Wednesday (March 25) during a press conference organized by the Ministry of Information and Broadcasting at the Secretariat, marking one month of the current government’s tenure. Information and Broadcasting Minister Zahir Uddin Swapon, Minister of State Yasir Khan Chowdhury, and Secretary Mahbuba Farzana were also in attendance.
Global Crisis and Inflation Concerns
"It is a misfortune for us and the nation that we have encountered a global crisis in such a short period," the Adviser noted. He pointed out that even wealthy nations are struggling, citing reports that U.S. President Trump is considering withdrawing from conflicts due to concerns over high inflation ahead of the mid-term elections. "We are essentially caught in that same crisis," he added.
Adviser Zahed Ur Rahman urged citizens to avoid "panic buying" and hoarding. "We believe some at the pump level are attempting to store fuel. The government is looking into these matters. I want to tell pump owners: if you are hoarding in anticipation of a price hike, be aware that the Prime Minister has clearly stated prices are not rising. Therefore, this hoarding will not be beneficial for you."
Addressing Rationing and Supply Chains
Responding to questions regarding potential coordination gaps within the government, the Adviser compared fuel management to the banking system. "If everyone goes to the bank on the same morning to withdraw all their money, the bank will collapse. Banking relies on the fact that not everyone withdraws at once. Similarly, the government maintains a supply chain based on daily requirements."
He attributed recent shortages to panic buying driven by global instability. "We are following war news and people fear things might get worse. It’s not just about filling tanks; people are trying to stockpile beyond that. Supplies that were expected to last several days before Eid were exhausted in hours due to this fear and lack of awareness."
Government Strategy on Subsidies
The Adviser highlighted that the government chose not to pass rising international costs onto consumers to prevent further inflation.
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"We are currently purchasing oil at much higher prices. The new supplies will be even more expensive. However, because our economy has faced a long-term crisis and people's purchasing power is limited, we have not increased prices domestically, as that would trigger massive inflation."
Regarding gas supplies, he mentioned that the government is sourcing from the spot market. While there is a possibility that the long-term contract with Qatar may not fulfill all requirements, the government is actively working to manage the situation.
"A crisis may impact us due to global factors. We want to be transparent with the public. We do not believe there is a significant lack of coordination, but we will identify and fix any gaps to ensure the public receives genuine information."
