Bangladesh raises gas prices once again
January 18th, 2023 at 4:40 pm
Earlier, the government raised the gas prices in June 2022 by an average of 22.78 per cent in a bid to adjust government subsidies, which the international lenders suggested for readjusting from time to time.
Bangladesh raises gas prices once again

by Staff Correspondent, Dhaka;

The government has increased the prices of natural gas for all but domestic and car users in a bid to its energy price adjustment scheme ahead of the International Monetary Fund (IMF) meeting late in January as the lender is supposed to allocate a 4.5 billion credit for Bangladesh to support its reforms.

The government in a notice on Wednesday made public its decision that shows the prices of natural gas for the industrial, commercial and power producers have gone up to manifold.

The price hike will be effective from February 1, 2023.

According to the notification, the gas prices for industrial units for all sizes have been made flat of 30 taka per cubic meter despite the fact that the prices were staggered for different sizes of industries. Previously, the large industrial units had to pay 11.98 taka, medium units 11.78 taka and small industries 10.78 taka per cubic meter.

The price of gas for power plants has been raised by about 9 taka to 14 taka per cubic meter.

The prices of gas for household and transport sector consumption remain unchanged.

Gas prices for captive power plants have also been raised by 14 taka to 30 taka. The prices have been raised to 30.50 taka from 26.64 taka per unit for the hotels and restaurants.

The government raised the gas prices in June 2022 by an average of 22.78 per cent in a bid to adjust government subsidies, which the international lenders suggested to readjust from time to time.

Bangladesh applied for a credit facility last year to the IMF as the South Asian country has been hit hard by global inflation amid Russia’s war on Ukraine.

The lending agency has agreed on a provisional deal to provide Bangladesh with a support package worth of $4.5 billion, and the amount is likely to be get a final approval at an IMF meeting later this month.

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