Typically, the price tariff is set at a price lower than the purchase price, thus, reducing the expense of the BPC. However, if the National Board of Revenue (NBR) wants to impose import duty on procurement prices, BPC’s expenditure on fuel oil will increase. Since the government has not yet finalized the matter, BPC has prepared a price adjustment formula based on the price tariff.
M Tamim, special assistant to the former caretaker government chief adviser on energy, told Prothom Alo that the government can no longer raise revenue from taxes, therefore, they do not want to move away from the source from where they get revenue. Local prices were revised down during high global prices, and BPC has been quietly making profits since then. Furthermore, there is a lack of transparency in the BPC’s income and expenditure.
This energy expert advised to organize a public hearing by Bangladesh Energy Regulatory Commission (BERC) for the revision of fuel oil prices.
*This report appeared in the print and online editions of Prothom Alo and has been rewritten in English by Hasnul Banna
