Furnace oil is residue of crude oil; it’s nearly semi solid or viscous oil. Many industry uses furnace oil as fuel. The state owned agency Bangladesh Petroleum Corporation imports all fuel oils including furnace oil. They sell furnace oil in the local market with 12 to 13 taka subsidy in a bid to help local industry.
But this subsidized furnace oil is luring the smugglers. Yesterday the rapid action Battalion (RAB) seized about 3 lakh liters of furnace oil in Chittagong. RAB also arrested 23 people for their alleged connection in smuggling. According to the RAB officials the price of the seized furnace oil is about two crore taka.