Dhaka: Despite the declining price of oil in the international market, the government is yet to decide on whether to cut the price of fuel oil in the domestic market, says Finance Minister AMA Muhith.

‘We talked to the Ministry of Energy…we are not going to cut fuel price right now,’ he told a discussion at Sonargaon Hotel in the capital on Thursday.

Bangladesh Chamber of Industries organised the discussion on ‘Prospects and Challenges of Investment in Industries’.

Speaking as the chief guest, the Finance Minister said the fuel price may further decline in international market and if it stabilizes at a certain level, then its price may be cut domestically.

Energy Adviser to the Prime Minister Tawfiq-e-Elahi Chowdhury said the government does not want to re-fix the fuel oil price again and again, but rather wants to keep its price sustainable.

He too said if the oil price declines and stabilises in international market, the government will consider cutting fuel oil price.

About industrial power demand, Muhith said the government will ensure uninterrupted power supply to the country’s industries within the next two years. Wherever industrial parks are set up, power supply must be ensured, he added.

To check industrial pollution, he said, the government will take a policy to set up central effluent treatment plant (ETP) in all industrial areas. ‘The government will set up ETP in industrial areas and you (industrialists) must pay a charge to use it.’

Recalling the importance of jute, the Finance Minister said jute products still have export value, so the government should never ban the jute products. ‘We should always remain alert (to its potential).’  

Tawfiq-e-Elahi said the government will set up some 10 wells to explore oil and gas all over the country and it is expected that gas would be supplied to all factories and industries within the next two years.

Uninterrupted power would be supplied to all cluster industries, he added.

Mayor of Dhaka North City Corporation (DNCC) Annisul Huq and president of Bangladesh Chamber of Industries AK Azad, among others, spoke at the discussion.