State Minister for Energy Anindya Islam Amit has said the government was forced to raise fuel prices because of the ongoing crisis in the Middle East.
He made the remarks while speaking to journalists on Monday (September 21).
Anindya Islam Amit said the government had been incurring losses of Tk13 crore every month on fuel.
He said the government had to provide a subsidy of Tk90 per litre on diesel, which amounted to a significant annual burden.
According to the state minister, the government would have had to spend Tk40,000 crore annually just to subsidise diesel.
Including all fuel sectors, the total loss would have reached Tk50,000 crore, he said.
“Therefore, the government was forced to take this step,” Anindya Islam Amit said, referring to the decision to increase fuel prices.
