No Fuel Oil Crisis, Panic Buying Is the Real Issue: Dr. Zahed Ur Rahman

The Prime Minister’s Information and Broadcasting Advisor, Dr. Zahed Ur Rahman, clarified on Tuesday that Bangladesh is not facing a fuel oil shortage. Instead, he attributed the current market strain to "panic buying" and an artificial spike in demand.

Speaking to reporters at the Secretariat, Dr. Rahman emphasized that the country’s storage and supply chains remain stable.

According to the Advisor, as of April 19, the national stockpile of diesel stands at 122,633 metric tons.

"There is no major crisis in storage or supply," Dr. Rahman stated. "Additional tankers are already en route. The issue stems from 'fear of demand'—a psychological tendency to over-purchase fuel based on rumors. This has led to some localized price hikes, which in turn fuels further panic."

Acknowledging the global economic volatility, Dr. Rahman noted that the government is working to minimize the impact on citizens.

The government aims to keep fare hikes at a minimum if fuel prices require adjustment. Product prices will be monitored and adjusted proportionally to any fuel cost changes to prevent market manipulation.

Addressing concerns regarding the government’s recent ৳73,000 crore bank loan, the Advisor assured that the situation is not critical.

"While government borrowing impacts the economy, we have not reached a 'red zone.' These loans are specifically directed toward public welfare projects and maintaining national stability," he explained.

Dr. Rahman also shared updates on two key administrative plans:

To clear sidewalks of hawkers without destroying their livelihoods, the government is considering establishing night markets in eight specific locations across the city.

Following the Prime Minister’s vision, there are plans to expand New Year celebrations regionally across the entire month of Baishakh, drawing inspiration from regional neighbors like Myanmar and Cambodia.