IMF for market-based fuel oil prices

DHAKA, 04 November 2022, (TON): The visiting International Monetary Fund mission reiterated its call for introduction of market-based fuel oil prices and also sought to know of future financing mechanism to import liquefied natural gas.

The Washington-based multilateral lender also emphasised initiation of automatic fuel oil price adjustment formula at a meeting with the officials of the Bangladesh Petroleum Corporation.

Officials attending the meeting said “the IMF wanted an end to the fuel oil subsidy regime in the country that depended fully on import to meet its annual petroleum demand for about 5.5 million tonnes in recent years.”

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