The Bangladesh government is keeping a close watch on the ongoing conflict between Iran and Israel but has no plans to increase fuel prices at this time, according to Finance Adviser Dr. Salehuddin Ahmed.
After a recent meeting of the Advisory Council Committee on Economic Affairs and the Public Purchase Committee at the Cabinet Division, Dr. Salehuddin told reporters, “We are observing the situation. If the fighting drags on, it may put pressure on us. But for now, we will wait.”
Responding to concerns about potential impacts on domestic fuel prices, he said, “There has already been a slight rise in prices internationally, but it hasn’t affected the orders we’ve already placed.”
He also noted that the government is monitoring gas and liquefied natural gas (LNG) prices. “If the LNG price goes up significantly, we will consider that in our planning. Fortunately, the LNG import proposal we approved today is at the old price. We’re lucky to be getting it at the earlier rate.”
Regarding trade, Dr. Salehuddin confirmed, “No, there is no impact on trade as of now.”
In terms of preparedness for possible future disruptions, he stated, “The LNG and fertilizer import proposals we approved today are at previous prices. Any new proposals in the future may face price effects.”
He added that the Energy Ministry is working on alternatives should the conflict prolong. “We heavily rely on LNG. The conflict could affect not only fuel but also fertilizer imports and maritime transport. Ships pass through the Strait of Hormuz, which could be impacted. But I don’t think the war will last long.”
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