Amid raging protests against skyrocketing fuel prices, the Bangladesh government has asserted that Dhaka won’t see a similar fate to the Sri Lankan crisis because the country has a substantial amount of foreign reserves.
Power, Energy and Mineral Resource Minister of Bangladesh, Nasrul Hamid, speaking exclusively to ANI ruled out the possibility of Bangladesh seeing massive public anger against the ruling dispensation.
“Bangladesh has a good foreign currency reserve, there is no such possibility,” Hamid said when asked if he thinks that Bangladesh is poised to face the same crisis as Sri Lanka.
The Minister further clarified that fuel is the lifeline of any country’s economy and we have sufficient reserves of petroleum products and a good supply chain in the country by December 2022.
“Petroleum oil is one of the most important elements of any society and country. We can treat this as the lifeline of the economy. Therefore, we are always careful about the energy security of the country. We have been maintaining a very good supply chain of petroleum products to ensure the energy security of the country. We have sufficient stock of refined and crude petroleum oil in our storage tanks and the import lineup has been finalized up to December 2022,” Hamid said.
Bangladesh increased fuel prices by over 50 per cent last week which was the highest increase since the country’s independence in 1971