Business owners across the country have announced that the sale of Liquefied Petroleum Gas (LPG) will be halted on Thursday and Friday.
Energy Minister Iqbal Hassan Mahmud has stated that if attempts are made to create market instability through this programme, the government will take legal action.
The minister said that repeatedly attempting to raise prices by disrupting supply is unacceptable. The issues must be resolved through discussion with the business owners.
He made these comments at an impromptu press conference following a meeting with LPG operators at the Secretariat today, Thursday.
The minister mentioned that a global crisis in the energy sector has created challenges in importing and supplying LPG. Despite uncertainties around global market fluctuations and import sources, the government is trying to provide LPG to consumers at reasonable prices.
The Energy Minister stated that, due to the war situation, there is instability in the global energy sector. Private importers in Bangladesh are also having to seek alternative sources. Long-term strategies have been discussed with operators to avoid supply shortages and ensure adequate LPG supply for the upcoming year.
To stabilise supply and prices, the Bangladesh Energy Regulatory Commission (BERC) has been instructed to take necessary actions, the minister said, adding that discussions are ongoing to resolve the issues faced by the business owners. Another discussion with the relevant parties will be held on 30 October.
In order to prevent the creation of artificial shortages at the dealer level, the Directorate of National Consumer Rights Protection and the district administration have been activated, the minister noted. The government will take necessary measures to keep the market situation normal.
In response to the higher LPG prices in Bangladesh compared to neighboring India, the Energy Minister mentioned that the Indian government reduces LPG prices through subsidies. Beneficiaries under specific programmes receive LPG at reduced prices there. However, such subsidies do not exist in Bangladesh, and private importers sell LPG in the open market, which affects local prices according to international market rates.
At the same conference, Commerce Minister Khandaker Abdul Muktadir stated that the government is in talks with business owners to maintain stable LPG supply and market conditions. However, creating market instability through strikes to impose demands will not be tolerated.
The Commerce Minister said that private companies import LPG. The government does not directly import LPG. Nonetheless, the BERC sets the LPG prices each month in alignment with the international market.
The Commerce Minister remarked that commercial disputes, including profits, losses, and commissions, can be resolved through discussion.
He also pointed out that the relevant authorities are prepared to listen to the business owners and solve legitimate issues. However, if anyone attempts to misuse the market system for personal gain or create situations adverse to public interest, the government will not accept it.
The LPG Business Association Cooperative Society Limited has announced a countrywide closure of LPG shops on 15 and 16 October, demanding to stop the harassment of business owners, among other issues.
The association's president, Mohammad Selim Khan, announced this decision at a press conference at the National Press Club last Monday.
He mentioned that if demands are not met, a more stringent programme may be declared following the two-day initiative.
In this situation, the government held a meeting with LPG operators today. The meeting discussed strategies for maintaining stable LPG supply now and for the upcoming year.