There is no fuel shortage in Bangladesh, and the government has more preparations and reserves than potential demand, Energy and Mineral Resources Minister told Parliament on Monday.
In a statement under Rule 300 during the National Parliament session, the minister assured the nation that fuel oil supply has actually been increased compared to last year.
Tuku said an artificial pressure is being created in the market mainly because people are panicking unnecessarily and purchasing and hoarding excess fuel.
“The economy, stability, daily life, and production system are integrally linked to the energy sector,” he said, adding that he felt it was important to present the status of Bangladesh’s gas and fuel oil reserves before the nation amid global instability.
Noting that global fuel supply is under pressure due to international conflict and tensions in the Middle East, the minister said the government has taken proper and timely preparations under the directives and supervision of Prime Minister Tarique Rahman.
Citing statistics, Tuku said on the day the current government took office back in mid-February, the reserve of diesel, the most widely used fuel, was 2,06,000 metric tonnes. On Monday, the reserve stood at 2,18,000 metric tonnes, adding that in these 41 days, 4,82,000 metric tonnes of diesel have been sold.
“The fact that reserves have increased despite massive supply proves that the government has maintained a robust supply system through advance preparations and continuous imports,” he said.
The minister said reserves of diesel, octane, and petrol are being further increased to keep travel, transport, agriculture, and industrial production running during Eid-ul-Fitr.
He informed Parliament that last March, daily demand for diesel was 12,000 metric tonnes, octane 1,200, and petrol 1,400 metric tonnes. However, from 1 to 29 March this year, octane sales reached 28,939 metric tonnes, with a daily average of 1,258 metric tonnes.
Citing the example of a well-known petrol pump in Tejgaon, he said octane sales there have increased by approximately 96 percent compared to last year.
Noting that 65 percent of total fuel consumed is diesel, whose supply is normal, Tuku said long lines at filling stations for octane and petrol do not reflect the true picture of fuel management.
“This crisis has been artificially created due to the tendency to stockpile beyond necessity,” he said.
To overcome the situation, 3,168 operations have already been conducted, resulting in 153 cases, fines of Tk75 lakh, and imprisonment for 16 individuals. A large quantity of fuel has also been recovered, the minister added.
The energy minister also highlighted the government’s massive subsidies in the energy sector, saying that Tk16,045 crore will be needed for diesel and octane and Tk15,077 crore for LNG imports in the March-June quarter.
He sought the nation’s cooperation, urging people to be restrained in electricity use.
“Let us unite – not for individuals, but for the country; not waste, but savings; not division, but unity. Bangladesh first,” Tuku said.
