Friday, August 18, 2017 | ePaper

Oil price cut to after PM's approval, says Muhith

  • Print
bdnews24.com :
The government's plan to cut oil prices in Bangladesh to boost economic growth is awaiting final approval from Prime Minister Sheikh Hasina, Finance Minister AMA Muhith has said.
"The prime minister's response is expected shortly."
Muhith is currently in Washington to attend the spring meetings of the
International Monetary Fund and the World Bank. His comments came during a media briefing following his meeting with IMF Deputy Managing Director Mitsuhiro Furusawa at the organisation's headquarters on Thursday.
The low prices of oil on the world market had previously prompted the finance minister to promise cuts in domestic prices, but they did not come to pass.
"I have told IMF officials that we wish to continue our subsidies on electricity and fuel," said Muhith.
"At the moment we wish to decrease the cost of oil a bit. We have informed the prime minister of our proposal. The price will be decreased once we have her approval."
"Out economists wish to cut the price of oil to boost the economy," said the finance minister. "I agree with them. This is why we have sought the prime minister's permission," he said.
Muhith said he also discussed Bangladesh's upcoming VAT plans with the IMF. "The IMF officials wished to know how we planned to implement the new VAT.

More News For this Category

Thousands of people thronged the Gabtali bus terminal counter to buy Eid-ul-Azha advance tickets started to sale yesterday.

Thousands of people thronged the Gabtali bus terminal counter to buy Eid-ul-Azha advance tickets started to sale yesterday.

.

Flood victims to be rehabilitated, says Quader

UNB, Dinajpur :Awami League General Secretary Obaidul Quader on Friday said the government will take steps for rehabilitation of the flood-affected people."The Prime Minister will visit the flood-hit areas

60 people killed in Congo landslide

Al Jazeera News :At least 60 people have been killed after a landslide swept through a fishing village on the banks of Lake Albert in the northeastern Democratic Republic

Sales of advance train tickets for Eid begin

UNB, Dhaka :The Bangladesh Railway started selling advance tickets for the Eid holidaymakers on Friday.Long queues of holidaymakers were seen at the Kamalapur railway station as ticket sale began

16 m hit by floods in Nepal, India, BD: IFRC

IANS/bdnews24.com :A humanitarian crisis is unfolding across large areas in South Asia, with more than 16 million people affected by floods in Nepal, Bangladesh and India, the International Federation

S Leone death toll in floods now 400: RC

AFP :More than 400 people have died in mudslides and flooding in Sierra Leone with 600 people still missing in the stricken capital, the Red Cross said Friday, as

Canada sees 'unsustainable' spike in asylum seekers at US border

Toronto/Montreal (Reuters)  :The number of asylum seekers who illegally crossed the U.S. border into Canada more than tripled last month, according to Canadian government data released on Thursday, as

Mayor Annisul improving

UNB, Dhaka :The condition of Dhaka North City Corporation (DNCC) Mayor Annisul Huq, who is now in a London hospital ICU, is gradually improving."Annisul is still in ICU and

Nothing being done for flood victims: BNP

UNB, Dhaka :BNP on Friday alleged that though the country has been affected by extensive flood, the government is only putting in its all-out efforts to secure its 'illegal

Son seeks father's arrest for mother's murder in city

bdnews24.com :A 14-year-old boy in Dhaka has held a media briefing to accuse his father of murdering his mother.Parvez Mosharraf, a student of ninth grade, appeared before reporters at