Baku:The government has announced its intention to take firm action against any attempts to manipulate the liquefied petroleum gas (LPG) market or create an artificial shortage that could hold people hostage through strikes, stated Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood.
According to Bangladesh Sangbad Sangstha, Minister Mahmood emphasized the importance of LPG as an essential commodity and warned that legal action would be pursued against those who disrupt its supply. He made these remarks during a press conference following a meeting with LPG operators at the ministry's conference room.
He highlighted the significant challenges facing the global energy sector due to ongoing conflicts, which have led to uncertainties over fuel supplies and prices. In response, the government is engaging with stakeholders to ensure a stable LPG supply and maintain affordable prices in the domestic market.
The meeting addressed the direct role of the private sector in the LPG supply chain, underscoring the necessity of consultations with operators to resolve market issues. The government is reviewing LPG prices and supply conditions, with relevant authorities instructed to maintain price stability and address business concerns. Further discussions with stakeholders are scheduled for October 20.
Commerce Minister Abdul Muktadir, also present at the press conference, reiterated the involvement of private-sector companies in the LPG supply and marketing in Bangladesh. He noted that the government adjusts LPG prices monthly based on international market movements, following the pricing formula set by the Bangladesh Energy Regulatory Commission (BERC).
Muktadir warned against a potential dealers' strike, highlighting that specific laws, including the Essential Articles (Price Control and Anti-Hoarding) Act of 1956, would be enforced against any market disruptions. He stressed the critical role of LPG in daily life and acknowledged the challenges faced by businesses, suggesting that disputes over profit margins and commercial terms could be resolved through dialogue.
The meeting also covered discussions on LPG prices, supply conditions, business demands, and the impact of international market volatility.