Saturday, January 9, 2016, Poush 26, 1422 BS, Rabiul Awal 27, 1437 Hijri

Now PDB to import fuel oil
Jannatul Ferdousy
Published :Saturday, 9 January, 2016,  Time : 12:00 AM  View Count : 95
After the private power producers now the sate-run companies want to import fuel oil from the global market due to its higher prices in the local market.
State-run Power Development Board (PDB) is now seeking to buy fuel oil for power generation from the international market instead of purchasing from the public fuel oil importer Bangladesh Petroleum Corporation (BPC).
Due to higher price of fuel oil in the local market, PDB and other consumer companies are thinking of buying petroleum products from the global market. The BPC has meanwhile stored a huge quantity of petroleum products.
A PDB official said, "Already the cost of power generation has increased due to use of oil in electricity production. It we import fuel oil from the world market the cost will come down to Tk 6.90 from Tk 13.81 per unit.
The BPC did not depreciate the price of fuel oil in the local market after it slumped by 50 per cent in the global market. At that time the government approved the private sector to import fuel oil.
The government plans to generate 7,254 million kilowatt hours of electricity from oil and in this connection the Power Division issued a letter to the Ministry seeking permission to import fuel oil from the international market.
A BPC official said the government is counting huge losses by permitting private sector to import fuel oil.
"Even now the government has no plan to reduce oil price in the local market as a resulted the problem will soon take a serious turn," he warned.

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