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State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said the government will make a readjustment in the petroleum price in a day or two.
“The Bangladesh Petroleum Corporation (BPC) is analysing the impact of the duty cut on diesel import. Once it’s complete, the government will make the readjustment”, he told reporters on Monday.
The state minister, however, said it’s still unclear as how much downward price adjustment would be possible at this stage as the price of fuel is again increasing in the international market.
Also read: Import tax on diesel cut by 5 percent
The comments from the state minister came a day after the government cut the duty on diesel import by half to five per cent and abolished all advance taxes on its import.
The changes were notified through a gazette notification issued by the National Board of Revenue on Sunday.
The order came into effect immediately and will remain effective until the end of (December 31) this year.
Also read: Cabinet purchase body approves import of diesel, Jet fuel, LNG and fertilizer
The NBR notification added that light and high speed diesel oils will get the new facilities.