Bangladesh Petroleum Corporation (BPC) is now incurring a loss of Tk 63 crore per day as the state-run company sells its imported products at rates lower than import cost.
According to fuel marketing agency, it has to incur a loss of Tk 37 per litre in the sale of diesel, Tk 10 in octane, Tk 15 in furnace oil and Tk 7 in jet-fuel.
“We’ve really been facing a tough situation. Everyday we’re communicating the situation to the Energy and Mineral Resources Division”, ABM Azad, chairman of the BPC told UNB.
He, however, declined to give any indication on any possible increase of the petroleum price in the country to offset the loss.
He said BPC has been considering different options and sending those to the top policy making level.
“The government is the ultimate authority to make the final decision on any issue in regard to the petroleum fuel”, said the BPC chairman.
Responding to a question on any cut in taxes on the import of petroleum, Azad said, he did not make any such suggestion as it is beyond his capacity.
But he noted that in last two fiscal years, the BPC had to pay Tk 19,000 crore in VAT and taxes.
The BPC chairman’s remarks came amid the growing petroleum price hike on the international market due to the war between Russia and Ukraine.
The crude oil price already crossed $113 per barrel on Thursday which was below $100 before the start of the war.