Fuel price hike has nothing to do with IMF deal: Khasru

Finance and Planning Minister Amir Khasru Mahmud Chowdhury has said the recent increase in fuel prices has no connection with the International Monetary Fund (IMF), stating that the adjustment was made due to mounting pressure on the government treasury.

“The rise in oil prices has no relation with the IMF. Prices were increased because of pressure on the state fund,” he said.

The minister made the remarks on Sunday during a briefing at his office at the Secretariat on the outcome of the Spring Meetings of the World Bank and the IMF.

He said the fuel price increase may or may not lead to higher inflation, adding that the government is closely monitoring the situation.

Khasru also said the government would not accept any loan from the IMF or the World Bank if it goes against public interest.

He noted that Bangladesh has yet to reach consensus with the IMF on several conditions tied to its loan programme.

According to the minister, it may take another 15 to 30 days to resolve the pending issues. He added that if no agreement is reached on the conditions, the government will make a final decision on the loan.

“Under no circumstances will we do anything against the interests of the people,” he said.

Speaking on social safety programmes, the minister said the government always prioritises public welfare and social protection.

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He added that the family card programme has also received high praise from donor agencies.

Regarding fuel prices, the minister said Bangladesh had not raised prices excessively compared to many other countries. As an example, he said fuel prices in the United States had doubled.