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Bangladesh Petroleum Company Applies For Price Increase To Stop Loss
Jul 20, 2018

Financial Express reported on July 12 that the state-owned Bangladesh Petroleum Company recently applied to the Energy and Mineral Resources Bureau of the Ministry of The Electricity Energy and Mineral for an increase in the price of oil sold to the power station to solve the serious losses caused by the inversion of domestic oil prices. The company imports oil at international market prices, and the domestic price is a government-restricted lower price. In the past few fiscal years, the company has earned tens of billions of taka, and the company's earnings fell to breakeven point in 2018. With the current daily loss of about 220 million taka, Bangladesh Petroleum Company is applying for financial subsidies from the government.

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