Dhaka, Apr 25 (V7N)— Road Transport, Railways, and Shipping Minister Sheikh Rabiul Alam clarified on Saturday that the recent hike in fuel prices was a strategic government decision rather than a result of pressure from the International Monetary Fund (IMF). Speaking at the inauguration of the annual sports competition of the Bangladesh Inland Water Transport Authority (BIWTA) in Mohammadpur, the Minister explained that the government exhausted all other alternatives before opting for the price adjustment. He emphasized that the primary drivers behind this move were the need to mitigate the heavy burden of state subsidies and to curb the illegal smuggling of fuel across borders.

Addressing public concerns regarding transportation costs, the Minister confirmed that bus fares have already been recalibrated in direct coordination with the new oil prices. He offered an assurance to commuters that this coordination is a two-way process; should global oil prices decrease in the future, transport fares will be reduced automatically following the established regulatory framework, without the need for further negotiations. This systematic approach is intended to maintain transparency and fairness for both transport operators and the general public.

The Minister further clarified the scope of the fare hikes, noting that the adjustments are strictly proportional to the type of fuel used. He pointed out that because there has been no increase in the price of compressed natural gas (CNG), the fares for gas-powered vehicles will remain unchanged. Authorities will continue to monitor the implementation of these new rates to ensure that transport providers do not overcharge passengers beyond the officially sanctioned limits.

END/SMA/AJ