Govt to consider cutting fuel prices, hopes Kamal

Finance Minister AHM Mustafa Kamal on Wednesday said he was optimistic the government would consider lowering fuel prices following the global market’s downward trend.

“Fuel prices are slipping in the global market and I believe the government will consider it (lowering prices) but the ministry concerned can provide details in this regard,” he said.

On the other hand, the government has expanded export target from $60 billion to $80 billion, he told reporters after a meeting of the Cabinet Committee on Public Purchase.

The Cabinet Committee on Economic Affairs approved the draft of “Export Policy 2021-2024”, setting the $80 billion export target for FY2024. The approval came from this year’s maiden meeting of the CCEA held virtually.

Kamal said exporters will get uniformed facilities under the export policy.

A number of potential goods and services were included in the priority-based sectors in the new export policy, he said, adding that “detailed schemes were fetched in order to expand export business adopting with the fourth industrial revolution.”

Besides, the policy also focused on easy trade, increasing the number of female and small entrepreneurs, ICT and freelancing.

The new policy recommended following sector-based ‘Compliance and Standard’, diversification of goods and services and stressed intermediate and recycled good production, the minister said, adding that overall branding of ‘Made in Bangladesh’ has been focused.

Responding to a question regarding a 5-year delay in appointing contractors for high-tech parks in eight districts, Kamal said numerous reasons caused the delay, and the decision was taken considering the overall situation.

“Currently the famous company LARSEN & TOUBRO Limited will operate the project, I hope now it will progress properly,” he added.

Responding to another question, Kamal said despite fluctuation in the market dollar rate won’t increase significantly. “I admit that we have some differences as prices of goods hike when we buy from foreign countries due to inflation.”

On the other hand, the government also approved the purchase of 90,000 tonnes of diesel from Indian company Numaligarh Refinery Limited while each ton will cost Tk 56,942.