Bangladesh raises fuel oil prices as much as 51.68%

[VikingRaider]

Its IMF deal. Next is Taka depreciation and so on.

Taka is already 112 to per usd in open market!

Govt is selling at 94.73 taka now officially! But if people will get 112 taka per usd , why they will send dollars via bank?

Speically when fuel cost became so high overnight and we are getting suggestion of using bicycle in this hot and humid Bangladeshi weather?

Rather they will use hundi and govt won't get remittance!

What a pathetic way to loss remittance that we need it right now!

But it looks like our govt are so brilliant that they can't calculate anything!

 

[Indos]

Its IMF deal. Next is Taka depreciation and so on.

I dont think IMF ever suggest any country to depreciate their currency, what happen with Pakistan currency depreciation is due to market pressure, the same thing also happen in many countries as well due to high energy and commodity prices + Federal Reserve (The Fed) tightening policy. Indian Rupee, for example, has depreciated around 7 % this year despite big intervention from Indian central bank in open market.

But IMF could suggest Taka to be floated instead of being pegged to release pressure and it of course could lead to more depreciation of Taka in this global situation.

 

[hydrabadi_arab]

Taka is already 112 to per usd in open market!

Govt is selling at 94.73 taka now officially! But if people will get 112 taka per usd , why they will send dollars via bank?

Speically when fuel cost became so high overnight and we are getting suggestion of using bicycle in this hot and humid Bangladeshi weather?

Rather they will use hundi and govt won't get remittance!

What a pathetic way to loss remittance that we need it right now!

But it looks like our govt are so brilliant that they can't calculate anything!

Its stupid and short term move. Pakistan have suffered from same. Now our rupee is market based, BD need to move there quickly as they still have relatively large reserves. Pakistan only did it under IMF pressure when reserves were like $8b or less.

 

[Abu Shaleh Rumi]

জি বুঝেছি! কিন্তু কিভাবে আর কতদিনে এটাই জানতে চাচ্ছিলাম! ধন্যবাদ!

For eternity. No subsidy except food and agriculture.

Its IMF deal. Next is Taka depreciation and so on.

Right things to do for Bangladesh.

 

[VikingRaider]

Its stupid and short term move. Pakistan have suffered from same. Now our rupee is market based, BD need to move there quickly as they still have relatively large reserves. Pakistan only did it under IMF pressure when reserves were like $8b or less.

Westerns are really bastard Capitalists! They will suck blood of people , will left them for suffering and few people will grab all asset!

@jamahir , your opinion on this article is requested!

Regards - Atlas !

 

[Bilal9]

Riksha bhai Riksha. Goriber bondhu Riksha.....

Dhanmondi thaika Banani/Gulshan jaitey Rikshai eki time lagbey, ghontakhanek....

 

[jamahir]

Westerns are really bastard Capitalists! They will suck blood of people , will left them for suffering and few people will grab all asset!

@jamahir , your opinion on this article is requested!

Regards - Atlas !

Thank you for tagging me.

All Western people are not Capitalists. That is why I don't use "Western countries" but "Western governments". Let us recall the Occupy Wall Street movement that started in New York in 2011. Thousands of Western Americans wanted the end of the Capitalist terrorism by Wall Street that created an artificial-money based divide in society. Occupy's slogan was "We are the 99 percent" meaning the remainder one percent was the socio-economic rich class of USA which could obtain any service or product in the world while the 99 percent Americans were ( are ) given misery even to obtain basic human necessities like housing, healthcare and education.

Though American government said that Occupy was the revenge of Muammar Gaddafi ( whose country had been invaded by NATO+GCC+AQ+"M"B ) and was being sustained by the Russian and Chinese embassies Occupy was a movement by the progressive, oppressed and aware Americans. Very soon it spread to other countries in the Western Bloc and other places where Communists or Socialists were not in governance or where like in Brazil not-fully-Socialists were in governance. This was the first revolutionary action in the Western Bloc after decades. Unfortunately, here in India, in Bombay where exists the Bombay Stock Exchange which is one of the oldest stock exchanges in the world, while those few months that Occupy occupied many people in much of the Western Bloc, India through its establishment also being in the Western Bloc since 1950, never saw a minute when the Bombay Stock Exchange saw its doors closed. That is India for you. The irrational and Capitalism-propagating middle class didn't get onto the streets in demanding end to the stock markets and to the Capitalists who lived happily while many from the ranks of the middle classes themselves die and suffer every day in various forms.

Below is a famous scene from Occupy Wall Street :

So these are Westerners who also agitate against Capitalism and other forms of injustice.

 

[Realtalk108]

জি বুঝেছি! কিন্তু কিভাবে আর কতদিনে এটাই জানতে চাচ্ছিলাম! ধন্যবাদ!

Forever. Fuel prices, once up, never come down. May be they will reduce a nominal 4-5% once the war ends. That's all.

Economic activities will need to adjust.

 

[Rushd Alam]

To my knowledge we do not import fuels like octane and petrol as we produce it from our gas condensate. I am quoiting enery ministers recent interview, when he answered the rumours of we have 10-15 days of octane petrol reserve. He did mention fernes oil and diesel we import. So my question is, raising prices of octane, petrol was previously done to adjust the losses of diesel and other oils, but rasing it all together is a decision I did not understand.

It maybe government wants to raise their revenue or other reaaon maybe IMF loan pre condition as it is well known.

My concern here is the impact this will have on the general public, mainy the poor, as BD has inflation of 7%+ already as per GOB.

I may sound like a broken record here but will say any way, If S Hasina do not go aggrassive on energy exploration from today, tomorrow the same economic prosperity he built his government on will collasp.

I know a lot of bd members here thing we should diversify our energy production fuel from gas to diesel/ nuclear. But they this is not what we produce. It is like asking saudies to put solar.
If we have only gas and coal our energy mix should be that two fuel. We can invest on nuclear as this brings new know how and get expertise on this that we may in the future use in other things.

I saw today government is getting china dig exploration well in horipur, and intotal 17 other wells in other areas to increase production. I welcome this decision, would have been in a far better situation if this was done 3 -4 yesrs ago. But better late than never.

S Hasina is at a critical point and she has to make the right decisions now to stay in power for another decade. The energy crisis is only going to go worse next year unless something thing drastically changes.

BD is at a point that it cant put hold on its growth due to fuel shortage. We are on a race and cant afford to take a rest for crisis we should not be in being energy rich. We will not be able to compete with others with expensive imported energy.

 

[Bilal9]

I dont think IMF ever suggest any country to depreciate their currency, what happen with Pakistan currency depreciation is due to market pressure, the same thing also happen in many countries as well due to high energy and commodity prices + Federal Reserve (The Fed) tightening policy. Indian Rupee, for example, has depreciated around 7 % this year despite big intervention from Indian central bank in open market.

But IMF could suggest Taka to be floated instead of being pegged to release pressure and it of course could lead to more depreciation of Taka in this global situation.

Let pegging continue. We can't take the risk. Imports of raw material for apparel will become far dearer, affecting profit.

 

[Bilal9]

Forever. Fuel prices, once up, never come down. May be they will reduce a nominal 4-5% once the war ends. That's all.

Economic activities will need to adjust.

Maybe in India, rest of the world is different.

Gallon (4 litres) of Premium unleaded gas (petrol) was selling at $8 only two months ago. Now it is down to $5.50 a gallon.

LA County Average Gas Price Falls for 40th Straight Day

The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Sunday for the 40th consecutive day since rising to a record.

www.nbclosangeles.com

 

[Bhoot Pishach]

Maybe in India, rest of the world is different.

Gallon (4 litres) of Premium unleaded gas (petrol) was selling at $8 only two months ago. Now it is down to $5.50 a gallon.

LA County Average Gas Price Falls for 40th Straight Day

The average price of a gallon of self-serve regular gasoline in Los Angeles County decreased Sunday for the 40th consecutive day since rising to a record.

www.nbclosangeles.com

Still costly in comparision to INDIAN Petrol Prices.

1$~ Rs 80

1 Gallon = 3.78541 Ltrs

Petrol Price in India about ~ Rs 110 per liter.

US Petrol in Indian Rupees :
$5.5 x 80 = Rs 440

Petrol Price for 1 Gallon in India in Rupees Terms:
3.78541 Ltrs x 110 = Rs 416.39

1 Gallon of Petrol is Costly by Rs 23.60 in USA compared to India.

 

[Bilal9]

Still costly in comparision to INDIAN Petrol Prices.

1$~ Rs 80

1 Gallon = 3.78541 Ltrs

Petrol Price in India about ~ Rs 110 per liter.

US Petrol in Indian Rupees :
$5.5 x 80 = Rs 440

Petrol Price for 1 Gallon in India in Rupees Terms:
3.78541 Ltrs x 110 = Rs 416.39

1 Gallon of Petrol is Costly by Rs 23.60 in USA compared to India.

What Octane are we talking about?? Petrol in USA comes in 3 common grades.

Don't be comparing Indian petrol with US petrol quality.

 

[UKBengali]

S Hasina is at a critical point and she has to make the right decisions now to stay in power for another decade. The energy crisis is only going to go worse next year unless something thing drastically changes.

It is going to get better this time next year.

1. 1.32 GW Rampal coal will start operations in September this year.

2. 1.2 GW Roopur reactor 1 will come online next year.


This is the difficult time for BD and things will start to get better next year.

 

[Catalystic]

WEF and its imf agents…..working to crash countries and economies

Don’t worry, its going to happen even in usa, or lets say all over the world. Muslim countries first…
Their agenda of NWO is accelerated considerably….coming winter is gonna be harsh. No use fleeing to anywhere cuz it’ll be everywhere the same shit.