Fuel, Electricity Hike Unlikely to Affect Market

Prime Minister’s Information Adviser Dr Zahed Ur Rahman on Saturday said the recent increase in electricity and fuel prices is unlikely to have a significant impact on the market.

“We do not think this will create a major impact on the market,” he said at an emergency press briefing on energy and power held at the Press Information Department (PID) conference room in the Secretariat.

Information and Broadcasting Minister Zahir Uddin Swapon was also present at the briefing.

Responding to a question about the timing of the price hike ahead of the budget session, the adviser said such adjustments in fuel and electricity prices are sometimes unavoidable.

He noted that prices of essentials, particularly vegetables and fresh produce, often rise around the budget period, although current market trends show relative stability compared to earlier periods.

“There is a trend, and we are now seeing signs of reversal,” he said, adding that the government is also under pressure due to rising subsidy costs.

He said higher subsidy spending limits the government’s ability to invest in development projects, healthcare, education, and social safety programmes.

Referring to ongoing initiatives such as farmer cards and family cards, the adviser said the government must ensure adequate funding for social protection programmes.

While acknowledging that price increases are undesirable, he said the Ministry of Commerce will remain vigilant to prevent unjustified price hikes.

He added that the impact of the recent adjustments would be limited as vulnerable groups are being protected.

“We have not increased electricity or fuel prices for vulnerable people, and many of them will continue to receive government support and allowances,” he said.

He also said a significant number of low-income families would benefit from family card programmes in the upcoming budget, along with continued support through social safety net initiatives such as TCB schemes.

The government, he added, will continue taking action against any unjustified price hikes in the market.