People`s money is looted away but people suffer hardship

JUST after seven months, the government is once again going to increase the price of natural gas for household and motor vehicle users as the gas distribution companies sent proposals to the Bangladesh Energy Regulatory Commission to raise the gas price to recover the deficit created by the high price at which Petrobangla buys gas from the international oil companies, reports a news media on Friday. This recurring gas price hike is nothing but a mockery with the consumers and obviously it will affect the livelihoods of the common people.Experts said that the gas utility companies are presently being provided with 2,700 million cubic feet per day (mmcfd) gas – up by a few hundred mmcfd last year mainly because Chevron added 300 mmcfd new gases from the gigantic Bibiyana Gas Field. The government buys this gas under a production sharing contract (PSC) where a good part of the gas is totally free for the government, while for the rest the government pays Chevron around $3 per mmcfd. But even with gas procured from the international oil company and rampant gas theft along the gas pipeline – Titas has been making profits every year. At this point, government’s likely initiative to raise gas price is not justified. No, rather it looks like the behaviour of a private monopoly company. But, what is the basis of the new price hike is not clear at all. Reports said this move aims at accommodating the expensive Liquefied Natural Gas, scheduled to be imported from 2017. What is important is that Liquefied Natural Gas is not affordable to nearly all consumers with low-incomes.Experts said that the government wants to raise gas tariffs to cover up its cost of inefficiency, corruption in the sectors and also to maximize profits. The hike will create pressure on the purchasing power of the people. But before raising the price, the government should ensure adequate supply of gas. It is of no doubt that this price hike of gas will sadden the people of the country. The government is going to take this decision as it is an easy way of collecting money from the people. As the price of oil in the world market is going down, at this moment, the likely initiative of the price hike of gas is not sensible. There is no serious concern to stop looting or getting the money back so stolen and kept abroad. So price of essential items like gas has to go up and the appeal not to raise the gas price again will mean nothing to the government. The people must suffer. Big projects have been undertaken at huge costs. The people must bear the burden of such costly ventures. The government cannot be careful under the influence of the bureaucrats.