‘Traders behind LPG price manipulation’

Staff Reporter :

Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan on Tuesday said the recent abnormal surge in Liquefied Petroleum Gas (LPG) prices was driven by retail and wholesale traders.

Speaking to reporters after a meeting of the Advisers’ Council Committee on Government Purchase and Economic Affairs at the Secretariat, he said certain traders had created an artificial shortage in the market by exploiting the Bangladesh Energy Regulatory Commission’s (BERC) latest price adjustment.

The adviser said the government has instructed the authorities to launch mobile court operations nationwide, involving district administrations and law enforcement agencies, to address the situation.

“Many traders anticipated a price hike and, when BERC raised the price by around Tk 53, they attempted to take undue advantage of it.

We have directed the Cabinet Secretary to ensure that mobile courts are conducted in every district. The issue was also discussed at the law and order committee meeting yesterday,” he said.

Emphasising that there is no genuine basis for such an abnormal increase, he added that the price hike was the result of deliberate market manipulation.