The visiting team of the International Monetary Fund (IMF) on Thursday suggested the authorities concerned adjust the prices of fuel oils and reduce energy subsidies to cut government spending on this sector, sources said.
It put forward the same recommendations in two separate meetings with Energy Division Secretary Mahbub Hossain and Bangladesh Petroleum Corporation (BPC) Chairman A B M Azad.
However, the high officials of the government informed the IMF team that the prices of fuel oils were adjusted thrice in the last one year.
Following the government's request for budgetary support, the IMF team is now visiting Bangladesh to scrutinise the country's macroeconomic, financial and monetary situation. The mission began on October 26 last and will continue until November 9.
A senior energy division official said the IMF team sought to know the overall situation of the country's energy sector including energy use, gas exploration, import of liquefied natural gas (LNG), and the extent of subsidy provided to the sector.
At the meeting with the BPC officials, sources said, the IMF delegation members expressed their willingness to know if the prices of fuel oils can be fixed based on the global market price.
However, the BPC officials said further upward adjustment of fuel oil prices would not be possible now.
Sources said the IMF team also had a meeting with the Petrobangla officials on the day where the gas supply situation and measures for gas exploration were discussed, among others.
