No fuel price hike now: Finance Adviser

Finance Adviser Dr Salehuddin Ahmed has said that no fuel price hike now but the Iran-Israel war continues for a long time, there might be an impact.

The adviser made the remark while responding to questions from journalists at the Secretariat following meetings of the Advisory Council Committee on Economic Affairs and the Advisory Council Committee on Government Procurement on Tuesday.

“We are observing the Iran-Israel war. Prices have already risen somewhat, but it has not affected the shipments we have ordered. If the war continues for a long time, then there might be an impact or pressure on us,” he said. 

Responding to concerns about possible disruptions in oil supply and price hikes due to tensions in the Strait of Hormuz - a key global shipping route - Salehuddin said that the government is taking precautionary measures.

“If gas or LNG prices increase (in the international markets), we will take that into consideration. The LNG import we approved today was in line with the old rate. We are lucky to be getting it at the previous price,” he added.

About the possibility of alternative measures for fuel, he said certainly, the Ministry of Energy is considering alternatives.