No fuel price hike now: Salehuddin

Finance Adviser Dr Salehuddin Ahmed today said the government has no immediate plans to raise fuel prices. "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. The adviser made the remarks while responding to questions from

Finance Adviser Dr Salehuddin Ahmed today said the government has no immediate plans to raise fuel prices.

"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.

The adviser made the remarks 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.

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.

Asked whether the conflict could impact trade, the adviser replied, "No, for now, there will be no impact on trade."

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

"We rely heavily on LNG. The war could affect not only fuel but also fertiliser and shipping. Ships pass through the Strait of Hormuz, and there might be an impact there. But I think the war will not last long," he added.

In response to another question about rising fuel prices in many countries, the adviser said, "We are still not mulling the issue. We will wait further."