Bangladesh Petroleum Corporation (BPC) fears incurring a loss of about Tk 80 billion in the upcoming fiscal year because of selling fuel oil at lower rate than import price, officials said.
To cope with its financial loss, the BPC has recently requested the government to set aside a budgetary allocation as subsidy for the corporation, they added.
However, the BPC has suggested the government not to raise the petroleum prices in the domestic market immediately.
But it opined that if the petroleum prices can be re-fixed on monthly or daily basis like neighboring countries, such a big loss can be avoided.
The BPC in a letter to the energy division, which later was forwarded to the ministry of finance, said the petroleum prices were last reduced in the domestic market in April 2016.