Bangladesh Petroleum Corporation (BPC) is likely to charge eight percent interest on the outstanding fuel bills stuck at the railway agency.
The state-owned lone petroleum organization is planning to impose the penalty to realize its fuel bills and eliminate the tendency to not pay bills before they become due, said a source at the BPC.
As per the sales and purchase agreement, the railway agency is supposed to pay fuel bills within 15 days of delivery.
However, it has failed to pay the bill as per the contract. Sometimes, bills are not paid even for a year.
Therefore, the three fuel distribution companies under the BPC demanded to amend the sales and purchase contract with the railway by adding a provision to charge interest on the dues.
