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21 September, 2018 09:31:07 AM

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Pending SRO delays announcement of gas price hike

Staff Reporter
Pending SRO delays announcement of gas price hike

The tax waiver-related statutory regulatory order (SRO) was not issued till yesterday. This is delaying the gas price hike announcement. 

Sources told The Independent that the Bangladesh Energy Regulatory Commission (BERC) is ready to announce a hike of around 40 per cent in gas prices for industry, commercial, power plant and fertiliser factory customers.

“The main pre-condition of announcing the gas price is to get the SRO, which will be issued by the National Revenue Board (NBR). But it was not handed over by gas distribution companies yet,” said a BERC official.

The SRO is supposed to describe the waiver of taxes on liquefied natural gas (LNG) and local gas distributions that would amount to Tk. 5,600 crore.

Petrobangla and gas distribution companies claimed that if 500mmcf of the costly imported LNG is daily injected into the national grid, the government will lose more than Tk. 8,000 crore every year. “After having the SRO, we will verify the losses and adjust the the rest,“ said a BERC member.

A Petrobangla official said the finance minister approved the tax-wavier for the gas sector, but it now needs the law ministry's approval that has been pending since Wednesday.

“We believe the approval from the law ministry come by next Monday,” he added.

“So, the gas price hike announcement will come hopefully in the next week,” he said.

SI

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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