Uninterrupted supply of fuel oil will continue: PM

Prime Minister Sheikh Hasina on Wednesday assured parliament of an uninterrupted supply of fuel oil in the country despite a global crisis for the most essential item.

"Meeting the demand for fuel oil is a continuous process. The import schedule of fuel oil considering the country's need for the six months [July-December] has been ensured. Our current stock is okay for the next 30-35 days. By this time, two vessels carrying fuel oil will reach the country, which means we will have uninterrupted fuel supply," the primer said in response to a question from lawmaker Shahidul Islam Bakul.

As of 16 August, the country had a reserve of 701,994 tonnes of fuel oil in total, while 620,148 tonnes were in refined form and 81,846 tonnes unrefined, she told parliament.

The country will receive some 325,000 tonnes of diesel, 50,000 tonnes of jet fuel and 50,000 tonnes of octane this August, and 300,000 tonnes of diesel, 20,000 tonnes of jet fuel, 50,000 tonnes of furnace oil and 25,000 tonnes of octane in the next month, Sheikh Hasina said.

Keeping the soaring demand of the Bangladesh Power Development Board in mind, a request has been made to the oil suppliers for an additional supply of 25,000 tonnes of furnace oil in August and 25,000 tonnes of furnace oil and 120,000 tonnes of diesel in September.

Besides, about 200,000 tonnes of crude oil will be imported in August and another 1 lakh tonnes in September for Eastern Refinery Limited, she added. "Moreover, domestic sources will continue their fuel oil supplies."

In response to a question from Jatiya Party-backed lawmaker Syed Abu Hossain Babla, Prime Minister Sheikh Hasina said, "The country has enough electricity production capacity against the demand. From this point of view, there is no power shortage in the country. However, Bangladesh is trying to cope with the global energy crisis by economical use of electricity and organised load shedding."

The prime minister further added that the government is setting up new power plants for utilising renewable energy. Moreover, her government is taking various steps to keep the load shedding limited amid the global crisis for electricity generating-fuel oil.
"It will soon be possible to get rid of this temporary load shedding with the addition of the electricity generated by the new coal-based power plants to the national grid and the cost-effective use of electricity." 

Russia-Ukraine war may strain Bangladesh's balance of payments

In the parliamentary session, Prime Minister Sheikh Hasina also said the Covid-19 pandemic and the Russia-Ukraine war may have a negative impact on the country's balance of payments.

She also cited the weak growth of world economy, disruption of the supply chain, increase of cost of fuel oil, gas, food products, consumer goods, industrial raw materials and international freight cost in the global market, decline in exports, negative growth of remittances  as among the factors behind a possible negative impact on Bangladesh's balance of payment.

Sheikh Hasina, also the leader of the House, said her government has demonstrated remarkable success in keeping both the budget deficit and debt levels at sustainable and bearable levels for the past 14 years.

She said that it has been possible to keep the budget deficit within 5% of GDP despite various domestic and international economic problems including the pandemic. "At the end of 2021-22 fiscal year, debt and GDP ratio was 34%, which is well below the internationally recognised debt status threshold for Bangladesh."

In response to a question from Habibur Rahman, a member of Bogura-5 Constituency, the PM said that a total of 6,836 Bangladeshi peacekeepers are currently engaged in 8 peacekeeping missions under the United Nations, of which 521 are women.

A total of 161 Bangladeshi peacekeepers have been killed and 258 injured so far while discharging their duties in the mission, she said.