Price hike unjust when global price is decreasing: Dr Tamim

"It is an unexpected and unjustified decision of the government to increase fuel price by 51.7 per cent when it is decreasing globally. Just three weeks back, we were procuring fuel
from the global market at a rate of US$170 per barrel then we were reluctant to buy but today the price is $135 per barrel, but we increased the price by 51.7 per cent, it is unexpected, unrealistic and unprecedented," former energy adviser Dr M Tamim said when asked to comment over the fuel price hike.
He said the government had said that there was no other option except raising the fuel price as Bangladesh Petroleum Corporation (BPC) lost  Tk 8,014.51 crore in the last few months. It is a fact but what the government did not say is that BPC has reportedly made profits of about Tk 50,000 crore from 2015 to 2018, where has the money gone? Why don't the government adjust the money right now? He questioned.
"This hike is unexpected and unjust as fuel is a strategic item, its impact is huge, it will increase the living cost of the people who are already facing serious hardship in their day to day life for last two years. It will increase the inflation rampantly, its impact would be seen in every sector�.we cannot control the cascading effects of the price hike in transport sector or any other sector, we cannot stop people's sufferings. We are going to make people's life even more miserable," he said.
"I urge the government to re-think the issue for the greater interest of the people, as our experience says we fail to control the impact of price hike on the other sector, even we never readjust the fuel price when it goes down, so my honest request to the government is to revise it as the global trend is saying that fuel price is going down," he added.
Dr Tamim said, "I never support subsidy. Our economy is traditionally depended on subsidy as it's a mixed economy but this price hike says  a different thing, it's a total capitalistic approach. ..okay if the government shifts its policy then she must take mandate from the public."