Strict action warned over LPG overpricing

The LPG Operators Association of Bangladesh (LOAB) has warned that strict legal action will be taken against operators, distributors, dealers and retailers if they sell LPG above the price fixed by the Bangladesh Energy Regulatory Commission (BERC) or hoard the fuel illegally.

In a press release signed by LOAB President Mohammad Amirul Haque on Thursday (October 1), the association said LPG supply in the country is currently adequate and satisfactory.

The release said the supply and price situation of LPG were discussed at a meeting held at the Ministry of Power, Energy and Mineral Resources on September 28.

According to LOAB, 156,000 tonnes of LPG were imported in September and 158,000 tonnes in August, which it said were sufficient to meet demand. Therefore, there is no scope for creating an artificial shortage in the market, the association said.

It warned that selling LPG cylinders above the BERC-fixed price or storing them in violation of regulations would constitute a breach of existing laws and that action would be taken against those involved.

LOAB also said deputy commissioners had been instructed at an online meeting on September 30 to strengthen market monitoring.

The association said it would continue to cooperate with law enforcement agencies and relevant administrative authorities to protect consumer rights and maintain market stability.

-AH