LPG Operators Association of Bangladesh (LOAB) has said the country's LPG industry is facing destruction due to Bangladesh Energy Regulatory Commission's (BERC) one-sided price order.
The association made the statement on Tuesday (June 15) at a press conference in the capital's Intercontinental Hotel.
LOAB president Azam J Chowdhury said the government should offer a realistic price if it wants the LPG sector to continue.
He said: "A total of Tk 30,000 crore has been invested in the current LPG sector, which is about 6 per cent of the GDP. I have not seen any industry in Bangladesh which can be 6/7 percent of GDP in five years. Through the LPG industry, every year we are saving 50,000 cubic meters of gas, which is being used in the productive sectors like fertilizer, power and other manufacturing sectors. The growth of the LPG sector helps develop other industries in any country."
On 12 April, BERC for the first time fixed the retail price of LPG provided by both public and private operators.
After the order, many dealers and distributors across the country stopped retailing LPG cylinders, Azam J Chowdhury claimed.
He said that fixing the price of the product based on the previous month's Saudi Aramco's Contract Price (CP) was irrational.
Azam J Chowdhury also said: "We fixed Tk 50 for the distributors, but they have fixed it at Tk 24. On the other hand, it is Tk 50 for the BPC distributors. Separate payment system has been fixed for distributors of government and private organizations. Their one-sided price order is creating discrimination. These people are going to destroy the industry."
BERC will be held responsible if the sector faces any damage, LOAB president added.
Representatives from Bashundhara LPG, Omera LPG, Orion LPG, Jamuna LPG and JMI LPG were present at the programme.
BDST: 1824 HRS, JUN 15, 2021