Bangladesh’s capital Dhaka saw long lines outside gas stations over the course of the weekend as the government raised fuel costs. The long lines outside the gas stations started fears that Dhaka might be on a similar direction to Dhaka and Islamabad however the more brilliant side is that Bangladesh, in contrast to its Asian neighbors, has not defaulted on its payments.
The government declared that the climbed fuel costs by up to 51.7%. Presently petroleum costs are Tk 130, up by Tk 44 or practically 52%. The energy service said that the costs were brought as fuel costs up in the global market are much higher contrasted with Bangladesh.
The government likewise said that the cost rise was because of the feeling of dread toward pirating fuel out of the country. This is the most noteworthy increment since autonomy.
The commoners of Bangladesh need to endure the worst part of the rising fuel costs and the rising expansion. Neediness in Bangladesh has been an issue since its freedom in 1971 and by 2026 is supposed to ascend from its Least Developed Country (LDC) status to an emerging nation. However, a few locales of Bangladesh, particularly the Chittagong district in its south and its other southeastern locales are devastated.
The fuel climb has prompted quick toll climbs for transports, ships, and auto carts. The fuel cost climb likewise implied a climb in kerosene costs which implies more difficulty for unfortunate families who use kerosene to cook.
The Bangladesh government climbed fuel costs since it needs a $4.5 billion credit bundle or a bailout from the International Monetary Fund (IMF). Bangladesh’s import/export imbalance has reached $33.25 billion and settlements are somewhere near 15%. The Bangladesh government has additionally seen its forex holds fall underneath $40 billion.