Finance and Planning Minister Amir Khosru Mahmud Chowdhury has said that the latest increase in fuel prices in Bangladesh is not tied to any conditions set by the International Monetary Fund, emphasizing that the decision was driven by domestic economic realities rather than external pressure.
Speaking to reporters at the Secretariat on Sunday, the minister rejected suggestions that the fuel price adjustment was part of IMF requirements. “Fuel prices were increased even before the IMF meeting,” he said, adding that nearly all countries have raised fuel prices amid global trends, while Bangladesh had delayed such a move to protect public interest.
He argued that the increase was modest compared to global standards and necessary to ease mounting pressure on government finances.
“If prices are not adjusted, how will the government run the country?” he said, noting that maintaining subsidies was straining state funds needed for other development programmes.
The minister also dismissed claims that donor agencies influenced the decision, reiterating that Bangladesh made the adjustment based on its own economic context.
He pointed out that fuel prices in countries like the United States had doubled, whereas Bangladesh implemented only a limited increase.
On the broader economic front, Chowdhury said discussions with the IMF are ongoing and may continue for another two to four weeks.
He indicated that the government may not agree to all conditions set under the previous administration’s agreement with the lender, stressing policy independence.
“We are an elected democratic government. Decisions will not be based solely on their views; we have our own priorities,” he said.
He added that negotiations with other development partners, including the World Bank and the Asian Development Bank, have already seen significant progress, with further high-level visits expected soon.
Addressing inflation, the minister said it remains uncertain whether price pressures will rise further, but assured that the government is closely monitoring the situation.
He also highlighted ongoing social protection efforts, noting that the “family card” programme has received strong appreciation from development partners.
Chowdhury concluded by saying that all major donors are willing to support Bangladesh, as the government navigates economic challenges while trying to balance fiscal stability and public welfare.