High cost of furnace oil taking its toll on economy
Now it is evident that reserve of our foreign currency is under pressure and one of the reasons behind it is that the import cost of furnace oil for power plants has become double within three years. It is estimated that expenditures in this sector in the current fiscal year would be about 48 thousand crore taka and the subsidy would be about more than 7 thousand crore taka. So the government fails to cope with the prevailing financial instability due to its impact, even though it has increased the price of power several times. But the situation would not be like this if the government took decisions wisely. This government set up many power plants in a hurry for solving the power crisis urgently and it could show results to the people. But these plants were gas or oil-based, not coal-based. But we have heard that there are huge stocks of coals in our coal mines. We fear that this unwise decision of generating more power by using gas or oil will have a long term effect on the economy.
However, we hope the government will not take any more hasty decisions just for cheap popularity.
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