No plans to raise electricity prices: Energy Minister

Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood Tuku on Sunday confirmed that there are no plans to raise electricity prices at present.

He made the remark while speaking to journalists at the Secretariat on Sunday.

He said the country currently has adequate stocks of diesel, petrol, and octane. Two diesel-carrying ships are scheduled to arrive on 9 March, with two more expected in the coming days.

The minister also noted that if the Strait of Hormuz becomes partially operational, international market conditions may gradually stabilise.

He urged the public not to panic or attempt to hoard fuel and warned that strict action would be taken against anyone selling fuel above government-fixed rates.

Iqbal Hassan Mahmood Tuku further said that during the holy month of Ramadan, authorities have been instructed to ensure uninterrupted electricity supply, particularly during iftar, tarawih, and sehri hours, to support households and maintain stability.

Earlier, Prime Minister Tarique Rahman has turned down a proposal to raise fuel prices, instructing authorities to maintain uninterrupted supply and prevent panic buying across the country.

The decision was made during a high-level meeting on the national energy situation held at the Prime Minister’s Office on Saturday afternoon.

Energy Minister Iqbal Hassan Mahmood Tuku, State Minister for Energy Anindya Rahman Amit, the energy secretary, and other senior officials were present at the meeting.

During the meeting, the Ministry of Energy presented a proposal to increase fuel prices, citing losses of around Tk18 to Tk20 per litre on diesel sales.

However, the Prime Minister emphasised that ensuring steady fuel supply and restoring normal market conditions were more urgent than raising prices. He also directed authorities to strictly monitor the market, prevent hoarding, and deploy mobile courts if needed to enforce compliance.

The Prime Minister’s directive aims to protect consumers, stabilise the energy market, and maintain public confidence amid ongoing international uncertainties affecting fuel and power supply.

This approach demonstrates the government’s commitment to balancing energy affordability and supply security during a sensitive period for both domestic consumption and the festive season.