Finance and Planning Minister Amir Khasru Mahmud Chowdhury will chair emergency sessions of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Government Purchase on Saturday afternoon to review and potentially approve the import of 1.7 million tonnes of fuel oil.
Both meetings will be held virtually, and if endorsed, the proposal could receive final clearance in the subsequent government purchase committee session later the same day.
The meetings have been convened as a precautionary step in response to instability in the international energy market caused by ongoing conflicts in the Middle East.
Officials said the proposal may include the direct import of 10 lakh tonnes of diesel and 1 lakh tonnes of octane from UAE-based DBS Trading House.
Additional shipments under consideration include 1 lakh tonnes of diesel from Maxwell International SPC of the UAE and 5 lakh tonnes from Kazakhstan’s Kazakh Gas Processing Plant LLP.
Earlier, on 31 March, the government approved the import of 2.60,000 tonnes of fuel oil.
Current estimates put Bangladesh’s diesel demand for April at approximately 3,50,000 tonnes. Of the 1.7 million tonnes proposed, around 1.6 million tonnes will be diesel. If the plan is approved, shipments are expected to arrive during May and June.
Following approval, the Bangladesh Petroleum Corporation (BPC) will secure performance guarantees from the suppliers and issue work orders through letters of credit.
Joint Secretary of the Energy and Mineral Resources Division Monir Hossain Chowdhury said the emergency session aims to ensure the country’s energy security.
He emphasised that octane stocks are sufficient for at least three months, while diesel supplies remain adequate for April.
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