Readjust prices of oil

By Kumar Krishna Biswas, University of Dhaka
19 November 2005, 18:00 PM
We, the middle class citizens, are in a real dilemma due to frequent change in micro economic policy. In most of the situations, the government takes some deceptive decisions that ultimately lame the common masses-- just to make happy its elite satellites. The recent price hike of oil across the globe above $70 per barrel is an example of how things are being dealt with. The people of our country whose per capita income is no more than $467 would expect to get supply of oil at a subsidised price because oil spiral has a correlation with the prices of all other daily necessities. On the excuse of global price hike, the government had taken the initiative to adjust the price with foreign market that led to the new transportation fare of Tk .88 per km.

The oil prices went down last week. But we are still bemused to observe the standstill stance of the energy ministry because no initiative has yet been taken to adjust the prices with global market.