The IMF questions the policy of adjusting energy prices

The International Monetary Fund mission inquired on Sunday about the electricity and energy price adjustment policy.

He also wanted to know the current situation of natural gas during his meeting with the officials of the Bangladesh Energy Regulatory Commission.

BERC officials said a PowerPoint presentation was made to inform visitors about its activities, including a public hearing attended by stakeholders ahead of the adjustment of electricity and gas prices.

Finance ministry officials said the IMF mission was due to hold meetings with different government entities on Monday, including the Bangladesh Investment Development Authority and the Bangladesh Securities and Exchange Commission, as part of its discussions other than the finance ministry and the Bangladesh Bank on the bill. $4.5 billion loan.

They said the mission was likely to finalize the terms and conditions of the loan with the BB and the Ministry of Finance on Tuesday.

The IMF is expected to conclude its two-week mission on Wednesday.

Finance Ministry officials say key IMF recommendations include removing interest caps on loans and savings, introducing a floating exchange rate and eliminating multiple exchange rates, proper accounting foreign exchange reserves and increased fiscal space through higher revenue mobilization.

Bangladesh has requested a loan of $4.5 billion over a three-year period to deal with the shortage of foreign exchange which has recently fallen below $36 billion from $48 billion nearly a year ago. ‘a year.

According to Ministry of Finance officials, a $1.5 billion loan as budget support is expected to be disbursed by February of the first year.

Eleanor C. William