DHAKA, April 19 (V7N) — Finance and Planning Minister Amir Khasru Mahmud Chowdhury today clarified that the recent adjustment in domestic fuel prices was driven by global market volatility, not by conditions set by the International Monetary Fund (IMF).

The government delayed raising prices “as long as possible” to protect citizens, despite pressure from depleting national funds.

Oil prices have surged worldwide, with costs doubling in the United States and rising 25% in Sri Lanka, he noted.

The increase in Bangladesh was described as “negligible compared to the rest of the world.”

The decision was made independently to manage the upcoming budget and ease pressure on the treasury.

The minister stressed that discussions with the IMF, World Bank, and Asian Development Bank (ADB) are ongoing, but the government will not accept conditions that create undue pressure on the public or businesses. He added that the current IMF programme, initiated under a previous administration, will conclude within six to seven months.

While acknowledging oil prices as a factor in inflation, Amir Khasru said supply and demand dynamics play a larger role. He emphasized that maintaining adequate reserves and ensuring steady supply would help mitigate the impact on the public.

The minister expressed confidence in continued support from multilateral partners, noting upcoming visits by the heads of the World Bank and ADB. He highlighted that these institutions are aligned with the government’s election manifesto and praised social welfare initiatives like the Family Card, which donors have recognized for effectively delivering benefits to grassroots communities.

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