Govt earns Tk 1.73 trillion from fuel

At the import stage, diesel generates the highest amount of government revenue among individual commodities. According to National Board of Revenue (NBR) data, Bangladesh Petroleum Corporation (BPC) paid Tk 112. 28 billion in duties and taxes to the government on diesel imports alone in the last fiscal year. The figure is even larger when all types of fuel are taken into account. According to BPC data, the corporation paid the government around Tk 1. 19 trillion in duties and taxes on fuel imports over the 10 years from fiscal 2016-17 to 2025-26. Despite paying this huge amount in duties and taxes, BPC remained profitable for most of that period. According to audited accounts for fiscal 2014-15 to 2024-25, the corporation recorded a loss in only one year. Excluding that loss, it posted net profits of Tk 531. 32 billion over the remaining 10 years.

Adding the two figures—duties and taxes and profits over the 10-year period—gives a total of Tk 1. 72 trillion. Ultimately, this money came from revenue earned by selling fuel to consumers. During the tenure of the Awami League government, which was ousted in the July mass uprising, and the interim government, domestic fuel prices were not reduced in line with declines in global prices. The global market began becoming volatile after the BNP government took office. On 18 April, diesel prices were raised by Tk 15 a litre to Tk 115. Last Sunday, they were increased by another Tk 20 to Tk 135. At the same time, kerosene was priced at Tk 155, petrol at Tk 160 and octane at Tk 165 a litre. The new prices took effect on 21 September. On the issue, State Minister for Power, Energy and Mineral Resources Aninda Islam told Prothom Alo that although prices in the international market had risen, the government had been reluctant to raise…