BERC (Bangladesh Energy Regulatory Commission) could not amend the petroleum regulations even after four months. Bangladesh Petroleum Corporation (BPC) is doing the price coordination formula with the international market taking the opportunity of this laxity of the commission.

But in the inter-ministerial meeting (December 14, 2022) it was decided that BERC will determine the price of oil. In that meeting, it was decided to speedily approve the BERC regulations subject to amendment pending for a decade.

In that meeting, the then Senior Secretary of Energy and Mineral Resources Division gave his opinion on determining the price of oil and gas according to the international market price. The minutes of the meeting showed that after the opinion of the Secretary, BERC brought forward the model for determining the price of LP gas every month. The pricing of oil and gas is discussed according to the same model. If possible every 3 months re-fixation of rates is decided. For this, the need to change the draft regulations is highlighted.

BERC is supposed to fix the prices of all types of fuel as per the BERC Act. Although prices are fixed in the case of electricity and gas, prices are being fixed by executive order as the petroleum rules are not finalized. BERC submitted the approval of Petroleum Products Retail Tariff Regulations, 2012, Petroleum Products Storage Marketing and Distribution Regulations, 2012, and Petroleum Products Transport Tariff Regulations, 2012, but the ministry kept it on hold for a decade. According to the decision of the inter-ministerial meeting, the regulations were sent back to BERC for amendment in January.

When sent to BERC, the Abdul Jalil Commission was at the end of its term. The Jalil Commission left it for the new commission without taking up the task. Even if the new commission comes, it does not show much attention. Many regulations are in the freezer. According to Commission sources, Deputy Director (Tariff) Kamruzzaman has been given the responsibility; he is yet to prepare the draft.

BERC Member (Administration, Finance and Law) in reference to BPC's activities on the ground of BERC's delay. Muhammad Yamin Chowdhury's attention was drawn. He told Barta24.com that the price can be done by any organization. Whether BPC does it or we do it is not a big issue here.

Chairman of BERC Nurul Amin told Barta24.com, after I joined, I ordered to prepare the regulations in the light of the working papers of the ministry. But not presented till now. In response to the question of when it can be finalized, he said, we want to send it to the ministry by May.

Energy and Mineral Resources Division sources said that fuel oil will be sold and bought at the international market rate from next September. If the international market increases, it will increase, and if it decreases, it will decrease. Adjustments will be made every two or three months. It is only a matter for the government now, the terms of the IMF loan include withdrawal of subsidies so the government is very active.

BERC and BPC have been at loggerheads since the beginning on the issue of oil prices. BPC and the Ministry do not want to miss the issue. That is why regulations are suspended. Now when the opportunity has come forward it is going to be missed due to laxity of BERC.

Senior Vice Chairman of Cab Energy Affairs Advisor Shamsul Alam told Barta24.com that the BPC and the ministry have been illegally fixing oil prices for so long by hanging the regulations. They still want to hold onto it. And those assigned to BERC will not perform legal duties. He does not want to do it, he is working in obedience to the government. Public interest is being undermined, unscrupulous businessmen are looking after interests and nothing is going according to norms. Government takes dividends from companies.

A BERC official told Barta24.com, on condition of anonymity, that the regulations do not require much amendment. The ministry could have done what is supposed to be done, here only a line can be added that the price can be adjusted after two or three months. Basically, if the regulations submitted in 2012 come forward, the ministry will be embarrassed, hence this drama.

Last January, Additional Secretary of Energy and Mineral Resources Division, Khalek Mallick told Barta24.com that it has been decided to bring some additions to the regulations of BERC. BERC will also determine the price of fuel oil. In that light, it was decided to amend the draft regulations in the meeting.

BERC has been fixing LPG rates every month. Costs and commissions of importers have been finalized through public hearing. Now only the gas price fluctuates every month. That is, if the price increases in the international market, the product price increases, if it decreases, that part decreases. A similar approach is being considered for diesel petrol as well. Operating costs including shipping costs and import costs will be separated. Operating cost will remain unchanged and after 3 months the country's market price of fuel oil will be more or less in line with the international market rate. It has been decided to finalize the pending BERC regulations with amendments so that BERC can function within the legal framework.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid said, we are thinking about opening the fuel oil market. There can be private companies as well as government companies. Trying to figure out a method, if the price increases in the international market, it will increase in the country, and if it decreases, it will decrease in the country. The government no longer wants to subsidize fuel oil.

According to BPC data, the demand for fuel oil in the country was 62 lakh 99 thousand 730 metric tons in the financial year 2020-21. Sector basis fuel has been used the most in the transport sector, 39 lakh 63 thousand 725 metric tons equal to 62.92 percent were used in that financial year. Next, there is 9 lakh 75 thousand 604 metric tons in the agriculture sector; the demand in the electricity sector was 6 lakh 52 thousand 66 metric tons. While 4 lakh 50 thousand 437 metric tons in industry; 97 thousand 600 tons in households and 1 lakh 60 thousand 298 metric tons in other sectors.

Commerce Secretary Tapan Kanti Ghosh said, Bangladesh may face various hurdles in the export of readymade garments after LDC (Least Developed Countries).

He said, 'So, we need to ensure some policy support to be competitive in the global market as well as continue the trend of export of readymade garments.

He said these things in a workshop titled 'Study on Policy Support and Incentives Before and After LDCs Graduation for RMG Sector' at Bangladesh Foreign Trade Institution (BFTI)’ on Sunday.

Under the chairmanship of BFTI chief executive officer Zafar Uddin, Vice Chairman of Export Development Bureau (EPB) AHM Ahsan also spoke in the program and BFTI Director General Md. Obaidul Azam moderated the workshop.

Md. Jafar Uddin said that the best use of incentives and subsidies in RMG exports should be ensured before LDC graduation.

The record-breaking heat of the past 50 years has increased the demand for electricity more than expected. As a result, we have to do load shedding despite our reluctance, said Mohammad Hossain, Director General of Power Cell.

On Tuesday (April 18) in his Facebook post, the Director General of Power Cell, a development and research institute of the Electricity Department, claimed this.

In this he wrote, we had already assumed that this year the demand for electricity will reach its highest level due to summer, irrigation season and the holy month of Ramadan. We designed our production plan keeping that in mind. We have also proved it. Last night we managed to generate 15604 MW, the highest in history. Earlier we were able to generate a maximum 14782 MW on April 16, 2022.

Respected customers are suffering due to load shedding. We are sorry for that. But we continue to make every effort to deal with the situation. Hope the situation will improve soon.

He wrote to the residents of his own area, especially to me expressing my sincere regrets and humbly asking for patience with respect to the expectations of my fellow Hajiganj-Shahrasti residents. Hope we can overcome this situation very soon. Thank you very much for your cooperation.

Let us respond to the Prime Minister's call and be energy efficient. This will reduce demand, thereby reducing the need for load shedding. If electricity is efficient, your electricity bill will be reduced, and it will also benefit the country.

Similarly, Minister of State for Power, Energy and Mineral Resources Nasrul Hamid wrote in a Facebook post, "Dear customers, this year, we had anticipated that the demand for electricity would reach its highest level due to summer, irrigation season and fasting together. We have also proved our pre-preparedness by generating record electricity in the history of Bangladesh. But the current unprecedented heat wave, breaking the temperature record of the last 50 years, has increased the demand for electricity much more than expected. As a result load shedding has to be done in many parts of the country. Common people, especially children and the elderly are suffering a lot. We express our sincere sympathy and sorrow for these untimely sufferings. Also, for everyone's information, I would like to inform you that the power department is working hard to resolve the situation. Very soon the comforting atmosphere will return again. Dear customers, Thank you very much for your patience.”

Hong Kong-based global lifestyle brand GIORDANO premium quality apparel will be available on Daraz, the country's popular e-commerce platform. GIORDANO Bangladesh (NEERA International) Exclusive Rights Owner in Bangladesh and Daraz Bangladesh Ltd. have agreed on this.

A joint meeting was held on Sunday (January 29) at the capital's Banani Ashfia Tower DARAZ corporate office to market Giordano's products and deliver them to buyers in remote areas of the country at affordable prices.

Shah Eskander Ali, CEO of Giordano Bangladesh and Kamrul Hasan, Commercial Director of Daraz Bangladesh Ltd. led the meeting on behalf of their respective organizations.

GIORDANO Bangladesh and DARAZ Bangladesh Ltd decided in the meeting that by signing an agreement between themselves, Daraz will soon start distributing GIORDANO premium quality merchandise across the country and provide better customer service.

Giordano's premium merchandise including men's, women's, children's clothes, watches, glasses, shoes, belts, bags, umbrellas and daily necessities are known, appreciated and popular in almost all countries of the world.

Giordano Bangladesh CEO,Shah Eskandar Ali said that at the beginning of this initiative to market these premium quality products at low profit, Giordano customers will be given attractive discount offers.

GIORDANO, is one of the leading international retailers of men’s women’s and children’s apparel and accessories,established in Hong Kong in 1981. The main slogan of the organization is (World Without Strangers). Giordano is recognized as one of the world's most popular lifestyle brands with superior quality products and customer service.

Giordano's success story is taught as a case study to the students at Harvard University in America.

Recently, Giordano Middle East Managing Director Ishwar Chugani was awarded the Dubai based Retail M.E. Award for successful business expansion in 12 countries of South Asia including Middle East and Bangladesh.

The joint meeting was attended by Daraz Bangladesh Head of Acquisition Operations- Commercial Simon Sanjid Chowdhury, Head of Acquisition Performance- Commercial Mohammad Shahadat Hossain, Chief Commercial Officer Sabbir Hossain, Assistant Manager Acquisition- Commercial Aftaf Ahmed, Executive Commercial Ahmed Al Mohaimin. And Giordano Bangladesh's Sales Development Manager Mohammad Mamun Ahmed and Online Sales Manager Engineer Abu Saeed Al Saqib.

Located at the center of the business and diplomat districts of Dhaka; Amari Dhaka has received the "Resort and Retreat Awards 2022" from LUX Life Magazine.

LUX life launched the Resorts & Retreats Awards almost a decade ago to recognize those who have dedicated themselves to offering the finest experiences, products and services all over the globe. From established stalwarts, to up and coming newcomers, we endeavor to seek out the paragons who lead the pack and set the pace for all others to follow.

This award annually recognizes the Best Contemporary Business Hotel – Dhaka "for proven expertise, customer service and commitment to promoting excellence in the sector". After an exhaustive evaluation during the seventh edition of the annual ‘Resort and Retreat Awards 2022’, the international jury of LUX Life Magazine has awarded the prize in the category ‘Best Luxury Hotel Resort’ to Amari Dhaka "for its merit and contribution to the luxury industry, now and more than ever, in a time of uncertainty". Christopher Baker, General Manager of Amari Dhaka, has declared that "We are very happy and proud of our team. In times as difficult as these, our staff has kept the enthusiasm and the service quality we offer our clients. This recognition from LUX Life Magazine is an incentive that encourages and inspires us to continue improving and innovating in our value offer".