BANGLADESH: People were seen queuing up at fuel stations late at night across several parts of Bangladesh after the economy witnessed the prices of fuel skyrocketing at 52%.
Angry protesters formed a collective mob and demanded that the matter of unexpected price rise be dealt with urgently to quell the sorrows of Bangladeshis who have been hit by a staggering economy.
The diesel rate is said to have hiked by 34 Taka per litre in the history of the country’s “highest ever” price hike since its Independence.
The probable reason behind this hike is the series of hefty loans that the government has taken from various global lending agencies, including the International Monetary Fund (IMF), which has consequently led to soaring food and energy prices that have inflated its import bills.
Bangladesh, which at one point in history was set to be one of the fastest growing economies in the world, has lately been witnessing several student protests in the capital city of Dhaka.
Dhaka Tribune cited a protester saying, “Common people are already in hardship to cope with the rise of living costs. Government’s looting of public property and mismanagement led people toward this suffering.“
It is also to be emphasized that the state-run Bangladesh Petroleum Corporation (BPC) had incurred a loss of more than 8 billion Taka ($85 million) and hence, the fuel hike was inevitable.
Bangladesh at present has had an inflation rate of 6% for nine months straight.
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