LPG sellers making illegal profits

A number of companies involved in importing liquified petroleum gas and selling it to distributors are making profits illegally by selling it at a rate higher than the one fixed by the government, a drive found.

"We have found a chaotic situation in the LPG market," AHM Shafiquzzaman, director general of the Directorate of National Consumer Rights Protection (DNCRP), told media after a meeting with operators, dealers, and retailers.

The Bangladesh Energy Regulatory Commission has fixed the price of the 12-kg LPG cylinder at Tk 1,498 for February.

"We have found that the 12 kg LPG is being sold at Tk 1,600-1,800 in the market," Shafiquzzaman said.

DNCRP conducted at least 70 to 80 drives all over the country.

"People are not getting LPG at the fixed rate, which is mandatory," he said.

Representatives of LPG importers, operators, dealers and retailers were present in the meeting and all of them blamed each other.

The formula to fix the LPG price by BERC should be amended immediately as it is outdated.

The dollar rate, the diesel price, the gas price and the electricity price have increased, but BERC did not factor that into the formula despite sending several letters, said Jakaria Jalal, representative of the market leader Bashundhara LP Gas company.

"We have asked BERC to hold a public hearing to refix the pricing formula," he said.

In reply, BERC Secretary Khalilur Rahman said they will hold a public hearing within 15 days to a month if all the companies send their documents related to their claim.

"We will not hold a hearing in response to your verbal claim," he added.