Fuel Reserves Adequate, Expansion Plans Underway

The Government has confirmed that the country currently maintains sufficient reserves of fuel, with plans underway to further increase stock levels. Historically, the nation kept approximately 15 days’ worth of fuel in reserve. Today, reserves stand at around one month’s supply, offering a stronger buffer against any potential shortages.

Speaking at a press briefing held at the Secretariat on Wednesday evening, following a cabinet meeting chaired by Prime Minister Tarique Rahman, Cabinet Secretary Nasimul Goni addressed questions from journalists regarding the fuel situation. Although the issue of fuel reserves was not formally on the cabinet agenda, Secretary Goni provided the information in response to queries about a separate review meeting held earlier that morning on the country’s energy status.

Commenting on the Prime Minister’s review, Secretary Goni said, “The Prime Minister has thoroughly assessed all available government resources and verified the progress of ongoing initiatives. He has examined how the ministries have acted and reviewed the current state of affairs. This evaluation ensures the government’s preparedness and capacity to manage the nation’s fuel needs.”

On the specifics of current reserves, the Secretary stated, “Previously, the general stock was around 15 days. At present, the reserves are more than sufficient, roughly equivalent to a month’s supply. There are ongoing plans to expand this reserve even further in the near future.”

Addressing public concerns over panic buying, Secretary Goni added, “The temporary surge in consumer demand should subside within a few days once confidence is restored.” Regarding circulating rumours about a potential rise in fuel prices, he clarified, “I am not aware of any such indications, and there are no signs suggesting a price hike at this stage.”

Cabinet Approves Drafts of Five Key Laws

In addition to reviewing fuel reserves, the cabinet approved the drafts of five laws. These drafts are part of the 133 ordinances passed during the previous caretaker government, which now require formal legislative approval to become acts.

The Cabinet Secretary highlighted that the approval of these drafts strengthens the country’s legislative and economic framework, ensuring both transparency and efficiency in government operations.

The Government emphasises that with adequate fuel reserves in place, proactive measures being implemented, and continuous monitoring by the Prime Minister, the nation is well-prepared to meet its energy demands and maintain stability in the market.