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Titas gas price hike proposal has no grounds

Says BERC evaluation committee on second day of public hearing

UNB, Dhaka
Disagreeing with the nearly doubled (95 percent) on average gas price proposal by Titas Gas Transmission and Distribution Company, a technical evaluation committee (TEC) of the Bangladesh Energy Regulatory Commission (BERC) has failed to find grounds for raising the price at all - as the company is on course for surplus revenue to the tune ofTk359.63 crore at the prevailing price.
The TEC placed its findings yesterday on the second day of a public hearing arranged by the BERC in the capital.
The Consumers Association of Bangladesh, Bangladesh Textile Mills
Association (BTMA), and the Bangladesh CNG Association, among others, opposed Titas's price proposal, contending it would be illegal and unfair to raise the gas price at this point, when the company is making huge profits.
Titas officials argued the price hike was needed to meet future expenses.
They said it was also needed to pay advance income tax (ATT) to the National Board of Revenue, which would not be possible without the hike.
Their statement caused a heated debate over the proposed gas price hike.
As per the BERC law, the three-member commission headed by its
chairman will make its own evaluation and announce the final decision after completion of the hearing.
The Titas gas officials said they placed the proposal to the BERC as per the instruction of the government.
CAB Advisor Prof Shamsul Alam said that according to the existing law, Titas Gas is a service providing company which belongs to the citizens. "It cannot propose hiking prices unless it incurs losses...," he said. "But the company is making huge profit of over Tk359 crore."
BTMA president Tapan Chowdhury said that if the gas price is raised it will be detrimental to the export-oriented industries as they will face tough global competition.
As per the proposal, household gas price will be hiked by the highest 140 percent, where gas price will be raised to Tk 16.80 per unit from Tk 7. The cost of a single burner oven will go up to Tk 1,100 from Tk 600 while the double burner will be Tk 1,200 from Tk 650 per month. The proposed hikes are 83 and 85 percent respectively.
The compressed natural gas (CNG) price has been proposed to be raised by 83 percent to Tk 49.50 per unit from Tk 27. The consumer will have to pay Tk 57.50 for per unit of CNG instead of Tk 35 per unit.
For captive power plants, the gas price was proposed to be raised by 130 percent to Tk 19.26 from Tk 8.36 per unit.