Staff Correspondent

There was a lack of political foresight behind the government move to hike the prices of diesel and kerosene that has set off a domino effect on the economy, said the Centre for Policy Dialogue yesterday.

“This is neither logical from the economic point of view nor is it in line with government policy. We are saving money from one place but its impact will be everywhere,” said Mustafizur Rahman, distinguished fellow of the CPD, at a media briefing styled “Fuel price hike: how necessary was it?” yesterday.

With the view to arresting the losses of the state-run Bangladesh Petroleum Corporation (BPC) from the surging global energy prices, the government last week decided to hike the prices of diesel and kerosene by 23 percent, the biggest jump in a decade.

The move prompted the mass transport operators to call in a strike on Friday, causing great suffering to the common people and bringing the conveyance of goods to a standstill.

Three days later, to appease the operators the government hiked the bus fare by as much as 28 percent and launch fares by up to 43 percent.