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Meant for gas exploration
FROM PAGE 1
According to media reports, Petrobangla got the Finance Division’s approval on July 6 to spend Tk 2,000 crore as a “temporary loan from the GDF” to import liquefied Natural Gas (LNG).
But energy experts said the GDF was initiated only for gas exploration, not for gas import. And as per the GDF regulations, Petrobangla was legally bound to take the BERC’s permission to spend from the fund.
Talking to The Daily Star yesterday, energy expert Prof M Shamsul Alam said, “This [the spending] is illegal.”
Petrobangla had earlier taken such loans from energy security funds but never paid back, he said.
According to the GDF regulations, money from the fund can only be spent on gas exploration, production, development and distribution of gas.
Contacted, a Petrobangla official said that though the fund was not meant for gas import, they needed it due to an emergency.
“We applied to the GDF management committee, led by the energy secretary, which approved it upon the Finance Division’s permission,” said the official seeking anonymity.
This correspondent could not reach any official of the Finance Division for comment on the issue yesterday.
Earlier on June 27, the BERC asked Petrobangla to return to the GDF Tk 3,000 crore that the latter deposited with the state exchequer last year, showing it as surplus money.
The BERC also told Petrobangla to pay back Tk 9,227 crore that the national oil company took from the Energy Security Fund to import LNG between July 2018 and June 2021.
Asked about it, the BERC chairman passed the question to BERC Deputy Director (Tariff) Kamruzzaman who said there was no update as of now.
“We will ask them [Petrobangla] about it soon,” he said.
The GDF was created through a BERC order in July 2009, and a portion of the tariff paid by the consumers has been kept for the fund since 2019.
LPG PRICES SLASHED
The BERC has cut the prices of LPG, sold by private companies, by Tk 2.9 per kg.
According to the new rate, the price of a 12-kg cylinder of LPG, including VAT, is now Tk 1,219, down from Tk 1,254.
The price of LPG sold by state-owned LP Gas Limited remains unchanged. The price of a 12.5kg cylinder of LPG is still Tk 591.
Besides, the price of “autogas” used as fuel for vehicles has also been reduced to Tk 56.85 per litre, down from Tk 58.46.

UK PM hopeful Truss on back foot as poll lead shrinks
AFP, London
British Conservative Liz Truss’s leadership campaign faced its first serious peril yesterday as she was forced into a policy U-turn and came under fierce fire in Scotland, against the backdrop of a shrinking poll lead.
The foreign secretary was accused of insulting the government in Edinburgh after she alleged First Minister Nicola Sturgeon was an “attention seeker” for agitating for Scottish independence, and recommended to “ignore her”.
The provocative remarks, delivered at a Tory member hustings in southwest England late Monday, were denounced by the Scottish National Party (SNP), which is pressing for a second referendum on independence.
John Swinney, Sturgeon’s deputy as first minister of Scotland, called the remarks “obnoxious” and contrasted the roughly 200,000 Tory members with the 2.4 million votes the SNP won in elections last year.
“Nicola Sturgeon has far more democratic legitimacy than Liz Truss is going to have if she becomes the prime minister,” he told BBC television.
“And I think Liz Truss has absolutely no right or foundation to make these remarks,” Swinney said, arguing her “silly, intemperate intervention” had made the case itself for Scotland to go its own way.
Former finance minister Rishi Sunak, Truss’s rival in the race to succeed Prime Minister Boris Johnson, has also ruled out another referendum, after Scots voted narrowly in 2014 to stay in the UK.
Last week, Sunak called it “the wrong priority at the worst possible moment”.
But the SNP argues that Brexit has transformed the constitutional debate, and wants to hold a second plebiscite in October 2023.
The Supreme Court in London plans to hold hearings on October 11-12 this year on whether that would be legal without approval from the UK government, which by then will be led by Truss or Sunak.
“Keeping the UK together means confronting nationalism and beating them at the ballot box. Only I have a plan to do this,” Sunak said, after winning the endorsement of 10 Scottish Conservative colleagues.
Truss, however, already has the backing of big hitters in Johnson’s outgoing cabinet after initially building a strong poll lead on her promises of immediate tax cuts to address a cost-of-living crisis in Britain.
But as Tory members begin voting by post and online this week, a new survey reported by The Times said her lead had narrowed from more than 20 points to just five: 48 percent to 43 percent.
The result of the election is due on September 5.
Both candidates have been issuing daily pledges of policy changes in a bid to turn a page on the Johnson government and address Britons’ economic fears.
They have also been trying to curry favour with right-wingers in the Tory rank and file.
Truss outlined the creation of “regional pay boards” outside London for public-sector pay, rather than a uniform rate set nationally, as part of a plan to wage “war on Whitehall waste”.
The plan could save £8.8 billion ($10.75 billion) a year if it covered “all public-sector workers in the long term”, her campaign said late Monday.
That drew a storm of criticism from Tories in more deprived regions of England, noting that all state workers would include nurses, teachers and police officers already suffering from the spiral in inflation.
Despite its clear language, a Truss campaign spokesperson alleged Tuesday the plan had been subject to “wilful misrepresentation”, insisting in an apparent U-turn that there was no plot to slash the pay of any public-sector workers.
Truss’s remarks about the leader of the UK’s second-biggest nation meanwhile revived criticism that she lacks judgment, as when encouraging Britons to fight in Ukraine at the start of Russia’s invasion.
And many pointed to Truss’s own high profile on social media and repeated invocation of Margaret Thatcher, the Conservative premier throughout the 1980s, in photo opportunities such as when she posed atop a tank.
Best-selling author Philip Pullman tweeted: “Has any politician ever, anywhere, shown less self-awareness than Liz Truss calling Nicola Sturgeon ‘attention-seeking’?”