DHAKA : Bangladesh is struggling to pay for imported fuel because of a dollar shortage, letters reviewed by Reuters show, with the state petroleum company owing more than $300 million as it faces an 'alarming decrease in fuel reserves'.All import and marketing of fuel in the country of nearly 170 million
DHAKA : Bangladesh is struggling to pay for imported fuel because of a dollar shortage, letters reviewed by Reuters show, with the state petroleum company owing more than $300 million as it faces an"alarming decrease in fuel reserves".
Heavily reliant on energy imports, Bangladesh is grappling with power cuts resulting from a fuel shortage that have badly hurt its exports-oriented garments industry. The ministry, BPC and the central bank did not immediately respond to telephone calls to seek comment.The April letter said several fuel suppliers had either sent fewer cargoes than scheduled or threatened to halt supplies.
BPC will have to pay $41.1 million this year for diesel to India's Numaligarh Refinery Ltd, majority owned by Oil India Ltd, while IOC is owed $147.2 million for diesel and jet fuel, the May letter showed.
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