Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud, told Parliament on Sunday, April 19, that the country’s existing gas reserves are sufficient to meet national demand for the next 12 years. Responding to a question from MP Md. Mosharraf Hossain during a session chaired by Deputy Speaker Kaiser Kamal, the minister said the total recoverable gas reserve stands at 29.74 trillion cubic feet, of which 22.11 trillion cubic feet had been extracted by December 2025. As of January 1, 2026, the remaining reserve is 7.63 trillion cubic feet.

He explained that if no new gas fields are discovered and the current supply rate of about 1,700 million cubic feet per day continues, the remaining reserves could sustain supply for around 12 years. The minister also outlined ongoing exploration efforts under Petrobangla’s master plan, which includes drilling 50 new wells and overhauling 100 others, with 26 wells already completed.

Additionally, seismic surveys are progressing, with Bapex completing 3,600 kilometers of 2D data collection in blocks 7 and 9, and preparations underway for 3D surveys in several regions.

Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud, told Parliament on Sunday that dishonest traders are illegally stockpiling and black-marketing fuel, creating an artificial shortage at filling stations. He clarified that no directive has been issued to limit fuel sales or apply color markings on motorbikes, but panic buying and hoarding have contributed to the perceived crisis.

The minister said there is no actual fuel shortage in the country and cited the foreign affairs state minister’s earlier statement affirming this. To maintain normal supply, district and upazila administrations, along with Bangladesh Petroleum Corporation (BPC) tag officers, have been deployed nationwide. Mobile courts have conducted 9,116 operations, filed 3,510 cases, imposed fines totaling 15.6 million taka, and recovered 542,000 liters of fuel. Awareness campaigns and law enforcement actions are ongoing to curb illegal storage and black marketing.

Mahmud added that the government has introduced a pilot fuel card system at several Dhaka filling stations to enhance transparency in fuel distribution. If successful, it will be expanded nationwide.

Finance Minister Amir Khosru Mahmud Chowdhury has stated that the recent increase in fuel prices in Bangladesh has no connection with the International Monetary Fund (IMF). Speaking to reporters at the Secretariat on Sunday, shortly after returning from the United States, he clarified that the decision to raise fuel prices was made independently by the government.

The minister explained that while fuel prices have doubled in many other countries, Bangladesh’s increase was comparatively smaller. He said the adjustment was necessary due to pressure on the government’s financial reserves. When asked whether the price hike would lead to higher inflation, he responded that inflation might rise or might not, indicating uncertainty about the outcome.

The statement comes amid public attention on the economic implications of the fuel price adjustment and speculation about external influence on domestic policy decisions.

Victims’ Coordination Council of Islamic Bank customers held a protest in Dhaka following a human chain by dismissed employees of six banks. During the demonstration, participants demanded the arrest of businessman S Alam, recovery of allegedly laundered money, and cancellation of a new clause in the bank resolution law. They displayed banners calling for an end to attempts to seize control of Islamic Bank and denouncing what they termed a ‘black law’ on bank ownership.

Nurun Nabi Manik, president of the Islamic Bank Customers’ Coordination Council, announced a 15-day program alongside five specific demands. These included arresting S Alam and other alleged looters, confiscating their assets, repealing clause 18/Ka of the bank resolution law, and returning bank ownership to its original owners. The protesters also warned the government against allowing any illegal groups to take control of the bank.

The protest reflected growing frustration among Islamic Bank customers over alleged irregularities and ownership disputes, with participants urging immediate government action to restore transparency and accountability in the banking sector.

Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud Tuku, announced that the government has been compelled to increase fuel prices due to the ongoing war situation in the Middle East. He made the statement during a briefing at the Secretariat on Sunday, noting that despite the price hike, the government continues to provide subsidies on fuel.

The minister explained that the decision was made in response to global circumstances affecting energy markets. He acknowledged that the price increase could have some impact on the domestic market but emphasized that the government had to act considering the international context.

The announcement reflects the government’s effort to balance domestic economic pressures with external geopolitical developments influencing global fuel prices.

The Philippines has declared a one-year national energy emergency as rising tensions between Iran and Israel threaten to disrupt oil shipments through the strategically vital Strait of Hormuz. President Ferdinand Marcos Jr. warned that the country’s energy security faces imminent danger. In response, the government has launched extensive programs for energy conservation, subsidies, and direct cash assistance to citizens.

According to the report, 98 percent of the Philippines’ energy supply passes through the Hormuz Strait, leaving the country with no alternative but to act decisively. The situation serves as a wake-up call for developing, import-dependent economies such as Bangladesh, which could face similar vulnerabilities. The article emphasizes that global market instability directly affects transportation, agriculture, and industry in such nations.

The author suggests that Bangladesh should establish at least a three-month strategic energy reserve, diversify import sources through regional diplomacy, and accelerate domestic exploration of gas and coal. Expanding renewable energy production and enforcing strict energy-saving policies are also deemed essential to ensure long-term national energy security.

The country’s only state-owned Diammonium Phosphate Fertilizer Company Limited (DAPFCL) in Anwara, Chattogram, has stopped production. The factory management announced the shutdown at around 7 p.m. on Saturday, April 19, 2026. The plant, which began commercial fertilizer production in 2006, had been dependent on ammonia supplies from Karnaphuli Fertilizer Company Limited (KAFCO) and Chittagong Urea Fertilizer Limited (CUFL).

According to DAPFCL officials, both KAFCO and CUFL halted ammonia production on March 4 due to a gas shortage, disrupting DAPFCL’s operations. The company’s General Manager (Administration), Abdul Jalil, said the factory does not produce ammonia itself and had been using stored reserves, which have now been exhausted. Managing Director Moinul Haque confirmed that the ammonia supply stoppage had placed production at risk, leading to the shutdown.

The closure of DAPFCL follows earlier production halts at KAFCO and CUFL, signaling a broader impact of the ongoing gas crisis on Bangladesh’s fertilizer industry.

Public transport fares in Chattogram rose on Sunday morning following a nationwide increase in fuel prices. Diesel-powered local Mahindra and tempo services raised fares on routes such as Bahaddarhat to New Bridge and Bahaddarhat to WASA from 18 to 22 taka. Local bus fares also climbed by up to 20 taka, while the Muradpur–Fatikchhari Bibirhat route saw fares rise from 100 to 120 taka. However, long-distance transport operators have not yet implemented fare adjustments.

Transport officials said inter-district fare changes will depend on formal decisions from vehicle owners. On the Chattogram–Cox’s Bazar route, operators are maintaining previous rates until further notice. Drivers reported difficulties obtaining fuel due to long queues and the recent price surge.

The government increased fuel prices by 15 to 20 taka per liter effective from midnight on April 18, raising diesel by 15 taka, octane by 20, petrol by 19, and kerosene by 18 taka. The hike has directly affected living costs, with daily commuting expenses rising by 20 to 50 taka for many residents.

Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud Tuku, stated on Sunday, April 19, 2026, that domestic oil prices have increased only slightly compared to the sharp rise in global markets. Speaking to journalists, he explained that instability in the international energy market has already caused the government an additional expenditure of two billion US dollars on fuel imports.

The minister noted that global oil prices have nearly doubled since the onset of the war, creating significant economic pressure on the government. Despite this, he said the government has not raised domestic prices proportionally, prioritizing public relief and economic stability.

Tuku added that the government is maintaining market stability by providing subsidies and absorbing the extra costs itself to minimize public hardship and preserve overall economic balance.

Bangladesh Jamaat-e-Islami Secretary General Mia Golam Porwar has expressed deep concern and protest over the government’s decision to increase fuel prices. In a statement issued on Sunday, he said the new rates raise diesel by 15 taka per liter, kerosene by 18 taka, octane by 20 taka, and petrol by 19 taka. He warned that this decision would bring new suffering to ordinary people and negatively affect the overall economy.

Porwar cautioned that higher fuel prices would increase transportation costs, leading to a rise in the prices of essential goods. He said middle- and low-income groups would be hit hardest as their expenses would multiply without any increase in income, making daily life more difficult. He also noted that industrial production costs would rise, potentially worsening inflation, while the agriculture sector would face higher irrigation and input costs, posing a threat to food security.

He urged the government to reconsider the fuel price hike and reduce it to a tolerable level to ease the burden on citizens.

The Bangladesh Petrol Pump Owners Association has welcomed the government’s decision to adjust domestic fuel prices in line with global market trends. The association’s member secretary, Mir Ahsan Uddin Parvez, said they appreciate the move as it reflects the recent rise in international fuel prices and ensures a fair adjustment in the local market.

According to the association, this decision will help reduce artificial shortages and hoarding tendencies in the fuel supply chain. They also expect the measure to bring greater transparency to market management and stabilize supply operations. The association emphasized that aligning domestic prices with international rates allows businesses to operate fairly and maintain a steady distribution system.

The statement suggests that the government’s pricing policy could contribute to a more balanced and transparent fuel market in Bangladesh, benefiting both suppliers and consumers.

The Bangladesh government has initiated a process to increase electricity prices in response to heavy subsidy pressures and mounting financial losses in the power sector. A high-level committee, formed on April 9 and led by Finance Minister Amir Khosru Mahmud Chowdhury, has begun reviewing proposals to adjust wholesale and retail electricity rates. The Power Development Board (PDB) reported that the current production cost per unit is around Tk 12, while the average selling price is just over Tk 7, resulting in a loss of about Tk 5 per unit. Despite Tk 38,637 crore in subsidies during the 2024–25 fiscal year, the sector still recorded a Tk 17,021 crore loss.

Officials indicated that consumer-level prices may rise by Tk 0.70 to Tk 1.80 per unit, and wholesale rates by Tk 0.50 to Tk 1.20, though prices for small users consuming up to 70 units may remain unchanged. The committee will submit its recommendations to the cabinet after reviewing the proposals.

Energy experts said the government has little alternative but to raise prices amid global fuel instability, though they urged accountability for past corruption and mismanagement that inflated production costs.

Bangladesh’s ready-made garment industry has entered a severe downturn since July of the current fiscal year, with exports falling steadily due to global instability and the Middle East war. According to BGMEA data, March 2026 exports dropped to USD 2.78 billion, down over 19 percent from a year earlier. The industry now faces a fourfold crisis—declining orders, surging shipping and transport costs, and worsening power shortages. BGMEA warns that if the situation persists, many factories may be forced to close.

Former BGMEA vice president Nasir Uddin Chowdhury said the Middle East conflict has intensified existing global economic disruptions, making buyers cautious and pushing Bangladesh behind China and Vietnam. Shipping costs have soared, with container rates to Europe rising from USD 1,600 to as high as USD 2,400, while Middle East-bound freight now costs up to USD 5,000 per container. Domestic transport and fuel costs have also nearly doubled, and frequent load-shedding has crippled production.

BGMEA leaders have urged the government for greater policy and financial support, including soft loans, to help sustain the sector amid prolonged global and regional instability.

Prime Minister’s Economic and Planning Adviser Rashed Al Mahmud Titumir said Bangladesh’s people are becoming hostage to IMF loans due to past bailout decisions made under tough conditions. Speaking at a seminar at the Economic Reporters Forum office in Dhaka’s Paltan on Saturday, he claimed the previous government concealed the true economic crisis and pursued nepotistic policies. The event focused on economic stability, fiscal capacity, and the government’s 180-day action plan.

Titumir emphasized that the current administration inherited a fragile economy, with remittance inflows sustaining growth rather than structural reforms. He outlined five pillars of the government’s manifesto, including state reform, equitable development, and institutional strengthening. He also called for better coordination between fiscal and monetary policies and expressed confidence in Bangladesh Bank’s independence. Economist Mustafizur Rahman identified three major tests for the government: managing inherited crises, maintaining policy autonomy amid IMF conditions and geopolitical pressures, and ensuring inclusive growth.

Speakers from the garment and export sectors highlighted energy shortages, inconsistent policies, and declining exports as key obstacles to investment and employment recovery.

Iraq’s Ministry of Oil has announced that the country will resume oil exports from all its fields within the next few days. Ministry spokesperson Saheb Bazoun confirmed the development in an interview with the Iraqi News Agency, stating that Iraq is in contact with major companies and tankers to finalize export agreements. He emphasized that all oil fields are ready for operation and that the ministry’s doors remain open to all companies.

Bazoun added that accelerating the export process will help bring economic stability, increase state revenue, and strengthen domestic oil production. He also noted that the move will support local demand for liquid and dry gas, ensuring continued operation of power plants.

Separately, Iraq’s Ministry of Transport reported that a large oil tanker has arrived at Basra port. This marks the first Iraqi shipment since the reopening of the Strait of Hormuz, from which two million barrels of oil are expected to be loaded.