Finance Advisor Dr. Salehuddin Ahmed stated that the government will wait longer before increasing fuel prices. "For now, we are observing. If the Iran-Israel conflict continues for an extended period, it will put pressure on us," he said.
"We are monitoring the war. We've already seen a slight increase [in prices], but it hasn't affected the orders we've already placed," he added.
Dr. Ahmed made these remarks today, Tuesday, June 17, in response to a journalist's question after a meeting at the Cabinet Division conference room in the Secretariat.
The Finance Advisor further explained, "We are observing. If gas and LNG prices rise, then we will take it into consideration. The LNG import approval we granted today was quoted at the old price. We are fortunate that we will receive it at the previous rate."
Assuring that there would be no immediate impact on trade, he said, "However, we approved proposals to import LNG and fertilizer for special preparations, and those were at old prices. In the future, when we import new stock, there might be some effect."
Meanwhile, the Ministry of Power, Energy and Mineral Resources is certainly considering alternatives, "especially since we rely heavily on LNG. Due to the war, not just fuel, but also fertilizer and shipping will be affected. Shipping through the Strait of Hormuz could be impacted." However, he expressed hope that the war would not last long.
