The state-run Bangladesh Energy Regulatory Commission (BERC) on Sunday raised natural gas prices by 32.8% on average for all users effective from July 1, the first day of country's fiscal year, the head of the Commission said. "The price has been hiked only to adjust the huge losses of state-run Petrobangla," said Monwar Islam, the chairman of the Commission.
Petrobangla is incurring losses of about $235 million a month as it currently imports liquefied natural gas from the international market and sells it onto the domestic market at a loss, an official said.