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Bangladesh Jamaat-e-Islami on Saturday criticised the government’s move to involve the private sector in the fuel sector, alleging it would amount to a “licence for looting” rather than meaningful reform.
At a press conference held at the party’s central office in Moghbazar, Jamaat Secretary General Mia Golam Parwar said the Energy and Mineral Resources Division has initiated steps to draft a policy allowing private companies to import, store, transport, distribute and market refined petroleum.
“This is not reform; this is a handover. This is not competition; it is a licence for corruption and plunder,” he said in a written statement.
He claimed the draft policy was rushed, alleging that instructions were issued within four days of a new chairman taking charge at Bangladesh Petroleum Corporation (BPC).
While stating that Jamaat is not opposed to a market economy or private investment, Parwar said the party rejects any move that lacks accountability and risks enabling corruption.
He also questioned the government’s argument that private sector participation would increase competition and reduce prices, noting that the fuel import business requires large-scale infrastructure such as deep-sea ports, single-point mooring systems, storage terminals, pipelines and strong financial capacity.
“In reality, only a handful of large conglomerates can enter this sector, which may replace a state monopoly with a private one,” he warned.
Rejecting claims that BPC is inefficient or loss-making, Parwar said the corporation made a profit of Tk 3,943 crore in FY2023–24 and Tk 2,050 crore in FY2024–25, despite earlier losses in previous years.
He attributed the current energy challenges to global market volatility and geopolitical tensions rather than management failures, adding that BPC has been incurring daily losses by keeping domestic prices stable amid rising international costs.
The Jamaat leader also criticised the government’s decision to shorten the international tender period for fuel imports from 42 days to 10 days for the September–December 2026 period, warning it could limit competition and create opportunities for syndicates.
“Speed and transparency are not mutually exclusive, but here transparency is being sacrificed in the name of urgency,” he said.
Parwar expressed concern that the country’s fuel market—worth around Tk 30,000 crore annually—could be concentrated in a few private hands, leading to significant excess profits.
He stressed that fuel is not an ordinary commodity but a critical component of agriculture, electricity, transport, aviation and national security.
Citing Bangladesh’s limited refining and storage capacity, including reliance on a single refinery, he questioned how the state would ensure supply during emergencies if the sector is privatised.
He also alleged that there are moves to weaken legal protections for workers in the energy sector.
Jamaat placed a six-point demand, including an immediate halt to the privatization initiative, publication of the draft policy for at least 60 days of public consultation, and open hearings under a parliamentary committee.
The party also called for reform of BPC instead of privatization, independent audits, professional appointments to its board, mandatory e-GP in fuel procurement, and regular disclosure of import data.
It further demanded fast-tracking expansion of refining capacity and strategic fuel reserves, and withdrawal of any move to reduce legal protections for sector workers.
“Reform means fixing institutions, not selling them. Energy security must remain under state control, not in the hands of a few groups,” Parwar said.
Jamaat leaders, including MP Najibur Rahman Momen and Assistant Secretary General Hamidur Rahman Azad, were also present at the press conference.