Government may lower fuel prices

The government is "actively considering" lowering fuel prices, State Minister for Power, Energy and Mineral Rsources Nasrul Hamid told parliament yesterday.

In a scripted reply, he, however, did not specify from when the reduced price would come into effect.

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The government drew flak for not lowering the oil prices after the global market price plummeted since 2014 despite repeated urges and outcries.

Replying to lawmakers' queries, Nasrul said the government has planned to dig 57 exploration gas wells, 43 development wells and work over of 20 wells by 2021.

The government expects to produce an approximate 1,078-1,240 million cubic feet natural gas per day from those wells, he added saying, the present gas deficit was about 500 mcf per day.