Govt offers up to Tk 1 lakh reward for information on illegal fuel hoarding

The government has announced a reward of up to Tk 100,000 for individuals providing information on illegal hoarding and smuggling of fuel oil, amid growing concerns over supply disruptions and price manipulation.

In a statement issued today, the Energy and Mineral Resources Division said the decision was taken to ensure the proper distribution of imported fuel at government-fixed prices.

Authorities have observed instability in global fuel supply and market management due to the ongoing situation in the Middle East. The surge in international fuel prices has reportedly encouraged a section of unscrupulous traders to hoard fuel illegally and sell it at inflated prices instead of distributing it through authorised channels, the statement said.

Field administration has already taken action against several such syndicates, but the tendency has increased at an alarming rate, it added.

In response, the Bangladesh Petroleum Corporation (BPC) has decided to introduce financial incentives for informants. Individuals providing credible information on illegal fuel stockpiling will receive up to Tk 1 lakh as a reward.

The identity of informants will be kept confidential, and the respective deputy commissioners will ensure the disbursement of the reward.

The incentive scheme will be open to all individuals, institutions and organisations.

The government has also initiated steps to implement the measure in coordination with district administrations, aiming to maintain an uninterrupted supply of fuel at consumer level and prevent artificial shortages caused by hoarding and smuggling.