Agriculture Minister Dr Muhammad Abdur Razzaque said as the electricity price has not increased, there will be no hike in the cost of electricity-powered irrigation.
But he added, "There will be some impacts on agriculture as a whole. The agricultural production will not decrease, but farmers’ profits will decline. Due to the current world situation, we all have to deal with it jointly even if it’s a little hard.”
The government has been forced to increase the fuel prices to keep the country’s economy stable and comfortable amid the global economic instability, the minister said, adding that if the fuel price in
the international market falls further, the price will also be reduced in the country.
“Oil prices have increased slightly in the country. International crises, including the Russia-Ukraine war, are responsible for this. Due to the crises, the economies are in turmoil all over the world. To deal with this unrest in the country, the government has been forced to increase the prices of fuel,” said the minister.
“If we give so many subsidies on fuel, our foreign reserves will dwindle a lot then the whole nation will be under threat. Better to be careful now. Being careful and accepting a little trouble temporarily, we can prevent the country from being at risk,” he said.
Razzaque said the government also increased the price of fuels to reduce the consumption of fuel. He said this will help the country stay afloat and avoid a disaster like Sri Lanka.