ADB wants energy subsidy cut to support safety net scheme
The government should partially withdraw energy subsidy to divert the money to public spending on safety net for the vulnerable groups, said the top official of the Asian Development Bank in Dhaka on Sunday. Under-pricing of energy sources, including fuel and gas, results in a huge deficit in the government's budget and multilateral lending agencies have time and again recommended upward adjustment of prices to reduce losses incurred by agencies like the Bangladesh Petroleum Corporation.