The government may soon adjust domestic fuel prices as soaring import costs continue to strain the national budget, Finance and Planning Minister Amir Khosru Mahmud Chowdhury announced Friday.

Speaking to reporters after an event at the Korean Export Processing Zone in Chattogram`s Anwara upazila, the minister acknowledged that persistently high global energy prices have created a "difficult reality" for the government, making price revisions increasingly likely.

"If the government continues purchasing fuel at elevated prices, it will deplete public funds and disrupt development and social safety net programs," Chowdhury stated. "At some point, a decision on price adjustment will be inevitable in the national interest."

The minister highlighted how the ongoing Middle East conflict has increased risks to oil and gas supply chains. While Bangladesh traditionally relies on imports from the region, the government has been forced to source fuel from alternative markets at higher costs to maintain supply stability.

Despite the financial pressure, Chowdhury emphasized that energy security remains a top priority. He assured that fuel supply across the country remains stable, with industrial production, transportation, and agricultural activities continuing without major disruptions.

To mitigate the strain, the government has already implemented austerity measures, including fuel rationing for ministers, members of parliament, and public officials.

Addressing the capital market, the minister revealed that major reforms are underway to restore investor confidence and encourage large investments to shift from banks to the stock market. This initiative aims to reduce pressure on the banking sector while stimulating economic growth.

Chowdhury also acknowledged challenges in key export sectors, noting that garments, agriculture, and textiles have been affected by the global economic slowdown. However, he expressed optimism about a potential recovery in the readymade garment industry and highlighted continued growth in remittance inflows as positive signs for the economy.

The finance minister`s comments come as Bangladesh grapples with the dual challenges of maintaining energy security while managing the fiscal impact of elevated fuel import costs. The government has been providing substantial subsidies to keep domestic fuel prices stable, but the sustainability of this approach is increasingly being questioned.

Market analysts suggest that any price adjustment would likely be carefully calibrated to balance economic realities with public sentiment, particularly given recent inflationary pressures. The government has previously faced criticism for fuel price increases, which can have cascading effects on transportation costs and overall living expenses.