B Mirror Report: Amir Khasru Mahmud Chowdhury today said the recent adjustment in domestic fuel prices was due to global market volatility, not any conditions imposed by the International Monetary Fund.

Speaking to reporters at the Finance Ministry, he said the government delayed the price hike as long as possible to protect citizens, despite mounting pressure on national funds.

The minister noted that fuel prices have surged globally, citing significant increases in countries like the United States and Sri Lanka. He stressed that the decision to raise prices was taken independently to manage the upcoming budget and ease pressure on the national treasury.

“We have increased it by a very negligible amount compared to the rest of the world,” he said, adding that the move was necessary to sustain ongoing economic programmes.

On international cooperation, he described engagements with the World Bank and the Asian Development Bank as part of a continuous process. He reiterated that the government would not accept any conditions that harm public or business interests.

The minister also said the current IMF programme, initiated under a previous administration, is expected to conclude within six to seven months.

Addressing inflation concerns, he said fuel prices are only one component, noting that overall inflation largely depends on supply and demand. He added that maintaining adequate fuel reserves would help minimise the impact on the people.

He expressed optimism about continued international support, mentioning upcoming visits by leaders of the World Bank and ADB. He also highlighted that social initiatives like the ‘Family Card’ have received praise from global partners for supporting grassroots economic development.