Dhaka, June 23 -- Bangladesh Petroleum Corporation (BPC) is incurring losses of around Tk 7.8 billion every day. From March to June 11, the total loss of BPC stood at Tk 17,039.56 crore in terms of settling letters of credit (LCs) for imported fuel oil.

Energy and Mineral Resources Minister Iqbal Hasan Mahmud disclosed the information on Monday while responding to a question from Satkhira-2 constituency lawmaker Muhammad Abdul Khaleque during the question-answer session in Parliament. The written responses were placed with Speaker Hafiz Uddin Ahmed in the chair.

The minister said fuel oil prices in the international market started declining slightly from May, but the prices are still higher than the operational costs. As a result, BPC i...