"We have not taken any such decision, and neither do we have for the moment any plans to do so," sources quoted Mahmudur Rahman, adviser to the energy and mineral resources ministry, as telling a meeting of a parliamentary body.

The parliamentary standing committee on power, energy and mineral resources ministry also discussed the recent blowout at Tengratila Gas Field and asked the ministry to initiate steps to realise compensation for the damage.

In reply, Mahmudur Rahman told the committee that the government will form a panel comprising eminent lawyers to fight the legal battle for realising the compensation, Committee Chairman Shahidul Islam told reporters after the meeting held at the Jatiya Sansgad Bhaban.

Referring to media reports on a possible hike in oil prices, a ruling BNP lawmaker and member of the committee asked the adviser to clarify whether the government has decided to increase the price.

The lawmaker also told the meeting that unscrupulous traders have already increased the prices of oil following the newspaper reports.

"The adviser assured us that he will ask the ministry today to take stern actions against the crooked oil traders," Habibul Islam Habib, a member of the committee, told reporters, adding, "He also told us categorically that the prices of oil will not be increased."

Finance Minister M Saifur Rahman on Saturday at a high-level meeting hinted at a probable decision to increase the oil prices, saying Bangladesh Petroleum Corporation (BPC) had to borrow Tk 5,000 crore from the nationalised commercial banks as local petroleum price has not been adjusted to the global.

On whether the petroleum prices will be raised, Saifur referred to the present price of oil in the world market, which was $ 68 a barrel, and said the government will have to count $ 2 billion to import oil in the current fiscal year. Asked then if the government will raise the price, he said, "We have to review the situation very soon."

GAS FIELD BLOWOUT

The parliamentary body at yesterday's meeting expressed deep concern over the latest blowout at Tengratila, and condemned the previous government for awarding an 'inept' company like Niko Resources the bid for exploring gas.

The ruling BNP lawmakers and members of the committee blasted the previous Awami League government also for allowing the Canadian oil company to operate in Feni, Chhatak, and Kamta Gas Fields.

The energy adviser at yesterday's meeting in a report briefed the committee members on 'how those gas fields were awarded to Niko during the last AL rule'.

Referring to the content of the report, the committee members said they knew nothing about it before. "Now we are clear that the Awami League government had signed the agreements inappropriately," committee member Nazimuddin Alam told reporters.

However, the fact is, the present government had awarded the three gas fields to Niko after relaxing the conditions. The previous government had initiated steps to allow the company to extract gas from the three abandoned gas fields, but they could not succeed in the face of severe criticism.

"The alliance government had nothing to do as there was no way to violate the agreement which was already signed by the previous government," said BNP lawmaker Ilias Ali.

The energy ministry adviser told the meeting that they will start moving for the compensation claim by October after assessing the damage caused by the blowout.

"We could not realise compensation for the damage at Magurchhara Gas Field due to our weak performance in the legal battle. So, this time we will appoint expert lawyers to make sure we succeed," Mahmudur Rahman said.

The parliamentary body asked the Jamuna Group to install a central meter in its Gazipur plant so that the gas it consumes can be measured properly. "We have asked the ministry to stop supplying the company gas if it fails to install a central meter within a month," the committee chairman said.