Bangladesh Petroleum Corporation (BPC) has announced a cash reward for informants to help curb illegal hoarding and ensure a steady supply of fuel across the country. Individuals providing specific information about illegally stored or smuggled fuel can receive up to One lakh taka depending on the volume recovered.
The initiative was disclosed in a letter signed on Monday by BPC Chairman Md. Rezanur Rahman.
According to BPC, the reward system has been introduced to prevent illegal stockpiling and artificial fuel shortages in the market.
Under the scheme, rewards will be given in tiers based on the quantity of fuel identified. Informants will receive Tk 10,000 for information on 200 to 1,000 liters, Tk 25,000 for 1,001 to 2,500 liters, and Tk 50,000 for 2,501 to 5,000 liters. Information leading to the discovery of more than 5,000 liters will earn the highest reward of Tk 100,000.
BPC also assured that the identity of informants will be kept strictly confidential. After verification, the reward money will be disbursed through the respective Deputy Commissioner’s office via cheque.
Concerned officials noted that some unscrupulous traders are hoarding fuel to make excessive profits amid volatility in the global market, creating risks of artificial shortages and price hikes. To tackle the situation, BPC has introduced this reward system with support from local administration.
It is learned that the reward fund will be equally shared by BPC’s three marketing companies- Padma Oil Company Limited, Jamuna Oil Company Limited, and Meghna Petroleum Limited.
