energy
Bangladesh open to Qatar’s investment in energy sector: PM tells Doha Investment Summit
Prime Minister Sheikh Hasina on Monday (March 06, 2023) urged oil-rich Qatar to make investment in Bangladesh’s energy sector, especially in renewable energy.
“We remain open to investment proposals in our infrastructures and logistics sectors. We believe there is scope for Qatari investment in the energy sector, including in renewable energy,” she said.
The premier was addressing the Doha Investment Summit 2023 Titled ‘The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh’ held at Grand Ballroom of The St. Regis Doha.
She mentioned that Bangladesh could benefit from Qatar’s expertise in offshore gas exploration and energy distribution system.
Read more: PM Sheikh Hasina arrives in Qatar to join UN conference on LDCs
She urged the business people from Qatar to look at certain thrust sectors in Bangladesh and invited a delegation of Qatari business people to visit the country soon.
“I also urge the non-resident Bangladeshis based in Qatar to invest in Bangladesh. We need your participation in our nation-building efforts,” she said.
PM Hasina said that Bangladesh’s bilateral relations with Qatar should be readjusted based on a mutually beneficial economic partnership as there are immense untapped potentials.
“Bangladesh and Qatar are bound by strong brotherly ties and friendship. Our two nations need to reposition our ties based on a mutually beneficial economic partnership,” she said.
Read More: PM in Doha: LDCs need 5 key support from dev partners
She also put emphasis on setting up a Joint Committee on Trade and Investment and a Joint Business Forum to bring private sectors on a single platform.
“Our two governments should work on setting up a Joint Committee on Trade and Investment. There should also be a Joint Business Forum to bring our private sectors on a single platform,” she said.
She mentioned that Bangladesh’s agricultural growth also creates scope for cooperation in agro-processing industries, with buy-back arrangements to Qatar.
“We have plans to set up three special tourism zones, where Qatar can engage in both real estate and hospitality sectors,” she said.
Read More: PM meets Guterres in Doha, discusses Ukraine, Rohingyas
The PM said that Bangladesh aspires to have at least ten Unicorns in ‘Smart Bangladesh’, and country’s vibrant start-up scene is ready to draw Qatari investment.
In addition, she said, Qatari investors can consider portfolio investment in Bangladesh.
“Bangladesh Securities and Exchange Commission is working hard to further develop our capital markets. We have taken several steps to establish our bond market on a solid footing. We are soon going to include derivative products in our capital markets,” she said.
PM Hasina said that the disruptions in international fuel market due to the war in Ukraine have pushed countries like Bangladesh into a hard spot.
Read More: Energy-rich Qatar faces fast-rising climate risks at home
In order to meet the growing energy need, she said, Bangladesh is interested in increasing its LNG imports from Qatar.
She also requested Qatar to explore opportunities for increasing import of goods from Bangladesh.
She said that Bangladesh is now well on track to graduate from the UN LDC Group in 2026 which has been achieved by 168 million people through their hard work and commitment.
She said that just before the pandemic, country’s economy reached a growth rate of 8.15 percent, and even during the pandemic, it posted a growth rate of 6.94 percent.
Read More: PM urges South Korea for more investments in Bangladesh
She said that Bangladesh is now the world’s 35th largest economy with a GDP of USD 460 billion while projected to become the 24th largest by the first half of the 2030s.
“It was during my first tenure in 1996-2001 that our government fully opened up the door of trade and business for the private sector. Now our private sector is flourishing and our government is working as a facilitator. Together, we hope to take Bangladesh to the next level of development,” the PM said.
Sheikh Hasina mentioned that Bangladesh has one of the most liberal investment regimes in the region.
She mentioned that the incentives being offered include tax holiday, concessionary duty on machinery import, remittance of royalty, technical know-how and fees, allowing 100 percent foreign equity, unrestricted exit policy, full repatriation facilities of dividend and capital on exit, etc.
Read More: Eswatini wants trade, investment promotion with Bangladesh
“The Bangladesh Investment Development Authority (BIDA) is offering a number of services to foreign investors under one roof.”
She mentioned that the government is setting up 100 Special Economic Zones with coordinated facilities and there are so far five country-specific Economic Zones in the making.
“We are investing heavily in our infrastructures fit for a regional connectivity and logistics hub. Our mega-projects like the Padma Multi-purpose Bridge, the Karnaphuli river tunnel, the Matarbari Deep Sea Port, the expanded Third Terminal at Dhaka International Airport, the Rooppur Nuclear Power Plant, the Metro-rail system in Dhaka all testify to our determined march forward.”
Hasina mentioned that the government has already brought the entire nation under electricity and internet coverage while country’s first communication satellite Bangabandhu-I has opened up new horizons.
Read More: Bangladesh, South Africa discuss ways to boost trade and investment
“We have a large pool of easily trainable workforce available at a competitive wage<” she said, adding “Bangladesh has got the world’s second largest community of registered IT freelancers.”
She mentioned that Bangladesh has made big leaps in developing its digital backbone down to the remote areas. “Our boys and girls are preparing themselves to join the Fourth Industrial Revolution.”
She said that the government is gradually building 38 Hi-tech Parks, with opening for foreign investment.
She said that government’s vision now is to build a ‘Smart Bangladesh’ by 2041, drawing strength from a knowledge-based society.
Read More: It is high time to work together on more projects, investment areas: Chinese Envoy
“Bangladesh offers to be a willing partner in realizing the Qatar National Vision 2030. We can equip our workforce with knowledge and skills to cater to the advanced employment market in Qatar,” she said.
She reaffirmed her commitment to fulfill Bangabandhu Sheikh Mujib’s dream of building a ‘Sonar Bangla’ and said that she is confident the Qatari leadership and people will continue to stand by Bangladesh as they did in the past decades.
“I encourage our business peoples to keep adding new feathers to our excellent bilateral relations,” she said.
Chairman of Bangladesh Securities and Exchange Commission Prof Shibli Rubayat Ul Islam and Executive Chairman of Bangladesh Investment Development Authority (BIDA) Lokman Hosaain Miah made two separate presentations focusing on potentials of trade and investment in Bangladesh.
Read More: Bangladesh-Turkiye Business Forum launched to usher in new era of economic cooperation
Bangladesh Securities and Exchange Commission and Bangladesh Investment Development Authority (BIDA) in partnership with the Foreign Affairs Ministry arranged the event.
Rohingya response: Sweden announces $7.6m for energy, environment programme
At the end of a two-day visit to Rohingya refugee camps in Cox's Bazar, Swedish Ambassador to Bangladesh Alexandra Berg von Linde announced her country's latest contribution of $7.6 million for the energy and environment programme of the Rohingya response.
The contribution will support the provision of cleaner cooking energy to Rohingya refugees, the continued rehabilitation of ecosystems and the facilitation of enhanced skills development for refugees and Bangladeshi host communities.
These activities are part of the Safe Access to Fuel and Energy Plus, phase 2 programme (SAFE+2), a joint UN program which brings together the Food and Agriculture Organization (FAO), the International Organization for Migration (IOM), the UN Refugee Agency (UNHCR), and the World Food Programme (WFP).
"It has been impressive to see the positive impact that the SAFE+2 programme has had on Rohingya refugees and Bangladeshi host communities," said Alexandra.
"As a substantial amount of forest in the Cox's Bazar area had initially been impacted following the large Rohingya influx in 2017, it is good to see that through a programme like SAFE+2, the area around the Cox's Bazar refugee camps has largely been regreened and reforested."
"This contribution from the government and the people of Sweden will allow us to provide some 190,000 refugee households with liquified petroleum gas (LPG). This cleaner cooking fuel improves refugees' well-being and living conditions, as it reduces smoke inhalation and prevents gender-based violence and other protection risks related to the collection of firewood from forests," said Johannes van der Klaauw, UNHCR representative in Bangladesh.
"It will allow for a successful rehabilitation of the environment and ecosystems of the area and substantially reduce CO2 emissions."
The distribution of LPG and fuel-efficient cooking equipment enables an energy transition away from firewood and associated deforestation. The programme, including its phase 1 component, has so far prevented the emission of over 400,000 tons of carbon dioxide.
The programme's impact is being enhanced through replanting, reforestation, and the improvement of watersheds. The joint programme also supports the resilience of vulnerable refugees and host communities, through skills development projects related to environmental improvements and agriculture.
Sweden has supported the SAFE+ programme since it was first initiated in 2019 and then led by IOM. SAFE+2 was launched as a joint UN programme in July 2022, building on the successes and learnings from the first phase. The second phase of the programme is currently supported by the governments of Sweden and Canada.
As it has been close to six years since over 700,000 Rohingya refugees were forced to flee violence and persecution in Myanmar, the Rohingya situation in Bangladesh is now officially considered a protracted refugee situation.
Currently, some 920,000 Rohingya refugees remain hosted in densely populated camps in the Cox's Bazar area, with an additional 30,000 refugees living on Bhasan Char.
Read more: US Counselor Chollet due Tuesday; Rohingya issue likely to get priority
Retail gas prices hiked for power plants, industries and commercial users with effect from Feb 1
The government of Bangladesh has raised the retail gas prices for public, private and captive power plants and also for industries and commercial users with effect from February 1.
As per the new government announcement on Wednesday (January 18, 2023), the gas prices have been increased by almost three times for public and private power plants while almost double for captive power plants and industries, and significantly hiked for commercial users.
However, prices for household consumers, CNG-run for motor vehicles and tea estates were kept unchanged.
Read more: BERC (amendment) Ordinance placed in JS allowing adjustment of gas, electricity prices without public hearing
The Energy and Mineral Resources Division set the prices through a gazette notification issued on Wednesday applying the new amendment to the Bangladesh Energy Regulatory Commission (BERC) Act, which empowered the government to set all kinds of energy prices bypassing the regulator’s jurisdictions at any time.
As per the gazette notification, the public and private power plants including the IPP and rental power plants will pay gas price at Tk 14 per unit (each cubic metre) instead of previous price of Tk 5.02 while the captive power plants, small power plants and commercial power plants will pay Tk 30 per unit instead of previous price of Tk 16.
The large, medium and small industries will pay Tk 30 per unit against the previous price of Tk 11.98 for large, Tk11.78 for medium and Tk 10.78 for small, cottage and other industries.
Read more: Pay production cost to get smooth supply of gas, electricity: PM Hasina tells industries
The commercial users of gas like hotels and restaurants will pay Tk 30.50 instead of previous Tk 26.64 per unit.
The household consumers will continue to pay Tk 18 per unit for metered burners while Tk 990 for single burners and Tk 1080 for double burners each month.
The CNG price remained unchanged at Tk 43 for the motor vehicles, while tea estates will pay Tk 11.93 per unit as usual, said the gazette notification.
Read More: New gas found in Bhola field amid crisis
Earlier, the BERC had raised the average gas price by 22.78 percent for the retail consumers, except for CNG-run vehicles, in the country with effect back from June 1 in 2022.
Japan reverts to max nuclear power to tackle energy, climate
Japan on Thursday adopted a new policy promoting greater use of nuclear energy to ensure a stable power supply amid global fuel shortages and to reduce carbon emissions — a major reversal of its phase-out plan since the Fukushima crisis.
The new policy says Japan must maximize the use of existing nuclear reactors by restarting as many of them as possible and prolonging the operating life of old reactors beyond their 60-year limit, and by developing next-generation reactors to replace them.
Anti-nuclear sentiment and safety concerns rose sharply in Japan after the 2011 Fukushima disaster, and restart approvals have since come slowly under stricter safety standards. Utility companies have applied for restarts at 27 reactors in the past decade. Seventeen have passed safety checks and only 10 have resumed operations. That was in line with Japan's earlier plan to phase out nuclear energy by 2030.
In a reversal, the new policy says nuclear power provides stable output and serves “an important role as a carbon-free baseload energy source in achieving supply stability and carbon neutrality” and pledges to “sustain use of nuclear power into the future."
The Economy and Industry Ministry has drafted a plan to allow extensions every 10 years for reactors after 30 years of operation, while also permitting utilities to subtract offline periods in calculating reactors’ operational life beyond the current 60-year limit.
The plan was approved on Wednesday by the Nuclear Regulation Authority, Japan's nuclear watchdog, paving the way for the policy to be adopted. New safety inspection rules still need to be compiled into law and approved by Parliament.
Read more: Policy, climate, war make 2022 'pivot year' for clean energy
Most nuclear reactors in Japan are more than 30 years old. Four reactors that have operated for more than 40 years have received permission to operate, and one is currently online.
The policy paper says Japan will also push for the development and construction of “next-generation innovative reactors” with safer features to replace about 20 reactors now set for decommissioning.
Thursday’s adoption of the new policy comes less than four months after Prime Minister Fumio Kishida launched the “GX (Green Transformation) Implementation Council” of outside experts and ministers to “consider all options” to compile a new policy that addresses global fuel shortages amid Russia’s war on Ukraine and seeks to achieve carbon neutrality by 2050.
The council also adopted plans to make renewables Japan's main energy source and further promote hydrogen and ammonia as well as off-shore wind power and other forms of energy to promote decarbonization, supply resilience and economic security.
The regulation authority’s commissioner, Shinichi Yamanaka, told a news conference the new safety rules requiring operational permits every decade after 30 years will be safer than a current one-time 20-year extension option for 40-year-old reactors.
Takeo Kikkawa, an economics professor at the International University of Japan and an expert on energy, said utility operators under the new policy could keep using old equipment instead of investing in new technology or renewables. He also said prolonging the operational life of old reactors is unsafe.
“Naturally, we should aim for newer technology and use it safely. Therefore, extending reactors' lifespans is an undesirable move,” Kikkawa recently told a talk show.
Read more: UN climate deal: Calamity cash, but no new emissions cuts
The new policy does not help address imminent supply shortages because reactors cannot be restarted as quickly as the government hopes due to operators' delayed safety upgrades and other obstacles including local consent, experts say.
Nuclear energy accounts for less than 7% of Japan’s energy supply, and achieving the government's goal of raising its share to 20-22% by fiscal 2030 will require about 27 reactors, from the current 10 — a target some say is not achievable.
Experts say developing next-generation reactors involves huge costs and uncertain prospects.
Kenichi Oshima, a Ryukoku University professor of environmental economy and energy policy, said some of what the government calls “innovative” reactors are not so different from existing technology and that prospects for nuclear fusion and other next-generation reactors are largely uncertain and not achievable anytime soon.
The regulation authority came under fire Wednesday after revelations by a civil group that a few of its experts had discussed details with industry ministry officials before the watchdog was officially asked to consider a rule change, despite their compulsory independence.
Despite the failure and closure of the Monju plutonium-burning reactor, Japan insists on continuing with spent-fuel reprocessing at the trouble-prone Rokkasho plant and nuclear fuel recycling, which has created a stockpile of excess plutonium and drawn international concerns over its nuclear safeguards. The Rokkasho plant recently announced its 26th postponement of its launch target to 2024 from 2022.
Opponents say nuclear power is not flexible and not even cheaper than renewables when final waste management and necessary safety measures are added, and that it can cause immeasurable damage in an accident or in conflict, as in Russia’s attacks on a Ukrainian nuclear plant.
Ruiko Muto, a survivor of the Fukushima disaster, called the new policy “extremely disappointing.” She added: “The Fukushima disaster is not over yet and the government seems to have already forgotten what happened.”
PMO collecting data to tackle energy crisis in next summer
Bangladesh Prime Minister’s Office (PMO) has been collecting necessary information and data from two divisions and their associate bodies in the power and energy sector to make some policy decisions on power, gas, and petroleum prices.
According to official sources, the PMO will soon reconvene a recently postponed meeting to discuss the issues where dealing with a tough possible situation in the coming summer might top the agenda.
They said that the PMO had convened a meeting on December 15 to discuss the overall situation in the power and energy sector.
“But at the last moment, the meeting was postponed”, said a top official in the Power Division adding that a new principal secretary to the Prime Minister and also a new cabinet secretary took office on the day for which the meeting was postponed.
Read: Dhaka seeks Riyadh's support to meet energy needs
“We hope the suspended meeting will be called soon where the two top bureaucrats may attend”, he said.
The issue of power tariff enhancement in the retail consumer level will get a top priority in the proposed meeting”, said a senior official of the largest organisation in the power sector, preferring not to be quoted because of its sensitivity.
Power Cell director general Mohammad Hossain said that his organisation has also provided necessary data to the PMO and the Power Division as per their requirements.
Official sources said the PMO is collecting data and information against the backdrop of the government’s plan to increase power tariff at retail consumer level to cover a huge flaw in the power sector’s revenue collection.
Read: Ensuring access to electricity at an affordable cost is govt’s prime goal: PM’s Energy Advisor
Because of the purchase of electricity from the private sector at higher rates and sell it to consumers at lower rates, the loss of Bangladesh Power Development Board (BPDB), state-owned principal organisation, was estimated to be Tk 48,000 crore in the current fiscal year 2022-23.
The officials said the recent hike of about 20 percent in bulk power tariff, effective from December 1, might reduce the loss by only Tk 5000 crore.
To cover the remaining loss, all the six distribution companies were asked by the Power Division to submit their respective proposals to the Bangladesh Energy Regulatory Commission (BERC).
They already submitted a proposal to the BERC to increase the retail power tariff by about 20 percent.
Read: Cabinet approves amendment to let govt decide energy price without BERC
But the BERC needs to follow a public hearing to take any decision on the issue and the whole process needs about 90 days while the government is in urgent need to increase the retail power tariff.
In such a situation, the Cabinet on November28 approved an amendment to BERC Ordinance 2022 to empower the government to set fuel tariff on its own under special circumstances without waiting for the commission’s public hearing and decision.
Now the BERC is in a dilemma whether it will move to hold a public hearing to adjust retail power tariff or the government on its own takes decision on retail power tariff enhancement.
Officials said the PMO office wants to learn about the entire situation so that it can give an instruction to the Power Division to take the future decision.
Read More: Mitsubishi Power to continue support Bangladesh power industry amid growing energy need
The officials also said that a directive is also expected from the PMO meeting to tackle the situation in the next summer, which normally starts from February 15 with an extra load in power supply.
Normally an extra load of about 3000 MW in power supply is assumed to be coming from the agriculture irrigation sector in the coming summer, which may continue until May next year.
The fasting month of Ramada, which will begin from the first week of April next year will also put another load of 3000 MW.
But due to the primary fuel crisis, the government is under pressure to increase the power generation and a big deficit is apprehended in the coming year, officials said.
Read More: Europe can’t put its energy needs first while requesting India to act otherwise: Jaishankar
All these issues are expected to be discussed in the PMO meeting where the State Minister and the PM’s energy advisor are likely to be present, they said.
Prime Minister Sheikh Hasina at a meeting recently said that the government supplies electricity to everyone at subsidised prices though the production cost is much higher.
But it will not be possible to provide electricity at lower prices considering the global recession, she said.
"The actual cost will have to be paid," she said, adding that the price of gas has increased in the international market.
Read More: Bulk power tariff hike won’t affect retail consumers right now: Nasrul Hamid
"Everyone, including businessmen in the country, will have to exercise austerity and will have to be ready to pay the money spent on the (increased) price of gas and transport cost. Otherwise, we will not be able to provide electricity. If you want (electricity), you will have to pay the real prices," she added.
The PM said costs of electricity, gas, water, and fuel can be reduced by exercising austerity.
Currently, the installed power generation capacity of Bangladesh is over 25,000 MW while the generation was limited to 12,000 MW because of the primary fuel crisis.
Mitsubishi Power to continue support Bangladesh power industry amid growing energy need
Mitsubishi Power, a leading Japanese brand in power system solutions, has expressed commitment to continue its support for Bangladesh’s power industry.
"Together with our valued partners and customers, we are committed to supporting Bangladesh in realising its energy needs and achieving net zero emissions,” said Osamu Ono, Managing Director and Chief Executive Officer, Mitsubishi Power Asia Pacific, while addressing a 2-day Gas Turbine Technical Seminar in the city on Sunday.
Mitsubishi Power, the power solutions brand of Mitsubishi Heavy Industries, kicked off its two-day (December 11-12) event aimed at discussing the latest solutions and services in the power generation industry to advance energy security and decarbonisation.
Power secretary Habibur Rahman, Bangladesh Power Development Board (BPDB) chairman Md Mahbubur Rahman and Deputy Chief of Mission of Japan Embassy in Dhaka Machida Tatsuya also addressed the function.
Osamu Ono said Bangladesh was the first Asia-Pacific country where Mitsubishi Power successfully delivered a steam turbine back in 1960.
Read: Mitsubishi Power wins Asian Power Award 2020
"Since then, we have remained committed to our mandate and today, are responsible for approximately 20 percent of Bangladesh’s total energy production", he said.
The country has immense potential for growth, fueled by progress in its power sector, he added.
The event, attended by around 200 government representatives, industry leaders and local partners, includes dedicated user sessions and presentations by Mitsubishi Power’s technical experts that deep dive into Mitsubishi Power’s industry leading solutions and services – from decarbonisation technologies such as hydrogen and ammonia co-firing, to enhancement of the reliability and performance of gas turbines.
Addressing the event Habibur Rahman said that after achieving the target of 100 percent electricity supply across the country, now the transitional goal is to ensure affordable, better quality and uninterrupted power supply to all.
He hopes that Mitsubishi Power will be with them in achieving the target of 40,000 megawatt of power generation by 2030.
He also highlighted interest in hydrogen technology, citing Bangladesh's ‘Mujib Climate Prosperity Plan’ that seeks cleaner, renewable energy sources such as green hydrogen and blue hydrogen.
Read: Mitsubishi Power to Establish Hydrogen Power Demonstration Facility
BPDB chairman Mahbubur Rahman appreciated Mitsubishi Power for partnering with Bangladesh for more than two decades and helping the country in achieving long-term power supply.
Bangladesh has started hydrogen-based power generation, which will play an important role in reducing carbon emissions.
He expressed hopes that through this, Mitsubishi Power will play a special role in strengthening the partnership with the government towards achieving the country’s energy needs and the goal of zero carbon emission.
It was told that Mitsubishi Power’s gas turbines support Bangladesh’s power grid at five power plants across the country.
Its M701F gas turbine was installed in Haripur as the first large-class gas turbine in Bangladesh and one of the most efficient and reliable in the country since 2014.
These power plants are complemented by after-sales and operations and maintenance services to ensure that plants remain efficient and support a constant supply of electricity across the country.
Europe can’t put its energy needs first while requesting India to act otherwise: Jaishankar
With the G7 price ceiling on Russian crude oil at USD 60 per barrel taking effect, India on Monday (December 05, 2022) vehemently defended its acquisition of crude oil from Russia during the ongoing Ukraine war – claiming that New Delhi’s purchase was just one-sixth of the European buy in the previous nine months.
At a press conference following lengthy discussions with the visiting German foreign minister Annalena Baerbock, Indian External Affairs Minister S Jaishankar said that Europe cannot decide to put its energy needs first while requesting New Delhi to take another action, claiming that talks between India and Russia to increase trade began long before the war in Ukraine, NDTV reports.
Jaishankar said: “I understand that there is a conflict situation (in Ukraine). I also understand that Europe has a point of view and Europe will make the choices it will make that is Europe’s right. But for Europe to make choices which prioritises its energy needs and then ask India to do something else…”
Read: Russian oil shipments to central Europe expected to resume
Jaishankar also said that pressure on pricing is also being exerted by Europe’s purchases of Middle Eastern crude oil.
The Indian foreign minister commented, “And bear in mind, today, Europe is buying a lot (of crude oil) from the Middle-East. The Middle-East was traditionally a supplier for an economy like India. So it puts pressure on prices in the Middle-East as well. We have been very very understanding of the European choices and European policies.”
He was quoted by NDTV as saying: “I think first we need to establish the facts very clearly. Between February 24 and November 17, the European Union has imported more fossil fuel from Russia than the next 10 countries combined. The oil import in the European Union is like six times what India has imported. Gas is infinite because we do not import it while the European Union imported 50 billions Euros worth (of gas).”
Read: Bangladesh may prefer to import Russian oil via third country
While pledging to further cooperate in the areas of defence and security, commerce, climate change, and renewable energy, the two foreign ministers also signed a bilateral mobility agreement that would make it simpler for individuals to study and work in each other’s countries.
The German foreign minister stated at the joint news conference that China has changed significantly in recent years and “the whole region can see this and feel this”, in reference to the country’s “growing aggressiveness”.
Baerbock, who was in India for a two-day visit, also promised to shorten the wait time for visas. The talks also touched on Pakistani cross-border terrorism, the situation in Afghanistan, and developments in the Indo-Pacific, according to the NDTV report.
Read: Fuel import from India through pipeline to start from 2023: PM
Russian oil imports into India have significantly increased during the past few months. According to New Delhi, it is its essential responsibility to make sure that Indian consumers have the greatest possible access to the worldwide markets on the most favourable conditions.
Bulk power tariff hike won’t affect retail consumers right now: Nasrul Hamid
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that right now, the bulk power tariff hike will have no impact on the masses.
“BERC (Bangladesh Energy Regulatory Commission) will examine whether it will have any impact on retail consumers in future,” he told reporters.
Nasrul Hamid made the remark while talking to reporters at his ministry on Monday, following the announcement made by BERC to raise bulk power tariff by 19.92 percent with effect from December, 2022.
Read: Tk 1893 crore unpaid as electricity bill by govt ministries, departments, Nasrul Hamid tells JS
As per the announcement, the bulk power price will go up to Tk 6.20 per kilowatt hour (each unit) from previous Tk 5.17.
Nasrul Hamid said the government wants to ensure uninterrupted power supply to consumers. “That’s why power tariff adjustment was needed,” he added.
Earlier, Nasrul Hamid said that the power distribution entities are preparing their proposals to submit to BERC – seeking a hike in the electricity tariff at retail level.
Read: Nasrul Hamid now hopes power supply situation will improve from Nov
Won’t suffer much from electricity crisis from next month: PM
Prime Minister Sheikh Hasina on Saturday said the people will not suffer much from electricity supply crisis from next month.
“Due to the war in Ukraine, it is difficult to buy fuel and bring gas. Attention is being drawn to saving energy not only in our country, but also everywhere --England, America and Germany. They’re struggling (to ensure power supply). So, we also had to suffer for some days. Inshallah, perhaps there would be no such sufferings from next month,” she said.
Hasina, also the President of Bangladesh Awami League, said this while chairing a meeting of her party's advisory council at her official residence Ganabhaban.
The PM called upon everyone to exercise austerity in using fuel and water. “You’ll have to be frugal. Because, the whole world faces economic recession. We’re not free from its impacts,” she said.
She reiterated her call to increase food production and not leave even a single inch of land uncultivated as the global economic situation is very bad. “The situation is terrible,” she said.
Read: Grow more food, keep enough stock to avert any crisis: PM Hasina
“If we can increase our own production, we will never face the heat of famine in Bangladesh,” she added.
Talking about providing food to the poor at subsidised prices, she said, "We are buying all the things at high prices, but providing these to the people at lower prices so that none suffers from lack of foods."
Mentioning that Awami League works for the welfare of people, Hasina said “Our work is for the welfare of all people….We didn’t come here to make our own fortune, rather we are building the destiny of the people of Bangladesh.”
No real democracy before AL comes to power:
Hasina said the people didn’t enjoy the true democracy and democratic rights in the country before Awami League came to power.
“The people of this country didn’t have real democracy or democratic rights before Awami League came to power. Since AL assumed the government, we started the democratic process,” she said.
"The transparency and accountability were ensured in the election, which came as outcomes of our (AL) movement and struggle," she added.
The PM said all political parties are getting chance to do politics during the AL regime.
“We’ve ensured such scopes,” she said criticising BNP for unleashing electoral irregularities and misrules during its past regimes.
She said now Bangladesh is recognised as a role model for development all over the world although some people of the country don’t see any development.
Read: Expedite implementation of Kuwait’s proposed petroleum refinery in Bangladesh: PM
“They don't like anything. They won’t like this democratic government as well. If any undemocratic thing took place (undemocratic government comes in power), their value goes up,” she added.
She said Bangladesh is moving forward and has attained the dignity again in the world because democratic trend continues since the 2008 election.
Bangladesh seeks Brazilian investment in energy, infrastructure, ICT sectors
Foreign Minister Dr AK Abdul Momen has invited Brazilian investors to invest in the energy, infrastructure and ICT sectors in Bangladesh.
He said Bangladesh is the largest manufacturing hub in the region.
Foreign Minister Momen said Bangladesh and Brazil have so many similarities but the trade volume is still to grow more.
The issues were discussed when newly appointed Ambassador of Brazil to Bangladesh Paulo Fernando Dias Feres met the Foreign Minister at the Ministry of Foreign Affairs on Thursday.
Foreign Minister Momen welcomed the new Brazilian Ambassador to Bangladesh and congratulated him on the 50th anniversary of diplomatic relations with Brazil.
Read more: EU announces € 3m for Rohingyas in Bhasan Char
He also congratulated the newly elected President of Brazil Luiz Inácio ‘Lula’ da Silva for his remarkable victory.
The Foreign Minister said Bangladesh looks forward to working with the new administration to further strengthening the political and trade relations.
Momen invited newly elected President Luiz Inácio ‘Lula’ da Silva to visit Bangladesh next year at a mutually convenient time.
Read more: UN expert urges Bangladesh to step up efforts to prevent trafficking
He highlighted Bangladesh’s interest in importing sugar, soybean oil and high breed milking cows from Brazil.
Momen also expressed hope that Brazil would facilitate Bangladesh’s initiative to have preferential trade agreement with the MERCOSUR countries.
The Foreign Minister said at present developing countries do not have any effective international forum for greater cooperation.
He opined that the developing countries like Brazil, Bangladesh and other like-minded developing countries can form an organisation for southern countries for better supply chain management, information sharing and shared economic development.
Brazilian Ambassador Feres appreciated the idea and expressed his country’s keen interest to work with Bangladesh closely on the issues of mutual benefits.
He appreciated Bangladesh’s economic strides in the recent years and sought government’s cooperation during his tenure in Dhaka.
Both sides also discussed the issues of mutual cooperation and reciprocal supports in the multilateral forum.