Dhaka: Adviser to the Ministry of Power, Energy and Mineral Resources, Muhammad Fouzul Kabir Khan, emphasized the need for promoting competitive practices in the power and energy sector to ensure energy security in Bangladesh. Speaking at a seminar titled “Power and Energy Scenario in Bangladesh: Ensuring Energy Security for Development,” organized at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Bhaban in Motijheel, he highlighted the ministry’s efforts in this direction.
According to Bangladesh Sangbad Sangstha, Fouzul identified the lack of competition as a major issue in the power and energy sector. He noted that since the interim government took office, initiatives have been undertaken to introduce competition, including open tenders for basic energy procurement, allowing for competitive pricing. He called for cooperation from all stakeholders, including businesses, to support these efforts.
Fouzul also revealed the significant subsidies in the sector, with Taka 32,000 crore allocated annually to the power sector and Taka 20,000 crore to the energy sector. He criticized previous governments for neglecting the development of basic energy, which has adversely impacted the entire energy sector.
Md. Hafizur Rahman, FBCCI Administrator, presided over the seminar and stressed the importance of large-scale excavation of coal and gas wells to ensure energy security. He also highlighted the need to control system losses in electricity and gas, adopt cost-effective energy strategies, reduce import dependence, and enhance opportunities for the private sector to import LNG from the spot market. Additionally, he advocated for reducing reliance on single energy sources and increasing the use of renewable energy.
Dr. M Shamsul Alam, Energy Adviser of the Consumers Association of Bangladesh, pointed out the necessity of enhancing the capacity of the Bangladesh Energy Regulatory Commission (BERC) and implementing necessary reforms to ensure energy security. Md. Alamgir Morshed, Executive Director and CEO of Infrastructure Development Company Limited (IDCOL), emphasized the need for renewable energy production to achieve affordable and accessible energy.
Khandker Md. Abdul Hye, Chairman of the Sustainable and Renewable Energy Development Authority (SREDA), suggested that net metering solar systems could provide substantial benefits. The seminar was attended by former FBCCI directors, supporting committee members, and business leaders, including Abdul Huq, Giasuddin Chowdhury (Khokon), FBCCI Secretary General Md. Alamgir, and FBCCI Safety Council Adviser Brig. Gen. (Retd.) Abu Nayeem Md. Shahidullah.