Govt to permit private sector to import oil, gas: Nasrul

The government is planning to allow independent power producers to import fuel oil and gas directly into Bangladesh to meet the local demand.

The decision will put an end to the monopoly of the state-owned petroleum company on importing fuel oil and gas.

The country’s private sector can import oil and gas if it wants, State Minister for Power, Energy and Mineral Resources Nasrul Hamid, said on Saturday.

While addressing a programme at Bidyut Bhaban organised by the Forum for Energy Reporters of Bangladesh (FERB), Nasrul said that electricity will not be generated from diesel-based power plants in the county from next June.

Claiming that the generating of electricity by using diesel is one of the most expensive processes, the state minister said the government is planning to go for a complete shutdown of electricity production from the diesel-run power plants.

Besides, the government has decided to allow private companies to import fuel oil and gas to meet prevailing power and energy shortages in the country, he said.

Earlier in July, the authorities suspended operations of diesel-run power plants in a bid to save dollars against the backdrop of increasing oil and liquid gas prices in the international market.

But, the government was forced to stand aside from the move in the face of frequent load-shedding that plagued the country’s goods production and daily lives into severe disruption.