United Commercial Bank (UCB)

Dhaka, Thursday


18 August 2022


Business Insider Bangladesh

Agriculture, industries top priority for fuel supply: Energy adviser

BI Report || BusinessInsider

Published: 16:49, 4 August 2022   Update: 21:02, 4 August 2022
Agriculture, industries top priority for fuel supply: Energy adviser

Tawfiq-e-Elahi Chowdhury. Photo: File

The government is prioritising enough fuel supply to agriculture and manufacturing sectors amid an energy crisis in the country, Tawfiq-e-Elahi Chowdhury, prime minister’s power, energy and mineral resources affairs adviser, has said.

Chowdhury was speaking at a programme arranged by the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) in Dhaka on Thursday.

The programme was held on the occasion of the upcoming “Energy Security Day” on August 9.

He said, “We have to do everything to keep agriculture production and manufacturing alive with enough fuel supply.”

He urged countrymen to understand the current geopolitical situation and its effect on the global energy sector. “Everyone has to sacrifice during this global adverse situation.”

The energy adviser further added that the government is also trying to keep balance in providing fuel to homes and industries.

Also present at the programme, Prime Minister’s Principal Secretary Dr Ahmed Kaykaus hinted that the government is considering more usage of coal-based power plants to avert the ongoing energy crisis.

He said, “Environmentalists keep silent when Germany uses coal-based electricity during its energy crisis. But they always oppose such plants at home.”

At the event, FBCCI President Jasim Uddin asked the government for low-cost fuel. He also thinks that the government should go for long-term coal-based energy.

Jasim Uddin said that coal-based fuel can be produced through the use of high technology without destroying the environment. “Neighbouring India meets a large portion of its energy needs from coal-fired power.”

Calling for strengthening BAPEX (state-owned gas field exploration company), he informed that foreign companies are supposed to meet only 30 percent of the gas needed in the country, while the rest should come from BAPEX.

“But we are getting the opposite. foreign companies are giving more than 70 percent. This gap needs to be narrowed down and load shedding rationed,” he added.

Prof Ijaz Hossain in his keynote presentation said the demand for gas and LNG will increase 50 percent both in households and industries by 2030. Also, by 2030, the price will be Tk 28 per cubic meter which is now at Tk 12.

Furthermore, the share of energy usage in the country will change to gas at 80 percent and LNG at 20 percent.

When the use of LNG increases by 80 percent, the price will be Tk 40 per cubic meter, he mentioned.

Prof Ijaz Hossain suggested that the exploration of the local gas and coal be boosted to secure energy supply to the industry.

Nagad
Monetary Policy Stance
Budget 2020-21