A parliamentary body has approved another four-year extension for the Speedy Supply of Power and Energy (Special Provision) (Amendment) Act 2014.
It was the second extension as the law, which was promulgated in 2010, got its first extension for two years in 2012.
The act would remain effective till December 31, 2018, said Tajul Islam, chairman of the Standing Committee on the Ministry of Power, Energy and Mineral Resources, at a press briefing in the parliament building on Sunday following a meeting of the committee.
“The move was needed to ensure continuation of the ongoing projects as well as completion of the unfinished ones. It would be tabled in the next session of the House,” he said.
Under the act, the government has already signed agreements on setting up the country’s first LNG terminal. Ten wells are currently being drilled, and more than 25 quick rental power plants along with two other independent plants are operating under the act.
Bangladesh Petroleum Corporation (BPC) Chairman Md Eunusur Rahman told the meeting that the BPC earned Tk40,835 crore in the fiscal year 2013-14 by selling petroleum products. “But we spent Tk43,312 crore to buy them, which means we incurred a loss of Tk2,477 crore. We deposited Tk4,525 crore with the government treasury during the same period,” he said.
The committee also asked the BPC to calculate losses and submit a report on the capsize of the oil tanker in the Sela River of the Sundarbans.