Adviser to the Ministry of Power, Energy and Mineral Resources Muhammad Fouzul Kabir Khan on Saturday said his ministry has been giving special importance in promoting practices of competition in the sector to ensure energy security in the country.
He made this statement while speaking at a seminar titled "Power and Energy Scenario in Bangladesh: Ensuring Energy Security for Development" organized at Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Bhaban in the capital’s Motijheel area.
Fouzul said that the main problem of the power and energy sector in the country was the lack of competition in it.
“Since the interim government assumed office, we have been striving to establish competition in the power and energy sector,” he said, seeking cooperation from all stakeholders, including businessmen.
He mentioned that steps have already been taken to procure basic energy supplies through open tenders, allowing the opportunity to purchase energy at competitive prices.
The adviser further said that the annual subsidy in the country’s power sector amounts to approximately Tk32,000 crore, while the annual subsidy in the energy sector is about Tk20,000 crore.
Sharing this information, he added that the development of basic energy infrastructure in the country had been neglected during the tenures of previous governments.
“This neglect has impacted the entire energy sector, including the power sector,” he said.