The interim government is buying oil at 35 percent lower prices than before through open tenders. As a result, 370 crore rupees will be saved. During the previous government's tenure, the electricity sector was dominated by a few companies, so fuel was being bought at a higher price. Muhammad Fawzul Kabir Khan, Adviser on Power, Energy and Mineral Resources, said these things in a discussion meeting in the capital on Saturday (December 7).
The energy advisor said that consumers pay an average price of Tk 8.55 per unit of electricity, but the government buys it at Tk 12-25. While import of LNG costs Rs 70, it is being supplied to the industrial sector at the rate of Rs 30. The government has to pay this price difference as a subsidy. The government has to pay about 52 thousand crores of subsidy in the energy sector. This rate of per capita subsidy is about three thousand taka. This cost can be reduced by creating a competitive environment through open tendering.
He said these things in the speech of the chief guest at the seminar titled 'Affordable price of fuel and uninterrupted supply' organized by Dhaka Chamber of Commerce and Industry (DCCI) on Saturday.
The energy advisor said, 'Bhola has about 70 cmft of gas reserves, which will be called for open tender. Henceforth no tenders will be invited except through open competition in power and energy sector. Oil imports are available at 35 per cent lower prices than before due to open bidding, resulting in savings of Rs 370 crore. Merchant power plant system will be introduced instead of IPP in power sector. We need 4,000 cmfft of gas, although we have less than 3,000 and will have to increase our own gas production to meet the shortfall. 40 solar power projects will be advertised periodically and the land required for such projects will be allocated from the government.'
President of Dhaka Chamber Ashraf Ahmed said, 'Uninterrupted supply of fuel and affordable price should be ensured. In the last two decades, our fuel consumption has increased almost 4 times to 45 million tonnes of oil equivalent (TOE).' In order to meet the demand of fuel in the industrial sector, there is no alternative to import besides increasing production locally, he said, “We have to increase our capacity to use fuel.”
Professor of Petroleum and Mineral Resources Engineering Department of Bangladesh University of Engineering and Technology presented the main article in the seminar. Mohammad Tamim. He said long-term fuel pricing would not be practical, rather a three-to-five-year action plan would be more effective in this case.
Professor of Geology Department of Dhaka University Dr. Badrul Imam, former professor of Bangladesh University of Engineering. Ijaz Hossain, Vice Chairman of Confidence Group Imran Karim, President of Bangladesh Solar and Renewable Energy Association Engineer Md. Nurul Akhtar and many others gave speeches.
