19th October 2017
EP Report

The government is likely to extend the time limit for using Islamic bond in power sector to a 9-month period with a view to injecting more funds for generating 60,000MW electricity by 2040.

The power division formed a high powered committee, led by an additional secretary of finance division, to review the proposal. The committee has recently given its consent to extend the time period from six months to nine months to facilitate investment in power sector.

The power division now plans to utilize the fund amounting to Tk 4,044 crore, generated from Islamic bond, for development of power generation and upgrading transmission and distribution systems. Till July, 2017, the amount of money under the fund stood at Tk 8,814 crore.

Of the amount, the government has invested Tk 4,770 crore. The power division will utilize the rest amount of Tk 4,044 crore.

The Power Division requested the Internal Resources Division (IRD) for review of the Public Debt Act 1994 to facilitate long term use of the fund for power generation. 


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