The government has begun work on achieving five key milestones to secure Bangladesh's energy future, with a strong push toward renewable energy and reducing dependence on imports, said Prime Minister's Adviser on Finance and Planning Rashed Al Mahmud Titumir recently.
Speaking at a dialogue titled "Renewable Energy in the Upcoming Budget: Expectations and Reality" organized by think tank Centre for Policy Dialogue (CPD) at a city hotel, Titumir said the country's energy sector had long been surrendered to oligarchs under import-dependent policies that left Bangladesh economically vulnerable.
The adviser outlined five priority milestones guiding the government's energy roadmap:
First, the upcoming budget will allocate greater resources toward renewable energy which he described as the sector's top priority.
Second, energy pricing will be aligned with consumers' income levels.
Third, a new policy framework will be developed to encourage the uptake of renewable energy, with a view to moving from import dependence toward self-sufficiency.
Fourth, domestic gas exploration will resume. "Bangladesh will restart gas field exploration. Only relying on foreign agencies will not be allowed. Steps have already been taken to strengthen state-owned BAPEX to build domestic capacity," the adviser said.
Fifth, minimum fuel reserves will be maintained across all energy sources. "There was never any concept of strategic reserves in this sector. The government is now paying serious attention to that," Titumir said.
