The government is implementing multiple measures to reduce system loss in the power sector and maintain stable electricity tariffs, said Iqbal Hassan Mahmood, Minister for Power, Energy and Mineral Resources.
He made the remarks while addressing the inauguration ceremony of the newly elected Executive Committee of the Forum for Energy Reporters Bangladesh (FERB), held at the conference room of the Ministry of Power and Energy in the capital.
The minister stated, “If we can reduce system loss in the power sector, it will be possible to keep electricity tariffs stable.”
He noted that the current system loss in transmission and distribution stands at approximately 10 percent. For every 1 percent of system loss, the power sector incurs a financial loss of around Tk 5 million, he added.
Responding to a question about gas availability, the minister said the government is preparing to adopt an aggressive action plan to ensure adequate gas supply.
He mentioned that no new gas wells had been drilled over the past 15 years, which has increased pressure on the energy sector.
The minister also referred to the previous government led by the Bangladesh Nationalist Party (BNP), noting that it had formulated a power generation policy under which 35 percent of electricity was to be generated by the private sector and 65 percent by the public sector.
To address the current challenges in the power and energy sector in detail, the minister said he would soon meet with the Prime Minister for further discussions.
At the event, the minister congratulated the newly elected committee of FERB and presented honorary crests to outgoing Chairman Shamim Jahangir, newly elected Chairman Azizur Rahman Ripon, and Executive Director Sirajul Islam.
The program was moderated by FERB Executive Director Sirajul Islam.
