Dhaka: State Minister for Planning Zonayed Abdur Rahim Saki on Wednesday emphasized the government's prioritization of rapidly exploring and utilizing Bangladesh's own energy resources to tackle the fuel crisis resulting from the ongoing conflict in the Middle East. He highlighted the need for immediate action after the first meeting of the Advisory Committee designed to support the General Economics Division of the Planning Commission at Agargaon.
According to United News of Bangladesh, the state minister pointed out that the failure to fully harness Bangladesh's promising gas fields was historically due to a lack of rigs and inadequate capacity. Despite multiple international surveys indicating significant gas potential, these resources remained untapped for 17 years. Saki mentioned that entities like Bangladesh Petroleum Exploration and Production Company Limited (BAPEX) and Petrobangla have long been neglected, but the government is now focusing on strengthening BAPEX's capacity and intensifying gas exploration efforts. Additionally, steps are being taken to enhance Petrobangla's efficiency.
In terms of renewable energy, Saki underscored the importance of solar power, stating it should no longer be viewed as costly or simply an alternative but as a practical necessity. A phased transition plan towards renewable energy is being developed to reflect this necessity.
He further explained that the government aims to strategically expand storage capacity, ensure energy security, and implement long-term plans to guide the country towards a stable and prosperous economic future. A strategic framework covering the next four, eight, and ten years is being prepared, with equal emphasis on immediate economic recovery and long-term prosperity.
Acknowleding the government's efforts to recover from a fragile economic situation, Saki noted that past plans are being scrutinized for feasibility and implementation. A review and reassessment of existing plans and ongoing projects have been initiated to ensure alignment with these goals.
Saki emphasized the importance of project continuity while clarifying that ineffective or redundant projects would not continue in the name of consistency. Ongoing projects are being restructured to align with the government's objectives of economic democratization and an equitable socioeconomic order. He concluded by affirming that a participatory economy would extend its benefits to ordinary people, and building an inclusive political economy remains a core government objective.