Dhaka: Adviser to the Prime Minister on Finance and Planning, Prof Dr Rashed Al Mahmud Titumir, stated today that the ongoing electricity and energy crisis in the country is a consequence of the previous government's flawed energy policies, over-reliance on imports, and failure to enhance national capacity. Speaking as the chief guest at a seminar titled "Economic Context and Emerging Challenges: Priorities for the Future," organized by the Economic Reporters' Forum (ERF) and the Centre for Policy Dialogue (CPD), Titumir emphasized that the crisis is not linked to the current government.
According to Bangladesh Sangbad Sangstha, Titumir highlighted that the uncertainty over global fuel prices and supplies, exacerbated by the current situation in the Middle East, is impacting Bangladesh. He noted that the country is spending around $11 per unit to import LNG from Qatar and argued that adequate domestic gas supplies and exploration capacity could have reduced costs significantly. The adviser criticized the previous government for increasing import dependence instead of securing national energy. He pointed out that insufficient gas exploration, lack of domestic energy resource development, and inadequate initiatives for renewable energy targets have contributed to the current situation.
Titumir underscored the need to evaluate the economic repercussions of past failures in the energy sector, including the costs of inaction and wrongdoing, as well as money siphoned out of the country and accumulated debts in the energy sector. He urged the Bangladesh Economic Association, universities, think tanks, and relevant professional organizations to conduct comprehensive research on these issues, stressing the importance of accountability in government spending.
He also mentioned that a structure of oligarchic influence had emerged due to past patronage and import dependency, affecting national capacity-building in the energy sector. Titumir assured that the current government is addressing these inherited problems and working towards future energy security, including plans to generate 4,000 megawatts of solar electricity and initiatives to turn consumers into producers through net metering.
On healthcare, Titumir emphasized the importance of proper budgetary allocation utilization, mentioning plans to develop 150-bed upazila health complexes and establish kidney dialysis centers and coronary care units at the district level. He stressed that merely increasing allocations for health and education is insufficient without ensuring proper fund utilization.
Regarding inflation, Titumir attributed past pressures on prices to looting, corruption, and irregularities in import and supply systems. He noted that inflation is slightly above 8 percent but aims to gradually reduce it to 6 percent. He mentioned a Tk 60,000 crore package to reopen closed factories, with financing agreements already signed with concerned banks.
Titumir highlighted the record revenue collection by Chattogram Customs House in the last fiscal year and urged the media to assess revenue figures for actual performance. He promised that the government would present achievable revenue targets based on actual results after the first quarter.
In conclusion, Titumir outlined the government's objective to overcome past losses and establish an accountable, effective, and sustainable state system in energy, electricity, revenue, education, healthcare, and employment sectors. The seminar was chaired by ERF President Daulat Akter Mala, with participation from National Professor Dr Mahbub Ullah, FBCCI Administrator Fazlul Hoque, and CPD Distinguished Fellow Dr Fahmida Khatun.