Dhaka: Adviser to the interim government on the Ministry of Power, Energy and Mineral Resources, Muhammad Fouzul Kabir Khan, today urged businessmen to invest in the country's various sectors, including power and energy, emphasizing business competition. He highlighted that the government has opened up all businesses for entrepreneurs to secure jobs through competition, marking an end to the era of obtaining business through favor and fear. According to Bangladesh Sangbad Sangstha, Fouzul made these remarks while addressing a seminar titled 'Rapid Transition to Renewable: Role of Domestic Financial Institution,' organized by the Economic Reporters Forum (ERF) at its auditorium in the capital. He emphasized the interim government's focus on promoting renewable energy, crucial for the country's export-oriented garment sector. The seminar, chaired by ERF President Mohammad Refayet Ullah Mirdha, featured discussions from various experts including the Centre for Policy Dialogue's research director Dr. Khondaker Golam Moazzem, City Bank's business country manager Ashanur Rahman, and CLEAN's chief executive officer Hasan Mehedi. A presentation on the seminar's topic was delivered by Gouranga Nandy, Chairperson of the Centre for Environment and Participatory Research, while ERF general secretary Abul Kashem conducted the event. Kabir dismissed the notion that land scarcity is a major obstacle for solar power projects, noting that numerous government-owned lands remain unutilized and could be harnessed for solar power plants. He also opposed tax exemptions for importing solar components like inverters and panels, advocating for local production similar to that in India. Additionally, Fouzul rejected the reconsideration of 37 previously canceled solar power projects selected under the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act 2010, as the High Court has already nullified the law. He hinted that the government would not permit additional independent power producer plants in the private s ector, instead shifting to a merchant power plant policy where the government purchases a fraction of the power produced. Dr. Khondaker Golam Moazzem pointed out that local banks are hesitant to finance long-term renewable energy projects due to short-term deposit collections, posing risks that the central bank needs to address. Gouranga Nandy added that despite banks' green financing efforts, solar energy investment lacks upward momentum due to the absence of specific investment guidelines for banks.
