Tk 28,050 cr for ensuring energy security, smooth power supply

DHAKA, Taka 28,050 crore has been earmarked today for Power, Energy and Mineral Resources Ministry in the proposed budget for 201920 fiscal placed in the Jatiya Sangsad for enhancement of energy security and energy efficiency alongside overall development of power and energy sector.

With a slogan of 'Power is the Pathway to Prosperity by Prime Minister Sheikh Hasina for ensuing electricity in all households, the government is supplying electricity to approximately 93 percent of population, Prime Minister Sheikh Hasina said on behalf of Finance Minister AHM Mostafa Kamal as he felt sick at one stage while unveiling the national budget for the financial year 201920 (FY20) in the House. Out of the total proposed allocation of Taka 28,050 crore for energy and power, Taka 26,064 crore for the power division and Taka 1,986 crore for the energy and mineral resources division, while Taka 26,502 crore was allocated in the revised budget of FY 19.

The government set targets to generate 24,000 MW by 2021, 40,000 MW by 2030, and 60,000 MW by 2041 respectively, adding, To meet the demand of electricity in short, medium and in long term, the projects for generation, distribution and transmission are in different phases of implementation.

The prime minister on behalf of finance minister said all benefits of these initiatives were already visible. Currently, the power generation capacity has increased to 21,169 MW, and we have succeeded to provide access to electricity to approximately 93 percent of population. Besides, projects for construction of 53 power plants with capacity to generate 14,202 MW of electricity are underway. Plans have been taken to establish 17 power plants with a capacity to generate 19,650 MW of electricity in the near future. Besides, there are plans to generate extra electricity through BMRE of the existing old power plants.

In order to ensure energy security and sustainable energy supply system, we have plans to reduce the use of fuel to 15 percent by 2021 and to 20 percent by 2030. Fuel diversification has been adopted as a strategy to reduce dependency on natural gas for electricity generation and for energy security, she said on his behalf.

Some mega projects are being implemented at Paira, Moheshkhali and Materbari classifying these areas as power hub.

We selected these areas considering the land availability, transport facilities and load centers. The mega projects that are worth mentioning include 1,320 megawatts Maitree Super Critical Thermal Power Plant, Rampal, 1200 MW Ultra Super Critical Coal Project, Materbari and Payra 1320 MW Thermal Power Plant Project, the budget speech reads.

The governmnet has undertaken step to establish 10,000 megawatts coal based power plant at Moheshkhali through Joint Investment. In order to import Liquefied Natural Gas (LNG), an alternative to indigenous natural gas, to ensure energy security in the country, two Floating Storage and Regasification Unit (FSRU) with a daily capacity of 1000 million cubic feet have been installed, which currently adds around 650 million cubic feet LNG daily to the national grid, the finance minister's budget speech added.

Source: Bangladesh Sangbad Sangstha (BSS)