Muhith proposes to allocate Tk 11,540.40cr for power, energy and mineral resources

New Age Online

Proposing to allocate Tk 11,540.40 crore for power, energy and mineral resources ministry, finance minister AMA Muhith on Thursday told the House that electricity will reach every household within the next five years with the implementation of medium and long term plans.
Of the Tk 11,540.40 crore, the finance minister proposed to allocate Tk 9,284.17 crore for power division and Tk 2,256.23 crore for energy and mineral resources division, BSS reports.
‘We had set a target of generating 20,000 megawatt (MW) of electricity by 2021 but considering the growing demand and increasing generation capacity, we have re-fixed this target at 24,000 MW,’ he said.
To achieve the changed target, the government has taken initiatives, apart from increasing domestic production, to generate and allocate power through bilateral, multilateral and regional agreements with neighboring India, Bhutan and Nepal.
He said the government has already taken to raise power generation capacity to 18,162 MW by 2017.
Muhith said the government will take necessary steps to dig 21 wells in order to enhance gas generation capacity by 2015-16.
Import of LNG from abroad will continue, he said, adding that the government is considering the establishment of an LNG terminal and necessary infrastructure in Maheshkhali Island.
The finance minister said steps have been taken to establish coal based power plants with a generation capacity of 1,426 MW by 2017 which will shift the burden from gas that contributes to 78 per cent of power generation in the country.
Two nuclear power plants will be set up at Ruppur with a total generation capacity of 2,000 MW of electricity, he said.
To produce 800 MW of electricity by 2015 using renewable energy, the government has established a special fund to finance renewable energy based power plants. ‘The size of the fund will stand at Tk 400 crore with this year’s allocation,’ he added.
He said a move is underway to install more than 60,000 pre-paid metres to ensure efficiency, transparency, and accountability in power management.
About the development of energy sector, the finance minister said steps are underway to enhance the capacity of BAPEX. Special emphasis will be laid on discovery of new gas and oil fields, he added.
In addition, scope of assistance and cooperation with international organisations to explore new gas and oil fields in the coastal and deep sea areas will be widened, he said.
‘We’ll also take initiatives to reduce the misuse of gas by enhancing managerial efficiency in gas sector,’ he added.

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