The previous government’s excessive investment in power plants beyond actual need has increased financial strain on the current government, Bangladesh Energy Regulatory Commission (BERC) Chairman Jalal Ahmed has said.
He made the remarks Friday (Sept. 4) at a mock parliamentary debate titled “Investment in Renewable Energy to Ensure Energy Security,” held at the FDC in the capital. The debate was organized by Debate for Democracy.
The BERC chairman said: “No effective new energy policy has been formulated since 1996. Over the past 15 to 16 years, sufficient importance has not been given to domestic gas exploration either. Instead, more attention was focused on import dependence.”
Jalal Ahmed said: “Because excess power generation capacity was built beyond demand, the government now has to bear additional investment costs as well as extra expenses. Energy security could not be ensured over the long term due to flawed policy and irregularities as well,” he said.
However, the BERC chairman said that while the crisis cannot be resolved quickly, Bangladesh has good potential in solar power. He noted that although wind power has been discussed, its potential in the country is comparatively lower.
He said a balanced energy policy must be formulated to move past the mistakes, irregularities, corruption and money-laundering allegations of the past and overhaul the overall management system. This would help revive industrial factories while boosting exports and GDP growth.
At the event, Debate for Democracy chairman Hasan Ahmed Chowdhury Kiron said the current government took office amid a fragile economy. He said the government must take appropriate steps to ensure energy security.