Finance minister Amir Khosru Mahmud Chowdhury on Sunday said that the country’s ongoing electricity and gas crisis could not be resolved within six months or even a year, and that it would take at least two years to address the problems.

‘We are facing a problem. I have to admit that it is inherited from the past. Unfortunately, nothing concerning electricity and gas can be resolved within six months. It is not possible even within a year. It will take at least two years,’ he said.

The minister was speaking as the chief guest at a seminar titled ‘Building Investor Confidence: From Policy Reform to Effective Implementation’ organised by the American Chamber of Commerce in Bangladesh at Hotel InterContinental in Shahbagh, Dhaka.

He said economic growth could not move forward without adequate supplies of electricity and gas, adding that the government was working to address the problems as quickly as possible.

Regarding the gas shortage, Khosru said the government was finalising arrangements for floating LNG terminals and onshore storage facilities.

‘All matters relating to floating LNG terminals and onshore storage facilities are being finalised. You will know about these within the next few days,’ he said.

On the electricity sector, the minister said the country had generated substantial amounts of power but transmission had emerged as a major constraint.

He said the government was in the process of finalising its policy on power generation and the overall energy mix. The government would pursue a combination of renewable energy and gas-based power, while also was examining the potential of coal, a resource available in Bangladesh, he said.

‘We are moving forward with an integrated energy mix,’ Khosru said, adding that the broad composition of the mix had already been determined.

He expressed hope that the country would see major changes in the electricity and gas sectors in due course.

SM/CitizenTimes