Muhammad Fawzul Kabir Khan, adviser on electricity, energy and mineral resources, has asked the World Bank for one billion dollar assistance for budget support, stating that the current foreign price payment liability for electricity and energy import is about 2.2 billion US dollars.
On Wednesday (August 21), World Bank Country Director Abdoulaye Sec held a meeting with Advisor Muhammad Fawzul Kabir Khan at the Secretariat. The advisor made a request there. This information was informed in a press release of the ministry.
Fawzul Kabir Khan said that the current foreign price payment liability for electricity and energy import is about 2.2 billion US dollars. Therefore, he requested the World Bank to give one billion US dollars for budget support in the power and energy sector.
He said that the current government has come up with a strong mandate. On the first day of assuming office, suspended the ongoing activities under the ‘Rapid Increase in Supply of Electricity and Energy (Special Provisions) Act, 2010 (Amended 2021)’ and 34A of the ‘Bangladesh Energy Regulatory Commission (Amendment) Act, 2023’. The clause suspends the government’s power to fix electricity and gas prices. If necessary, these two laws will be tested and amended/cancelled initiatives will be taken.
He also said that the provisions of Public Procurement Act, 2006 and Public Procurement Rules, 2008 will be used in all procurement processes from now on. Fawzul Kabir Khan said that the formulation of plans to increase the use of renewable energy in the power and energy sector will be accelerated.
The country director of the World Bank appointed in Dhaka said that they are sincere in the work of the present government. If you receive a proposal regarding the budget assistance in the power and energy sector, consider it sincerely.
The senior secretary of the electricity department said in the meeting. Habibur Rahman, Secretary of Energy and Mineral Resources Department. Nurul Alam, Finance Secretary Dr. Md. Khayeruzzaman Majumdar and senior officials of the ministry were present.
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