IBFB calls for energy audit to restore good governance in energy sector
The International Business Forum of Bangladesh (IBFB) suggested to audit all the projects and contracts of the power and energy sector in order to overcome the corruption and irregularities in the country's economy in the last decade.
The suggestion came from a seminar titled 'Challenges in Reform in Energy and Power Sector' held on Wednesday, September 3, 2024 at the IBFB office located at Tejgaon area in Dhaka. Expert speakers welcomed the attempt to re-introduce the public hearing to determine the price of electricity and energy products in the seminar.
Former caretaker government's energy advisor and professor of BUET Dr. M. Tamim attended the event as a special guest. The main article was presented by the former professor of BUET Dr. Ijaz Hossain. President of IBFB and Managing Director of Energy Pack Humayun Rashid, delivered the welcome speech. He said, "IBFB has always been advocating for the interests of business and entrepreneurs in the country".
Energy expert Professor M Tamim said, "There is a misconception about capacity payment, it is necessary to find out how much of the one lakh crore payment is being used there".
He said, "24 thousand megawatts of electricity has been produced by targeting in our country. I am using 13 thousand MW. All technical issues including energy have been made political issues. There has been data terrorism in every area, starting with GDP. 9 percent growth has been shown for 20 years out of political reasons”.
Tamim pointed out that gas was not explored locally in the development of the country's energy sector due to personal profit. Questioning whether the Ministry of Energy is necessary, BUET professor Ijaz Ahmed said that the government has no role in determining the price of American energy.
He said, our ministry of energy has become a monster. In America, there is a minister of energy, but there are separate bodies that deal with all civil services, including energy, commissions like Bangladesh Atomic Energy commission-BAEC.
In the main article, Dr. Ijaz said, energy consumption has not increased due to the crisis of industrial entrepreneurs for energy. 60 percent of our natural gas is used in power generation, of which 18 percent goes to captive power. Residential use is 11 percent. The main article mentions that 20 of the country's 29 gas fields are in operation.
Professor Ijaz said, everything in the energy sector has become import dependent. Our current gas production is 2202 mmcfd. In the last 5 years we have increased the consumption of equivalent gas in many areas. As a result, supply shortages have arisen.
The amount of system loss (5 percent) due to faults in our country's gas transmission lines is about $1 billion a year. The amount of economic loss will increase if the LNG being imported at the current rate of $15 goes up in the future. Professor Ijaz pointed out that after nine years, the country's natural gas reserves will fall to zero.
Bangladesh Textile Mills Association (BTMA) President Shaukat Aziz Russell said, despite the fact that the Ministry of Energy is in the office of the head of the country, we have seen how energy contracts have been made without competition in the last decade. He said, our country's company became a Singaporean company overnight, when the country's reserves were in crisis, we sent dollars to Singapore. Common people have been played with.
Rajeeb Haider, Director of BTMA, said that the price of gas in the industry has increased by more than two hundred percent in the last few years. Currently, we have to buy gas at the rate of 31.5 taka. Gas prices are increasing without any notice. Foreign buyers have been in contract with us for several years. We calculate overhead costs in our business.
He said that most of the rural areas of the industrial areas of the country are under electricity. Load shedding cannot be reduced in rural electricity. In fact, the Rural Electrification Board could not achieve the capacity to serve industrial lines.
Bangladesh Solar and Renewable Energy Association (BSREA President) Nurul Akhtar, IBFB Founder President Mahmudul Islam Chowdhury, Vice President MS Siddiqui were present in the seminar. The meet was conducted by Energy and Power Secretary Molla Amzad.
