Bangladesh’s power and energy sector are set to receive an allocation of Tk 26,066 crore in the proposed budget of the 2022-23 fiscal year. The allocated amount is Tk1,418 crore less compared to last year’s.
The Power Division will get Tk24,196 crore, while the rest Tk1,870 crore will go to the Energy and Mineral Resources Division. This year, the development allocation for power and energy is 3.9 percent of the total budget. Finance Minister AHM Mustafa Kamal proposed the latest allocation in the House on Thursday, saying that the power sector alone achieved “unprecedented” electricity generation.
According to the budget speech, currently 34 Power Plants with a capacity of 13,530 MW are under construction. Considering the availability of land, energy transportation facilities and load centres, mega projects are being implemented at Payra, Maheshkhali and Matarbari, transforming the region as a power hub. Among them, the commercial production of 1,320 MW thermal power plant at Payra has been inaugurated recently.
On the other hand, construction of the Rampal power plant with a capacity of 1,320 MW, the coal-based Maitri Super Thermal Project, Matarbari 1,200 MW ultra-super critical coal project is running in full swing. The 2,400 MW nuclear power plant project is under implementation at Rooppur with Russian assistance.
Moreover, around 780 MW of electricity is being generated from renewable energy sources. With a view to generating 10 percent of country’s total demand from renewable energy, emphasis has been laid on solar power generation. With the implementation of these projects, it will be possible to ensure quality electricity supply to all in near future.
Mustafa Kamal said that of the 28 gas fields discovered in the country, 20 are currently in operation. In 2009, gas production in the country was 1, 788 million cubic feet, which has now increased to 2,525 million cubic feet.
Besides, to meet the increasing demand for gas, 600-753 million cubic feet of imported LNG or liquefied natural gas is being added to the national grid daily. On the other hand, to meet the increasing demand for fuel in the country, ERL Unit-2 project for enhancing the refining capacity of Eastern Refinery Limited by 30 lakh tons, has been undertaken. After implementation of project, the refining capacity of Eastern Refinery Limited will be increased to 45 lakh MT per annum.
“Fossil fuel, gas, electricity and chemical fertiliser prices will be adjusted gradually and on a small scale due to increases in its price in global market,” he also added.
