In the grand plan of power production, $175 billion or Tk 175 billion is needed. It’s not clear how this staggering amount will be arranged. In such a state, specialists feel that lack of enough investment may appear as the main impediment.
State minister for power, energy and minerals, Nasrul Hamid has also admitted that the biggest challenge facing the government is to ensure investment.
But since Bangladesh has maintained sustainable economic growth, several countries are interested in investing, so getting funds should not be a problem, added Hamid.
The government launched a grand plan to produce power though it has seen several changes.
Power development officials say that the government is giving emphasis on joint investment and countries with surplus liquidity are being invited.
The government has also taken steps to attract investors in Singapore. Investors are also being searched in China, India and countries in Europe.
Power System Master Plan shows that by 2041, Bangladesh will require 82 thousand Megawatt of power.
Power Cell’s DG, Mohammad Hossain, said: “We do not see any challenge in investment, we get fifty per cent of the cost from our Annual Development Plan, ADP; the government gives us around $300 billion and we are also getting financing from ADB, World Bank and JICA.”
Fund comes from bi-lateral donors, India, Saudi Arabia and other countries, he observed.
Former adviser to the caretaker government M Tamim, says: “The investment which is being thought about is mostly loan; no one is thinking how the loan will be repaid.”
“Most of the energy is now import based, which will take import cost to $20 billion per year; options of export should also be explored, which will ensure income and more development in industrial and commercial sectors.”
Regarding the bond, Tamim observes: “Bangladesh will launch Bonds but it’s not certain how much reliability foreigners attach to these bonds.”
Professor of BUET, Dr. Izaz Hossain, added: “The grand plan on power is seeing regular amendments but if development flow is maintained then the government won’t have to worry about investment.”