The recent executive order by the government to hike gas prices for power production and captive power by 75 paisa, along with the announcement of another increase in power prices next month, has once again dealt a heavy blow to consumers already grappling with economic strains.
This move, while ostensibly aimed at reducing subsidies in the power sector, risks exacerbating the burden on ordinary citizens, particularly amidst fears of prolonged summer power outages.
With the price of gas seeing its eleventh hike since 2008 and power prices soaring threefold since 2010–11, it’s evident that these increases have failed to alleviate the financial strain on consumers or mitigate losses within the Bangladesh Power Development Board (BPDB).
Instead, they have contributed to a cycle of inflation and economic hardship for the populace.
While government officials argue that these hikes are necessary to reduce subsidy burdens and meet international obligations, the lack of tangible improvements in energy supply reliability casts doubt on the effectiveness of such measures. Industries continue to face interruptions in gas and power supply, leading to increased production costs and further economic strain.
Moreover, the bypassing of public hearings by curtailing the authority of the Bangladesh Energy Regulatory Commission Act raises concerns about transparency and accountability in decision-making processes.
The lack of public consultation undermines the principles of democratic governance and leaves consumers feeling marginalized and unheard.
The government must address inefficiencies and corruption within the energy sector rather than burdening citizens with repeated price hikes.
Transparency, accountability, and public participation are essential in formulating policies that truly benefit the people.
Until these issues are addressed, the cycle of unjustified price increases will only perpetuate the cycle of economic hardship for ordinary citizens.
The government’s decision to hike energy prices without addressing underlying issues of inefficiency and corruption is unjust and detrimental to the well-being of the populace.
It’s time for policymakers to prioritize the needs of the people and enact reforms that genuinely improve the energy sector’s efficiency and affordability.