BD needs 34,000 MW of electricity by 2030 to sustain its growth

UNB, Dhaka :
International Chamber of Commerce-Bangladesh (ICCB) has described the smooth supply of energy as a vital utility for economic development and achieving the sustainable development goals (SDGs). Quoting experts, an editorial of the current news bulletin of the ICCB said Bangladesh will need an estimated 34,000 MW of power by 2030 to sustain its economic growth of over 7 percent.
 The experts suggest that top priority should be given for on-shore and off-shore gas and oil exploration, improvement of power transmission and distribution segments as well should be given top most priority. Today, Bangladesh GDP is US$455 billion, which was only US$6.2billion in 1971. It is expected that the GDP will be US$510 billion in FY22-23, according to ICCB. Bangladesh has an impressive track record of growth and poverty reduction. It has been among the fastest growing economies in the world over the past decade, supported by a demographic dividend, strong ready-made garment (RMG) exports, and stable macroeconomic conditions.
Continued recovery in exports and consumption will help growth rates pick up to 6.4 percent in FY22, according to recent World Bank review on Bangladesh. Bangladesh, being one of the poorest nations at birth in 1971, with tenth lowest per capita GDP in the world has reached lower-middle-income status in 2015. The 40th Plenary Meeting of 76th UN General Assembly held on 24 November 2021 adopted the resolution that Bangladesh will officially become a developing country in 2026. One of the key indicators behind the economic development of any country is the adequate supply of electricity.
Electrification of Dhaka began in 1901, only 19 years after New York and 13 years after London.
In 1948, there were only a few Steam Turbine supplying electricity mainly to Dhaka, Chattogram and Khulna at that time. In 1962, a small 40 MW Kaptai hydro-electric project was installed with a commissioned 132kV transmission line between Dhaka and Chittagong. In 1971, after the independence of Bangladesh only 3% of the population had access to electricity.
The country now has over 23,000 MW of installed power generation capacity with 100% coverage. According to the Bangladesh Power Development Board (BPDB), the surplus in power generation is around 8,000 MW, according to ICCB.