2 years needed to overcome energy crisis: FM

Finance and Planning Minister Amir Khosru Mahmud Chowdhury stated that Bangladesh’s ongoing electricity and gas shortages cannot be solved overnight, explaining that it will take a minimum of two years to fully resolve the energy crisis.

Speaking on Sunday at a seminar organized by the American Chamber of Commerce in Bangladesh (AmCham) in Dhaka, he emphasized that securing a reliable energy supply is vital to sustaining economic growth. The minister highlighted that while the economy is gradually stabilizing, the government is actively tackling the financial hurdles it inherited.

To meet long-term energy demands, plans are underway to balance power generation using a mix of renewable energy, gas, and coal.

At the seminar, Amir Khosru Mahmud Chowdhury said the country’s economy is currently moving towards stability. The government is working to recover from the financial crisis it inherited, he said.
He added that the government is planning to generate electricity through a combination of renewable energy, gas and coal to meet the country’s future energy needs. The finance minister also said the government is working to improve the business environment by reducing red tape, corruption and harassment in the tax system.

He said the country’s capital market is also in a better position than before, prompting foreign institutions such as JPMorgan to show interest in investing in the market.

The minister reiterated that the electricity and gas crisis cannot be resolved within six months or a year. It will take at least two years to fully overcome the crisis, he said, adding that the government is working to resolve the energy shortage and put the economy on a stronger footing.