The government has set a target to cut fuel use by 15 per cent and 20 per cent by 2021 and 2030 respectively through boosting efficiency.
The finance minister, in his budget proposals on Thursday, said prepaid meters in residential units and electronic volume corrector (EVC) in industrial units are being installed to ensure cost-effective use of gas.
The plan to install 20 million prepaid meters by 2021 is being implemented aiming to reduce system loss, realise unpaid electricity bills while ensuring efficient load management.
Bill payment, complaint disposal and application process for connection have been brought under automation, Muhith said.
"We supply electricity to about 92 per cent of the country's area and 90 per cent households get electricity connections," he added.
"Our immediate goal is to raise our power generation capacity from the existing 16,046 megawatts (mw) to 24,000 mw by 2021," he said.
"We expect to generate, in phases, 40,000mw power by 2030 and 60,000 mw by 2041."
Currently, the installation of 59 power plants having the capacity of generating 15,205 mw of electricity is under way.
Besides, a process is going on to install 23 power plants with a capacity of generating 4,440 mw, he said.
In the near future, the government has a plan to install 20 more power plants having the capacity to generate 22,052 mw of electricity.
Electricity connection has been provided to as many as 28.2 million customers using already installed 434,000 km transmission and distribution lines.
In order to address the issue of shortage, a plan has been undertaken to install another 21,000 km more transmission lines and 478,000 km distribution lines by 2021.
To explore the sources of alternative fuel approval was given to different companies to import and maintain stock of 2.44 million liquefied petroleum gas (LPG) cylinders to meet the growing demand.
One floating storage and re-gasification unit has already been set up to import liquefied natural gas (LNG).
Another unit will be set up soon.
The supply of LNG equivalent to 500 million cubic feet per day (mmcfd) and an additional 500 mmcfd will be possible through these units from May and October respectively.
"We have a plan to install two land-based LNG terminals at Maheshkhali, Cox's Bazar and Payra, Patuakhali," he said.
For the power sector, the proposed allocation for FY'19 in the ADP is Tk 228.93 billion, which is 0.59 per cent higher than the revised ADP allocation of Tk 227.57 billion for the outgoing fiscal.
The proposed allocation for the energy and mineral resources sector in the ADP is Tk 18.20 billion.
This is 35.21 per cent higher than the revised ADP's allocation of Tk 13.46 billion for the outgoing fiscal.
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