The power and energy sector will receive an allocation of Tk 260.66 billion in FY'23, 5.16 per cent lower than the Tk 274.84 billion allocated for the outgoing FY'22, according to the proposed national budget for the upcoming fiscal year.
Presenting the budget in Parliament on Thursday, Finance Minister AHM Mustafa Kamal said that several mega projects are being implemented at Payra, Maheshkhali and Matarbari, transforming the region into a power hub considering the availability of land, energy transportation facilities and load centres.
Among them, the commercial production of 1,320 megawatt (MW) thermal power plant at Payra has been inaugurated by Prime Minister recently while the construction of Rampal 1,320 MW coal-based Maitri Super Thermal Project and Matarbari 1,200 MW ultra-super critical coal project is running in full swing, he said.
The 2,400-MW nuclear power plant project is under implementation at Rooppur with Russian assistance.
Moreover, around 780 MW of electricity is being generated from renewable energy sources. With a view to generating 10 per cent of country's total demand from renewable energy, emphasis has been laid on solar power generation.
"With the implementation of these projects, it will be possible to ensure quality electricity supply to all in near future," said the finance minister.
Over the last 13 years, total power generation capacity of the country, including captive and renewable energy, has recently increased to 25,566 MW.
"I am happy to announce that 100 per cent of the population has now access to electricity," Mr Kamal said, adding that per capita power generation increased from 220 kilo-watt-hour (kWh) to 560 kWh.
During the same period, 5,213 circuit kilometres of transmission line and 336,000 kilometres of distribution line have been constructed.
System loss in power distribution has also been reduced from 14 per cent to 8 per cent.
Currently, 34 power plants with a capacity of 13,530 MW are under construction.
Natural gas production now increased to 2,525 million cubic feet per day (mmcfd) from 1,788 mmcfd in 2009.
Besides, to meet the increasing demand for gas, 600 to 753 million cubic feet of imported LNG or liquefied natural gas is being added to the national grid daily.
To meet the increasing demand for fuel in the country, ERL Unit-2 project for enhancing the refining capacity of Eastern Refinery Ltd (ERL) by 3.0 million tonnes, has been undertaken.
After implementation of project, total refining capacity of the ERL will be increased to 4.50 million tonne per annum, said the minister.
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