Power crisis holding back development process: Muhith

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Vehicles are in long wait at a CNG-station, which remained closed due to power outage in the city's Tejgaon area Wednesday. — FE photo

FE Report
Finance Minister AMA Muhith said Wednesday the government will seek support for implementing its proposed mega plans for power and energy, water resources and information communication sectors during its meeting with development partners, scheduled to be held in January next.
"We will hold the Bangladesh Development Forum (BDF) meeting in next January, where we will place our mega plans before the development partners for their support," the finance minister said.
He was talking to newsmen after holding meetings separately with a visiting delegation of the European Bangladesh Federation (EBF) Chamber and Industry, led by its president Wali Tasar Uddin, and leaders of the Bangladesh Jute Mills Association (BJMA) and Bangladesh Jute Spinners Association (BJSA) at his ministry.
"The prevailing power scarcity is holding back the country's development process… the supply of electricity cannot be improved due to inadequate transformers," Mr. Muhith said.
He also blamed an 'improper policy' of the previous elected government for the situation.
"We are drawing up a mega plan for the development of country's power and energy sector. We will soon sit with the power and energy divisions to give it a final shape," Mr Muhith said, adding then it will be placed before the cabinet for approval.
Like the power and energy sector, the government's long-term mega plans for developing the country's water resources and building up 'digital Bangladesh' will also be placed before the next BDF meeting, he said.
Already the government has submitted some proposals to the World Bank for such development initiatives, the finance minister informed the media.
When his attention was drawn to the proposed guideline on the government's Public Private Partnership (PPP) initiative, Mr Muhith said: "We are working on the matter. It will be finalised by September next."
About his meeting with BJMA and BJSA leaders, the finance minister said they have mainly made some demands, including a 20-year repayment facility of their outstanding loans with keeping five years' interest in 'block account', providing credit at the rate of 7.0 per cent to jute exporters and implementing the government's decision on early release of 70 per cent of export subsidy.
Mr Muhith expressed his willingness to address those issues except their demand of 20-year loan repayment facility for outstanding loans.
"The decision on keeping the interest in block accounts cannot be taken without assessing the volume of outstanding loans," he said.
Bangladesh Bank Governor Atiur Rahman, BJSA Chairman Ahmed Hossain and acting president of BJMA Nurul Islam Patwari, among others, were present at the meeting.