Govt to raise funds for power generation with local resources

FE Team | Published: December 01, 2009 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
The government will raise funds offering a certain amount of shares of some individual projects to the investors for energy exploration and power generation with local resources, Prime Minister's Energy Affairs Adviser said.
"Initially we will present some projects in the capital market for fund raising. The committee formed for raising fund is working for the purpose and the members of the committee are maintaining communication with me," Prime Minister's Energy Affairs Adviser Tawfiq- e-Elahi Chowdhury told the FE.
The procedure of raising fund through private partnership (PP) from the capital market is going ahead following a meeting held at the Secretariat on September 29, where representatives of Securities and Exchange Commission (SEC), Dhaka Stock Exchange (DSE) and local and foreign commercial Banks agreed to participate in creating special funds of $10 billion for power and energy sector development.
Meanwhile, the Board of Investment has formed a framework of private partnership (pp) for raising funds from the capital market and sent it to the Prime Minister's office, a source said.
"The government will raise funds through private partnership (PP). In such case they will bring some individual projects in the capital market," Md. Rakibur Rahman, president of DSE, told the FE.
On September 30, 2009 a committee for feasibility study was formed by the electricity and fuel ministry. The central bank's Deputy Governor Ziaul Hasan Siddiqui was selected the convener of the committee. The other members of the committee are as follows: one member of the SEC, president of the DSE, managing director of ICB, chairman of Petrobangla, chairman of PDB, one representative from the state-owned commercial banks, one representative from foreign private commercial banks and one representative of the Infrastructure Development Company Limited (IDCOL).