Private firms will be allowed to invest in power transmission and distribution lines as the government constitutes a policy to encourage private-sector investment for smooth operation of the power grid.
The national power grid can be used by the private sector under commercial terms as per the guideline.
The government will ensure investment security, waive taxes for 15 years and reduce import tax to woo private firms' investment in this potential sector.
State minister for power, energy and mineral resources Nasrul Hamid disclosed the government plan while addressing the Asia-Pacific ministerial roundtable virtually on Tuesday.
The Economic and Social Commission for Asia and the Pacific (ESCAP) and Sustainable Energy for All hosted the roundtable styled 'Progress and opportunities for attracting private investment over the next five years for their national energy transitory'.
Bangladesh has witnessed private investment worth $12 billion in the power sector over the past one decade, disclosed Mr Hamid.
The government has planned to attract $50 billion more private investment over the next 12 years, he said.
It has earmarked $21-billion investment in renewable energy, energy efficiency and energy conservation under the 'Mujib Climate Prosperity Plan.'
Sustainable Energy for All CEO Damilola Ogunbiyi, UN ESCAP executive secretary Armida Salsiah Alisjabana, Indian power and renewable energy minister Raj Kumar Singh, and Indonesian power and energy minister Arifin Tasrif, among others, also spoke.
azizjst@yahoo.com
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