The dollar is at its highest since November against other major currencies, poised for a fourth straight month of gains
Government not considering power tariffs cut, minister tells House
The government has no plans to reduce power tariffs as cost of production continued to be higher than rates at which it is sold, says State Minister for Energy and Power Nasrul Hamid.
Published : 26 June 2016, 08:15 AM
Updated : 26 June 2016, 08:15 AM
He told the Parliament on Sunday that that they have sought a Tk 50 billion budgetary support for power sector in the upcoming fiscal year.
On Saturday, Bangladesh’s power plants set a new record by generating 8,942 MW (mega watt) of power.
A fall in global oil prices have led to a drop in cost of power generation cost from Tk 6.27 per unit to Tk 5.60, Hamid informed the House. “But it’s still Tk 0.7 higher than the current tariff. So, there are no plans for an immediate rate revision.”
Replying to an MP’s query, the minister said that the government has adopted a long-term plan to ensure constant power supply. He said it plans to generate 24,000 MW power generation by 2021, 40,000 MW by 2030 and 60,000 MW by 2041.
RELATED STORIES
The IMF's fiscal monitor estimates that the US deficit for 2024 will reach 6.67% of GDP, rising to 7.06% in 2025 - double the 3.5% in 2015
The nation has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets
The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
