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He said the government has planned to increase power prices several times, but the sector will require more subsidies as more power plants, including Rooppur nuclear plant, are ready to produce electricity.
"If the old and inefficient power plants are not removed … the overall capacity charges will increase, which will worsen the subsidy burden," he told The Daily
https://www.thedailystar.net/business/economy/news/power-agriculture-drive-subsidies-3626101
The prime minister will likely pay an official visit to New Delhi on June 21-22 and to Beijing on July 9-12, a senior Bangladeshi official told UNB.
https://www.thedailystar.net/news/bangladesh/diplomacy/news/pm-likely-visit-india-june-21-22-china-july-9-12-3626286
What are the policy options that the government can implement in the next fiscal budget to overcome these barriers?
First, achieving efficiency in the energy sector and providing a roadmap for uninterrupted power supply for businesses is of paramount importance. Rationalising the prices of electricity is necessary, but a radical adjustment in electricity and other fuel prices will further deteriorate the investment potential.
https://www.thedailystar.net/business/news/challenges-and-policy-pathways-private-investment-3626006
However, despite the declining trend of energy prices in the international market, it is being heard that the prices of electricity and gas will be increased again. It is important to have a sustainable solution to the problem. If a long term plan is given to the industrial sector in terms of power and gas supply, it can move forward accordingly.
https://bangladeshpost.net/posts/tough-time-for-industrial-sector-138775
Business’s need regular affordable power,
Us smarties have the hanwser 🤷🏻♂️
Is the penny finally dropping
The government also needs to take more actions to stable foreign exchange reserve, manage inflation, enhance revenue earnings, ensure proper electricity and gas supply for economic activities, reduce the cost of doing business
https://thefinancialexpress.com.bd/economy/bangladesh/mcci-suggests-steps-to-stabilise-reserves-contain-inflation
As predicted late yesterday afternoon, MM drop the bid to get the 400k of sells to fill the after hours 575k buy.
But of course this type of thing doesn’t happen in reality 😂
The below is all I can find on yesterday’s meeting
DHAKA, May 24, 2024 (BSS) - Prime Minister Sheikh Hasina has directed the 14-party alliance leaders to more organize the alliance and make it popular to the people.
The directives came while Prime Minister Sheikh Hasina joined a meeting at her official Ganabhaban residence here on Thursday night.
After the meeting, Awami League General Secretary Obaidul Quader formally disclosed it to journalists in front of the Ganabhaban.
The meeting also discussed about the contemporary situation of the country, he said.
Quader said the Prime Minister has given the directives in view of establishing a non-communal Bangladesh.
"There will be no longer distance among the 14-party alliance after the meeting ", Quader added.
https://www.bssnews.net/news-flash/190914
Hopefully power / Energy is top of the agenda
Prime Minister Sheikh Hasina will chair the meeting, said a press release signed by AL office secretary Barrister Biplab Barua.
Amir Hossain Amu, spokesperson and coordinator of the central 14-Party Alliance, has requested all the party leaders to attend the meeting on time.
https://www.bssnews.net/news/190617
Another 150k buy report late popped up, long may it continue
Mine now showing as sell, go figure 😂
Every little helps said the old lady who peed in the sea
4657 shares (last of the big spenders lol) @5.59p was a buy, just rounding up my total. No more funds available now.
I’m sure this has been posted before, apologies if it has as it’s 6 weeks old.
a time when power and energy prices are soaring in Bangladesh, the old issue of developing its proven domestic coal reserves comes to the fore. For over 15 years, energy planners in Bangladesh have dabbled with import-only fossil fuels to keep wheels of the economy turning. Undoubtedly, the country prospered in the fields of agriculture and industry. Things began to go awry due to external geo-political issues that have resulted in import-only fuel supply prices on its head and made it literally impossible for Bangladesh to foot the energy bills.
With the growing political influence of the import lobby came one decision after another (at policy level) to build a power sector that is heavily dependent on imported fossil fuels. The issue of developing its own proven coal reserves were left on the backburner, despite having generated interest of international mining companies and having access to foreign finance to develop these mines. The government caved in to unrealistic demands of a small coterie of so-called intellectuals and so-called 'experts' and did not heed the warnings of its own professionals engaged in publicly owned companies and energy professionals.
https://thefinancialexpress.com.bd/views/columns/will-government-make-use-of-local-coal-reserve
Will Phulbari get a mention, coal extraction is surely on the agenda
The Centre for East Asia Foundation (CEAF) has organised a roundtable discussion on 'China-Bangladesh Relations and The Belt and Road Initiative' at the Abdullah Farque Conference Hall of the Faculty of Business Studies of Dhaka University on Monday.
The four-member high-level delegation led by Prof Dr Wang Jian, Director of the Shanghai Academy of Social Sciences (SASS), China attended the programme. Dean, Faculty of Business Studies, University of Dhaka Prof Dr Muhammad Abdul Moyeen attended as the chief guest, and former Ambassador and Chairman of CEAF Mahbub Uz Zaman moderated and chaired the event.
The chief guest Prof Dr M Abdul Moyeen mentioned that Bangladesh, as a member of the BRI cooperation alliance of China, has already started benefiting from the BRI, including China's financial investment and contractual construction obligations.
https://thefinancialexpress.com.bd/trade/roundtable-discussion-on-china-bangladesh-relations-and-the-belt-and-road-initiative-held-at-du
Prime Minister Sheikh Hasina Thursday asked the authorities concerned of all ministries and divisions to speedily complete the foreign aided and grant projects with additional efforts if required to expedite further the development spree of the country.
https://en.samakal.com/bangladesh/170829995/pm-for-speedily-completing-foreign-aided-projects
The government is set to increase budget allocation for quick completion of the Rooppur nuclear and Matarbari coal-fired power plant projects.
https://www.thedailystar.net/news/bangladesh/news/rooppur-matarbari-and-metro-projects-get-highest-adp-allocation-3610991
(Where is the coal coming from and what cost)
Slightly off topic, but emphasis of importance of power to the economy
State Minister for Power, Energy and Mineral Resources, Nasrul Hamid, has said that a roadmap that integrates artificial intelligence with modern technology to advance Bangladesh's power and energy sector is being developed.
Speaking at the closing session of a seminar titled “The Engineers for Transforming Technology Driven Smart Bangladesh” at the Engineers Institution, Bangladesh (IEB) on Monday, Hamid emphasised the pivotal role of power and energy as the main drivers of Bangladesh's economy.
https://thefinancialexpress.com.bd/trade/nasrul-advocates-for-ai-in-enhancing-bds-power-and-energy-sector
The net foreign exchange reserves in Bangladesh, as per International Monetary Fund guidelines, fell to $13.76 billion, with the gross reserves dropping to $18.26 billion on May 12, marking a 10-year low, according to Bangladesh Bank data...
https://www.newagebd.net/post/Banking/235088/bangladesh%5C%27s-net-forex-reserve-plunges-to-$13.8b
I like these bits of the article , although not new news
On March 11, GCM said in the notification that the company has received letters of interest to purchase Phulbari coal from Bangladesh's private sector coal producer SS Power's 1,320 MW Banshkhali coal-fired power plant and Barisal Electric Power Company's 350 MW Barisal coal-fired power plant. It is noteworthy that China's state-owned company Power Construction Corporation of China Limited (Power China) has a stake in these two power plants that want to buy coal from Phulbari. GCM has signed a $1 billion deal with Power China to 'cooperate' in the mining of Phulbari coal.
Quoting the Ministry of Energy, BBC Bangla informs that within the month of April, a proposal made on the basis of data from various surveys and feasibility studies conducted in the country's coal mines will be presented to the highest level of the government and sought approval. Despite the threat of destruction of agricultural land and water resources if coal mining is done, the rationale behind this initiative to extract coal is to deal with the future energy crisis and reduce import dependence. (New initiative for open pit coal mining in Bangladesh, BBC Bangla, 15 March 2024)
https://www.prothomalo.com/opinion/column/4oxptaf347
Bangladesh has an installed capacity of over 27,000MW. Half of the capacity stays idle because of fuel shortages.
Bangladesh’s power system is overwhelmingly fossil fuel-dependent, where $33 billion has been invested over the past 14 years.
Idle power capacity generated Bangladesh Tk 1 lakh crore over the same period.
Bangladesh announced 100 per cent electrification in March 2022, months before introducing rotating power cuts because of the fuel crisis owing to the dollar crisis.
https://www.newagebd.net/post/country/233420/load-shedding-more-frequent-in-villages
Load shedding continues
https://thefinancialexpress.com.bd/national/load-shedding-hits-1000mw-amid-soaring-demand-spurred-by-heat