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Finance Minister Amir Khosru Mahmud Chowdhury has warned that Bangladesh may need at least two years to resolve its ongoing electricity and gas crisis.
Speaking at an event organized by the American Chamber of Commerce in Bangladesh (AmCham) at Hotel InterContinental in Dhaka on Sunday, August 16, the minister said the crisis was inherited from the past and could not be solved overnight.
He said gas exploration has now begun, with tenders already invited. However, new exploration projects and floating LNG terminals could each take around one and a half to two years to become operational.
The government is also working on solar power and coal-based energy. A comprehensive energy policy is expected within two to three weeks, outlining the country’s future power and fuel mix.
The minister acknowledged that the crisis is causing serious losses for businesses and the wider economy. He said Bangladesh is also considering open-pit coal mining, including at Fulbari, because the country needs additional energy sources.
He further noted that electricity transmission remains a major challenge despite significant power generation. The government is therefore working on a balanced energy mix involving renewable energy, gas and coal.
On revenue collection, the finance minister said the government plans to expand the tax base and introduce fixed-rate taxation for small businesses. He also highlighted serious capital shortages and high default loans in the banking sector, stressing the need for alternative sources of financing.
AmCham President Syed Mohammad Kamal said businesses wanted not only to identify challenges but also to become part of the solutions and help restore confidence among entrepreneurs.
