In the last decade, power and energy sector has witnessed a revolutionary enhancement and progress in our country. Under the able leadership of Prime Minister Sheikh Hasina, subsidies were provided constantly to this sector for which we witnessed a sheer development here. Now in order to make it profitable and sustainable, government wants to stop giving subsidies.
According to a report published in this daily on Saturday, Power and Energy sector will be made profitable by decreasing subsidies in phases from this year. In 2031, six percent profit will be earned from this sector and in 2041, the profit margin will be eight percent.
The government should approve various
energy efficiency programmes for the future
of country’s energy security
Making this sector profitable will not only make it sustainable but will also reduce the cost of electricity consumption for the customers in the future. To make this plan a succeess, we need to wipe out irregularities, corruption, unreasonable spending, inefficiency and mismanagement in this sector.
Reduction in subsidy will also increase the oppurtunities for private investment and profit in marketing, distribution. New openings in job sector will also be created.
Alongside this project, government can also focus on originating more research and development programmes. This should be done to explore more sustainable source of power generation and instead of using oil we can extract cheap gas-base solutions for electricity production, which will further decrease the cost of production and increase profit.
If private investment increases then healthy competition would be raised among the power generators which will led to economic welfare and also improvement in the quality of service. We also recommend the government to approve various range of energy efficiency programmes for the future of country’s energy security.
