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Over the last one decade, private sector has put forth an immense contribution to country’s power generation, thanks to the real-time sustainable planning and investment-friendly policies taken by the government.
With acknowledging and involving more private companies, the country has increased its power generation capacity more than four times, and its consumers thrice. It needs no emphasising that the concerted efforts both by the public and private sector have given us the ray of hope to materialize the aim to illuminate every corner of the country and cover every person under the power facilities within 2021.
It is good news that with a 54.35 per cent contribution to the total electricity generation, the private sector has been proved as the driving force of country’s power production. Private sector has invested about USD 12 billion over the last 10 years by setting up more than 50 power plants. It is indeed the consequences of an enabling environment for private investors.
The government is committed to turn Bangladesh into a middle-income country by 2021 and a developed country by 2041. For that, Bangladesh needs to generate 24,000MW, 40,000MW and 60,000MW electricity by 2021, 2030 and 2041 respectively. Certainly attaining such targets will require huge investment from the part of the private sector in the near future. The existing policy support should be sustained to encourage private sector in investing power generation, transmission and distribution. In this regard, the tenure of the present government needs extension as the country has had bitter experience in development of power sector earlier during the BNP regime.
Reports say that private sector has planned to invest USD 50 billion in the next 12 years to enhance their participation further in power sector development. It is good to note that private investors have expressed their interest in investing as independent power producers (IPPs) as well as private partners in the public-private partnership (PPP) initiative to set up at least 55 plants to generate some 12,000 MW power or more. Now what is necessary is to encourage private investors to invest in power transmission and distribution besides production.
We hope with the efforts from the parts of both the public and private sector, Bangladesh will be able to reach its target within the stipulated time. Considering power sector as the bedrock of a country’s sustainable development, we appreciate all the concerted endeavours of both the public and private sector in revolutionising country’s power sector.