DHAKA - Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood announced today that the government has adopted a new investment-friendly policy to attract private investment in the energy and power sectors. Speaking at a seminar titled 'Crisis in the Energy Sector: Prospects and Ways Forward' organized by the Forum for Energy Reporters Bangladesh (FERB) at Dhaka Club, the minister emphasized the need for sustainable infrastructure alongside financial opportunities for investors.
Mahmood noted that the policy includes various incentives such as a five-year tax holiday to make it attractive for investors. He mentioned that the government is also working on alternative arrangements and timing to address possible crises in LNG supply and is cautious about setting up coal-fired power plants due to developed countries' reservations.
The minister highlighted the government's aggressive plan for solar power generation, mentioning a new policy formulated within two months. He said private investment would be encouraged, particularly in rooftop solar power, and discussions have already been held with the Dhaka City Corporation administrations.
Mahmood informed that investors would be able to install rooftop solar power facilities and collect bills from customers, reducing dependency on government support. He also spoke of a partnership model for using government land in large solar power projects, where the government could become a partner by providing land.
In addition, the minister discussed plans to involve the private sector in importing fuel oil to increase competition and strengthen the supply system. He rejected allegations that the fuel import policy was being formulated to benefit a particular company, assuring that it would apply equally to all. Mahmood urged against spreading confusion or worsening the crisis in the energy sector for political purposes and assured that attractive investment proposals from the private sector would be approved quickly.
