2 Years Needed to Fully Resolve Power and Energy Crisis Despite Ongoing Efforts: Finance Minister

Stating that the country’s overall economic situation is currently facing significant challenges, Finance Minister Amir Khasru Mahmud Chowdhury has made it clear that there is no immediate or quick-fix solution to the existing gas and electricity shortages.

Speaking at an event organized by the American Chamber of Commerce in Bangladesh (AmCham) at a city hotel on Sunday (August 16), the Finance Minister noted that even if effective new measures are taken immediately to resolve the energy crisis, it could take at least two years for the country to reap the full benefits.

He highlighted that despite Bangladesh having sufficient power generation capacity, a major portion of the generated electricity cannot be properly utilized due to weaknesses in the transmission system. To overcome this situation, efforts are underway to build a sustainable and balanced energy mix comprising gas, coal, and renewable energy.

Addressing the ongoing instability in the banking sector, the Finance Minister emphasized that rather than relying solely on government assistance to fix financial complications like high non-performing loans (NPLs), special focus must be placed on bank restructuring and alternative financing mechanisms.