Bangladesh is planning to allow the private sector to import petroleum products to reduce the subsidy burden, according to Energy and Mineral Resources Minister Iqbal Hasan Mahmud.
The government also plans to privatise power distribution for the same reason, he told a recent discussion on energy security.
His ministry has invited private sector proposals to take over electricity distribution companies.
His ministry has invited private sector proposals to take over electricity distribution companies.
The government had already received the prime minister’s consent to move ahead with the initiative, he said.
“The government can generate electricity and sell it in bulk, but retail distribution should be handled by the private sector,” he was quoted as saying by domestic media outlets.
The country now imports and produces energy and electricity at higher costs, but sells them at subsidised prices, driving up the subsidy burden in the energy sector.
Fibre2Fashion News Desk (DS)
