Dhaka, May 19 -- Energy prices will soon be aligned with the international market, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said on Thursday.
"Bangladesh will soon reset electricity and gas prices on the basis of international market rates," the state minister said in replying to a query from journalists at a workshop in the capital.
"The government is planning to phase out subsidies that the energy and power sector has been receiving for a long time," he said.
The state minister said also that work is underway to formulate a policy for determining the electricity and gas prices that align with international rates.
Meanwhile, Titas Gas Transmission and Distribution Company has recently made a proposal to Bangladesh the Energy Regulatory Commission (BERC) seeking to hike residential gas prices.
The government's main goal now is to provide affordable electricity. As a part of the goal, an initiative has been taken to set up a solar power plant with a capacity of 2,000 MW within the next two years, he added.
On the other hand, the countrymen faced continued to experience of record load-shedding, with the third-highest-ever electricity shortage of 2,837MW recorded on Tuesday despite an increase in gas supply compared with the day before.
The three highest load-shedding in the country's history were recorded over three days after Saturday, with the highest of 2,925 MW recorded on Sunday.
Sources said, with an installed capacity of 23,332MW, Bangladesh produced about 11,000MW or 47 per cent of the installed capacity in four hours on Monday.
Electricity production remained below 10,000MW, which is about 40 per cent of the installed capacity, for 14 hours on the day (Monday). Published by HT Digital Content Services with permission from The New Nation. For any query with respect to this article or any other content requirement, please contact Editor at firstname.lastname@example.org