Power- energy sector need $170 billion by 2041: Nasrul Hamid

[Black_cats]

Power- energy sector need $170 billion by 2041: Nasrul Hamid​

BSS
03 May 2023, 17:12

DHAKA, May 3, 2023 (BSS) - State Minister for Power, Energy and Mineral Resources Nasrul Hamid said around $170 billion investment is needed in the power and energy sector by 2041.

“The government is providing special incentives to foreign investment,” he said yesterday (Tuesday) while addressing a session on "Strengthening the Future of Economic Growth of Bangladesh.”

The US Chamber of Commerce organized the high-level discussion titled “US-Bangladesh Economic Partnership: Shared Vision for Smart Growth”.

Nasrul Hamid said investors will be benefited in power and energy sector as well its sub-sectors such as LNG, renewable energy, smart grid, smart distribution, electric vehicle infrastructure, onshore and offshore exploration, upgrading gas infrastructure, setting up petrochemical industries, reducing Green House Gas (GHG) emissions and smart gas distribution.

He said Prime Minister Sheikh Hasina has given the vision of transforming into a smart Bangladesh aimed at building the golden Bangladesh, dreamt by Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

Implementing the vision, financial investment as well as technical and knowledge-based cooperation is needed, the state minister said.

“Investment will come not only from multilateral development agencies, but also from public and private sectors. At the same time, skilled manpower will be developed in cooperation with developed countries,” he added.

Among others, Eric Walker, president of Chevron's Bangladesh Office, and Dr John Ardil, vice president of Exxon Mobil gave speeches in the session.

Power- energy sector need $170 billion by 2041: Nasrul Hamid | News

DHAKA, May 3, 2023 (BSS) - State Minister for Power, Energy and Mineral Resources Nasrul Hamid said around $170 billion

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[bluesky]

Power- energy sector need $170 billion by 2041: Nasrul Hamid​

BSS
03 May 2023, 17:12

DHAKA, May 3, 2023 (BSS) - State Minister for Power, Energy and Mineral Resources Nasrul Hamid said around $170 billion investment is needed in the power and energy sector by 2041.

$170 billion in 20 years means only $8.5 billion per year. A very small sum of money for the BAL party when read in light of BD's inability to produce a simple electrical appliance costing $10.0.

There remain two other alternatives, though. One is to borrow left and right from China, Japan, the EU, and America and go bankrupt.

No one knows how to repay the money. The country is already nearly bankrupt and borrows dollars from the IMF, WB, and other countries.

But, why bother to borrow? Why not BD asks America to send a few Dollar Printing Machines? This is how all other countries without a technological development capacity have already developed economically.