Policy is underway to allow private sector for importing fuel: Nasrul

State Minister for Power, Energy and Mineral Resources Nasrul Hamid today said that a policy preparation work is underway to allow private sector for importing and selling fuel.

“Ensuring supply of fuel at a lower price is the main problem now. Apart from the government, private sector can also import fuel and sell it to the consumers,” he said this while addressing a seminar at Bidyut Bhaban as a guest of honour.

Forum for Energy Reporters Bangladesh (FERB) organised the seminar titled 'Energy Transition: Global Context and Bangladesh' with its chairman Shamim Jahangir delivered the welcome speech.

FERB Executive Director Rishan Nasrullah moderated the seminar, while Director General (DG) Power Cell Engineer Mohammad Hossain and Power secretary Md Habibur Rahman spoke among others.

Nasrul Hamid said that the entrepreneurs can not only import fuel but also to sell fuel at the retail level.

He said furnace oil is already being imported by the private entrepreneurs, adding, “If there is a new policy, they will be able to import and distribute all types of fuel. Entrepreneurs will import and sell it to the pump owners.”

The state minister said, “We are considering our purchasing capacity in transition fuel type. We can't bring anything beyond our purchasing capacity at this moment.”
He also emphasised on expansion of electric vehicles and renewable energy.

“We have to use own resources to ensure environment friendly development and increase fuel efficiency. Successful use of modern technology with efficiency will put effective contribution to face the next challenges,” Nasrul Hamid added.

In the same seminar, Energy Secretary Mahbub Hossain said, “There is still no obstacle in the policy to import LNG. If any private entrepreneur imports LNG, we will welcome.”

Energy expert Professor M Tamim said the country will need at least $20 to $25 billion annually to import electricity and energy by 2030.

Presenting the keynote paper, he said of which $11.7 billion will be required for gas import and $5 billion for coal import, $9 billion for electricity and liquid fuel energy import.

Referring three international studies, Professor Badrul Imam said that at least 34 TCF gas is reserved in the country. He called for strengthening ground based exploration activities for gas.

The seminar was organised on the occasion of the 22nd anniversary of FERB.