Energy sector becomes focal point of economy amid global financial crisis, ME situation: Finance Minister
Finance and Planning Minister Amir Khosru Mahmud Chowdhury stated that the energy sector has emerged as the central pivot of the national economy due to the global economic crisis and volatile conditions in the Middle East.
The Minister made these remarks as the chief guest at a seminar titled "Sustainable Power and Energy: Driving Investment in Bangladesh," organized by the Foreign Investors' Chamber of Commerce and Industry (FICCI) at InterContinental Dhaka on Monday .
Outlining the government's economic and energy reform roadmap, he detailed key policy initiatives aimed at stabilizing the macroeconomy.
Highlighting renewable energy targets, the Minister announced full tax exemptions and incentive packages for solar power generation.
Addressing natural gas exploration, he stated that offshore and onshore exploration efforts are being fast-tracked. Alongside contract-based exploration, government plans include strengthening Bapex to drill 150 new wells, with approvals already granted for necessary equipment procurement. To resolve natural gas shortages, plans are underway to commission three to four new Floating Storage Regasification Units (FSRUs) involving Korean, Chinese, and American private investors.
Regarding institutional reforms, Amir Khosru outlined plans to split the National Board of Revenue (NBR) into separate policy-making and implementation wings to eliminate conflicts of interest and curb corruption.
The event featured panel discussions with Xu Xiang, President and Managing Director of Chevron Bangladesh; Professor Dr. Mohammad Tamim, Vice-Chancellor of Independent University, Bangladesh; Dr. Nazneen Ahmed, Executive Director of the Centre for Policy Dialogue (CPD); and Fazlul Hoque, Administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), alongside FICCI representatives, prominent business leaders, economists, and domestic and foreign investors.
