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mybangla24.com
Yesterday's overborrowing caused today's fuel shortage
Dr. Abdul Latif Masum 13 July 2022, 20:35
There is a proverb, ‘Borrowing to eating ghee, causes lack of money in the future'. The implication of the word is that if he does not spend according to his income but borrows for luxury, he will soon face scarcity. Just as it is true of the individual, it is also true of the state. The ruling party of Bangladesh is eager to climb the highway of development. It is not in their grammar that development progress is supposed to be achieved according to a moderately realistic plan for a nation.
They want to show the abundance of their development in roads, ports, installations and service sectors. Allegations of corruption, waste and waste are skyrocketing as an adjunct to development. Unplanned supply of electricity to the whole country has now put the country in trouble. Over the last few weeks, power outages have caused a catastrophe across the country.
Along with the hardships in the public life of the country, it has affected the industries, trade and commerce and the overall public life. However, in the budget of 2021-22, it has been said that there will be 50 percent additional production in power generation. There is an allocation of Tk 28,000 crore for this. Power Development Board officials say there will be no change in the power shortage until adequate gas supply is ensured. Because 80 percent of electricity generation is gas dependent.
Experts say the catastrophe is due to the unrealistic and economically ineffective nature of the ruling government. They added that the disaster was caused by an imported liquid gas-fired power system.
According to sources, the supply is now 900 units instead of 1,600 units. Movable, power generation has been dependent on imported liquefied gas since 2016. At that time the price of each unit of gas was four dollars. Now it has increased to ড 41. The government says the price has risen because of the Russia-Ukraine war. And if gas is imported at this price, then the overall economy will soon collapse.
The Power Development Board says the country is now facing a power deficit of 1,400 MW. According to recent estimates, 11,546 MW is being generated against the demand of 12,946 MW. Out of 152 gas-fired power plants, at least 24 are closed.
Energy expert Ayaz Hossain said the government could have overcome the current situation if it had maintained the continuity of compressed gas in 2016. Gas-based power generation has been in deficit since 2016. But the government has not taken any action. This acute power shortage has caused concern in trade and commerce, especially in industrial production.
Abdul Matlub Ahmed, former president of the FBCCI, said in the context of severe power shortages, this would disrupt production and increase the price of manufactured goods. He added that this would lead to a reaction to inflation and the international market. The FCBCI has already opposed the government's decision to keep shops and businesses open till 8 pm.
Jasim Uddin, the current president of the FBCCI, has demanded power rationing in the interest of continuing production in the factory. The country's energy security remains fragile, said a senior vice president and energy adviser to the Consumers Association. The government's decision to import gas to benefit special quarters has caused the misery. He criticized the extension of the deadline for the impossibly expensive oil-fired and rental power plants.
He said that it has been possible to generate two lakh five thousand megawatts of electricity through artificial means. He mentioned that the government has spent Tk 13,000 crore in the fiscal year 2020-21 on such unused electrification. These benefits have been shared by 35 government-friendly non-governmental organizations. Apart from this, 12 more companies have misappropriated Tk 8,630 crore for various reasons. The adviser feared that such expenditure would double in this financial year.
However, the speeches and statements of the leaders of the government were against this situation. They announced in March that they would bring 100% electricity under their control. The whole nation has to pay the price for the gimmick they have used to show the fountain of development to the outside world.
Load shedding is going on in Dhaka city. Elsewhere in the country, power went out seven or eight times. The question is how many hours there is electricity? Experts say that this situation has arisen due to unplanned development and unsustainable expenditure in the power sector in the last 10 years. During the tenure of those in power, private power plants have turned into white elephants in the last 10 years. For this the government has to pay thousands of crores of rupees. During the tenure of this government, private power plants have become an easy way to lose money.
Private power plants are embezzling thousands of crores of rupees without generating electricity. There are also allegations of money laundering in the name of importing equipment in this sector. This is due to the uncontrolled and unplanned economic policy of the government. This has to do with the rising value of the dollar.
Not just load shedding, it will affect every sector of production and livelihood. Thus, public life has become unbearable due to abnormal commodity prices. In our case, the opposite has happened in the case of the controlled economy that different countries have introduced during the Corona period. Borrowing ghee to eat now has a pull in foreign exchange. According to the Bangladesh Bank, the reserves in May were বিল 42 billion.
But the actual reserves are about বিল 34 billion. Because Bangladesh Bank is a foreign country
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mybangla24.com
Yesterday's overborrowing caused today's fuel shortage
Dr. Abdul Latif Masum 13 July 2022, 20:35
There is a proverb, ‘Borrowing to eating ghee, causes lack of money in the future'. The implication of the word is that if he does not spend according to his income but borrows for luxury, he will soon face scarcity. Just as it is true of the individual, it is also true of the state. The ruling party of Bangladesh is eager to climb the highway of development. It is not in their grammar that development progress is supposed to be achieved according to a moderately realistic plan for a nation.
They want to show the abundance of their development in roads, ports, installations and service sectors. Allegations of corruption, waste and waste are skyrocketing as an adjunct to development. Unplanned supply of electricity to the whole country has now put the country in trouble. Over the last few weeks, power outages have caused a catastrophe across the country.
Along with the hardships in the public life of the country, it has affected the industries, trade and commerce and the overall public life. However, in the budget of 2021-22, it has been said that there will be 50 percent additional production in power generation. There is an allocation of Tk 28,000 crore for this. Power Development Board officials say there will be no change in the power shortage until adequate gas supply is ensured. Because 80 percent of electricity generation is gas dependent.
Experts say the catastrophe is due to the unrealistic and economically ineffective nature of the ruling government. They added that the disaster was caused by an imported liquid gas-fired power system.
According to sources, the supply is now 900 units instead of 1,600 units. Movable, power generation has been dependent on imported liquefied gas since 2016. At that time the price of each unit of gas was four dollars. Now it has increased to ড 41. The government says the price has risen because of the Russia-Ukraine war. And if gas is imported at this price, then the overall economy will soon collapse.
The Power Development Board says the country is now facing a power deficit of 1,400 MW. According to recent estimates, 11,546 MW is being generated against the demand of 12,946 MW. Out of 152 gas-fired power plants, at least 24 are closed.
Energy expert Ayaz Hossain said the government could have overcome the current situation if it had maintained the continuity of compressed gas in 2016. Gas-based power generation has been in deficit since 2016. But the government has not taken any action. This acute power shortage has caused concern in trade and commerce, especially in industrial production.
Abdul Matlub Ahmed, former president of the FBCCI, said in the context of severe power shortages, this would disrupt production and increase the price of manufactured goods. He added that this would lead to a reaction to inflation and the international market. The FCBCI has already opposed the government's decision to keep shops and businesses open till 8 pm.
Jasim Uddin, the current president of the FBCCI, has demanded power rationing in the interest of continuing production in the factory. The country's energy security remains fragile, said a senior vice president and energy adviser to the Consumers Association. The government's decision to import gas to benefit special quarters has caused the misery. He criticized the extension of the deadline for the impossibly expensive oil-fired and rental power plants.
He said that it has been possible to generate two lakh five thousand megawatts of electricity through artificial means. He mentioned that the government has spent Tk 13,000 crore in the fiscal year 2020-21 on such unused electrification. These benefits have been shared by 35 government-friendly non-governmental organizations. Apart from this, 12 more companies have misappropriated Tk 8,630 crore for various reasons. The adviser feared that such expenditure would double in this financial year.
However, the speeches and statements of the leaders of the government were against this situation. They announced in March that they would bring 100% electricity under their control. The whole nation has to pay the price for the gimmick they have used to show the fountain of development to the outside world.
Load shedding is going on in Dhaka city. Elsewhere in the country, power went out seven or eight times. The question is how many hours there is electricity? Experts say that this situation has arisen due to unplanned development and unsustainable expenditure in the power sector in the last 10 years. During the tenure of those in power, private power plants have turned into white elephants in the last 10 years. For this the government has to pay thousands of crores of rupees. During the tenure of this government, private power plants have become an easy way to lose money.
Private power plants are embezzling thousands of crores of rupees without generating electricity. There are also allegations of money laundering in the name of importing equipment in this sector. This is due to the uncontrolled and unplanned economic policy of the government. This has to do with the rising value of the dollar.
Not just load shedding, it will affect every sector of production and livelihood. Thus, public life has become unbearable due to abnormal commodity prices. In our case, the opposite has happened in the case of the controlled economy that different countries have introduced during the Corona period. Borrowing ghee to eat now has a pull in foreign exchange. According to the Bangladesh Bank, the reserves in May were বিল 42 billion.
But the actual reserves are about বিল 34 billion. Because Bangladesh Bank is a foreign country
