July 23, 2024, 11:15 am

Projected loss of PDB to reach Tk18,000cr in 2025: CPD

  • Update Time : Sunday, June 23, 2024
  • 52 Time View
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TDS Desk:

The Power Development Board’s (PDB) losses will soar by 196% to Tk18,000 crore in 2025, the Centre for Policy Dialogue (CPD) said, attributing the surge to the government’s “flawed” policies.

“Even with increased electricity prices and government subsidies, the PDB will face substantial losses,” CPD Research Director Dr Khondaker Golam Moazzem said on Sunday during a discussion on budget allocation in the power sector held at the BRAC Center in the capital’s Mohakhali.

The CPD director said the government’s plan to produce 60,000 megawatts of electricity by 2041 is ambitious.

He argued that a maximum of 35,000 megawatts, including a 25% reserve, would suffice.

“Currently, electricity generation falls short of demand due to distribution and transmission limitations. This results in load shedding despite surplus electricity, while also paying a large amount as capacity charge for power plants,” he said, explaining the rising electricity bills, as well as PDB’s projected loss.

Dr Moazzem also criticised the operations of the Bangladesh Petroleum Corporation (BPC), noting inconsistencies in their financial reports.

“The BPC shows losses at the beginning of the year but claims profits by the end. The method they use to determine oil prices needs scrutiny,” he said.

Advocating for greater reliance on renewable energy, Dr Moazzem called for a reduction in the use of fossil fuel-based power plants, labelling them “environmentally harmful and expensive”.

He criticised the government’s increasing import of costly fossil fuels and emphasised focusing on domestic gas exploration.

He also urged the government to develop a smart grid system and improve transmission and distribution lines to ensure an uninterrupted power supply.

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