Power and energy sector gets Tk 30,317cr in national budget for FY2024-25
BI Report, Dhaka || BusinessInsider
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Finance Minister Abul Hassan Mahmood Ali on Thursday proposed allocating Tk 30,317 crore for the Ministry of Power, Energy and Mineral Resources in the budget for FY 2024-25.
“Considering the importance of the power and energy sector, I propose an allocation of Taka 30,317 crore in FY 2024-25. The allocation for this sector was Tk 34,819 crore in FY 2023-24," he said in his budget speech.
Of the total Tk 30,317 crore, Taka 29,230 crore has been allocated for the Power Division while Tk 1,087 crore for the Energy and Mineral Resources Division in FY 2024-25.
In building a Smart Bangladesh by 2041, Mahmood Ali said, emphasis has been laid on smart power generation, transmission and distribution systems, including the introduction of a smart grid system.
"Our government is attaching the highest importance and top priority to the development of the power sector and is implementing various projects to improve the generation, transmission and distribution systems," he said.
Already, in fulfillment of its pledge, the government has brought 100 percent of the population under the electricity coverage and plans have been taken to increase the power generation capacity to 40,000 MW by 2030 and 60,000 MW by 2041, said Mahmood Ali.
He said there are plans to increase the power transmission lines to 24 thousand circuit kilometers by modernizing the grid.
Besides, the government has formulated the Integrated Energy and Power Master Plan (IEPMP) as part of the integrated master plan for the power and energy sector, he said.
In 2009, the power generation capacity was only 4,942 MW, which has now increased to 30,277 MW (including the captive and renewable energy), Mahmood Ali said adding currently, 27 power plants with a capacity of 9,144 MW are under construction.
Per capita power generation increased from 220 KWh to 602 KWh, he said.
Following the construction of 7,246 circuit-km of transmission lines in the last 15 years, the total number of transmission lines has increased to 15,246 circuit-km, he said.
