Fouzul seeks Swiss investments to expedite Bangladesh’s development

Adviser for the Ministry of Power, Energy and Mineral Resources Muhammad Fouzul Kabir Khan on Sunday sought Switzerland's investments in Bangladesh’s business and trade to expedite its development.

“Swiss businessmen can participate in the development efforts of Bangladesh through making investments in business and trade for the mutual benefits,” said the adviser when a delegation led by Swiss Ambassador to Bangladesh Reto Renggli paid a courtesy call on him at the ministry office at the Bangladesh secretariat in Dhaka.

During the meeting, Fouzul discussed the initiatives he has taken after getting charge of the ministry to ensure transparency and accountability in the power and energy sector, reports BSS.

He said the Swiss companies well be welcomed to participate in various development activities of Bangladesh.

The adviser informed the delegation that he recently visited Matabari mega project, which includes deep sea port, economic zone, railways and road projects.

“But it is not possible to get real benefits from just setting up power plant, until other projects are implemented alongside. Unplanned development projects in the power and energy sector have been taken and implemented during the previous government's tenure,” he added.

In most cases, projects were implemented at a cost which was much higher than the reasonable cost, the energy adviser observed.

Fouzul said that he will give importance to implementation of small projects along with large projects at low costs.

Emphasis will also be given on renewable energy generation and use of environment-friendly energy, the adviser added.

Congratulating the adviser for getting the responsibilities of three important ministries, the Swiss ambassador said that it was a very challenging task.

The adviser expressed the hope that the measures, including the suspension of the controversial law in the power and energy sector and the cancellation of Section 34A of the BRC Act, open tender, removal of the secretaries from the post of chairman of the companies under their control, will play a significant role in ensuring transparency and accountability.