CA orders formation of independent institute for power, energy research
According to a master plan, an investment of $70-85 billion will be required in the energy sector and $107.25 billion in the power sector over the 2026-2050 period.
Chief Adviser Muhammad Yunus today (7 January) directed the authorities concerned to form an independent institute dedicated to research and development in the power and energy sector, stressing that it must function as a strong, autonomous body outside ministerial control.
"There must be a separate research and development institute. It cannot operate under a ministry. It should be a strong, independent institution that maintains links with similar organisations worldwide and assists the government in policymaking," he said.
The directive came during a meeting at the State Guest House Jamuna, where the Ministry of Power, Energy and Mineral Resources presented the Energy and Power Sector Master Plan 2026-2050, reads a statement from the CA's Press Wing.
Keep updated, follow The Business Standard's Google news channel
Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan, Finance Adviser Salehuddin Ahmed, Commerce Adviser Sk Bashir Uddin, Industries Adviser Adilur Rahman Khan, Bangladesh Investment Development Authority (Bida) Executive Chairman Chowdhury Ashik Mahmud Bin Harun, CA's Special Assistant on Posts, Telecommunications and ICT Faiz Ahmed Taiyeb, and senior officials from relevant ministries were present.
The master plan aims to ensure reliable, affordable and sustainable primary energy and electricity for all citizens through optimal use of domestic resources, enhanced energy security, improved efficiency and environmental responsibility.
During the meeting, policy gaps in the previous three master plans were identified and briefly reviewed. Discussions were held on implementing the new master plan in three phases – 2026-2030, 2030-2040 and 2040-2050.
According to the master plan, an investment of $70-85 billion will be required in the energy sector and $107.25 billion in the power sector over the 2026-2050 period.
Under first-track priority projects for 2026-2030, the plan includes an offshore exploration round, boosting gas production, ensuring LNG supply security, expanding refinery capacity and increasing strategic energy storage capacity.
Long-term strategic projects discussed in the meeting include offshore gas development, large-scale expansion of refining and petrochemical industries, development of hydrogen and ammonia infrastructure, geothermal energy development, and tidal and ocean wave-based power generation.
Thanking all concerned for the detailed presentation, the chief adviser said the power and energy sector is the backbone of Bangladesh's economy. "If this sector becomes strong, the economy will stand on its feet. The lives of every citizen are affected by this sector," he said.
Referring to past shortcomings, the chief adviser said previous initiatives were often unplanned and poorly structured.
"We must rethink everything from the beginning. Just because something has been done a certain way does not mean we have to follow the same path. Many projects were implemented in the wrong locations and structures. This should not happen again," he said, stressing the importance of a research centre to ensure discipline and proper frameworks.
He also instructed authorities to conduct research on alternative energy sources.
