Tk100cr allocated for renewable energy

The government has proposed a special allocation of Tk100 core for renewable energy to encourage its development and use.

"Considering the importance of renewable energy in building a developed, prosperous, smart and sustainable Bangladesh by 2041, I am proposing a special allocation of Tk100 crore to encourage its development and use," Finance Minister Abul Hassan Mahmood Ali said during his budget speech at the Parliament today (6 June). 

The minister also said, "As part of the long-term master plan for power generation, a plan has been adopted to import about 9,000 MW of electricity from neighbouring countries by 2041 under regional and sub-regional cooperation programmes and a target of 40% of the total power generation from renewable energy has been set." 

About 1,160 MW of electricity through grid interconnection and 1,600 MW from coal-based power plants are being supplied from India to the national grid of Bangladesh, he added. 

"The Rooppur Nuclear Power Plant construction project at Ishwardi in Pabna is under implementation. After its implementation, a total of 2,400 MW of electricity in two units will be connected to the national grid, which will accelerate economic development of the country," he further added. 

With an eye towards battling inflation, Finance Minister Abul Hassan Mahmood Ali unveiled the Tk7.97 lakh crore proposed national budget for the fiscal year 2024-25.

He announced the largest-ever budget for Bangladesh before the Parliament today, a long way from the first budget of Tk786 crore placed by Tajuddin Ahmad for the FY1972-73.

This is the country's 54th budget and the 25th of the Awami League (AL) government in six terms. This budget will also be the 21st under the rule of Prime Minister Sheikh Hasina in different terms.

The theme of the budget for the next fiscal year is "Pledge towards building a happy, prosperous, developed and smart Bangladesh" in pursuit of turning the country's economy into its previous sound state.