Bangladesh Invites Private Investment to Ease Energy Crisis
The government of Bangladesh is seeking to ease its energy crisis by inviting private investment in the sector. Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmood said that private investment is needed, especially in the energy sector.
Under a new policy, qualified private companies will be allowed to import and sell fuel oil alongside state-owned distributors like Padma Oil, Jamuna Oil, and Meghna Petroleum. Consumers will have the choice of buying fuel from either public or private operators, with prices determining their preference.
The government aims to increase competition in the market, which it believes will improve supply chains and prevent black-market activity. The policy is being modeled on India's system, where both public and private firms operate in the fuel market.