Energy Bangla

Bangladesh Bank (BB) has introduced the Crawling Peg Mid-Rate (CPMR) system for buying and selling of foreign currencies and allowed banks to buy and sell US dollars freely at around Taka 117. The central bank today took the decision at a meeting of the Monetary Policy Committee (MPC) at its headquarters in the city. Terming the latest decision of the central bank as workable, former governor of Bangladesh Bank Dr... »

Distinguished fellow of the Centre for Policy Dialogue (CPD) Dr. Debapriya Bhattacharya on Sunday said that the purchasing power of marginal, middle class and lower middle class has decreased due to the direct impact of double-digit inflation. So the main budget for the next fiscal year 2024-2025 will be how to restore the stability of the macro economy and reducing the high inflation. He said this at a press briefing... »

The government has set a target to allocate Tk 804 billion for the power and energy sector in the next two fiscals as it attaches top priority to the sector, aiming to transform the country into a developed one. Of the total amount, Tk 383 billion will be allocated for 2024-25 fiscal year while Tk 421.3 billion for 2025-26 fiscal year. The government has also formulated short, medium, and long-term... »

Dhaka, 2nd May 2024, Thursday (PR): Summit Group today announced the appointment of Faisal Khan as the Managing Director of Summit Corporation, the largest independent power producer (IPP), LNG infrastructure and energy trading company in Bangladesh (effective 1st May 2024). “Faisal Khan is taking over as the Managing Director of Summit Corporation. It makes me so immensely happy to see our children grow up to be such good human beings,... »

An International Monetary Fund (IMF) delegation, led by Chris Papageorgiou, engaged in discussions with key Bangladeshi energy officials today (2 May) regarding the pressing financial challenges in the country’s power and energy sectors. The delegation first met with officials from the Power Division, led by Power Secretary Habibur Rahman, before progressing to talks with the Energy and Mineral Resources Division, and concluding with Petrobangla, the nation’s energy corporation. Despite the... »

Bangladesh and Qatar today signed five agreements and five memorandums of understanding (MoUs) to enhance mutual cooperation between the two countries. The agreements are: avoidance of double taxation and prevention of fiscal evasion with respect of taxes in income between Bangladesh and Qatar, cooperation in legal field between the government of Bangladesh and State of Qatar, maritime transport between the two countries, promotion and protection of mutual investment, and establishment... »

Bangladesh’s gross domestic product (GDP) growth in the second quarter of the current fiscal year, 2023-24, has been estimated at 3.78 percent. Bangladesh Bureau of Statistics (BBS) on Monday revealed this information as the quarterly growth in the second quarter (October-December 2023). According to BBS, based on currently available data, the GDP estimates for the second quarter of the FY 2023-24 have been assessed. As per the GDP growth rate... »

Pahela Baishakh, the first day of Bengali New Year-1431, is being celebrated across the country today with festivity, upholding the rich cultural values and rituals of the Bangalees A huge number of people are expected to join the “Nabo Barsho” festivities across the country, particularly in the capital city. Pahela Baishakh is one of the most colourful festivals through which the Bangalees bid farewell to the old year and welcome... »

After a month of fasting in Ramadan, the biggest Muslim festival Eid-ul-Fitr has brought the joy of sharing to Bangladesh. Hundreds of thousands of people have left Dhaka and other big cities for their hometowns and villages to celebrate the occasion with loved ones ahead of the festival on Thursday. With Bangla New Year Pahela Baishakh next Sunday, and weekends, they are enjoying a five-day holiday. Newspaper workers have been... »

The government will not provide energy including gas and electricity to any new industrial entities if they are not situated in government designated economic zones or industrial areas. Mentioning the e cabinet committees decision, taken on March 21, the central bank in a circular issued on Monday, (April 8, 2024) has directed banks to take clearance certificates given by the utility service providers from the newindustrial units, when they will... »