At least two years needed to resolve electricity, gas crisis: Finance minister

Finance and Planning Minister Amir Khosru Mahmud Chowdhury today said Bangladesh has inherited significant challenges in infrastructure, and power and gas shortages cannot be addressed overnight.

A minimum of two years might be required to fully address the issue, he added.

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"However, I can assure you that we are trying to do everything in the fastest possible time. We are not wasting a single moment on this matter," he said.

The economy cannot move forward without electricity and gas, he said.

He made these remarks at an event of the American Chamber of Commerce in Bangladesh at InterContinental Dhaka.

"Everyone has spoken about electricity and gas. We are struggling with this problem. We are in the midst of it. I must admit that this too is something inherited from the past," he said.

"As for gas -- everything regarding floating LNG terminals and onshore storage facilities is being finalised, which you will learn about within the next few days," he said.

A large amount of electricity has been generated in the power sector, but transmission has become a major problem, he added.

"To be honest, the statistics we are receiving are actually much lower than the real figures. So power generation and the energy mix is a matter we are finalising from a policy standpoint."

"We will have renewable energy and gas-based electricity. Coal is a resource we have, and we are also examining the coal-based option."

"We are moving forward with an integrated energy mix, and we have more or less determined this combination. We hope that in due time we will see a major transformation in the electricity and gas sectors," he added.