4. September 2012
2
04
/09
/September
/2012
21:14
The International Chamber of Commerce, Bangladesh (ICCB) reiterated its recommendation for using local coal for generating power, which the local chapter of the global trade-body considers as the cheapest option for the country to meet its increasing energy need.
“If mined through applying modern technology as used elsewhere, the country can ensure generation of in-expensive power,” the ICCB said in the editorial comment of its monthly news bulletin, released on July 19.
The report mentioned that the country till now discovered 2800 million metric tons per annum (MMTPA) extractable high quality bituminous coal in five coalmines spread over an area of 100 square kilometers in Rangpur and Dinajpur districts.
According to Power Sector Master Plan (PSMP), local coal is considered as 60 percent of the total energy source for generating 20,000MW coal-fired electricity by 2030 for 50 years or so.
The report referred to many countries those are using coal for generating electricity.
According to it, India produces 64 percent by using coal, China 81 percent, Australia 76 percent, USA 49 percent and South Africa 94 percent.
“Bangladesh is a rare example of a country that does not use its excellent coal for power generation,” the ICCB said and added that the businesses would like to reiterate its earlier recommendation for setting up domestic coal and gas based power plants to meet the power crisis under a more realistic and achievable target.
Citing experts’ opinion, the ICCB said there is no alternative to go for gas and coal as fuel for power generation to avoid “monumental expenditure on subsidy”.
Otherwise, it said, the government would have no option than to bear huge subsidy burden for producing and buying electricity at higher prices and selling it at subsidized rates.
The subsidy, according to a World Bank (WB) report, was nearly taka 56 billion or around 0.7 percent of gross domestic product (GDP) in 2011-12 financial year.
The international business forum said Bangladesh faces an “alarming situation” in meeting the increasing demand for credit facilities by the private sector as well as energy to achieve the targeted growth rate of 7.2 per cent in FY13.
However, to achieve a respectable level of growth, if not 7.2 percent, power has to be ensured without any further delay.
“If mined through applying modern technology as used elsewhere, the country can ensure generation of in-expensive power,” the ICCB said in the editorial comment of its monthly news bulletin, released on July 19.
The report mentioned that the country till now discovered 2800 million metric tons per annum (MMTPA) extractable high quality bituminous coal in five coalmines spread over an area of 100 square kilometers in Rangpur and Dinajpur districts.
According to Power Sector Master Plan (PSMP), local coal is considered as 60 percent of the total energy source for generating 20,000MW coal-fired electricity by 2030 for 50 years or so.
The report referred to many countries those are using coal for generating electricity.
According to it, India produces 64 percent by using coal, China 81 percent, Australia 76 percent, USA 49 percent and South Africa 94 percent.
“Bangladesh is a rare example of a country that does not use its excellent coal for power generation,” the ICCB said and added that the businesses would like to reiterate its earlier recommendation for setting up domestic coal and gas based power plants to meet the power crisis under a more realistic and achievable target.
Citing experts’ opinion, the ICCB said there is no alternative to go for gas and coal as fuel for power generation to avoid “monumental expenditure on subsidy”.
Otherwise, it said, the government would have no option than to bear huge subsidy burden for producing and buying electricity at higher prices and selling it at subsidized rates.
The subsidy, according to a World Bank (WB) report, was nearly taka 56 billion or around 0.7 percent of gross domestic product (GDP) in 2011-12 financial year.
The international business forum said Bangladesh faces an “alarming situation” in meeting the increasing demand for credit facilities by the private sector as well as energy to achieve the targeted growth rate of 7.2 per cent in FY13.
However, to achieve a respectable level of growth, if not 7.2 percent, power has to be ensured without any further delay.
ICCB advocates using local coal for power generation24 July 2012 | |
/http%3A%2F%2Fwww.energybangla.com%2Fe308767p11a%2Fimages%2Ficcb-advocates-using-local-coal-for-power-generation.jpg "ICCB advocates using local coal for power generation") | |
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