Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood on Thursday underscored the need to reduce system losses in the electricity sector to ensure stable power tariffs for consumers.
Speaking at the installation ceremony of the newly elected executive committee of the Forum for Energy Reporters Bangladesh (FERB) at the ministry’s conference room, the minister said lowering transmission and distribution losses is key to preventing tariff hikes.
“If we can reduce system losses in electricity, we will be able to maintain stable power tariffs,” he said, adding that the sector currently incurs substantial financial losses due to inefficiencies.
He noted that with overall transmission and distribution losses estimated at around 10 per cent, even a one per cent reduction could save approximately Tk50 lakh.
Responding to a question from reporters, Iqbal Hassan Mahmood said the government is preparing an aggressive plan to increase domestic gas supply, observing that no new gas wells had been drilled over the past 15 years.
Ensuring adequate gas availability remains a major priority for sustaining power generation and industrial activities, he added.
The minister also referred to a previous power generation policy that envisioned 35 per cent of electricity coming from the private sector and 65 percent from the public sector.
He said he is scheduled to brief the Prime Minister on the current power and energy situation and discuss steps needed to address existing challenges.
Earlier, Iqbal Hassan Mahmood greeted the newly elected FERB executive committee and presented crests to outgoing chairman Shamim Jahangir, newly elected Chairman Azizur Rahman Ripon, and Executive Director Shirajul Islam, who also moderated the ceremony.
