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Dhaka, October 20, 2024: The Foreign Investors' Chamber of Commerce and Industry (FICCI) hosted Luncheon Meeting today (20^th October 2024) at The Pan Pacific Sonargaon Dhaka, focusing on the critical theme of “Sustainable Energy for Bangladesh.” The event gathered industry leaders, policymakers, and academics to discuss pressing challenges and potential solutions for the country’s energy sector.

The meeting featured a distinguished lineup of speakers, including Chief Guest Muhammad Fouzul Kabir Khan, adviser for the Ministry of Power, Energy and Mineral Resources. In his address, Khan emphasized the government's commitment to fostering a sustainable energy future for Bangladesh, highlighting ongoing initiatives to enhance energy efficiency and diversify energy sources.

The keynote address was delivered by Dr. Ijaz Hossain, former Dean of the Bangladesh University of Engineering and Technology (BUET) and a prominent professor in the Department of Chemical Engineering. Dr. Ijaz Hossain presented a detailed analysis of Bangladesh's energy landscape, noting significant shifts in energy consumption patterns. He pointed out that, as of 2022-23, the industrial sector's consumption of grid electricity was only half that of the domestic sector, a stark contrast to 2010 when both sectors consumed similar amounts. This change, he noted, is largely due to the expansion of rural electrification.

Dr. Hossain also addressed the urgent need to maintain natural gas production levels, warning that without the drilling of at least ten new wells annually, the country may face increased reliance on imported LNG. He forecasted that gas demand could reach 4,622 MMcfd by 2030, posing a significant challenge to Petrobangla’s capacity to supply.

Nowshad Ali, Country Manager of GE Vernova Bangladesh, served as the moderator, guiding the discussions and facilitating a dynamic exchange of ideas among panelists and attendees. Among the panelists, Dr. Badrul Imam, an Honorary Professor at the University of Dhaka, discussed the geological implications of energy sourcing, while Dr. M. Rezwan Khan, former Vice-Chancellor and Professor Emeritus at United International University, examined the role of renewable energy in achieving sustainability. Mollah Amzad Hossain, Editor of Energy & Power Magazine, provided insights into media coverage and public awareness of energy issues.

The discussions highlighted several critical recommendations, including the necessity for improved regasification terminals, accelerated exploration for natural gas, and a diversified energy portfolio that incorporates coal and renewable sources. Dr. Hossain urged the government to enhance competition in the transport sector by allowing various fuel options and stressed the importance of monitoring gas misuse to ensure efficient resource management.

As the meeting concluded, participants expressed optimism about collaborative efforts between the government and private sectors in addressing Bangladesh’s energy challenges. The event underscored the urgency of transitioning to a sustainable energy framework that can support the country's growth while safeguarding environmental and economic interests.

The FICCI luncheon meeting served as a vital platform for dialogue on sustainable energy strategies, bringing together influential voices dedicated to shaping a resilient energy future for Bangladesh.

Among other dignitaries a good number of representatives of stakeholders, Diplomates, High officials of FICCI member companies, FICCI Board of Directors and Advisors attended the meeting.

About FICCI

Foreign Investors’ Chamber of Commerce & Industry (FICCI) the apex chamber of multinational companies has been working as the development frontier of Bangladesh by creating significant footprints in economic growth since its journey started in 1963. As a leading chamber, FICCI represents Foreign Investors from Thirty-five (35) countries across the globe in Twenty-one (21) sectors in Bangladesh. In its six decades of excellent journey, around 210 member companies of this chamber are contributing around 30% internal revenue of the government and representing more than 90% inward FDI in Bangladesh.

 For further information

T.I.M Nurul Kabir

Executive Director

Foreign Investors’ Chamber of Commerce and Industry (FICCI)

Email: info@ficci.org.bd, Website: www.ficci.org.bd

Subarna Mostafa

Specialist, Communication, PR & Stakeholder Management

Foreign Investors’ Chamber of Commerce and Industry (FICCI)

Email: subarna.mostafa@ficci.org.bd