AdminDhaka, October 20, 2024: The
Foreign Investors' Chamber of Commerce and Industry (FICCI) hosted Luncheon
Meeting today (20th 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
