Bangladesh’s power sector is grappling with a challenging dollar crisis, necessitating an urgent requirement of $376 million within six months to avoid load shedding. The sector’s demand for foreign currency has risen significantly, with import expenses for coal, furnace oil, and electricity from India reaching $494 million in July, $513 million in August, and $501 million in September. Additionally, the sector faces outstanding bills totaling $977 million from the financial year 2022-2023.
To manage foreign loan installments, the Power Development Board (PDB) must allocate $24 million in July, $12 million in August, $17 million in September, $22 million in October, $7 million in November, and $30 million in December. To alleviate the situation and meet growing energy needs, the PDB has requested Rs 31,000 crore of subsidies over six months. This would significantly support the power sector and ensure smooth operations while reducing dependence on fossil fuels and improving renewable energy prospects.
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