The power and energy sectors are grappling with a severe cash crunch, especially in US dollars, resulting in a backlog of about $5 billion in outstanding bills. The power sector alone accounts for $4 billion of the backlog, with the remaining $1 billion in the energy sector.
The State Minister for Power, Energy, and Mineral Resources acknowledged the crisis, highlighting the main issue as the scarcity of US dollars from the Bangladesh Bank. These sectors require at least $1 billion monthly but are receiving less than half, leading to a growing cumulative outstanding amount.
The Energy and Mineral Resources Division emphasizes the need for significant foreign currency, particularly in US dollars, for petroleum and gas imports. The ministry is exploring options, including negotiations with the Bangladesh Bank and considering a loan from the Multilateral Investment Guarantee Agency (MIGA) to address the situation.
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