BANGLADESH’S ENERGY MASTER PLAN BY JAPAN: $300 BILLION INVESTMENT WILL BE NEEDED BY 2050

The report finds that during the fiscal year 2019-20 to FY2023-24, the BPDB’s total annual expenditure increased 2.6-fold against revenue growth of 1.8 times

In a groundbreaking legal move, Bangladesh has become the first South Asian country to challenge the legality of a Japan-backed fossil fuel-based power plan with the Supreme Court (SC), marking a historic step towards climate justice.

Bangladesh’s power deals were uniquely designed to benefit a vested quarter, and they were replete with money-making loopholes.

The first and most negative impact that countries like Bangladesh face from depending on gas is the unreliability of its price.

Bangladesh’s Fossil Fuel Misadventure Offers Sobering Lessons on how reliance on expensive fossil fuels can lead to economic turmoil, underscoring the need to proactively transition to cleaner energy sources. 

At the root of the problem lies the neo-liberal ideological approach that since then turned the power sector into a profit-making enterprise for a handful of local and foreign businesses.

In the 15-plus years of the last government, the energy and power sectors of Bangladesh have been all but destroyed.

The new interim government of Bangladesh faces an urgent need to reform Bangladesh’s power and energy sector. These reforms must address a broad range of areas, including policies, laws, and government bodies. 

“We are at a pivotal moment. It’s time to overhaul our energy policies and fully commit to a just transition to renewable energy.”