They said in lieu of handing over the coalmines to the foreign or multinational companies, the government can extract coals on its own through forming such an organisation.

The discussion on energy policy of Bangladesh was organised by Oil-Gas, Mineral Resources and Power-Port Protection National Committee at the National Press Club.

"In least developed countries, 75 percent foreign direct investments are made in mineral resources sector which can not lead a country's overall development," said Prof Anu Muhammad, member-secretary of the national committee, referring to Nigeria and Venezuela.

He said mineral resources should be used only in the country, as the constitution says people are the ultimate owners of all resources.

"Any mineral resource cannot be exported," he said.

Anu Muhammad, also a professor of Jahangirnagar University, urged the government to nullify all agreements regarding mineral resources that it signed with foreign companies in the past.

He also recommended for increasing the capacity of Bapex and Petrobangla.

Speaking at the function, Akmal Hossain of Dhaka University said extraction and management of mineral resources such as coal and gas should be in the control of a nation.

"The mineral resources are considered as strategic commodity with a strategic value and the western countries always eye to take away the resources from our country," he said.

Presenting a keynote paper at the discussion, Nuruddin Mahmud Kamal, former chairman of Power Development Board, said the government should publish a 'White Paper' on energy and mineral resource ministry's activities during 2001-06 tenure.

Shiekh Mohammad Shahidullah, convener of the national committee, moderated the discussion, while Gias Karim of Brac University spoke among others.