Energy crunch causes $16.6b loss a year: Study

Bangladesh's energy crunch causes $16.6 billion yearly loss in the gross domestic product (GDP), reveals a study.
"If we assume 10 percent of the energy shortfall is in the export-oriented manufacturing sector, then $1.33 billion less output is in this sector due to the power and energy crisis," said Ijaz Hossain, referring to his study.
Hossain, a Buet (Bangladesh University of Engineering and Technology) professor, placed yesterday the findings of his study on 'impact of power and gas crisis on the manufacturing sector' at the luncheon meeting of the Dutch-Bangla Chamber of Commerce and Industry.
Held at Sonargaon Hotel in Dhaka, the meeting was also addressed by ASM Alamgir Kabir, chairman of Power Development Board, Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association, and Alphons Jean Antoine Joseph Marie Gertrude Hennekens, ambassador of the Netherlands.
In his chief guest's speech, the PDB chief said the government plans to produce 10,000 megawatt (MW) of electricity in the next five years.
Alamgir Kabir said 100MW additional electricity will be added in the national grid from a rental power plant by the first week of next month.
The chief of the knit sector's trade body said apparel makers have to face the ordeal of delayed shipments due to frequent power outages and inadequate gas supply, Fazlul Hoque said.
"The real challenge lies in improving efficiency of civil servants to implement projects,” Dutch envoy Hennekens said.
Osama Taseer, general secretary of the Dutch-Bangla chamber, moderated the programme, chaired by Rakesh Mohan, the chamber's president.