Renewable Energy Policy approved
The Council of Advisers yesterday approved Bangladesh's Renewable Energy Policy 2008 for encouraging investment in this sector to generate electricity from renewable sources.
Under the policy, an independent institution styled Sustainable Energy Development Agency (SEDA) will be set up for development of the energy sector with government-private investment.
A meeting of the Council of Advisers with Chief Adviser Fakhruddin Ahmed in the chair approved the renewable energy policy at a time when there have been suggestions for reducing dependence on traditional sources of energy.
As per provision of the policy, both government and private investors in renewable energy projects will get relief from corporate income tax for five years.
The main renewable energy sources are solar energy, wind energy, biomass, biogas and hydropower.
It has been predicted that 5 percent demand for electricity would be met by 2015 through utilising renewable energy while 10 percent demand by the year 2020.
A board of SEDA will be formed with businessmen, stakeholders, NGOs and others concerned.
The meeting also approved in principle the Trademark Ordinance 2008 amending two sections of the existing ordinance.
Following the amendment, Patent, Design and Trademark Directorate will provide registration certificate for patents, designs and trademarks to an applicant in 150 days subject to fulfilling all preconditions.