There are several conditions attached to getting a loan from the International Monetary Fund (IMF). One of them is increasing the price of electricity. At the same time reducing the subsidy in the sector. While the IMF has already disbursed the second tranche of the loan, it wants to see the fulfillment of several conditions for the upcoming third tranche. In continuation of this, the electricity department is taking initiatives to increase the price of electricity.
Meanwhile, Minister of State for Power and Energy Nasrul Hamid has indicated this to the media on Tuesday. He, however, gave a very different explanation as to why electricity prices had to rise. However, the IMF did not mention the condition. He said a huge deficit was created due to devaluation of rupee against dollar. That is, the dollar of 78 rupees now stands at 120 rupees. That is, a gap of about 40 taka per dollar has been created. This has resulted in a huge deficit. Electricity prices are being increased to meet this shortage.
It is known that the price of electricity will be increased by 5 percent from the current price from next March. But it can be prescribed for retail customers. And may be more for larger customers.
According to the sources of the Power Development Board, a large amount of electricity bills remain outstanding in various government and private institutions. Various activities are already being undertaken through bonds to coordinate the subsidy.
It is known that electricity prices were increased several times in 2010. In 2023, it will be extended three times. The last increase in electricity prices at the retail level was in February last year.
