No need to set up new power plants



Special Correspondent, Barta24.com
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Dhaka, (Barta24.com): To fulfill the power demand of 2030 we don’t need to set up new power generation plants. This was claimed in a report of the development and research organization of power cell.

The power cell thinks that the estimated power which will be generated by 2030 is almost ready with the addition of the power to be generated from the under construction plants, deal signed and letter of intent(LIO) issued for setting up power plants. Expected generated power if added to present generated capacity that would meet our requirements.

In the report it is said that the present net generation capacity is 16914 megawatt till 2018. Some plants will retire phase wise. About 9289 megawatt power will be available from the old plants in 2030.

34723 megawatt of power will be available in 2030 from the new plants which are now in the pipeline. In the same period there is plan to import 2336 megawatt of power. So the net generation capacity will stand at 46348 with old and new sources. If by that time we can set up power saving machineries then the demand will be 29619 megawatt so extra generation of power will be 16719 megawatt.

If the estimate remains correct then in 2030 our generation will be fifty percent excess than the demand. This is being observed as risky. This excess power might be a burden for us. In Bangladesh most uncertain matter is that the difference of day-night and peak and off peak hour use. So we are to count capacity charges for even the sitting plants. This picture is frightening in the winter. As for example, on Sunday(May 12) the demand in the morning was 8527 megawatt while at 8 in the evening demand shot up to 12500 MW making the difference of 4500 thousand MW.  This difference becomes more wide in winter and irrigation seasons.  For this reason PDB’s burden of deficit is increasing day by day due to the idle plants.

Director General of power cell Mohammad Hossain told Barta24.com that a committee was formed who opined that the plants in the pipe line is sufficient to meet the future demand. Normally there should be production capacity of 15 to 20 percent excess than the demand. Servicing should be done regularly so that no plant goes out of order.

If the future plants are constructed properly and in proper time then more generation capacity will be achieved in 2030 than the projected demand. For this reason the committee does not see for new deals for setting new plants, informed Mohammad Hossain.

However many observe this picture far from reality. They said that deal signing does not mean that power is generated. Because there are glaring examples of failure by many companies in front of us.  

In 2012 government signed deals for three coal based power plants with Orion Group at Maowa, at Khulna and at Chattogram. Those were supposed to be completed by 2016 and so on but though six years already elapsed Orion could not start any work of any plant. In the second phase Orion group also took the responsibility of more three power plants but the progress is nil percent. The group could not arrange finance for so many projects.

For this failure Orion group was reprimanded in a high level meeting on last October 17 of 2018. In the meeting it was warned that if time is extended up to October of current year then the deals will be automatically cancelled. However the power division’s censure does not match with the reality.

According to government’s master plan all these produced power of Orion set up coal based plants were supposed to add in the national grid in 2016 and 2017. So the government had to face a lot of problems for this non availability of power from Orion group. Being compelled government had to renew the much criticized rental power plant schemes. Earlier Summit Group also failed to set up a gas based power plant at Bibyiana

   

A remittance of 141 crore dollars came in 22 days



Staff Correspondent, Barta24.com, Dhaka
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In the first 22 days of this month of March, expatriates sent remittances of 141 crore 44 lakh dollars through legal channels and banking channels. According to this, an average of 6 crore 43 lakh dollars of remittances came to the country every day.

This information was revealed in the updated report of Bangladesh Bank on Sunday (March 24).

A review of the data showed that expatriates sent 141 crore 44 lakh 50 thousand dollars to the banks on the 22nd day of March. Of this, 18 crore 24 lakh 60 thousand dollars came through the state-owned banks.

Besides, 2 crore 15 lakh dollars came through specialized banks, 120 crore 47 lakh 80 thousand dollars through private banks and 57 lakh 10 thousand dollars through foreign sector banks.

According to the Central Bank, from March 16 to 22, expatriates sent 39 crore 54 lakh 70 thousand dollars to the country. From March 9 to 15, remittances of 50 crore 60 lakh 70 thousand dollars have arrived in the country. Besides, 51 crore 29 lakh 10 thousand dollars came from 1 to 8 March.

And last February, 216 crore 60 lakh dollars remittances came to the country which is the highest in the current financial year. 

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Market system must be freed from influence of invisible hand: FBCCI



Staff Correspondent, Barta24.com, Dhaka
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Business leaders have called for the supply chain to be freed from the influence of the invisible hand to stabilize commodity markets.

They agreed on this in the price monitoring committee coordination meeting of FBCCI at the FBCCI office in Motijheel on Sunday (March 24).

The meeting was presided over by FBCCI senior vice-president Md. Amin Helali. He said that common people often make harsh comments about the prices of goods. But most traders want to conduct their business transparently. All of us are getting a bad name because of a few people. It is important to get out of this situation. He commented that an ideal businessman can never become a black marketer.

The senior vice president of FBCCI Amin Helali urged the market committees to record the problems and obstacles in each market of the capital and submit them to FBCCI. He said that FBCCI will discuss the problems of traders at the highest level of the government.

Warning against traders who destabilize the supply chain, the FBCCI senior vice-president said that the supply chain must first be freed from the influence of the invisible hand to keep commodity prices within the reach of the masses. We will actively work to stop visible and invisible extortion in the markets.

The meeting was attended by retailers and wholesalers from different areas of the capital. At this time, vendors of different markets of the capital said that vendors with permanent licenses are not responsible for destabilizing the market. They also claim that those who buy and sell goods on the sidewalk or road by subsidizing various quarters are responsible for destabilizing the market.

Permanent licensed peddlers complain that when trucks loaded with goods enter the markets of Dhaka at night - the goods are exchanged 2 to 3 times while in the vehicle and the price increases. In this case, floating traders are largely responsible, but the government's market control agencies raid, jail and fine the permanent traders. And the temporary or floating traders disappear before the light of day. As a result, in all cases, the permanently licensed hawkers have to suffer the punishment.

It was informed in the meeting that the price monitoring committee of FBCCI will go to different markets of the capital and meet with the market committees in the next few weeks. At this time, Amin Helali urged the market committees to collectively move forward to solve the problem.

The meeting was attended by FBCCI director Hafez Haji Haroon-or-Rashid, Hafez Haji Mohammad Enayet Ullah, Azizul Haque, Kausar Ahmed, Md. Niaz Ali Chisti, Haji Alauddin, Md. Abul Hashem, Price Monitoring Committee members, market committee leaders and business leaders.

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Exim and Padma Bank are merging



Staff Correspondent, Barta24.com, Dhaka
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Private Padma Bank is going to merge with Exim Bank. In the meantime, Bangladesh Bank has also been informed about the merger of the two banks.

This decision was taken unanimously in the board meeting of Exim Bank on Thursday (March 14).

Chairman of Exim Bank Nazrul Islam Mazumder confirmed this to the media.

According to a director of Exim Bank, a decision has been taken to merge private Padma Bank with Exim Bank. Soon it will be sent to Bangladesh Bank for permission. It will come into force after the approval of the regulatory body.

The same information was also known from a related official of Padma Bank.

Earlier, Bangladesh Bank had said that weak banks would be allowed to voluntarily merge by December. Failing this, a final decision on them will be taken in March.

Recently, Bangladesh Bank published the Banks Health Index (BHI) and Heat Map. According to that report, Padma Bank is in the red zone and Exim Bank is in the yellow zone.

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Signing agreement of Global Islami Bank Plc with Bangladesh Bank



Staff Correspondent, Barta24.com, Dhaka
Signing agreement of Global Islami Bank Plc with Bangladesh Bank

Signing agreement of Global Islami Bank Plc with Bangladesh Bank

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Two agreements have been signed between Global Islami Bank PLC and Credit Guarantee Department of Bangladesh Bank. The agreement was signed to provide credit guarantee facilities to women entrepreneurs and the agricultural products processing sector with the aim of achieving the desired expansion of small scale industries, job creation and economic growth.

The agreement was signed on Tuesday (March 12) at Jahangir Alam Conference Hall of Bangladesh Bank, Head Office.

Under these two agreements, Global Islami Bank will be able to make unsecured investments in women entrepreneurs and agricultural products processing sector by taking the credit guarantee facility of Bangladesh Bank.

In the presence of Bangladesh Bank Deputy Governor Noorun Nahar and Executive Director Mohammad Jamal Uddin, Managing Director Syed Habib Hasnat on behalf of Global Islami Bank and Nahid Rahman, Director of Credit Guarantee Department on behalf of Bangladesh Bank signed the agreement. Global Islami Bank's Executive Vice President and Head of Investment Division SM Mizanur Rahman was also present on the occasion.

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