Operation of DGF is going on secretly!

Serajul Islam Siraj, Special Correspondent, Barta24.com, Dhaka
Photo: Collected

Photo: Collected

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The operation of DGF (Gas Development Fund) is going on secretly. State Minister Nasrul Hamid himself said he did not know what kind of amendments were being made.

Consumer Association of Bangladesh's (CAB) energy advisor Prof. Dr. Shamsul Alam said, if something wrong is done, there will be no way but to go to court. Many of these funds have been nine-six. Consumers are paying to form this fund. But their interests were not met. This money is people's money. Who has given the authority to lend a hand here to the Ministry or Petrobangla.

At a recent meeting, the draft policy was discussed. Several officials who attended the meeting confirmed the amendment to Barta24.com. They said the amendment raised at the meeting proposed that the fund be referred to as quotation money from gas sales. Apart from this, the interest of the loan given from this fund is being taken to Petrobangla's fund and the opportunity is being kept to use it for the purchase of LNG.

The fund was created to be used for oil and gas exploration, development and reform. On July 30, 2009, the Bangladesh Energy Regulatory Commission (BERC) ordered an increase in gas prices. With the formation of GDF, consumers are charged an additional charge of 46 paisa per cubic meter which came into effect from August 2009. It was said in the public hearing that the domestic companies could not implement the project in time due to the financial crisis. Having to sit down with the project for foreign help, it delays the work a lot. And in the case of lending, donors have different conditions and orders. This often hinders the real purpose. So this fund will be interest free. Domestic companies will take up the project with the money of this fund so that the country's gas crisis can be overcome quickly, consumers will get gas at affordable prices.

However, interest was later charged at 4 per cent. It was said that in order to take the project funded by this fund, proper verification and selection has to be done and BERC prior approval has to be taken. There are allegations of using this fund later. About two and a half thousand crore rupees is to be deposited every year. During the corona period, the government also put its hand on this fund. Ministry sources said that Taka1,000 crore has been taken from this fund.

Deputy Secretary for Energy Dr. Muha. Moniruzzaman told Barta24.com regarding the mishandling of DDFthat it is coming to an end in January 2022. That is why I know that the time is being extended. And maybe there are some corrections. Asked whether the draft would be available, he said the matter was being looked into by Petrobangla's finance department and they would have to be contacted.

Petrobangla Director (Finance) Harun Aur Rashid also refused to provide the draft. He said the ministry is looking into the matter and can talk to them. In response to a question, he told Barta24.com, "As far as I know, there is no fundamental change." This policy expires on January 31, 2022, so it is being extended. Maybe there might slight amendments. When asked about the interest on the money in the Petrobangla fund, he said, "As far as I know, this is not happening." The money of the fund should be the money of interest in that fund.
However, several officials who took part in the meeting told Barta24.com that the meeting had raised objections to the draft citing the sale of gas as a fund and the draft to be included in the Profit Petrobangla fund. For that reason the subject may come to mind about avoiding.

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