ADB for raising power tariff
Make power sector commercially viable: Country director
Star Business Report
ADB Country Director in Bangladesh Hua Du has stressed the need for raising power tariff, saying present rate is the lowest not only in South Asia but also in the Asia Pacific."It [power generation, transmission and distribution] is a business. So, if you incur loss, who is going to give you the money?" she said speaking at the monthly luncheon meeting of Foreign Investors' Chamber of Commerce and Industry (FICCI) at Dhaka Sheraton Hotel yesterday. Hua Du said it is very important to make power sector commercially viable and profitable, noting that substantial progress has to be made in the power sector to run things efficiently and it is always good to keep the government out of business activities. The whole sector should be unbundled to make different companies efficient, the ADB country chief said praising the performance of the Power Grid Company of Bangladesh (PGCB) and Dhaka Electric Supply Company Limited (Desco). Performances of these two companies have improved tremendously in the last four years, she said adding they are now making profits. One of the priority areas of ADB in Bangladesh is to support the infrastructure projects, she said. "We do it for the private sector so that they can grow and create jobs." Constructing four-lane Dhaka-Chittagong highway, computerisation of Chittagong port to make it more efficient are some of the priority areas where the ADB is going to extend its support in the coming days, she mentioned. On the other hand, ADB is also extending support to improve the railway network and there are some proposals the government is going to undertake with the financial support of the bank, she mentioned. Some of the big foreign groups like Tata, Abu Dhabi and Asian Energy are already working to invest here and that is why the ADB is planning to increase its involvement in the infrastructure in Bangladesh, the country director added. Lauding Bangladesh's efforts in education, healthcare and other social sectors, she said Bangladesh is the only country in South Asia excepting Sri Lanka that is going to achieve major millennium development goals. Masih Ul Karim, president of FICCI, also spoke at the meeting while Peter May, vice-president of the chamber, was also present.
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Hua Du (2-L), country director of Asian Development Bank, speaks at the monthly luncheon meeting of Foreign Investors' Chamber of Commerce & Industry (Ficci) yesterday in Dhaka. Masih Ul Karim (2-R), Ficci president, MA Matin (R), Ficci secretary, and Peter A May, Ficci vice president, are also seen. PHOTO: FICCI |