Govt seeks $1b budget support from WB

Muhammad Fouzul Kabir Khan, adviser to the power, energy and mineral resources ministry, yesterday sought $1 billion from the World Bank as budgetary support.

"At present, the ministry owes $2.2 billion to suppliers in import costs of power and energy," he said.

Abdoulaye Seck, the World Bank's country director for Bangladesh and Bhutan, met the adviser at his office leading a four-member delegation, according to a press release.

Kabir mentioned that the interim government was formed with many pressing mandates.

"On our first day at office, we have suspended activities under the much-criticised Quick Enhancement of Electricity and Energy Supply Act 2010 and abolished the government's power to set energy prices without any public hearing," he said.

He added that initiatives have been taken to amend or abolish such acts after examination.

"From now on all public procurement rules will be followed," said Kabir.