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No proposal to increase electricity prices: Finance Minister

  • Financial
  • 30 December, 2021 09:02:02

Photo: Collected

News Desk: Finance Minister AHM Mustafa Kamal has said that no proposal to increase the price of electricity has come to the Ministry of Finance yet.

The meeting of the Cabinet Committee on Economic Affairs and Public Procurement, chaired by the Finance Minister, was held on Wednesday (December 29) at noon. He told reporters after the meeting.

Asked whether the price of electricity would go up, the finance minister told reporters that people's affordability had decreased. The government has also taken various initiatives to increase it. I believe everyone is in a better position now. We have not yet received a proposal on whether to increase the price of electricity. I will share it with you when I come. Then you will also know.

Replying to a question on approval of two new power plants, the minister said, "We are doing 'no power no payment' in rental power plants." The rental power plants here were out of date. At the moment they will operate here for another two-one or five years, so there is no extra charge. When there is electricity from them then only that amount of electricity has to be charged. Here we have no chance to make a loss.

Mustafa Kamal further said, we have to build many more power plants. Because, in the meantime, the government is preparing to protect the country from the effects of climate change. Some of our power plants have been in the pipeline since we were connected to the international community, and we are no longer approving them. The approval of eight power plants in the pipeline has been canceled. As a result, we have to do more power plants here.

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