Dhaka: A proposal to allocate Tk 61.15 billion, 61.5 percent higher than the revised budget in energy and power sector, has been made for the 2010-11 fiscal year as the field is in urgent need of huge funds for tapping fuels.

Finance Minister AMA Muhith in his budget announcement on Thursday proposed the allocation.

Muhith stated that the ongoing power crisis aggravated people’s sufferings, slowed down industrial production and hampered trade. “According to our plan, we have taken steps to produce 9,426 MW power by 2015.”

He informed the lawmakers that the government has identified resolution of power crisis as the top priority agenda. “We are working relentlessly for its development. We strongly believe that we will be able to create a rare example of development in this sector.”

As per government’s commitment made in the previous budget, agreements with two companies are in the process of being concluded for gas exploration in 3 offshore blocks of the country, he said about the sector’s development plans.

Besides, BAPEX has taken up programs to drill exploration wells at Kapashia, Mobarakpur, Sundolpur.

BDST: 1831 pm, 10 June 2010
MRH/SMS/MUA