Bangladesh PM's Advisor Outlines Energy, Inflation and Reform Plans

Prime Minister's Advisor Dr. Rashed Al Mahmud Titumir addressed journalists during a comprehensive press briefing held yesterday on Thursday at the Secretariat in Dhaka. The high-level briefing focused extensively on critical national issues, specifically highlighting ongoing efforts to secure long-term energy independence, combat rising inflation, and implement vital structural economic reforms across the country.

Addressing the nation's energy sector strategy, Dr. Titumir announced that official tenders for oil and gas exploration within the country's maritime territory will be officially called in November of this year. Crucially, state-owned Bapex will be actively involved in these upcoming exploration activities. In addition to maritime prospecting, authorities are taking definitive initiatives to ensure the effective and sustainable utilization of domestic coal resources.

The advisor outlined an ambitious roadmap for the power and fuel sectors, stating that uninterrupted energy security will be firmly established across Bangladesh by the year 2029. To buffer against potential international supply shocks, the country currently maintains a stable three-month reserve of fuel. Furthermore, the government has set a definitive target to generate 5,000 megawatts of electricity exclusively from solar power by November 2029, bolstered by an overwhelming public response that has already yielded 36,000 applications for net metering.

Turning to social safety nets and economic relief, Dr. Titumir reported that a massive 4.1 million people are being brought directly under the coverage of specialized family cards, a measure projected to help reduce poverty levels by up to 5 percent. Additional targeted interventions include substantial agricultural support, highlighted by the successful waiver of loans amounting to up to 10,000 taka, which has directly assisted 1.2 million farmers nationwide.

The wide-ranging press briefing also touched upon institutional governance and administrative reforms, noting the ongoing operations of the Pay Service Commission. Through these synchronized administrative, fiscal, and energy policies, the government aims to stabilize the macroeconomy while safeguarding vulnerable populations against inflationary pressures.