Finance
Subsidy Prime Minister directs reduction in subsidy on gas and electricity
Dhaka, February 22: Prime Minister Sheikh Hasina has directed to reduce subsidy on gas and electricity in phases to prevent wastage and theft. He called for a gradual reduction in gas and electricity subsidies, especially in the commercial sector, especially where large industrial plants are being set up.
She made the remarks at a meeting of the Executive Committee of the National Economic Council (ECNEC) on Tuesday (February 22nd). The Prime Minister presided over the meeting by joining the NEC conference room via video conference from Ganobhaban. After the meeting, Planning Minister MA Mannan and State Minister for Planning Dr Shamsul Alam presented the Prime Minister's instructions.
The project 'Smart Pre-Payment Metering Project in Distribution Zone of Bangladesh Power Development Board' was approved at a cost of Tk 619.3 crore. The Prime Minister gave these instructions while discussing the project.
Elaborating on the Prime Minister's statement, the Planning Minister said that those who use electricity and gas in big sectors are not poor. Those who live in Gulshan are not poor. That is why he has asked to reduce the subsidy on gas and electricity in the big industrial sectors. He also called for a strategy to reduce subsidies.
The Minister said that subsidy is not the solution of any civilized country. She added that the country will have to gradually move away from gas-electricity subsidy. However, subsidies on gas and electricity for agriculture and low-income group will continue. However, subsidies for the rich will gradually go up.
