STAR BUSINESS REPORT

The war in the Middle East has exposed weaknesses in Bangladesh’s energy sector, highlighting long-standing gaps in planning and implementation, speakers said at an event yesterday.

They stressed that the country must increase both offshore and onshore gas exploration and diversify energy import sources to ensure long-term energy security.

To attract local and foreign investment in solar and renewable energy, they suggested reducing tariffs, offering low-interest loans, cutting bureaucratic delays, and ensuring strong political commitment.

The event, titled “Navigating the Global Energy Shock: Impact on Bangladesh and Way Forward”, was organised by the Dhaka Chamber of Commerce & Industry (DCCI), in collaboration with the Bangladesh Sustainable and Renewable Energy Association and the Infrastructure Development Company Limited, at the DCCI auditorium.

ENERGY SECURITY ‘CRITICAL’

“Country’s energy security is in a critical state, like a patient on its deathbed,” said Prof M Shamsul Alam, dean of the Faculty of Engineering of Daffodil University and vice energy adviser to the Consumers Association of Bangladesh.

He said only short-term fixes are being used instead of long-term solutions.

“Industries and other sectors are already suffering as emergency measures replace proper planning,” he added.

Alam also claimed that during the Awami League government’s tenure, structural problems were deliberately created across the energy supply chain, including oil, gas, and electricity.

He stressed these problems existed from the ministry level down to companies and licensing authorities, leading to favouritism and unequal access to licences, especially in sectors like CNG and LPG.

“This allowed a few groups to gain control, while others were denied fair opportunities. The government has yet to address these systemic issues,” he said.

Alam criticised the lack of collective action among business leaders. “Some individuals managed the crisis through personal influence, but most organisations stayed silent out of fear of government retaliation,” he said.