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different countries in the international context, a draft has been prepared to update the existing “Bangladesh Offshore Model PSC 2023” with the aim of attracting international oil companies. The Legislative and Parliamentary Affairs Division has vetted the prepared draft.
Taking this opinion into consideration after the final approval of the “Bangladesh Offshore Model PSC 2026” (draft), new gas and oil exploration activities in deep and shallow sea areas will be strengthened.
“And there are plans to convene a new offshore bidding round soon,” Tuku said.
While answering another query from Mosharraf Hossain MP, the minister said currently the country has 29.74 trillion cubic feet (TCF) recoverable gas reserves.
Of this, 22.11 TCF of gas has been extracted as of December 31, 2025, and 7.63 TCF remain available. If no new gas field is discovered and gas is supplied at the current rate, approximately 1,700 million cubic feet per day, the remaining 7.63 trillion cubic feet of gas can be supplied for approximately 12 years based on the available capacity.
While answering another question from Sultan Mahmud Babu MP, the energy minister said the government has a multifaceted plan to reduce import dependence in the energy sector and increase domestic gasoline and fuel production.
Till date, 26 wells are being drilled and worked over under the 50 and 100- well drilling and workover plans at various stages.
Bangladesh Petroleum Exploration & Production Company (BAPEX) has taken steps to conduct seismic survey activities.
Feasibility studies have been planned for the construction of open-pit coal mines in the northern and southern parts of the Barapukuria coalfield in Dinajpur, the development of an underground mine in a 15 sq km area in the north-western part of the Jamalganj coal field, spanning Naogaon and Joypurhat, and the establishment of an underground mine in the Khalaspir coalfield in Rangpur. In addition, there is a plan to develop an underground mine to extract coal from the Dighipara coalfield in Dinajpur.
Govt’s tobacco
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control, in Bangladesh, however, the tax policy analysis remains constrained by misconceptions.
He said the assumption that increasing prices will reduce revenue is flawed, as there is no solid research evidence to support this claim. On the contrary, evidence suggests that higher prices discourage adolescents from initiating smoking — thereby helping to protect youths, he added.
He also noted that the decision to revoke the ban on e-cigarettes in the recently passed Tobacco Control Ordinance in the parliament was made without any clear explanation, while sending a dangerous signal to the public.
He stressed raising public awareness about the risks of tobacco use alongside taxation and tobacco control laws.
Prof Shafiun N Shimul, director of the Institute of Health Economics (IHE) at Dhaka University, presented the proposal jointly prepared by IHE, Economics for Health, and the World Health Organization (WHO).
The proposal recommended merging the low and medium tiers of tobacco products and setting the maximum retail price at Tk 100 -- currently Tk 60 and Tk 80 respectively -- while increasing tax by Tk 10 for the high tier and Tk 15 for the premium tier, alongside imposing Tk 4 per packet as a specific tax.
If the proposed tax measures are effectively implemented, it is projected that approximately 5,00,000 adults will be encouraged to quit smoking, while more than 3,72,000 young people will be deterred from initiating tobacco use, he said, adding that it is also anticipated to generate an additional Tk 44,000 crore compared to the previous fiscal year.
Prof Syed Akram Hussain, chairman of Department of Clinical Oncology at Bangladesh Medical University, said the economic burden of tobacco-induced non-communicable diseases far exceeds the revenue generated from tobacco taxation, as tobacco use damages not only the lungs but multiple vital organs.