No quick fix for energy crisis, imports limited by infrastructure: Commerce Minister

Commerce Minister Khondkar Abdul Muktadir has said there is no possibility of a quick solution to the country's ongoing energy crisis. However, he said the government is working on the issue with utmost priority.

He made the remarks while speaking to journalists after a meeting on determining export targets for the 2026-27 fiscal year at the Secretariat on Sunday (July 26).

The Minister said there is no scope to increase the country's domestic gas production. Currently, around 900 million cubic feet of LNG is being imported daily through two floating LNG terminals (FSRUs). Due to the existing infrastructure, it is not possible to import more than this, meaning the energy situation will not improve overnight.

He said the government has plans to set up two more FSRUs. Due to the energy crisis, industries are currently unable to utilise more than around 30 percent of their installed production capacity.

The Commerce Minister said despite various challenges, the target is to achieve 15 percent growth in exports in the current fiscal year. He also said there are plans to complete trade agreements with five to six countries by December this year.

He also said the Economic Partnership Agreement (EPA) signed with Japan will become effective after being presented in the next session of the Jatiya Sangsad.