Tk 30 lakh crore debt burden on every person's head: Energy minister

Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku has defended the decision to cancel three gas prepaid meter projects funded by the World Bank and ADB, arguing that it is illogical to take new loans to install prepaid meters when gas supply in the country is inadequate.

Speaking at a citizen dialogue on 'National Renewable Energy Development Strategy Paper (2026-2030)' organised by the Consumers Association of Bangladesh (CAB) at Dhaka Reporters Unity (DRU) on Monday, July 6, he said, "There is no gas in the pipelines, no new wells have been drilled or gas extracted, yet crore upon crore of taka in loans are being taken to install prepaid meters — this is like buying a whip when there is no horse."

The minister said there is a debt burden of approximately Tk 30 lakh crore on every person's head. "I do not want to create any new debt traps. These projects have been cancelled in the public interest," he added.

Criticising the previous government, he claimed that projects were taken in the past for personal interests rather than public interest, which damaged the country's energy sector.

On electricity price hikes, Iqbal Hasan Mahmud Tuku said new electricity prices came into effect from June. Due to increased electricity usage in the hot weather, many customers' bills have risen.

He called on the media to verify factual information before publishing reports on this issue.

On long-term power sector reforms, the minister said electricity generation should remain under government control to allow price regulation. However, increasing private sector participation in power distribution could improve efficiency and oversight.

On renewable energy, he said the government aims to generate 1,000 megawatts of solar power over the next five years. Private investment will be encouraged, and the government will purchase the electricity generated.

The minister also said no agricultural land will be used for solar power plants or industrial zones. Instead, unused land belonging to the railways, roads and Water Development Board will be given priority for solar power projects.