With the rising cost of gas cylinders in Bangladesh, every bit of gas you save counts. Learning to save gas while cooking at home helps you save money and contributes to a more sustainable environment. Let’s explore effective tips to save cooking gas in rural and urban home kitchens. Ways to Save Gas While Cooking in Home Kitchens Cook with a Lid On Cooking with a lid on your pots and pans is a simple yet highly effective way to conserve gas. The lid traps heat inside the cookware, allowing food to cook more quickly and evenly. Without a lid, much of the heat escapes into the air, leading to longer cooking times and increased gas consumption.  By consistently covering your pots and pans, you can significantly reduce the amount of gas required for cooking. This small adjustment saves energy and speeds up meal preparation, making your kitchen more efficient. Read more: Fridge Smells Bad? Reasons and How to Get Rid of It Opt for Smaller Burners Choosing the right burner size for your cookware is crucial for efficient gas usage. When cooking with a small pot or pan, it is best to use a smaller burner. A large burner under a small pot wastes gas because the flame extends beyond the cookware, releasing heat into the air instead of focusing it on the pot.  Matching the burner size to the cookware ensures that all the heat is directed where it is needed which reduces cooking time and gas consumption. This simple habit can make a noticeable difference in your gas usage. Batch Cooking Batch cooking is a strategic way to save gas by preparing multiple meals at once. Instead of cooking individual meals throughout the week, you can cook larger quantities in one go, using the gas stove for a shorter overall time.  Read more: 10 Tasty Bangladeshi Recipes with Flu-fighting Nutrients Once cooked, these meals can be stored in the refrigerator or freezer and reheated later, which requires far less gas than cooking from scratch. This approach saves gas also time and effort during busy weekdays. By planning and preparing meals in batches, you can optimise gas usage and enjoy ready-to-eat meals. Soak Grains and Pulses Soaking grains, pulses, and beans before cooking is an excellent method to reduce cooking time and save gas. When these ingredients are soaked, they absorb water and soften, which significantly shortens the time needed to cook them.  For instance, soaked lentils can cook in a fraction of the time compared to unsoaked ones, meaning you will use much less gas. Additionally, soaking helps to break down complex carbohydrates, making the food easier to digest. Incorporating this simple step into your cooking routine can lead to both energy savings and improved meal quality. Read more: 10 Tasty Ilish Recipes for Bangladeshi Kitchen Use Flat-bottomed Cookware Flat-bottomed cookware is essential for efficient cooking and gas conservation. Pots and pans with a flat base make better contact with the stove, allowing for even heat distribution across the entire surface. This reduces cooking time and ensures that the heat is used effectively, rather than being wasted.  In contrast, warped or uneven cookware can result in uneven cooking and longer cooking times, leading to unnecessary gas consumption. Investing in good quality, flat-bottomed cookware can improve your kitchen’s efficiency, helping you save both time and gas while preparing meals. Keep Burners Clean Maintaining clean burners is key to ensuring your gas stove operates efficiently. Over time, food spills, grease, and debris can clog the burner openings, leading to uneven gas flow and a weaker flame. This inefficiency not only makes cooking slower but also increases gas consumption.  Read more: 10 Easy Snack Ideas to Stay Energized During Office Hours Regularly cleaning your burners helps maintain a steady, strong flame, which allows for faster and more efficient cooking. A well-maintained stove saves gas and extends the life of your appliance. This makes it a worthwhile habit to adopt for both energy savings and kitchen safety. Simmer, Don’t Boil Vigorously After bringing food to a boil, reducing the heat to a simmer can significantly cut down on gas usage. Many people mistakenly believe that boiling food vigorously cooks it faster, but in reality, it only wastes gas.  Simmering, which involves cooking at a lower, steady heat, is just as effective and far more efficient. Once your food reaches the boiling point, lowering the flame and allowing it to cook gently will ensure that you are not using more gas than necessary. This method saves energy and often results in better-tasting food. Read more: How to Safely Enjoy Street Food in Bangladesh Turn Off the Gas Early Turning off the gas a few minutes before your food is fully cooked is an effective way to conserve energy. The residual heat in the pot or pan continues to cook the food even after the gas is turned off, meaning you can save gas without compromising the quality of your meal.  This technique works particularly well for dishes like rice, pasta, and vegetables, which can finish cooking in the retained heat. By adopting this practice, you can gradually reduce your gas usage and make your cooking routine more efficient. Plan Your Meals Meal planning is an excellent strategy for optimising gas usage in the kitchen. By planning your meals, you can prepare dishes that require similar cooking times or temperatures, reducing the need to keep the stove on for extended periods.  Read more: Induction Cooker price in Bangladesh with Buying Tips For example, you might cook multiple items simultaneously or use the residual heat from one dish to start another. Additionally, planning helps you avoid last-minute cooking, which can lead to inefficient use of gas. A well-organised meal plan saves energy as well as makes your cooking process more streamlined and stress-free. Use the Right Size of Cookware Using cookware that matches the size of your burner is crucial for efficient gas consumption. A small pot on a large burner results in wasted gas, as the excess flame spills out around the pot instead of heating it directly.  Conversely, using a large pot on a small burner can lead to longer cooking times, as the heat is insufficient to cook the food efficiently. To maximise gas efficiency, always choose cookware that corresponds to the size of the burner. This simple adjustment ensures that the heat is focused where it is needed, reducing gas usage and cooking time. Read more: Deep Fryer price in Bangladesh with Buying Tips Gas Stove Maintenance Regular maintenance of your gas stove is essential for optimal performance and preventing gas leaks, which can be both wasteful and dangerous. Over time, burners can become clogged, and gas lines can develop leaks, leading to inefficient cooking and potential safety hazards.  By scheduling regular check-ups and cleaning for your stove, you ensure that it functions correctly and uses gas efficiently. This saves energy and extends the lifespan of your appliance. Proper maintenance is a small investment that pays off in reduced gas bills and a safer kitchen environment. Explore Alternatives: Pressure Cooker and Other Methods Exploring alternative cooking methods can further reduce your reliance on gas. Using a pressure cooker is one of the most efficient ways to save gas in the kitchen. Pressure cookers work by trapping steam inside, which increases the pressure and temperature, allowing food to cook faster. Whether you are preparing rice, lentils, or meat, a pressure cooker can cut cooking times by half or more. Moreover, pressure cooking retains more nutrients in the food, making it a healthier option. For frequent cooking, opting for a pressure cooker can lead to substantial gas savings. Read more: Microwave Oven price in Bangladesh with Buying Tips You can also use an induction cooker, electric stove, solar cooker, or microwave to complement your gas stove, especially on sunny days or when cooking smaller meals.  Using these electric cooking appliances, you can use much less gas compared to traditional cooking methods. While the initial investment might seem significant, the long-term savings on gas can make it worthwhile. Additionally, these alternatives often have faster cooking times and can be more energy-efficient for certain tasks. By diversifying your cooking methods, you can reduce your overall gas consumption, lower your utility bills, and contribute to a more sustainable lifestyle. Final Words Saving gas while cooking at home is not just about cutting costs but also about adopting smarter cooking practices that benefit your household and the environment. By implementing these simple tips, you can make your cooking process more efficient, reduce your gas consumption, and contribute to a greener world. Start making these changes today, and enjoy the benefits of more economical and eco-friendly cooking. Read more: Microwave Cooking: 7 Healthy Chicken Breast Recipes

Bangladesh Power Development Board (BPDB) is going to bear the brunt after recent enhancement of US Dollar rate as it will have to spend an additional amount of over Tk 7,300 crore to purchase electricity from the private sector. According to official sources, the BPDB's annual spending was roughly calculated as Tk 104,000 crore for purchasing electricity from the independent power producers (IPPs) for the fiscal year 2023-24. The total expense will now go up to about Tk 1,11,300 crore, according to officials familiar with the estimate this week. But after the increase in the rate of USD by the central bank through the introduction of a crawling peg system, the BPDB has been a great victim of such a decision. The Bangladesh Bank on May 8 unveiled the crawling peg exchange rate system and allowed banks to buy and sell US dollars freely near Tk117, as well as letting go of its regulatory power of the Smart rate, and hiking the repo rate. 360 MW Haripur unlikely to get extension despite low cost electricity: Sources Under this system, a crawling peg mid rate (CPMR) has been set at Tk117 per US dollar with immediate effect. Scheduled banks may purchase and sell US dollars freely around the CPMR with their customers and in interbank deals, the notice also said. A crawling peg system is a method of exchange rate adjustments that allows a currency with a fixed exchange rate to fluctuate within a band of rates. It is a hybrid of fixed and floating exchange rate systems. "The payment mode of the power purchase agreements (PPAs) with the IPPS is in USD. So, we have to incur a huge financial loss when the USD rate goes up", a top official of the BPDB told UNB. As the issue is very sensitive, preferring anonymity, he said the BPDB's loss will be enormous this year as the dollar rate went up in one go by Tk 7 to Tk 117 from the Tk 110. He said the extra burden of paying Tk 7,300 crore will complicate the situation when the International Monetary Fund (IMF) has been insisting on reducing government's loss in buying electricity from the private sector. Differing reserve figures stirring market instability and consumer price hikes He noted that The BPDB has to spend over Tk 12 in each unit of power generation while its average selling rate is about Tk 8.95 with incurring over Tk 3 per unit. "The IMF has repeatedly been putting pressure on the BPDB to raise the electricity tariff to reduce the financial loss. Now, after enhancement of the USD rate, the financial loss will be tough to manage", said another official of the BPDB. He, however, said despite the pressure from the international lending agency, the BPDB has not taken any decision to raise the tariff shortly. Power and energy sector likely to get Tk 804 billion allocation in next two fiscal years "The Power Division and the BPDB have been making their own calculations about the impact of the USD rate enhancement. The final decision will come from the government if any decision is taken politically to raise the power tariff", added. The BPDB annual report reveals that as the single buyer in the power sector, the organisation's operating expense was Tk 93,797.37 in the fiscal year 2023-24.

Bangladesh and Qatar want to expand the existing ties with broader cooperation in the areas of manpower, energy, trade and investment following the planned visit of Qatar’s Emir Sheikh Tamim bin Hamad Al Thani to Bangladesh next month. The two countries are in discussion to finalise nearly a dozen of cooperation documents which will be signed during the visit, said a source at the Ministry of Foreign Affairs. The two-day visit is likely to take place on April 21-22, he said.  The two sides are now working on the MoUs and agreements that will be signed after the Emir’s meeting with Prime Minister Sheikh Hasina. Cease-fire talks with Israel and Hamas are expected to resume Sunday in Qatar The Ministry of Foreign Affairs has already held an inter-ministerial meeting to discuss various aspects of the visit. In March last year, Prime Minister Sheikh Hasina had a meeting with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani on the sidelines of the United Nations Conference on Least Developed Countries (LDC5) in Doha. She sought increased energy, particularly LNG, from Qatar to meet the energy demands. The State of Qatar recognised Bangladesh as a sovereign State on March 4, 1974 following the 2nd OIC Summit held in February 1974. Qatar assures support for Bangladesh's media sector development Bangladesh opened its diplomatic mission in Doha on June 25, 1975. The State of Qatar reciprocated by opening its diplomatic mission in Dhaka in 1982. Bilateral relations between Bangladesh and Qatar are based on mutual respect, shared values, common religious ground, shared culture, and tradition. People-to-people contacts bolstered by more than four hundred thousand Bangladeshi workers who are highly appreciated as disciplined and hardworking is one of the dominant features of bilateral relations, according to the MoFA. Bangladesh and Qatar consider each other as brotherly countries and important development partners in materialising Bangladesh’s Vision 2041 and Qatar’s vision 2030. Read more: Bangladesh ambassador accredited to Hungary presents credentials to Hungarian president

Bangladeshi electronics giant ‘Walton’ has released BSTI’s 6-star energy rating certified split type air conditioner in the domestic market. In Bangladesh, only Walton brand ACs have achieved the BSTI’s 6-Star and 5.5 Star energy rating certificates. It is the most energy-efficient AC in South Asian countries, according to a media statement. Only Walton AC has a 5-inch TFT color display that shows various important information including running data, performance, timing, and indoor and outdoor temperature of AC. Walton AC can be controlled from anywhere through IoT smart control system using smart apps solution function and electricity bills are also calculated easily using the apps. Beside any defects of AC can be diagnosed through smart diagnosis system, reads the release. Sylhet’s Laki Begum becomes millionaire buying Walton fridge In this summer, customers are offered ‘nonstop millionaire’ on the purchase of Walton AC from any Walton Plaza, distributor outlet or online sales platform ‘E- plaza’ across the country under the Walton’s digital campaign Season-20. Besides, crores of taka sure cashback are also available. Customers will enjoy the benefits of season-20 from March 1 to till further announcement. Under the Walton’s AC exchange offer, customers can purchase Walton’s brand new model of split ACs with maximum Tk 23,000 discounts in exchange of their old or used ACs of any brands. Walton AC’s Chief Business Officer (CBO) Tanvir Rahman said, “Walton is manufacturing and marketing high standard ACs with world’s largest numbers of features. In continuation of this service, Walton has released the country’s first BSTI 6-star energy rating and South Asia’s most energy efficient AC for customers in the market. The price of this new model of AC is set at Tk 65,000.” Demand for Walton TVs constantly going up in European market He added that customers can check the energy efficiency of Walton AC by contacting Walton’s nearest sales point, service center or call center at 16267. Walton AC’s customers are getting one year replacement facility, 10-year guaranty on compressor, 3-year warranty on spare parts and 1-year free after sales service. Walton provides swift and fast after-sales service to AC customers through 82 service points across the country under the ISO Certified Service Management System along with 300 service partners. The skilled and experienced engineers and technicians of Walton are providing free service to AC buyers in every 100 days, added the release. Read more: Air Conditioner Brands, Buyer Guide, Models, with Price in Bangladesh

The United States has said it looks forward to working with Bangladesh to "enhance economic investment" over the next 50 years and beyond. The visiting US delegation met Salman F Rahman, Private Industry and Investment Adviser to PM Sheikh Hasina, to hear how government and private companies are collaborating. Eileen Laubacher, Special Assistant to the President and Senior Director for South Asia, US National Security Council (NSC); Michael Schiffer, USAID Assistant Administrator, Bureau for Asia; and Afreen Akhter, US Department of State Deputy Assistant Secretary for South and Central Asia, are on a three-day visit to Bangladesh. For over 50 years, the US has partnered with the government and the people of Bangladesh, providing over $8 billion to tackle issues like public health, education, energy, environment, food security, natural disasters, and more. Read: Want to create a new chapter in our relations: Foreign Minister says after meeting with US delegation The United States is one of the largest investors in Bangladesh and its largest single country export market, said the US Embassy in Dhaka. "Our leadership from Washington D.C. joined local economic experts to discuss a range of issues impacting the bilateral trade relationship," said the US Embassy. The United States "stands ready" to help Bangladesh create a business climate that attracts more investment from the US. The delegation discussed ways to improve the business environment, making investment in Bangladesh more attractive to American companies. Read: Bangladesh-US relations will be stronger based on environment, climate actions: Environment Minister The three officials, according to the US side, are visiting Bangladesh to discuss with the government of Bangladesh ways to "strengthen diplomatic ties, address challenges, and promote a shared vision for the advancement of mutual interests in the Indo-Pacific region." They also met Foreign Minister Dr Hasan Mahmud, Foreign Secretary Masud Bin Momen, civil society representatives, labour leaders, youth activists and those engaged in developing a free and uncensored media. "We discussed with the Foreign Minister how our two countries can work on mutual interests, including economic development, security, refugees, climate, labor, and trade," said the US Embassy in a separate message after the meeting. Bangladesh is an important partner in the Indo-Pacific region, it said. Read more: US Deputy Assistant Secretary meets Bangladeshi civil society members including Zillur and Adilur

Industries in Dhaka, Gazipur and Narayanganj continue to be afflicted by an acute gas crisis, even though Titas Gas Transmission and Distribution Company, the state-owned distributor of natural gas, claims the situation has improved. As reported in the media previously, garments and textiles firms in the industrial belt of these central districts have been suffering from an acute gas crisis for the last few months. “The factories are in dire straits,” a top top-level manager of a group of textile factories in Gazipur told UNB. Most of the industries in Gazipur do not get adequate supply of gas during their operational periods, the most crucial hours during which their machines need to be running. Inadequate supply manifests in the form of low pressure gas flow, he added. FBCCI urges for strengthening oil, gas exploration to ensure uninterrupted supply to industries Low pressure gas flow is akin to low voltage electricity - many appliances won't run, even though an electric charge is present. The textiles group official said that due to the lack of gas supply, production in various factories is being disrupted and they are on the verge of shutting down. In the ongoing gas crisis, important machines like generators and broilers in the dyeing section of the factories are not being run. This has been posing a great risk for the industries to continue their production and pushing them towards huge financial losses. “Many industries would not be able to pay the salaries and festival bonuses during the coming Eid if the situation does not improve,” said an industry owner. Industry insiders said there are more than 300 factories in Kaliakoir and other areas in Gazipur. All these industries have been suffering from the nagging gas crisis and some of them have already suspended their productions. 100% percent prepaid gas meters within four years: Nasrul Hamid Each of the industries has more than 1000 workers. But following the gas crisis, they have to reduce their production target while some of them use CNG at a higher cost to continue their operations. A similar situation is prevailing in the Mirpur, Tongi and Narayanganj areas, said Mohammad Hatem, Executive President, of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). He said that despite increasing the price, the government is not able to provide adequate gas. “Production in garment factories has come down to half due to non-availability of gas. Many buyers meanwhile are pushing for air shipments as the normal schedule for shipments has failed in keeping the commitment,” he said adding, some buyers are asking for discounts on the rates. More gas likely to be found in Sylhet’s Kailashtila field: Nasrul “Some customers are upset and cancel the order in such a situation,” he noted. Recently the Bangladesh Chamber of Industries (BCI) has also alleged that no industry in the country is able to run at its full potential due to the gas crisis. A Bangladesh Chamber Of Industries delegation, led by its president Anwar-ul Alam Chowdhury (Parvez), raised the allegation when it met Industries Minister Nurul Majid Mahmud Humayun at his ministry office. The lone chamber for industries said the prices of electricity and gas were increased on the pretext of increasing prices on the international market in the hope that the government would ensure their continuous supply. “But despite the declining trend of energy prices in the international market, it is being heard that the prices of electricity and gas will be increased again,” BCI said in a statement. Read more: Govt okays import of LNG cargo from Singaporean firm to meet gas demand It demands for a sustainable solution to the problem. “If a long term plan is given to the industrial sector in terms of power and gas supply, it can move forward accordingly." Titas Gas general manager Arpana Islam admitted the gas crisis. But she claimed that the situation has improved to some extent recently following measures to increase the gas supply. She advised to talk to Petrobangla when asked whether there is any possibility in near future to further improve the gas supply situation. Petrobangla official statistics reveal that in the last one month the total gas supply across the country has increased by just 100 million cubic feet per day (MMCFD) or so, leaving a deficit between production and supply of about 1500 mmcfd. The Petrobangla data shows that on February 16 it produced 2671 mmcfd gas including its import from abroad against a demand for more than 4000 mmcfd. The TItas Gas data also shows that about 30 power plants now remained out of operation due to gas shortage. Read more: BNP denounces move to double monthly rent for prepaid gas meters

Bangladesh's State Minister for Power, Energy and Mineral Resource Nasrul Hamid has said that each of the companies of the Petrobangla will be given target to drill wells in the gas fields for hydrocarbon exploration and if they fail, the officials concerned will be removed from  their posts. “Nobody will be speared and no persuasion will be accepted against any failure”, he told a seminar titled: “Gas Demand-Supply Scenario; Scope of Seismic Survey and Enhancement of Drilling Activities to Expedite Hydrocarbon Production” organised by Petrobangla at its auditorium in the city on Thursday (February 15, 2024). Expressing frustration over the activities of the Petrobangla, he said that there is huge deficiency in the organisation and its subordinate bodies to work as a team. “They don’t work in a coordinated manner. As a result, sometimes gas is found in a well, but processing plant remains unprepared  to supply the gas to the national grid,” he said. Read: Dhaka’s air quality still 'unhealthy', 2nd most polluted in the world this morning  “Sometimes it takes 4 years to get gas supply from a well to the national grid,” he added. He said Bangladesh Power Development Board (BPDB) and other entities in power sector have been successful in achieving the goal of 100 percent electricity access as they worked as a team. The seminar, with Petrobangla chairman Zanendra Nath Sarker in the chair, was also addressed by Energy Secretary Md Nurul Alam. Bakhrabad Gas Distribution Company’s Managing Director Anwarul Islam and Petrobangla’s general manager Meherul Hasan made presentation on the topic of the seminar. Nasrul Hamid said the Petrobangla planned to drill 48 wells to produce 500 million cubic feet per day (mmcfd) while the country’s demand will go up by 2000 mmcfd. Read: New executive committee of BSFA pays homage to Bangabandhu  “We’re all looking at Petrobangla to see effective results of its plan…, there is huge prospects in the gas sector,” he added. He said the country has many inefficient captive power plants which efficiency is 20 percent when some new power plants installed with 62 percent efficiency. “If we can divert gas to those efficient new power plants, power production cost will come down by 70 percent,” he noted. In the presentation the Petrobangla officials showed that it has planned to drill 100 wells across the country from which 1500 mmcfd gas will be produced by 2027 when gas demand will go up to 6000 mmcfd. Read more: Nasrul Hamid seeks ADB's help to create regional power market

The government of Bangladesh is caught up in a dilemma in choosing the right option to reduce the gap between the cost of power production and revenues generated from sales. “Top policymakers are divided over whether the government should go for increasing the power tariff further or issuing more bonds through the banking system,” said a top official at the state-owned Bangladesh Power Development Board (BPDB). He said if the government wants to raise the power tariff, either it has to do it before Ramadan or after Ramadan - these are the questions almost every day that are being discussed at the policy level. They are also analysing the impacts of floating more bonds to reduce the burden of soaring losses on the part of BPDB, he added. Read: Retail power tariff hiked 5% to Tk0.19 per unit for lifeline consumers, Tk0.36 on average for others According to official sources, currently, the production of each unit of electricity costs about Tk 12 while it sells at a rate of about Tk 6.7. It means the government has to bear the brunt of Tk 5.3 per unit, a top BPDB official told UNB.      The BPDB’s Annual Report 2022-23 shows, the BPDB, as a single buyer, generated 87,024 million kilowatt hours of electricity in 2022-23 fiscal at a total cost of TK 98,646.42 crore. Its per unit production cost was at Tk 11.33 while it was selling electricity at Tk 6.7 per unit incurring a loss of about Tk 4.63 per unit. The bulk tariff was last raised by 8.06 percent to Tk 6.70 from Tk 6.20 per unit on January 31 with effect from February 2023.  Read more: Over 10,000MW power in 29 projects in the pipeline, despite yawning overcapacity Against this, its revenues were Tk 50,858.25 crore, incurring a loss of Tk 47,788.17 crore, showed the BPDB Annual Report. With this huge loss, the government has been in great trouble as it has to purchase electricity worth Tk 82,778.25 from private sector power producers while it generates electricity worth Tk 13,306.62 crore from its own generation plants. The annual report also shows that the BPDB’s average per unit production cost from its own plants is Tk 7.63, while it is Tk 14.62 at the independent power producers or IPPs (private sector), at rental plants Tk 12.53, at public plants Tk 6.85 and imported power from India at Tk 8.77. The government purchases electricity from the private sector and India in dollars. Read more: Power generation capacity increased by almost 20% to cross 30,000MW in 2023 According to official sources, the government's cumulative outstanding bills have now jumped to about $5 billion, of which the backlog amount in the power sector is about $4 billion (about Tk 43,093 crore), and the remaining $1 billion is in the energy sector. State Minister for Power, Energy and Mineral Resources Nasrul Hamid also admitted the severity of the crisis. “Actually the crisis is not of local currency. Somehow we can manage it. But the main crisis is the dollar. We’re not getting dollars from Bangladesh Bank as per our needs,” he recently told UNB. He noted that the power and energy sectors need at least $1 billion a month to meet payment obligations. Read: Govt to raise retail power tariff this month In such a situation, the government recently introduced a number of bonds through Bangladesh Bank to facilitate the BPDB to clear some dues. “Initially, we have floated bonds worth Tk 5000 crore and it may go up to Tk 12,000 crore,” said a BPDB official on condition of anonymity, adding that it will not be enough to cover the losses, although the government is providing subsidies on a regular basis.     “That’s why the government will have to go for raising power tariff further or introducing more bonds,” he said adding, if more bonds are floated, it may squeeze the private sector’s credit from the banking sector.  But a final decision on what they would do still remains pending. Read more: Power, energy sectors are saddled with $5 billion outstanding payment amid dollar crisis: Sources

US President Joe Biden has written to Prime Minister Sheikh Hasina expressing his willingness to work together to achieve Bangladesh's economic goals. He also expressed willingness to partnering with Bangladesh on their shared vision for a free and open Indo-Pacific. "The United States is committed to supporting Bangladesh's ambitious economic goals and partnering with Bangladesh on our shared vision for a free and open Indo-Pacific," President Biden said in his letter seen by UNB. Entire world willing to work with Bangladesh as PM Hasina placed it in dignified position: FM Hasan As the two countries embark on the next chapter of the U.S.-Bangladesh partnership, the US President said he wants to convey the sincere desire of his Administration to continue their work together on regional and global security, economic development, climate change and energy, global health, humanitarian support, especially for Rohingya refugees, and more. "We have a long and successful history of working together to solve problems, and our strong people-to-people ties are the foundation of this relationship," the US President wrote to PM Sheikh Hasina. Hungary, Kyrgyzstan greet PM Sheikh Hasina on her re-election The Embassy of the United States of America shared the letter with the Ministry of Foreign Affairs recently.

In a significant move to stabilize its power sector, the Bangladesh government has secured Tk 2,062 crore through the issuance of special bonds. This initiative, aimed at clearing outstanding liabilities to private power plants, involves a collaboration with two prominent private banks: City Bank and Pubali Bank. A comprehensive agreement was inked on Wednesday at the Secretariat, marking a critical step in addressing the financial challenges faced by the power sector. As per this agreement, the government will issue bonds worth Tk 1,985 crore to City Bank and Tk 77.50 crore to Pubali Bank, as confirmed by the Ministry of Finance. Sources reveal that the government’s inability to disburse subsidy funds had left private power plants struggling to meet their financial obligations, leading some to the brink of insolvency. Read: Bangladesh's imports drop over 18% in first half of FY2023-24  To counter this crisis, the government’s issuance of special bonds comes with an 8 percent coupon rate, mirroring the repo rate set by Bangladesh Bank. Notably, any future fluctuations in the repo rate will correspondingly adjust the bond interest rate. At the term’s end, the government will settle the bank dues along with interest, subsequently reclaiming these bonds. Unlike typical 15–20 year bonds, these special bonds have a maximum tenure of 10 years, a move tailored to the urgent needs of the power sector. Key players in the power sector, including Summit Power, United Power, Confidence Power, Baraka, Kushiara, Doreen, and Akron Power, are among the beneficiaries of this initiative. The Finance Division also disclosed plans for phased agreements with other banks, including BRAC Bank and Bank Asia, to further address the sector’s liabilities. Read: To ensure good governance in banks, chairman should be from independent directors: Dr Atiur  Reflecting on the agreement’s significance, managing directors of several banks expressed optimism. While banks can leverage these bonds with Bangladesh Bank, it provides the government with crucial financial breathing space. This strategic financial maneuver stands as a testament to the government’s commitment to ensuring the stability and sustainability of Bangladesh’s power sector.