State minister for power, energy and mineral resources Nasrul Hamid has asked state-run power entities to find alternative finances instead of government funds to accomplish development work.
They should arrange funds from stock market, bidders’ financing or export credit agency (ECA), he suggested on Wednesday.
Mr Hamid was speaking as the chief guest at an agreement-signing ceremony between Dhaka Power Distribution Company (DPDC) and Finland’s Hifab Oy-Engineers and Consultants Bangladesh joint venture.
The deal was done to deliver consultancy services to a project titled ‘Expansion and Strengthening of Power System Network under DPDC area’ at Bidyut Bhaban here.
The consultants will assist DPDC in implementing smart grid, improve online monitoring system, automation, fire extinguishment and video monitoring system.
Currently, only two state-run power entities-Dhaka Electric Supply Company and Power Grid Company of Bangladesh-are listed with the country’s bourses.
Around a half dozen companies are yet to have stock exchange listings.
At the event, Mr Hamid said this project would help ensure uninterrupted power supply to Dhanmondi and its adjoining areas.
DPDC has already installed underground cable at Dhanmondi, he added.
More areas would be brought into the underground cable network in phases, Mr Hamid mentioned.
Bangladesh is advancing fast to become a developed country by 2041 and no electricity cable is on the surface in developed countries, he said.
Cable TV operators and internet service providers are also required to keep their cables underground.
Mr Hamid urged the DPDC officials to develop skilled manpower to ensure better services for clients.
“You should think out of the box and go for innovative solutions to crises,” he cited.
With monetary assistance from China, DPDC is expanding and strengthening power system network.
Several power substations and a high-rise twin tower will also be built under the project apart from developing electricity transmission systems.
The minister also exhorted the consulting firm to help DPDC develop the systems similar to those in the developed countries.
DPDC managing director Bikash Dewan, power division additional secretary Shafiqullah and top officials of the joint venture also spoke at the programme.