Budget allocation not enough to meet the target

Budgetary allocation is critical for transforming our renewable energy capacity into a fully sustainable energy system that is inclusively aligned with the national policies.

— Hasanul Haq Inu Chairperson of JS committee on info

Bangladesh will not achieve its target of converting 40 percent of its energy sources into renewable energy by 2040 if the budgetary allocation does not increase, said Hasanul Haq Inu, chairperson of the parliamentary standing committee on information, during an online press conference yesterday.

"...the prime minister has announced to convert at least 40 percent to renewable energy within 2040. But the way we are going about it now, I think it will be difficult to achieve that goal," he said.

"But there is still time if we plan properly now and allocate from this year's budget to that end," he added.

He said budgetary allocation is critical for transforming our renewable energy capacity into a fully sustainable energy system that is inclusively aligned with the national policies.

Inu was addressing a webinar of the Bangladesh Energy Prosperity 2050 (BEP 2050) Conference, which is set to commence today at Bangabandhu Military Museum in Dhaka, reports our Khulna correspondent.

Inu also said now is the time to discuss how much money to allocate as part of the plan to ensure the transition from fossil fuels to alternative energy, and whether it is possible to make a transition from the current situation to a 100 percent alternative energy system.

A proposal can be crafted and placed before the finance ministry before June, he suggested.

"It is time to discuss whether Bangladesh's electricity production is at an overcapacity and whether any misallocation has occurred," said Inu.

Along with him, the event was co-chaired by lawmaker Saber Hossain Chowdhury, chairperson of the Parliamentary Standing Committee on the Ministry of Environment, Forests and Climate Change and lawmaker Tanvir Shakil Joy, Chairperson of Climate Parliament Bangladesh.

Representatives of the organisers and co-organisers of the BEP 2050 Conference, namely Bangladesh Working Group on External Debt (BWGED), Climate Parliament Bangladesh, The Earth Society, ActionAid Bangladesh, Bright Green Energy Foundation (BGEF), CLEAN (Coastal Livelihood and Environmental Action Network), Center for Participatory Research and Development (CPRD), Centre for Policy Dialogue (CPD), Change Initiative, Participatory Research and Action Network (PRAAN), Solis Power & Energy Limited (SPEL) and Waterkeepers Bangladesh, were also present at the press conference yesterday.