Bangladesh will spend even more this year to combat the chronic electrical power shortages in the country which impact both industry and homes.
Bangladesh Power Development Board projects that over 12 lakh new domestic and industrial units are to be connected this year in a phased rollout of the first new electrical supply connections in 2 years.
Bangladesh plans to boost economic growth by an increase in spending on development which will rise to 460 billion taka ($6.4bn) this year. Some 86bn tk of this will go towards spending on critical power generation facilities – with the intention of adding 2,000 megawatts in 2011 and and 9,500 megawatts by 2015. That means additional new power plants like the one opened at Ashuganj in April this year and those completed over the last year.
A further 80bn is to be spent on vital infrastructure in the form of roads and railways. This is hoped to aid Bangladesh’s goal of becoming a mid-income country by 2021, which will according to world bank would require an annual GDP growth rate of 6%-8%.