Home ›› 13 Oct 2022 ›› Front
The government is set to purchase one lakh metric tonnes of urea and DAP fertilisers at a cost of Tk719.23 crore from Saudi Arabia, Qatar and United Arab Emirates (UAE).
The Cabinet Committee on Government Purchase (CCGP) on Wednesday approved the proposals to procure the fertilisers for using in the agriculture sector. In addition, it also appointed Max Infrastructure Limited to complete the construction of a girder bridge over Kalinga River in Pirojpur Bangladesh should move faster with its exploration activities both on-shore and off-shore to replace expensive LNG with its own natural gas reserve as long as such a resource base is scientifically reckoned, the International Chamber of Commerce-Bangladesh (ICCB) has said.
Dependence on LNG imports may work out in the short term, but in the long run, the price volatility and current global economic uncertainty would make imports unsustainable and put pressure on much-needed foreign exchange reserves, according to the editorial of the current news bulletin of the ICCB released on Wednesday.
The government of Bangladesh is aiming to achieve export earnings of $100 billion by 2026. But with the ongoing energy crisis it might be difficult to achieve the target as production in most of the industries is well below their capacity due to frequent shutdowns, ICCB said.
It has been 10 years since the government successfully won the maritime boundary dispute in the Bay of Bengal.
According to experts, the deltaic build of mainland Bangladesh and its offshore, for all geo-scientific reasons, have been rated as highly prospective areas for natural gas.
“Proof of such a rating is evidenced in the adjacent areas bordering Bangladesh, notably the offshore Rakhaine basin in Myanmar where large-scale gas fields have been discovered since the maritime dispute with Bangladesh was settled in 2012,” reads the editorial.
