Progress of Bangladesh Power Sector on Perspective of SDG7

Abstract

Bangladesh is experiencing fastest GDP growth rate than anticipation in recent years. To maintain this pace of economic development, Government of Bangladesh (GOB) has successfully drafted energy policies to fuel the increasing energy demand by considering the targets of sustainable development goal 7 (SDG7). The measures taken in the seventh five-year plan of Bangladesh to achieve the targets of SDG7 are set out to enhance the energy accessibility of nation in affordable, reliable, sustainable way with modern technology. The aim of this paper is to explore the progress and challenges for Bangladesh toward seamless achievement of SDG 7. Analysis reveals that Government of Bangladesh is prone to solve the energy crisis on emergency basis rather than materializing the action plans of masterplan through appropriate policy, reforms and regulation. Consequently, Energy sector is driven to be costly, unreliable and unsustainable in long term. It is suggested that execution of fuel diversification plan, finalization of appropriate incentives and tariff policy for renewable energy market development, local as well as foreign fund allocation for energy efficiency improvement should be implemented to lead energy sector of Bangladesh toward sustainable development.