Electricity price will not rise even if IMF wants: Adviser

Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan said, the price of electricity will not rise even if International Monetary Fund (IMF) wants. Production costs will be lowered by eradicating corruption, and subsidies will be reduced in the sector. 

He made the remarks while talking to journalists at the finance ministry on Thursday. 

Earlier, IMF staff and the Bangladesh authorities reached a staff-level agreement on the policies needed to complete the third review of the programmes being supported by the IMF's Extended Credit Facility (ECF), Extended Fund Facility (EFF), and Resilience and Sustainability Facility (RSF).

"We are pleased to announce that the IMF team reached a staff-level agreement with the Bangladesh authorities on the policies needed to complete the third review under the ECF, EFF, and RSF arrangements. The IMF's Executive Board will consider completion of the review based on the implementation by the authorities of prior actions,” said Chris Papageorgiou, IMF Mission Chief to Bangladesh at the end of the visit, said a press release received on Wednesday. 

An IMF staff team led by Chris Papageorgiou visited Dhaka during December 3-18, 2024 to discuss economic and financial policies in the context of the third review of the IMF-supported ECF, EFF and RSF.