Although there is a possibility of underground gas reserves in the country, not a single gas well has been dug in the last 17 years, said Minister for Power, Energy and Mineral Resources Iqbal Hasan Mahmud. He said that the people of Bangladesh may have to bear the burden of the policies taken in the past in the energy and power sector for another 50 to 60 years.

He said these things to reporters after the inauguration of the 'Renewable Energy Fest 2026' organized at the Bangladesh University of Engineering (BUET) campus on Tuesday (October 27) in the capital.

The minister said, the people of the country will have to bear the impact of the system that was implemented in the energy and power sector in the last 17 years.

He also said that the government's expenses are increasing due to the cessation of supply of liquefied natural gas (LNG) from Qatar as per the agreement. The minister said that due to the supply being stopped, gas has to be bought from the spot market at a high price of up to 30 dollars per unit. This has created a huge pressure on government spending.

Highlighting the plan to increase the use of renewable energy, Iqbal Hasan Mahmud said that by 2030, a plan has been taken to increase the share of renewable energy in the overall energy mix of the country's electricity production to 30 percent.

He also said that all the equipment required for the development of the renewable energy sector has been kept completely tax-free. Through this initiative, there is a plan to increase the spread and use of renewable energy in the country.