Economy
Oct 4, Grid Failure still under investigation: Nasrul Hamid
State Minister for Power, Energy and Mineral Resources Nasrul Hamid said on Thursday, 6 October that it would take a few more days to sort out the exact reasons behind the failure of the national power grid that happened on 4 October, causing much of the country into a blackout for about seven hours.
“Initially it was discovered that when there was a shortage of power created in the east side and surplus in the west side of the county, the transmission system tripped, leading to the grid failure”, he told the news media while briefing at his ministry on Thursday.
State Minister mentioned that the first power plant in Ghorasal station failed following the grid collapse, resulting in a heavy closure of power plants.
But the state minister said no physical damage happened to the grid.
He said an investigation committee of PGCB was working on it while another committee from Power Division would also be formed soon, expecting that the report by the PGCB committee will come in 7 days.
Responding to a question, he referred to remarks by BNP leader Iqbal Hasan Mahmud, a BNP leader and former state minister for power, and said it would be investigated if the grid failure was sabotage.
He said how Iqbal Mahmud knows that such incidents of grid failure would take place in the forthcoming too.
Nasrul Hamid, hence, admitted that the development of the Power Grid Company of Bangladesh (PGCB) did not take place as it was expected due to Covid-19 pandemic.
“We could not implement many PGCB projects due to the Covid-19 situation. We have been two years behind the schedule of the implementation”, he said, adding that a project for equipment of the PGCB has been undertaken.
“We hope, within the next two years we will be able to complete the automation project and then chances of such grid failure will be reduced,” he added.
Economy
Remittances Top $2bn in First 28 Days of September
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Economy
Yunus Pledges Swift Reforms and Election in Bangladesh’s Interim Govt
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Economy
Polythene Bags to Be Phased Out, Says Environment Adviser Rizwana Hasan
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
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