Editorial
TIB report on power sector revealing
Its recommendations merit consideration
A study report by Transparency International Bangladesh (TIB) on our power sector has made startling revelations. Due to mismanagement, corruption and irregularities in the sector, the country sustained a loss of Tk 10,626 crore in 2005-06 fiscal year alone. To sample other staggering loss figures, between 1994-2005, Tk 18,930 crore was lost through distribution leakage and pilferage and Tk 4,000 crore went down the drain through purchase of six overpriced power plants between 1996 and 2006.
The dismal picture portrayed by the TIB bears ample testimony to the milking of the power sector by the vested quarters within and outside the management of the Power Development Board at the expense of the industries, service sector and the people at large for years under successive governments.
In this context, we believe the TIB's valuable suggestions aimed at improving the critical state of the sector to make it viable and service-oriented need to be paid heed to. We find the recommendations for appointment of an Ombudsman as a powerful watchdog, formulation of rules requiring all documents of major procurements and accounts be made public and formation of an independent committee to review such documents worthy of active consideration by this government.
Furthermore we have to negotiate with the donor agencies for favourable terms on loans with the tapering off of the conditionality attached to setting up of power plants.
Above all, the entire sector must be made accountable in a built-in way and free from corrupt practices including all forms of political interventions.
We do realize that putting the present power sector in order from its present chaotic state will not be an easy task; yet, we must embark on this gigantic and difficult task here and now.
It is our belief that if we are to achieve the power sector's "Vision 2025" for power to all, this government with its unique position is capable of giving it a start and earn the gratitude of the people for bailing out the sector from the mire it finds itself in.
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