Bangladesh raises electricity price to ease subsidy burden

Dhaka, March 1 The Bangladesh government has again raised the price of electricity at the retail level, according to the Ministry of Power, Energy and Mineral Resources.

The retail price of electricity will be raised by 5 per cent for the third time since January this year, and the new rate will come into effect from Wednesday, reports Xinhua news agency citing the Ministry as saying.

The average retail price of electricity will be 8.21 taka per kilowatt hour, up from 7.82 taka kWh.

The price was first increased on January 12 and then for the second time on January 31.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid had earlier said that backlog made due to financial losses in gas import would be likely to overcome to some extent if the power price adjustment is made on a monthly basis.