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Power and energy sector is likely to see a slashed budget allocation for the upcoming fiscal (FY19) compared to that of the previous fiscal (FY18)

Tk 262.26 billion is likely to be allocated for the country’s power and energy sector in the next national budget for the 2018-19 financial year (FY19), scheduled to be unveiled on Thursday.

Budgetary allocation for FY18 for the power and energy sector was Tk 294.24 billion for the power and energy sector. 

According to Power, Energy and Mineral Resources Ministry, Tk 228.93 billion has been proposed for the power division and Tk 33.34 billion for the energy and mineral resources division.

In the previous fiscal Tk 249.47 billion was allocated for power division and Tk 44.77 billion for energy sector.

With the fiscal allocation the power division took 113 projects for power sector development in the previous fiscal.

The overall progress in project implementation was 78.49 per cent till April, the ministry official said.