OIL-GAS DEAL Who is a better patriot, asks PM

Dhaka, June 18 (bdnews24.com) ? Echoing her cabinet colleagues and energy officials, prime minister Sheikh Hasina has said they are doing nothing against the country's interest.

She also slammed those opposing the deep-sea gas exploration deal with US firm ConocoPhillips, inked on Thursday, and questioned, "Who is better patriot and protector of the country's interests?"

Hasina was addressing the foundation-stone laying ceremony of the National Board of Revenue headquarters at Agargaon in the city on Saturday.

In an oblique reference to the protest programmes carried out by the National Committee to Protect Oil, Gas, Mineral Resources, Power and Ports, she said they were silent during the previous government when there was no development work in the country. "When we're marching ahead, these groups are opposing us," she regretted.

The prime minister said this group often cries out loud in the name of protecting the country's interest. "Where were they when there was no electricity production, no gas exploration and long-wait of investors to go on production for lack of gas and electricity?"

She claimed that her government would do nothing against the country and its people.

Texas-based ConocoPhillips was chosen to conduct its seismic surveys in blocks 10 and 11 as per an international tender in line with a model PSC-2008 formulated during the last caretaker government.

The final go-ahead for inking the PSC was given on May 23 by the cabinet committee on economic affairs.

The oil-gas protection committee has been opposing the deal from the very beginning. Besides, an MP, several leftist parties and fuel experts gave speeches and issued statements against the deal.

They said Bangladesh would own 20 percent of the gas and it would have to buy the rest 80 percent at a certain rate according to the PSC. If Bangladesh fails to import the rest of the gas amount, ConocoPhillips could export it elsewhere.

During the signing ceremony, fi nance minister A M A Muhith said the government had protected the interest of the country in the deal. "After maximum negotiations with the company, the government has prepared the agreement," he said.

Advisor Tawfiq-e-Elahi Chowdhury said the export provision is part of resource diversification. "We want to import LNG and at the same time we will allow export of LNG to keep all the options open," he explained.

"The export is only possible when Bangladesh will refuse to buy gas from the company."

Petrobangla chairman Hossain Monsur on Wednesday told bdnews24.com that some people were misinterpreting the deal. "There's nothing against the country's interests in the PSC," he claimed.

Hasina at the programme claimed that her government took effective measures to accelerate the country's development.

"We've created an investment-friendly environment in the country to attract foreign direct investment and simplified investment related laws and ruled to this end."

Hasina claimed that foreign direct investment was increasing as Bangladesh has become most attractive investment destination in South Asia.

She also said the government was providing capital for massive development projects in infrastructure and service sectors. She also pointed at the proposed economic zones in seven divisions.

The prime minister said in the proposed national budget of next fiscal tax holiday facility were ensured for 17 sectors and that Public Private Partnership Policy was formulated to encourage private investments in infrastructure and service sectors.

"The country's image has brightened abroad following the establishment of good governance."

She said two incentive packages were awarded to the export sector to tackle the adverse affects of the globaleconomic meltdown.

Saying that two closed jute mills have already been reopened and five others would be reopened soon, she said thus jute regained its lost glory.

State minister for housing and public works Abdul Mannan Khan and BoI executive chairman S A Samad were, among others, present at the meeting.

The 14-storey NBR office will be implemented by the Public Works Department costing around Tk 1 billion to be financed by the government.

bdnews24.com/sum/pks/sam/1620h

View the original article here