BB governor assures adequate forex reserves for LNG imports

Bangladesh Bank Governor Ahsan H Mansur has assured that the country has sufficient US dollars to support the import of liquefied natural gas (LNG), ensuring uninterrupted supply for industries and utility providers.

“No one can say they are unable to import LNG due to a dollar shortage,” the governor said at a dialogue in Dhaka’s Gulshan yesterday.

“Dollars are now available, and LNG imports are proceeding accordingly,” he added, indicating that Bangladesh’s foreign exchange position is no longer an obstacle to energy supply.

The dialogue, titled “Right Investment Option in the Current Economic Condition”, was part of the Summer Sale Carnival hosted by Building Technology and Ideas Ltd. Chowdhury Ashiq Mahmud Bin Harun, executive chairman of Bida and Beza, and Mahfuz Anam, editor of The Daily Star, also spoke at the event.

Ahsan Mansur further said gas supply is no longer a major concern, especially as the government is providing massive subsidies to the power sector. “This year, nearly Tk60,000 crore will be allocated as subsidies, up from the original Tk36,000 crore budget. And more might be allocated if needed.”

Reflecting on past payment delays, the governor said, “Good companies had pulled out because we couldn’t make timely payments. Now they’re back in the market. That has helped reduce global LNG prices and brought down Bangladesh’s LNG mark-up.”

He highlighted that outstanding payments to major suppliers such as Chevron and Qatari firms, once amounting to $600–700 million, have now been cleared, ensuring a stable financial footing. “There are no arrears now,” he said.

However, he stressed that structural issues still need attention. “Institutions like the Power Development Board (PDB) must be financially solvent. They need to have the capacity to mobilise taka to buy dollars. Without that, we cannot support their dollar needs,” he explained. 

He added that the government has stepped in to guarantee loans for PDB to ensure this capacity.

Responding to public concerns about the doubling of gas prices, the governor said, “Yes, prices have increased. But even after doubling, the government is not making a profit.”

Mansur also addressed the housing crisis in Bangladesh, noting that affordable housing remains out of reach for most due to high interest rates on home loans, currently around 12%. 

“In other countries, mortgage rates are 2% to 4%. For affordable housing here, a rational rate would be around 6%, but we’re not there yet — it will take time,” he said.