What the government should be focusing on is renewable sources of energy
The recent gas price hikes have been contentious, to say the least.
On one hand, higher gas bills will make citizens unhappy in the short-term, increasing household costs.
On the other, with gas rates subsidized to the extent that they are, and gas supplies already running low, hikes in gas prices are somewhat essential to ensuring that gas continues to contribute significant revenue to our economy.
But, at the end of the day, this should come as no surprise, considering the fact that all our current gas fields are near depletion and we have failed to conduct the explorations required to ensure alternatives for the current scenario.
As such, with Bangladesh currently importing Liquefied Natural Gas at high costs, a price hike was inevitable and reflects our need as a nation to look to the future, to alternative sources of energy, especially renewable.
While we understand that the current price hike -- up to 80% for households -- is ridiculously high, subsidies on LNG and other fossil fuels are detrimental to our nation in the long run.
What the government should be focusing on is renewable sources of energy, the case for which is weakened every time government policy reflects subsidies for non-renewable energy sources.
The administration would do well to take the increased revenue from higher gas returns and invest in wind, solar, and other forms of renewable energy to better future-proof our nation and prepare for the fight against climate change as well.
This has the potential to not only create a better environment for our citizens and their children, but also cheapen energy costs in the long run.
At the end of the day, such a change will not only benefit the nation, but every household in the country.
