Civil society bodies warned that 98 per cent of the energy budget remained locked into fossil fuels despite policy commitments, adding that Bangladesh required at least Tk 21,750 crore in annual investment to achieve its renewable energy targets by 2030.

The current national budget allocates only a fraction of what is needed to making clean energy transition happen, a press release said quoting the civil society organisations.

At a press conference in Dhaka on Sunday, they expressed serious concern that a recent National Board of Revenue order could significantly weaken the impact of the incentives such as waiver of tax and VAT on renewable energy equipment imports.

The press conference, titled ‘Energy Sector in the National Budget: Civil Society Perspectives’, was jointly organised by the Coastal Livelihood and Environmental Action Network (CLEAN) and the Bangladesh Working Group on Ecology and Development (BWGED), with support from the Bangladesh Environmental Lawyers Association (BELA) and others

Research presented at the event estimates that Bangladesh will require at least Tk 21,750 crore annually to achieve its renewable energy targets by 2030, including a minimum public investment of Tk 6,750 crore per year.

To help bridge the financing gap, the groups proposed establishing a Tk 25,000 crore renewable energy fund to provide low-cost financing for households, entrepreneurs, farmers, and renewable energy developers through commercial banks.

Syeda Rizwana Hasan of BELA said that renewable energy targets must be matched by adequate budgetary support and effective implementation.

‘Rooftop solar power alone is not enough, we need broader investment to address energy inequality and load-shedding beyond the capital,” she said.

The organisations said that Bangladesh now stood at a critical moment in shaping its energy future, with one path leading to continued dependence on imported fossil fuels and the other to a more resilient, self-reliant economy powered by renewable energy.