Bangladesh to allow private sector to build refineries

Bangladesh has responded to persistent requests from business conglomerates and has decided to open up the refining business to the private sector, Energy Secretary Mohammad Mohsin said. “We have decided to allow private petroleum refineries in the country,” he said, adding that the government had already drafted a policy following a lot of interest from local and foreign companies to invest in the sector. The proposed Private Oil Refinery Establishment Policy-2009 lays down guidelines for the private sector for setting up refineries and exporting petroleum products. An energy ministry official said the government would start approving private refinery proposals only after the Cabinet passes the policy. (August 19, 2009)