The government has now asked all the commercial banks to ensure austerity by reducing the consumption of electricity and fuel.
Banks will have to reduce the consumption of gas and lubricant by 20 per cent and electricity by 25 per cent in the next one year starting from July this year, said a Bangladesh Bank circular issued Tuesday.
According to circular, the commercial banks are asked to reduce energy consumption by 10 per cent within next six months of 2022 and the remaining 10 per cent by first six months of 2023.
Consumption of electricity will have to be reduced by 25 per cent within June 2023, according to the BB circular.
The money saved from this austerity move won't be used in any other sector, the BB instructed.
Also, banks have to preserve the documents and informations regarding reduced usage in their respective head offices. Once, the team from the BB goes for inspection, banks have to show the data.
In addition, the data will have to be included in the annual fiscal report spanning from December 2022-December 2023.
azizjst@yahoo.com