About the finance ministry's approval, Consumers Association of Bangladesh (CAB) vice president M Shamsul Alam said this is an indication that the government is in a serious crisis in dealing with the energy sector.
Recently the energy division announced its decision not to import any LNG from the international spot market because of the price hike.
As a result, it has to go for reducing power generation from gas-fired plants that forced the power entities to resort to planned load shedding.
However, it continued importing LNG from Oman and Qatar under long term contracts where price is fixed, but varies to some extent on different conditions.
Now, it's not clear whether Petrobangla will use the new fund to resume import of LNG from the spot market or utilise it to import gas from long-term suppliers.
The Gas Development Fund (GDF) was created by the order of the Bangladesh Energy Regulatory Commission (BERC) a few years back to allow the Pertrobangla to receive additional money with gas bills from the consumers to use the fund for gas exploration in the country.