Tuesday, February 25, 2020 | ePaper

Coal-dependent Poland to compensate industry for carbon costs

  • Print
AFP, Warsaw :
Poland's parliament on Friday adopted measures to compensate its industry struggling to cope with surging electricity bills triggered by higher EU carbon emission costs.
Heavily dependent on polluting coal, Poland's power stations have faced rising costs to purchase pollution rights under the EU's emissions trading scheme, costs which they have passed on to consumers including businesses.
Under the scheme Warsaw will spend around 900 million zloty (211 million euro, $237 million) per year beginning in 2020 on payments to energy-intensive firms to help them remain competitive and preserve some 1.3 million jobs, the enterprise and technology ministry said in a Friday statement.
"Around 300 companies from energy-intensive industries, like the chemical, metal and paper sectors, will be entitled to compensation for the costs of purchasing CO2 emission rights included in the price of energy," it added.
The legislation by the right-wing Law and Justice (PiS) government was backed by 420 lawmakers in the 460-seat lower house, with one vote against and six abstentions.
Without solid plans to diversify its energy mix in the near term, the government has focused on price caps to mitigate the rising cost of emission under the bloc's rules.
This latest measures come after the government failed to implement a price cap for electricity last year due to technical reasons, and just ahead of a general election this fall that the PiS is on track to win.

More News For this Category

Mohammad Akhter, Chairman of Prime Islami Life Insurance Limited (PILIL), presiding over its Annual Conference-2019 at a hotel in Kuakata in Patuakhali recently. Md. Apel Mahmud, CEO, Rahim Uddaulah Chowdhury, Chief Consultant, Directors and Senior Executives of the company were also present.

Mohammad Akhter, Chairman of Prime Islami Life Insurance Limited (PILIL), presiding over its Annual Conference-2019 at a hotel in Kuakata in Patuakhali recently. Md. Apel Mahmud, CEO, Rahim Uddaulah Chowdhury, Chief Consultant, Directors and Senior Executives of the company were also present.

.

AKASH DTH signs agreement with Vision Emporium

Business Desk :AKASH DTH, Direct-to-Home service provider and Vision Emporium, a concern of RFL Group signed an agreement. Pursuant to the agreement, interested customers will be able to purchase

Bourses extend losing streak

Economic Reporter :Country's premier bourse, Dhaka Stock Exchange (DSE), closed on Tuesday extending losing streak amid poor earnings declarations by a number of large-cap companies.The broad index, DSEX closed

DCCI and PRI signed MoU to facilitate research

Economic Reporter :Dhaka Chamber of Commerce & Industry (DCCI) and Policy Research Institute of Bangladesh (PRI) signed a Memorandum of Understanding (MoU) on Sunday. According to the MoU both

BIMSTEC energy confce seeks integrated regional power management

BSS, Dhaka :Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) on Tuesday launched an energy conference in Bangladesh capital seeking effective ways for integrated power management

Abdul Aziz, AMD of First Security Islami Bank Limited, poses for photograph with the participants of a 5-day long workshop on 'General Banking Operations' at its Regional Training Institute in Chattogram recently. Mohammad Hafizur Rahman, Chattogram Zonal Head and Md. Redwan Ullah, Faculty Member of the institute, were also present.

Abdul Aziz, AMD of First Security Islami Bank Limited, poses for photograph with the participants of a 5-day long workshop on 'General Banking Operations' at its Regional Training Institute in Chattogram recently. Mohammad Hafizur Rahman, Chattogram Zonal Head and Md. Redwan Ullah, Faculty Member of the institute, were also present.

.

GDP per capita projected $12,500 by 2041

Economic Reporter :Bangladesh's per capita income has been projected $12,500 by 2041.This was predicted in a report titled Bangladesh's Second Perspective Plan 2021-41 prepared by the General Economics Division

FBCCI welcomes lending rate cut

Economic Reporter :The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Tuesday welcomed the move by the central bank to set a maximum 9 percent interest rate

Importers to face penalty for delay in documents submission

Economic Reporter :Importers are going to face penalty for their failure of bill of entry submission within 72 hours of arrival of goods at port, said National Board of

Mohammed Monirul Moula, AMD of Islami Bank Bangladesh Limited, speaking at the 'Agent Banking Business Development Conference and workshop on Prevention of Money Laundering and Terrorist Financing' organised by Khulna Zone at a local hall of the city on Sunday. Abu Reza Md. Yeahia, DMD, Md. Abdus Salam, Head of Khulna Zone and Managers of 22 Branches were also present.

Mohammed Monirul Moula, AMD of Islami Bank Bangladesh Limited, speaking at the 'Agent Banking Business Development Conference and workshop on Prevention of Money Laundering and Terrorist Financing' organised by Khulna Zone at a local hall of the city on Sunday. Abu Reza Md. Yeahia, DMD, Md. Abdus Salam, Head of Khulna Zone and Managers of 22 Branches were also present.

.