"Infrastructure Development Company Limited (IDCOL) was able to use only $80 million of the $225 million credit line provided five years ago. Besides, there has been little or no action on the part of Infrastructure Investment Facilitation Center (IIFC) in project identification," he added.

Saifur said these companies should be liquidated and a committee formed to investigate why they failed to spend the allocated amount. "The country cannot afford to lose time in project identification. What we need is quick investment."

The finance minister was speaking as chief guest at the inaugural ceremony of an investment promotion workshop on 'Remote Area Power Supply Systems' jointly organised by the Power Division of the Ministry of Power, Energy and Mineral Resources and IIFC at Sheraton Hotel in Dhaka Monday.

Saifur said use of fluorescent bulb should be encouraged in schools, colleges, and hospitals as it saves 40 per cent electricity. "If it is used in all government organisations, it will save more than 100 megawatt electricity a day."

"I can release funds for encouraging use of fluorescent bulb in the government organisations. Steps can be taken for reducing tax on this type of bulbs if necessary," he added.

President of the Federation of Bangladesh Chambers of Commerce and Industry Abdul Awal Mintoo spoke at the function as special guest. Mirza Tasadduq Hussain Beg, secretary of the Economic Relations Division, and

SM Shamsul Alam, secretary of the Power Division, also spoke.

Mintoo said with a population of about 130 million, Bangladesh has one of the lowest levels of per capita power consumption. "Less than 20 per cent of the total population have access to power. In rural Bangladesh, the figure is about 10 per cent, and in coastal and remote areas, it could be as low as three per cent."

At the present rate of electricity penetration in the rural areas, which is less than one per cent, access to power supply through the national grid for the total population may take between 50 to 100 years, he observed.