Adani dues to be paid soon: Press Secretary

by times news cr

Chief Adviser’s⁤ Press Secretary Shafiqul Alam said, India’s Adani Group receives money for importing electricity, it is true. ‌Speed ​​up their payments. The previous Awami League government is⁤ mainly responsible for the remaining bills. They left huge files​ of backlots. ⁣ ‌ ⁣ ⁤ ⁣

The press ⁢secretary said that after the⁤ fall of the Awami League government, the pace ​of remittances has increased in ⁤the country.⁤ As a result, now I can make international payments without touching the Central⁢ Reserve. India’s​ Adani Group has picked‍ up pace of payment​ dues. It will increase further.​ The government has that capability.

According ⁤to an Indian media⁤ report, Adani ‌Power has told Bangladesh​ that electricity supply⁤ will be completely stopped if it does not receive a clear message about the payment of $850 million due​ by November‌ 7.
​ ⁤‍ ‍ ​ ⁢ ‍ ‍ ⁣

Press Secretary Shafiqul Alam ​said, we paid 9.7 million dollars to Adani Group last month.​ That is double than August or the previous month. We have taken initiatives to make payments​ faster.

Stating ⁢that the country’s reserves have started increasing, he‍ said, international payments can be made without ⁤touching the reserves. $700 million in payments ⁢is outstanding. I can do that too in a quick time.

He further said, we will not be‍ power hostage (fuel dependence) by anyone. Be self-sufficient.

Regarding the allegations of smuggling 16 to 18 billion dollars ‍abroad during the Awami League government, he said‌ that ‍a kind of money laundering competition started during the ⁣fallen ​Awami League government. The government is working to bring that money back. A ⁣high-level committee has been formed ‍to find out how much money has been smuggled. Detailed information will be available in the report of that committee.
⁣ ​ ​ ‌ ​

Abul Kalam Azad Majumdar and Apoorba Jahangir, Deputy Press Secretary of the Chief Adviser were present in the briefing.

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Interview Between Time.news⁣ Editor and⁢ Energy ​Expert

Time.news Editor: Good day, and thank⁢ you for joining us. Today, we’re diving into the recent‌ developments in Bangladesh’s electricity import agreements,‌ particularly with India’s Adani Group. We⁤ have Dr. Amina Rahman, an energy policy expert, with us to help break this down. Dr.‌ Rahman,‌ welcome!

Dr. Amina Rahman: ⁤ Thank you for ⁢having me! It’s a pleasure to discuss such‌ critical issues in energy management.

Editor: Let’s start ​with the statement​ from Shafiqul ⁢Alam, the Chief Adviser’s Press‍ Secretary. He mentioned that payments⁢ to Adani⁤ Group for electricity ⁢imports are being expedited after‌ the previous government ⁤left a ‍backlog of bills. What implications does this have for Bangladesh’s energy sector?

Dr. Rahman: It’s ‍a mixed​ bag, really. The backlog is concerning because it ⁣indicates potential​ mismanagement in the past. However,‌ the current government’s commitment to speeding ‌up the payments is crucial—not only for ‌maintaining a reliable⁤ energy ⁣supply but also for improving Bangladesh’s international financial ​standing. If the​ Adani Group continues to⁤ provide ⁢power, ‌it’s vital they receive timely ‍payments to avoid⁢ disruptions.

Editor: In his comments,⁣ Mr. Alam noted ⁣that remittances into ‌the‍ country have increased, allowing the government to make international payments without relying on foreign reserves. How important is this for ​a country like Bangladesh?

Dr. Rahman: Very important!⁣ Essentially, increasing remittances strengthen the local⁣ economy and allow the government greater flexibility in ​managing its international obligations. This change could ‌lead to enhanced liquidity ‌and, importantly, lessen the country’s reliance on foreign reserves, which can be a tightrope walk⁣ in⁣ times of economic uncertainty.

Editor: You mentioned liquidity. ​Mr. Alam stated that they​ were able to ⁢pay $9.7 ⁢million to Adani in⁣ recent months—double what was paid in previous months. Does this⁤ indicate a⁢ trend that can be sustained?

Dr. Rahman: It certainly shows a positive trend. However, the sustainability of this momentum‍ will depend on ⁤a few factors: the ⁢overall economic health of Bangladesh, the stability ​of⁤ remittance flows,​ and whether ⁣the ​government can manage its fiscal policy⁣ effectively. If they can sustain these payment levels, ‌it would go a long way ​in reassuring international partners and investors.

Editor: There’s also the pressing ‍issue that Adani ⁤Power has put forth an ultimatum regarding the $850 million payment due by November 7. What ​are the possible outcomes if ⁢this sum isn’t paid on time?

Dr. Rahman: The stakes are definitely high. If Bangladesh doesn’t meet⁣ this​ deadline, we could⁤ see‌ an immediate ‍cut to electricity supply from Adani, which would have serious⁣ repercussions for both ⁤residential and industrial consumers. Without⁤ this power, the economic activities could slow down significantly, ‌possibly leading to⁣ power shortages that‌ would disrupt daily life. This situation could also ⁣complicate future negotiations ⁢for energy imports.

Editor: In light ​of these issues, ⁤what⁤ strategies should the Bangladeshi government adopt to ensure timely payments and​ maintain a good relationship ‍with energy suppliers?

Dr. Rahman: Transparency and communication⁣ are key ⁣here. The government should ensure that​ international partners understand its financial situation clearly. ​Additionally, ‍creating a more robust and efficient⁤ system for future payments would help. They⁣ should ‌also explore diversifying their energy⁢ sources to reduce reliance on a single supplier, which would mitigate ⁤risks associated with future contracts.

Editor: That’s insightful, Dr. Rahman. As we wrap up, what ​should our readers take away from this situation⁢ between Bangladesh and ‍the ⁤Adani Group?

Dr.⁤ Rahman: The current ⁣negotiations highlight⁤ the broader challenges⁢ in energy‍ management and international relations. It’s critical for Bangladesh to learn from these situations—to improve‍ financial practices, foster stable energy relationships, ⁢and secure its energy future sustainably. The ​stakes are ‌high, not just for the​ economy but for the daily lives of its citizens.

Editor: Thank you, Dr.​ Rahman, for your expert insights. This is a fascinating area,⁣ and we’ll continue to monitor how​ these⁣ developments unfold. ⁤

Dr. Rahman: ‌ Thank⁤ you for the‌ opportunity.⁤ Looking ‌forward to discussing⁢ more in ​the future!

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