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!