The fourth tranche of the instalment was deferred due to disagreements and now talks are going on to release two tranches at once.
Government officials will face death penalty or minimum life sentence if found guilty of causing the death of enforced disappearance victims, according to a draft ordinance unveiled yesterday.
As much as $900 million has been on hold since 2022 in the central bank's escrow account
The interim government may backtrack from its initial plan to set an ambitious GDP growth target of 6 percent for the next fiscal year amid the new economic reality and settle for 5.5 percent.
The government has set new gas tariffs for the industrial sector, hiking the price by 33 percent for new units, despite objections from businesses and consumer rights organisations.
Bangladesh’s power sector is burdened by overcapacity and systemic inefficiencies, hindering its ability to deliver reliable and cost-effective electricity, says Prof Dr Saifur Rahman, a Bangladeshi expert based in the US.
Protesting students began reaching out to Nobel laureate Professor Muhammad Yunus as early as August 1, 2024, through his colleagues, at the peak of the mass uprising against the ousted Prime Minister Sheikh Hasina.
Professor Muhammad Yunus, chief adviser of the interim government, yesterday instructed his cabinet colleagues to prepare for Bangladesh’s status graduation from a least developed country (LDC) to a developing nation in November 2026, effectively doing away with all speculation.
Industrial users are counting 30 to 50 percent production losses for the last couple of months thanks to a gas shortage.
The Bangladesh Power Development Board (PDB) has projected the highest electricity demand during the summer months would be 18,000 megawatts (MW), while the highest production target is 17,260MW.
Dhaka, the capital of Bangladesh, has long been a vibrant cultural and economic hub. As one of the world’s largest megacities, it never sleeps, embracing millions from diverse backgrounds.
The interim government must suspend the inefficient and costly power plants and renegotiate the capacity payment terms with the private power producers as the structure incentivises inefficiency, according to the report of the task force.
Protesters block roads, railways, leaving thousands stranded
Subsidies for the power sector are likely to balloon 83 percent this fiscal year as the interim government is planning to clear all arrears owed to private power producers.
Titas Gas’s system loss hit a decade high of 1,204 million cubic meters in fiscal 2023-24 -- enough to meet a month’s import bill of high-priced liquified natural gas (LNG).
Although the Awami League government made ambitious commitments to renewable energy before being ousted by a mass uprising in August last year, meeting those lofty goals remains a distant dream for the country.
Bangladesh has the highest per capita power subsidies among its four neighbouring countries, including India and Pakistan, despite having the second-lowest per capita consumption, according to an analysis by the Bangladesh Independent Power Producers Association (BIPPA).
India’s Adani power has asked Bangladesh Power Development Board to pay $845 million in arears by the end of June or face charges for late payment.
