$14b a year lost to capital flight during AL years
Bangladesh has lost around $14 billion a year on average to capital flight during the Awami League’s 15-year tenure, according to the draft report of the committee preparing a white paper on the economy.
13h ago
Nagorik committee: Members split over ex-Shibir leader joining
Jatiya Nagorik Committee has included a former top leader of Islami Chhatra Shibir in its extended central committee, ignoring objections from a section of committee members.
2d ago
Power, Energy Sector: Arrears, subsidies weighing down govt
The interim government is struggling to pay the power bill arrears that were caused largely by “unfair” contracts signed between the previous administration and power producers, and rising international fuel prices.
6d ago
Now coal power plants scaling back production
Coal-fired power plants are dialling down production or even shutting down due to financial, legal or technical issues, leading to power cuts across the country, especially the rural areas.
3w ago
Outstanding bills: Adani halves power supply to Bangladesh
India’s Adani Power Jharkhand Limited has halved its power supply to Bangladesh, saying it has yet to receive outstanding bills.
3w ago
Heatwave cost Bangladesh $21b last year
Heat exposure had severe economic consequences for Bangladesh last year, leading to an estimated income loss of $21 billion due to reduced labour capacity, according to the latest Lancet Countdown report.
4w ago
AL govt put finance adviser, BB governor in legal trouble
The immediate past Awami League government’s failure to settle an international arbitration claim has left Bangladesh in a legal tangle in the US, leading to a surprise judicial order against two top officials of the interim government during their official visit to Washington last week.
1m ago
‘They got capacity charges for 16yrs. Not anymore’
A retired bureaucrat, Muhammad Fouzul Kabir Khan has been tasked with heading three significant ministries for the economy: power, energy and mineral resources; road transport and bridges; and railways.
1m ago
June 28, 2022
Pressure on forex reserves: Govt exploring loan of up to $4.5b from IMF
As a precautionary move, Bangladesh has started talks with the International Monetary Fund about taking a loan of $4-4.5 billion to shore up the precarious foreign currency reserves.
June 24, 2022
Use of foreign aid rises, but may miss target
Although foreign assistance disbursement is increasing continuously, the country is still behind its target for this fiscal year.
June 23, 2022
Matarbari plant: Govt won’t implement phase-2
The government has decided not to implement the second phase of the Matarbari coal-fired power plant, a cabinet member confirmed yesterday hours after Japan announced the cancellation of funding for the project.
June 22, 2022
Bangladesh won’t implement 2nd phase of Matarbari Coal Power Plant
The government will not implement the second phase of the Matarbari coal-based power plant.
June 17, 2022
Govt took profits of Petroleum Corporation, left it in lurch
Bangladesh Petroleum Corporation made huge profits for seven years through import of petroleum at low prices but the government took that money, leaving the BPC ill-equipped to cope with the current international market volatility.
June 14, 2022
Profits of state enterprises fall to 9-year low
The profits of state-owned enterprises in Bangladesh fell to their lowest in nine years, owing to higher commodity prices in the global market and selling of essentials among the poor and low-income groups at subsidised rates.
June 11, 2022
No roadmap for cutting energy costs
The proposed budget for the 2022-23 fiscal year does not outline a roadmap for reducing gas imports by increasing domestic production.
June 8, 2022
Adani godda power plant: BPDB to pay Tk 1,219.1cr for power not used
If it does not add value, it is a waste, said the seminal American industrialist Henry Ford. And the quote best describes the situation the Bangladesh Power Development Board finds itself in with its deal with India’s Adani Power.
June 5, 2022
Block allocations: Focus shifts to war fallout from jabs
The government is not keeping a separate allocation for vaccines in the next fiscal year’s budget as it pulls back from vaccine procurement given the high inoculation rate and low infection rates.
May 16, 2022
Rakhines cast aside for tourism conquest in Kuakata
Kuakata, the country’s second largest sea beach, is being turned into a tourist destination without a structured plan, kicking out the native Rakhine population in the process.
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