look news india
Bangladesh has expedited payment of $800 million (about Rs 6,700 crore) dues to India's private power generation company Adani Power. The company, which exports power to Bangladesh from its Godda plant in the eastern Indian state of Jharkhand.
Adani Power demands immediate payment of dues
Due to delay in payment of money to the company, the company has reduced the power supply by 50 percent. Adani Power has demanded immediate payment of its dues from the Bangladesh government as the company faces challenges in importing coal required for power generation.
What does the report say?
A senior Bangladesh Power Development Board (BPDB) official said Adani Power recently reduced power supply to Bangladesh from 1,400 MW to 700-800 MW. Officials said on condition of anonymity that there could be further cuts in supplies in the near future if Bangladesh does not make timely payments. However, let us tell you that Adani Power has not yet given any statement regarding the deadline or payment on this issue.
The government is working to pay
The Gautam Adani-owned company exports power under its contract with Bangladesh. Bangladesh paid Adani Power $96 million last month and was taking a bank loan to pay the remaining $170 million this month, said Muhammad Faujul Kabir Khan, an adviser to Bangladesh's energy ministry.
Again, it remains to be seen what impact the payment dispute and supply cut will have on relations between Bangladesh and Adani Power. Bangladesh's current economic situation, rising fuel prices in the global market and international raw material shortage have put the country's power supply system at risk.