Power Firms Hit by Declining Revenues as Quick Rentals End

Energypac Power Generation PLC posted a Tk 35.17 crore loss in the July-September quarter of FY 2024-25, driven by rising finance charges and interest rates. This marks a sharp decline from the Tk 99.65 lakh profit recorded in the same period last year.

EXIM Bank has decided to abandon its proposed merger with Padma Bank, reversing its earlier plan from March 2024. The decision, made during a December 23 board meeting, was disclosed on the Dhaka Stock Exchange.

Companies linked to the S Alam Group took out 56% of the total loans disbursed by First Security Islami Bank (FSIB), amounting to Tk 33,791 crore out of Tk 60,272 crore as of September. An internal inspection revealed significant irregularities in loan disbursement, including excessive investment, overvalued collateral, and improper loan rescheduling.

Bangladesh Bank (BB) has asked 13 banks, including BRAC Bank, Islami Bank Bangladesh, and Shahjalal Islami Bank, to explain by December 22 why they are offering unusually high US dollar rates to foreign exchange houses, with rates reaching Tk 127–128 against the official interbank rate of Tk 120.

The National Board of Revenue (NBR) discovered that British American Tobacco (BAT) Bangladesh Limited evaded Tk 379 crore in value-added tax (VAT) over the past four fiscal years. An investigation by the NBR's Large Taxpayers Unit (LTU-VAT) revealed that BAT sold products at higher prices than reported without paying corresponding higher taxes.