MJL Acquires Largest Oil Tanker for $75 Million

The Payra Thermal Power Plant in Patuakhali has temporarily halted operations for maintenance and to facilitate the test commissioning of a nearby $2.5 billion coal-fired power plant by RPCL-Norinco International Power Limited (RNPL). The new 1,320 MW plant, located two kilometers away, will undergo testing of its transmission lines, requiring a shutdown of the Payra-Gopalganj line for up to 75 days.

The National Board of Revenue (NBR) has revoked the indefinite tax exemption on loan interest for SS Power Limited, a subsidiary of S Alam Group, effective January 2024. The exemption, granted since March 2019, ends following an SRO issued on 17 December.

The government will procure soybean oil, lentils, LNG, and fertilisers to meet domestic demand. The Advisors Council Committee on Government Purchase, chaired by Finance Adviser Dr Salehuddin Ahmed, approved proposals for these procurements.

Janata Bank has been partially exempted from the Bank Companies Act-1991 to lend money to Beximco Group, a major loan defaulter, to help pay employees of Beximco Industrial Park. Despite Beximco owing Tk 23,328 crore to Janata Bank—410% of its own capital—the bank will lend Tk 180 crore to the conglomerate.

State-run Rupantarita Prakritik Gas Company Ltd (RPGCL) has floated a fresh tender for one spot LNG cargo for January 05-06 delivery and reissued a tender for January 09-10 due to insufficient bids. Both tenders aim to procure LNG for discharge at Moheshkhali island, with volumes around 3.36 million British thermal units (Btu).

The National Board of Revenue (NBR) is set to launch a fully automated bonded-warehouse facility on 01 January 2025, streamlining paperless services for domestic exporters. The Bond Management Automation Project, which was initially launched in July 2017, has faced multiple extensions due to disruptions caused by the Covid-19 pandemic. The system aims to eliminate the misuse of bonded-warehouse facilities and reduce manual processes.