The energy sector in Bangladesh is facing a significant challenge as overdue payments to energy providers and power-plant owners, both domestic and foreign, have reached a staggering amount of over $2.76 billion. This situation has resulted in a scarcity of power supply and fuel shortages, leading to frequent outages. The state-run power, oil, and gas entities have failed to make timely payments, causing a ripple effect throughout the industry. Private independent power producers (IPPs) are particularly affected, with outstanding dues amounting to Tk 180 billion ($1.70 billion) until March 2023. Furthermore, the Bangladesh Petroleum Corporation (BPC) is struggling to clear payments of around $300 million to different refined-oil suppliers. The crisis is exacerbated by a shortage of US dollars and a currency crisis, hindering the import of fuel and LNG supplies.
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