Petrobangla to Submit Draft PSC to Prime Minister

With 49 out of 153 power plants in Bangladesh operating at full capacity, the country is grappling with ongoing power outages exacerbated by scorching summer temperatures. Maintenance and fuel shortages have forced the closure of 53 additional plants, totaling 4,930 megawatts of capacity.

The Dhaka stock market experienced its largest single-day decline in nearly seven months due to panic-driven sell-offs triggered by rumors of a proposed capital gains tax on secondary market investments. Investors reacted anxiously to reports of a 15% tax on individual capital gains, prompting a rush to sell holdings.

Telecom operator Grameenphone has set an ambitious target to cut its carbon emissions by 50% before 2030, using 2019 emissions as a baseline. The company is actively implementing various initiatives to reduce its carbon footprint. These include enhancing energy efficiency, investing in renewable energy sources, fostering an energy-conscious culture, and collaborating with partners to minimize environmental impact, particularly in the supply chain.

Adani, an Indian power company, has encountered payment difficulties as the Power Development Board (PDB) in Bangladesh grapples with a shortage of dollars. Adani supplied 700-750 MW of electricity during the trial production period, totaling around 1.5 million units to PDB.

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 Payra 1,320MW Thermal Power Plant in Patuakhali, Bangladesh, has halted operations due to a lack of coal supply, resulting in a daily capacity payment burden of Tk 7.66 crore for the government. With two units completely shut down, the monthly capacity payment amounts to Tk 230 crore.