Bangladesh Economy

[BananaRepublic]

Why isn't the adani contract made public yet. Its 3 months of the interim government. Power purchase agreements are always linked to price of fuel.

That’s a very good question and very fishy!

If it was as corrupt as the detractors say - it should have been published on day 1!

It all depends whether price was linked to real time spot price or long term hedge.

Pros and cons with both.

We need to find out now!

Stop hiding it, IG!

 

[BananaRepublic]

Just want to add a point here.

Suppose if there is a coal fired power plant in Bangladesh. We to import all that coal from abroad. And when importing, this has to be done through a Bangladeshi bank via an import letter of credit or import without LC.

This is subject to price verification by the banker. And this price verification is done through either their internal databases or from third party sources. And coal prices can vary from region to region. A unit price per ton of coal from South Africa will not be the same as the one imported from Australia. They have to cross check as per country of origin of that coal. If it exceeds the prevailing unit prices, transaction will be put on hold and subject to internal review. And usually would require guidance from Bangladesh Bank (the country's central bank) along with a justification of the pricing. And usually, these meetings don't end well in interest of completing the transaction.

Price verification is a very sensitive activity. If the central bank is not convinced of the price verification performed by the banker, they have right to issue a show-cause. And this letter is sent addressing the MD/CEO of that bank.

I do not know about India. But from what I gather from various sources is that the negotiations between India and Bangladesh during the AL-era were all one-sided in all the deals. This is mainly because the stakeholders on Bangladeshi side were not capable individuals. They were more concerned about their money and properties abroad than working for the benefit of the nation. That there was zero accountability in everything they did.

Assertions made without any substance!

Doesn’t cut mustered given the prior “competent governments” presided over incessant load shedding. And rubbish highways.

National airport looked like a rural railway hub! It was a joke!

IG supporters can getaway with these fact free assertions for now - but if you fail to deliver development - it will be seen as hogwash.

Let’s see what kind of infra future governments and IG delivers.

Your claim of “competence” will catchup if economy doesn’t grow above 5%.

Clever talk is easy. Growth is the real test!

 

[Strider]

Assertions made without any substance!

Doesn’t cut mustered given the prior “competent governments” presided over incessant load shedding. And rubbish highways.

National airport looked like a rural railway hub! It was a joke!

IG supporters can getaway with these fact free assertions for now - but if you fail to deliver development - it will be seen as hogwash.

Let’s see what kind of infra future governments and IG delivers.

Your claim of “competence” will catchup if economy doesn’t grow above 5%.

Clever talk is easy. Growth is the real test!

I don't know what your deal is here. But those are facts from experienced professionals. If you think you can do better, you are most welcome. Try to harm us, you will be sorry.

 

[UKBengali]

Assertions made without any substance!

Doesn’t cut mustered given the prior “competent governments” presided over incessant load shedding. And rubbish highways.

National airport looked like a rural railway hub! It was a joke!

IG supporters can getaway with these fact free assertions for now - but if you fail to deliver development - it will be seen as hogwash.

Let’s see what kind of infra future governments and IG delivers.

Your claim of “competence” will catchup if economy doesn’t grow above 5%.

Clever talk is easy. Growth is the real test!

A lot of the infrastructure projects are already "baked in" and will need to be completed as cancelling them at this stage will cost more than going ahead and will annoy a lot of critical partners.

We can say that the vast majority of the necessary infrastructure at least in terms of power, roads and bridges were either completed or started during the reign of AL.

Like I say before IMF is confident that BD will get back to high growth as soon as 2026 and so as long as BNP does not do a wrecking ball to transition to democracy BD should be just fine.

 

[BananaRepublic]

I don't know what your deal is here. But those are facts from experienced professionals. If you think you can do better, you are most welcome.

What you have presented is chatter and gossip! Provide data e.g. x ton of steel was bought for y when market price was z.

Release the data so domestic and foreign experts can critique it.

Try to harm us, you will be sorry.

Wohoo! Why the trash talk?!! I never threaten anyone especially you guys. Subtle mocking is enough to drive you guys over the edge.

@UKBengali i really do try to engage with them men. But always descends into vitriol and trash talk!

 

[BananaRepublic]

Perhaps you ought to watch the tone you use while engaging with others. You get exactly what you give.

As for proof of corruption, I already posted this article today, clearly you didn't bother reading it as it went against the narrative you want to believe.

Here is an extract-

According to sources from the Power Development Board (PDB), the 1,320 MW power plant at Payra in Patuakhali is charging USD 75 per tonne of coal. In contrast, the coal prices at Chattogram’s Banshkhali SS Power Plant and Bagerhat’s Rampal Power Plant are both under USD 80 per tonne.

Adani, however, is requesting USD 96 per tonne of coal, which is USD 16-21 more per tonne than the prices at Payra and Rampal.

Redirect Notice

Here is another report from Al Jazeera back in 2023. Al Jazeera claims to have reviewed a copy of the agreement.

Redirect Notice

"Under the agreement, Dhaka will pay significantly higher prices – in comparison to what it pays for its other coal-based power – for lower-grade coal. That coal will be supplied from an Adani-owned mine in Australia to an Adani-owned port in India from where it will get shipped to the Godda plant, which is in a coal-mining state.

Apart from that, experts also point out that Bangladesh is not getting the benefit of the tax exemption which Adani Power Ltd got when its Godda plant was declared a Special Economic Zone (SEZ) – the exemption should have been passed on to Bangladesh.

In New Delhi, critics have questioned the whole point of the Modi government going the extra mile to ensure “multiple tax benefits” for a private coal plant that will supply electricity to another country at the cost of its own environment and people."

But you will conveniently ignore all evidence presented to you and will continue with the narrative that it's all gossip by detractors. One cannot have a rational argument with an individual with a biased mindset.

Ok. I didn’t see this.

That’s a good start.

Now we need to know about the quality of the respective coal.

And whether one is spot price (more volatile) and one is hedged price (more stable).

Btw, give me example of where I have used filthy language like your buds. If mockery hurts - tough!

 

[LeonBlack08]

Ok. I didn’t see this.

That’s a good start.

Now we need to know about the quality of the respective coal.

And whether one is spot price (more volatile) and one is hedged price (more stable).

Btw, give me example of where I have used filthy language like your buds. If mockery hurts - tough!

Mockery or flame baiting is also against forum norms. When you use mockery, you are intentionally triggering others. As such you are equally guilty as the person who used abusive language against you.

You either discuss with civility or indulge in mudslinging all day long and eventually get banned. The choice is yours.

 

[BananaRepublic]

Mockery or flame baiting is also against forum norms. When you use mockery, you are intentionally triggering others. As such you are equally guilty as the person who used abusive language against you.

You either discuss with civility or indulge in mudslinging all day long and eventually get banned. The choice is yours.

It is a key tool of critique and political discourse - ideal response to bravado and excessive partisanship and censorship.

Try reading Orwell.

Taught us to respond with scorn, satire and mockery.

Aka pen mightier than sword.

Isn’t that a better way than each side beating the crap out of the other like Bangladeshis regularly do?

 

[BananaRepublic]

As of now, 1200 MW Matabari is closed due to lack of coal, & Rampal and Banshkhali power plants have their production reduced due to outstanding issues; but whenever Adani asks to clear it's outstanding, Bongu media will run stories on how Adani is depriving them of cheap electricity, just like India deprived them of cheap hilsa?

There’s a large constituency in BD that has defined itself by its hatred of all things India.

They are a prisoner of their hatred.

They will belittle India, minimise their power and influence whilst blaming them for everything.

Accepting reality means losing their identity.

In an era of identity politics - that ain’t happening.

 

[Strider]

What you have presented is chatter and gossip! Provide data e.g. x ton of steel was bought for y when market price was z.

Release the data so domestic and foreign experts can critique it.

Confidential information. You work in the corporate world, right? You should know

 

[Afif]

Around $13 billion smuggled annually from Bangladesh, says TIB

Bangladesh loses approximately $13 billion every year to illicit financial outflows, creating significant challenges in recovering this vast amount, according to Dr Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB). He highlighted the issue while addressing a semin

thefinancialexpress.com.bd

One more reason why this revolution cannot be allowed to fail.

 

[BananaRepublic]

Around $13 billion smuggled annually from Bangladesh, says TIB

Bangladesh loses approximately $13 billion every year to illicit financial outflows, creating significant challenges in recovering this vast amount, according to Dr Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB). He highlighted the issue while addressing a semin

thefinancialexpress.com.bd

One more reason why this revolution cannot be allowed to fail.

If economy doesn’t grow by more than 6% and inflation doesn’t come down - it will fail and IG will be kicked out whether you like it or not.

I have no idea how this chap has come to the 13 billion figure and what’s his definition of “money laundering”.

But advanced countries like U.K. and US struggle to trace drug/gang money even with a restriction/paper trail on cash withdrawals.

It is extremely easy to avoid paying tax using the IPR invoicing method.

Amazon Ireland charges Amazon U.K. billions for using its IT platform - result Amazon U.K. doesn’t make any profit hence avoid paying tax.

Starbucks U.K. buys coffee from Starbucks Ireland at extortionate rate - thus Starbucks U.K. doesn’t make any profit.

If Bangladeshi businesses men are using crude methods to avoid tax - they just need to hire a good accountant.

<b>Modi also made a big play to root out money laundering through his demonetisation gimmick - it was a spectacular failure.</b>

I have very little reason to believe why BD would succeed where much more advanced counties have failed.

I understand IG is under pressure to prove BAL’s corruption was unprecedented - but it needs to remember growth and managing inflation are the only things that will save it.

E.g. after spending years throwing accusation regarding the Adani deal - it has still not even published the contract terms let alone provide the proof of corruption.

@UKBengali

 

[BananaRepublic]

Confidential information. You work in the corporate world, right? You should know

If the information is confidential - keep your dog whistling confidential as well?

Open your mouth when it’s not “confidential”.

 

[Afif]

If economy doesn’t grow by more than 6% and inflation doesn’t come down - it will fail and IG will be kicked out whether you like it or not.

We'll see. এতিম লীগ remnants have been predicting revolutionary government's downfall for a while. I know your disdain for this revolution. But this government by definition isn't here to stay forever. It has a lifespan of 16-18 months and then there will be election.

 

[BananaRepublic]

We'll see. এতিম লীগ remnants have been predicting revolutionary government's downfall for a while. I know your disdain for this revolution. But this government by definition isn't here to stay forever. It has a lifespan of 16-18 months and then there will be election.

Take your blinkers off and you might actually become a better human being!

I said the same thing of Hasina as well. I predicted she would be toppled and urged her to step aside.

I am not a narcissistic partisan like you lot!!!

All governments live and fall by the same metric.

It’s the economy stupid!!!

Do you think the formidable Chinese communists would survive if their economy collapsed? Whilst it’s growing and stable - they will get away with all sorts of things.

Ditto Modi in India!

@UKBengali