In the hands of Gujarati businessman, the dark light of the whole Bangladesh, if the government makes a mistake, the whole country will be in darkness!

Adani Group has written to the Bangladesh Power Development Board (PDB) of Bangladesh demanding immediate payment of over ₹1,000 crore dues. The letter clearly warned that if the payment is delayed further, the power supply in Bangladesh may be severely affected.

The issue has come up at a time when elections in Bangladesh are around the corner and the country's economic as well as political situation is already vulnerable. The letter, sent by the Adani Group before the end of interim government chief Muhammad Yunus' tenure, has once again brought the ongoing financial dispute between the two sides into the limelight.

Debt over ₹1,000 crore in Indian currency

As reported by Pratham Alo, on January 29, Adani Power Limited vice-president Avinash Anurag wrote to the PDB chairman. The letter stated that immediate payment of US$112.7 million, which works out to over ₹1,000 crore in Indian currency, is required to maintain regular operation of the power plant.

Of this total amount, US$53.2 million is arrears till June last year, while US$59.6 million is added for power supply provided till October. Adani Group claims that PDB has failed to pay this amount despite repeated requests.

The letter further stated that due to the mounting arrears, the power generation, maintenance and plant partners are under increasing pressure. If payment is not made promptly, it may become difficult to maintain uninterrupted power supply.

Warning of power cut from November 11

Even before this, there was a dispute between the two parties regarding the outstanding payment. Last year, the Adani Group had sent a similar letter, giving a deadline of November 10 and warning of disconnection of power supply from November 11 if payment was not made. Bangladesh then repaid nearly $100 million in November, but the arrears started rising again in December and the old arrears have yet to be paid in full.

Meanwhile, parliamentary elections are to be held in Bangladesh on February 12. Amid the election atmosphere, parties including BNP, Bangladesh Jamaat-e-Islami are campaigning vigorously. On the other hand, former Prime Minister Sheikh Hasina's Awami League has been banned.

In such a scenario, Adani Group's latest letter is not only a power supply issue, but also raises several questions about Bangladesh's economic stability and policy decisions ahead of elections.

. Source