Dhaka-Adani power deal under scrutiny

The interim government of Bangladesh led by Dr. Muhammad Yunus is contemplating scrutinising Indian business including Adani Group exporting power from its Jharkhand unit under a seven year old agreement , Indian express has reported. The new government is keen to know specifically the terms of the agreement and whether the price being paid to the company is justified, the paper said.

The deal with Adani group was signed in 2017 when Sheikh Hasina Wajed was the Prime Minister in Bangladesh. There will be scrutiny of Indian Business , like the Adani business , what kind of contracts have been signed , what are the terms and conditions, one can not have a foreign company not follow the law of the land’, the paper said quoting a senior functionary of the interim government who did not want to be named.

What will be the implications of such an investigation for India or the current regime that Adani is closely identified with, but the fact it will delve into issues like whether what Bangladesh is paying , may lead to further embarrass Sheikh Hasina and her regime . Adani Power (Jharkhand ) APJL Ltd had signed a 25- year agreement for purchase of 1,496 MW power with Bangladesh Power Development Board. The Express quotes Adani Power Spokesperson saying, ” we have no information of the Bangladesh government reviewing our PPA, In the spirit of true partnership, we continue to supply power to them despite the massive outstanding owed to us.’ Media reporters suggest that Adani group owed around 500 million dollars as overdue payments from the Bangladesh government.