![]() In a sign of further pain for the government, state-owned Bangladesh Power Development Board (BPDB), responsible for generating electricity and distribution, has delayed the payment of more than $1.5 billion to private power producers by months, also blaming the shortage of dollars. In September, Reuters reported that State Bank of India had asked exporters to avoid settling deals with Bangladesh in dollars and other major currencies as its reserves fell, favouring instead the taka and rupee currencies.įor years, Bangladesh's $416-billion economy has been one of the world's fastest growing but is facing many challenges now. Despite all ups and down, we are maintaining foreign reserves of more than $30 billion."īPC imports 500,000 tonnes of refined oil and 100,000 tonnes of crude oil every month.Ĭreditors included Unipec, the trading arm of China's state-owned Sinopec, Vitol, ENOC, Indian Oil Corp Ltd (IOC), PetroChina and Indonesia's BSP, BPC's April letter said.īPC will have to pay $41.1 million this year for diesel to India's Numaligarh Refinery, majority owned by Oil India, while IOC is owed $147.2 million for diesel and jet fuel, the May letter showed.īPC asked the government to allow nationalised commercial banks to settle payments to Indian companies in rupees. ![]() "We need to prioritise given the context of the global economy. "We are managing everything rationally," Bangladesh Bank spokesperson Mezbaul Haque said. Neither the ministry nor BPC responded to telephone calls to seek comment.īangladesh's dollar reserves have shrunk more than a third since Russia's invasion of Ukraine in February last year to stand at a seven-year low of $30.18 billion. That followed a warning in a letter in April which said: "If it is not possible to import fuel according to the import schedule prepared for May, supply may be disrupted throughout the country with an alarming decrease in fuel reserves." dollars, commercial banks are unable to pay for imports on time," BPC told the Power Ministry in a May 9 letter. "Due to a shortage of foreign currency/dollars in the domestic market and the central bank not meeting demand for U.S. When asked about the letters, the central bank told Reuters it was acting rationally and prioritising dollar disbursal "given the context of the global economy". Separately, the body responsible for generating electricity and distribution also warned it had to delay payments due to the currency crunch.īPC, which controls the import and marketing of fuel in the country, has asked the government to permit domestic commercial banks to settle money owed to India in rupees. ![]() The country is already grappling with power cuts that have hurt its exports-oriented garments industry. It owes more than $300 million to six overseas companies, some of which have either sent fewer cargoes than scheduled or threatened to halt supplies, according to one of the two letters from the Bangladesh Petroleum Corp (BPC) reviewed by Reuters. Breaking News : all bangla newspaper bangla newspaper all bangla newspaper app newspaper how to read english newspaper bangladesh newspapers bangla newspaper app all bangla newspaper apk bangla newspaper design ajker bangla news all bangla newspaper list bangla newspaper prothom alo bdnews24 bangla all bangla newspaper amar desh world news bangla newspaper reading bangla newspaper design tutorial reading newspaper bangla tutorial bangla news 24 bdnews24 all bangla newspaper all bangla newspapers list of all bangla newspaper 2022 list of all bangla newspaper 2023 list of all bangla newspaper 2024 list of all bangla newspaper 2025 kolkata all bangla newspaper read all bangla newspaper bangladeshi newspapers all bangla newspaper bd news all bangla newspaper all bangla newspapers online all bangla newspaper in bangladesh all bangla newspaper address all bangla newspaper app all bangla newspaper apk all bangla newspaper app for pc all bangla newspaper all bangla newspaper all bangla newspaper amar desh all bangla newspaper app apk all bengali newspaper app all bangla newspaper prothom alo all bangla newspaper mod apk amardesh all bangla newspaper ajker all bangla newspaper all all bangla newspaper a list of all bangla newspaper bd news all bangla all newspaper all bangla newspaper email address all bangla newspaper bd all bangla newspaper bd online daily all bangla newspaper bd.com all bangla newspaper online list.DHAKA, May 22 (Reuters) - Bangladesh is struggling to pay for imported fuel because of a dollar shortage, letters from the state petroleum firm show, with it warning of an "alarming decrease" in fuel reserves.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |