Government in Crisis Over 20,000 Crore Project
ড প ড স র ২০ হ – The Bangladesh government is facing significant challenges regarding a 20,000 crore taka project managed by the Dhaka Power Distribution Company Limited (DPDC). According to the company’s annual report, the project involves constructing facilities that will only be operational after two decades. If the project is halted, there is a risk that the substantial foreign currency invested will lose its expected benefits. Consequently, continuing the project is deemed essential for broader interests.
Project Progress and Controversies
As of last June, the project’s completion stood at 71%. The minister, Ikbal Hasan Mahbub, emphasized that the initiative has advanced to a stage where reversing it is no longer feasible. He noted that while the project was designed with long-term power demand projections in mind, the actual demand has not matched expectations. This mismatch raises concerns about the facilities becoming obsolete within the planned timeline, leading to potential double expenditures.
“Stopping the project now would result in significant losses. The structures are already in place, and delaying further would mean additional costs.”
Funding Sources and Loan Challenges
The total cost of the project is approximately 16,505.1 million dollars, equivalent to 20,000 crore taka. This includes 11,777 crore from China’s EXIM Bank, 7,441 crore from government allocations, and 1,249 crore from DPDC’s own funds. Although the five-year grace period for repayment has expired, the project’s completion remains pending, complicating loan settlements. The contract stipulates that the debt must be repaid within 15 years.
Corruption Allegations and Communication Issues
DPDC’s executive engineer, Morshed Alam Khan, mentioned that the project’s officials were unreachable despite attempts to contact them. He advised reaching out to the project director, Fazilatun Nesa, through the public relations officer. Meanwhile, the Anti-Corruption Commission (ACC) has initiated inquiries into allegations of graft, illicit wealth generation, and misuse of funds linked to the project. These investigations highlight growing scrutiny over the initiative’s implementation and transparency.
