Chief Adviser's Press Secretary M Shafiqul Alam said on Sunday that remittances have surged in the country following the fall of the Awami League government, allowing for international payments to be made without depleting reserves.
He indicated that payments for outstanding dues to India's Adani Group are accelerating and are expected to increase further as the government enhances its capabilities.
Shafiqul shared this information during a briefing at the Foreign Service Academy on Sunday evening.
He confirmed that the Adani Group receives payments for electricity imports and attributed the backlog of unpaid bills to the previous Awami League administration.
"We paid $97 million to the Adani Group last month, which is double the amount paid in August," he said, adding that efforts are underway to expedite these payments.
"Our reserves are beginning to increase, enabling us to make international payments without diminishing our reserves. There are $700 million in outstanding payments that we can settle quickly," he said.
He emphasised the government's commitment to energy independence, declaring, "We will not be held hostage to power or fuel dependence; we will achieve self-sufficiency."
In response to a complaint from the executive director of Transparency International Bangladesh regarding the alleged smuggling of $16-18 billion during the Awami League government's tenure, Shafiqul asserted that the previous administration fostered a competitive environment for money laundering.
He noted that the current government is actively working to recover these funds and has established a high-level committee to investigate the extent of the smuggling. More detailed information will be available in the committee's forthcoming white paper report.
Chief Adviser's deputy press secretaries Mohammad Abul Kalam Azad Majumder and Apurba Jahangir were also present at the briefing.
The Indian Ministry of External Affairs, however, stated that the government of India has no role in this contract. "This issue is between two parties. There is a contractual obligation between them: one is a private organization, and the other is the government of Bangladesh," MEA Spokesperson Randhir Jaiswal told journalists during a weekly briefing on Saturday.
He added that he does not have any further information to share at this moment.
According to a report from the Times of India, Adani Power of India has announced it will suspend electricity supply to Bangladesh if the government does not resolve its payment issues by November 7. Following a reduction in power supply due to outstanding dues, Adani Power has set this deadline for the Bangladesh government to clarify the situation regarding the dues, which total nearly $850 million.
Previously, Adani Power had set an October 31 deadline for the Bangladesh Power Development Board (BPDB) to settle the outstanding amount and provide a letter of credit (LC) of $170 million to ensure secure payment. Although the BPDB attempted to issue an LC for the overdue amount through Krishi Bank, the effort did not align with the terms of the power purchase agreement, as reported by Times of India. A shortage of dollars was mentioned as one of the reasons for this misalignment.
As a result, Adani Power Jharkhand reduced its supply from October 31, worsening the existing power shortages in Bangladesh. As per the latest update on the Power Grid Bangladesh (PGB) website, on November 1, Adani's plant in Godda of Jharkhand supplied 724 megawatts against an installed capacity of 1,496 MW.