Bangladesh’s interim government, led by Nobel Peace Prize winner Muhammad Yunus, has raised serious questions about a major energy deal with Adani Power, a company owned by Indian billionaire Gautam Adani. This deal, signed in 2017 under the rule of former Prime Minister Sheikh Hasina, has now become a hot topic in both countries.
The Deal in Question
The agreement was for Bangladesh to buy electricity from Adani Power’s coal plant in Jharkhand, India. This plant was specifically built to supply power to Bangladesh and currently provides about 10% of the country’s electricity. On paper, the deal seemed beneficial, but recent allegations suggest that things aren’t as straightforward as they appear.
The interim government claims Adani hasn’t shared the tax benefits granted by the Indian government for this project. This is despite a clause in the deal that reportedly promised those benefits to Bangladesh. What’s more, the new administration believes the deal was approved wi...
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