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All this information about power problems in their own country you’d think they will approve this open pit mining to mitigate this. Doesn’t solve the problem 100% but it more than helps reduce this issue.
What is Solutiin? - PHULBARI!
Energy Meeting this Sunday - they will be discussing SOLUTION! 🦉
Https://primenewsbd.net/get-news/29555
Chinese and Indian companies operating in Bangladesh, particularly those in the energy and power sector, have enjoyed numerous benefits for an extended period. However, they are now poised to encounter obstacles. Despite the government's intentions to assist them, they may find themselves deprived of financial advantages due to the International Monetary Fund's (IMF) stipulations.
For the past 15 years, the government has been extending various financial benefits to companies from China and India. However, due to the loan conditions imposed by the IMF, the government is now hesitant to continue offering these policy incentives. Despite its desire to provide such facilities, the government finds itself compelled to withdraw from them.
According to reliable sources, last week, the 1320 MW Bangladesh-China Power Company (Pvt.) Limited (BCPCL), also known as the Payra Thermal power plant, which is owned by the China Bangladesh Joint Venture Company, has applied for an extension of the Advance Income Tax (AIT) deduction at the import level on imported coal until June of next year.
The AIT deduction benefit on imported coal for the ultra-supercritical system power plant is set to expire in June of this year. Recently, BCPCL has submitted a request to the National Board of Revenue (NBR) seeking an extension of the deadline for AIT deduction on coal. The two Chinese companies involved in the BCPCL joint venture are China National Machinery Import and Export Corporation and China's state-owned China General Technology.
In addition, both the NBR and the Power Department have provided various policy and financial benefits for the government's procurement of power from the 1600 MW power plant of Adani Power Limited, constructed in Jharkhand, India last year. These benefits include special opportunities aimed at enhancing profits through a 25-year contract.
At that time, the opponents of the Adani contract called for its revision or even cancellation, citing this power contract as ‘against the interest’ of the country. At present, Bangladesh is importing about 1500 MW of electricity from Adani Power Limited.
Meanwhile, the IMF’s extended loan facility has called for all sorts of reforms to boost NBR’s revenue. The international body has asked to revoke NBR’s voluntary power to grant tax holiday benefits. Under this power, tax officials of NBR can grant tax holiday benefits to any taxpayer individual or company.
IMF believes that only the national parliament can have such power. Apart from that, a list of which sectors will get tax holiday benefits in the current budget has been announced. But beyond this list, the budget said that the NBR can give tax holiday benefits to any sector if it wants. IMF said, this power also need not be in NBR’s hands.
Besides, companies in the gas extraction sector get a special tax benefit called ‘Depression Allowance’. Although the companies do no
- Forget to add environmental issues addressed & (important) Locals on board for this which previous Govts say want to go with their wishes.
About Fundraise - think some probably forward sold ALREADY to cover new stock & also think big chunk will be RETAIN be abuse of what actually happening / Upside potential.
I think lot of (very) recent sell was small private investor holders (can tell from some comments lol).
Now we so close to fundraise price & VERY IMPORTANT MEETING this Sunday - we will see how many can get their Holding levels back up.
As I say again - many in last few months have had Pants pulled down as STRONG SUPPPORT / LOW STOCK kicks them out with fast price push back up.
I am comfortable & safe with my holding - do not need to stress! 🦉
Insects make noise but Header say ALL!
I keep my focus on HARD INTEL and not empty screaming / shouting which is useless for understanding of Investment - we all know which posters provide HARD INTEL!
- Bangladesh Economic base is collapsing as Factories close because of Energy shortages.
- Forex reserves Critical so Energy Import compromise because must pay with dollar. This compromise IMF borrowing facility.
- This is unlike previous years and WHY Energy Minister / News Media now talk of Domestic Production / Phulbari Development.
- Two way discussions ALREADY taken place with Govt (remember BB posters not part of this lol) indicate Phulbari go ahead!
- We have PowerChina who have highest level Govt access & now move to CONTRACT basis.
Some people focus on fundraise (which was expected) - many will focus on REAL investment points to Phulbari go ahead and this approach has stopped them from having pants pulled down by Share Price strength / Support.
Energy Meeting Sunday - Header say all - Monday could see MASSIVE price trajectory up or Consolidation before next push (if no mention).
Since Energy Supply is BIGGEST issue for Energy Committee /Country - you decide what it will be!
Be Wise 🦉
Looks like the government are going to stop certain benefits on imported coal due to the IMF…..
“For the past 15 years, the government has been extending various financial benefits to companies from China and India. However, due to the loan conditions imposed by the IMF, the government is now hesitant to continue offering these policy incentives. Despite its desire to provide such facilities, the government finds itself compelled to withdraw from them.
According to reliable sources, last week, the 1320 MW Bangladesh-China Power Company (Pvt.) Limited (BCPCL), also known as the Payra Thermal power plant, which is owned by the China Bangladesh Joint Venture Company, has applied for an extension of the Advance Income Tax (AIT) deduction at the import level on imported coal until June of next year.
The AIT deduction benefit on imported coal for the ultra-supercritical system power plant is set to expire in June of this year. Recently, BCPCL has submitted a request to the National Board of Revenue (NBR) seeking an extension of the deadline for AIT deduction on coal. The two Chinese companies involved in the BCPCL joint venture are China National Machinery Import and Export Corporation and China's state-owned China General Technology.”
https://primenewsbd.net/get-news/29555
Far from disappointing to me, the paragraph below gives me {a sense of reassurance as the Company can focus on what needs to be done.
Whatever the shareprice there's always room to take advantage of opportunities.
The net proceeds of the Subscription will provide the Company with working capital to support the strategy to progress the Phulbari Coal and Power Project through the next 16 months on the Company's current cost basis.
5p here we come....
You can count on GCM to disappoint, though I expect Hasina is ducking the issue, formed an investigative unit to look at the effects of coal mining on the local populace and........
blah, blah blah -
When I saw this mentioned the other night the warning bells started ringing as this procrastination is standard Hasina (in)action
These problems will not just suddenly disappear.
. Their FX reserves have fallen back below the IMF limit of 20 bill, power plants are again sitting idle through lack of fuel, because they cannot afford the import bill, and even the simple task of running the port seems to be beyond them.... Nobody even wants to take the responsibility, and cover the costs, of continually dredging the channel to allow the coal ships access to the port even when they can afford to import.
.... Its just such a mess.
.. Surely they really will have to bite the bullet and mine large amounts of their own coal.
All points to a inept Gov't at present. They have been deferring this for far too long now and the only outcome thus far has been it's people suffering.
The GOB need to appreciate that being a developing country constitutes being pro active and being able to show the IMF and ''important folk'' that they are more than capable of helping themselves and not always putting their hand out.
The Phulbari Coal project will not only more less sort their energy crisis out but also give employment to the people of Bangladesh.
There has to be a twist here right?
Looks like they have more issues with importing coal..
https://en.barta24.com/amp/details/business-en/221684/tug-of-war-over-matarbari-port
Https://www.newagebd.net/post/Banking/232946/bangladesh%5C%27s-gross-forex-reserve-dips-to-$19.89b
If coal is going to be Bangladeshi's main source of energy, then the Gov't in place seriously need to wise up and start thinking ahead. They cannot continue to finance the import of coal. Parties are not being paid. Main source of energy supply comes from coal.
The people are suffering daily or frequent power cuts in extremely humid conditions where temperatures can touch 40 degree celcius. I'm sure many people there suffer from extreme heat. This in itself is inhumane.
Why worry about the environment when human life is compromised every day with extreme exhaustion and heatstroke which is serious and life threatening.
Common Gov't - use some common sense and get this deal done and over the line. Stop faffing about and place the wellbeing of your population at the centre of your Agenda on Sunday at the Energy meeting. If you're reading this Hasina, please take note!
“Officials informed me that the plant needs about 10,000 metric tonnes of coal per day if it runs at full capacity.
If the payment against power supply is not received by the CPGCBL, it will be very difficult to continue the supply as the company has to import coal from abroad, said another top official of the plant.
Officials also said the government’s cash crunch might have been the main reason behind the non-payment of the bills submitted by the CPGCBL.”
https://unb.com.bd/category/Bangladesh/matarbari-power-plant-not-getting-payment-against-power-supply-to-national-grid/134113
Header says it ALL!
🦉
YKIR @ 16:04
"I'll be surprised if the bid is any higher than 6p.'' 🤦♂️
Oh dear! 🤣
@professional, there's ALOT said on this board, ALOT quoted all without saying much at all.
Just empty justifications without answering any real questions.
Here we are at 6p.
MM this and MM makers that ha
We will see this fly soon enough, just relax and stop with all the 'researching'.
Tang knows what he's doing, straight as a die that guy.
so that was why it as being held down. corrupt as **** these mms but what a great buy order.
For me the approval is on the way and reason for being here also the reason for fund raise ahead of the same with maybe one day left to get pals on board at a cheap price as low as possible so if it goes lower tomorrow it does not matter.
"A shareholder is someone who owns shares in a limited company. They own the company along with other shareholders (if there are others). A subscriber is the name for someone who was a shareholder at the time of the company's incorporation."
With that definition, Axis have the ability to sell the shares piecemeal when they like having already paid for all of them and as they are insiders and selling to pals they will happily sell forward at a low price to beat approval or indication of which may be in the future because Sunday could throw up delays in the meeting even if an implicit approval is indicated.
Yes a nice £60K purchase!
From yesterday when it spiked higher
I suspect a few are in the know
He said all that was needed back in '08 , when you were prob playing "tiddlywinks". And is the reason why I have a nice 2.5p avg ..and you , my son, are def not.
Searcher you remind me of Wos....!!
Posting a lot. Saying very little... desperation...? Yup
Late trades today will be interesting