Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Finacial Express editorial
https://today.thefinancialexpress.com.bd/editorial/adverse-consequences-of-load-shedding-1713974243
Not able to pay airlines either because of $ shortage crisis, not being able to pay for imports of all sorts of items as s result of energy import fiasco.
https://www.tbsnews.net/economy/aviation/iata-calls-bangladesh-unblock-323m-airline-funds-835761
State Minister for Power, Energy, and Mineral Resources Nasrul Hamid told the media, "We are asking power plants to run at full capacity. However, the main issue here is finance. The gas supply needs to be regular. I have enough power plants. I can supply up to 18,000-19,000MW. Coal-based power plants are also in my hands. My primary challenge is ensuring continuous operation of the power plants and providing them with financial support. This is my main challenge right now."
Incredible admission of failure!
Rare sadmission of failure"
In this reality, the Bangladesh Secretariat has been instructed to limit the use of electricity – a rare restriction for the country's administrative hub, which usually enjoys uninterrupted power supply."
https://www.tbsnews.net/bangladesh/people-suffer-load-shedding-hits-1500-mw-835691
3rd Loan Tranche: IMF team to focus on four key areas
'the visiting IMF mission will discuss matters related to fuel, power and energy subsidies, public debt, upcoming budget, and performance of the state-owned enterprises'
Under pressure to reform !
https://www.thedailystar.net/business/economy/news/3rd-loan-tranche-imf-team-focus-four-key-areas-3593216
Only going to get more problematic, large part of the solution use own resources then you don't have to pay/borrow to pay others for inferior commodities
https://www.thedailystar.net/business/news/bangladesh-govts-debt-servicing-foreign-loan-soars-3592671
... i
The International Monetary Fund, which has lent $4.7 billion to overcome the shortfall in foreign exchange reserve, also seeks rationalising subsidy on the energy sector so that the government can increase allocation for education and health
https://www.newagebd.net/post/editorial/233211/continued-subsidy-for-power-sector-is-no-answer
...and while wait
People’s suffering increased because of a surge in power cuts.
At 1:00am on Sunday, the Power Grid Company of Bangladesh reported that load-shedding stood at 966MW with 14,288MW generated against the demand of 15,300MW.
The load-shedding at the same hour on Saturday was recorded to be 517MW.
The power demand is likely to exceed 16,000MW by today, potentially leading to an even worse power crisis.
‘Load-shedding has become so frequent that we can hardly sleep at night,’ said Hosne Ara, 50, a resident of Kuni Para, Tejgaon.
‘We spend long hours walking in the streets at night,’ she said.
https://www.newagebd.net/post/country/233217/power-crisis-soars-amid-scorching-temp
Anu Muhamed was instrumental in the ill fated disturbances in Phulbari way back when, and whilst I think of him as a Marxist rabble rouser I eouldnt wish nor condone physical harm towards anyone not matter what their agenda. I’m not a conspiracy theorist but this is ond heck of a coincidence ‘whilst on his wsy back from Phulbari’
https://www.daily-sun.com/post/744481
Dhakka Tribune – Budget insights
'reducing unnecessary imports, reducing unnecessary expenditure, reducing money supply, and cutting down on subsidies '
' giving priority to fast-track infrastructure projects'
The budget preparation committee believes that the next budget's main goal is to reduce inflation. To fulfil this target, the budget will be formulated on the basis of five pillars. These are: increasing bank loan interest rates to control inflation, discouraging or reducing unnecessary imports, reducing unnecessary expenditure, reducing money supply, and cutting down on subsidies
giving priority to fast-track infrastructure projects
The estimated inflation for the current financial year is 6.5%. But it was not possible to meet the target. Last February, the inflation rate was 9.67%. Therefore, the next budget may target inflation at 7.5%.
However, in the new budget, the pressure to pay the subsidy arrears of the past few years will be high, resulting in an increase in overall expenditure in the subsidized sector.
https://www.dhakatribune.com/business/economy/344333/what-is-in-the-next-budget-to-tame-inflation
PM is actually in charge of this ministry...and 5 others, doesn't mean she will be there but .....
Among the ministries, she will head the defence ministry, the power energy and mineral resources ministry, cultural affairs ministry, and the labour and employment ministry, according to a notice issued by the Cabinet Division today (11 January).
https://www.tbsnews.net/bangladesh/politics/pm-hasina-head-cabinet-division-armed-forces-defence-and-three-more-ministries
From observation here there seems to be a misconception about these placing shares. It's highly unlikely that the whole £2m was done to one party, indeed I know of one connected individual who claims to have some of them, it follows on that if multiple parties got shares they are not all going to have the same agenda, some will want a quick profit, some will hold and sell some, others will hold. Any influential Bangladeshi parties are highly unlikely to have participated for an immediate profit, so whilst we have seen some forward selling it stands to reason that there isn't necessarily going to continue and those thinking that most of this placing will get sold into the market imho are misguided. I've relapsed on having an opinion rather than just providing news but there you go, tomorrows a new day !
The Japanese invested billions into this, it was the jewel in the crown, deep sea port, supercritical technology but the Government isn't paying them for the power they have taken out of this huge investment all because they can't pay for the imported coal. I suspect one of the reasons there has been no attempt to pay is also because paying off all these energy import bills will drop their forex reserves even lower that they are already taking them under the IMF requirement of maintained reserves to get their 3rd loan tranche. They really are in dire straights and need to prove to he IMF and their creditors that they are taking positive steps for the future. If my business was deeply in the hole and I went to the bank for a loan they would want to see what I was going to do to fix the problem before even considering lending, There is only one way to do that here and thats to start mining their own resources and alleviate the energy import bills anything else is like putting a sticking plaster on after a motorway pile up
https://unb.com.bd/category/Bangladesh/matarbari-power-plant-not-getting-payment-against-power-supply-to-national-grid/134113
Link to page
https://www.gcmplc.com/sites/gcm-resources/files/2024-01/GCM_Resources_ARA_2023_Final_Glossy.pdf
Search gcm resources clear capital and it will take you to the gcm webdite and the annual report so it will be in there, its 69 pages long snd i’m jet lagged and going to sleep so u will need to do it yourselves, plus from memory it was mentioned at the agm during or after
Power cuts surge amid persisting heatwave
https://www.newagebd.net/post/country/232697/power-cuts-surge-amid-persisting-heatwave