Member Info for Pappiklon

The knock on effect continue, there is not a lot they can do in the present moment but forr the future it can only be a case of crossing the 't's and dotting the 'i's, they really have to put that plan in place for the future.

''Several industries are seeing a rise in production costs and an exponential fall in production due to frequent power outages every day in Gazipur, one of the major industrial hubs of the country. As a result, the industrialists are not being able to export products on time. They are now in fear of incurring a massive loss and losing buyers abroad for this.

Meanwhile, people in remote rural areas of the districts are passing days in absolute misery as the frequency of power outages has increased along with the temperature.

However, the officials of Bangladesh Rural Electrification Board (BREB) claim that they have a limited power supply as compared to the demand. So they have no other choice than imposing area-wise load shedding.

According to the sources in the Gazipur BREB, power is distributed in the Gazipur industrial area through a total of 155 feeders. Of them, 100 supply power to different industries. The remaining feeds provide electricity in residential areas. The total demand for power in the district is around 600 MW to 650 MW. The demand rises during the summer with the rise in temperature. However, the supply is less than half the demand. Although there is an instruction from the government to avoid power outages in industries, it is not being possible to maintain that due to the power crisis. So they have to force power outages in several phases every day.

Speaking to industry owners, it has been learnt that although Gazipur was supposed to have less load shedding for being an industrial area, it’s just the opposite in reality.

Even the government's instruction of maintaining a schedule and making prior announcements before load shedding is being ignored. Subsequently, the production cost has gone up in several industries. At the same time, the production rate is falling. So the risk of incurring a huge loss and foreign buyers is looming large.''

https://en.prothomalo.com/bangladesh/local-news/mlauy8p3dn

Don’t think most of us here in the west realise the severity of what these constant power cuts mean.

Back in 2006 I was living in Sihanoukville a then undeveloped seaside town in Cambodia. I had a flat on the 3rd floor of what was then a newly built small apartment block. We often had power cuts but generally pretty short, minutes rather than hours. One day a digger cut the mail power line into the whole area, it was a week before we got electricity back. What it meant was that in blistering heat we had no air con, no fans, the electric shower didn’t work, the electric water pump to supply the flat didn’t work so no running water, there was no water to flush the toilet, there was no power to charge your phone, the tv/dvd player didn’t work, no internet, the fridge wasn’t working so no keeping food cool, anything in the little freezer melted and of course no lighting. We had to lug bottled water to drink, to wash and to flush the toilet up 3 flights, we had the windows open all the time day and night in the hope of a breeze it was something I will never forget because it made me aware of how much the locals must have been suffering and how lucky we are in the west as we take all these things for granted. Believe me the suffering the Bangladeshi population is experiencing is not something they will easily forget, it will be way more than I experienced, but it will also be something they will also be expecting solutions to.

''The country has marked the highest record of load-shedding in recent times with a power deficit peaking at around 3,300 megawatts, as temperatures soared to a sweltering 43 degrees Celsius in some regions.

"We are not receiving enough electricity compared to the demand in our distribution area. We are forced to impose load-shedding even during this hot weather, with some rural areas experiencing outages for up to 14 to 15 hours,"

"If Dhaka, the capital, is experiencing power outages 14 to 15 times a day, then imagine the plight of rural areas outside Dhaka. I have never seen such a terrible outcome of the government's 100% electrification initiative," he said.

Abu Hanif, a resident of Nangalkot upazila in Cumilla, told TBS, "The intense heat and power cuts are extremely worrying, especially for my young children and elderly parents. With rising cases of heatstroke, there seems to be no relief in sight."

The heatwave has already claimed the lives of at least 40 people in the past six days, according to a TBS analysis of media reports.''

https://www.tbsnews.net/bangladesh/load-shedding-hits-3200-mw-mercury-soars-43degc-bangladesh-839246

And more on the IMF conditions re Energy subsidies

A finance ministry official said IMF may set a condition for the government to reduce its spending on subsidy.

the government still provides subsidy for electricity and gas, the IMF may set conditions to follow a timeline for gradually reducing subsidy for these two items.

Already, IMF has collected data on government spending in subsidy for electricity and gas.

https://www.thedailystar.net/business/economy/news/imf-loan-govt-may-miss-two-key-targets-set-fourth-tranche-3598466

So much of the news of late has one common solution to alleviate many of the economic woes of the country, but it's such a massive multi billion $ project they want to get their ducks lined up first. In addition no business, or government, would sign off on a project with such far reaching implications and benefits without doing their own due diligence checks, they are engaged in multiple projects with Power China already but I would be very surprised if they weren't doing due diligence on GCM, all these things take time, no surprise there has been nothing from the Energy meeting 8 days ago, absolute silence, they re not going to announce anything until they have the answers to the questions that they are going to be asked, financing, relocation, land acquisition, infrastructure, transportation, work force and training etc etc. My investment is based on my belief it's coming, could have come sooner but right now we appear to be in the perfect storm for a PR coup in presenting it as the forward thinking solution to alleviate so many woes

$4biion shortfall on previous reduced reserves target

The International Monetary Fund (IMF) has observed that Bangladesh's net reserves fall short of its target and has asked the Bangladesh Bank for a proper action plan by 8 May detailing how to bolster the stockpile of foreign exchanges.

The visiting IMF mission made the observation during a meeting on Monday with senior officials of the Bangladesh Bank to review the progress on its various targets ahead of the release of the third tranche of the $4.7 billion loan, a central bank official present at the meeting told The Business Standard.

He said the country's net reserves at the end of March were about $4 billion short of the IMF's target of $19.26 billion.

Also, the global lender has asked for complete information about the amount of money laundered from the country. It also called for information about the progress of the central bank's steps to prevent money laundering,"

https://www.tbsnews.net/economy/imf-asks-proper-action-plan-8-may-building-reserves-839576

And More

https://www.observerbd.com/news.php?id=470431

Load Shedding getting much worse, knock on affect right across the economy and all walks of life.

The Power Division has directed all commercial establishments, including shopping malls, to be shut by 8:00pm and asked that AC temperatures be kept at 25°C or above to ensure uninterrupted power during the ongoing heatwave.

The Power Division also asked shops, shopping malls, petrol pumps and CNG stations to avoid using extra lights with a view towards lowering electricity costs.

The Power Grid Company of Bangladesh (PGCB), the only state agency for transmission of electricity from power stations to the national grid, today said the electricity demand across the country was 16,200MW at 2pm.

However, electricity generation stood at 12,753MW, resulting in a deficit of 3,447MW.

https://www.tbsnews.net/bangladesh/energy/keep-ac-25degc-close-malls-8pm-ensure-uninterrupted-power-power-division-839256

All those 50k's that have just gone through were buys L2 showing 6.75:7.25 actual on IG is 6.81:7.00, Guess we always have to remember every buyer needs a seller and vice versa so kind of irrelevant !

Header should have Adverse consequences of load shedding

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

Agree Searcher at 2pm there was 416,518 on the bid at 7p

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