Bangladesh is losing nearly Tk 6,000 crore a year under a controversial power purchase agreement with India’s Adani Group, according to a government-appointed review committee, which estimates the deal is costing an additional $400–500 million annually.
Presenting its findings at a press conference at the Power Division on 24th Jan, the committee described the agreement as the worst contract in the country’s power sector, citing evidence of corruption and undue benefits to a small group of individuals. Investigators indicated that seven to eight people may have received illicit financial gains linked to the deal.
The committee said the interim government lacks the mandate to act and that any decision to cancel the agreement or seek compensation rests with a future elected government. It recommended pursuing arbitration in Singapore to annul the contract.
According to the report, directives related to the deal originated from the office of the former prime minister, and financial irregularities involving multi-million-dollar benefits were identified.
The five-member committee, formed on 5 September 2024 and headed by retired High Court judge Moinul Islam Chowdhury, submitted its report on 20 January. It found that losses at the Bangladesh Power Development Board (PDB) surged from Tk 5,500 crore in 2015 to over Tk 50,000 crore in 2025.
Electricity is being purchased at Tk 12.35 per unit and sold at Tk 6.63, while capacity payments have risen sharply. The report estimates that 7,700–9,500 MW of power remains unused annually, despite no fuel or infrastructure constraints, with capacity payments alone costing Tk 99,000–165,000 crore each year.
The committee warned that contracts signed under emergency legislation prioritized private interests over national needs, granting excessive leverage to a handful of domestic and foreign power producers.
