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Govt may go to international court over ‘abnormally priced’ Adani Power deal
Energy minister says Dhaka is also considering discussions with Adani Power to amend the 2017 agreement
Govt may go to international court over ‘abnormally priced’ Adani Power deal
Energy minister says Dhaka is also considering discussions with Adani Power to amend the 2017 agreement
Star Online Report
Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku today said that based on the national committee’s report, the government is actively considering approaching the international arbitration court regarding the power purchase agreement with India's Adani Power.
The government is also considering amending the power purchase agreement through discussions with Adani Power, the minister said while answering a question from Shahjahan Chowdhury MP in the parliament.
He asked whether the power purchase agreement signed with the Adani Group had been reported in the media as "unusually expensive" compared to domestic and international markets, or as contrary to national interest. "Is there any legal avenue at present to re-examine or amend this agreement in an international court or through diplomatic negotiations? If so, what steps has the government taken so far to re-evaluate this agreement?" -- asked Shahjahan Chowdhury.
In reply, the energy minister said that the power purchase agreement signed in 2017 has been reviewed by a national committee formed under the leadership of a retired Supreme Court judge during the interim government.
The committee included power and energy experts, legal experts, economists, and chartered accountants, and the committee took the opinion of a legal institution specialising in international contracts on the matter.
The national committee mentioned in its report that the agreement signed with Adani Power by the previous Awami League government was signed at an “abnormal price” compared to the domestic and international markets.
In light of the national committee's report, the government is actively considering approaching the international arbitration court regarding the agreement or amending the agreement in discussions with Adani Power, he said.
Energy minister says Dhaka is also considering discussions with Adani Power to amend the 2017 agreement
Star Online Report
Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku today said that based on the national committee’s report, the government is actively considering approaching the international arbitration court regarding the power purchase agreement with India's Adani Power.
The government is also considering amending the power purchase agreement through discussions with Adani Power, the minister said while answering a question from Shahjahan Chowdhury MP in the parliament.
He asked whether the power purchase agreement signed with the Adani Group had been reported in the media as "unusually expensive" compared to domestic and international markets, or as contrary to national interest. "Is there any legal avenue at present to re-examine or amend this agreement in an international court or through diplomatic negotiations? If so, what steps has the government taken so far to re-evaluate this agreement?" -- asked Shahjahan Chowdhury.
In reply, the energy minister said that the power purchase agreement signed in 2017 has been reviewed by a national committee formed under the leadership of a retired Supreme Court judge during the interim government.
The committee included power and energy experts, legal experts, economists, and chartered accountants, and the committee took the opinion of a legal institution specialising in international contracts on the matter.
The national committee mentioned in its report that the agreement signed with Adani Power by the previous Awami League government was signed at an “abnormal price” compared to the domestic and international markets.
In light of the national committee's report, the government is actively considering approaching the international arbitration court regarding the agreement or amending the agreement in discussions with Adani Power, he said.
