Bangladesh’s Interim Government to Probe Power Deals from Sheikh Hasina’s Tenure

Bangladesh’s interim government, under Chief Adviser Muhammad Yunus, is stepping up its examination of power sector agreements signed during the tenure of former Prime Minister Sheikh Hasina (2009-2024).  National Review Committee on Power, Energy, and Mineral Resources announced on Sunday that it had recommended the appointment of an internationally reputed legal and investigative agency to evaluate the contracts, including one with India’s Adani Group. 

Calls for Transparency and Accountability 

committee’s statement, issued through the Chief Adviser’s Office, labeled Sheikh Hasina’s rule as “autocratic” and emphasized the need for thorough scrutiny of agreements that have raised concerns about transparency and fairness. 

“We are committed to ensuring that all investigations are conducted in alignment with international standards, enabling us to address potential renegotiation or cancellation by global arbitration laws,” the statement read. 

Focus on Controversial Contracts 

Among contracts being scrutinized are high-profile deals such as: 

• Adani Godda BIFPCL 1234.4 MW Coal-Fired Power Plant 
• Payra 1320 MW Coal-Fired Power Plant 
• Meghnaghat 335 MW Dual-Fuel Plant 
• Ashuganj 195 MW Gas Plant 
• Bashkhali 612 MW Coal-Fired Plant 
• Meghnaghat 583 MW and 584 MW Dual-Fuel and Gas/RLNG Plants 

Se projects, which were central to Sheikh Hasina’s energy policy, are now under scrutiny for alleged inefficiencies, high costs, and potential favoritism towards influential domestic and foreign corporations. 

International Legal Expertise 

the committee underscored the importance of engaging external experts to ensure the investigation meets international arbitration standards. This step is seen as crucial for potential renegotiations or legal actions to rectify any irregularities in contracts. 

Justice Moyeenul Islam Chowdhury, chair of the review committee, highlighted the necessity of leveraging international expertise to maintain credibility in findings and uphold Bangladesh’s position in global arbitration processes. 

Implications for Adani and Or Stakeholders 

focus on  Adani Group reflects growing concerns over cross-border energy agreements perceived to disproportionately benefit foreign entities at Bangladesh’s expense.  Adani Godda plant, which exports electricity to Bangladesh, has been particularly controversial due to its high costs and alleged unfavorable terms. 

A Broader Reform Agenda 

This probe aligns with the interim government’s broader agenda to restore public trust and enhance governance in critical sectors. By scrutinizing major infrastructure deals,  the administration seeks to address long-standing grievances over corruption and mismanagement in the energy sector. 

Future Outlook 

government’s next steps, including the appointment of a proposed investigative agency, will likely have significant implications for Bangladesh’s energy sector.  Findings could lead to renegotiation or even cancellation of contentious agreements, setting a precedent for transparency and accountability in public contracting. 

Observers anticipate that this initiative could redefine Bangladesh’s approach to energy partnerships, ensuring more equitable and sustainable development practices in the future.