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Dr Khan Zahirul Islam, development economist and economics lecturer at the University of British Columbia, Canada, has alleged that Summit Group evaded taxes worth Tk1,100 crore and engaged in large-scale irregularities in the power sector under the quick rental system.
Speaking at a national convention in Dhaka recently titled “Energy, Economy, Human Rights, Reform and Referendum” organised by the NCP Reform Implementation Committee, he claimed that hundreds of crores of taka were looted in the energy sector between 2001 and 2006.
He further said that Summit Group controls around 21 percent of Bangladesh’s total electricity generation and has allegedly benefited from massive financial irregularities under the quick rental framework.
Zahirul Islam said Bangladesh’s energy crisis is not due to a lack of resources but mainly due to two factors—corruption and flawed policy decisions.
He added that the country spends around 12 billion US dollars annually on energy imports, which accounts for nearly 19 percent of the national budget.
He also pointed out that although Bangladesh has installed capacity sufficient to meet demand, power shortages and load shedding still persist. According to him, this is because installed capacity is not being fully utilized and is instead being turned into a major source of corruption.
Highlighting potential solutions, he suggested focusing on waste-to-energy initiatives. He noted that Bangladesh produces around 25,000 to 30,000 tons of waste daily, including 6,000 to 7,000 tons in Dhaka alone. If converted into energy, he said, it could generate around 300 to 400 megawatts of electricity daily, which could help reduce load shedding.
https://thedailyexpress.news/news/business/1f1485cf-298f-6e60-a519-a3a2debfba72