With support from the Prof Yunus-led interim government, Petrobangla has fully repaid Tk 8,702 crore in debts incurred during the authoritarian Awami League era to various foreign gas suppliers and organizations, two months ahead of the scheduled deadline on 30 April.
In a statement on Wednesday, the state-run energy company said it has paid total Tk45,253 crore, including the Tk8,702 crore debt.
The debt was owed to international oil companies, long-term LNG purchase contract signatories, spot market LNG sellers, International Islamic Trade Finance Corporation as well as the dues of two LNG floating terminals.
The company attributed the success in repaying debts to regular bill payments by consumers and the practice of setting monthly deadlines for distribution and production companies to repay their dues.
Gas bills were collected at faster pace from power producers and fertilizer producers through inter-ministerial coordination.
Moreover, the number of authorized banks was increased to facilitate the settlement of payments for long-term and spot LNG purchases. Bangladesh Bank also implemented special measures to expedite the clearance of import bills.
The Energy and Mineral Resources Division as well as the Finance Division sanctioned Tk2,000 crore loan to Petrobangla through the Bangladesh Petroleum Corporation, further easing the debt repayment process for Petrobangla, it said.
Bd-pratidin English/ Afia
