Let a fair investigation reveal Adani’s tax evasion truth
The ousted Awami League government’s unequal deal with India’s Adani Group in the name of importing power is no longer unknown. Not only that, but there are also allegations that the group has been allowed to evade taxes worth around 4.5 billion taka through duty and tax exemptions.
It is alleged that the fascist Hasina government, bypassing the National Board of Revenue (NBR), gave Adani this opportunity by signing a power purchase agreement. Meanwhile, the Anti-Corruption Commission (ACC) has launched an investigation into the matter. It has sent a letter seeking photocopies of the investigation report of the 9-member committee by the Directorate of Investigation and Investigation.
It is further alleged that a former principal secretary (who was the power and energy secretary at the time of the agreement) and an influential ally of the fallen government played a key role behind this large-scale tax evasion. The ACC has also written to the PDB seeking detailed information on whether government regulations within five working days, but even after this time has passed, the PDB has not provided any information. As a result, the normal pace of the ACC’s investigation is being severely hampered.
According to a report of this daily published on Saturday, Bangladesh has significantly reduced its outstanding payments to Adani power under a long-term power supply agreement, and the company remains optimistic about recovering the remaining dues, estimated at approximately $900 million. The outstanding amount stems from a 2017 agreement between Bangladesh and Adani Power, which committed to supplying electricity for 25 years from the Godda Power Plant in India’s Jharkhand state.
While the lives of ordinary people are miserable due to the pressure of taxes; giving Adani the opportunity to evade taxes and instead selling electricity to the public at a higher price further highlights the fascist character of the ousted government. Through this, not only have the people been unfairly exploited, but the country has also been deprived of income through revenue evasion.
We believe that on the one hand, purchasing electricity at an inflated price through an unequal agreement with this Indian industrial group, and on the other, depriving the country of revenue by providing opportunities for tax evasion, is tantamount to treason. We think that no reform measures will be 100 percent successful if there are ghosts within the system.