In order to move its money that is still locked with the financially troubled National Bank Limited (NBL), Power Division has asked the central bank to step in.
The state-backed Bangladesh Power Development Board (BPDB) has reportedly been having trouble paying various unpaid invoices as a result of a delay in financial transfers.
According to reports, the bank involved in the scheme owes Power Division almost Tk 8.50 billion.

In order for the private bank to transfer the money that were previously advised by the BPDB, the division has requested that the Bangladesh Bank take the following step.

In three accounts under the Motijheel and foreign-exchange branches of the bank, the Bangladesh Power Development Board (BPDB) had more than Tk 13.29 billion.
The bank only sent Tk 4.78 billion in response to the BPDB’s request, according to a source.
Despite numerous requests, National Bank is not acting to transfer the remaining Tk 8.50 billion in accordance with the advise that has been given.

“The BPDB is facing a setback in paying bills for oil/gas purchase, IPP/SIPP, rental/quick rental, and electricity imported from India due to a delay in cash transfer as per advices made by the BPDB,” a BPDB official told reporters when she was approached.

“The BPDB requires funding to ensure that coal and furnace oil are purchased on time, gas businesses’ outstanding bills are paid, electricity import bills are paid, and government and commercial power production companies’ outstanding bills for imported power plant equipment are paid.”
According to the official, the BPDB has been asking money transfers through letters on a regular basis, but to no avail, because of the bank’s lack of liquidity capability. The requests are not being fulfilled by the bank.
He said that a sizable portion had been held up by several banks and a state-owned organization for a long period, making it extremely difficult to pay for gas, electricity, and other services.