Dhaka, Jan. 3 -- The Bangladesh Power Development Board (PDB), in response to the Dec 21 report titled "Power board losses hit historic peak", has said the article relied on "baseless allegations" that "tarnished" the image of the state-owned company.

In a statement sent on Dec 30, the PDB said it posted a loss of Tk 87.48 billion in the 2023-24 fiscal year, with subsidies totalling Tk 382 billion, including Tk 90.41 billion for electricity imports from India.

In 2024-25, the government did not provide subsidies for the deficit from imported electricity, causing the company's loss to rise to Tk 170 billion, it added.

"Compared with 2023-24, the 2024-25 fiscal year did not see a doubling of losses; instead, nearly Tk 8 billion was saved...