Forex crisis forces power cos to seek govt dollar bailout
Dhaka, Jan. 19 -- A heightened dollar crisis forces a growing number of companies to seek finance ministry's intervention to arrange the greenback and help avert default on loan repayment, officials said.
State-run power-producer B-R Powergen Ltd, the owner of 150-megawatt dual-fuel power plant at Kodda, Gazipur, comes last urging the ministry of finance to ask the central bank to supply US$7.9 million to its banker-- Dhaka Bank--for repayment of the 16th instalment of loan.
The public-sector power producer signed deal with the Industrial and Commercial Bank of China (ICBC) and the EXIM Bank of China for buyer's credit in syndicated loan worth $129 million.
The finance division had provided sovereign guarantee in favour of the banking ...
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