Dhaka, Feb. 17 -- State-owned energy corporation Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) is facing mounting challenges in recovering Tk 2.10 billion placed as fixed deposits in seven troubled private and scheduled banks, raising concerns over funding for key gas-development projects.

Despite the maturity of the fixed deposit receipts (FDRs), the banks have reportedly failed to release the funds, sparking fears over delays in critical energy sector activities, sources said.

According to an official letter from Petrobangla, the funds belong to two crucial accounts - the Gas Development Fund (GDF) and the International Oil Companies (IOC) payment fund.

The liquidity strain appears to be most acute among Shariah-based len...