Bangladesh-India Friendship Power Company Limited (BIFPCL) has requested the government to urgently release Tk 6.32 billion, warning that delays could jeopardise its ability to meet lender obligations and trigger substantial financial penalties, sources say.
It recently wrote to the finance ministry, seeking an immediate allocation of the fund.
According to the letter, BIFPCL is required under its financial agreements to maintain a balance of Tk 8.50 billion in the Debt Service Accumulation Account (DSAA) by May 31 this year and Tk 9.76 billion by June 30.
Ramanath Pujari, the company's managing director, stated in the letter that BIFPCL was facing difficulties in maintaining the stipulated DSAA balance due to the non-receipt of full payments from beneficiaries.
The present balance stands at Tk 7.25 billion.
Based on the current cash flow projections, BIFPCL would not be able to maintain the balance by May 31, Ramanath said.
The failure to maintain the balance could result in a 2.0 per cent interest charge on the entire outstanding loan of around $1.372 billion, which would impose an additional burden of around Tk 3.37 billion annually.
Considering how critical it is to comply with lender obligations, the joint venture company sought the finance ministry's intervention in the release of the certified pending bills, which would enable BIFPCL to meet the DSAA obligations.
It said the matter was extremely urgent.
A Finance Division official told The Financial Express last week, "We have already started working on the matter and made some progress."
BIFPCL, a joint venture of Bangladesh Power Development Board (BPDB) and India's National Thermal Power Corporation (NTPC), currently operates two 660-megawatt power units at the Maitree Super Thermal Power Project (MSTPP) in Rampal of Bagerhat.
According to internal documents, the facility contributed to nearly 11.50 per cent of Bangladesh's total electricity demand in November 2025.
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