The price of gold has increased in the country's market again. This time, it is increasing by 1,575 taka per bhori. With this, the price of good quality gold stands at 1,43,526 taka per bhori. This new price will be effective from Thursday.

This information was given in a press release of the Bangladesh Jewelers Association (BAJUS) Price Determination and Price Monitoring Committee on Wednesday (October 30) evening.

The release said that the price of acidic gold (pure gold) has increased in the local market. As a result, the new price of gold has been determined considering the overall situation.

According to the new price, the price of 22-carat gold per bhori (11.664 grams) will be 1,43,526 taka. In addition, the price of 21-carat gold per bhori will be 1,37,05 taka, 18-carat gold per bhori will be 1,17,433 taka and the price of traditional gold per bhori will be 96,520 taka.

Bajus said that the government-determined 5 percent VAT and Bajus-determined minimum wage of 6 percent must be added to the selling price of gold. However, the wage may vary depending on the design and quality of the jewelry.

Earlier, Bajus last adjusted the price of gold in the domestic market on October 22. At that time, the organization had increased the price of a 22-carat gold by Tk. 1,890 per bhori and set the price of a 24-carat gold at Tk. 1,41,951.

It is worth noting that so far this year, the price of gold has been adjusted 45 times in the domestic market. Where the price has been increased 28 times, and reduced 17 times. And in 2023, the price was adjusted 29 times.

Usually, the bid is reduced through negotiations after the initial proposal. But information has been received that Gazprom increased the price by 4 million dollars in the 3-well drilling project in Bhola.

In Gazprom's original proposal, Tobgi, Elisha and Bhola North-2 submitted a bid of 60.81 million dollars. The technical committee recommended reducing the bid by overstating the bid. Bapex sources said that several million dollars were secretly increased without reducing the price. One source claimed that it was to be increased by 4 million dollars to 65 million dollars, while another source claimed that it was to be increased by 2 million dollars to 63 million dollars.

Bapex has never spoken about the bid, and whenever the price issue came up for discussion, it has strategically avoided it. Even now, Bapex people are desperate to make the bid secretly. When asked about the bid from Bapex Managing Director Md. Shoaib, said that the issue was before I joined, the exact figure is not known.

An English daily has written that 77 million dollars is not correct. When attention was drawn to this matter, the Bapex MD said, I am sure that the 77 million dollars figure is not correct. However, I cannot say exactly how much.

In addition to the price, the technical committee itself raised objections to the allocation of Gazprom rig mobilization for the Tobgi, Ilisha and Bhola North-2 drilling projects while the rig was still in Bhola. Gazprom was given a bill of 4 million dollars, ignoring the objections of that committee.

The opinion of the technical committee was not heeded at that time for the work, which was awarded without a tender under a special law. When Gazprom proposed to drill the well, a high-level committee was formed on October 13, 2019, consisting of Petrobangla, Bapex and various officials.

The committee was formed with the then Director (Operations and Mines) of Petrobangla as the convener, the Managing Director of Bapex, the ministry and a representative of BGFCL. The committee clearly mentioned in its report that the mobilization sector has allocated 40,62,576 dollars against the drilling rig, technologies equipment and tools, technological material and personnel for the Tobgi-1 exploration well. In reality, since the drilling rig and equipment are stored in the Bhola area, it is acceptable to mention shifting instead of mobilization. The rig was already there.

Even after that report, Gazprom was given 40,62,576 dollars for mobilization as per their demand.

The committee also raised objections to the allocation for well drilling along with rig mobilization. The report presents statistics on previous well drilling conducted by Gazprom. It presents statistics on drilling of 8 wells of Bapex (Shrikayil-3, Begumganj-3, Semutang-6, Shahbazpur-3, Shahbazpur-4, Shrikayil-4 Shahbazpur East-1, Bhola North-1) from 2013 to 2017. It said that 3 wells were drilled vertically and 5 wells were drilled directionally. The prices of the 3 vertical wells including mobilization were 17.69 million, 16.72 million and 16.48 million dollars respectively. On the other hand, 20.28 million dollars have been proposed for Tobgi, 20.28 million dollars for Elisha-1 and 20.25 million dollars for Bhola North-2 wells. That is, the prices proposed for the 3 wells are an average of 3.29 million dollars more than the prices for drilling the previous wells. The committee in its recommendation said to discuss the prices. But who listens to whom? State-owned company Bapex has recorded a bill of 63 million dollars instead of 65 million dollars, including Gazprom mobilization. That is, even though Gazprom made a mistake in asking, Bapex did not hesitate to pay. The report shows that Gazprom was paid 3.29 million dollars more than the Bhola North-1 well drilled a few months ago.

Usually, the DPP is finalized considering the type of work and the cost of purchasing materials for a project. But in the case of Gazprom, a formal DPP was issued based on how much to pay. In the case of well drilling work given to Gazprom without a tender, the price was determined in the ministry. Later, information was found that each well was paid 100 to 130 crore taka more. And all sorts of sectors were shown to match that cost figure.

There has been a demand to scrutinize all the contracts signed with Gazprom under a special law without a tender. A syndicate has embezzled several thousand crore taka from the country through the tender given at the highest price. The concerned have requested the Special Act Contract Review Committee to expose those involved in the looting.

The work that the state-owned company Bapex could do for 70 to 80 crore taka has been given for 200 crore taka when Gazprom was given 200 crore taka per well, Bapex dug the Rupganj well (2015) at a cost of 61 crore taka. The estimated price in the DPP of that project was 97 crore taka, Bapex completed that work for 61 crore taka and returned the remaining money. The cost of digging the Shrikail East-1 and Salda North-1 wells (2016) was 144 crore taka. This brought the cost per well to 72 crore taka.

Gazprom's commission recipients try to present various arguments. They said that since Bapex used its own rig, it did not have to pay rig rent, so the cost is low. If you add the rig rent, the price paid to Gazprom is not even close. The ideal time to drill a well is considered to be 45 days (although it is completed in 30 days), so the rig rent (daily rent of 20 thousand dollars/120 taka) is around 100 crore taka. That is, the total is 820 crore taka.

Energy experts said that there are also such examples that can be called terrible at the same time. Yet the Taufiq-e-Elahi Chowdhury syndicate has done that terrible thing. In 2014, the proposal to drill the Srikail-4 well was approved in the 354th board meeting of Bapex. The 64 crore DPP (Project Development Proposal) was approved in the 10th board meeting. The approved DPP was sent to Petrobangla. The rule is that work will start subject to Petrobangla's approval.

But instead of approving the 64 crore taka DPP, Petrobangla was ordered to send a DPP of Tk. 200 crore. A DPP of Tk. 200 crore was forced to be made for the same work (same depth). And that work was given to Gazprom.

The chairman of the National Group, Abdus Sattar Mia (Mia Sattar), a Bangladeshi expatriate living in Russia, is behind this. The mysterious man Mia Sattar was once Bangladesh's ambassador to Russia. Since the Awami League was in a state of chaos, he did whatever he wanted. Despite many controversies, his misdeeds did not stop.

Professor Shamsul Alam, CAB's energy adviser, told Barta24.com that the issue of drilling the Bhola well is not related to Bangladesh's energy demand. Such anarchy, where a job worth 10 taka is being paid for 100 taka, cannot be found anywhere in the world. All the wrongs committed to give work to Gazprom are criminal offenses, and they should be prosecuted under criminal law.

Amit Shah, Union Home Minister and Minister of Cooperation of India, inaugurated the Passenger Terminal Building and Maitri Dwar at Land Port, Petrapole in West Bengal on 27 October 2024.

In his remarks, Indian Union Home Minister said that the Land Port Authority of India (LPAI) is making a significant contribution to country’s development, along with improving relations with neighbours, and facilitating the exchange of language, culture and literature. He also said that LPAI is opening pathways of friendship for border security, border trade, border connectivity, and connectivity among people in eastern India.

The Petrapole (India) – Benapole (Bangladesh) Land Port is one of the most important land border crossings for the two countries, both in terms of trade and passenger movement. Nearly 70% of land-based trade and nearly 30% of total trade (by value) between India and Bangladesh takes place through this Land Port. Petrapole Land Port is also the eighth largest international immigration port of India and facilitates movement of over 23.5 lakh passengers annually between India and Bangladesh.

The new Passenger Terminal Building at Land Port Petrapole is a significant addition to the region's infrastructure which will enhance the travel experience between India and Bangladesh. With a built-up area of 59,800 square meters, the Passenger Terminal Building has a passenger handling capacity of 20,000 per day. It will house immigration, customs, and security services under one roof and is equipped with all modern facilities such as basic medical facilities, Infant/baby feeding Room, food and beverages outlets, duty free shop, etc.

The Maitri Dwar is a joint cargo gate that has been built to ease and streamline the flow of goods between India and Bangladesh. This dedicated cargo gate will significantly accelerate the release and clearance of goods at the border, thereby enhancing trade efficiency. It is equipped with modern day facilities such as ANPR, boom barriers, facial recognition cameras and access-controlled entry/exit points for Indian and Bangladeshi Trucks.

The United Group, which has become a mafia in the electricity sector, is still alive. The company has continued to cut into the pockets of customers with its two power plants. Many have expressed surprise that the two power plants, which ignored the rules and regulations and even the High Court orders during the Awami League government, are still operating.

The two 86 MW gas-based power plants in the Dhaka EPZ and the 72 MW gas-based power plants in the Chattogram EPZ have become golden eggs for the United Group. While the cost of generating electricity per unit with gas is Tk.4.17, it is selling that electricity to various customers at a rate of Tk. 10.88. In some cases, this rate is much higher.

The plants are capable of generating 1 lakh 58 thousand units of electricity per hour. The total for a day (24 hours) stands at 37 lakh 92 thousand units. If there is a profit of Tk. 1 per unit, it is a huge amount, there is a profit of almost Tk. 4 (after operating expenses). The company is raising smoke and selling at a cheaper rate than the government electricity distribution company. There is an attempt to fool people by saying this.

The Power Development Board buys electricity from various sources. Just as there is gas-based electricity priced at Tk. 4.17, there is coal-based electricity priced at 8 to 12 taka, furnace oil priced at 16-18 taka and diesel-based electricity priced at 28 taka. It is natural that the average price of all of them will be much higher. But the United Group, which was close to the government, continues to generate electricity from the lowest cost source (gas) and cut into the pockets of the customers.

There has been an unprecedented fraud in the gas price of the power plant. At that time, the gas price for captive power (power plants for own use in industries) was 30 taka (per cubic meter), and for government power plants it was 16 taka. When United Group demanded gas prices at the rates of government power plants, the matter was referred to the Bangladesh Energy Regulatory Commission.

The Regulatory Commission rejected United Group's claim. Then the matter was referred to the High Court, and when it was rejected there, United Group lost even after going to the Supreme Court. Then, ignoring all laws and regulations, gas prices were reduced by executive order. It is said that the gas prices were reduced in a special agreement with the high echelons of the then government. It is said that a share of the profits reached various people in the country and abroad.

Not only is there fraud in gas prices, United Group is the only organization in the country that reserves the power to determine electricity prices according to its own wishes. In this case, United Group has become a parallel organization to BERC. In other cases, BERC determines electricity prices, but United Group sells them to various companies at their determined prices. Under the existing law of Bangladesh, there are government, private power plants and captive power plants. Power plants in the IPP category will produce electricity according to the government's needs and sell it to the government. They have no opportunity to sell electricity outside. Again, captive is called the commercial category; in this case, there is a limited opportunity to sell surplus electricity outside after using it in their own factories, subject to conditions. There too, BERC has been given the authority to set prices in the law.

However, no law was followed in the 86 MW gas-based power plants located in the Dhaka EPZ area of the United Power Generation and Distribution Company and the 72 MW gas-based power plants located in the Chattogram EPZ. Since the power plant does not sell electricity to the government, BERC set the gas price at 30 taka per cubic meter considering it captive. At the same time, the gas price for IPPs (Independent Power Producers) was 16 taka.

It is said that the conflict between the Regulatory Commission and the executive branch began from here. Following this, the executive department snatched the process of setting gas and electricity prices from BERC. The ministry started pressuring the United Group to set a price of 16 taka. Correspondence started between the Power Division and BERC regarding this.

The then chairman of BERC, Abdul Jalil, made it clear that the law does not cover it as IPP in any way. Therefore, they will have to pay the captive price (30 taka). The Regulatory Commission, ignoring the Power Division's eye-rolling, upheld the order.

The then chairman of BERC, Abdul Jalil, told Barta24.com that legally, there is no chance for the matter to become IPP. We gave that ruling. I do not know what happened later.

The then member (Gas) of BERC, Maqbul E-Elahi Chowdhury, told Barta24.com, that the matter seems like the eighth surprise to me. I do not understand how they got the IPP price. When they came to BERC, we rejected them, later they applied for review and it was rejected there too. As far as I know, the High Court has also rejected them.

In response to a question, he said, their project started as a captive. I don't see any chance of becoming an IPP. A person came to pressure United. We just told him to never interfere in the future.

In response to a question, CAB's energy advisor Dr. Shamsul Alam told Barta24.com that this license is against the basic structure of the state. The constitution of the state is in conflict with the law and policies. No private company has the authority to issue a distribution license. But United Group is doing distribution. Is the Prime Minister above the law, can approval being given only when she gives an order? The Prime Minister did not have the authority to give this.

Regarding the gas price, he said, they are captive workers. There is no chance of giving them gas at IPP rates.

Under the umbrella of the Awami League government, the United Group has set precedents that are rare not only in Bangladesh but all over the world. The definition and interpretation of the law have all been changed, and the United Power Generation and Distribution Company (UPGD) have emerged as a new entity. The people of PDB themselves were hoping that violence would decrease after the change of government. But it is still spreading due to the touch of invisible magic.

The group emerged as a mafia in the power sector during the Awami League government. There are allegations of rigging the tender for the construction of a 195 MW power plant in Ashuganj. They syndicated with the Ashuganj Power Station Company and strategically canceled the tenders of others and took the work themselves at a high price. Although 29 percent of the power plant was supposed to be given to the Ashuganj Power Station Company, only 6 percent of the shares were given. The 2 power plants located in Khulna have been sold three times. The KPCL-2 (115 MW) power plant was contracted for the first 5 years in 2010. Although they withdrew their investment in the first 5 years, they again blew away several thousand crores of taka in the name of capacity premium in 2016.

Barta24.com contacted United Group Chairman and Managing Director Moinuddin Hasan Rashid. He was asked how right the BERC rejection, the High Court and the Supreme Court rejection were. In response, he said, our concerned department can speak well on the matter.