Energy Adviser Dr Fouzul Kabir Khan has assured that contracts in the power and energy sectors will now be awarded based on merit and efficiency rather than political connections, a shift he believes will foster competition and drive economic growth. Speaking at a seminar titled “Way of Mitigating Energy Crisis in Industrial Sector,” organised by the Bangladesh Chamber of Industries (BCI) at a city hotel on Saturday, Dr Khan criticised past practices that favoured politically connected businesses over capable contenders. Call to increase investment in renewable energy in Global South “For 15 years, only a select group of businessmen with ties to ministers or the government secured contracts, stifling healthy competition and, in turn, suppressing the economy. This will change now, as private investment is being encouraged, and contracts will be merit-based,” he said. The seminar, chaired by BCI President Anwar-ul-Alam Chowdhury Parvez, brought together policymakers and industry leaders to discuss the energy crisis hampering industrial growth. Commerce Adviser Sheikh Bashir Uddin supported Dr Khan’s vision, highlighting improvements under the current interim government. “Today, businesses are no longer required to pay extortion fees to secure deals. This transparency should motivate entrepreneurs to innovate and embrace modern technology,” he said, urging stakeholders to seize this window of opportunity. Bangladesh needs smart grid system to keep power supply stable: Energy Adviser Industrialists shared grievances about the acute shortage of gas and electricity in hubs like Narayanganj, Savar and Gazipur. BCI President Parvez revealed alarming statistics, stating that 200 industries shut down between March and September this year due to the energy crisis, with another 300 at risk. Dr Khan attributed the issues to years of misallocated public investment and mismanagement but expressed optimism about reforms underway. “We must invest in renewable energy and sustainable solutions. Solar power plants can provide a viable alternative for industries,” he urged. The Adviser also disclosed plans for an open tender to transport 70 million cubic feet of gas from Bhola to Dhaka, emphasising the importance of transparent processes. Petrobangla Chairman Zanendra Nath Sarker highlighted stable gas supplies until 2030 and encouraged local businesses to explore opportunities in offshore gas exploration through international tenders. The seminar concluded with calls for industry-wide collaboration to address the energy crisis and a renewed commitment to transparency and competition in awarding contracts.

Nassa Group Chairman Nazrul Islam Majumder had Tk 261 crore in interest waived on a loan from Janata Bank, allegedly using his political connections.  This waiver, on a loan of Tk 156 crore, allowed Majumder to avoid paying any interest. As a result, the total loan amount, which had ballooned to Tk 417 crore with interest, was drastically reduced by the waiver. Investigation by Bangladesh Bank uncovered that the interest waiver was granted in violation of standard banking regulations. Notably, none of the seven permissible reasons for waiving interest applied to Majumder’s case. Despite this, all types of interest—both charged and uncharged—were forgiven. NASSA Group owner Nazrul Islam Majumdar being investigated for multi-million dollar money laundering scheme Sources claim both Janata Bank and Bangladesh Bank were compelled to grant the waiver due to political pressure.  Majumder, a dominant figure in the banking sector, has held the influential position of Chairman of the Bangladesh Association of Bankers (BAB) for the past 15 years. According to several private bank chairmen, Majumder’s power in the sector is unparalleled. “He’s an undeclared mafia in the banking sector. No one could oppose him because of his closeness to former Prime Minister Sheikh Hasina,” one chairman said. Majumder is also accused of collecting massive donations from various banks for former Prime Minister Hasina’s relief fund. Reports suggest he solicited Tk 2-3 crore from smaller banks, Tk 4-6 crore from mid-tier banks, and up to Tk 20 crore from larger banks annually.  He is also alleged to have profited from the inter-bank football tournament, charging an entry fee of Tk 25 lakh per participating bank. Many in the banking industry felt trapped under Majumder’s influence. All the bank chairmen were effectively hostages. No one dared to speak against him, said several chairmen. 

Chief Justice Hasan Foez Siddique has urged to keep the judiciary free of political influence. He made the call at a farewell reception held on the last working day of his tenure as the 23rd Chief Justice of Bangladesh on Thursday (August 31, 2023). The chief justice said the judiciary is the protector of the fundamental rights of the people. It is also the protector of the constitution, he said. Therefore, judges have to be brave and just. If the judiciary fails or deviates from the impartial application of the law, the state and citizens are bound to suffer, said the chief justice. Also read: The chief justice meets President Hamid and brief him about SC activities: Bangabhaban Independence of the judiciary is essential for the development of true participatory democracy, preservation of the rule of law, ensuring the rights of weaker sections of society, and establishing social justice, he added. Urging to make sure that the judiciary be free of political influence, the Chief Justice said, “It is the responsibility of judges, lawyers and every responsible citizen of the state to protect the judiciary from social, economic and political influences. Also read: Chief Justice opens up on limitations, ambitions of judiciary “If we, you, all of us fail to fulfill that duty, every citizen will face a difficult time. “It is not good for the judiciary if the political divide crosses the road and comes towards the court. We have to remember that division and disagreement among lawyers and their reactions affect the judiciary. “The great spirit with which our constitution was framed, we all have a great national responsibility towards that. We must ensure that all the laws and all legal activities of the country reflect the constitutional spirit. People want peace, but we still have a long way to go for complete peace,” the chief justice said. The chief justice is retiring on September 25. However, today was his last working day. As per tradition, he was given a farewell reception at 10:30 am. The farewell reception was held in the Appellate Division's courtroom-1 of the Supreme Court. Also read: Hasan Foez new Chief Justice of Bangladesh Supreme Court Bar Association President Momtaz Uddin Fakir and Secretary Abdun Noor Dulal and Attorney General AM Amin Uddin on behalf of the Attorney General's Office, gave the reception. All the judges and lawyers of the Appellate Division and the High Court Division of the Supreme Court were present on the occasion.