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Published : 06 Sep 2024, 08:39 PM
The Customs Intelligence and Investigation Directorate, or CIID, has launched investigations into the contract for power imports by Bangladesh’s Power Development Board, or PDB, from India's Adani Group, focusing on issues related to customs duty exemptions or waivers during the import process.
A committee of eight officials has been tasked to thoroughly investigate how customs-related matters are being handled during the imports from Adani.
CIID Director General Mohammad Fakhrul Alam approved the formation of the committee on Thursday, headed by Joint Director Adip Billah, and includes a member-secretary and six other members.
Gautam Adani, a billionaire accused of large-scale stock market fraud, is widely known to be close to Indian Prime Minister Narendra Modi.
Adani established a power plant in Godda, Jharkhand, near the border of West Bengal, to supply electricity to Bangladesh.
Allegations have surfaced that he has been charging Bangladesh higher prices for coal purchased for this power plant, leading to a meeting between the two sides in February last year.
Meanwhile, reports in Indian media claim that Adani is making double the profit by selling electricity to Bangladesh. This has led to calls for the cancellation of this expensive agreement, which was made during deposed prime minister Sheikh Hasina's tenure.
In light of these developments, the CIID is launching the inquiry to examine whether there were any irregularities regarding taxes and duties in the power agreement with Adani.
When asked which aspects the investigation would cover, Billah told bdnews24.com: "First, we will examine the contract made with Adani to understand its specifics.
"Next, we will look into which customs stations were used for the power imports and what their declarations were."
The committee head added that they would also verify whether the HS code used for importing electricity from Adani aligns with the Customs Act.
"We will begin with the contract to check whether customs laws have been properly followed."
Billah said the committee will get down to work on Sunday.
It will verify the unit price of imported electricity and whether duties and taxes are applicable in this case, assess how much duty and tax has been applied to the imported electricity so far and whether it has been paid.
The committee will also investigate whether there was any agreement regarding duty waivers for the imported electricity and whether any notification or order has been issued on this matter.
It will also examine through which customs house or station the electricity was imported, the process followed, whether any bill of entry was submitted, and if it was settled legally.
The committee will also check if any department of the National Board of Revenue, or NBR, was assigned the responsibility for the customs clearance of the product.
The committee is expected to submit a report on its findings within 30 working days and has the authority to co-opt members if needed.
CIID Deputy Director Md Mizanur Rahman has been appointed as the committee’s member-secretary.
The other committee members are Deputy Director Munmun Akhtar Dina, Revenue Officer Mozammel Haque Bhuiyan, Revenue Officer Palash Kumar Mallik, Assistant Revenue Officer Asaduzzaman, Assistant Revenue Officer Md Abul Kashem, and Assistant Revenue Officer Md Sahed Hasan Limon.
Earlier, on Nov 5, 2017, a power purchase agreement was signed between the Power Division and Adani Power, under which Adani is building a power plant in Jharkhand.
To bring this electricity to Bangladesh and connect it to the national grid, a special transmission line has been constructed.
In Bangladesh, Power Grid Company of Bangladesh, or PGCB, has built two substations and other transmission facilities in Chapainawabganj and Bogura.
