Meghna Group of Industries has not paid Tk 766 crore in outstanding gas bills over several years, despite its continued consumption of natural gas.
Officials said that the group used influences of having ties with the former Awami League government not to pay the bills.
Of the unpaid amount, Tk 688.26 crore is owed by Everest Power Generation Company Ltd, a subsidiary of Meghna, for the past seven years, while Meghna Sugar Refinery Ltd has not paid Tk 77.44 crore over the last four years.
Officials report that Meghna Group’s captive power plant, which consumes natural gas to supply electricity to Meghna Industrial Economic Zone Ltd, was allowed to operate during a time when the government had halted new captive power plant licenses due to gas shortages and rising global prices. The group allegedly used its political connections to secure the gas supply under favorable terms.
A year later, Meghna Group applied to convert its captive power plant into an independent power plant (IPP), a move seen by officials as an attempt to avoid paying the captive gas bills. Despite using most of the gas for its own operations, the company sought the IPP license under the guise of serving a wider market.
Former CEO and chief editor of Ekattor Television Mozammel Haque Babu is said to have played a key role in lobbying for the group’s captive power plant and later attempted to secure an IPP license. However, these efforts were blocked following a meeting at the Prime Minister’s Office, which discussed gas supply issues in special economic zones, including Meghna’s.
Despite this, Meghna Group has continued to avoid paying its gas bills, benefiting from its previous ties with government officials.
Meghna Industrial Economic Zone (MIEZ) Ltd, owned by Mostafa Kamal, spans 110 acres on the Dhaka-Chattogram highway and boasts uninterrupted utilities, including electricity and gas, according to its website.
However, this gas supply has strained public and private gas-fired plants in the area, contributing to load shedding in Narayanganj and disrupting nearby factories.
In addition, Meghna Sugar Refinery Ltd signed a gas sales agreement with Titas Gas in November 2020, during the COVID-19 pandemic. The company is accused of paying 86% of its gas bills at the lower industrial rate, despite being contracted at the captive rate, which has illegally pressured Titas.
Repeated attempts by this correspondent to reach Meghna Group Chairman Mostafa Kamal for comment were unsuccessful, as he did not respond to phone calls or messages.
Titas Gas Transmission and Distribution Company Managing Director Shahnewaz Parves confirmed that Meghna Group has ignored multiple payment notices. “We are prepared to disconnect their gas lines with approval from top policymakers if they continue to default on payments,” Parves said. He added that other companies are also trying to evade gas payments, increasing pressure on the bulk gas supply.
According to him, the total outstanding gas bills across various companies now stand at Tk 8,551 crore.
