Bangladesh shuts largest power plant amid coal crisis
Bangladesh on Monday closed its largest power plant as it was unable to afford coal to fuel it, reported AFP. Amid rising electricity demand due to scorching heat, the 1,320-megawatt government-run Payra Power Plant had already reduced its production in May due to fuel shortages, manager Shah Abdul Mawla said. Mawla hoped that production would be restored within three weeks when coal shipments arrived.
Bangladesh's official inflation rate is 9.9%
Notably, Bangladesh has been struggling against the depreciating currency, and its official inflation rate is about 9.9%. Its foreign exchange reserves plummeted from $46 billion in January 2022 to $30 billion at the end of April 2023. Recently, Bangladesh has been witnessing nationwide blackouts for up to five hours per day, even as the country recorded a temperature of 41.1 degrees Celsius on Monday.
