Bangladesh is so short of dollars
Bangladesh is so short of dollars that it can no longer pay its gas bills and imports are being delayed, Reuters reported. Bangladesh Petroleum Corporation (BPC) owes more than $300 million to six overseas companies, some of which are sending less than expected shipments or threatening to halt supplies, according to a letter from the company. The country is already grappling with power cuts that have hurt garment exports, its main business. Separately, the agency responsible for power generation and distribution has warned that it is having to delay payments because of the monetary squeeze. The Bangladesh Petroleum Corporation (BPC), which controls all fuel imports and sales in Bangladesh, a country of nearly 170 million people, has reportedly asked the government to allow domestic commercial banks to settle dues with India in rupees.