The White Paper Committee on Sunday said that the total capacity-rental payment to the private sector power plants from 2010-11 to 2023-24 was approximately Tk115,000 crore.
The Committee submitted its report to Chief Adviser (CA) Professor Muhammad Yunus on Sunday, saying they were horrified by the level of corruption, plunder, and statistical manipulation conducted by Hasina's regime, according to a statement posted on the CA's official Facebook page.
The rental plants that were awarded in 2010-11 made as high as 35 per cent profit against a standard of 15 per cent. The windfall would not be less than Tk10,000 crore, it added.
Regarding revenue leakages and fiscal drainage, the committee in the final draft of the White Paper said systemic tax evasion, misuse of exemptions and poorly managed public finances have deprived the state of critical resources, stalling development.
"Between 2009 and 2023, illicit financial outflows averaged USD 16 billion annually-more than double the combined value of net foreign aid and FDI inflows," it said.
Over the Energy and Power sector, the paper said the Prime Minister's Office (PMO) was the most powerful political institution in the country and throughout the past government, the Ministry of Power, Energy and Mineral Resources (MPEMR) had no full-time minister.
"Instead, the prime minister held additional responsibility as minister for MPEMR since 2009. Under her leadership, ruling political party members, lobbyists, private businesses, and independent power producers became major stakeholders in this sector bypassing due processes."
It said the energy adviser, the state minister, and the Power Division were the conduit of corruption.
The paper said assuming the underutilisation of other power plants (gas, coal) the total excess capacity payment would not the less than Tk 36,000 crore in the last 15 years.
In the draft it said the estimate of excess capacity payment is a difficult task.
It said the overall plant factor (percentage of utilising full capacity) of the total system varied between 42 per cent and 46 per cent in the last five years.
"This is an indication of a very inefficient system," the paper said, adding, "A 65 per cent plant factor is achievable by minimising maintenance, reducing standby capacity and full supply of fuel.
Since 2014-15, HSD and HFO power plants awarded under Special Provision Act were paid Tk15,551crore and Tk9,100 crores as capacity payment respectively.
The average plant factors of HSD and HFO in the last five years were only 32 per cent and 9.22 per cent respectively. Assuming at least 65 per cent plant factor the oil-based power plants under Special Provision were paid Tk10,000 crore additional capacity payment.
The paramount allegation of corruption was in awarding power plants in the form of commissions, the paper said.
"Obviously, there is no documentation of such transaction but 10 per cent of the project cost is a conservative estimate. With an investment of $30 billion in generation since 2010, at least $3 billion changed hands as kickback."
"Every single deal from a small solar plant to a mega project like Adani was approved by the PMO," it said.
