Allegations of severe financial misconduct, nepotism, and administrative paralysis have surfaced within the Rural Power Company Limited (RPCL), where a powerful three-member syndicate allegedly calls the shots.According to investigation findings, engineer A.H.M. Rashed failed to secure the top position in the Managing Director (MD) recruitment exam, finishing second. Despite this, he allegedly secured the position of Managing Director of RPCL in September 2025 through substantial financial transactions. His appointment was reportedly orchestrated by a close circle comprising Rezaul Kabir, Executive Director (O&M); Shahjahan Fakir, General Manager (Finance); and Nazmus Sayadat, the then Member (Finance) of the Bangladesh Rural Electrification Board (BREB).
Sources allege that these three officials maneuvered to influence the then interim government's advisor, Muhammad Fawzul Kabir Khan, by raising illicit funds to secure Rashed's appointment. This bribe money was allegedly collected from Harbin Engineering, the contractor for the 360 MW power plant under construction in Mymensingh, by Project Directors Rezaul Kabir and Shahjahan Fakir, in exchange for granting illegal favors to the contractor.
Further violations involve the step-up transformer (240 MVA, 132 kV) for the Mymensingh plant, which was delivered in a damaged condition. Without formal approval from the RPCL Board, the procurement authority—under the authorization of then-Acting MD and BREB Finance Member Nazmus Sayadat—allegedly permitted the contractor to repair and redeliver the equipment, granting them undue commercial advantage.
Investigative disclosures reveal that this cycle of corruption severely compromised state interests to fund Rashed's ascension. As a reward for facilitating the process, project director Rezaul Kabir was promoted by the newly appointed MD Rashed to Chief Engineer—and subsequently to Executive Director (O&M) within a span of just two months. Meanwhile, Shahjahan Fakir secured additional responsibilities as Executive Director (Finance) alongside his General Management role.
Staff members report that RPCL’s operational performance has nosedived under this triumvirate. Chain of command has largely broken down, causing widespread frustration among employees. Routine administrative files remain unattended as Rezaul Kabir and Shahjahan Fakir reportedly spend hours lingering in the MD’s office. Critical decisions across RPCL, RNPL, and BPEMC are allegedly dictated by Shahjahan Fakir, leaving MD Rashed heavily reliant on his coterie.
Additional allegations surround the procurement of coal for RNPL’s 1,320 MW coal-fired power plant. Former Acting MD Nazmus Sayadat allegedly awarded a multi-million-dollar contract to "PT Sambar" through a single-source, non-compliant tender process. The company subsequently supplied substandard coal, leading to temporary plant shutdowns. Despite the poor quality—which halted supplies after roughly 600,000 tons—MD Rashed and Shahjahan Fakir allegedly extracted illegal per-ton commissions from the supplier. This rushed transaction was finalized in February 2026, just prior to national elections, bypassing standard institutional evaluation protocols.
Operational neglect has further crippled generation capacity. The gas turbine-4 of the Mymensingh 210 MW power plant remained non-functional for 14 months (March 2025 to May 2026), costing RPCL roughly BDT 1.1 billion. A.H.M. Rashed served as the plant-in-charge during a significant portion of this downtime. With key chief engineering posts intentionally left vacant, generation across four major plants—including Mymensingh, Gazipur (105 MW and 52 MW), and Raozan (26 MW)—remains severely hobbled.
Administrative rules have also been bypassed regarding executive postings. Despite a clear Board mandate to advertise the Executive Director (Finance) position by November 30, 2025, the post remains unadvertised to accommodate Shahjahan Fakir, who lacks the requisite credentials and is currently enrolled in an evening MBA (Accounting) program. This irregular arrangement is allegedly backed by MD Rashed and BREB Chairman Major General S.M. Zia-ul-Azim.
Recent recruitment cycles for Executive Engineer and Sub-Divisional Engineer positions were marred by rampant question paper leaks and seniority violations, engineered to favor specific bribing candidates. Committees responsible for these recruitments reportedly bypassed the Executive Director (P&D) Nayeem, instead installing Rezaul Kabir—due to his close personal ties with MD Rashed and former State Minister for Housing and Public Works Sharif Ahmed, with whom both hail from Mymensingh.
While austerity directives from the Prime's Minister's Office, Ministry of Finance, and Power Division remain in force, top executives including the MD, Executive Director, and GM (Finance) have reportedly procured and misused four new Pajero jeeps for personal and official transit.
Furthermore, Shahjahan Fakir has retained dual control as CFO of the subsidiary BPEMC for over six years, despite the company being virtually inactive for the past two years. Sources claim this position is maintained solely to facilitate financial maneuverings alongside a Chinese partner, "Shenzhen Star." Compounding these concerns, a retired army officer and close associate of BREB Chairman Zia-ul-Azim—Major (Retd.) Md. Kabirul Islam—has reportedly drawn regular salaries as GM (Technical) at BPEMC for two years despite a total absence of operational duties.
Whistleblowers conclude that this entrenched syndicate has effectively hijacked RPCL, compromising national energy security for private enrichment.