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impose any obligation for local employment. But the companies will have the right to take back the income, gift, profit to its country,” he said.

In case of any economically volatile situation, he said the government cannot impose any taxes on the companies. If it does so, the companies will have legal right to sue the host country. If any measure to reduce the price of energy for consumers harms the company, it preserves the right to file lawsuit against the signatory countries.

If the verdict goes against the company, half of the legal expenses have to be shared by the host country, as per the energy charter, he added.

Contacted, Nasrul Hamid, state minister for energy, power and mineral resources, told The Daily Star, “We were supposed to sign the treaty a long time ago. As we are lagging behind for not doing so in due time, we are taking preparation to sign it.”