State-owned bodies earn Tk 3,022cr profit  

State-owned organisations have witnessed a net profit of Tk 3,022 crore in the first ten months of outgoing fiscal 2013-14, reports BSS.

Frequent investment from government and expansion of trade have helped them to boost profit overcoming the trend of losses in the last three consecutive fiscals, according to the Bangladesh Economic Review-2014. The review has also forecast the organisations would deposit Tk 1,017 crore to the national exchequer as the share of profit of the full fiscal year. In addition, during the fiscal, the rate of operational revenue growth of those organisations was 32.47 per cent.

ministryBangladesh Telecommunication Regulatory Commission (BTRC) has secured the top position in terms of profit which was mainly triggered by the auction of 3G airwave. The telecom regulator has registered a profit of Tk 9,398 crore in the period which was Tk 5,349 crore in fiscal 2012-13.

The Economic Review is based on analysis of the economic and financial statistics through differentiating the state-owned organisations into seven sectors following the definition of Bangladesh Standard Industrial Classification (BSIC).

The seven core sectors are Industries, Power, Energy and Water, Transport and Communication, Commerce, Agriculture, Construction and services.

However, the Economic Review also forecast that net profits and losses of different bodies would fluctuate whenever the data of full fiscal is calculated.

Bangladesh Oil, Gas and Mineral Resources Corporation has raised net profit of Tk 3,305 crore in fiscal 2013-14 from Tk 882 crore in previous fiscal while Dhaka WASA net profit of Tk 148 crore from 10 crore, Trading Corporation of Bangladesh (TCB) profit of Tk 14 crore overcoming the net losses of Tk 38 crore and National Housing Authority witnessed net profit of Tk 134 crore against Tk 116 crore in fiscal 2012-13.

Different wings of Power, Energy and Mineral Resources, however, are maintaining the trend of losses, but they have narrowed the gap making growth of income. Bangladesh Power Development Board (PDB) has registered loss of Tk 7,092 crore in the revised fiscal 2013-14.

Bangladesh Petroleum Corporation (BPC) has narrowed the gap of losses as the net loss stands at Tk  2,489 crore as compared to Tk 4,833 crore of the previous fiscal while Rural Electrification Board (REB) has registered big losses. The REB witnessed net loss of Tk  310 crore in fiscal 2013-14 which was Tk 23 crore in fiscal 2012- 13.

The Economic Review-2014 said the organisations after the revised calculation would deposit the share of profit Tk 1,017 crore to the national exchequer.

Among the organisations, Bangladesh Oil, Gas and Mineral Resources Corporation would contribute to the national exchequer Tk 800 crore, Chittagong Port Authority Tk 50 crore, Civil Aviation Authority Tk 50 crore, BEPZA Tk 25 crore, Bangladesh Shipping Corporation Tk 13 crore, Rural Electrification Board Tk 10 crore and RAJUK Tk 7 crore.