Bangladesh Power Development Board (BPDB) has recorded the highest losses in the current financial year among state-owned companies. The net loss of the company till last April was Tk 6 thousand 118 crores.
BPDB's losses were higher in the last financial year. The net loss in that financial year was more than Tk 11 thousand 163 crores. However, due to increase in electricity prices, the amount of losses has reduced.
Earlier, the company made a net profit of Tk 145 crore in FY 2020-21. The Finance Department of the Ministry of Finance has recently released the Bangladesh Economic Survey. It has given a provisional account of the profit and loss of 49 state-owned companies in the current fiscal year 2023-24 till April 21. This information was known from sources related to the Ministry of Finance.
According to the relevant sources, the economic survey has analyzed the data of 49 state-owned companies under the non-financial category of state-owned companies divided into seven sectors. It was seen that till last April 21, all the state-owned companies combined profit and loss totaled a net loss of Tk 6 thousand 41 crores. And in the last fiscal year 2023-24 overall net profit was Tk 109 crores. Profits were higher in previous fiscal years. Bangladesh Petroleum Corporation (BPC) is leading in terms of profit. The net profit of the company stands at Tk 4 thousand 875 crores.
According to sources, Trading Corporation of Bangladesh (TCB) has the second position in net loss among state-owned companies. The net loss of the company is Tk 6 thousand 33 crores. This is higher than last fiscal year. In that financial year it was Tk 1 thousand 139 crores. Earlier in the financial year 2021-22, the net profit of the company was more than Tk 854 crore. In view of the recent rise in the prices of various essential products, the supply of products at subsidized prices through TCB has been increased. Because of this, the loss of the company increased. Because TCB does not trade, TCB buys products and sells them to the general public at subsidized prices set by the government. People benefit from it. This subsidy is shown as loss. It's not really a loss.
Besides, Bangladesh Rural Electrification Board (BEREB), another organization in the power sector, is in the third position among the state-owned enterprises in terms of net losses. The net loss of the company till April of the current financial year is about Tk 4 thousand 499 crore. Bangladesh Chemical Industries Corporation (BCIC) is in the fourth position in losses. In the current financial year till April, the company's net loss is a little over Tk 1 thousand 500 crore. Bangladesh Sugar and Food Industry Corporation (BSFIC) is in the fifth position. The net loss of the company is Tk 571 crore.
Sources also said that Bangladesh Bridge Authority (BBA) is in the second position after BPC in terms of profit. The bridge authority has made a net profit of Tk 3 thousand 163 crore so far in the current financial year. Chattogram Port Authority (CPA), which is ranked third, has a net profit of Tk 1,881 crore. Civil Aviation Authority (CAA) is in fourth position. The net profit of the company is Tk 782 crores. Land Port Authority, which is next, has a net profit of Tk 547 crore.
Meanwhile, in relation to BPDB being the top in net loss and BPC in profit, energy and power expert Prof. Dr. M. Tamim said that despite increasing the price of electricity several times, the selling price is still lower than the cost of production. This is the reason for the loss of the Electricity Development Board. On the other hand, BPC is making profits in fuel oil, which has affected their net income.
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