SoEs tumble from profit to loss
Khawaza Main Uddin
The net loss of the state-owned enterprises in the 2009-2010 fiscal year has been projected at Tk 129 crore, a turn-around from the previous year's net profit estimated at Tk 3,283 crore, according to the Bangladesh Economic Review 2010.
The government has provided subsidies and grants amounting to Tk 1,226 crore to the SoEs this fiscal year, up from the Tk 961 crore given to them the year before.
The overall loss made by the public entities has been attributed to the rising amount of loss incurred by the Power Development Board and the Bangladesh Petroleum Corporation, and the decrease of the profit made by some other organisations.
Also, the net working capital of 44 enterprises came down to Tk 39,547 crore in FY 2008-09 from Tk 44,339 crore in FY 2005-06, according to the annual economic update.
However, the value addition by these entities increased to Tk 8,405 crore in FY 2008-09 from Tk 7,612 crore in FY 2007-08.
The loss made by the Power Development Board increased to Tk 1,428 crore in FY 2009-2010 from Tk 828 crore the year before.
The Bangladesh Petroleum Corporation's loss this year has been estimated at Tk 1,935 crore, much higher than the loss of Tk 322 crore the previous fiscal year.
The loss incurred by the Bangladesh Jute Mills Corporation, on the contrary, decreased to Tk 90.5 crore in FY 2009-2010 from Tk 299 crore in FY 2008-09, according to the economic review.
Moreover, the Dhaka Water Supply Authority's profit soared to Tk 86.6 crore this year from only Tk 1.47 crore in 2008-09.
The Bangladesh Telecommunications Regulatory Commission's net profit declined to Tk 2,074 crore from Tk 3,159 crore, the Bangladesh Oil, Gas and Mineral Resources Corporation's (Petobangla's) profit to Tk 912 crore from Tk 1,365 crore, the Chittagong Development Authority's profit to Tk 70 crore from Tk 163 crore, the Khulna Development Authority's profit to Tk 8 crore from Tk 9 crore.
The loss made by the Bangladesh Small and Cottage Industries Corporation increased to Tk 18.7 crore from Tk 3 crore.
http://www.newagebd.com/2010/jun/12/front.html
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