ERL holds 42nd AGM

CHATTOGRAM, Apr.10: Eastern Refinery Limited (ERL), the lone oil refinery of the country, held its 42nd Annual General Meeting (AGM) recently.

The AGM of ERL was chaired by ERL Board Chairman and Chief Coordinator (SDG) of Prime Minister's Office Md Abul Kalam Azad.

The meeting approved the audited report of 2017-18 fiscal of the company. The ERL earned profit (before tax) of taka 13,1194 lac by selling 12.41,731 MT crude oil after refining it. The company also deposited taka 16,75.30 lac to the state coffer in last fiscal. The meeting also expressed satisfaction over the increased production and earned profit of the company.

Among others, Md Samsur Rahman, Chairman of Bangladesh Petroleum Corporation (BPC), Md Nazrul Islam, Additional Secretary of Finance Ministry, Md Wasir Jabbar, Director General of BPI, Directors of BPC Md Sarwar Alam, Altaf Hossain Chowdhury and Sayed Mehedi Hasan, Secretary of BPC Kazi Mohammed Hasan, Engineer Md Aktarul Haque, Managing Director of ERL and top officials and share holders were present at the AGM.

At the AGM, ERL board chairman expressed his gratitude to all for cooperation to run the company operations successfully.

ERL, a subsidiary of BPC was incorporated under Companies' Act 1913(amended in 1994) as a Public Limited Company in 1963 with 35% EPIDC's (East Pakistan Industrial Development Corporation) shares, 30% shares held by Burmah Oil Company (BOC) and the rest 35% by private entrepreneurs. From November, 1985, BPC became the 100% share holder of the company.

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