Bangabandhu Satellite-01 is a white elephant of the country as it is one of the economically unfeasible schemes executed by the Sheikh Hasina government, according to insiders.
Most of the bands of the satellite remained unutilised and revenue earnings were so poor compared to a staggering investment, they said on Wednesday.
The last government spent Tk 19.51 billion ($248 million) on sending the satellite into space in 2018. It carries 40 Ku- and C-band transponders with a capacity of 1,600 megahertz and a predicted lifespan of 15 years up to 2033.
Although significant space under the "C-band" transponders of the satellite is utilised by local TV channels and other home organisations, almost all the transponders (26) or space of the "Ku-band" are unutilised.
According to the Bangladesh Satellite Company Limited (BSCL), some 59 per cent of C-band has been sold out, while only 25 per cent of Ku-band has been leased out to different local and foreign companies.
When asked, a telecom ministry official told the FE that Bangladesh needed an earth observatory satellite for the cause of its security and sovereignty.
But the Hasina government splashed money on building a communications satellite, which was unviable both financially and economically, he added. "Every year, the government fails to earn expected revenue from it."
Another official also expressed an identical note of pessimism, saying potential foreign customers were absent.
"Although we have coverage on some 14 Asian countries, including India, Sri Lanka, Indonesia and the Philippines, which are home to 33 per cent of the global population, but we have failed to sell our space to potential foreign companies or to their public agencies."
According to ministry officials, the BSCL earned an estimated Tk 1.70 billion in fiscal year (FY) 2023 from the satellite. On the other hand, the company spent Tk 606.02 million on its operation.
The BSCL earned Tk 12.48 million in FY2019, Tk 1.08 billion revenue in FY2020, Tk 1.46 billion in FY2021, Tk 1.49 billion in FY2022 and Tk 1.71 billion in FY2023.
Zunaid Ahmed Palak, now behind bars, during his tenure as a state minister said the government would dedicate half of the 40 transponders to local TV stations and the rest be deployed to service the channels from other countries.
At present, Bangladesh spends $14 million a year on renting foreign satellites.
The government hoped to earn Tk 2.5-3.0 billion annually from the satellite and start making profits in six to seven years.
Bangladesh entered the elite space club of 57 nations with the launch of its first geostationary communications satellite into orbit by US space transport company SpaceX in the early hours of May 2018.
Among the active satellites orbiting the earth now, 1,616 satellites belong to the United States, 298 to China, 88 to India, 68 to France, 42 to Britain, 23 to Spain, 14 to Turkey, 13 to Saudi Arabia and three to Pakistan.
© 2024 - All Rights with The Financial Express
