The government subsidy on state-owned enterprises (SoEs) in the first 10 months of the outgoing fiscal year (FY), 2013-14, has crossed the level of allocation for the FY '13, official data has showed.
According to the Economic Review-2014, a total of Tk 14.57 billion was given as subsidy to various SoEs until April last of the outgoing fiscal against Tk 14.55 billion spent as subsidy in the FY 2012-2013.
The highest amount of subsidy has been provided to Bangladesh Water Development Board (BWDB), which received more than Tk 7.10 billion in the first 10 months of the
outgoing fiscal against Tk 6.78 billion in the previous FY.
Bangladesh Agriculture Development Corporation (BADC) secured the second highest state subsidy receiving entity with Tk 2.16 billion followed by Bangladesh Inland Water Transportation Authority (BIWTA) with Tk 1.78 billion, Bangladesh Freedom Fighters Welfare Trust with Tk 1.20 billion, Bangladesh Jute Mills Corporation (BJMC) with Tk 0.96 billion and Bangladesh Small & Cottage Industries Corporation (BSCIC) with Tk 0.80 billion.
The government normally provides subsidy or financial support to the state entities, which witness any gap between earnings and expenditures.
The SoEs, however, registered a net profit of Tk 30.22 billion in the outgoing FY, although some of them have continued to make losses.
Of the profit-making state entities, Bangladesh Telecommunication Regulatory Commission (BTRC) witnessed a massive leap in profits, which reached Tk 93.98 billion against Tk 53.49 billion registered in the FY 2012-2013.
Bangladesh Oil Gas Minerals Corporation (BOGMC) gained net profit worth Tk 33.05 billion, followed by Dhaka WASA (Tk 1.49 billion), National Housing Authority (Tk 1.35 billion) and Trading Corporation of Bangladesh (TCB) with Tk 0.15 billion against a loss of Tk 0.38 billion witnessed in the previous FY.
Bangladesh Petroleum Corporation (BPC) and Bangladesh Power Development Board (BPDB) were the entities which incurred financial losses to the tune of Tk 24.90 billion and Tk 3.10 billion respectively.
Some Tk 10.17 billion has been estimated to be deposited with the government exchequer in the outgoing fiscal. Of the amount, BOGMC is expected to deposit Tk 8.0 billion, followed by Chittagong Port Authority (CPA) with Tk 0.75 billion, Civil Aviation Authority of Bangladesh (CAAB) with Tk 0.50 billion and Bangladesh Export Processing Zones Authority (BEPZA) with Tk 0.25 billion and Bangladesh Shipping Corporation with Tk 0.14 billion.
