Accumulated liabilities of BSC now Tk 2.15b

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FE Report
The accumulated liabilities of Bangladesh Shipping Corporation (BSC) over the last 36 years have reached Tk 2.15 billion (Tk. 214.91 crore).
According to sources in the Ministry of Shipping, a statement of assets and liabilities of the state-owned shipping lines has already been prepared by a chartered accountants firm named SF Ahmed and Co in a bid to pave the way for turning the Corporation into a profitable national enterprise.
Sources said, the BSC was established on February 5 in 1972 with a view to providing quality shipping services to its clients at home and abroad.
After formation of the BSC, it began functioning by taking over the assets and liabilities of the erstwhile National Shipping Corporation which was established in 1963 within the territory now constituting Bangladesh.
Despite untiring efforts to make the national flag carrier a modern and profitable shipping line by enabling it compete in the global shipping business, the Corporation incurred huge financial losses almost every year.
Sources said, one of the main causes of incurring financial losses by the BSC is that all of its 13 ocean-going vessels are decades-old. Maintenance expenditure for these vessels is on the rise day by day.
Of the vessels of BSC fleet, Banglar Kollol, Banglar Momota and Banglar Maya are 28 years old, Banglar Robi 27 years old, Banglar Gourab and Banglar Moni 25 years old, Banglar Urmee 25 years old, Banglar Shourav and Banglar Joti 21 years old, Banglar Kakoli and Banglar Doot 20 years old, Banglar Mookh 19 years old and Banglar Shikha is 17 years old.
However, the amount of its fixed assets, including land, building, fleet vessels and motor vehicles, is Tk. 6.79 billion (Tk. 678.73 crore.). Its current assets, including cash and bank balances, advance and deposits, amount to Tk. 2.63 billion (Tk.263 crore.)