69 SOEs make profits, 19 suffer losses

A total of 69 state-owned enterprises (SOEs) made profits while 19 suffered losses in the last fiscal year. Cabinet Secretary Muhammad Musharraf Hossain Bhuiyan disclosed this while talking to reporters after a Cabinet meeting at the Secretariat Monday.
Annual reports on the performance of the ministries and divisions were presented before the meeting chaired by Prime Minister Sheikh Hasina, according to a news agency.
Bhuiyan said: “69 state-owned enterprises made profits in the 2013-14 FY. Number of profit-making enterprises has increased. During the same period, 19 public enterprises sustained losses.”
“Public enterprises sustain losses due to several reasons. Offering services is the main objective of these enterprises,” he explained.
The SOEs which attained profit include Bangladesh Petroleum Exploration and Production Co Ltd (BAPEX), Titas Gas Transmission Co Ltd, Meghna Petroleum, Jamuna Oil, Sonali Bank, Janata Bank, and Agrani Bank.
The loss-making enterprises include Bangladesh Petroleum Corporation and Dhaka Power Distribution Company.