Bakhrabad Gas earns Tk 423.30m profit in 2010-11 fiscal

FE Report Bakhrabad Gas Distribution Company Limited (BGDCL), a concern of the Petrobangla, earned profit worth Tk 423.30 million by collecting Tk 3.90 billion as revenue, against the sale of 657.35 million cubic metres of gas in the fiscal year 2010-11, a BGDCL press release said. The company made the announcement at its 31st annual general meeting in Dhaka on December 7 last. Additional Secretary of the Energy and Mineral Recourses Division Abu Taher, also chairman of the BGDCL, presided over the meeting. The meeting was told that the total length of pipelines of the company during the fiscal year reached 3,554.48 kilometres while the number of connections stood at 190,596. The BGDCL sells natural gas in greater Noakhali, Comilla, Chandpur and Brahmanbaria districts. The company also paid Tk 412 million to the public exchequer in fiscal year 2010-11. In the meeting the shareholders were also informed that since giving of new connections including residential ones was suspended during the period, and a separate company named 'Karnafuli Gas Distribution Company Limited' was formed on July 1, 2010, the company's gas sale programme was reduced by 80 per cent. As a result, the revenue income of the company has declined. The BGDCL officials, however, expected that the company's revenue income would gradually increase from the next fiscal year since the gas selling activities in Brahmanbaria and Ashuganj areas had come under the jurisdiction of BGDCL in the current fiscal year (2011-12).