BGFCL earns Tk 1.29b profit last fiscal
Wednesday, 5 November 2008
Our Correspondent
BRAHMANBARIA, Nov 4: The 53rd annual general meeting (AGM) of Bangladesh Gas Fields Company Limited (BGFCL), a subsidiary company of Petrobangla, was held on October 30, 2008 in Dhaka under the chairmanship of Mr. Kazi M. Aminul Islam, chairman of BGFCL board & secretary, Chief Adviser's office. Mr. Jalal Uddin Ahmed, chairman of Petrobangla, shareholders and members of the board of directors of the company were present in the meeting.
The audited balance-sheet of 2007-2008 financial year revealed that the company earned Tk 16.22 billion from sales of gas and petroleum products. After deduction of total revenue expenditure including SD and VAT amounting to Tk 14.93 billion, the company earned a profit of Tk 1.29 billion before tax.
The company paid Tk 15.11 billion to the public exchequer during this financial year. A dividend of 13.74 per cent was declared for the last financial year (2007-2008).
At present the company is producing about 43 per cent of the total gas demand of the country and thus playing a significant role in strengthening the country's economy.
Mr. Jahangir Kabir, managing director (MD) of BGFCL, informed the shareholders that the company had undertaken drilling of five wells under its self-financing projects. On successful completion of these projects, it is expected that the production capacity will increase considerably and enable the company to meet up the increasing gas demand of the country.
The chairman of the board has given emphasis on working capabilities of the employees at all levels, rationalising the operating cost and increasing the productivity.
BRAHMANBARIA, Nov 4: The 53rd annual general meeting (AGM) of Bangladesh Gas Fields Company Limited (BGFCL), a subsidiary company of Petrobangla, was held on October 30, 2008 in Dhaka under the chairmanship of Mr. Kazi M. Aminul Islam, chairman of BGFCL board & secretary, Chief Adviser's office. Mr. Jalal Uddin Ahmed, chairman of Petrobangla, shareholders and members of the board of directors of the company were present in the meeting.
The audited balance-sheet of 2007-2008 financial year revealed that the company earned Tk 16.22 billion from sales of gas and petroleum products. After deduction of total revenue expenditure including SD and VAT amounting to Tk 14.93 billion, the company earned a profit of Tk 1.29 billion before tax.
The company paid Tk 15.11 billion to the public exchequer during this financial year. A dividend of 13.74 per cent was declared for the last financial year (2007-2008).
At present the company is producing about 43 per cent of the total gas demand of the country and thus playing a significant role in strengthening the country's economy.
Mr. Jahangir Kabir, managing director (MD) of BGFCL, informed the shareholders that the company had undertaken drilling of five wells under its self-financing projects. On successful completion of these projects, it is expected that the production capacity will increase considerably and enable the company to meet up the increasing gas demand of the country.
The chairman of the board has given emphasis on working capabilities of the employees at all levels, rationalising the operating cost and increasing the productivity.