BSEC makes Tk 297.3m net profit in 2006-07
Monday, 23 July 2007
The state-run Bangladesh Steel and Engineering Corporation (BSEC) made a net profit of Tk 297.30 million in the last fiscal year (2006-07) compared to Tk 201 million in the previous fiscal, registering an increase of 48 per cent, following a turnaround in the sector.
The amount of the profit made by the corporation last year is the highest in last five fiscal years.
Industries Adviser to the caretaker government Geeteara Safia Chowdhury revealed the figure while addressing a press conference in the city Sunday, reports BSS.
"You will be happy to know the performance of BSEC in 2006-07 fiscal as it is good enough. The industries under the BSEC made a net profit of Tk 297.30 million in 2006-07 fiscal year, which is 48 per cent higher than that of 2005-06. Besides, BSEC paid Tk 1.66 billion to government exchequer as duty and tax that year," the adviser told the press briefing organised to apprise reporters of the activities and successes of the corporation in the just-concluded fiscal year.
Geeteara said public perception is that the state-run industries are losing concerns and these are the places of random corruption, malpractice and wastage.
"There are also exceptions. There are many state-run industries that have been profitable due to efficiency, time management, better working atmosphere, cost minimisation, right decision and dynamism. BSEC can be an example," she pointed out.
Saying that BSEC contributes hugely to the national economy, the adviser detailed the activities of the corporation that is under her ministry. She also claimed that the quality of BSEC products is improved and their goods have enough goodwill.
BSEC Chairman Abu Zafar apprised the newsmen of the activities of nine industries under his corporation.
They are Atlas Bangladesh, Progoti Industries, Chittagong Drydock, National Tubes, Eastern Cables, Gazi Wires, Eastern Tubes, Bangladesh Blade Factory and General Electric Manufacturing Com-pany.
He said that Atlas Bangladesh and Progoti Industries together made net profit of 247.70 million in 2006-07. They made profit of Tk 136.10 million and 111.60 million during the period respectively.
The corporation boss told the conference that two sister concerns - Bangladesh Blade Factory and General Electric Manufacturing Company - are incurring losses.
The amount of the profit made by the corporation last year is the highest in last five fiscal years.
Industries Adviser to the caretaker government Geeteara Safia Chowdhury revealed the figure while addressing a press conference in the city Sunday, reports BSS.
"You will be happy to know the performance of BSEC in 2006-07 fiscal as it is good enough. The industries under the BSEC made a net profit of Tk 297.30 million in 2006-07 fiscal year, which is 48 per cent higher than that of 2005-06. Besides, BSEC paid Tk 1.66 billion to government exchequer as duty and tax that year," the adviser told the press briefing organised to apprise reporters of the activities and successes of the corporation in the just-concluded fiscal year.
Geeteara said public perception is that the state-run industries are losing concerns and these are the places of random corruption, malpractice and wastage.
"There are also exceptions. There are many state-run industries that have been profitable due to efficiency, time management, better working atmosphere, cost minimisation, right decision and dynamism. BSEC can be an example," she pointed out.
Saying that BSEC contributes hugely to the national economy, the adviser detailed the activities of the corporation that is under her ministry. She also claimed that the quality of BSEC products is improved and their goods have enough goodwill.
BSEC Chairman Abu Zafar apprised the newsmen of the activities of nine industries under his corporation.
They are Atlas Bangladesh, Progoti Industries, Chittagong Drydock, National Tubes, Eastern Cables, Gazi Wires, Eastern Tubes, Bangladesh Blade Factory and General Electric Manufacturing Com-pany.
He said that Atlas Bangladesh and Progoti Industries together made net profit of 247.70 million in 2006-07. They made profit of Tk 136.10 million and 111.60 million during the period respectively.
The corporation boss told the conference that two sister concerns - Bangladesh Blade Factory and General Electric Manufacturing Company - are incurring losses.