DPDC starts today, BTCL tomorrow
FE Report | Monday, 30 June 2008
Newly created state-owned public limited company (PLC) Dhaka Power Distribution Company (DPDC) starts its journey today (Monday), while another PLC -- Bangladesh Telecom Company Ltd (BTCL) starts its journey from tomorrow.
DPDC takes over entre operations right of Dhaka Electric Supply Authority (DESA), while the state-run landline telephone operator Bangladesh Telegraph and Telephone Board (BTTB) starts its journey as a PLC under a new name BTCL.
"We will make a formal announcement today (Monday) through a press conference," said an official of the BTCL.
DPDC as a public limited company will embark upon its journey from July 1 as per the decision of the caretaker government, while DESA, an 18-year-old power-distribution outfit for the capital, will be dissolved under the process.
Members of the BTCL board of directors held its first meeting Sunday with its chairman Telecommunication Secretary Iqbal Mahmood in the chair. Other members of the board are three joint secretaries from finance, information and telecommunication ministries, a Brigadier General from the Bangladesh Army, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), President of the Institute of Chartered Accountants, Bangladesh, and noted writer and scientist Dr Zafar Iqbal. Incumbent BTTB chairman Ashraful Alim is the managing director of BTCL and also a board member.
The meeting discussed ways and means for transferring the assets of BTTB to BTCL. An official close to the board said the meeting expressed its optimism that BTCL would follow all corporate business principles to compete with the existing and upcoming private landphone operators.
"The challenge is not only to retain our existing customers, but also to raise the numbers," the official said. The BTTB's estimated asset is worth Tk150 billion, he said.
The services of the BTTB employees will be transferred to the new company. However, they will be given an option to retire. About 12,000 people are currently employed by the board.
The meeting of the newly-formed Bangladesh Submarine Cable Company Ltd (BSCCL) was also held on the day. The submarine cable company has been valued at Tk 10 billion.
Meanwhile, official sources said the Power Division of the Power and Energy Ministry Sunday issued an official order to the member (technical) of DESA to transfer entire operations to the DPDC director (technical).
DPDC would work as the responsible organisation for electricity distribution in the areas where DESA is now operating.
The DPDC's emergence from July 1 as a newcomer in the power sector was approved by the caretaker government on June 15.
The DPDC has already appointed 499 officers and 1870 employees to man it. However, 80 per cent of the officers and staff members were appointed from DESA through fresh appointment.
DPDC Managing Director Ataul Masud said the government has approved an organogram with 2,896 manpower for the organisation against DESA's 3,063 staff.
However, the DPDC will initially not take over the liabilities of DESA, which will be no less than Tk 80 billion (8,000 crore).
A committee is now working to determine the assets and liabilities of the outgoing DESA. On completion of the task, the government will decide the liability issue.
DPDC takes over entre operations right of Dhaka Electric Supply Authority (DESA), while the state-run landline telephone operator Bangladesh Telegraph and Telephone Board (BTTB) starts its journey as a PLC under a new name BTCL.
"We will make a formal announcement today (Monday) through a press conference," said an official of the BTCL.
DPDC as a public limited company will embark upon its journey from July 1 as per the decision of the caretaker government, while DESA, an 18-year-old power-distribution outfit for the capital, will be dissolved under the process.
Members of the BTCL board of directors held its first meeting Sunday with its chairman Telecommunication Secretary Iqbal Mahmood in the chair. Other members of the board are three joint secretaries from finance, information and telecommunication ministries, a Brigadier General from the Bangladesh Army, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), President of the Institute of Chartered Accountants, Bangladesh, and noted writer and scientist Dr Zafar Iqbal. Incumbent BTTB chairman Ashraful Alim is the managing director of BTCL and also a board member.
The meeting discussed ways and means for transferring the assets of BTTB to BTCL. An official close to the board said the meeting expressed its optimism that BTCL would follow all corporate business principles to compete with the existing and upcoming private landphone operators.
"The challenge is not only to retain our existing customers, but also to raise the numbers," the official said. The BTTB's estimated asset is worth Tk150 billion, he said.
The services of the BTTB employees will be transferred to the new company. However, they will be given an option to retire. About 12,000 people are currently employed by the board.
The meeting of the newly-formed Bangladesh Submarine Cable Company Ltd (BSCCL) was also held on the day. The submarine cable company has been valued at Tk 10 billion.
Meanwhile, official sources said the Power Division of the Power and Energy Ministry Sunday issued an official order to the member (technical) of DESA to transfer entire operations to the DPDC director (technical).
DPDC would work as the responsible organisation for electricity distribution in the areas where DESA is now operating.
The DPDC's emergence from July 1 as a newcomer in the power sector was approved by the caretaker government on June 15.
The DPDC has already appointed 499 officers and 1870 employees to man it. However, 80 per cent of the officers and staff members were appointed from DESA through fresh appointment.
DPDC Managing Director Ataul Masud said the government has approved an organogram with 2,896 manpower for the organisation against DESA's 3,063 staff.
However, the DPDC will initially not take over the liabilities of DESA, which will be no less than Tk 80 billion (8,000 crore).
A committee is now working to determine the assets and liabilities of the outgoing DESA. On completion of the task, the government will decide the liability issue.