Biman Bangladesh Airlines has finally agreed to pay Tk10-15 crore per month against its outstanding amount of Tk2,108 crore, accumulated from the purchase of jet fuel in 2011-18, to Padma Oil Company.
It will take Padma 140 to 210 months to collect the money owed to Biman, with the first installment to be available in June, according to Energy and Mineral Resources Division officials.
If Biman pays Tk10 crore per month, it will take at least 17 and a half years to pay back this amount. And if it pays Tk15 crore per month, it will take more than 11 and a half years. Padma Oil officials say it is better to get the money slowly than not at all.
Earlier, Biman had paid back Tk20 crore of the total dues and then started procrastinating on the remaining payments. At one point, the national carrier sought a full waiver, while explaining its incapacity to pay back the amount.
However, the national flag carrier was forced to agree on the repayment after a series of meetings and communications among the Energy Division, Finance Division, the Ministry of Civil Aviation and the Petroleum Corporation (BPC) since November last year.
The state-owned oil marketing company Padma supplies jet fuel to Biman. As the airliner stopped payment, Padma informed BPC and the Energy Division of the matter. When the matter was reported to the Civil Aviation Ministry by the Energy Division, Biman paid back Tk20 crore. It then stopped further payments.
On November 28, a letter was sent from the Energy Division to the Civil Aviation Ministry on collecting the outstanding amount. Finally, on February 16, Padma Oil sent a letter to Biman regarding the collection of dues.
On April 4, an inter-ministerial meeting was held with the Finance Division and related stakeholders on the issue under the chairmanship of the secretary of the division.
According to the decision reached at the meeting, the Civil Aviation Ministry was requested on April 17 to take the next necessary measures.
Padma Oil Managing Director Masudur Rahman said that Biman will start paying Tk10-15 crore from next month. He said that officials had been asked to keep in touch with Biman at all times.
