• Tuesday, Aug 11, 2020
  • Last Update : 07:42 pm

14 state-run institutions persistently in the red

  • Published at 12:41 am June 11th, 2017
14 state-run institutions persistently in the red
Fourteen state-owned institutions are incurring losses and have been subsidised with Tk7,761.96cr till April 30, 2016, found an economic survey. Though the government has been trying to improve the state of the institutions, poor management, inefficient administration and political intervention are holding them back, said experts. Bangladesh Power Development Board (BPDB), on the top of the list, has lost Tk5,141.27cr in 2016. According to the Ministry of Finance, BPDB has been incurring losses for 11 consecutive years since 2006. The second top institution that has been incurring a loss is Bangladesh Rural Electrification Board (BREB). BREB lost a total of Tk975.3cr in the last fiscal year. Bangladesh Textile Mills Corporation (BTMC) and Bangladesh Road Transport Corporation (BRTC) have been incurring losses for 26 consecutive years since 1990. BTMC lost Tk30.87cr till April, 2016 while BRTC lost Tk86.90cr since 2006. Experts told the Bangla Tribune that the institutions could not make profit due to poor management, inefficient administration and political intervention. Dr AB Mirza Azizul Islam, an advisor of caretaker government, told Bangla Tribune: “The administration at these institutions is not honest. They lack efficiency and accountability. That is the reason for the losses.” “The institutions could perform better if the government hands them over to private owners instead of subsidising them consistently,” he added. Bangladesh Jute Mills Corporation (BJMC) lost a total of Tk530.89cr since the liberation of Bangladesh. Bangladesh Freedom Fighters’ Welfare Trust (BFFWT) and Bangladesh Film Development Corporation (BFDC) lost more than Tk34cr. Bangladesh Sugar and Food Industries Corporation (BSFIC) lost more than Tk30,000cr in the last 11 years. In 2016, it lost Tk440.42cr. Bangladesh Shipping Corporation (BSC) lost Tk27cr in 2016. Bangladesh Agricultural Development Corporation (BADC) has Tk5.48cr in losses. Bangladesh Inland Water Transport Authority (BIWTA) lost Tk14.72cr. Bangladesh Chemistry Industries Corporation (BCIC) lost more than Tk455cr. Rajshahi Development Authority (RDA) lost Tk17.44cr. According to the survey, Bangladesh has 45 state-owned institutions. Among them, nine are in the industrial and trade sector, five are in electricity, gas and water service, seven are in transportation and communication sector, two are in agriculture sector, five in construction sector and 17 in service sector.
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