The cabinet on Monday approved a proposal for constituting of the Bangladesh Communication Satellite Company (BCSC) Limited to smoothly operate the country's first-ever Bangabandhu Satellite-1.
The approval came at the regular weekly cabinet meeting held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair, reports BSS.
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Briefing reporters after the meeting, Cabinet Secretary Mohammad Shafiul Alam said Post and Telecommunications Ministry placed the proposal for formation of the company following the suggestions of those who will locally operate the Bangabandhu Satellite-1.
[caption id="attachment_72379" align="aligncenter" width="800"]
Prime Minister Sheikh Hasina presides over a regular cabinet meeting took place at at Bangladesh
Secretariat on Monday, July 3, 2017 PID
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"The company will be formed with the authorised capital of Tk5,000cr and it will have Tk500cr-worth of shares," he said, adding the price of each share will be Tk10.
Alam said in the Memorandum of Article, a proposal has been made to form an 11-member committee for the company, and all of its members will be government employees.
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He said the post and telecommunications secretary and the managing director of the BCSC Ltd will act as the chairman and the member secretary of the company respectively.
The other directors of the company will be the additional secretary of the of Post and Telecommunications Ministry, representatives of the ministries of Finance, Information and Defence and a representative of the Armed Forces Division, the chairman of Bangladesh Space Research and Remote Sensing Organisation, the director general of Bangladesh Telecommunications Company Ltd and two other persons to be nominated by the government, Alam said.