The 47th Annual General Meeting (AGM) of Eastern Refinery Limited (ERL), the country's only state-owned fuel oil refinery, a subsidiary of Bangladesh Petroleum Corporation (BPC) was held at the company's Patenga office on Friday.
The AGM was presided over by ERL Board of Directors and BPC Chairman Chairman ABM Azad NDC. The meeting approved the audited accounts for the financial year 2022-23.
In spite of the ongoing economic downturn in the wake of the global energy crisis, the nearly 56-year-old company as the country's only fuel oil refinery earned a net profit after tax of Tk 35.34 crore in the financial year 2022-23 by continuing the production process uninterruptedly and contributing Tk 30.77 crore to the state exchequer.
It has contributed significantly to the economic growth of the country which is the highest in the history of the institution. As against the refining target of 14.00 lakh metric tonnes, the actual refining has been 14.43 lakhmetric tonnes which is 103.00 percent of the refining target and 96.20 percent of the refinery capacity of 15.00 lakh metric tonnes.
The management authorities and all levels of officers and employees were highly appreciated for continuing the company's profit making process and the overall activities were carried out with great efficiency, dedication and integrity.