The government is framing strategies to make the state-run losing organisations profitable ones.
The government has already taken initiatives to close down 25 state-owned jute mills running at a constant loss and shift them to the private sector.
Meanwhile, Bangladesh Sugar and Food Industries Corporation (BSFIC) has stopped activities in six government owned sugar mills to reduce the burden of losses the mills have incurred.
In the last financial year, the total loss of 36 government organisations stood at Tk 4,000 crore. But, at least 75 government-owned companies made a profit of Tk 15,000 crore in the same period.
Former lead economist of the World Bank Dhaka office Dr. Zahid Hossain told the media, "In a sector where similar private companies are making huge profits, government institutions are incurring huge losses. It cannot go on like this. The decision to close Adamjee Jute Mill was right which is now proven. Jute mills have been closed recently. We have to take action against other loss-making organizations as well. To bring them into a profitable position, the authorities concerned either can schedule a time frame or take new plan”.
As per the list of the Finance Ministry, Shahjalal Fertilizer has incurred a loss of Tk 264 crore. The loss of Chittagong Urea Fertilizer is Tk 146 crore. Besides, Jamuna Fertilizer incurred a loss of Tk 62 crore, Ashuganj Fertilizer and Chemical Company lost Tk 72 crore, Polash Urea Fertilizer Factory lost Tk 6 crore and Urea Fertilizer Factory lost Tk 174 crore.
On the other hand, the private cement factories are in a profitable position, state-owned cement factory Chhatak Cement Company has incurred a loss of Tk 40 crore in the last financial year.
Several other government-owned companies are incurring loss. Of these, Bangladesh Insulator and Sanitaryware Factory lost Tk 19 crore, Usmania Glass Sheet Factory Tk 11 crore, Atlas Bangladesh Tk 3 crore, Eastern Cables Tk 13 crore, Eastern Tubes Tk 4 crore, Karnaphuli Paper Mills Tk 20 crore, Bangladesh Blade Factory Tk 4 crore and Dhaka Steel Works Tk 23 lakh.
The recent cabinet meeting examined the profit and loss of all government companies and agencies. According to the finance ministry, many state-owned enterprises have been making losses for years together. But 85 companies have made a profit of Tk 15,000 crore in the last fiscal.
Of these, four state-owned banks made a profit of Tk 4,263 crore in the last financial year. Sonali Bank alone has earned a profit of Tk 2,206 crore. Agrani Bank Tk 1,163 crore while Rupali Bank has made a profit of Tk 248 crore.
State-owned petroleum and power companies have made profits as usual. Bangladesh Petroleum Corporation is at the top with a profit of Tk 4,000 crore. Besides, Karnaphuli Gas Distribution Company Limited has earned a profit of Tk 46 crore, Eastern Refinery Limited Tk 464 crore, Power Grid Company of Bangladesh (PGCB) Tk 383 crore, Ashuganj Power Station Company (ACCL) Tk 345 crore, and Sylhet Gas Fields Company Limited Tk 309 crore.
As always, Chittagong port has also made a profit of Tk 1238 crore. Besides, the Civil Aviation Authority has made a profit of Tk 310 crore.