BSC earns Tk225cr in FY22

The Bangladesh Shipping Corporation (BSC), the lone state-owned oceangoing vessels management authority, has earned a net profit of Tk 225.81 crore in 2021-22 fiscal year (FY22), a jump of Tk 155 crore than the previous fiscal.

The data was revealed at the 45th annual general meeting of the BSC on Sunday at the Chittagong Boat Club in Chattogram.

“Once moribund, the BSC has now become a profitable enterprise in the last 14 years under the leadership of Prime Minister Sheikh Hasina,” said Khalid Mahmud Chowdhury, state minister for shipping, while addressing the programme as its chief guest.

Khalid, who is also the chairman of the BSC Board of Directors, said the enterprise has become an established company in the share market.

“Last year we issued a 12 per cent dividend for shareholders. This year, we are increasing that to 20 per cent,” he said.

He also said the parliament has passed the Bangladesh Flag Vessels (Protection of Interests) Act 2019, which will allow the BSC to get priority in sea transport of imported or exported goods with government funds.

The government is focusing on improving the BSC in recent years.

“A plan has been adopted to procure 21 ships. Six new ships have already been added to BSC’s fleet. A number of other new vessels are in the process of being procured,” Khalid said, adding that BSC aims to play an important role in the global shipping business, not only in the country.

The BSC was established in 1972 by Bangabandhu Sheikh Mujibur Rahman, with an aim to provide safe and efficient shipping services on international waterways and transporting the bulk of Bangladesh’s import and export products through its own fleet. Under the direction of Bangabandhu, 26 ocean-going vessels were added to the corporation’s fleet by 1974. 

Khalid said the BSC plans to play a key role in establishing a sustainable blue economy for Bangladesh, using the opportunities brought by the government.

The government is developing ports, marine academies which will help make the country’s economy more dynamic.

The shipping secretary said Bangladesh’s economy is no longer interdependent. It has become a self-reliant one.

He said, “Earlier one had to approach foreigners for loans to build a one-kilometre road. Now we are implementing mega projects with our own funding.

“The range of communication by sea, road and air has increased

“Under the leadership of PM Hasina, Bangladesh has established its rights in the Bay of Bengal. The Ministry of Shipping will contribute to the economy by using this opportunity properly.”