In 2024-25, state-owned enterprises are set to lose around Tk 28000 crore up from outgoing fiscals Tk 6,000 crore.
According to the Finance Department, the target of total income (operating revenue and non-operating revenue) of 49 state-owned enterprises in textiles, jute, steel, agriculture, fisheries, transport, energy, power supply has been estimated in the budget of the next fiscal at Tk 4, 01, 689 crore.
The expenditures (operating expenses and non-operating expenses) of these enterprises has been estimated at Tk 4, 29, 736 crore.
In the new financial year, state-owned enterprises are set to lose Tk 28, 047 crore.
According to sources, these state-owned enterprises had set the target of earning Tk 3, 69, 800 crore in FY 2023-24 (operating revenue and non-operating income).
The revised expenditure target was set at Tk 3, 75, 790 crore.
State-owned enterprises losses in the outgoing financial year has been estimated at Tk 5, 989 crore.
And the losses will increase by more than 5 times in the next financial year.
Recently, Industry Minister Nurul Majid Mahmud Humayun told parliament that 28 government-owned industries are running at a loss.
They include - four enterprises of Bangladesh Steel and Engineering Corporation (BSEC), 15 of Bangladesh Sugar and Food Industries Corporation (BSFIC) and 9 of Bangladesh Chemical Industries Corporation (BCIC).
Humayun said in parliament, Atlas Bangladesh Limited, Tongi, Gazipur, Bangladesh Blade Factory Limited and National Tubes Limited and Eastern Tubes Limited, Tejgaon, Dhaka under BSEC are running at losses.
Out of 16 enterprises of BSFIC, 15 are running at losses, said the minister.
The losing enterprises of BCIC include- Shahjalal Fertilizer Company Limited (SFCL), Ashuganj Fertilizer and Chemical Company Limited (AFCCL), Jamuna Fertilizer Company Limited (JFCL), Chittagong Urea Fertilizer Limited (CUFL), Ghorashal Palash Fertilizer PLC (GPFPLC), Chatak Cement Company Limited (CCCL), Karnaphuli Paper Mills Limited (KPML), Bangladesh Insulator and Sanitaryware Factory Limited (BISFL) and Osmania Glasssheet Factory Limited (UGSFL).
Economists said that they could not understand when private sector companies are making why state-owned enterprises were incurring losses for years though both are in similar businesses. In recent years, the losses of some of the state owned enterprises increased at abnormal rate. Economists blamed unbridled corruption, absence of proper policies and indifference of the authorities as well as inefficiency for the losses.
Economist Dr Qazi Kholikuzzaman Ahmad said that state owned enterprises incurred losses for years.
He called for review and changes in these enterprises.
Its high time to take action to improve the performance of state owned enterprises, he said.
Profit and loss is important for financial analysis of any enterprise, he said.
Sources in the Finance Departments monitoring cell said, assets and loans of state-owned enterprises in Bangladesh are headache of the government or state-owned commercial banks.
Therefore, the rate of profit on assets is an important criterion in analysing the financial condition of these enterprises.
They said that the total losses in 2024-25 has been estimated at Tk 28, 047 crore.
