Foreign investment could boost Ctg port profitability: Adviser Sakhawat

Speaking at 47th annual general meeting of BSC held at Chattogram Boat Club in Patenga on Sunday, he underscored the importance of transparency and strategic investments to enhance the port's operations.

During his address, Sakhawat highlighted that BSC had successfully repaid government loans amounting to Tk 500 crore to its shareholders and is now generating profits from its fleet of five ships. He added that plans are underway to purchase two additional vessels, pending inspection of their condition and age, as part of the corporation's self-financed expansion.
Commenting on integrity and governance, he reassured attendees, stating, “As long as I am in charge, there will be no tolerance for corruption. Even minor acts of bribery will be met with strict action.”

BSC Managing Director Commodore Mahmudul Malek provided an overview of the corporation's financial performance, revealing a net profit of Tk 249.69 crore for the 2023–24 fiscal year. The corporation earned Tk 596.19 crore in total revenue, with operating expenditures amounting to Tk 189.61 crore and administrative costs of Tk 121.98 crore. Compared to the previous fiscal year, net income saw a modest increase of Tk 3.40 crore. Shareholders were also informed about a proposed 25 percent cash dividend from the net profit.

As of June 30, BSC’s paid-up capital stood at Tk 152.53 crore, with the government holding a majority 52.10 percent stake, while private shareholders owned 47.90 percent. The corporation's total assets were valued at Tk 3,811.53 crore, with external debts amounting to Tk 2,256.16 crore.