DESCO's net loss shrinks to make a turnaround

The net loss of Dhaka Electric Supply Company (DESCO) has shrink in the third quarter of this year (2024-25) to Tk 78.55 crore compared to Tk 270.82 crore in the third quarter of last year (2023-24) Insiders attribute this progress to well planning and good guide lines of the Ministry of Power and honest performance of the officials concerned.  

In the last financial year i.e. 2023-24, the operating loss was Tk 181.12 crore, this year the profit was Tk 110.52 crore.  If this trend continues, DESCO will turn around in a very short time. 

DESCO's unaudited 3rd Quarter Financial Statements for the financial year 2024-25, presented and approved by 502nd Board Meeting held at DESCO's SCADA Center in Mirpur on Saturday made the disclosure, says a press release. 

Chief Executive Officer (Secretary) PPPA and Chairman of DESCO Board Muhammad Rafiqul Islam presided over the meeting. Managing Director of DESCO, Brigadier General Shamim Ahmed (Retd) was present at the time.

At the board meeting Chairman Muhammad Rafiqul Islam and all board members praised the outcome and the officers and employees of DESCO.

The meeting was attended by Additional Secretary of the Power Department and Director, DESCO Board Md. Sabur Hossain, A. H. M Ziaul Haque, Additional Secretary (Retd.) and Director, DESCO Board, Engineer Abdullah Noman, Director, DESCO Board, Anjana Khan Majlish.

Member (Finance), Bangladesh Power Development Board and Director, DESCO Board, Muhammad Hasnat Morshed Bhuiyan, Director, DESCO Board, Lutfe Maula Ayub, Chairman, Fountain Garments Manufacturing Ltd and Independent Director, DESCO Board, Farzana Chowdhury, Managing Director and CEO Green Delta Insurance PLC and Independent Director, DESCO Board, Farzana Sharmin (Putul), Director, DESCO Board, Advocate, Bangladesh Supreme Court and Independent Director, DESCO Board were also present.