BTCL makes profit after 15 years of losses

The Bangladesh Telecommunication Company Limited (BTCL) has overcome 15 years of continuous losses and turned around as a profitable company in the financial year 2021-22.

In the financial year 2007-08, BTCL's losses were around Tk350 crore. Before that it was about Tk500 crore. In the last financial year 2020-21, BTCL's loss was Tk47 crore. After overcoming this continuous loss, the company made a profit of Tk6 crore 72 lakh this year.

The information was conveyed to Posts and Telecommunications Minister Mustafa Jabbar after the annual general meeting held at the Telecommunications Building in Dhaka on Thursday. 

BTCL Board Chairman, Post and Telecommunication Secretary Md Khalilur Rahman and BTCL Managing Director Dr Md Rafiqul Matin and other board members were present at the event. 

"We have successfully done everything possible to bring BTCL to a competitive place, starting from adoption of new technologies," Posts and Telecommunications Minister Mustafa Jabbar said. 

He expressed hope that all government institutions under the Department of Posts and Telecommunications, including the Directorate of Posts, will turn around like BTCL.

"The work of government institutions is not only to do business but to serve the people. BTCL is both profit and service – this is unique," he said.

"Bangladesh has come a long way today under the dynamic leadership of Prime Minister Sheikh Hasina. Her investment-friendly policies resulted in the establishment of private investment in every sector. In the country today, an environment of competition has been created in every field including industrial trade," the minister added. 

The minister also said that government service institutions are playing an important role in fair competition.

"Public and private sectors will coexist and survive through competition," he said

BTCL Board expressed deep gratitude to all concerned including the chairman, managing director and members for the achievement.