BPC recovers Tk 7,500 crore arrears

Rahul Sarker Palash, Ctg

Bangladesh Petroleum Corporation (BPC) has recovered Tk 7,500 crore arrears from BPC owned organs in the recent months.  At the same time, the company has increased its revenue earning to about Tk 1,000 crore during last one year.

It is learnt, after Joining, Md. Shamsur Rahman, Chairman of BPC, took strict measure to realise arrears of the company and brought discipline in the management of the organisation which helped him to recover the huge amount of arrears of  the previous years.

BPC sources informed, the government is implementing various projects amounting Tk 42,000 crore to ensure energy security by providing fuel through three companies (Padma, Meghna and Jamuna) at a fixed price throughout the country.

The projects include Eastern Refinery Ltd (ERL) in Patenga which refines crude oil imported through pipeline from the Mother Vessel (large ship) from the outer sea of Kutubdia.

Transportation of the fuel involves Single Point Moringa (SPM) Project, Dhaka-Chittagong Pipeline Project, Jet-A-1 Pipeline Project upto Kurmitola-Kanchan Bridge Rupganj, Eastern Refinery Ltd (ERL) 2nd Unit Project and India-Bangladesh Friendly Pipe Line.  

Sources further informed initiatives have been taken for automation of all depots and operational activities of BPC in the country, including major installations in Chittagong through modernization of fuel oil measurement and supply system. 

In addition, with the firms’ strong action, BPC's long outstanding arrears from various marketing companies (Padma, Meghna, Jamuna and SAOCL)were recovered in February 2019. Significant progress has also been made in the long pending payment of dues to the aircraft, authorities said. BPC has also undertaken payment automation systems to recover the fuel price.

It is learnt, currently around 4,500 officers and employees are working with the BPC and  5,000 more manpower are engaged with its subsidiary organisations. To meet the ever increasing demand for fuel in the country, a modern training centre was  opened in September 26 in Jaipahar state, Jamal Khan in the city of BPC  to improve their skills. In addition, BPC authorities are engaging its officials to monitor duties of the officials to ensure greater transparency and accountability in all work, including the release of imported fuel vessels, transportation, tanks and receivers.

BSTI's local officials, however, were monitoring the activities of dealers to prevent adulteration of fuel, to prove accurate measurement countrywide. 

The stakeholders of BPC are hopeful that the current activities will play a significant role in ensuring energy security.

The 40-year old company currently has no office buildings in Chittagong and in Dhaka. To resolve the problem, an initiative has been taken to construct its own buildings in Jaipahar state, Jamal Khan, Chattogram and in Dhaka.