Strengthen Bangladesh Shipping Corporation to bolster its footprint on global shipping routes and protect the country's maritime interests, the Chief Adviser instructs as BSC begins booking higher profits.
Professor Muhammad Yunus gave the direction Wednesday while receiving payments from the corporation, also calling for sustained profitability and long-term planning to expand the national fleet.
Speaking at the cheque-handover ceremony at the state-guesthouse Jamuna, the head of interim government said BSC "must capitalise on its recent financial turnaround and ensure that its own earnings are reinvested to make the corporation more resilient and competitive".
At the event, BSC handed over a cheque worth over Tk 2.03 billion to the government, covering loan instalments under the Subsidiary Loan Agreement for six ship-procurement projects as well as government share in dividends for the fiscal year 2024-25.
Professor Yunus said, "Expansion of BSC fleet would not only strengthen the corporation but also boost the morale of Bangladeshi seafarers and create new employment opportunities."
He also highlighted the importance of retaining qualified instructors at marine academies by ensuring fair remuneration for rearing world-class marine professionals.
Shipping Adviser M Sakhawat Hossain and BSC Managing Director Commodore Mahmudul Malek formally handed over the cheque to the Chief Adviser.
Commodore Mahmudul Malek said six vessels -- three product oil tankers and another three bulk carriers -- were procured under a government-to-government loan agreement signed with China in 2016. Under the subsequent Subsidiary Loan Agreement signed in October 2024, BSC will repay Tk 2,425.02 crore (over 24.25 billion) to the government over 13 years.
He noted that five of the six vessels were currently engaged in international trade carrying cargo across global routes by flying Bangladesh's national flag. Trade Fair Guide
The corporation posted its "highest-ever profit" in the last fiscal year, earning nearly Tk 8.0 billion in revenue and registering a net profit of Tk 3.06 billion-marking a milestone in its 54-year history.
Following the Chief Adviser's guidance, BSC has already taken steps to expand its fleet further, including the acquisition of new bulk carriers and oil tankers through both self-financing and government support.
The Chief Adviser reaffirmed that a strong, self-reliant and profitable BSC is essential for safeguarding Bangladesh's maritime interests and strengthening its presence in global shipping.
mirmostafiz@yahoo.com
