Staff Reporter :
The Bangladesh Petroleum Corporation (BPC) has said it cannot bear more losses alone as it incurred a loss of Tk 5,910.69 crore in the 2021-22 fiscal year.
The company was in profit from FY2014-15 to FY2020-21, but the fuel prices increased in the global market pushed the BPC toward losses.
“Almost all the fixed deposits have to be en-cashed to meet the import expenses,” BPC Chairman ABM Azad said while briefing to reporters during a press conference in BPC office on Wednesday.
He also presented year-wise data on the BPC’s earnings and expenditure.
Between FY2014-15 and FY2020-21, BPC made a profit of Tk42,992.51 crore and spent Tk20,188.71 in expenses. Despite having a
reserve of Tk22,803.80 crores, the global fuel price hike pushed the company into losses, according to data provided by the BPC.
The petroleum company incurred a loss of Tk53,005.16 between FY1999-2000 and FY2013-14 due to disparity in the import price and selling prices.
BPC usually keeps a reserve equivalent to fuel supply for two months. However, while trying to ensure a continuous supply of fuel despite the price hike the company had to dig into their reserves as well.
