Economic Reporter :
Bangladesh Petroleum Corporation (BPC), the country’s sole energy and gas importing organisation plans to be automated in a serious bid to timely realize the prices of sold oil and gas.
BPC supplies oil and gas at the dealer level across the country under its marketing and distribution bodies like ‘Padma Oil Co. Ltd.’, ‘Meghna Petroleum Co. Ltd’, ‘Jamuna Oil Co. Ltd.’ And ‘Standard Asiatic Oil Co. Ltd.’
Although BPC itself finance to import oil and gas but the price goes to the marketing and distributing organisations and BPC has to wait for 6 months to 1 year time to get the money. Even BPC has to face hard adjust the outstanding bills in the market against the invoice.
BPC Chairman admits that it has been very cumbersome process to adjust accounts even after appointing Auditors.
Sources concerned said 1 litre of Disel is sold at Tk 62.52 at the dealer stage of which BPC to get 59.81 and companies to get only Tk 2.71 for distribution cost, but the total amount for selling price oil remain with marketing and distribution companies for moths together, whereas loss amount of BPC, that meets the import cost from the government exchequer, stands at Tk 800 crore a year.
Besides, BPC has to depend on distribution and marketing companies to get the calculation of storage and supply of oil.
On the said perspective, the BPC is going for digitalize all of the processes of recovery of oil and gas selling prices of the distribution companies immediately aiming to resolve the problems.
Sources also said under the automation process there will have opportunity to the deposit money of sold oil to the banks and with an special banking arrangement soon after deposit of the amount the due parts of BPC and distributing organisations will instantly be divided to their respective bank accounts.
Md. Shamsur Rahman, Chairman of BPC said primarily the collection process will run at all the branches of NRB Commercial Bank, National Bank and Islami Bank Bangladesh Limited and later gradually all the branches of commercial bank will be brought under its network.
He hoped that this automation process will contribute significantly in realizing the money of sold oil of BPC. It will also help to get a proper picture of supply and storage of oil and gas of the country.
Bangladesh Petroleum Corporation (BPC), the country’s sole energy and gas importing organisation plans to be automated in a serious bid to timely realize the prices of sold oil and gas.
BPC supplies oil and gas at the dealer level across the country under its marketing and distribution bodies like ‘Padma Oil Co. Ltd.’, ‘Meghna Petroleum Co. Ltd’, ‘Jamuna Oil Co. Ltd.’ And ‘Standard Asiatic Oil Co. Ltd.’
Although BPC itself finance to import oil and gas but the price goes to the marketing and distributing organisations and BPC has to wait for 6 months to 1 year time to get the money. Even BPC has to face hard adjust the outstanding bills in the market against the invoice.
BPC Chairman admits that it has been very cumbersome process to adjust accounts even after appointing Auditors.
Sources concerned said 1 litre of Disel is sold at Tk 62.52 at the dealer stage of which BPC to get 59.81 and companies to get only Tk 2.71 for distribution cost, but the total amount for selling price oil remain with marketing and distribution companies for moths together, whereas loss amount of BPC, that meets the import cost from the government exchequer, stands at Tk 800 crore a year.
Besides, BPC has to depend on distribution and marketing companies to get the calculation of storage and supply of oil.
On the said perspective, the BPC is going for digitalize all of the processes of recovery of oil and gas selling prices of the distribution companies immediately aiming to resolve the problems.
Sources also said under the automation process there will have opportunity to the deposit money of sold oil to the banks and with an special banking arrangement soon after deposit of the amount the due parts of BPC and distributing organisations will instantly be divided to their respective bank accounts.
Md. Shamsur Rahman, Chairman of BPC said primarily the collection process will run at all the branches of NRB Commercial Bank, National Bank and Islami Bank Bangladesh Limited and later gradually all the branches of commercial bank will be brought under its network.
He hoped that this automation process will contribute significantly in realizing the money of sold oil of BPC. It will also help to get a proper picture of supply and storage of oil and gas of the country.
