ET Desk: Bangladesh Satellite Company Limited (BSCL) has made a one-time payment of Tk 29.15 crore to the government, covering outstanding income tax for the first four fiscal years (2018-19, 2019-20, 2020-21, and 2021-22) following its inception. This outstanding amount was paid in June of the current fiscal year. The current management took the initiative to clear these past dues after assuming responsibility.

Upon reviewing the organization’s financial management, the current management took the initiative to settle these long-standing arrears. As part of this process, a lump-sum payment of Tk 29.15 crore has been made to the government. BSCL considers this move to clear past financial liabilities a significant step towards establishing financial discipline within the organization.

According to BSCL, this initiative to settle past financial liabilities will further strengthen the organization’s financial foundation and help ensure accountability and good governance in the future.

Dr. Imadur Rahman, Managing Director and CEO of Bangladesh Satellite Company Limited (BSCL), said, “Since assuming responsibility, we have accorded the highest priority to establishing transparency and discipline in BSCL’s financial management. We have taken initiatives to progressively settle the organization’s outstanding financial liabilities from the past. The payment of unpaid income tax for four fiscal years is a significant part of that ongoing process.”

“Our goal is not merely to achieve financial success, but to build BSCL into an accountable, sustainable, and well-governed institution.”

It is noteworthy that BSCL has become a profitable entity for the first time in the 2024-25 fiscal year as a state-owned enterprise. According to the company’s financial report, total revenue for the fiscal year stood at Tk 245.13 crore, while total expenditure amounted to Tk 206.77 crore. Consequently, the organization’s net profit stood at Tk 38.35 crore.