Power Grid Company of Bangladesh Limited, a state-owned energy and power sector company, has incurred a loss of Tk 444 crore ($52.2 million) in the first six months of the current financial year 2022-23. In the three months of October-December, the company suffered a loss of over Tk 392 crore ($46 million). The company attributes the losses to factors such as the appreciation of the dollar against the Taka, stagnant wheeling charges, and investments in various projects.
Comparing the financial performance to the previous year, the company’s income increased by Tk 646.8 million ($7.6 million) or 5.5%, but its business decreased by Tk 100 million ($1.2 million) or 19.5%. The company’s losses have raised concerns among market participants, who demand an investigation to determine if any irregularities or conspiracies are involved. The financial reports also show a net loss of Tk 281.5 crore ($33.1 million) after tax in the first six months of the current financial year.
Source for more details:
