Photo : Messenger
The power and energy sector, listed on the stock market, has reserves up to 328 percent more than their paid-up capital. Unfortunately, these companies are pressuring the government for outstanding bills at a time when the government is struggling due to fund crisis. In contrast, the companies have received a huge amount of money as capacity charge.
According to the Dhaka Stock Exchange, the companies operating in the power sector include Summit Power, Doreen Power, Energypack Power Generation, Lub-rref Bangladesh, Baraka Patenga Power, Eastern Lubricants, Jamuna Oil Company, Khulna Power Company-KPCL, Linde BD, MJL Bangladesh, Meghna Petroleum, Padma Oil, Power Grid, Shahjibazar Power.
Muhammad Amzad Shakil, FCA, the company secretary of Doreen Power Generation, told The Daily Messenger, “We want to invest the reserve in our sister concerns, that's why we are increasing the reserve.”
“Yes, we have an outstanding bill with the government, and we have sent the invoice. No, we don't pressure for the dues. The government will pay at its convenient time,” he said.
United Power Generation
The capital of United Power Generation is Tk 579.69 crore, and the reserve amount is Tk 2,484.26 crore. That is, compared to the capital, the reserve amount is Tk 1904.56 crore more.
“For long-term investments, we don't utilise all the reserves,” said Mostak Ahmmed, FCA, the company secretary of United Power, speaking to The Daily Messenger.
He also said, “But we provide high dividends. Currently, we are providing Tk 170 per share.”
“Besides, we haven't distributed the money to the subsidiary companies yet; that's why the reserve has been increased,” he added.
Summit Power
The capital of Summit Power is Tk 1,067.90 crore, and the reserve amount is 2,000.94 crore. That is, compared to the capital, the reserve amount is Tk 1090.36 crore more.
Unfortunately, Swapon Kumar Pal, FCA, the company secretary, didn't respond to the email and even denied commenting on the issue.
Doreen Power Generation
The capital of Doreen Power Generation is Tk 181.12 crore, and the reserve amount is Tk 642.21 crores. That is, the reserve amount is Tk 461.9 crore more.
Lub-rref Bangladesh Limited (LRBDL)
The capital of LRBDL is Tk 145.24 crore, and the reserve amount is Tk 261.05 crores. That is, the reserve amount is Tk 115.81 more.
Linde BD
The capital of Linde BD is Tk 15.21 crore, and the reserve amount is Tk 591.31 crores. That is, compared to the capital, the reserve amount is Tk 576.9 crore more.
Energypac Power
Energypac Power's capital is Tk 190.20 crore, and the reserve amount is Tk 527.06 crore. That is, compared to the capital, the reserve amount is Tk 336.86 crores more.
DPDC
DPDC’s capital is Tk 397.57 crore, and the reserve amount is Tk 2221.10 crore. That is, compared to the capital, the reserve amount is Tk 1823.53 crores more.
Eastern Lubricants
The capital of Eastern Lubricants Blenders is Tk 1.31 crore, and the reserve amount is Tk 21.18 crores. That is, the reserve amount is Tk 19.87 crores more.
Baraka Patenga Power
The capital of Baraka Patenga Power is Tk 172.99 crore, and the reserve amount is Tk 181.59 crore. That is, the reserve amount is Tk 8.59 crore more.
Jamuna Oil Company
The capital of the company is Tk 110.42 crore, and the reserve amount is Tk 1,940.35 crores. That is, compared to the capital, the reserve amount is Tk 1830 crore more.
Khulna Power Company-KPCL
The capital of KPCL is Tk 397.41 crore, and the reserve amount is Tk 465.98 crore. That is, compared to the capital, the reserve amount is Tk 68.57 crore more.
MJL Bangladesh
The capital of MJL Bangladesh is Tk 316.75 crore, and the reserve amount is Tk 560.17 crore. That is, compared to the capital, the reserve amount is Tk 243.42 crore more.
Meghna Petroleum
The capital of Meghna Petroleum is Tk 108.21 crore, and the reserve amount is Tk 1776.38 crore. That is, compared to the capital, the reserve amount is Tk 1668.17 crore more.
Padma Oil Company
The capital of Padma Oil Company is Tk 98.23 crore, and the reserve amount is Tk 1681.93 crore. That is, compared to the capital, the reserve amount is Tk 1584 crore more.
PowerGrid Company
The capital of PowerGrid Company is Tk 712.72 crore, and the reserve amount is Tk 1633.38 crores. That is, compared to the capital, the reserve amount is Tk 920 crore more.
Shahjibazar Power
The capital of Shahjibazar Power is Tk 186.63 crore, and the reserve amount is Tk 407.29 crores. That is, compared to the capital, the reserve amount is Tk 220.66 crore more.
Power Development Board (PDB) recently asked the ministry in a report for Tk 43,000 crores to keep electricity supply running for the next six months. A major part of this money mainly comes from the sale of electricity, while a portion is also funded by government subsidies.
PDB officials say that PDB is drowning in huge debt due to non-availability of funds from all sectors.
An official of PDB, who did not want to be named, said that various power-generating stations will get Tk 34,000 crores from PDB. The plants are unable to import fuel due to non-payment of bills. Though the companies have a huge amount of money in their reserves, according to DSE.
Messenger/Disha
