Photo : Collected
At long last, a total of 26 state enterprises affiliated with the Ministry of Power, Energy and Mineral Resources are going to be listed in the capital market.
In a latest development, the highly-placed sources from both the Ministry of Power, Energy and Mineral Resources, and the Bangladesh Securities and Exchange Commission (BSEC) have come up with this revealing information Sunday night.
All these government entities are already making good profit, the sources have confirmed.
For quite a long time, people related to the country’s capital market have been calling for the listing of government institutions in the stock market. Even the economists and market experts have also been making the same demand. With this latest development, everyone’s demands are finally going to be fulfilled.
It has been informed that the companies that are initially slated for listing in the capital market include - Bangladesh Petroleum Corporation (BPC), Bangladesh Petroleum Institute (BPI), BAPEX, BGFCL, SGFL, GTCL, TGTDCL, BGDCL, JGTDSL, KGDCL, SGCL, RPGCL, BCMCL, MGMCL, POCL, MPL, LPGL, SOCL and ERL.
When asked about this, State Minister for Power, Energy and Mineral Resources Nasrul Hamid told The Daily Messenger, “We have started talking with the BSEC about the enlistment of these power and energy sector companies. We will appoint a consultant over the issue and afterwards we will make a detailed outline as to how the government entities can get enlisted.”
While talking to The Daily Messenger, BSEC Chairman Professor Shibli Rubayat-Ul-Islam said, “Discussions have already taken place with the Ministry of Power, Energy and Mineral Resources to increase the depth of the capital market. They have agreed to bring 26 companies to the capital market.”
Efforts are being made to bring them to the capital market quickly, he noted.
In this regard, stock market expert Professor Abu Ahmed told The Daily Messenger, “To take the market to international level, different government entities should be enlisted in the capital market. As a result, the local and foreign giants will be interested in our capital market.”
It can be noted that 23 companies are currently listed in the capital market from the power, energy and mineral resources sector. Of these, Titas Gas Transmission and Distribution Company, Padma Oil, Meghna Petroleum, Jamuna Oil, DESCO, Power Grid Company of Bangladesh, and Eastern Lubricants are government entities.
Dhaka Stock Exchange sources said these companies are making good profit since their enlistment. They have provided at least 5 and a highest 140 percent cash dividend.
Messenger/Fameema
