Unpaid DSL of SOEs Tk 98,066 cr till June ’11
Power and energy sector tops the default list
Dhaka, June 16 (UNB) – Total unpaid debt service liability (DSL) of 89 state-owned enterprises (SOEs) stood at Tk 98,066 crore till June 2011.
According to a report on the budget document of Bangladesh Economic Survey 2012, among the SOEs, the Power Development Board (PDB) tops the list in terms of highest foreign debt receiver while Essential Drugs Company Limited (EDCL) stands in the bottom of the list.
The power and energy sector dominates the list of the DSL defaulters.
When a state-owned organisation or SOE takes loan from any international agency, it has to negotiate with the lending agency through the Economic Relations Division (ERD).
The ERD as the government’s responsible body takes the loan from the international agency on behalf of SOEs and then it lends the money to the SOEs with a certain interest and conditions.
So, when any government organisation takes foreign loan, it has to take the loan through ERD and also pay it back through the ERD complying with certain procedures. Such repayment is called debt service liability.
Among the SOEs, the PDB has emerged as the largest defaulter having unpaid DSL of Tk 43,529 crore.
The PDB alone holds 44.38 percent of the total unpaid DSL while the remaining 88 SOEs together represent 55.62 percent of the total foreign loan.
Of the total default loan, the principal amount is Tk 12,855 crore and interest is Tk 23,734 crore.
The PDB is followed by Petrobangla whose default DSL is Tk 9,507.24 crore and Bangladesh Chemical Industries Corporation has been the next to Petrobangla having a default DSL of Tk 8,098.61 crore.
Bangladesh Petroleum Corporation (BPC) has been another major defaulter of DSL with Tk 6,838.99 crore unpaid.
The top other defaulters of DSL include Rural Electrification Board (REB) having unpaid DSL of Tk 5289.13 crore, Dhaka Power Distribution Company Ltd (DPDC) Tk 3088.78 crore, Bangladesh Bridge Authority (BBA) Tk 2473.05 crore, Electricity Generation Company of Bangladesh (EGCB) Tk 1434.36, Bangladesh Inland Water Transport Authority (BIWTA) Tk 1466.15 crore, Dhaka Wasa Tk 1864.21 and Chittagong Wasa having unpaid DSL of Tk 1413.66 crore.
According to a report on the budget document of Bangladesh Economic Survey 2012, among the SOEs, the Power Development Board (PDB) tops the list in terms of highest foreign debt receiver while Essential Drugs Company Limited (EDCL) stands in the bottom of the list.
The power and energy sector dominates the list of the DSL defaulters.
When a state-owned organisation or SOE takes loan from any international agency, it has to negotiate with the lending agency through the Economic Relations Division (ERD).
The ERD as the government’s responsible body takes the loan from the international agency on behalf of SOEs and then it lends the money to the SOEs with a certain interest and conditions.
So, when any government organisation takes foreign loan, it has to take the loan through ERD and also pay it back through the ERD complying with certain procedures. Such repayment is called debt service liability.
Among the SOEs, the PDB has emerged as the largest defaulter having unpaid DSL of Tk 43,529 crore.
The PDB alone holds 44.38 percent of the total unpaid DSL while the remaining 88 SOEs together represent 55.62 percent of the total foreign loan.
Of the total default loan, the principal amount is Tk 12,855 crore and interest is Tk 23,734 crore.
The PDB is followed by Petrobangla whose default DSL is Tk 9,507.24 crore and Bangladesh Chemical Industries Corporation has been the next to Petrobangla having a default DSL of Tk 8,098.61 crore.
Bangladesh Petroleum Corporation (BPC) has been another major defaulter of DSL with Tk 6,838.99 crore unpaid.
The top other defaulters of DSL include Rural Electrification Board (REB) having unpaid DSL of Tk 5289.13 crore, Dhaka Power Distribution Company Ltd (DPDC) Tk 3088.78 crore, Bangladesh Bridge Authority (BBA) Tk 2473.05 crore, Electricity Generation Company of Bangladesh (EGCB) Tk 1434.36, Bangladesh Inland Water Transport Authority (BIWTA) Tk 1466.15 crore, Dhaka Wasa Tk 1864.21 and Chittagong Wasa having unpaid DSL of Tk 1413.66 crore.
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