Bangladesh Shipping Corporation (BSC), the state flag carrier, has achieved a record net profit of Tk306.56 crore in the fiscal year 2024-25 securing the highest profit in the company’s 54-year history.

Shipping Adviser Brig Gen (retd) M Sakhawat Hossain, who is also the chairman of the Board of Directors of BSC, disclosed this at the 48th Annual General Meeting (AGM) of BSC held at the Chattogram Boat Club on Monday.

The adviser attended the annual meeting of officials and shareholders as the chief guest.

“In the 2024-25 fiscal year, BSC reported an operating income of Tk590.98 crore. Additional income from other sectors amounted to Tk207.30 crore, bringing the total income to Tk798.28 crore. Operating expenses were Tk289.92 crore, while administrative and financial expenses totaled Tk126.45 crore, resulting in total expenses of Tk416.27 crore. After tax adjustment, BSC’s net profit for the fiscal year was Tk306.56 crore,” he added.

BSC Managing Director, Commodore Mahmudul Malek, presided over the function, while Shipping Secretary, Nurunnahar Chowdhury, addressed the AGM as a special guest.

Members of the BSC board of directors and shareholders also participated in the meeting.

The shipping adviser also mentioned that BSC’s net income increased by about Tk56.87 crore in just one year.

In response to journalists’ inquiries about Chattogram Port, the shipping adviser alleged that a mafia ring exists around the port which had controlled its operations for 40 years, preventing new entrants.

This monopoly hindered the port’s development and profitability in the relevant sector.

The adviser noted that the Bangladesh Shipping Corporation (BSC) had struggled to make profits in the past due to this mafia influence.

However, the shipping corporation has recently achieved its highest income in its 54-year history.

The government has secured approximately one billion dollars in foreign investment for the development of Chattogram Port, with significant interest from international organisations in investing in the Bangladesh stock market.

These initiatives are expected to boost economic growth in Chattogram and create more job opportunities.

Shareholders Kabir Ahmed Chowdhury, Alhaj Abdul Wahab, Harilal Banik, Abdul Kader, and Alamgir Hossain shared their thoughts during the meeting.