Bangladesh Satellite Company Limited (BSCL), the government organization operating the satellite, has made a profit of Tk 85 crore in the financial year 2021-22, despite the crisis of dollar. However, in the previous year’s debt, this year also made a loss of about 66 crore taka.
According to BSCL’s latest audit report (2021-22), the satellite showed a profit without calculating the depreciation. However, as a depreciation, it has made almost the same amount of loss in the previous financial year like this year as well.
In the audit report, the income from Bangabandhu-1 satellite has been shown as 13 crore 35 lakh 84 thousand taka. As a result, the profit of the company stood at 85 crore 29 lakh taka. And the asset value of the 15-year Bangabandhu satellite has been shown to be Tk 2,784 crore. As a result, annual depreciation (straight line method) stands at around 186 crores. Therefore, taking the depreciation into consideration of worth Tk 186 crore, it can be seen that BSCL made a loss (Tk 66 crore) in that financial year.
According to BSCL’s latest audit report (2021-22), BSCL has been audited by SF Ahmed & Company. According to their report, BSCL did not mention the full details of satellite assets in their asset statement. BSCL argued that BTRC had not transferred the asset value of the satellite from their asset statement. The audit firm also said that non-disclosure of asset value of satellites could affect the interpretation of BSCL’s asset statements.
However, the audit report of BTRC in the same financial year did not show any asset for the Bangabandhu satellite. Shown in previous fiscal years. In FY 2021-22, BTRC has correctly shown depreciation against satellite assets. In this financial year, BTRC has shown depreciation against satellite assets. BTRC’s revenue that year was around Tk 4,400 crore. As a result, depreciation on satellites has not had much impact on BTRC’s income and expenditure. That is, the degradation of Bangabandhu satellite is shown by BTRC cable. On the other hand, BSCL is shown as a profitable company without showing that depreciation. However, the cost of launching satellites does not add up to the project finance and day-to-day costs.
