Tuesday, October 18, 2016

State owned institutions of Bangladesh


Name
About
Sonali Bank
Sonali Bank was established in 1972 under the Bangladesh Banks (Nationalization) Order, through the amalgamation and nationalization of the branches of National Bank of Pakistan, Bank of Bhowalpur and Premier Bank branches located in East Pakistan until the 1971 Bangladesh Liberation War.
Rupali Bank
Rupali Bank Ltd. was constituted with the merger of 3 (three) erstwhile commercial banks i.e. Muslim Commercial Bank Ltd., Australasia Bank Ltd. And Standard Bank Ltd. operated in the then Pakistan on March 26, 1972 under the Bangladesh Banks (Nationalization) Order 1972. Rupali Bank worked as a nationalized commercial bank till December 13, 1986. When the Bank went public but the majority of the shares are still retained by the Government.
Agrani Bank
Agrani Bank is a state-owned commercial bank of Bangladesh established in 1972 .It started functioning as nationalized commercial bank taking over assets and liabilities of the erstwhile Habib Bank ltd and commerce Bank ltd. functioning in the East Pakistan. It has been corporatized on 15 November 2007 and emerged as Agrani Bank Limited (ABL) taking over assets, liability and goodwill of Agrani Bank. The authorized capital of the Bank is Tk 8 billion.
Janata Bank
Janata Bank Ltd. is a state-owned commercial bank of Bangladesh established in 1971. Its headquarters is situated at Motijheel in Dhaka, the capital city of Bangladesh. It is the second largest commercial bank in Bangladesh.
BTMC
Bangladesh Textile Mills Corporation (BTMC) was established under Article 10 of Bangladesh Industrial Enterprises (Nationalization) Order of 26th March, 1972 (President’s Order No. 27 of 1972). BTMC started its formal function from 1st July, 1972 with 74 nationalized mills with the aim and objective of controlling, supervising and coordinating the activities of textile mills nationalized and placed under it; as well as establishment and development of new industrial enterprises. Later on another 12 mills were established by BTMC. Therefore, the total number of mills of BTMC were 86.
BSEC
Bangladesh Steel & Engineering Corporation (BSEC) were formed by the amalgamation of the then Bangladesh Steel Mills Corporation and Bangladesh Engineering & Shipbuilding Corporation under Bangladesh Industrial Enterprises (Nationalisation, 2nd Amendment) Ordinance, 1976. Bangladesh Steel & Engineering Corporation Initially started functioning with 62 (sixty two) enterprises. Afterward BSEC established one industry named Bangladesh Blade Factory Ltd. (BBFL) in 1984. Presently BSEC has only 8 (eight) industrial enterprises in operation amongst which 49% shares of 3 (three) enterprises viz, Atlas Bangladesh Ltd., National Tubes Ltd. &  Eastern Cables Ltd. have been offloaded  to the general public and employees of the respective companies
BSFIC
Bangladesh Sugar & Food Industries Corporation (BSFIC) emerged as a single corporate body from 1st July,1976 due to merging of two separate Corporations viz .Bangladesh Sugar Mills Corporation (BSMC) and Bangladesh Food & Allied Industries Corporation(BFAIC) which were established under presidential Order No.27 of 26th march,1972.BSFIC is a sector Corporation under the ministry of Industries.
BCIC
Bangladesh Chemical Industries Corporation (BCIC), fully owned by the Government, was established in July, 1976 by a presidential Order. The Corporation is now managing 13 large and medium size industrial enterprises engaged in producing a wide range of products like Urea, TSP, DAP, Paper, Cement, Glass sheet, Hardboard, Sanitary ware & Insulator etc.
BFIDC
The Govrnment of Pakistan by its Ordinance No. LXVII dated 3rd October 1959, established East Pakistan Forest Industries Development Corporation. After independence, the name of the corporation was changed to Bangladesh Forest Industries Development Corporation (BFIDC), under Presidential Order No .48 of 1972.
BJMC
Bangladesh Jute Mills Corporation (BJMC) was established under Article 10 of Bangladesh Industrial Enterprises (Nationalization) Order 1972 (PO 27 of 1972) with the aim and objective of controlling, supervising and coordinating the activities of jute mills nationalized and placed under it
BPDB
The Bangladesh Power Development Board (BPDB) was created as a public sector organization to boost the country’s power sector after the emergence of Bangladesh as an independent state in 1972. The organization is responsible for planning and developing the nation's power infrastructure and for operating much of its power generation facilities. The BPDB is responsible for the major portion of generation and distribution of electricity mainly in urban areas of the country. The Board is now under the Power Division of the Bangladesh Ministry of Power, Energy and Mineral Resources
BSC
The Shipping corporation was founded on 5 February 1972, under presidential order number 10, right after the independence of Bangladesh. It purchased its first ship in 1974. The ship was named Banglar Doot (Ambassador of Bengal). As of 2001, the corporation owned 13 ships, two of which are oil tankers
BIWTC
Bangladesh Inland Water Transport Corporation (BIWTC) was established in the public sector by the Govt. in 1972 with the then East Pakistan Shipping Corporation, the only Govt. organization and other 9 number of private shipping companies.
BRTC
The Bangladesh Road Transport Corporation (BRTC) is the state-owned transport corporation of Bangladesh. It was established under the Government Ordinance No.7 of 1961 dated 4 February 1961. Following the independence of Bangladesh in 1971, it assumed its current name.
BPC
Bangladesh Petroleum Corporation (BPC) is a government agency in Bangladesh to import, distribute and market oil and petroleum products. Founded in 1976 by Presidential Ordinance, it had an annual import level of as much as 29 million barrels as of 2009.
TCB
Trading Corporation of Bangladesh (TCB) an autonomous state trading organization under the Ministry of Commerce. After liberation in December 1971, Bangladesh inherited a devastated economy, a disrupted system of communication, and damaged ports. This necessitated urgent import of essential consumer goods and industrial raw materials. In this background, TCB was created in 1972 by the Presidential Order No 68. To start with, it took over all the assets, liabilities and manpower of then of the Trading Corporation of Pakistan.
Khulna Shipyard
Khulna Shipyard Limited is a ship construction and repair yard at the Khulna, Bangladesh owned by the Government of Bangladesh under Ministry of Defense and managed by the Bangladesh Navy. The Shipyard was founded in 1957. On October 3, 1999 the Shipyard with a 993.7 million taka debt was handed over to Bangladesh Navy. In 2008 all debt had been cleared and since then has been making profit. The Maldives had expressed interest in procuring patrol crafts for its Coast Guard.
BJBC
The Jiban Bima Corporation (JBC) is the lone state-owned life Insurance company in Bangladesh, which started its maiden journey on May 14,1973 with assets and liabilities worth TK. 15.70 crore (157 million) of defunct 37 life Insurance companies. Since its inception, JBC is working among the people of Bangladesh with two basic objectives: firstly, to cover the risks and raise savings habits among the people and secondly, create funds for the country’s economic development through innovative life insurance schemes.
BSBC
Sadharan Bima Corporation emerged on 14th May, 1973 under the Insurance Corporation Act. (Act. No.VI) of 1973 as the single state owned organization to deal with all classes of General Insurance & Re-insurance business emanating in Bangladesh.
BTRC
The Bangladesh Telecommunication Regulatory Commission (BTRC) is an independent commission founded under the Bangladesh Telecommunication Act, 2001(Act # 18 of 2001). The BTRC is responsible for regulating all matters related to telecommunications (wire, cellular, satellite and cable) of Bangladesh. The BTRC started operating from 31 January 2002 with a vision of facilitating affordable telecommunication services and increasing the tele density to at least 10 telephones per 100 inhabitants by 2010.
BWDB
Bangladesh Water Development Board (BWDB) constituted originally in 1959 as a component of the East Pakistan Water and Power Development Authority on the recommendation of the Curg Mission formed to develop recommendations for solving the problems of flooding and losses of life and property, including crops. The board was advised to take immediate measures to construct dams, barrages, embankments, drainage systems, irrigation canals, and to negotiate with India for the management of the water of common rivers. The board has a chairman and five members.
RAJUK
The Rajdhani Unnayan Kartripakkha (RAJUK) had been emerged through the ongoing crisis of planned and controlled development of Dhaka City. RAJUK established in April 30, 1987 by replacing Dhaka Improvement Trust (DIT). The prime intension of the organization was to develop, improve, extend and manage the city and the peripheral areas through a process of proper development planning and development control.
BFDC
Bangladesh Film Development Corporation established under, The east Pakistan film development corporation bill 1957
Bangladesh Oil, Gas & Mineral Resources Corporation, Dhaka Water and Sewerage Authority (WASA), Chittagong Water and Swerage Authority and Khulna Water and Sewerage Authority. Chittagong Port Authority, Mongla Port Authority, Mongla Dock Worker’s Management Board, Bangladesh Land Port Authority. Bangladesh Jute Corporation (BJC), Bangladesh Fisheries Development Corporation (BFDC), Bangladesh Agriculture Development Corporation (BADC). Chittagong Development Authority (CDA), Rajshahi Development Authority (RDA), Khulna Development Authority (KDA) and National Housing Authority. Bangladesh Muktijoddha Kalyan Trust, Bangladesh Film Development Corporation (BFDC), Bangladesh Parjatan Corporation (BPC), Bangladesh Small and Cottage Industries Corporation (BSCIC), Bangladesh Civil Aviation Authority, Rural Electrification Board (REB), Bangladesh Export Processing Zone Authority (BEPZA), Bangladesh Handloom Board, Bangladesh Sericulture Board, Bangladesh Tea Board, Bangladesh Sericulture Research Institute, Bangladesh Bridge Authority and Bangladesh Energy Regulatory Commission.