State-owned Bangladesh Satellite Company Limited (BSCL) has paid Tk291.5 million in outstanding income tax covering its first four financial years, clearing all of its tax arrears as part of a broader effort to strengthen financial discipline under the current management.
The payment, made in June during the current financial year, covers unpaid income tax liabilities for the 2018-19, 2019-20, 2020-21 and 2021-22 financial years. Following the settlement, the company has no outstanding income tax liabilities, BSCL said in a press release.
The company said its current management initiated the move after reviewing BSCL’s financial management and identifying the long-standing unpaid tax obligations.
According to BSCL, settling the historic liabilities marks an important step towards establishing financial discipline and will help reinforce the company’s financial foundation while promoting greater accountability and good governance.
Managing Director and Chief Executive Officer Dr Imadur Rahman said the management had prioritised transparency and discipline in BSCL’s financial operations since taking office.
He said the company had taken steps to gradually settle unresolved financial liabilities inherited from previous years, with the payment of outstanding income tax for four financial years forming a key part of that process. The objective, he added, is not only to achieve financial success but also to build BSCL into an accountable, sustainable and well-governed organisation.
BSCL also said it became profitable for the first time as a state-owned enterprise in the 2024-25 financial year. According to the company’s financial statements, it generated revenue of Tk2.4513 billion against expenditure of Tk2.0677 billion, resulting in a net profit of Tk383.5 million.
