Bangladesh to privatize postal network
Bangladesh’s state-owned post and telecom network will be turned into a public limited corporation (PLC), a move that follows the privatization of Bangladesh Biman, the national airline.
Bangladesh Telegraph and Telephone Board (BTTB) has been a state-run network like such operations across South Asia. The government now wants to convert it into a PLC but wants to retain full control.
The move is to cut the red tape that causes delays, officials say. Ostensibly, a PLC would also enable outside funding.
The BTTB earns Tk 1.5 billion (USD 23 million) on an average annually, which it deposits with the exchequer. It gets an allocation under an annual development program to bear its operational costs that BTTB officials say involves a cumbersome bureaucratic process.
According to the draft ordinance, the state-owned BTTB will become a fully government-owned PLC named Bangladesh Telecom Company Ltd, New Age said yesterday.
The state-owned mobile operator, Teletalk Bangladesh Ltd, will be its subsidiary, but run by a separate management.
