Dhaka, (Barta24.com): Capital market enlisted Bashundhara Paper Mills has utilized the raised fund through IPO before the schedule time.
This has resulted in the production capacity of the paper & tissue mills of the country to the tune of 30 thousand metric tons annually. The mill is after fulfilling the demand of the local market is also exporting their products to 23 countries including neighboring India.
The mill started its journey in 1995 though in one unit its commercial activities began in 1997. The company was enlisted in 2018. At present 52 types of tissue are being produced.
The company said that the price of the main raw materials of the paper, pulp has doubled(each ton 500-900 dollars) that compels it to enhance price of the papers.
But considering the interest of the purchasers the price of the products was not enhanced to that extent. Rather to minimize the production cost the company is now using solar power instead of electricity. Along side, the used water is being recycled. The company is working on to check environment pollution.
While visiting the mills at Naryanganj and Munshiganj it was found in one unit of the mill a modern machine worth Taka 107 crores has been installed which has already started production. Now the annual production capacity of the mill has stood to one lakh 43 thousand metric tons.
As the work in the mill is of heavyweight machineries, so there were few female labors. However the number was higher in the second unit of Narayanganj. On the other hand the number is more in the third unit where research work is going on for inventing new products. In the Munshiganj unit there is arrangement of environment friendly effluent treatment plant(eft).
The head of project of Bashundhara paper mills unit 3 Engineer Abul Hassan told Barta24.com that the production cost has increased manifold as the price of raw materials has increased in the international market. Moreover in making pulp it requires huge trees which we do not posses. So we are to import pulp.
We have taken initiatives for recycling of water by proper maintenance to reduce the use of electricity. We are doing everything for reducing the price of the products for the convenience of the users.
The Deputy General Manager of the company M. Majedul Islam told Barta24.com that we are facing manifold adversaries to keep the price of the product static because of the frequent enhancement of electricity and gas prices. On the other hand the price of pulp is increasing. But we cannot increase the price of the product.
He told that capitalizing the production capacity of the company we have no desire to raise money by utilizing right share in the capital market.
According to the version of the company, in the three units of Bashundhara paper mills , one lakh 43 thousand metric tons of tissue paper, 34 thousand 308 tons of paper, one crore 89 pieces of printing paper, 12 crores pp oven bag and sack bag, one crore packet of sanitary napkin, 5 crores 39 lakh 48 thousand pieces of baby diaper, 8 crores 48 thousand pieces of diapant, 1667 tons of sladge board and and 2.5 crores pieces of hand gloves are produced annually.
In 2017-18 fiscal the cost of the production of various products were 890 cores which was 817 crores in the same time of previous year. The net profit after tax deduction was 69 crores in the outgoing year which was 38 crores in previous year.