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Business

The net profit of Bangladesh Submarine Cable Company or BSCCL rose 28 percent year-on-year last fiscal year, thanks to the bandwidth export by the state-owned firm. Its net profit stood at Tk 16.5 crore at the end of 2015-16, up from Tk 12.9 crore a year ago. The company's revenue stood at Tk 61 crore in 2015-16, which was Tk 54 crore a year earlier.

The prime minister will take a final decision on shutting down Citycell after a meeting with the telecom regulator tomorrow, when the issue will be discussed, two government functionaries said yesterday.

The government is set to bring in major changes to the incentive structure for exports to achieve the higher growth target set for this fiscal year. The export target for fiscal 2016-17 is $37 billion, up 8 percent from last fiscal year's receipts. The new incentive structure will be announced in a couple of days, according to a finance ministry official.
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