B Mirror Report: Bangladesh Shipping Corporation (BSC) has yet to pay Tk 101 crore in outstanding dues to the Chattogram Port Authority (CPA), despite being a profitable entity and repeated commitments to settle the amount.

According to CPA sources, the unpaid dues include Tk 74.53 crore in port charges, Tk 14.44 crore in land rent, and Tk 12.15 crore in VAT payable to the National Board of Revenue (NBR).

The port authority recently informed the Ministry of Shipping about the issue, following multiple reminders sent to BSC that reportedly went unanswered. A senior CPA official, speaking on condition of anonymity, said a high-level coordination meeting between CPA and BSC was held on January 20 this year, where BSC agreed to pay Tk 43 crore within a week. A review committee was also proposed for the remaining amount. However, no payment has been made so far.

The official added that the unpaid VAT component is creating additional pressure, as CPA is unable to clear its obligations to the NBR, which has been urging payment.

Documents indicate that BSC had earlier cited the global economic downturn as a reason for delaying payments, with port charges suspended until December 2013. Although the corporation has since become financially stable, it has continued to defer settlement of the dues for over a decade.

BSC had also pledged to repay part of the dues in installments after obtaining no-objection certificates (NOCs) to scrap two vessels MT Banglar Jyoti and MT Banglar Saurav. While Tk 4.3 crore was paid initially, the corporation failed to honor its commitment to pay the remaining amount in monthly installments.

CPA sources further noted that, in addition to unpaid rent, the authority is bearing municipal taxes for land used by BSC, adding to its financial burden.

The port authority has now sought stronger intervention from the Ministry of Shipping to recover the outstanding dues.

Attempts to contact BSC Director (Finance) Md. Azamgir for comments were unsuccessful.

According to BSC data, the corporation recorded its highest-ever revenue and profit last year in its 54-year history, earning Tk 800 crore in revenue and Tk 306.56 crore in net profit, and declaring a 25 percent cash dividend for shareholders.