Indian origin multinational company Marico Bangladesh Limited through its popular hair oil brand “Parachute” is putting the country into serious environmentally hazard by leaving over 30 crores plastic pet bottle a year without having any plan to recollect those.
The company earned over Tk 781 crore operating revenue by selling products in Bangladeshi market of which 70 percent money come along from Parachute, Marico Bangladesh annual report said.
“The company touches the lives of 1 out of every 2 Bangladeshis with an array of brands,” the company claimed at its website.
The blue chips of the 40 crore paid up Capital Company close at Tk 1,653 per share Wednesday.
Bangladesh’s High Court on January 6 ordered the government to ban single-use plastics in coastal areas and in hotels and restaurants in one year to combat pollution.
Although the ban had little impact Bangladesh In 2002 was among the first countries to ban the use of plastic and polythene bags in an effort to stop them collecting in waterways and on land .
The government should strictly enforce the ban on polythene under the existing law, Syeda Rizwana Hasan, chief executive of the Bangladesh Environmental Lawyers Association, told.
Concerns are growing worldwide about plastic pollution, especially in oceans, where nearly 50% of single-use plastic products end up, killing marine life and entering the human food supply, a study shown.
Worldwide, around 100 million tonnes of plastic are dumped into the water bodies every year, according to the United Nations.
Annually 87,000 tonnes of single-use plastics, including plastic bags, bottles, cups, plates and straws are thrown away in the country, according to another study by the Environment and Social Development Organization.
Marico’s earnings per share was Tk 67.88 in the first three quarters of the fiscal 2020-21, up from Tk 49.39 a year earlier. The company announced 300 per cent cash dividend for first three months.
The company has established a strong distribution network that reaches more than 790,000 outlets throughout the country.
Its flagship brand, Parachute completed its journey of twelve successful years in Bangladesh, with an ever-growing base of loyal consumers in October 2013, the company website claimed .
Incorporated here in 1999 the company Started operations in 2000 and listed on Dhaka and Chittagong Stock Exchange in 2009.