Bangladesh Shipping Corporation (BSC) will purchase two bulk vessels using its own funds, announced Shipping Adviser Brig Gen (retd) M Sakhawat Hussain at the 47th annual general meeting held at Chittagong Boat Club today.

The decision, approved by the BSC board, marks a significant step in expanding the state-owned entity’s fleet. The entity currently operates five vessels profitably.

Highlighting BSC’s financial management, the adviser and chairman of the BSC board noted the repayment of a Tk 500 crore government loan as a rare achievement for a government institution. Additionally, BSC is in the process of acquiring four more vessels through a Chinese loan.

Addressing future developments, Sakhawat emphasized the government’s efforts to attract foreign investment in Chittagong port and transform it into a world-class facility.

Middle Eastern countries have proposed investing around USD 1.8 billion in Chattogram and other seaports, while the World Bank has expressed interest in investing USD 650 million in the proposed Bay Terminal project.

These investments are expected to create more jobs for Chattogram region workers and improve their pay scales. BSC Managing Director Mahmudul Malek, also present at the meeting, underscored the corporation’s role in driving economic growth through strategic fleet expansion and sustainable financial practices.