I

r Private & Confidential

Ail{'ftil,Gd tn,kffiin& Co.

T fi ffi'Rffim ffi[J .f,{iTS
T
T Independent Auditors' Report
And
T Financial Statements
of
T
T
T Bangladesh Telecommunications Company Limited
Telejogajog Bhaban, 37 /E, Eskaton Garden, BTCL
T Dhaka-1000.
I
I For the year ended 30 fune, 2O2O

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i Auditor:
*ffi ffiffiffi
IND[PEI\dDHIUT MHMffiHR

r Ahmed Zaker & Co.

r Chartered Accountants
An Independent Member Firm of Geneva Group International (GGi)

I Green City Edge (Level - 10), 89, Kakrail, Dhaka-1000, Bangladesh.

Tel: 88-2-8300504-8, Fax : 88-2-8300509
E-mail: azcbaneladesh@ahmed-zaker.com Web: www.ahmed-zaker.com

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t Serial Particulars
Page
Reference

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No,

01 Independent Auditors' Report 01-5

t
OZ Staternent of Financiatr Position 06

03 Statement of Profit or Loss and Other Comprehensive Income 07

04 Statement of Changes in Equity OB

h 05 Statement of Cash Flows 09

t 06 Notes to the Financial Statements 10-23

t t:1.1.,:
07 of Property, Flant & Equipment [Annexune-A) 24

08 Schedule of Land fAnnexure A-1J 25-27

09 Aging of Accounts Receivable [Foreign Operators) Annexure-B 2B

T 10
Movement & Aging of General expenses, Liability for capacity
charges & settlements, Payable to other ICX for revenue share and 29-30

T tsTRC revenue share I

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tr
!
!
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F AhMEd Znken & Co. Hend Office :

89 Knknnil, Gneen Ciry Edqe (Level 1O), DhnkA IOOO, Bnnqlndesh

tl CHARTERED ACCOUN NTS

rilebs irt : www.nh m ed-znken.com E mni [: azcbnrq lnd esh @nh m ed-znken.co m

t
Phone: +88-O287OOIO18, Fnx: +88-O2-BrOOrOg

t Independent Auditors' Report

To the shareholders of Bangladesh Telecommunications Company Limited

t Report on the Audit of the Financial Statements.

I
Qualified Opinion
We have audited the financial statements of Bangladesh Telecommunications Company

I
Limited ["the Company"), which comprise the Statement of Financial Position as at 30 fune
2020, and Statement of Profit or Loss and Other Comprehensive Income, Statement of
Changes in Equity and Statement of Cash Flows for the year then ended, and notes to the
financial statements, including a summary of significant accounting policies.

L In our opinion, except for effects of the matters described under paragraph (1 to 15) in the
Basis for Qualified Opinion section of our report, the accompanying financial statements give
true and fair view, in all material respects, of the financial position of the Company as at 30
L fune 2020, and of its financial performance and its cash flows for the year then ended in

t accordance with International Financial Reporting Standards (lFRSs), where practicable, the
Companies ActL994, and other applicable laws and regulations.

Basis for Qualified Opinion:

L As disclosedin Note # 12,we could not verify the balance of cash in transit amounting to

t
1

Taka 3,534,439,989. BTCL is working for completion of reconciliations of said amount

which is yet to be completed.
2 The Company has reported Taka2,277,939,762 as Advance Income Tax as disclosed in
Note # 11.01, of the financial statements as on 30 |une 2020, However, corresponding
L provision for income tax stood at Taka 543,942,830 at the same date. As a result, the

! Company is yet to recover or fully adjust this excess amount of income tax of Taka
1,733,996,932 as paid till the reporting date from tax authority.

t ft
J" As disclosed Note # 19, Accrued Expenses amounts to Taka 18,519,035,484.We could not
confirm the balances with documents, agreements, confirmation letter, aging analysis etc.
We found a significant of Taka 15,364,551,166 is lying with BTRC, which needs to be

!T
settled between BTCL and BTRC after reconciliation and confirmation of balance.

4. We could not verify term loan (foreign loans) of Taka L5,954,964,803 [Ref: Note 22.01 &
22.02) in absence of agreement, confirmation and other supporting documents. The
Company has accounted for a part of foreign loans as a current portion'

I
I
I GG: qo*q :

f NT MEMBER Mujib qmbnd, C/A Ckimq rq - 4lOO. Tel: 07l-674701 E-mdL anupscky@yakoo.com, nnupcky@rhmed-aken.com
I
T
i
Af,rrtrd n &, Cn
C{'IAR?f;:ftEIB fi,C{ffi

T 5. i) As disclosed in Note # 10, Accounts receivables for the aggregate amount of Taka

I 22,327,068,204 (a significant amount of Tk. L,656 crore came from the opening balance of
1 July, 2008) could not be verified satisfactorily as the party-wise break-up of figures

r
related ledger account, ageing analysis, subsequent collection statement and confirmation
of balances was not available. Moreover, receivables from related parties amounting to
Taka 3,286,577,055 remained unsettled since long. Balances of related parties are yet to

r be confirmed or reconciled and the company did not disclose their related party
transaction in accounts. In our opinion the company is very unlikely to recover the amount
in full. The provision for Bad Debts Taka 2,795,380,996 [Ref: Note 18) appears to be
inadequate due to the facts that realization against receivables is very much
T unsatisfactory. No steps were made to arrive at the correct amount of Bad Debt.

r ii) The Company's Accounts receivables are carried forward in the statement of financial
position amounting to Taka 1,650,013,069, Taka ls,oLS,Tg4, Taka 29,9!3,614 and

r 49,084,477 as receivable from companies which were closed long ago, Other IGW as
BTCL ICX, Other IGW as BTCL ANS and Non-operating activities respectively since long
time. The company did not make correspondences with the parties to realize the

r outstanding balances.
iii)We could not veriff Accounts Receivables (Local operators) amounting Taka

I 3,787,982,843 [Ref: Note 10) in absence of schedule, annexure and other related
supporting documents"

r 6' As per "lAS-L2 Income taxes" every entity must recognize deferred tax liabilities/assets in
respect of taxable/deductible temporary differences. However,
Iiabilities/assets were not recognized in this regard.
the deferred tax

r 7. The company did not determine foreign currency gain or loss for foreign currency
transactions during the fiscal year 2019-2020. For this reason, we were unable to verify the

r 8.
balance of foreign currency gain or loss. The company does not have any foreign currency
account with any bank.

As disclosed in Note # 06, Govt. provident fund (GPFI Contra Taka Z19Z,B0B2Z9, the

I amount is same over the last few years. But no adjustment or reduction is made to the fund
since long against the settlement of retirement benefit.

I However, the management could not quantify the actual effect of the above
significant matters on the operating loss of the company. As a resul! we conclude

I that the operating loss reported in the accompanying statement of profit or loss and
other comprehensive income is not reflectingthe true operating results.

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 Ak,nr,rd fukun &, Cs,*
Cl'lARTfr.ftEiSefi,(.ffi Tf;:

Observations relating to opening balances at 7 July 2008:

As elaborated in note 1,1 to the accompanying financial statements, certain assets and liabilities
have been accounted for as per first balance sheet ofthe Company as at 1 July 2008 as prepared
by valuation report of M/S Rahman Rahman Huq but in the absence of details, no subsequent
follow up nor monitoring of these items could not be possible and these are-

9. Renewal and reserve fund - Government represents amount receivable from Government of
Bangladesh amounting BDT L73.4 crore but this amount has been carried forward from 2008 and
remain unchanged and unadjusted since then;
10. Advances include BDT L,392 crore and BDT 19 crore representing margins on Letters of Credit
and advances to suppliers respectively could not be verified by us satisfactorily in the absence of
schedules of the outstanding letters of credit, total commitment, current status and related
information. Further, payable of outstanding letter of credits payable to the contractors and
suppliers for Taka 867 crore in relation to projects as appearing in note 14 could not be verified by
us in the absence of relevant schedule, supporting and subsequent position. The noted amount of
Taka 867 crore has remained unchanged since long;

l-1. Stores and spares for BDT 76 crore (balance Taka 61 crore as of 1 July 2008) including the
valuation thereof could not be satisfactorily verified by us in absence of updated schedule
including obsolete and damaged items. The noted amount of BDT 76 corehas remained unchanged
since long. Further, no year-end verification of stores and spares has been carried out at 30
fune
2020;

12. The Company accounted for interest on term loans for the whole tenure of the loans at the time of
valuation at 30 fune 2008. Accordingly, no interest on term-loans has been charged in the
accompanying financial statements.

13' We could not verify security deposit & others amounting Taka L67 crore satisfactorily in the
absence of agreements, schedule and related supporting documents. Moreover, we could not verify
VAT and duties payable amounting Taka 54 crore in absence of schedule, invoices, Government
treasury challans etc.;

1,4. We could not verify, a) Loan to employees BDT 9.7 crore, b) Retirement benefit BDT.624 crore and
c) long-term pension liability (family & pensioners)Tk 1,662 crore as appearing in Note-23.01;

15. Other long-term liabilities comprising impaired assets for BDT 4,236 crore and others for BDT
5'98 core have been accounted for in the accompanying financial statements having no plan for
liquidation of such liability in a foreseeable future.
 -t

ffiffi-
We conducted our audit in accordance with International Standards
on Auditing [lSAs). our
responsibilities under those standards are further described in
the Auditors, Responsibilities
for the Audit of the Financial Statements section of our report. we
are independent of the
Company in accordance with the International Ethics Standards
Board for Accountants, Code
of Ethics for Professional Accountants (IESBA code) together with
the ethical requirements
that are relevant to our audit of the financial statements in Bangladesh,
and we have fulfilled
our other ethical responsibilities in accordance with the IESBA Code and
the Institute of
Chartered Accountants of Bangladesh (ICAB) Bye laws. We believe
that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for
our qualified opinion,
Emphasis of matter

We draw attention on the matters as disclosed below:

t ' As referred to in the financial statements which describes

concern in preparing financial statements by the Company. The
the basis of using going
Company has been
I making losses over the last few years which has also resulted
earnings balance at the reporting date, These conditions indicate
in negative retained
that a material
uncertainty exists that may cast significant doubt on the Company's

I as a going concern,
ability to continue

' As disclosed in Note # 26, the company shows total revenue

at Taka 7,L64,L}S,LB7 but
as per VAT return [Mushuk-9.lJ total revenue for the year depicts
at Taka
5,580,304,161 representing difference Taka 1,583,881,026.vAT
outstanding as on 30
|une 2020is Tk 43,226,493[Ref. Note 15). which we courd not verify in absence
of
challan for subsequent payment etc"

' The company maintains its Fixed Asset Register (FAR)

in excel file instead of software.
we could not verify the fixed assets in absence of identification number,
purchase date
& cost, assets category, accumulated depreciation etc" on individual
fixed assets. The
company calculates its depreciation expense manually
based on information contained
in fixed assets register. Depreciation amount comes to Taka
4,4'J-6,!24,702 for current
year' The company required to revalue of fixed assets
as per IAS-16. (Ref: Note-4)

I ' The company has no accounting policy regarding bad debts.

justify actual provision of bad debts,
That's why we could not

T Responsibilities of Management and Those charged with

Financial Statements and Internal Controls
Governance for the

I Management is responsible for the preparation and fair presentation

statements in accordance with International Financial
of the financial
Reporting standards [lFRs), where
practicable companies Act7994, and other applicable
laws and regulations and for such
internal control as management determines is necessary to enable
the preparation of
financial statements that are free from material misstatement,
whether due to fraud or
error.

I
I
I Ahmtd ffikfiH & Cs*
'fr.ftEm
I In preparing the financial statements, management is responsible for assessing the
T$

I company's ability to continue as a going concern, disclosing, as applicable, matters related

to going concern and using the going concern basis of accounting unless management
either intends to liquidate the company or to cease operations, or has no realistic

I alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial

T reporting process.

i Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements

I as a whole are free from material misstatement, whether due to fraud or error, and to issue
an auditor's report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in accordance with ISAs will

I always detect a material misstatement when it exists. Misstatements can arise from fraud
or error and are considered material if, individually or in the aggregate, they could'

I reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.

I
Report on other Legal and Regulatory Requirements

We also report the following:

t a) we have obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audit and made due

t
verification thereof;

b) in our opinioh, proper books of accounts, records and other statutory books aS
required by law have been kePt by the Company so far as it appeared frorn our

t examinations of those books; and

cJ the statement Financial PositioD, Statement of profit or loss and other

of

t Comprehensive lncome dealt with by the report are in agreement with the books of
account"

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Place: Dhaka Zaket& Co.
Dated: October 05, 2A20 Chartered Accountants

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 ffi ;*,t
Bangladesh Telecommunications Company Limited
Statement of Financial Position

E
As at Iune 30, 2020

Particulars
Assets:
Non-Current assets 332,L99,44O,293 330,234,57 6,LgL
Property, Plant and EquiPment, net 4.00 317,L28,943,9',J.6 315,058 ,722,556
5.0 0 21,07 0,+96,377 1.5,1 7 5,85 3,63 5
Capital Work-in- Progress
4,532,726,948 4,6L6,890,547
Other Non Current Assets
Government Provident Fund[GPF) - Contra 6.0 0 2,797,808,229 2,797,808,229
Renewal and Reserve Fund- Government 7.00 1,7 34,237,00 0 L,73+,237,000
Investment in Shares 8.00 681,7 L9 84,845,318
Total Non Current Assets 336,732,167 ,2,4L 334,85L,466,738
Current Assets 67,t79,992,389 65,630,702,L43
Stores and Spares 9.0 0 7 61,,521,538 7 6L,52L,538
10.0 0 22,32L,068,204 21,,87 1,,01,4,397
Accounts Receivables
Advances, Deposit and PrePaYments 11.00 16,680,335,292 L6,2+3,203,240
Cash and Cash Equivalents t2.00 27,41,7,067,355 26,75+,962,968

Total Assets: 403,9L2,L59,63L 400,482,168,882

Equity and Liabilities

Owners'Equity 254,854,422,380 258,098,663,846
2 0"00 00 L,B 1,8 00
Share Capital
Equity Reserve 2L.00 280,515,0 65,8+9 280,515,065,849
(20,1.59,246)
Un- Realize Gain / [LossJ on Investment [17,059,750)
Retained Earnings 25 ,6+3 ,5 B 5,5 19 22,396,244,557

Non- current Liabilities 1O2,808,980,857 96,935,337,593

Loans -Long Term Portion 22.01, 35,175,558,030
Loans-Term Liabilities to Employees 23.00 22,+1,1,417,82!
Government Provident Fund[GPF) - contra 24.00 2,797,808,229
Other Long -Term tr iabilities 25.00 42,424,796,777

Current Liabilities 46,248,756,394 45,448,167,443

Current Portion of Long Term Loans 22.02 1,L,545,62L,219
Security Deposits and Others 13.00 2,937,036,651,
14.0 0 8,67 3,3 84,0 09
Payable to Contractors and Suppliers
VAT and Duties Payables 15.0 0 572,77 9,923
Employees Emolument Deductions 16.00 t+,541,,096
Provision for Income Tax 1,7 .00 488,62L,97 4
18.0 0 2,7 50,738,859
Provision for Bad Debts
19.0 0 1 8,5 19,0 35 ,484 LB,3 66,043,71.2
Accrued Expenses

Total Liabilities t49,O57,737,25L L42,383,505,036

r Total Equity and Liabilities 403,9L2,L59,63X. 400,482,7.68,882

The annexed notes 0L to 33 are an integral part of these financial statements.

r Director Managing Director

S

r Signed as per our separate report on same date"

r Place: Dhal<a
Dated: October 05, 2420
aker & Co.
Accountants

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t A;lrrwud,ffief{sn'&, Co*

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( ffiEE},t-fi, d}.

Bangladesh Telecommunications Company Limited

t
Statement of Profit or Loss and Other Comprehensive Income
For the year ended June 30. 2020
r-l
Particulars
EJ 7,t64,185,L87 8,868,L3L,469
T Revenue 26

I Less: Cost of services 27 3,488,11.5, L26 3,998,1.86,3 t 1

Less: Adrninistrative expenses 2B 4,t97,892,527 3,9L5,955,ZLV
Less: Repairs and maintenance 29 303,7 65,37 4 339,67 9,1- 30

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Less: Depreciation 4 4,4L6,L24,7A2 5,607,3t2,398
L2,405,897,730 L3,862,1^43,056

Operating loss (5,241,7 t2,543) (4,994,01L,587)

T Add: Non - operating lncome 30 2,055,95 7 ,384 r,731.,078,920

r Less: Bank charges t6,264,947) (10,156,42L)

Less: Foreign exchange [loss] 345,A79,353
Net loss before tax [3,6 LS,L68,aal)
5] (63,595,762\

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Less: Income tax expense L7 [5 5,3 2 0,8 5

Net loss after tax (3,247,340,962) (3,68 !,7 63,7 03)

99,496 (2,369,555)

t
Other comprehensive income/(loss) 3,0

Capital gain realized/Unrealized [LossJ 3,09 9,496 (2,369,555)

from investment in shares

I Total comprehensive income /floss) (3,2aa2aL,a6A (3,684,83,25!,_

I The annexed notes 01 to 33 are an integral part ofthese financial statements.

I Director Managing Director

s J..,
Dirbc

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I Place: Dhaka Ah ker & Co.

I Dated: October 05,2420 Charter Accountants

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I It,lr'mrd Znl*cn & Co.

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(htr&RTE ffi ES &,([,Otrl!t"tTjltf{T5

Bangladesh Telecommunications Company Limited

I
Statement of Changes in Equity
For the year ended June 30, 2020

Amount In Taka

t Particulars

Balance as on fune 30,2019

Share
Capital
Equity Reserve

280,5 L5,065,849
Un- Realize
Gain / (Loss)

(20,L59,246)
Retained Earnings

(22,396,244,557)
Total

I
L,B00 258,098,663,846

Net loss for the year (3,247,340,962) (3,247,340,962)

t
Capital gain realizef [Jn- Realize
3,099,496 3,099,496
ILossj

Balance as tln |une 30,2020 1,900 2 80,515,065, B4g (L7,059,750) {25,643,585,519) 254,854,42238A

t Statement of Changes in Equity

t
For
Amount in Taka
Particulars Share Un- Realize
Equity Reserve Retained Earnings Total
Capital Gain / (toss)

r Balance as 0n |une 3A,2018

Adjust" made during the yean

1,,80 0 280,515,0 65,849 (17 ,V89,69\) ['J,8,714,480,9 5 4J 26L,782,79V,L04

T {Jn- Realize Gain /

Net loss fon the year
[["ossJ (2,369,555)

(3,68 L,7 63,7 A3)

(2,369,55 5)

(3,68L,7 63,703)

r Balance as 0n fune 30,2019 1,800 280,515,065,849 (20,t59,2461 (22,396,244,5 5 7) 258,098,663,846

r Director Managing Director

r
t Place: Dhaka
Dated: October 05, 2020

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t Ah*rrd lZakrn & Co"
C$##{1;E*8 0 A(C0 $ F+Tfr i{TE

I Bangladesh Telecommunications Company

Limited
Statement of Cash Flows

3,!92,020,10q 3,618,1,68,44L

I Adiustment for Non Cash items

Depreciation charged during the year
L,ZZ4,1o4,s96 !,989,L43,957

t Cash Flows

Changes
from oPeartions

in working caPital

t receivable
(+05,417,67 t)
[Increasei /decrease in accounts 1437,132,053)
[Increase)in advances
503,7 7 A,535
Increase in security deposits and others 43,85 5,615
Increse/[Decnease) in VAT and duties payable

t Increase in current portion of long

increase/[decrease) in accrued
[Decreaie)/increase
-term loan
expenses
in ernployees emolument deductions
752,991,773
8,03 6
(141,917,,7 6+) 4,046,679,97 6

I Net cash flows from operating activities-A

Cashflowsfrorninvestingactivities;
!,oBZ,LSo,B32_ 6,03 5,823p33

t Acquisation of Property, plant and equipment

Cash reciePt from disPosal assets
(486,3+6,063)

5,89+,6+?f 42
[1,0 01,788,219)
257,40L
4,525-+,032

t Capital work-in- Progress

Net cash flows from investing activities-B

Cashflowsfromfinancingactivities:
(6,380,988,ffi)

6,073,6+3,264
(5,529,655,450)

3,872,5'2t,391

I Increase/[decrease) in long term loans

cash reciept from Sale of Inmarsat share.
Decrease in long- term liabilities to employees
Net cash flows from financing activities-c
87,263,095
200,000,000
5,960 906,3 59
3+9,999,999
3,522,52L,392

I Net increase of cash and cash equivalents(

Cash and cash equivalents at the beginning of
A+B+C)
the year
of the year
662,70+,387
26,75+p62968
27,+17,067,355
4,03 L,689,875
22,723,27 3,093
.-
26,7 54,962,968

t Closing cash and cash equivalents at the end

part of these financial statements'

The annexed notes 01 to 33 are an integral

I Director Managing Director

I Place: Dhaka

I
Dated: October 05, 2020

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I
I Aft*r'rd
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,lnrn
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I Bangladesh Telecommunications Company

Notes to the Financial Statements
For the Year ended lune 30. 2020

t 1,
t.t
Introduction and obiective
Historical background of BTCL

I The Telegraph branch under the posts and Telegraph Department was created in 1853 in the then
British India and was regulated afterwards under the Telegraph Act of 1885.The Telegraph branch
was reconstructed in !962 in the then Pakistan as Pakistan Telegraph and Telephone Department.

I After the independence of the People's Republic of Bangladesh in 1971-, Bangladesh Telegraph and
Telephone Department was set up under the Ministry of posts and Telecommunications to run the
Telecommunications services in Bangladesh. This was converted into a corporate body named

t "Telegraph and Telephone Board" by promulgation of Telegraph and Telephone Board Ordinance,
tgTS.lnpursuance of Ordinance No.XII of L979 promulgatedon24 February 1979, Telegraph and
Telephone Board was converted to "Bangladesh Telegraph and Telephone Board" as a Government

I
body"

Under the Bangladesh Telegraph and Telephone Board (Amendment) Ordinance,2008, the

t
Goyernment in public interest, by agreement transferred the entire undertaking of the Board to a
public limited company registered under the companies Act,1994 namely Bangladesh
Telecommunications Company Limited (BTCL) from 1 fuly 2008.The management of the Company
is vested in Board of Directors consisting of 9 members.

t Undertaking of the Board includes its officers and employees, business, projects, schemes, assets,
rights, powers, license, authorities and privileges, its properties, movable and immovable, reserve

I
funds, investments, deposits, borrowings, liabilities and obligations of whatever nature but does not
include those related to the submarine cable.

After the dissolution of the BTTB, all of the officers and employees who were serving under the

I dissolved Board are deemed to be officers or, as the case may be, employees of the BTCL on such
terms and conditions as may be determined by the BTCL or, until so determined, on the same terms
and conditions as were applicable to them in the dissolved Board prior to its dissolution,

I A German consultant firm namely M/s DETECON Gmbh was appointed to value the assets and
Iiabilities of BTTB for the conversion purpose. Due to time constraint, the consultant firm had to

I
value the assets and liabilities and net worth of BTTB as on 30 September 2007,Subsequently, the
Board of Directors of Bangladesh Telecommunications Company Limited decided to update the
value as on 30 |une 2008 as all the assets and liabilities of BTTB were transferred to BTCL as on 01
July 2008 through a vendor's agreement dated 30 June 2008 between Government of the people's

I Republic of Bangladesh (GOB) and BTCL. The report of Rahman Rahman Huq (RRH) an independent
valuer and first balance sheet as on 30 June 2008 drawn by them formed the basis for preparation
of 2008-2009 financial statements.

I t.2 Nature of Business

Bangladesh Telecommunications Company Limited is a public sector telecommunication service

I provider in Bangladesh. The Company provides the services like Telegraph, Local Telephone
Network, Nationwide dialing (NWD), International telephone call facilities, International circuits
Ieasing, International maritime satellite communication and internet and data services.

I
I 10
"..r.r.,*,:"m
GG5
INDEPENI:,ENT
MEt\4BER

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t
fu.kra,&'Sn-
I Ah*r,Ed
flt{Al E.&,afi{fitliHT'ffiT5

2
I 2.1
Basis of Preparation of financial statements

Statement of compliance

t These financial statements have been prepared in accordance with International Accounting
Standards QAS), International Financial Reporting Standards (IFRS), the Companies Act \994, and'
other applicable laws and regulations in Bangladesh'

I The accompanying financial statements have been consolidated based on the returns received from
128 operating units certified by the management of the Company without verification at unit level.

t 2.2 Basis of measurement

The accounts have been prepared on a going concern basis under historical cost convention.

t 2.3 Functional and presentation currency

The accounts are presented in Bangladesh Taka which is both functional currency and presentation
currency of the company. The figures of financial statements have been rounded off to the nearest

I 2.4
Taka.

Use of estimates and iudgments

t The preparation of accounts requires management to make judgments, estimates and assumptions
that affect the application of accounting policies and the reported amounts of assets, Iiabilities,
Income and expenses. The estimates and associated assumptions are based on historical experience
and various other factors that are believed to be reasonable under the circumstances, the result of
t which form the basis of making judgments about the carrying values of assets and liabilities that are
not readily apparent from other sources, Actual results may fifer from these estimates,

I Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the year in which the estimate is revised if the revision affects only that
year or in the year of revision and future periods if the revision affects both current and future

I 2.5
periods.

Components of the Financial Statements:

I The presentation of these financial statements is in accordance with the guidelines provided by IAS
1: Presentation of Financial Statements, The Financial Statement comprises:

D Statement of Financial Position as at June 30,2020,

I ii)
iii)
iv)
Statement of Profit or Loss and other Comprehensive Income for the year ended fune 30, 2020.
Statement of Changes in Equity for the year ended Iune 30, 2020'
Statement of Cash Flows for the year ended June 30, 2020'
v) Notes to the Financial Statements, Comprising a summary of significant accounting policies and
explanatory information.

t Signifi cant accounting policies

Accounting policies set out below have been applied consistently in preparation and presentation of
financial statements.

-$jt:j,:1""..il)f

GGI
INCIEPENDENT
MEIMBER
I
t ftfur*rd ffE;krnft fi*u
fih{ERTfiHEB.A[(fi.

t 3.1 Property, plant and equipment (PPE)

Recognition of property, plant and equipment

I These are capitalized at cast of acquisition and subsequently stated at cost Iess accumulated
depreciation in compliance with the benchmark treatment of IAS 16 "Property, plant and
Equipment", The cost of acquisition of an asset comprises its purchase price and any directly
attributable cost of bringing the asset to its operating condition for its intended use inclusive of

I inward freight, duties and non-refundable taxes.

Depreciation of property, plant and equipment

t Depreciation on items of property, plant and equipment is provided on a straight-line method over
the estimated useful Iives of each item of property, plant and equipment except Vehicles, IP data
and Test equipment on which depreciation has been charged on reducing balance method. For

I addition to property, plant and equipmen! depreciation is charged from the date of capitalization
up to the month immediately preceding the month of disposal. Depreciation method, useful lives
and residual values are reassessed at each reporting date. The estimated useful lives for different
type of assets in years are as follows,

t Items Years

I Buildings
Towers
Exchange equipment
Transmission
50
50
15

t
15
Outside plants 30
Electric Power and environmental control 15
Vehicles 05

I Office equipment, furniture and

IP
Test
data
equipment
fixtures 10
15
15

I The repairs & maintenance cost of the day to day servicing of the property, plant & equipment are
recognized in the statement of profit or loss and other comprehensive income as and when

I
incurred.
No depreciation is charged on Iand and capital work-in-progress.

3.2
I
Capital work-in-progress

Capital work-in-progress consists of acquisition costs of plant and machinery, capital components
and related installation cost until the date of capitalization of assets. In case of import of

t components, capital work-in-progress is recognized when their shipment is confirmed by the

supplier.

3.3
t Stores & Spares
Stores items were valued at original cost as available. Old items known
valued at Taka 1 each for identification purposes'
to have no value were

t2
I A$rnrd ffirktn *,Stu
{ ffi'E.ffiAfi'f0' TE

3.4 Accounts receivables

(a) Recognition and measurement

Accounts receivable consists of unpaid bills receivable from subscribers and unbilled revenue

t recognized at the balance sheet date and are stated net ofbad debts provision.

(b) Provision for bad and doubtful debts

I Unlikely previous years, the company has made provision for bad and doubtful debts at0.2o/o on
gross accounts receivables. Accordingly, a provision of Taka 44,642,L36 has been made for bad
and doubtful debts for the year under review.

T 3.5 Basis of payments to BTRC

The company has acquired 07 licenses from Bangladesh Telecommunications Regulatory
Commission (BTRC) for various terms. The Company did not require to pay acquisition fee

t (exempted) but is required to pay following annual renewal fees/charges:

A) PSTN license fee: annual fee of TK 10,000,000

I B) International Gateway (IGWJ service license fee: annual fee of TK 37,500,000
C)
D)
International Exchange (lEX) service license fee: annual fee ofTK 12,500,000
International Internet Gateway (llG) service license fee: annual fee of TK 250,000
,:

t E)
F)
Nationwide ISP (NISP) service Endorsement fee: annual fee of TK 100,000
Nationwide Telecommunication Transmission Network (NTTN) license fee: annual fee of TK
2,50,000

t G) International Terrestrial Cable (ITCJ license fee: annual fee of TK 2,51,00,000

In addition, the Company is required to pay share of telecom revenues to BTRC calculated

I 3.6
at various rates as prescrihed by BTRC.

Employee Benefits
to the vendor's agreement executed on 1 ]uly 2008 between the Government of
I Pursuant
Bangladesh and BTCL, the employees will be on the account of Government for 2 (two) subsequent
years and thereafter options will be obtained as to their performance whether employment of any
employee or staff should be transferred to the company or shall remain with the Government.

t In view of the above, no provision for pension and gratuity has been made in the accompanying
financial statements.

t In addition, BTCL maintains both defined contribution plan and defined benefit plan for its eligible
permanent employees. The eligibility is determined according to the terms and conditions
approved by the Government.

t (A) Defined contribution plan (provident fund)

All permanent employees usually contribute 100/o of their basic salary to the general

t provident fund but it may vary based on his/her declaration subject to government rules and
regulations in this regard. The Company collects the contributions from the employees and
deposits the same to the Government exchequer.

I (B) Defined benefit plan (pension)

Define benefit plan is a requirement benefit plan under which amount to be paid and
determined by reference to employees' earnings and years of service. The recognized
Employees' Pension Fund is considered as defined benefit plan as it meets the recognition

t criteria. The BTTB/BTCL's obligation is to provide the agreed benefits to required employees
as per condition of the fund.

I
13

I
t
 I

I
Aifu,mnd fu.ktffi fr #m"
I fi ffiEft Af;fifiii

(C) Short-term employees' benefits

I Short-term employee benefit obligations are measured on an undiscounted basis and are
expensed as the related service is provided.

I (D) Salary payments until pension ability

This is the accumulated cost attributable to the employees of discounting business of BTTB
telegraph and telex service. BTTB has discounted their telegraph and telex service but still
I urnf,toyt the related personnel who are yet to be retired. These employees are under-
distribuiing the revenue invoices once a month and performing some manual
"-ptoy."nt,
invoicing activities for internet customers'

I 3.7 Income tax

provision @ 0.600/o on
The company has no taxable income. As per Finance ActZolE,minimum tax
gross receipts has been made in the accompanying financial statements.
I 3.8 Revenuerecognition
I a) Telecom revenues are recognized when services are rendered,
I b) Interest on term deposits has been recognized on accrual basis,
c) Dividend income is recognized on cash receipt basis'

l 3.9 Foreign currencytransactions

Transactions in foreign currencies are recorded in the books at rate of exchange prevailing on the
date of the transactions. Monetary assets and liabilities in foreign currencies at the balance sheet
I date are translated into Bangladesh Taka at the rate of exchange prevailing at the balance
date.
sheet

I 3"10 Contingent Liabilities:

contingent liabilities are current or possible obligations or on liabilities arising from past events
and existence of which depends upon the occurrence or non-occurrence of one or more uncertain
future events which uru not within the control of the company. In accordance with IAS-37, they are
I disclosed in the Note No' 32 hereunder'

3.11 Comparative Information

I Comparative information has been disclosed in respect of the previous year for all
numlrical information in the financial statements and also the narrative and descriptive
I information when it is relevant for understanding of the current year financial statements.

3"12 General:
I a) The company has neither any investment in shares in Telephone Silpa Sangstha Ltd' And
Bangladesh Cable Shilpa Ltd. Nor any interest therein except business linkage as the
Government owned entities in the similar sector. Further, the Company has no control on
I the management of the aforesaid companies who are independently managed by their
Boards of Directors as separate entities;
b) The figures have been rounded offto the nearest Taka; and
I c) The figures relating to previous period have been rearranged to conform current
year's
presentation, where considered necessary'

I
t4
I
I
I
T &'Co'*

t
:.t+YAl{Y5

30 June , 2019

t
|

4.00 Property , Plant & Equipment: Tk. 3L1,L28,943,9L6

This is rnade as follows :

t
Particulars
+L8,439,48?,073 417 ,438,1-31,435
Opening Balance
486,346,063 1,OO L,7BB,2L9
Add: Addition during Year
437,581

t
Less: DisPosal during the Year
4L8,925,828,L36 4L8,439,482,073
Total Assets:

Depreciation:

I
103,380,759,5L7 97 ,773,627 ,300
0pening balance
4,416,L24,702 5,60 7 ,31,2,397
Add: Depreciation Chargred during year
180,180
Less: Adjustrnent during Year

I Total

Written down Value as at December 31-' 2OL9

L07,796,881,229

3LL,128,943,9L6 3L5'058J22,5,56
103,3 80,759,5\V

t The details schedul ofproperty, plants & Equipment are shown in attached

Land amounting Taka 2g,058 crore has been transferred to the Company
Annexure'A'

from Bangladesh Telegraph and Telephone

t Board (BTTB) through Vendor Agreement but the mutation of the land in favor-of the Company.completed for
lilg6.6lacre out of total lB47 .27 icre. Details of mutation and non-mutation of
1.
-_
land are enumerated in Annexure-A-

I 5.00 Capital work In progress: T'k" 2L,07A,496'3V7

This is made as follows :

t
Par,tiqulars
Opening Balance
3,438,306,808 3 ,438,3 0 5,6 5 B
TNDP
28,77 6,277 28,77 6,?77
77L KL
4,648,882,865

I
4,648,882,865
290 UPaztIa
4,435,996,988
MOTN
Institute 89,126,494
OFC Educational
2,47 1,,4L6, 1, 5 5 2,471,416,1,55
WBND, i<akrail
63,348,048 63,348,049

t
DWDM
L5,L75 853,63 5 10,650,729,004

5,894,642,7 42 4,525,124,632
Addition During the year ( Note: 5"01)

t
Less: Transfer to property plant and Equipments
2L,070,496,377 t5,L75,853,63 5
Closing Balance

I
Movement of Capital work-in'progress:

Opening balance as Closing balance as at

Name of proiect Addition Deduction / Transfer 3 0"06.2 0
at 0 L.O7 .Lg

I
3,438,306,808 z/5 3 ,438,3 0 7,0 B 3
TNDP-IICA
28,77 6,277
L71. KL 28,77 6,277
290 Upazilla OPtical 4,648,882,865 4,648,882,865
Fiber

I
4,435,996,988 5,816,0 6 0,369 1,0,252,057,357
MOTN
OFC network at 78,582,098 L67,708,592
89,126,494
educational Institute
2,471,41,6,L55
WBND,Karail 2,471.,4L6,L55
63,348,048

I DWDM 63,348,048
L5,L75,853,63 5 5,894,642,742 21,070,496,377
Total 20L9-2020

I
I
I
I Aftm,rd t*ktn & Co"

t
{l'l& BTEREO ACt 0UI,P,{TAt"IT s

SO J.rn" , 20f g I

I 5.01 Adclitions during the year: Tk" 5,89 4,642,7

This is made uP as follows:

Particulars
42

I L4,739,497 26,037,1L6
Building under construcilon
4,7 85 ,638,5 B 1 4,259,097 ,2\2
Plant and equipment under constructio
1,094,264,664 239 ,990,304
Other
5,894,642,742 4,525,L24,632
Total; -

I 6"00 Government provident fund(GPF): Tk. 2,797,808'229

This is made uP as follows:
ParticularS
---

I
2,797,808,229 2,797,808,229
0pening balance
Amount deducted during the year from employees
2,797,808,229
Closing balance
provident fund contribution and deposited

t
The above represents amount deducted from employees as Government
to the Government treasury"

7,00 Renewal and reserve fund- Government':Tk't'734,237 'OOO

I
This is made up as follows:
Particulars '1.,734,237,0 0! L,734,237,000
Renewal and reserve fund- Government
L,734,237,00L LJ34,23?,000
Total: -----

I
by M/s Rahman Rahman Huq
This represents the amount receivable from the Government of Bangladesh as valued
of the aforesaid fund"
and reiated terms and conditions are yet to be arrived at as to recovery

8.00 Investment in Shares; Tk. 681 ,7Lg

t This is made uP as follows:

Particulafs
Al Inmarsat plc"UK(1,45,V42 shares @ GBP 5"44 each listed in London 94,1,63,599

t Stock Exchange)
B)tnmarsat Holding Ltd"UK (5000 shares @ GBP 1 each is nonlisted
and valuation has been made on the basis of cost price)
681,,7 L9 68L,7 L9

t
6BL,7L9 84,845,318
Total:

Note: Share price of Inmarsat PIc was GBP 5.44 at the year end of 31 Decemb
er 2019, as a result appropriate
adjustment has been made in the financial statements'

I 9.00 Stores and spares: Tk"761,521,538

This is made uP as follows:

Particulars

I
643,205,856 643,205,8 5 6
Cables
L1.4,1,7 5,7 7 0 LL4,175,770
Stores
2,026,467 2,026,467
Apparatus and associated items
2,\13,445 2,1.13,445
Electrical instruments & accessories
l-
I
76L,521,538 7 6L,52L,538
Total:
In Cable & Stores Taka 61"L5 crore was brought forward from June 30,2008

10.00 Accounts receivables: Tk. 22,32X',068'244

I This is made up as follows:

Particulars
Local operators
3,787,982,843
7,560,970,732
3,733,328,043
7,551.,44L,863

I
Foreign operators fAnnexure "B")
10.01 5,153,898,453 4,756,433,136
Local customers
1,650,0 L3,069 L,650,013,069
Closed number owing comPanies
15,0 L5,794 L5,01,5,794
Other IGW as BTCL ICX
29 ,913,61,4

t
Other IGW as BTCL ANS
29 ,913,6L4
7 87 ,612,1,68 7 B0 ,654,97 3
Other operating activities
49,084,477 49 ,084,47 7
N on-operating activities
10.0 2 3,286,577,W 3,3 0 5,729 ,428
Receivables form related Parties
22,321,068,291- 2L,87L,014,397

I
.

t
t
I A,lrnird ilnkrn &, Co"

I
ff 't& RT Efi E E A,(r-CItJrf ^ITfi*"lT:9

I 10.01 Local customers: Tk. 5,153,898,453

This is rnade up as follows:

t
Particulars
Opening Balance 4,7 56,433,L36 4,349,518,937
Add: Addition During the Year 1_,900,89 0,205 2,27 0,388,3 63
6,657,323,342 6,619,907,300
Less: Adjustment during the Year L,863,47 4,L64

I Closing Balance

LO"OZ Receivables form related parties : Tk. 3,286,577 '055

5,153,898,453 4,756,433,L36

I
This is made up as follows:

Particulars
Teletalk Bangladesh Limited 589,028 ,7 63 543,690 ,364
Govennment of the people's Repubiic of Bangladesh t63,043,64L 163,043 ,64L

t Bangladesh Submarine Cable Company Limited

Government ComPanies
Telephone Silpa Sangstha Limited
tsangladesh Cable ShilPa Limited
68
7 01,,',1,3 0,8
128,1,82,966
1,,2t2,25 L,4 5 B
492,939,3 59
7 65,02',1,,640
L28,r82,966
L,2L?,251,,458
492,939,359

I Total: , 3286,5??,055 305 L29,428

11.00 Advances, Deposit and Prepayments : Tk" L6,680,335'292

This is rnade up as foliows:

I Particulars.
Temporary advances
TA advances
Other advances 11'01
L,47 A,580
3,008,715
L6,675,855,997
T,468,L7B
3,008,715
!6,238,726,347

t Total:

11.01 Other Advances : Tk. L6,675,855'997

L6,680 335 292 L6243203240

I
This is made up as follows:

Particulars
Advances to supPliers L93,792,461 L93,792,461

I L1C margins, CDIVAT with Custom Houses L4,152,ZLL,724 L3,973,2L0,97,V

Advances income tax 2,?77 ,939,7 62 2,0\7 ,928,V 6A
0thers 51,9',1,2,051 53,794,L99
Total: , L6,6itV5,8559W L6,238,726,34V

I L2"00 Cash and cash equivalents : Tk" 27,47,7,067 '355

This is made up as follows:

I
Particulars
Cash in hand r5,7 49,87 4

Cash at banks 1,702,0L2,595

'ferrn deposits 2L,383,45 3,?06

I Cash in
Total:
transit

L3.00 Security deposits and others: Tk 3,440,807,188

27,4L7,067,355
3,653,7 47 ,293
26,754,962,968

I This is rnade up as follows:

Particulars

t
Deposits for eontributory works
Deduction from contractors and suppliers
Security money
Deposits frorn customers

I Security deposits
Advance received from related party
Total: 3,440,807,188 2,937,036,65L

I
I
I
 I

I Akm,rd Ial*sn &'Co..

f He HT,ERES &6' 0trl'f^tTlH.If: 5

I
14"00 Payable to contractors and suppliers: Tk. 8,673,384,009

I This is made up as follows.

Particulars

I Unpaid Ietters of credit-Project 8,673,384,009 8,67 3 ,38 4,0 0 9

Total: 8,673,384,009 8,673,384,009

15.00 VAT and duties payables: Tk. 6L6,035,538

I This is made up as follows:

Particulars
Customs and excise PaYable L6,472,942 L6,472,942

I VAT payable
TDS Payable
Others
60r,7 51,10 L
1,91,1,,222
(4,099,727)
558,524,608
L,2B2,LOO
(4,099,727)

I Total: 6L6,035,538 s72,L79,923

16"00 Employees emolument deductions ; Tk" 14,549,L32

This is made up as follows:

I Particulars
Employees amolurnent deductions
Total:
L4,549,L32
L4,549,L32
1,4,541,A96
L4,54L,096

l This refers to amount deducted from the employees during the year under review on account of Government
provident Fund which are yet to be deposited to the Government treasury. This amount is exclusive from the amount
of 279"78 crores appearing in Note - 6.

I 17.00 Provision for income tax: Tk. 543,942,830

This is made up as follows:
Particulars
488,62L,97 4 425,026,712

I
0pening balance
Less: Adjustment rnade during the year
Add: provision for the Year 55,320,855 63,595,262
Closing balance 543 942,830 4BB,6ZL 974

t 18.00 Provision for bad debts : Tk. 2,795,380,996

This is made up as follows:
Particulars
328,7 40,37 4

I
Local operators
Foreign operators 472,739,723
Private-normal ztL,7 47 ,t45
Closed number owing comPanies t,641,200,372
96,3L1.,246

I
Provision made for other receivables
795 380,996 v 50,738,859
19.00 Accrued expenses: Tk" 18,5L9,035,484

This is made up as follows:

t Particulars
0fficers salary and allowances
Staff salary and allowances
428,940
7,278,L06
428,944
LL,877,451,
7,049,439,0L4 1,0 5 3,492,872

I
General expenses
Audit fees 843,0 0 0 843,0 0 0

Accrued repairs & maintenance 285,7 51 363,440

Capacity charges & settlements 238,21.9,450 287,452,248

t I nterconnectio n & Settlements-Domestic

BTRC revenue share

BTRC frequency charge
25 8,0 23
15,3 64,551,1.66
82,201,5
,068

5 0
5 6].,0 55,7 7 4
L4,835,687,425
82,201,5 5 0
L04,075,270

I
Bangladesh Submarine Cable Company Ltd 89,199,697
Telephone Shilpa Shangstha-TSS 1,3,27 6,0',J,0 1,3,27 6,0L0
\7,L03,745,753 L6,950,753,980

I
t
I
I Ailrrx,rd Hnkcn & Cru
(}t.i f{T'Afdlr$
fi .{rtB:f Efr E.ts fte{

I
Government of Bangladesh/Quasi Government:

I Deposit payable on demand

Other Payahle-GOB
47,L52,342
18,50 L,67 L
47,152,342
18,50 1,671
Welfare fund 10 8,40 0 10 8,40 0

Contributory deposit L6,4L7,459 16,4L7,459

I Other payable-GoB- VAT on GOV"Tell.Bill 501,3 87 ,549
583,5 67,42L
501,387 ,549
583,5 67,421
Froject liabilities 831,722,310 83L,7223L4

I Total: 19,519,03 5,484 18,3 66,043,7L2

20.00 Share Capital: Tk. 1,800

I This is made up as follows:

Authorized share capital

150,000,000 shares of Taka 100 each
Total:
I Paid up share capital
L8 Shares ofTaka 100 each
Total:
I
& respective Represented by
Ministries/Ageucies
I Ministry of post and
Mr, Md. Nur ur Rahman 200 200
Telecom"
Ministry of Finance Mr. Md. Habibur Rahman 200 200
200
I Ministry of Information
Ministry of Post and
IvIrs. ]ahanara Pervin

Mr" Md. Azrzul Islam

200
200 200
Telecom"
Bangladesh Army, Dhaka 200
Brig. Gen Md. Ehsanul Kabir,afwc,psc 200

I Cantonment
ICAB Mr. Mohammed Forkan Uddin, FCA 200
200
200
200
BUET Dr" Satya Prasad Majumden
FBCCI Mr" Sujib Ranjan Dash 200 2AO

I Managing Director,BTCL Dr" Md. Rafiqul Matin

Total:
200
1,800
200
1,800
The entire amount of above paid up capital has been paid by the Government.
21"00 Equity reserve: Tk. 280,515,065,849
I This is made up as follows:
Particulars
Equify reserve 290,51.5,065,849 280,515,065,849

Total: 280,515,065,849 28A,515,065,849

This arnount represents difference of assets and liabilities of earstwhile Bangladesh Telegraph and Telephone Board
IBTTB] taken over by the company as on June 30,2008 according to the valuation carried out by M/S Rahman
Rahman Huq, an independent valuer"
22.04 Loans:
22.0t Long term portion: Tk. 35,L75,558,030

This is made up as follows:

Particulars
Foreign loans 22.01.01 4,309,343,5 84 4,309,343,584
Government loans 30,866,2L4,446 24,792,57 L,LBZ
Total: 35,175,558,q30 29,L0L 9L4,7 66

The foreign loan represents balances of principal including interest since 2008. During the year the rate of foreign
currency fluctuation has been reflected in the foreign Ioans.
I
I Alrmed Z.tken & Co-
CFTARTE R E D ACC OUt.{TA}{T5

I
22.0L.0L Foreign loans: Tk. 4,309,343,584

l This is made uP as follows:

Parliculars
PrinciPal
4,Lt8,459,529 4,1L8,459,529

I 19 0,884,0 5 6 190,884,056
Interest 4,309,38FM
4,309,38,584
Total:
22.02 Long-term loan-current portion: Tk' LL,645,62L,2Lq

I This is made uP as follows:

Particulars
Foreign loans 22.A2.0L - LL,645,62L,2L9 11,645,62t,2L9
11^,645,62L,2L9
tL,645,62L,2L9

t Total:

22.02.0L Foreign loans: Tk. 11,6 45,62L,2L9

This is made uP as follows:

t Particulars
PrinciPal
Interest
Total:
L0,720,980,934
924,640,285
LL,645,62L,2L9
10,720,980,934
924,640,285
LL,645,62L,2L9

I
23.00 Loans-term tiabilities to employees: Tk' 22,4LL,4L7
'82L
This is rnade uP as follows:
Particulars 97,LL',042
97,1,L5,042
Loan To EmPIoYess 16,271,453,163
23.0L t6,27',J.,453,L63
Pension Liabilities 6,242,849619
6,A42,849,6L6
Retirement benefit
Total: _ 22,4LL,W 22,6LL,4L7,82L

L}.OL Pension Liabilities : Tk L6,27L,453,L63

This is made uP as follows:

Particulars L,L7 4,568,000

t,L7 4,568,000
Long Term Pension PaYment- FamilY
15,09 6,8B 5,163 15,09 6,8B 5,163
Long Term Pension Payment- Pensioners
L6,2?L,453.\63 16,27L,453,L63
Total:

24.00 Government provident fund[GPF): Tk, 2,797,808'229

This is made uP as follows:

Particulars 2,797,808,229
2,797,808,229
0pening balance
Amount deducted during the year from employees
Closing balance
@ig,zzg : 2,797,808,229

TheaboverepresentsamountdeductedfromemployeesasGovernmentprovidentfundcontributionanddeposited
to the Government treasury.

25.00 Other long'term liabilities: Tk 42'424,L96,777

This is made uP as follows:

25.0L 42,364,4A0,165 42,364,400,L65

59,796,612 59,796,6L2
42,424,L96,777 42,424,L96J77

-
 I

i
-n-, Ahrtted Zakcn & Co.
l.-Z_, eHARrt REo A,ccot,tlrAt{r'

25.0L Impaired Asset: Tk. 42,364,400,165

This is made uP as follows:
Particulars
t,136,06A,627 L,135,06A,627
Salary Payments untill Pension abiliry
4,639,7 L6 4,639,7 L5
Demclition Cost-Tejgaon & Tongi
120 ,715,0 5 3 120 ,71,5,0 5 3
EMD, CB & Magneto exchange
4L,L02,984,7 69 41,,1.02,984,7 69
Universal Service Obligation
42364,!00,165 42,364,400 155
Total: ,

The above items are as per valuation report as on June 30, 2008'
Salary Payment Untill Pension ability
BTTB telegraph and telex
This is the accumulated cost attributible to the employees of discontinuing business of
telex service but still employes the related personnel who are yet
service.BTTB has discontinued their telegraph and
retired are underl employment, distributing the revenue invoices once in a month and
to be .These employees
performing some m?nual invoicing activities for internet customers'
Demolition Cost
Tejgaon & Tongi'
Estimated cost to be incurred to demolish the dilapidated stores and workshop building at
EMD,CB AND Magneto Exchange
Estimated loss of impaired asset to be incurred for the next 10 years'
Universal service Obligation
BTCL is required as a condition of its license to provide universal telephone service
throughout Bangladesh without
into account. Due to this unavoidable universal service 0bligation (USo), the
taking the economics ofthe economics
formed.Considering all operational
cost ofthis services is estimated for BTCL for next 20 years when this BTCL was
plant the majority of the
cost factors and depreciation of infrastructure for switches, transmission and outside
arrr."ntly at loss. To reflect an USO scenario and the estimated liabilities , the financial impact has been
exchanges
"."
calculated for the continuation of loss making operations with the network configuration
that BTCL has' The
provisions have been estimated for the loss making exchange for 20 years'

26.00 Revenue : Tk" 7,L64,t85,187

This is made uP as follows:
Particulars
I Telephone revenue
IGW Revenue
1,481,5V2,052
3,g73,834,7 54
L,920,607 ,A27
5,268,35L,202
342,225,996 218,504,L43
ICX Revenue for ISD Incomming calls
11,0 50,3 36 L9,980,919
ANS Revenue for ISD Incomming calls
I Revenue from caPacitY lease 221,228,290
1.,AgL,322,377
28,37 t,204
1,323,087,257
Internet and data services
42,7 40,180 87,95L,276
Value Added Services
27L,202 L,278,50L
I Telegraph services
Total: 7,L64,185,L87 8,868,13L,469

27.00 Cost of services: Tk' 3,488,115,L26

This is made uP as follows:
I Particulars
90 5,113,981 !,L95,620,242
Interconnection ant settlement
1,,733,657 ,1,05 2,494,862,LLg
BTRC revenue sharing
7 6L,283,663 L7 6,342,647

I CapacitY charges and settlements

BTRC license fees
Sales Commission
88,060,377 L26,919,085
4,442,2L8
3,488,LL5,t26 3,998,186,3LL
Total:

I 28.00 Administrative expenses; Tk. 4,t97,892'527

This is made uP as follows:
Particulars

I Staff cost
Officers salary and allowances 48'.J,,6L7,267,
2,57 5,265,657
348,558,777
2,27 0,925,L86
Staffs salary and allowances
373,586,501 340,982,792
Officers/ staffs benefits
1.49,460
I 0fficers/ staffs retairement payments
Sub-total: 3,430,469,425 2,960,6L6 2L5

I
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l Akm'sd Xnt*sn
.*te HT E fi E$ fi Cf
& f,s.
.&q.3::lr.{:}/Hr{T.$

t
I General expenses:
Office rent
Municipal tax
Land development tax
t4,37 4,122
27,358,542
L2,428,t94
I
15,298,287
24,508,828
11,,5 L7
349,942,986
,587

I Electricity & Power 367,809,386

26,043,926 26,025,0 5B
Water & sewerage
I4,89 5,3 89 L09,982,920
Gas & fuel charges
15,79 0,180 L7 ,72L,787
Stationery
95,36L L4L,8Z3

I Feriodicals & papers

Advertisennent
Business Promotional expenses
Advisory & consultancY expenses
2,053,L34
1,48 3,BB 8
23,678
2,292,L37
5 80,843
51,834
t,626

I
2,64L,799 4,80
Legal fees
517,500 517,500
Audit fees
5,1,7 7 ,6t9 7,7L5,753
Training-local
44,642,1,36 L5,15L,134
Bad & Doubdful debts

I
5,462,878 27 ,41,3,652
Uniform & liveries
6,489,814 16,801,,13 5
Salary of sweepers, carpenters and others
7,401,023 127,302,264
Dailly Laboun charges
2,418,432 3,L67 ,57 0
Conveyance

t
27,958,977 26,820,900
Postage bill
L,779,07 6 L,638,37 6
Entertainment
3,309 ,957 3,63L,04L
Registration & renewals
2L,203,9 3 0 25,545,t91
Travelling expenses

t
7,453 985,577
Washing & Cleaning ExPenses
15,3 27 ,584 20,246,862
Staff bus hiring charge
L26,248,004 125,083,728
Salary for Anser staff
95,547 704,365
Meeting expenses
669,L24

I
7A6,B9A
Directors' honourarium
348,435 843,9 45
Binding expenses
47,894 1.51.,5 60
0ffice electricity & other maintainance
287 ,71L 429,084
Computer billing charge
230,92!

t
24,490
Other duty/ tax
316,865 509,611.
Iltencil & Crokeries
3 31,548 7 08,264
Holiday bill exPenses
L5,77 L,B7B 24,336,48V
Miscellaneous
850,873 ,L7 4 992,879,752

I Sub-total;
Less: Recovery of expeses

Total;
[83,450,072J
7 67 ,423,L02
4,L97,892,527
(36,530,7 49)
956,3 49,002
3,9L6,965,2L7

I 29.00 Repairs and maintenance: Tk" 3 03,765,374

This is made uP as follows:

t
Farticulars
3,633,7 45 4,924,0L0
Operating building
28,023,872 27,531,,730
Admin"building
2L,62L,349 26,805,3 L6
Residentiai building
745,756,904 1,43,607 ,533

I
Apparatus and Plants
10,0 68,0 3B 1,0,790,546
IT equiPments
38,699,486 55,528,86V
Lines and wireless
L4,292,973 15,284,827
Cables

l 4,7 46,361 5,3 5 2,17I

Post,Mast and Aerials
L,244,622 L,790,2L7
Repairs and maintenance -furniture
1,572,913 1,85 0,7 L8
0ffice and equiPments
2!7,949 275,590
Electrical fitting and appliances
28,517,287 34,136,995

I
TransPort vehicles
5,37 5,877 11,800,603
Miscellineous
Total: 303,70587!_ ,339,6,79,L30

I
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I ,Aikm,sd tnlern,& f;o*
c1-t*BTEH6tI AC[CI

I
30.00 Non - operating income: Tk. 2,055,957,384

I This is made up as follows:

Particulars
'J.,947,857,448 L,641,237,5L4
Interest income from short term deposits (FDR)
I Bank Interest 46,626,567
67,473,37 0
37,192,687
52,654,7 t9
0ther income
Total: 2,055,957,384 L,73L,078,920

I 31.00 Contingentliability:

There is a contingent liability of the company for income tax to the same of Tk 221,950 for the assessment year 2012-

I 2013, BTCL has appleal to Appelatte Tribunal for review.

32.00 Managing Directors remuneration:

I During the year , the Managing Director of the company was paid Taka 14,43,792.

33.00 Number of emPloYees :

I The total number of employees of the company as at 30 June was as follows :

20L8-2019
Salary range 20t9-2020
7,725 8,37 4
Taka 3,000 or above
I Below Taka 3,000 NiII NiII

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I Bangladesh relecommunications company Limited

Schedule of Land

t Figures in Acre
Annexure -A-1

Non- Illegal Case

I SL.
No"
I

.T"R, [South)
Name of Region
Quantity of
Land
Mutation mutation Position Listed

4.2r04 4.2704
nF'P {'Internall

I 3
\
I^--: 7.197 6
L2.A479 7.97 45
5.8457
1,.L97 6
4.0v34
1.70 00
0.5500
7.5457
4

I \
I

a
3
10.880 0
5.8816
10.880 0
28,9106 6.971^0 0.5500

I GM. t"T.

1
)/-
f
A rr r f, rc'c'\ D ^ -i .l L -" r^n I'lh
ALTIVI1CO-f r f,ldr
alra
rLtrra,^ot L'rrcrr\
0.2857
1.0 15 7
0.2032 0.0825
r.0L57
\,
T\rnr\ /r--r- 1 /- ,'I^I^^"a
ULY IlIlL"f, \rur)rldll, utLo
hlr-rlza
O.5BBB

I
rY I\L I O.5BBB
5 DE I lnt l, u LLal d, !.-'rldr\d
"945 0
!q DE.
nlf rF
Trunk & STD, Tongi
uD L, /-\rdzrPur
^-itrr
rr
3.945 0
77.6100
3

77.6100 0.880 0

9.9900 9.990 0

I I, I angatl
rrfim
lJtr --:I

9 I 33.8350 33.8350
7 ub I, IVIYaensIIllIts,
B
10.65 31 10.65 31

t
9 0.8800
L37.9233 136.2363 1.6870

gM" \
Lr. I .K [E,45[' I

L.L780 L,L780

I
-
-l 1A Fn ,rf,rr \ n !"lhrlzr
!Grr\r' I
lllFHlllNl-l- lvl(Jt{lluoLat"J'
^^^L!.^--rr I

I 1.07s0 1.0750
0.2080 0.2080
0.0824 a.o4L2 0.0412
2,5434 o.o4L2 2.5022
:
11.6515 11.1600 0.4915
GM,DTR (West), Dhaka
11.1600 0.4915

I Sub Total 11.5515

l\ nl-^l
GMrU I K (Lenfralr, lrrrdnd
.T-
,r -!\ it:ll-L^+ l-'\halz-r I 0.6600 0.6600

I 45.0
80.4700
L26.1434
r34 42.86i34
s.3307
48.8541
2. 1500
75.1393
77.2893
L.7955
1.7955

I DG, Telecom Staff College, Gazipur

Sub Total
82.0550
82.0550
82.0s50
82.0550

t n trtt=l
FITD nhrlrr
^iiIYI,rJ
\f , l\, -r, l/r rr'ns
.

rrr,l /r.,+\ A ar-rharl Cto 33.9000 33.9000

1, uE-Y [trxL' faErl oL/ctLrl vu[
4,4TT2 4.4L!2
2 DEP (lnt) Agra0au 24.7350
L37.5300 L26.8400 10.6900

I 3
4
5
DET Rangamaty, Ctg
nFp f lnt) Nandankanon Ctg
lltP BayJeeo, LtB,
5.0999
2s620
s.0999

0.5700
2s620
0.5700 0.0500
1. L400
6 DtP Muraopur, LLB,

I 7
8
--

DE
^r r ^ -t
Db tsl0g &
rl--.l^^1,^^^A
tlc l\atluiJtlKdllurr,
I AgraOaO, Lr8
l^+a
\-LE) L7.4292
2L5.3406
32.3s96
13.9292
17 4.1576

31.3896
3.s000
41.1830
0.9700
0.9500
L24.9400

9 DET Comilla

I 'ffi.

I
I
t llfr,m,sd
EE
ffiksn &'ffu*

I SL.
i\In
Name of R.egion
Quantity of
Land
Mutation
6.4450
Non-
mutation
Illegal
Position
Case
Listed

10 DE Elc.Mtc. Comilla 6.4450

I LX
12
DET Noakhali
CS CTO Ctg"
32.6150
0.3712
0.1650
32.61.50
0.3000
0.1650
0.0712
1.5000

I5 DTO Comilla
429.8225 59.5462 L52.L750

I Sub Total 489.3687

GIVI,DTR (Khulna), Dhaka

37.4774 16.8 L7 4 20.6600
l" DET, Khulna
6.2712 6.27L2
T 7 DET, Khalishpur
23.0505 12.0505 11.0000
3 D ET, Jessore
22.3787 16342r 6.0366 3.3332
4 DET, Kushtia

I 5
6
DET, Faridpun
Superintendent, TS&W, GoPalgonj
2r.8100
11.5500
10.8100
1 1.5500
11.0000

-7
n DE, Wireless, MadariPtlr 14.5501 14.5501

I I DET, Jhinaidah
Sub Total
9.8500
L46.9379
9.8500
98.24L3 48.5956 3.3332

Director, TS&W, Bdrisal

I L

2
DET, Barisal
DET, Patuakhali
Sub Total
41.8998
2s "8900
67.7898
41.8998
25.8900
67.7898

I L
GMI,DT'R
DET, Sylhet
(sylhet), Dhaka
1.6648 1.6648
5.5700 2.7967
32.3L37 26.7 437
2 DEP, Sylhet

I 3
4
DE, Building Const" Hobigonj
DET, Mloulavi bazar
1s.3300
rL.2100
50.5185
13.3 200
10.0100
51.7385
2.0100
1.2000
8.7800 2.7967
Sub Total

I GM,DTR (Rajshahi), Dhaka

l- D ET Rajshai 3 L.2935 30.5 135 0.6800

DET Fabna 9.2768 9.2768

2

t 3

4
DET Sirajgon.!
DET Naogaon
10.3469
15.4800
2.6100
9.3469
15.4800
1.4600
1.0000

1.1500
5 DE, C&W, Bogra
Sub Total 69.0072 65.L772 2.8300

T GM,D TR (Rangpur), Dhaka

38.9000 38.0L00 0.8900 0.8900
! DET Rangpur
4.9700 4.9700
2 DE (E&B) RangPur
L9.2370 \9.2370
T 3 DET Dinajpur
L4.0180 14.0180
4 DET, Bogra
Sub Total 77.L250 76.2350 0.8900 0.8900

T GMl, Trans, Mohakhali, Dhaka

s.1 100 5. 1 100
L DE, VHF, Moghbazar, Dhaka
42.3600 42.3600
2 DE, Micro Mtc -L, Ramna, Dhaka

I 3
4
DE, Micro Mtc -2, Mohakhg]! ryaka
DE C&W, Ctg
231..1642
32.2200
23L.L642
32.2200
DE, C&W, Borisal 36.1420 36.1420
5
Sub Total 346.9962 345.9962
T GM, OTR, Dhaka
121..4400 98.1000 23.3400
1 DE, Satellite, Betbunia
8.6000
I 2 DE, Upazila Telecom, Dhaka 8.6000
130.0400 98.1000 31.9400

GM, Upazila Telecom, Dhaka

I
I
I
t fr-h,mtdrukgn &- .Co''
CT{ABYffiffiEE}.88fi]B 5

I SL.
No,
Name of Region
Quantity of
Land
Mutation
7.0670
Non-
mutation
Illegal
Position
Case
Listed

t L DE 89 Radio Link, CTG 7.0670

2 DE 89 Radio Link, Comilla 8.1000 8.1000
Sub Total 15.1570 15.1670

t Director, TTC, Dhaka

1

2
DE, TTC, Dhaka
DE, TTC, Khulna
5.9148
16.0030
26.2000
16.0030
23.1568
5.9148

3.0432

t
3 Co ntro er, Telegraph Store, Tejgaon.q!aka
I

Sub Total 48.L178 39.1598 9.9580

Grand Total t,847.2563 1,595.6845 250.5818 L62.4204

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