Titas gas company made a record in revenue collection in 2008-09 fiscal year, exceeding actual sales, because of an improved management and strong drive for revenue collection. The state-owned organisation also achieved a notable drop in systems loss.
Breaking its age-old image as a corrupt and irregular organisation, Titas collected Tk 5,248 crore revenue against gas sales of Tk 5,159 crore in the last fiscal year, recovering Tk 89 crore of cumulative arrears from clients.
With its vigilance on pilferage strengthened, systems loss also came down to a record low of 0.93 percent.
The loss was 3.39 percent in 2007-08 and 5.26 percent in 2006-07, said Titas Gas Transmission and Distribution Company Ltd in a press release yesterday. The loss was 7 percent in 2004-05.
The average systems loss during the first half of 2008-09 fiscal year was 1.28 percent, which dropped to 0.56 percent in the second half.
Such financial performance prompted the company to hold a special meeting yesterday. Its Board Chairman and energy Secretary Mohammad Mohsin was present at the meeting as chief guest and Petrobangla Chairman Maj (retd) M Muktadir Ali as special guest. Titas Managing Director M Abdul Aziz Khan and other high officials were present at the meeting.
The company said it sold 14,133 million cubic metres (mmcm) of gas in the last fiscal year against a target of 13,302mmcm. This fetched the company Tk 5,159 crore against a target of Tk 5,130 crore.
The cumulative arrears of the company also reduced to Tk 1,214 crore, which is equivalent to the average bills of nearly three months. This arrear was Tk 1,417 crore in 2007-08. This means, the arrears have reduced by Tk 203 crore.
The Titas board expressed sincere apology for gas supply problems in some areas for low pressure.
Company records show that during the last fiscal year the Titas Revenue Control Department collected highest Tk 1,882 crore, which was 110 percent of the target, while the collection in Narayanganj zone where tendency of gas pilferage is the highest was 95 percent of the target.
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