The finance ministry recently released a report assessing the performance of 10 state-owned enterprises (SOEs) and autonomous entities, pinpointing their strengths and weaknesses.

According to the evaluation conducted under the Strengthening Public Financial Management Programme to Enable Service Delivery (SPFMS), the Bangladesh Overseas Employees and Services Ltd (BOESL) and Bangladesh Shipping Corporation were highlighted as top performers, with BOESL scoring the highest at 3.63 marks out of 4, while the Bangladesh Forest Industries Development Corporation (BFIDC) received the lowest rating of 2.28.

Under the SPFMS initiative, which aims to enhance financial and operational management, the evaluation process focused on four key indexes: business strategy, operational efficiency, financial indicators, and institutional governance. Notably, the Bridges Authority and Chattogram Port Authority secured the third and fourth positions, respectively, in terms of overall performance.

Among the identified weaknesses, the evaluation revealed that some SOEs, including Bangladesh Petroleum Corporation (BPC) and Bangladesh Power Development Board (BPDB), faced challenges in governance and financial efficiency. In particular, BPC was flagged as the most inefficient SOE in terms of governance, while BPDB incurred significant operating and net losses.

To address these issues, the evaluation recommended various measures, including cost reduction efforts, compliance with international accounting standards, and adoption of modern technologies. For instance, the study suggested initiatives such as implementing enterprise resource planning (ERP) software for BPDB and promoting eco-tourism for Bangladesh Parjatan Corporation.

Moreover, the evaluation emphasized the importance of adopting appropriate business plans and modern technologies to enhance the operational efficiency and financial performance of SOEs like BFIDC and Khulna Development Authority (KDA). It also underscored the need for improving revenue collection processes and financial reporting standards across all evaluated entities to ensure transparency and accountability.

Overall, the evaluation aims to enhance the efficiency, transparency, and accountability of SOEs and autonomous bodies, thereby promoting good governance and sustainable development.