March 28, 2024, 6:22 pm


Staff Correspondent

Published:
2023-01-11 09:13:37 BdST

Govt suffers Tk 1,382cr loss as Proton syndicate steals 2.51 lakh mt fertilisers


Proton Traders Ltd, a private firm entrusted to supply the government-imported fertilisers to distribution channels and godowns, has allegedly misappropriated  2,51,000 metric tons from the consignment in two years.

The company allegedly misappropriated 1,79,000 metric tons of fertiliser of Bangladesh Agricultural Development Corporation (BADC) and 72,000 tons of Bangladesh Chemical Industries Corporation (BCIC).

Sources said the estimated value of the missing fertiliser stands at Tk 1,382 crore. 

Kamrul Ashraf Khan Poton, lawmaker from Narsingdi-2 constituency, is the owner of the Proton Traders. He is also Chairman of Bangladesh Fertiliser Association (BFA). The country’s fertiliser business has been under his grip for long 26 years.

Although he committed irregularities in the fertiliser supply in the past, nobody dares to raise voice. The officials of the ministry concerned are afraid of him. They are bound to hide the corruption of Proton for mysterious reasons. Following a newspaper report, truth started to unveil and the High Court has issued a rule on the irregularities in his fertiliser supply. The Anti-Corruption Commission (ACC) has moved to investigate the allegation.

Talking to press, Abdul Halim, former general manager of BADC, has confirmed the fertiliser going missing.

However, Shafikul Islam, former joint director of BADC posted in Chattogram Port, said there is no accurate estimate as to how much ferliser went missing.

“Apart from Chattogram, the fertiliser released from Mongla Port has not been properly sent to godowns and distribution channels by Proton Traders.”

Wishing not to be quoted, some other officials of the BADC confirmed authenticity of the incident.

It is learnt that four types of fertilisers are usually imported by Bangladesh namely Urea, TSP, DAP, and MoP. Of these, BCIC under the Ministry of Industries imports urea and BADC under the Ministry of Agriculture imports three others. Lat year, the country’s demand for total fertiliser fell 59,34,000mt including 26.50 lakh tons of urea, 7.50 lakh tons of TSP, 9 lakh tons of DAP and 8.50 lakh tons of MoP. For meeting majority of the fertiliser, the country depends on import which is exclusively controlled by Proton syndicate.

Sources claimed that Proton Traders has been entrusted with carrying BADC fertilizers and 1,78,700mt  went missing. The fertiliser includes 18,700 tons of TSP,  30,000 tons of DAP and 1,30,000 tons of AoP which were part of consignment procured under FY 2020-21. The purchasing value of the fertiliser was Tk 800 crore. Deducting the government’s subsidy, the price stood at Tk250 crore.

The missing fertiliser accounts for 80,000 tons released from Chattogram port and 98,000 tons from Mongla port.

Proton traders was supposed to complete delivery of these fertiliser by May last year. Despite frequent letters by BADC, it is not responding.

It is learnt that Proton sold the fertilisers in the open market instead of sending those of the distribution points. The officials concerned of the BADC remain silent spectators. Some officials of the organisation are allegedly involved.

Abdullah Sazzad, Chairman of the BADC, could not be contacted over phone for a comment.

BCIC investigation shows that Proton Traders misappropriated 71,916 tons of government urea causing a loss of Tk 582 crore to the national exchequer. On December 20, the organisation sent a letter to the Ministry of Industries seeking permission to initiate legal action against the supplier, but here is no response to the letter yet.

In latest development on December 15, BCIC restricted Proton Traders from participating in any of its activities.

In FY 2021-22, the government signed agreements with three foreign suppliers namely SABIC of Saudi Arabia, Munajat of Qatar and Ferny Grove of UAE.

The government imported 3, 93,244 tons of fertiliser for that fiscal year but godowns received 3,21,328 tons leaving 71,916 tons missing.

Sources claimed that Proton Traders sold the fertiliser to various businessmen. The government suffered a loss of Tk 582 crore including purchasing money Tk 554.23 crore and other costs Tk 27.71 crore.

Rejecting the claim, Proton Traders managing director Md Sahadat Hossain said the company has been doing business with the government since 1996 and a vested quarter is spreading lies out of jealousy.

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.


Popular Article from National