State ready for BTTB sale next year, says report

The government is prepared to sell off shares in former monopoly fixed line operator Bangladesh Telegraph and Telephone Board (BTTB) by next year, reports local newspaper The Daily Star, quoting finance advisor Mirza Azizul Islam. ‘The government has already decided to corporatise BTTB, and the organisation might be ready to offload its shares after completing all formalities to become a corporate body,’ Azizul said at the inauguration of the Dhaka Stock Exchange Training Academy. However, the advisor said the process of corporatising BTTB must be completed before the shares can be sold. ‘The offloading of BTTB's shares will take a little time as the valuation of its assets is time-consuming,’ Azizul said, adding that a World Bank consultant team is working on a value assessment of BTTB. He also said the government is getting ready to offload shares in several state-owned enterprises, including oil and gas companies, banks and infrastructure companies, to enhance the supply of securities to the market.