National Tea Company Limited () is a
Bangladeshi
Bangladeshis ( bn, বাংলাদেশী ) are the citizens of Bangladesh, a South Asian country centered on the transnational historical region of Bengal along the eponymous bay.
Bangladeshi citizenship was formed in 1971, when the ...
state owned tea company based in Dhaka.
Sheikh Kabir Hossain
Sheikh Kabir Hossain () is a Bangladeshi businessman and a member of the Sheikh–Wazed family. He is the President of Bangladesh Insurance Association. He is the President of Association of Private Universities of Bangladesh.
Early life
Hossain ...
, a relative of Prime Minister
Sheikh Hasina, is the chairman of the company. Mr. Syed Shahriyar Ahsan is a Director of the company. Syed is the Managing Director of Sadharan Bima Corporation of Bangladesh (SBC). He was nominated as a Director of the Company from Sadharan Bima Corporation in October 1, 2016. Chowdhury Nafeez Sarafat, chairman of
Padma Bank, is a shareholder director of the company representing Finex Software Limited.
History
National Tea Company was established in
East Pakistan by the
Adamjee Group of Companies. After the liberation of Bangladesh, the Adamjee family left for
Karachi leaving all their East Pakistani properties behind. The National Tea Company was nationalized by the government of Bangladesh after liberation. The modern-day National Tea Company Limited was established in 1978 with the government of Bangladesh being the majority shareholder. It is the first tea company in Bangladesh jointly owned by the government and the public.
The company started with Patrakhola Tea Estate, Kurmah Tea Estate, Champarai Tea Estate, Madanmohanpur Tea Estate, Madabpur Tea Estate, Jagadishpur Tea Estate, Teliapara Tea Estate, Chundeecherra Tea Estate, and Lackatoorah Tea Estate.
The tea estates were taken over by the government after the end of
Bangladesh Liberation War
The Bangladesh Liberation War ( bn, মুক্তিযুদ্ধ, , also known as the Bangladesh War of Independence, or simply the Liberation War in Bangladesh) was a revolution and War, armed conflict sparked by the rise of the Benga ...
and placed under the Bangladesh Tea Industry Management Committee of the
Bangladesh Tea Board
The Bangladesh Tea Board or BTB, an autonomous body responsible for creating laws regarding tea production, controlling and encouraging the production of tea and is located in Nasirabad, Chittagong, Bangladesh. It is under the Ministry of Commer ...
.
Afazuddin Fakir
Afazuddin Fakir is a Bangladesh Nationalist Party politician and the former Member of Parliament of Tangail-2.
Career
Fakir was the member of the National committee. He had sent a letter to President of Pakistan, Yahya Khan, asking him to deescal ...
was appointed the first chairman of the company.
The National Tea Company Limited was listed on the
Dhaka Stock Exchange in 1979.
In September 1982, the Government of Bangladesh took over Parkul Tea Estate, Premnagar Tea Estate, and Bejoya Tea Estate and placed them under the National Tea Company Limited.
The company produces an average of 5.2 million kilograms of tea.
The company has more than 12 thousand employees and also produces rubber.
Many of the workers are from ethnic minorities in Bangladesh.
In 2009, ''
The Daily Star'' reported that the National Tea Company Limited saw production decline every year due to corruption and mismanagement.
On 23 June 2019, Sheikh Kabir Hossain was appointed chairman of the National Tea Company Limited replacing Munshi Shafiul Haque.
In the fiscal year 2020, the company saw profits per share decline by 142 percent. In October 2021,
Bangladesh Securities and Exchange Commission
The Bangladesh Securities and Exchange Commission (BSEC) is the regulator of the capital market of Bangladesh, comprising Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). The commission is a statutory body and attached to the Mini ...
appointed two independent directors to the company following allegation of violation of security laws.
In February 2022, the National Tea Company Limited sought permission from Bangladesh Securities and Exchange Commission to increase the paid up capital of the company by issuing shares.
The commission appointed special auditors to investigate for embezzlement in the company and to protect the interests of the shareholders.
List of chairmen
References
1978 establishments in Bangladesh
Organisations based in Dhaka
Government-owned companies of Bangladesh
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