CHITTAGONG, July 2 (BSS): The TSP Complex Ltd, an enterprise of the Bangladesh Chemical Industries Corporation (BCIC), made an all-time high profit in its nearly four-decade history amounting to Tk 497.7 million (49.77 crore) during fiscal year 2008- 2009 end on June 30 this year.

Officials of the TSP Complex Ltd informed this at a meeting with Industries Minister Dilip Barua here Thursday. They also apprised the minister of the overall state of the plant and gave several suggestions for its further development.

They said that both the productivity and profit of this complex, the country's only triple super phosphate (TSP) and gypsum fertilizer and the largest sulfuric acid producing industry, could be increased further if modern machines were installed replacing the old ones.

The minister also held separate meetings with the leaders of TSP Complex CBA and Officers Association during his visit to the plant site at Patenga Industrial belt this morning and called upon them to work devotedly for continuing the current trend of performance.

Assuring them of all possible support from the government, the minister asked both officials and employees of the plant to further raise their efficiency and at the same time adapt to modern technology for the desired growth.

According to the officials, the TSP Complex could avoid a big financial loss of Taka about 86 crore following a bold and timely directive from the industries minister for scrapping an international purchase order okayed by the immediate past caretaker government.

The order was given to procure sulphur, an important raw material of TSP fertilizer, at an exorbitant rate of US dollar 807 per tonnes when the price of this chemical substance was declining rapidly in the international market, they said.

Speaking on the occasion, Dilip Barua said the government of Prime Minister Sheikh Hasina has been working relentlessly to make the country industrially rich by patronizing local industry as well as accelerating agricultural production.

"The present government wants to see a fair competition between public and private sectors to keep the market stable and balanced," he said adding that a conducive atmosphere with transparency and accountability was now created in the public sector enterprises to the greater benefit of all concerned.

"It is now your duty to work with sincerity and honesty to free the public sector enterprises from the stigma of poor management and pilferage culture," he said describing the present government as worker-friendly, committed to lead the country towards coveted progress and prosperity.