SPCBL to install more printing machines soon

Dhaka,  Mon,  25 September 2017
Published : 07 Aug 2017, 22:08:11

SPCBL to install more printing machines soon

FE Report

The Security Printing Corporation (Bangladesh) Ltd (SPCBL) is set to install eight more printing machines soon for increasing its capacity to print banknotes, chequebooks and other government's security-related printing materials.

Four of these eight state-of-the-art machines would come into operation by the fiscal year 2017-18. The cost of these machines is Tk 4.50 billion.

Besides, a move is underway to import four more machines, according to the SPCBL's data.   

Five new machines have already been installed for printing other security products (OSPs) which are now running.

Currently, the Bangladesh Bank (BB) provided the ageing printing press with Tk 11.50 billion to buy necessary machinery for increasing its capacity and construct a new building.

Earlier, SPCBL was limping with over three-decade-old machinery and shortage of manpower. The situation has left from the state entity, a source said.

Besides, the ageing printing machine could not print a required volume of banknotes and more than 50 per cent of its orders every year.

Currently, the capacity of the SPCBL has increased largely. The central bank has extended all kinds of necessary support to SPCBL to make it time-befitting, he added.

An initiative is also underway to employ required manpower as inadequate manpower has adversely affected the operational activities of the agency.

Presently, the entity is meeting required demand of respective clients properly, he also said.

The BB has set a target to produce 1,500 million pieces of currency and banknotes of different denominations in the current fiscal year (FY). Some 11831.42 million OSPs would be printed in the current fiscal year, according to the data.

The authorised and paid-up capital of SPCBL has been raised to Tk 15 billion and Tk 12 billion from Tk 1.0 billion and Tk 500 million respectively.

The SPCBL earned some Tk 1.85 billion as net profits in the FY 2015-16, up by Tk 885 million from the FY 2014-15, according to the entity.  

Editor : A.H.M Moazzem Hossain
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