Nat’l satellite communication firm on way

The cabinet today approved a proposal to form Communication Satellite Company in Bangladesh, as the country prepares to launch its first commercial satellite into space.

The company will be formed with capital investment of Tk 5,000 crore, Cabinet Secretary M Shafiul Alam told reporters after today’s regular cabinet meeting.

Its share capital will be Tk 500 crore and share price Tk 10.

An 11-member committee will be formed for the company and secretary of Information Communication Technology (ICT) division will be chairman of its board of directors.  

Bangladesh’s first ever commercial satellite Bangabandhu-1 is almost ready. The government has projected its launch into space by December this year or January next.

Prime Minister Sheikh Hasina chaired the weekly cabinet meeting.

Source: thedailystar