National Tea Company Limited

National Tea Company Limited (Bengali: ন্যাশনাল টি কোম্পানি লিমিটেড) is a Bangladeshi state owned tea company based in Dhaka. Sheikh Kabir Hossain, a relative of Prime Minister Sheikh Hasina, is the chairman of the company.[1] 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 01, 2016.[2] Chowdhury Nafeez Sarafat, chairman of Padma Bank, is a shareholder director of the company representing Finex Software Limited.[3][4]

National Tea Company Limited
Formation1978
HeadquartersDhaka, Bangladesh
Region served
Bangladesh
Official language
Bengali
Websitentclbd.org

History

National Tea Company Limited was established in 1978 with the government of Bangladesh being the majority shareholder.[5] It is the first tea company in Bangladesh jointly owned by the government and the public.[6] 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.[6] The tea estates were taken over by the government after the end of Bangladesh Liberation War and placed under the Bangladesh Tea Industry Management Committee of the Bangladesh Tea Board.[6] Afazuddin Fakir was appointed the first chairman of the company.[7]

The National Tea Company Limited was listed on the Dhaka Stock Exchange in 1979.[3]

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.[6] The company produces an average of 5.2 million kilograms of tea.[6] The company has more than 12 thousand employees and also produces rubber.[6] Many of the workers are from ethnic minorities in Bangladesh.[8]

In 2009, The Daily Star reported that the National Tea Company Limited saw production decline every year due to corruption and mismanagement.[9]

On 23 June 2019, Sheikh Kabir Hossain was appointed chairman of the National Tea Company Limited replacing Munshi Shafiul Haque.[7] In the fiscal year 2020, the company saw profits per share decline by 142 percent.[10] In October 2021, Bangladesh Securities and Exchange Commission appointed two independent directors to the company following allegation of violation of security laws.[11]

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.[3] The commission appointed special auditors to investigate for embezzlement in the company and to protect the interests of the shareholders.[12]

List of chairmen
Sl no Name From To Reference
1 Afaz Uddin Fakir 21 December 1979 29 December 1980 [7]
2 Nazmul Hassan Zahed 25 February 1981 26 December 1981 [7]
3 Mohammad Hossain 25 February 1982 26 December 1982 [7]
4 A. M. Sanaul Huq 16 January 1983 18 December 1985 [7]
5 Zakir Khan Chowdhury 13 January 1986 18 August 1988 [7]
6 S. M. Uddin 8 September 1988 31 May 1990 [7]
7 Mohammad Ali 4 June 1990 30 April 1995 [7]
8 Mohd. A. Harris Chowdhury 2 May 1995 3 May 1997 [7]
9 M. A. Shahid 4 May 1997 21 April 1999 [7]
10 Enamul Haq Mustafa Shaheed 6 May 1999 5 February 2002 [7]
11 Mohd. A. Harris Chowdhury 6 February 2002 2 May 2007 [7]
12 Md. Sirajul Islam 3 May 2007 24 June 2009 [7]
13 M. A. Shahid 25 June 2009 24 May 2013 [7]
14 A. T. M. Murtozaa Reza Chowdhury 25 May 2013 10 November 2014 [7]
15 A. K. Abdul Mubin 11 November 2014 21 December 2016 [7]
16 Munshi Shafiul Haque 14 June 2017 17 March 2019 [7]
17 Sheikh Kabir Hossain 23 June 2019 [7]

References
  1. "Profiles". ntclbd.org. Retrieved 2022-03-29.
  2. "Profiles". ntclbd.org. Retrieved 2022-11-20.
  3. "National Tea plans to raise paid-up capital by issuing right shares". The Business Standard. 2022-02-20. Retrieved 2022-03-29.
  4. "Padma Bank chair Nafeez enters into NTC board". New Age. Retrieved 2022-03-29.
  5. "National Tea Company Limited Company Profile - Bangladesh | Financials & Key Executives | EMIS". www.emis.com. Retrieved 2022-03-29.
  6. "Abous Us". ntclbd.org. Retrieved 2022-03-29.
  7. "List of Chairman". ntclbd.org. Retrieved 2022-03-29.
  8. Das, Uttam Kumar (2009-02-13). "Ethnic diversities". The Daily Star. Retrieved 2022-03-29.
  9. Mirdha, Refayet Ullah (2009-06-03). "Tea growers struggle to keep up supply". The Daily Star. Retrieved 2022-03-29.
  10. "National Tea reports higher loss per share". Dhaka Tribune. 2020-07-19. Retrieved 2022-03-29.
  11. "BSEC appoints two independent directors to National Tea Company". Business Insider Bangladesh. Retrieved 2022-03-29.
  12. "Special auditor to review National Tea financials". The Business Standard. 2022-03-28. Retrieved 2022-03-29.


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