MR Amin, Chittagong

Standard Asiatic Oil Company Limited (SAOCL), a subsidiary of Bangladesh Petroleum Corporation (BPC) which was once crippled due to corruption and irregularities has now turned around at the initiatives taken by the present Chief Executive Officer (CEO) Mani Lal Das.

He has been playing the key role in saving the company. The business is constantly expanding due to his effective steps .

The amount of profit is also increasing. The investment has returned from 9 crores to 150 crores in a few years, the CEO hopes to be more active if he can bring back the embezzled money. But recently some unscrupulous officials and employees of Bangladesh Petroleum Corporation (BPC) have been providing complete false and fabricated information out of jealousy and for nefarious purposes.

A vested circle is involved in various conspiracies with this institution. Those who once brought this institution to the brink of destruction are trying to loot it again. In continuation of this, various newspapers are trying to publish news with false information about the CEO of the organization.

It is learnt that the Standard Asiatic Oil Company Limited (SAOCL) was a dead organisation after looting of Tk 316 crore through the irregularities and corruption of the former General Manager Mohammad Shahed and his associates. But the current CEO Moni Lal Das's skill and discretion have brought back it to life from life support, which is a joint ownership of Bangladesh Petroleum Corporation (BPC).

It is learnt that on March 2021, after the irregularities of the Shahed Syndicate were disclosed , 124 workers were dismissed. Later in November of that year, BPC took the initiative to revive SAOCL which was dying due to irregularities. Moni Lal Das, a discretionary officer in charge of BPC's General Manager (Finance), has been given the charge of Chief Executive Officer (CEO) . He started working with only Tk 9 crore 17 lakh . He and his team tried to turn around to work with sincerity despite great financial crisis.

There was no business and there was not enough money to do business, but he did not lose courage and started importing lube oil little by little. Slowly the capital started increasing. The scope of work also increased. Started marketing, started selling diesel and furnace oil. In 2021, where 109 workers were laid off due to lack of money, 127 workers were hired again within a year. Currently, the capital of this moribund institution has exceeded 150 crore rupees.

Currently, the company is selling a large amount of diesel and furnace oil. In addition, Lubzone brand engine oil, gear oil, CNG engine oil, motorcycle, industrial gear oil, machine oil, air compressor oil, international quality modern grease has also gained a good reputation.

In this regard, the CEO Moni Lal Das said, the company was almost dead but it has turned around again with the collective efforts and sincerity of all of us.

After one year of giving me charge, we currently have a capital of Tk 150 crore , we are continuing with this capital. We hope that the bad name of this institution will be fixed and the reputation will come back. And for this, everyone's sincere cooperation is needed. But there is a vested interest who cannot bear the progress of SAOCL, they are plotting against me in various ways. Some fake news has been published with wrong information.

I am saddened and saddened by the information published in the news recently about a case involving a loss of thousands of taka in my name. Actually I have no such irregularities or cases. The circle is trying to blame me for what happened before I took over. Journalists are the conscience of the nation, so before publishing any news, information should be verified.

Regarding the money embezzled through past irregularities and corruption, he said, currently we have a monthly expenditure of 1 crore 35 lakh for the salaries and related expenses of our employees. We are continuing the legal battle to recover the looted money. A few cases are ongoing. 28 lakhs of 2 lifts and dues of sale of bitumen have been recovered. If the rest of the embezzled money can be brought back, it will become more operational, becoming a profitable enterprise.

It is noted that the two lifts purchased for the company at a cost of Tk 28 lakh were used in the National Polytechnic College of Khulshi Police Station in the city. Two crore 87 lakh 71 thousand taka was embezzled from the sale of bitumen.

In two cases, according to the decision of the Parishad meeting, the money was brought back by filing a case. Out of the 316 crore rupees of the government's half-owned oil company, Mohammad Shahed, former general manager of SAOCIL allegedly embezzled Tk 150 crore and his associates Tk 166 crore . Efforts to bring back these money are continuing.