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Bangladesh Telecommunications Company Limited

(BrcL)

DIRECTORS' REPORT
201 9-2020

05 October 2020
 DIRECTORS' REPORT

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Dear Shareholders

On behalf of the Board of Directors of Bangladesh Telecommunications Company Limited

(BTCL), we have the pleasure to welcome you to the 12'h Annual General Meeting of BTCL
and present the Annual Report of the Company comprising of audited Balance Sheet, Profit
and Loss Account, Cash Flow Statement, and Statement of Changes in Equity as on 30 June,
2020.

2. Background of the Company

The Telegraph branch under the Posts and Telegraph Department was created in 1853 in the
then British India and was regulated afterward under the Telegraph Act of 1885. Pakistan
Telegraph and Telephone Department was created in 1962. After the independence of the
People's Republic of Bangladesh in 1971, Bangladesh Telegraph and Telephone Department
was set up under the Ministry of Posts and Telecommunications. This was converteci into a
corporate body named 'Telegraph and Telephone Board' by promulgation of Telegraph and
Telephone Board Ordinance, 1975.In pursuance of Ordinance No. XII of 1979, promulgated
on 24'h February 1979, Telegraph and Telephone Board was converted to "Bangladesh
Telegraph and Telephone Board (BTTB)" as a Government Board. In pursuance of
"Bangladesh Telegraph and Telephone Board (Amendment) ordinance, 2008" dated 01 June,
2008, (Later on Bangladesh Telegraph and Telephone Board (Amendment) Act 2009) a
company namely "Bangladesh Telecommunications Company Limited (BTCL)" was
incorporated and registered in Bangiadesh under the Companies Act, 1994 as a public limited
company. The entire undertaking BTTB was transferred to BTCL through a Deed of
Agreement signed between Ministry of Posts & Telecommunications and BTCL on 30 June,
2008. From 01 July 2008, BTCL started its joumey as a state-owned company.

3. Management & Manpower

BTCL inherited an Organogram along with human resources from erstwhile BTTB since its
beginning on 01 July, 2008 and have been carrying out its operational activities with these
resources. In course of time, government has formed the 'Department of Telecommunications
(DOT)' and retained all the BTTB employees to DOT. Afterwards, government sent 6,536
employees from DOT to BTCL on deputation on 25 June,2015 to continue operations of
BTCL. At present, total3,249 employees (Class I+II+III+IV: 2?2+522+2170+285) from DOT
are working on deputation at BTCL.
However, BTCL Board of Directors has approved its Company Organogram, which has been
implemented on 01 July 2018. Total 8,703 posts have been created in the approved
Organogram and BTCL is operating now under the new organogram.

4. Operating Licenses
BTCL has eight licenses in its portfolio to provide different types of telecommunications
services. As a legacy telecom operator, BTCL once provided International connectivity through
Satellite Earth Station and Submarine Cable. It has been continuing its domestic and
International voice communication service, Data and Internet Service, Interconnection and
Transmission bandwidth service. BTCL had constructed nationwide transmission network
through deploying different generations of microwave technology and afterwards grad:ually
replaced those with firlly optical fiber-based Dense Wavelength Division Multiplexing
(DWDM) technology. However, in present telecom licensing regime, BTCL owns the
following 8 (eight) licenses. It is to be noted that, Broadband Wireless Access License could not
be operational due to cancelation ofthe related proJect.

1) PSTN license.
2) International Gateway (IGIV) service operator license.
3) Interconnection Exchange (ICX) service operator license.
4) International Internet Gateway (IIG) service operator license.
5) Internet Service Provider (ISP) Iicense.
6) ITC (Intemational Terrestrial Cable) license.
7) NTTN (National Telecommunications Transmission Network) license.
8) Broadband Wireless Access license.

5. BTCL Network and Systems

Transmission Network for Nationwide Communication: BTCL has a robust nationwide
optical fiber-based transmission network up toUpazlla and Union Parishad level. This network
is facilitating intemational connectivity through Submarine Cable and International Terrestrial
Cable (ITC) for voice, data and Internet service in one end and connectivity to the exchanges,
data and intemet node throughout the country in the other end.

Using this vast optical backbone of BTCL, video conferences of our Honorable Prime Minister
are regularly being held smoothly to reduce the communication gap between the top
administration and grass root level offices. This nationwide transmission nefwork of BTCL is
mostly consists of Optical Fiber with few exceptions of radio links linking some remote
Upazlla.
BTCL provides backhaul connectivity for submarine landing station of Bangladesh at Cox's
Bazar throrgh a high capacity of 240Gb/s which has redundant optical fiber transmission link
between Dhaka (Moghbazar station of BTCL) and Cox's Bazar. BTCL is also providing

Directors' Report20l9-2020 I Page 2 of 11

backhaul connectivity for 2"d submarine landing station at Kuakata through a high capacity of
200Gb/s which has redundant optic fiber transmission link between Dhaka and Kuakata. The
redundancy of the links has been provisioned through Optical Fiber of the Power Grid
Company of Bangladesh.

BTCL provides ITC Connectivity from Benapole to Dhaka through its 100 Gbps optical fiber
link.
The total length of the underground optical frber cable in BTCL's Transmission network was
around 6,000 km in 2015. BTCL has recently completed several projects through which all
districts have been brought under Optical fiber cable network. Bhola is now connected with
optical frber via PGCB optical fiber and also with Microwave System. Almost all the UpaztTa
and 1,216 Union Parishads are connected with BTCL optical fiber. By the end of year 2019-
2020, the total length of underground Optical {tber cable is around 30,100 km which will be
increased in the coming years.

IP (Internet Protocol) and Data Network: BTCL has developed a strong IP network covering
all districts and most of the Upazlll,a headquarters. Using its strong IP network, BTCL is
providing Leased Line Internet and VPN (Virtual Private Network) data service to its
customers. BTCL's customer base is ranging from Govemment offices to Private offices and
International Internet Gateway (IIG) operators to Intemet Service Providers (ISP). Besides, for
individual customers, BTCL is providing retail bandwidth through its legacy copper network
using ADSL (Asynchronous Digital Subscriber Line) technology in all the district headquarters
and in few Upazllla headquarters and Growth Centers. In some parts of Dhaka and
Chattogram, BTCL has installed optical fiber-based GPON (Gigabit Optical Passive Network)
to meet customers increasing bandwidth demand. GPON customer-base is increasing day-by-
day.

BTCL is providing Intemet services to Govemment established Union Tathya Kendra free of
cost and other customers on demand rn 1216 Uruon Parishad. Thus, BTCL is providing
significant support to meet the goal of the Government to reach intemet to the door-steps of
common people of Bangladesh.

Voice Communication Network: ANS Gateways/IMS of BTCL provides voice

communication services throughout the country by landline phones having 784local fixed-
phone Exchanges installed at all Districts,Upazl,a and some Growth Centers. The exchanges
are connected to six ANS gateways installed atDhaka, Chattogram, Khulna, Bogtra, Barishal
and Sylhet. The ANS gateways of BTCL are connected to Interconnection Exchange (ICX)
installed at six places namely, Sher-e-Bangla Nagar @haka), Mohakhali (Dhaka), Chattogram,
Khulna, Bogura and Sylhet. The other licensed voice operators e.g. mobile operators and
IPTSP operators are also connected to these ICXs so that inter-operator voice traffic can be
easily exchanged. The Intemational Gateway (IGW) for exchanging international call is
installed at Mohakhali (Dhaka).

Directors' Report20l9-2020 I Page 3 of l1

 6. Review of Activities and Perfonnance of the year
The year 2019-2020 was a year of many challenges, ups and downs with respect to telecom
regulatory, Covidl9 pandemic and corporate intemal affairs. During the second quarter, there
were massive changes in top management in BTCL. BTCL got a new Managing Director with
new five Deputy Managing Directors. The top management of BTCL had been manned,with a
group of energetic BCS (Telecom) officers. The team immediately started activities to restore
customer confidence as the first step and rebuild its image. The top management had so far
taken various efforts to revive BTCL in a new form. The main objectives of the initiatives were
focusing mainly on improving image of BTCL by repairing the shabby image prevalent in all
sector, increasing landline customers ultimately through slowing down the falling rate,
improving customer care, utilizing resources in its best way andgaining customer confidence.

In the initiative, 'Telesheba' app has been launched commercially by the ICT Advisor to the
Honorable Prime Minister to facilitate submission of cornplaints, bill query and bill payment
for telephone service. The app was developed by in-house engineers and has been on trial
within BTCL for long time. The app has been upgraded further under the guidance of new
management to inciude submission of application, issuing demand note by BTCL to applicant
and payment through available mobile financial services. These features have significantly
reduced the frequency of visiting BTCL office for getting a connection to nearly zero. The app
has become very popular within very short time and received positive respcnses in the print and
social media. Withdrawal of telephone line rent, unlimited BTCL-BTCL voice call, free
telephone connection and other revision in tariff were implemented from 2nd, qtarter of the '
year.

As part of rebuilding image and establishing communication with the present and prospective
subscribers, marketing in digital platform has been started from 1" January 2020. The initiative
has been putting impact to slower the drop rate of landline.

The pandernic of Covidl9 has setback the progress of BTCL as in other sectors. From 26
March 2020, all offices were declared closed by the govemment to combat the pandemic. After
extending the holidays several times, from 31 ltlay 2020 activities were allowed to srart in
limited scale maintaining the health precautions. During the 66-day holiday period, normal
business activities were almost suspended. Telecommunication service berng considered as
essential service had to be continued. BTCL employees successfully handled the pandemic
period. It is unfortunate for us that four BTCL employees died of COVID-l9 during this
period. On behalf of the Board of Directors, we deeply mourn on the death of the said
employees.

During this period, 2,759 complaints were received through Telesheba App and 100% were
resolved. Rectification rate of complaints received through NOC was above 98%. The business
activities, operational and maintenance activities and pro,iect implementation activities were
also ongoing during that period. Due to upsuge of bandwidth demand, BTCL could sale 28.5
Gbps bandwidth during that period. BTCL Board of Directors appreciates the BTCL
employees' endeavor to keep the sen jce rrp and running taking the health risk.

Directors' Report20lg-2}2Ll I PaS:c 4 of I I

 Setback in revenue from international voice call: Revenue from international incoming
voice
call through International Gateway (IGW) has always been the dominant source of total
revenue of BTCL. Even during 2018-2019,59% of the total revenue came from international
incoming voice traffic. From February 2020, the minimum international incoming call rate
has
been reduced to 0.6 cent from 1.75 cent per minute. This reduction has significantly
impacted
the revenue of BTCL. The total revenue has dropped and the share of IGW revenue in total
revenue reduced to 43o/o.

Revenue Share Payment to BTRC: During this year, BTCL has paid total Tk. l10.4g crore to
Bangladesh Telecommunication Regulatory Commission (BTRC) as share of revenue
according to licensing condition for different service.

Introduction of Company Pay Scale: BTCL Board of Directors allowed to implement

Company Pay Scale for Company employees from I Ju,ly 2019. This has created extra burden
on the financial position of BTCL.

Payment of Retirement Benefit to BTTB Employees: BTCL has been paying retirement
benefits from its own eamings to ex-BTTB retired employees since its inception of working
as
Company. During 2019-2020, BTCL paid Tk. 20.00 crore to Chief Accounts and Finance
Officer (Telegraph and Telephone) under Controller General of Accounts (CGA) Offrce.

Visibility of BTCL: The visibility of BTCL in the print, electronic and social media has been
significantly increased during the year, especially during the 2"d half of the year. Meetings with
stakeholders and media people, the first ever live public hearing of the Managing Director
in
BTCL official Facebook, participation of BTCL in Digital Bangladesh Mela 2020, Ekushey
Boimela 2020 etc. have largely contributed to enhanced visibility with positive responses than
ever before.

Corporate Social Responsibility: BTCL continued its social responsibility through funding
about 60 institutions-Schools, Colleges, Madrasas, Mosques and Mandirs established
on BTCL
land throughout the country. This year BTCL contributed to introduce Digital Classroom
at
primary level in one of its Schools and distributed Mobile Tab to the srudents of one
High
School with support from its Technology Partner Huawei Technologies (Bangladesh) Ltd.
Moreover, BTCL installed a toll-free telephone at Arrival Lounge in Hazrat Shahjalal
Intemational Airport to facilitate incoming passengers for communication with their contacts.
Two free 100 Mbps connectivity to National Press Club and 50 Mbps connectivity to_ Dhaka
Reporters Unity has been established. During Covid-l9 pandemic general holidays, BTCL
delivered health protection accessories to Central Medical Stores Depot (CMSD) and Mugda
General Hospital in association with Posts and Telecommunication Division with support from
its Technology Partner ZTE Corporation, China.

7. DevelopmentActivities
7.1 GoB Financed Projects

a) 'Installation of Optical Fiber Cable Network in all Government College/University and

flainilg Institutes' Project: This project has been completed in June, 2020. As a result of the

Directors' Report20lg-2020 I Page 5 of 11

implementation of this project, 591 government college/university and Training Institutes have
been connected to BTCL optical fiber cable network. This project has ensured high-speed
broadband service in those college/university and institutes. Project implementation period
was from July 2018 to June 2020 (t:xro years) and estimated cost was BDT 44.98 crore (Taka
Forry four crore and Ninety eight lac).

b) 'Switching and Transmission Network Development for Strengthening Digital

Connectivity' Project: This project is under implementation. Project implementation period is
from January 2019 to June 2021(two and a half years) and estimated cost is BDT 155.38 crore
(Taka One hundred Fifty five crore and Thirty eight lac). The scope of work of this project is to
install ANS (Access Network System) Gateway, IGW (International Gateway), IOS (Inter-
operator Sw"itch), Transmission Nodes with DWDM equipment and Inter-operator Billing
System.

c) 'Installation ofTelecommunications Network at Mirsharai Economic Zone in

Chattogram' Project: The estimated cost of the project is BDT 61.90 crore (Taka Sixty one
crore and Ninety lac). Project implementation period is from July 20L9 to December 2O2l
(two and ahalf years). Under the scope of work of this project, Mirsharai Economic zone in
Chattogram will be connected to BTCL OFC network and facilitated with modern telecom
services including high-speed broadband internet servlce.

7 .2 Social obligation Fund (SOF) Financed Projects

'Extending Telecommunication Facilities @roadband WiFil for the Disadvantaged People

of Haor, Baor and Remote Areas.(Breaking Digital Divide)' Project: The project is under
implementation. Project implementation period is from Aprll2020 to March 2023 (three years)
and estimated cost is BDT BDT 459.85 crore (Taka Four hundred Fifty nine crore and Eighty
five lac). Under the scope of work of this project, around 13,000 broadband WiFi hotspors will
be installed at 1,600 Union Parishad and other remotest areas with necessary auxiliary facilities
to provide broadband seryices to the disadvantagedpeople in those areas.

7.3 Foreign Aided Projects

'Moderrization of Telecommunication Network for Digital Connectivity' Project: The

estimated cost of this project is BDT 2,573.39 crore (Two thousand five hundred seventy three
crore and Thirty nine lakh) [Project Aid BDT 1,817.28 crore + GoB BDT 756.11 crore]. The
project is under implementation. Project implementation period was originally from J,ily 2017
to June 2020 (three years). A revised DPP (RDPP) of the project has been sent to the Posts and
Telecommunications Division for approval of ECNEC with proposal to extend the project
implementation period for two more years and increase project cost to BDT 3,374.94 crore
(Taka Three thousand three hundred fourteen crore and Ninety four lac). Under this project,
BTCL's PSTN system will be completely replaced by IMS (IP Multimedia Subsystem) based

Directors' Repofi20l9-2020 I Page 6 of 11

 telephone system having GPON (Gigabit Passive Optical Network) technology covering all
b
districts with necessary Transmission and IP network.

8. Future \Mork Plan of BTCL

a) To strengthen the country's digital connectivity, DPP of a project named Upgradation and
Enhancement of BTCL's IP Network" has been sent to Planning Commission. Project
implementation period is two years and estimated cost is BDT 949.50 crore. Under the scope
of the project, IP equipment will be installed atUpazila and Union level. IIG Gateway and
hosting platform will also be installed under this proJect.

b) DPP of a project named "Upgradation of BTCL's existing Optical Fiber Cable Network
and Conversion to Ring Type Network" has been sent to Planning Commission. Project
implementation period is three years and estimated cost is BD'l 1,265.13 crore. Under the
scope of work of this project, high quality transmission facilities up to the rural areas for easy
and reliable access to broadband system will be installed to make ICT facilities affordable to all
crtlzens.

c) Recastingof DPP of a project named 'Establishment of telecommunication network in

economic zones (Phase 1)' is under process. Project implementation period is two and half
years and estimated cost is BDT 101.90 crore (Taka One hundred one crore and Ninety lac).
Under the scope of the project modern exchange and IP equipment for providing telephone
and high speed intemet services, high capacity optical fiber transmission link, Construction of
telecom buildings etc. will be established at Jamalpur, Shrihatta, Sabrang, Naf and Sonadia
economlc zone.

9. Board of Directors:

The composition of the Board of Directors who held office as on 30 June 2020 was as
below:
SL Name of Directors Designation
1 Mr. Md. Nur-Ur-Rahman
Divisior, Ministry of Post, i Chairman
Telecommunications and Information i

, 4 ; Professor Dr. Satya Prasad i Vice Chancellor, of i Director

Bangladesh University I
i

r Majumder
; rMajumder I Engineering & Technology (BUET), Dhaka.
i
lEngineering&Technology(BUET),Dhaka. i
i

5 Mr. Md. Kamruzzamar Additional Secretary (Telecom), Posts &

5Mr.Md.Kamruzzama1AdditionalSecretary(Te1ecom),Posts&.Director ' Director
Telecommunications Division, Ministry of . '

Directors' Report20l9-2020 I Page 7 of 11

 Posts, Telecommunications and Information
Technology, Bangladesh Secret arrat, Dhaka.
6 Mr. Md.

7 Brtg. Gen. Md. Ehsanul Director, SIB, DGFI (Directorate General of Director
Kabir, afwc, psc Forces Intelli gefice.), Dhaka Cantonment,
Dhaka.
8

9 Mr. Md. Musleh Uddin Joint Chief, Post &Telecommunications 1

Director
Divisior, Ministry of Post,
Telecommunications and Information
Technology, B angladesh S ecret aruat, Dhaka.

i ICAB,CA Bhaban, 100 Kazr Nazrul Islam i

i Avenu e, Dhaka- 1215

.

11 i Dr. Md. Rafiqul Matin Man agtngDirector Director

Bangladesh Telecommunications Comparry i

Limited. f

10. Changes in the Board

During the period under review, there were a number of changes in the Board. Mr. Md. Nur-
ur-Rahman joined the Board as Chairman in place of Mr. Ashoke Kumar Biswas in December
2019, Brig. Gen. Md. Ehsanul Kabir afiuc, psc joined the Board in place of Brig. Gen. Md.
Mustafa Kamal in March 2020,Mr. Md. Forkan Uddin FCA joined the Board in place of Mr.
Mahmudul Hasan Khusru FCA in March 2020 and Ms. Jahanara Pervin joined the Board in
place of Mr. Mohammad Azharul Hoque in May 2020. The Board welcomes Brig. Gen. Md.
Ehsanul Kabir afinc, psc, Mr. Md. Forkan Uddin FCA and Ms. Jahanara Pervin to the Board
and looks forward to their enriching contribution to the governance of the Company.

11. Directors' Appointment & Re-Appointment

The following Directors of the Board will retire at this Annual General Meeting as per the
Articles of Association of the Company. They are, however, eligible for re-appointment:
1. Mr. Md. Habibur Rahman, Director, Board of Directors, BTCL and Additional
Secretary, Finance Division, Ministry of Finance

2. Professor Dr. Satya Prasad Majumder, Director, Board of Directors, BTCL and Vice-
Chancellor, Bangladesh University of Engineering and Technology.

3. Mr. Sujib Raqjan Dash, Director, Board of Directors, BTCL and Director, FBCCI

Directors' Report20l9-2020 I Page 8 of 11

 12. Board Meetings
Total 07 (Seven) Board meetings were held during 2019-2020, where about 88 agenda on
different issues were discussed by the Board of Directors and necessary directives were given by
the Board to run the company smoothly. The 116 AGM of the Shareholders of the Company
was held on 28 November 2079.

13. New Managing Director

Dr. Md. Rafiqul Matin was appointed as the Managing Director of BTCL. He joined on 3rd
November 2019 inplace of Mr.Md. Aziru,Llslam, Acting Managing Director.

14. Appointment of Auditors

As per the Companies Act L994 and the Articles of Association of BTCL, the statutory auditors
of the Company, M,/s Ahmed Zaker & Co., Chartered Accountants, shall rctire at this AGM.
The Firm has been selected through tendering process having the lowest offered fee. The Board
recommends their appointment for the year 2020-2021 and continuation till the next AGM at
the fee of BDT 4,75,000 (except VAT)

15. Statement of Profit or Loss arad Other Comprehensive Income

During the FY 2019 - 2020 ended on 30 June, 2020, the Company has registered gross revenue
of Tk. 716.42 crore from operating its activities, whichwas Tk. 886.81 croreat the FY 2018-
2019. Abrief result is shown hereunder:

Partic-ulars 30 June,2020 30 June,2019

Revenue 7 ,164,185,197 8,868, 13 I ,469
Non-operaturrg income 2,055,957 ,394 r,73L,079,920
Total Revenue 9 ,220,142,571 10,599,210,399

Cost of services 3,488, 1 1 5,126 3,998, 186,3 11

Administrative expenses 4,197,892,527 3,916,965 ,217

Repairs and Maintenance 303 ,7 65 ,37 4 339,679, 130
Bank Charges 6,264,947 10,156,421
Foreign Exch ange (Loss) 345,079,353
Total Expenditure 7,996,A37 ,975 8,610,066,432
EBITDA 1,,224,104,596 r,989,1,43,957
Less: Depreciation (4,476,724,702) (5,607 ,312,397)
Net Loss Before Tax (3, 192,020,106) (3,618, I 68,441)
Less: Income tax expense (55 ,320,955) (63,595,262)

Directors' Report2019-2020 I Page 9 of 11

 Net Loss After Tax (3,247 ,340,961) (3,681 ,7 63 ,703)
Caprtal garn reahzed/Unreahzed (loss) from
3,099,496 (2,369,5 55)
investment in shares
Total comprehensive inc ome / (Ioss)

Major items of expenses include direct operating costs and Depreciation on Assets which were
Tk. 799.60 Crore and Tk. 441.62 Crore respectively. General network operation expenses and
Asset procurement cost remained in proportion to the installation of new capital machineries.
Unfair competition in the nationpl and intemational business reduced BTCL's EBITDA
(earnings before Interest, Tax, Depreciation Allowance) to Tk.122.4L crore in the financial year
2019-2020 from Tk. 198.91 crore of the previous year.

The books of accounts show a net loss before Tax amounting Tk. 319.20 crore. But due to
income tax provision on gross revenue, profit or loss and other comprehensive income
statement shows a loss figure of Tk. 324.42 crore after capital gain from Investment in
INMARSAT Plc share. Net profit would be attained in the next years if the planned investment
(short terms and long terms) can be atanged in due time.

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Directors' Repoft 2019-2020 I Page l0 of 11

Fairness of the Accounting Polices: It is the responsibility of the Directors as per the
provisions of the Companies Act 1994, to prepare financial statements for each year. The
financial statements and other financial information included in this report fairly present all
material aspects, the financial condition, results of operations, cash flows and the changes in
equity of the Company for t}:re year under review.

The Company has used appropriate accounting policies in preparation of these financial
statements supported by reasonable and prudent judgment and assumptions as necessary.
International Accounting Standards (IAS), as applicable in Bangladesh has been followed in
preparation of these financial statements in compliance to the relevant accounting principles.

16. Conclusion
The Company realizes its potential to progress ar.d create values for the stakeholders and
subscribers by steadily pursuing a coherent strategy. There is clearly further potential for
enhanced value creation at our operations and in growth of investment opportunities. We have
a strong technical human resource team with dedicated and hard-working people lookrng for
new service opportunities and putting them in action.

The Company also acknowledges its responsibilities towards the stakeholders and subscribers
by providing quality services thereby adopting the norms of transparent corporate governance.

The Board of Directors of the Company would like to put on record the appreciation of the
cooperation and support that were received from the Posts and Telecommunications Division,
Bangladesh Telecommunications Regulatory Commission (BTRC), Department of
Telecommunications (DOT), Teletalk Bangladesh Ltd, Bangladesh Submarine Cable Co. Ltd
(BSCCL), Telephone Shilpa Shangstha Ltd. (TSS), Bangladesh Cable ShilpaLtd. (BCS), other
govemment organizations and private telecom operators & entities. The Directors also express
gratitude to its management and employees of all levels whose dedication andhard work made
it possible to elevate the Company to the stage at which it has put its standing today.

For and on behalf of the Board of Directors:

Md. Habibrffiahman Dr. Md. Rafiqul Matin

Director, B ourYrf Directors Managing Director
BTCL BTCL

Directors' Report 20 19-2020 I Page I I of 1 I