Dhaka Electric Supply Company Limited
 |
|
| Public | |
| Traded as | : DESCO |
| Industry | Electricity Distribution |
| Founded | (November 3, 1996) in Dhaka, Bangladesh |
| Headquarters | Nikunja-2, Dhaka, Bangladesh |
|
Area served
|
Dhaka City Corporation |
| Revenue | 2013:  US$ 311.1279 million |
2014:  US$ 14.508 million |
|
| 2013: US$ 10.349 million |
|
| Total assets | 2013: US$ 435.479 million |
| Total equity | 2013: US$ 138.471 million |
|
Number of employees
|
1573 (2013) |
| Parent | Bangladesh Ministry of Power, Energy and Mineral Resources |
| Website | desco |
Dhaka Electric Supply Company Limited, commonly known as DESCO, is a Public Limited Company which distributes electricity at the Northern parts of Dhaka City Corporation area. The company was created on November 1996 under the Companies Act 1994 as a Public Limited Company. The company is now under the Power Division of the Bangladesh Ministry of Power, Energy and Mineral Resources and serving a total number of 604,304 consumers as of 31 December 2013.
In 1972, the first Government of Bangladesh, in an effort to speed up the investment in the sector issued an ordinance, creating the Bangladesh Power Development Board (BPDB). BPDB, from 1972 to 1995, has increased the generation capacity in the country from 475 MW to 2818 MW, and the length of its 230 kV and 132 kV transmission networks to 419 km and 2469 km respectively. For the first time in December 1982, the eastern and western halves of the country were electrically connected through the commissioning of double circuit 230 kV transmission line across the Jamuna River energized at 132 kV between Ishurdi and Tongi called the first East-West Inter-connector. Thus 230 kV and 132 kV inter-ties linked the distribution networks of all major towns and cities had been through.
But from 1986 onwards, the commercial performance of the BPDB deteriorated and in 1991, BPDB's average gross systems loss was about 42 percent and accounts receivables in excess of 6.5 months of billing. This performance was not found reasonable to the covenants agreed by the Government and BPDB with the Asian Development Bank and the World Bank.
So in 1990, another ordinance was issued, which was subsequently enacted as an Act transferring the 132 kV, 33 kV transmission and distribution system in the Greater Dhaka Area including the Metropolitan City to a newly created Government agency called the Dhaka Electric Supply Authority (DESA). This was done to lessen the administrative burden on BPDB's management by relieving it of the burden of managing about 50 percent of the energy distribution of the entire country.
With the economy performing very well during 1992-95, the demand for electricity grew substantially. Faced with a grim possibility of serious electricity shortages during the next few years and to enable the sector to be financially self-sustaining and also attract private capital, the cabinet approved in principle, the inter-ministerial committee report named "Power Sector Reforms in Bangladesh (PSRB)".
...
Wikipedia