Dhaka, Aug. 24 -- The state-owned pharmaceutical company, Essential Drugs Company Limited (EDCL), which was earlier plagued by irregularities, corruption, and mismanagement for a long time, has started to turn around.

The company had been causing losses of billions of taka in the past because of purchasing raw materials at high prices in a non-transparent process through syndicated tenders, unusable machinery, and excess manpower.

But today the landscape has changed dramatically in the past few months. The institution is now reporting relief after emerging from the depths of corruption.

The new Managing Director (MD) Samad Mridha took charge and made it clear that there would be no room for corruption and inefficient manpower in the or...