Cabinet approves the draft of "Bangladesh Shipping Corporation Law, 2016"

The approval was given at the regular cabinet meeting held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.

After the meeting, Cabinet Secretary Muhammad Shafiul Alam briefed reporters.

He said the original law was enacted through a Presidential Order on February 5 in 1970, and the law was later amended a number of times during the civil and military governments.

Alam said the draft Bangladesh Shipping Corporation Law, 2016 was placed before the cabinet today as a "composite law" incorporating some new clauses as well as translating the original law into Bangla as per a directive of the Supreme Court that had earlier declared all martial law regime ordinances and amendments illegal.

The cabinet secretary said the draft law has been formulated keeping intact almost all of the sections of the existing law on operation and management of Bangladesh Shipping Corporation (BSC) side by side with updating some clauses.

About structure of the management of BSC, he said, there will be a seven to 13-member Board of Directors with the Minister-in-Charge of the Ministry of Shipping as its chairman.

Besides, the secretary of the shipping ministry or divisions dealing with shipping, a joint secretary of the Finance Division, the managing director and executive directors of the BSC as well as one of the representatives from the shareholders will be members of the board.

The responsibility of operation and management of the BSC, he said, would be bestowed upon the board.

According to the draft law, the headquarters of the BSC will be located in Chittagong, but with prior approval of the government, it could be shifted to another place wherever necessary and appropriate.

About the function of the corporation, the cabinet secretary said it would provide safe and efficient shipping services on international routes and carry out all forms of activities connected with or ancillary to shipping.

It will also take over movable or immovable assets or properties of any corporation engaged in such activities, upon a notification being published by the government in the official gazette.

Without prejudice to the generality of the foregoing provisions, he said, the corporation shall, in particular, have power to acquire, charter, hold or dispose of ships or crafts.

The corporation will also have the power to undertake the repairs, overhaul, manufacture, reconditioning or assembly of ships, vessels and other vehicles.

Besides, it will also establish institutes or make other arrangements for the instruction and training of persons engaged or likely to be engaged in any activities connected with or ancillary to shipping, he said.

The corporation will also have the authority to acquire, hold or dispose of any property, whether movable or immovable.

As a listed organisation of the Securities and Exchange Commission, the cabinet secretary said, the amount of the authorised capital of the BSC would be Taka 400 core, while its paid up capital would be Tk 350 crore.

Alam said the government will have 51 percent shares of the subscribed capital, and the rest of the shares will be offered for public subscription with the value of Tk 100 (one hundred) for each share.

The cabinet secretary said the second quarterly (April-June) report 2016 on the implementation of the cabinet decisions was placed before the cabinet today.

Alam said from April 1, 2016 to June 30, 2016, some 11 cabinet meetings took place where some 92 decisions were taken with the number of implemented decisions were 65 having a success rate of 70.65 percent.

During this period, some 27 decisions remained under implementation which was 29.35 percent of the overall decisions. Besides, some two policies or strategies were approved during that period alongside nine agreements or Memorandums of Understanding (MoUs) while 20 bills were passed in parliament.

He also said that from April 1, 2015 to June 30, 2015, some 13 cabinet meetings were held where some 68 decisions were undertaken with the number or executed decisions notching at 44 which was 64.71 percent of the undertaken decisions.
Besides, some 24 decisions remained under implementation during that period which was 35.29 percent of the overall approved decisions. Besides, some two policies or strategies were approved during that period alongside nine agreements or MoUs while three bills were passed in parliament during that period.

The cabinet secretary said the participation of a Bangladesh delegation led by the shipping minister in the 10th founding anniversary of "the Regional Cooperation Agreement on Combating Piracy and Armed Robbery Against Ships in Asia (ReCAAP) Information Sharing Centre" held in Singapore on March 18 last was apprised.

He said the participation of a Bangladesh delegation headed by the law, justice and parliamentary affairs minister in the "7th Session of the Implementation Review Group of the United Nations Convention Against Corruption" held in Vienna on June 20-24 was also apprised.

Ministers and state ministers concerned attended the meeting, while secretaries concerned were present.