State-run shipping lines to have 50 percent stake in overseas consignments
January 28th, 2019 at 5:07 pm
State-run shipping lines to have 50 percent stake in overseas consignments

Dhaka – The government has approved a draft legislation seeking 50 per cent mandatory transportation of goods to be traded in terms of export and import to and from Bangladesh, an official said on Monday.

The approval to the draft of Bangladesh Flag Carrying Vessels (Protection) Act, 2019 came at the weekly meeting of the cabinet headed by Prime Minister Sheikh Hasina in Dhaka to enhance Bangladesh Shipping Corporation’s stake in overseas shipment.

Cabinet Secretary Md. Shafiul Alam told reporters after the meeting that the proposed law suggested a mandatory provision under which the BSC ship would carry at least 50 percent of goods to be exported and imported.

“It will promote the state-owned shipping lines’ state in the overseas businesses,” Alam said.

The new law will replace Bangladesh Flag Vessels (protection) Ordinance of 1982 under which BSC ocean going fleet’s stake in import-export shipments was 40 percent.

The new law was also required as the Supreme Court earlier declared null and void all ordinances which were framed by military regimes in the past.

The meeting also finalized the draft of “Bangladesh EPZ Labour Law, 2019” which earlier enforced through promulgation of an ordinance.

The ordinance came into effect on January 15, 2019 after the cabinet on December 3, 2018 gave approval in principle to the draft allowing trade union activities in Export Processing Zones.

The draft will now be placed in parliament for approval.

The law allows the EPZ workers to enforce work stoppage and factory lock-outs while it also accommodated some ILO recommendations and several observations of Canada and the United States to make it more labour friendly, according to the draft.