The Cabinet has approved the draft of Bangladesh Flag Carrying Vessels (Protection) Act, 2019 enhancing state-run Bangladesh Shipping Corporation’s (BSC) stake in overseas shipment.
Cabinet Secretary Md. Shafiul Alam revealed the matter at a press briefing at Bangladesh Secretariat on Monday.
The Cabinet Secretary said, “The cabinet gave the approval in principle in its weekly meeting with Prime Minister Sheikh Hasina in the chair in the PMO.”
“The provision will promote the state owned Bangladesh Shipping Corporation,” the cabinet secretary said.
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.
The new law will replace Bangladesh Flag Vessels (protection) Ordinance, 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 previous military regimes.
Moreover, the draft of “Bangladesh EPZ Labour Law, 2019”, which earlier was enforced since January 15, 2019 through promulgation of an ordinance, also got the final green light from the cabinet on Monday.