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Cabinet clears draft BIWTC law

Published : Tuesday, 10 September, 2019 at 12:00 AM  Count : 338

The Cabinet on Monday gave its nod in principle to the draft of 'Bangladesh Inland Water Transport Corporation (BIWTC) Act' updating the existing BIWTC Ordinance promulgated with a Presidential order issued in 1972.
The approval was given at the regular meeting of Cabinet held at the Prime Minister's Office (PMO) in Tejgaon with Prime Minister Sheikh Hasina in the chair.
Later, Cabinet Secretary Mohammad Shafiul Alam briefed media at Secretariat about the outcomes of the Cabinet meeting.
He said the draft was given approval in principle. It would be sent to the law ministry for its vetting (opinion). Incorporating necessary suggestions of the law ministry, the draft will be finalised and sent to the Cabinet for its final approval.
"If the Cabinet gives final approval to the draft, it would be sent to the parliament for passage."
Shafiul Alam said the draft law suggested the government increase the authorized capital and the paid-up capital to Tk 500 crore, which was Tk 5.00 crore in the existing ordinance.
As the financial capacity of the authority has become stronger, the authority increased its capital.
According to the proposed law, the corporation will have a five-member governing board comprising a chairman and four members. Of the members, a member, who will be a joint secretary level officer of the shipping ministry, will be a part-timer.
The chairman will chair the meeting of the board normally. In absence of the chair, his nominee will chair the meeting. In absence of the both, the chair of the meeting will be decided with the consensus of the meeting.
The presence of at least three board members will be considered as the quorum of the meeting. But, the chairman will decide about the number of meeting in a year.
The board will submit an annual report of the authority to the government within next six months of the previous year.

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