Biman Corp (amend) Ordn promulgated
Staff Correspondent
President Iajuddin Ahmed yesterday promulgated the Bangladesh Biman Corporation (Amendment) Ordinance to pave the way for turning the national flag carrier into a public limited company, sources said. "It's a major development towards making the Biman Bangladesh Airlines a public limited company," said its Managing Director Dr MA Momen. "Now the approval of the revised Memorandum of Association and Articles of Association of Biman by the council of advisers is required," he said, adding that "We hope they would give the nod shortly." The approval would enable the Biman to apply to the Registrar of Joint Stock Companies & Firms for registration to become a public limited company. Meanwhile, all the preparations for making the Biman a public limited company by the end of this month are almost complete, sources said. "The values of the liabilities and assets of Biman have already been determined," they added. On May 19, the council of advisers approved the proposal to make the Biman a public limited company by June. Later, the council asked the authorities to bring some changes to the Memorandum of Association (rules and regulations of Biman) and Articles of Association (terms and conditions) and set the July deadline. Biman is being made a public limited company in order to make it a profitable commercial venture. The workforce of Biman has already come down to 2,937 from 3,800 under the voluntary retirement scheme.
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