Foreign shipping lines facing difficulties remitting funds
Bangladesh's trade with other countries may suffer as foreign shipping lines are facing difficulties in remitting foreign currencies from the country because of a dollar crisis, speakers said yesterday.
The amount due to foreign shipping lines is more than $150 million, speakers said at a discussion on Bangladesh's shipping sector and its way forward.
The Daily Ittefaq organised the discussion at the National Press Club.
Iqbal Ali Shimul, senior vice-president of the Bangladesh Shipping Agents Association, said shipping lines have been unable to send foreign currencies to their main offices over the last few months because of the dollar crisis.
Kabir Ahmed, president of the Bangladesh Freight Forwarders Association, said licencing was a major problem in the shipping lines as the shippers face unnecessary problems from the authorities.
At the event, State Minister for Shipping Khalid Mahmud Chowdhury said the number of vessels with the Bangladesh flag has grown to 90 from 61 as business was growing.
M Shahjahan, chairman of the Chittagong Port Authority, said the port was ready to be used as a transhipment hub as its capacity has increased.
Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, said the container terminal's capacity needs to be improved if the country wants to export $100 billion worth of goods by 2030.
Sayadul Islam, a special correspondent of the Ittefaq, moderated the discussion.