Bill placed at JS to open 49pc BRTC shares to public
A bill was placed in parliament yesterday, aimed at offering 49 percent shares of the state-owned Bangladesh Road Transport Corporation (BRTC) to the share market, and modernising the transport sector of the country.
Road Transport and Bridges Minister Obaidul Quader placed the bill -- titled “Bangladesh Road Transport Corporation Bill 2020” -- in the House, which was sent to the parliamentary standing committee on the respective ministry for scrutiny. The committee was asked to submit its report to the House within 14 working days.
In the bill, a new provision has been incorporated among the functions of BRTC. Under it, BRTC will have to render transport services during situations like strike, blockade, national emergency or disaster, Biswa Ijtema, freedom fighters’ rally and emergency need of the state.
The bill was placed to update an ordinance promulgated in 1961, which included a provision to offload BRTC shares to the capital market.
The authorised capital of BRTC will be Tk 1,000 crore, which will be divided into 100 crore general shares with Tk 10 being the base price per share. The authorised capital of the corporation under the existing law is Tk 6 crore.
The paid-up capital of the corporation is Tk 3 crore in the existing law. Its new amount will be fixed after BRTC’s annual general meeting or special general meeting. Its paid-up capital cannot exceed the authorised capital.
Authorised capital is the amount for which a company can issue shares to shareholders, while paid-up capital is the amount received from shareholders for the shares allotted to them.
PRESS ENJOYING FULL FREEDOM: INFO MINISTER
Newspaper and electronic media are enjoying full freedom, while the government has also ensured free flow of information to enhance national development, Information Minister Hasan Mahmud told the House yesterday.
In reply to a query from lawmaker Afzal Hossain, he said approval was given to set up 44 private television channels, 22 FM radios and 33 community radios as part of the “media-friendly government’s moderate broadcast policy.”
In a written answer, Mahmud said the government is not interfering in the freedom of newspapers and transmission of news independently in electronic media.
The minister said so far 3,597 online media has applied for registration since the process began in December 2015.