SANGSAD BHABAN, Jan 20, 2020 (BSS) – Bangladesh Road Transport Corporation Bill, 2020 was placed in the Jatiya Sangsad (JS) today for enacting an updated law, repealing the existing ‘Road Transport Corporation Ordinance, 1961’ (East Pakistan Ordinance No. VII of
1961).
Road Transport and Bridges Minister Obaidul Quader placed the bill in the parliament with
Speaker Dr Shirin Sharmin Chaudhury in the chair.
Later, the bill was sent to the Parliamentary Standing Committee on the Ministry of Road
Transport and Bridges for further scrutiny within 14 working days.
According to the bill, the new law having 29 Articles will replace the existing Road Transport
Corporation Ordinance, 1961 with 35 articles.
Under the new law, the proposed capital of the corporation has been fixed at Taka 1000 crore
divided into some 100 crore shares having a face value of Taka 10 for per share.
There is a provision in the law that up to 51 percent of the share of the paid-up capital will be
fixed for the government ownership while remaining 49 percent share will be fixed for selling
among the general people.