BRTC has approved new legislation by increasing capital

:: Peoples Time Online ::

The cabinet has approved the draft of a new law by increasing the capital of Bangladesh Road Transport Corporation (BRTC). In the regular meeting of the cabinet on Prime Minister’s Office on Tuesday, the draft of ‘Bangladesh Road Transport Corporation Act, Prime Minister Sheikh Hasina presided over the meeting.

After the meeting, Cabinet Secretary Mohammad Shafiul Alam said in the briefing, “Bangladesh Road Transport Corporation was being run by a law of 1961, new laws were being updated by updating that law.”

He said, “Under the previous law, the authorized capital of the corporation will be 6 million taka and the corporation can increase the capital by written approval of the government. Under the new law, the proposed capital of the corporation has been proposed to be Tk. 1000 crore. 100 million ordinary shares of Tk 10 each will be split.

The Cabinet has approved the principle of ‘Sugarcan Institute Act’ to change the name of a new law. The name of this Act is ‘Bangladesh Sugarcrop Research Institute Act, 2018’.

The Cabinet Secretary said, “Sugarcan Research Institute is the only law for research on sugarcane in 1996. But there may be more Sugar from many more. The names are being changed to super-curricular research institute.

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