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Report on Bangladesh Petroleum Corporation Bill, 2016 placed

Chairman of Parliamentary Standing Committee on Power, Energy and Mineral Resources Ministry M Tajul Islam on Monday placed the report on the "Bangladesh Petroleum Corporation Bill, 2016".

The standing committee, in the report, recommended the House to pass the bill unanimously as determined by the committee.

Earlier, State Minister for Power, Energy and Mineral Resources Nasrul Hamid introduced the bill seeking annulment of the Bangladesh Petroleum Corporation Ordinance, 1976 and reformulation of the same on November 10, 2015.

The bill is aimed at giving legal coverage to the activities adopted under this ordinance and defending continuation of the actions taken so far.

According to proposed law, the BPC, with an approved capital of Taka 5 crore under the Energy and Mineral Resources Ministry, would have a maximum nine-member board of directors.

The bill said the BPC will be headquartered in Chittagong, but it could be shifted in the greater interest of the corporation.

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