Thursday, November 14, 2019, 01:51:54 PM

Draft of Bangladesh Tariff Commission (amend) Act okayed

Staff Correspondent | banglanews24.com
Update: 2019-06-17 6:21:43 PM
Draft of Bangladesh Tariff Commission (amend) Act okayed

DHAKA: The cabinet gave final approval to the draft of Bangladesh Tariff Commission (Amendment) Bill-2019 bringing four reforms to widen the scope of commission’s activities. 

The commerce ministry placed the bill before the weekly cabinet meeting held at the Prime Minister’s office (PMO) on Monday (June 17), with Prime Minister Sheikh Hasina in the chair.

Cabinet secretary Mohammad Shafiul Alam said this at a press briefing at conference room of the cabinet division after the meeting.

Shafiul Alam said that the commission was established in 1973 during the tenure of Bangabandhu Sheikh Mujibur Rahman as a government office.

Later in 1992, the commission was established as a statutory body through formation of Bangladesh Tariff Commission Act-1992.

There have been many changes in the year 2019 from 1992. Four changes have been made for this.

Four changes are ….

Firstly, the existing Bangladesh Tariff Commission (BTC) will be known as the Bangladesh Trade and Tariff Commission (BTCC).

Secondly, the BTC can now carry out  its  special remit in matters of trade and tariff based on research, international and regional shipment, GSP, Trade-Commerce policy, investment policy, foreign trade policy etc.

BTTC will carry out investigation into the issues related to trade safety measures to protect the interest of local industries and prepare recommendation over imposing protective customs duties for specific duration to protect and help flourish potential infant industries in the country.

As per change in section-12, after taking permission from the government, the commission can appoint necessary number of consultants and researchers for a specific period in order to assist in the task of conducting research and study activities.

The cabinet at its weekly meeting congratulated Prime Minister Sheikh Hasina as Bangladesh was elected a member of the prestigious Economic and Social Council (ECOSOC) of the United Nations from the Asia-Pacific region by securing 181 votes out of 191.

BDST: 1735 HRS, JUNE 17, 2019
RS

 
 

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