Mohammed Badrul Ahsan :
The number of Bangladeshi ocean-going merchant ships declined by more than 60 percent in just three years mainly due to image crisis and double taxation in various international ports, insiders said.
According to official data, as of November last, the number of such ships come down to only 30 now from 72 in 2013.
Besides, gradual folding of ocean going ships by the local companies also caused the foreign currency earnings from the business to $8,000 a year from $40,000.
The drop has also affected the country’s remittance inflow as a large number of employees including cadets and seafarers became jobless, officials said.
According to Department of Shipping sources, under this situation the investors are turning their back from Bangladesh’s ocean-going ship business.
However, Bangladesh Bank (BB) in a recent letter to Bank and Financial Institutions Division has recommended the government giving cash incentives to the business of ocean-going ships carrying Bangladesh flag.
According to the letter, the central bank recommended the cash incentives against foreign currency earnings by the business at a rate fixed by the government.
BB also advised bringing the ocean-going ship business under the revised Industrial Policy 2016.
Meanwhile, about 12,000 unemployed skilled sailors are waiting for jobs in the sector, said the sources.
While Bangladesh’s 5.45 percent of foreign trades depend on the country’s flag carrying ships, the rest of the trades rely mainly on foreign ships.
The country’s 95 percent of imports and exports are done through sea.
According to Bangladesh Bank letter, the ocean-going ships carrying Bangladesh flag should receive financial benefits from the government like container ship owners. Container ship owners receive cash incentives from the government.
Bank interest rate facilities and delay in registration and lack of flag protection are also factors responsible for dwindling number of merchant ships in Bangladesh, sources in Department of Shipping said.
Sources also said India, Malaysia, Indonesia, Singapore and Kuwait enjoy 100 percent flag protection from their respective countries while Bangladesh ship owners enjoy only 40 percent such protection.
According to the sources, if the government dose not take immediate action on the issue, then ocean-going merchant ship business may come down to zero and take place in the history book of the country.
Meanwhile, no owner of such ships could be contracted for comments.
The number of Bangladeshi ocean-going merchant ships declined by more than 60 percent in just three years mainly due to image crisis and double taxation in various international ports, insiders said.
According to official data, as of November last, the number of such ships come down to only 30 now from 72 in 2013.
Besides, gradual folding of ocean going ships by the local companies also caused the foreign currency earnings from the business to $8,000 a year from $40,000.
The drop has also affected the country’s remittance inflow as a large number of employees including cadets and seafarers became jobless, officials said.
According to Department of Shipping sources, under this situation the investors are turning their back from Bangladesh’s ocean-going ship business.
However, Bangladesh Bank (BB) in a recent letter to Bank and Financial Institutions Division has recommended the government giving cash incentives to the business of ocean-going ships carrying Bangladesh flag.
According to the letter, the central bank recommended the cash incentives against foreign currency earnings by the business at a rate fixed by the government.
BB also advised bringing the ocean-going ship business under the revised Industrial Policy 2016.
Meanwhile, about 12,000 unemployed skilled sailors are waiting for jobs in the sector, said the sources.
While Bangladesh’s 5.45 percent of foreign trades depend on the country’s flag carrying ships, the rest of the trades rely mainly on foreign ships.
The country’s 95 percent of imports and exports are done through sea.
According to Bangladesh Bank letter, the ocean-going ships carrying Bangladesh flag should receive financial benefits from the government like container ship owners. Container ship owners receive cash incentives from the government.
Bank interest rate facilities and delay in registration and lack of flag protection are also factors responsible for dwindling number of merchant ships in Bangladesh, sources in Department of Shipping said.
Sources also said India, Malaysia, Indonesia, Singapore and Kuwait enjoy 100 percent flag protection from their respective countries while Bangladesh ship owners enjoy only 40 percent such protection.
According to the sources, if the government dose not take immediate action on the issue, then ocean-going merchant ship business may come down to zero and take place in the history book of the country.
Meanwhile, no owner of such ships could be contracted for comments.
