Maersk, APL in dilemma for not submitting acquisition info
Tuesday, 3 November 2009
Jasim Uddin Haroon
Maersk Bangladesh and APL Bangladesh, two major shipping lines, are facing a fresh problem to continue operating, as the customs authority has found that the companies did not submit information relating to their purchased shares from the local partners.
Earlier on October 12, the National Board of Revenue (NBR) issued an instruction, with directives regarding the operation of foreign shipping lines in the country.
In reply of the NBR instruction on October 12, Chittagong Customs House (CCH) said: "The licensing authority (CCH) is yet to approve their (Maersk and APL) share acqisition, and their current status is opposite to the conditions set by the NBR's October 12 instruction."
Maersk Bangladesh, APL Bangladesh and NYK are the cent per cent foreign shipping lines operating in the country, and their combined shares are around 50 per cent of the country's more than 1.0 million container handlings.
Maersk Bangladesh and APL Bangladesh, two major shipping lines, are facing a fresh problem to continue operating, as the customs authority has found that the companies did not submit information relating to their purchased shares from the local partners.
Earlier on October 12, the National Board of Revenue (NBR) issued an instruction, with directives regarding the operation of foreign shipping lines in the country.
In reply of the NBR instruction on October 12, Chittagong Customs House (CCH) said: "The licensing authority (CCH) is yet to approve their (Maersk and APL) share acqisition, and their current status is opposite to the conditions set by the NBR's October 12 instruction."
Maersk Bangladesh, APL Bangladesh and NYK are the cent per cent foreign shipping lines operating in the country, and their combined shares are around 50 per cent of the country's more than 1.0 million container handlings.