Overseas shipping agents and their business in Bangladesh
Saturday, 6 December 2008
SOME of the local media have recently been publishing critical news items about foreigners being employed in shipping business in Bangladesh without otherwise following the government's business rules and regulations.
The shipping companies are reported to be taking away substantial amounts of money through various devious means, in the absence of clear rules for the foreign expatriates to work in the local shipping companies.
There are quite a few instances where these foreigners get into Bangladesh as the local representatives of their parent companies and they are ultimately becoming the key position-holders. Thus, they become the owners and controlling authority of the total business activities. As there are hardly any foreign-oriented investments for these purposes, there are strong reactions prevailing among the local shipping business circles. Such businesses are basically service-oriented ones.
One such a local entrepreneur having a vast experience of over 40 years had commented with frustration that they were running the shipping business in the country very successfully and efficiently. But, as ill-luck would have it, in the absence of specific rules and regulations of the government, the foreigners are taking advantage of the lacunae to transfer money in foreign currency out of the country. Such foreigners are earning or getting three to ten times more than their local counterparts. Though most of the expenses, in different forms, on account of such expatriates are supposed to be borne by the foreign sipping companies, but virtually all those expenditures are ultimately imposed on the shoulders of the local agents. In this process, there is a large drainage of money in the name of salaries and other fringe benefits.
Furthermore, it is also alleged that such foreign representatives are involved in some 'unwelcome' activities in the country. In this connection, the members of the local business communities mentioned the issue of motivated collection (M/C) of the so-called Documentation Fee(DIF) for every import made into the country.
After 1/11 change-over, the caretaker government (CTG) had stopped many such irregular practices, The local business community in shipping sector feels that since creation of Bangladesh, our shipping business people are successfully performing their business and there is no need for their being trespassed by the foreign expatriates.
In this context, it is welcome that the government, as the reports in the media said, is taking steps to frame a policy to immediately restrict overseas shipping agents from doing unauthorised business in the country. When this move really takes effect, this may help usher in a new hope for getting rid of random entering of the foreign business expatriates in an area that can be better handled by the members of the concerned local business community.
Ibne Sakhawat
1/4-E, South Mughdapara,
Dhaka-1214
The shipping companies are reported to be taking away substantial amounts of money through various devious means, in the absence of clear rules for the foreign expatriates to work in the local shipping companies.
There are quite a few instances where these foreigners get into Bangladesh as the local representatives of their parent companies and they are ultimately becoming the key position-holders. Thus, they become the owners and controlling authority of the total business activities. As there are hardly any foreign-oriented investments for these purposes, there are strong reactions prevailing among the local shipping business circles. Such businesses are basically service-oriented ones.
One such a local entrepreneur having a vast experience of over 40 years had commented with frustration that they were running the shipping business in the country very successfully and efficiently. But, as ill-luck would have it, in the absence of specific rules and regulations of the government, the foreigners are taking advantage of the lacunae to transfer money in foreign currency out of the country. Such foreigners are earning or getting three to ten times more than their local counterparts. Though most of the expenses, in different forms, on account of such expatriates are supposed to be borne by the foreign sipping companies, but virtually all those expenditures are ultimately imposed on the shoulders of the local agents. In this process, there is a large drainage of money in the name of salaries and other fringe benefits.
Furthermore, it is also alleged that such foreign representatives are involved in some 'unwelcome' activities in the country. In this connection, the members of the local business communities mentioned the issue of motivated collection (M/C) of the so-called Documentation Fee(DIF) for every import made into the country.
After 1/11 change-over, the caretaker government (CTG) had stopped many such irregular practices, The local business community in shipping sector feels that since creation of Bangladesh, our shipping business people are successfully performing their business and there is no need for their being trespassed by the foreign expatriates.
In this context, it is welcome that the government, as the reports in the media said, is taking steps to frame a policy to immediately restrict overseas shipping agents from doing unauthorised business in the country. When this move really takes effect, this may help usher in a new hope for getting rid of random entering of the foreign business expatriates in an area that can be better handled by the members of the concerned local business community.
Ibne Sakhawat
1/4-E, South Mughdapara,
Dhaka-1214