Parliamentary Committee demands action over port funds kept in troubled banks

Representational image of Parliamentary Committee- Collected

A parliamentary committee has expressed serious concern over the Chattogram and Mongla port authorities' investments in fixed deposits at several commercial banks, particularly financially troubled private banks, and their failure to withdraw the funds even after maturity.

The Parliamentary Standing Committee on Public Undertakings has recommended legal action and departmental proceedings against officials responsible for the investments. It also asked the port authorities to report the progress to the committee and recommended depositing all future funds with state-owned banks to reduce financial risks.

The recommendations were made at the committee's eighth meeting at the Jatiya Sangsad Bhaban, chaired by Chief Whip and committee chairman Nurul Islam Moni.

The meeting reviewed compliance audit reports on the Chattogram Port Authority for the 2020-21 fiscal year and the Mongla Port Authority. It also examined unresolved audit objections involving the two organisations under the Ministry of Shipping, including matters related to financial recovery, adjustments, write-offs, waivers and regularisation.

The committee called for identifying those involved in financial misconduct during the previous government and taking legal and administrative action against them. It stressed that anyone responsible for corruption or misuse of public funds must be held accountable, warning that such irregularities would not be tolerated under the present government either.

The committee also highlighted the need to prevent over-invoicing and under-invoicing in international trade by using global platforms and artificial intelligence-based technologies. It recommended automated customs duty payments through electronic billing and payment systems to speed up cargo clearance and improve transparency and efficiency in port services.

Regarding the fixed deposits, the committee expressed concern over investments exceeding prescribed limits and violations of existing policies. It recommended discussions with the banks concerned, legal measures and departmental action against those responsible.

The prolonged accumulation of auctionable containers and vehicles at Chattogram Port was another issue raised at the meeting. The committee recommended resolving the backlog by December 2026.

It also called for administrative action against those involved in removing loaded containers from the port under the guise of empty containers, as well as those responsible for container theft. The port authority was asked to present an update at the committee's next meeting.

The committee reviewed dredging activities at Mongla, Payra and Chattogram ports, progress in achieving targeted draft and navigability, construction of container terminals and the use of funds allocated to these projects. It recommended impartial investigations into suspected irregularities and appropriate action to resolve related audit objections.

The meeting also examined alleged irregular payments of special incentive bonuses to ministry officials and employees of various government agencies using port authority funds in violation of financial rules. The committee recommended legal and departmental action against those involved.

The meeting was attended by committee members, whips Mia Nuruddin Ahmed Apu and Md Akhtaruzzaman Mia, and other officials, including representatives of the Ministry of Shipping, National Board of Revenue, Comptroller General of Accounts and the Chattogram and Mongla port authorities.