DHAKA, Nov 2,2022 (BSS) – The Bangladesh Oil, Gas and Mineral Corporation Bill, 2022  was passed in the Jatiya Sangsad  on Wednesday to expedite the exploration of oil, gas, and mineral resources in the country.
 
The new law will replace the Bangladesh Oil, Gas and Mineral Corporation Ordinance, 1985 which has been declared void by the court as it was promulgated during the regime of the military dictator.
 
State Minister for Power Nasrul Hamid  moved the bill in the House which unanimously passed by voice votes with Jatiya Sangsad Speaker Dr Shirin Sharmin Chaudhury in the chair.
 
Jatiya party lawmakers Kazi Feroz Rashid of Dhaka-6, Pir Fazlur Rahman of Sunamganj-4, Fakhrul Imam of Mymensingh -8, BNP lawmakers Harunur Rashid of Chapainawabganj-2, Rumeen Farhana of Women reserve seat-50,Gonoforum lawmaker Mokabbir Khan of Sylhet-2 and independent lawmaker Rezaul Karim Bablu of Bogra-7 discussed on the bill and sought for public review, but later it was made null and void by voice votes. 
 
As per the bill, a corporation will be established titled the Bangladesh Oil, Gas and Mineral Corporation for carrying out the purposes of this Bill. The corporation may also be called Petrobangla.
 
This will be a body having perpetual succession and a common seal with power to acquire, hold and dispose of property, both movable and immovable, and shall by the said name sue and be sued.
 
The main office of the corporation will be established in Dhaka, whereas, if necessary, its offices can be set up in any place in and outside the country taking prior permission from the government.
 
The authorised capital of the corporation shall be Tk 5,000 crore, which was Tk 200 crore, while the paid up capital will be Tk 200 crore.