Dhaka: The Cabinet on Monday approved the draft of the Petroleum Bill subject to the vetting of the Law Ministry to regulate import, storage and transportation of petroleum more efficiently through making the existing law a time-befitting one.

The approval came from the regular weekly meeting of the cabinet held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.

In a post-meeting press briefing Cabinet Secretary Musharraf Hossain Bhuiyan said Energy and Mineral Resources Division placed the draft Bill in Bangla in line with the earlier cabinet decision after necessary review and updating the Petroleum Act, 1934 and the Petroleum Amendment Ordinance, 1986.

He said the proposed law kept a provision of raising punishment for violating the rules under the law, including petroleum production, refining, mixing, recycling or reusing.

The cabinet secretary said in case of not denial in providing information by the authorities concerned about any accident under the Section 24 (1. Cha) of the draft law, the punishment has been raised to six months’ jail or Tk 10,000 fine or both.

If the offence is repeated, he said the punishment will be doubled to one year jail or Tk 20,000 fine or both.

M Musharraf Hossain Bhuiyan said a provision has been created under the rules of the proposed law to regulate the issues relating to petroleum import, storage and movement.

Rules would also have to be followed under the law on petroleum production, mixing, refining, recycling and reuse, added the secretary.

Besides, he said, the caution sign or note will have to be displayed on petroleum containers, while the authorised officers have been empowered to collect petroleum specimen, issue monitoring certificates.

The authorised officers will also be able to conduct search or seize dubious things during petroleum production, distribution and transportation.

The draft law also categorised petroleum in three classes — class one, class two and class three — considering their heating value.

The cabinet meeting also approved in principle the draft of the Bangladesh Ship Recycling Bill.