Chittagong, Dec 22 (V7N)- Shipping Advisor Retired Brigadier General M Sakhawat Hossain has revealed the presence of a mafia ring at Chittagong Port, stating that the port had been dominated by the same organization for 40 years, which hindered new entrants and limited the profitability of the Shipping Corporation.

He made the remarks while attending the annual general meeting of the Shipping Corporation as the chief guest on Monday afternoon.

The advisor highlighted ongoing foreign investment initiatives, noting that the government has arranged a $1 billion investment in Chittagong. He also said that large international institutions are expected to enter the country’s stock market, which will promote progress in Chittagong and increase job opportunities.

Meanwhile, it was reported at the meeting that the Shipping Corporation has achieved its highest income in its 54-year history, marking a milestone in the organization’s performance.

END/SMA/AJ