The other accused are former education minister Shaikh Shahidul Islam, Chairman of Vantage Internationa lMI Karim, former executive director of Bangladesh Shipping Corporation (BSC) Tareq Anish Ahmed and BSC General Manager (technology) Abul Kashem.

Bac Inspector Syed Tahsinul Huq submitted the charge sheet to the Court of Chief Metropolitan Magistrate, Dhaka the same day. Bac had filed the case with Ramna Police Station on February 17, 1991.

The government decided to buy two container ships from Karachi Shipyard in 1988 under a $50 million loan from the Pakistan government. The shipyard sent its quotations to the BSC following a request.

Though the international price of each container ship was $19 million, the five accused decided to buy each for $22.25 million, Bac officials said.

As a result, the state exchequer had to pay an extra Tk 24.4 crore in increased price. The country also incurred a loss of Tk 5.16 crore in interest for making an 80 percent down payment in advance, though there was no provision for such payment in the deal, added the Bac officials.

Bac found the former education minister signed the purchase order in absence of purchase committee chairman AK Khondoker, and the government officials put pressure on the tender committee and negotiation committee to approve the deal, Bac sources said.

However, BSC sources said the two ships are yet to reach Bangladesh.