Trading Corporation of Bangladesh (TCB) will procure 1.10 crore litres of edible oil and 10,000 metric tons of lentil to sell through its open market sale (OMS) programme. Cabinet Committee on Government Purchase (CCGP) approved two separate proposals in this regard in a meeting on Thursday, presided over by Finance Minister Abul Hasan Mahmood Ali. Don’t listen to rumours involving commodity prices: PM  The Commerce Ministry placed the proposals on behalf of the TCB. According to proposals, the TCB will import 1.10 crore litres of Soybean oil through open tender from  City Edible Oil Ltd. at a total cost of Tk 174.66 crore with each litre at Tk 165.25. Jatka conservation week to begin March 11 The TCB will procure 10,000 metric tons of lentil at a cost of Tk 83.12 crore from Nabi Naba Food Limited with each kg at Tk 103.09.

The government of Bangladesh will import 12,500 metric tons (MT) of sugar and 220,000 MT of fertliser to meet the domestic requirements. Cabinet Committee on Government Purchase (CCGP) in a meeting on Wednesday (May 17, 2023) approved a number of proposals in this regard. Finance Minister AHM Mustafa Kamal presided over the meeting held virtually. According to a proposal of the Commerce Ministry, its subordinate body Trading Corporation of Bangladesh (TCB) will import the sugar from Accentuate Technology Inc., USA (Local Agent: OMC Ltd., Dhaka) through an international open tender system at total cost of Tk 66.27 crore with per kilogram (kg) cost at Tk 82.85. Also Read: PM Hasina: Bangladesh won't buy anything from those who impose sanctions against it Additional secretary to the Cabinet Division Sayeed Mahbub Khan, who briefed reporters about the Cabinet body meeting, said while approving the proposal the issue of the Prime Minister’s instruction not to import any goods from any country which imposed sanction on Bangladesh was not discussed in the meeting. The committee approved two separate proposals of the Industries Ministry to import a total of 60,000 MT of urea fertilizer and 10,000 MT of phosphoric acid by its subordinate body Bangladesh Chemical Industries Corporation (BCIC). Also Read: Tariff Commission recommends fixing loose sugar price at Tk 120, packaged Tk 125 per kg Of these, 30,000 MT of bagged granular urea will be procured from Karnaphuli Fertilizer Company Limited (Kafco) at cost of Tk 120.03 crore with per MT price at $371.25 while another 30,000 MT bulk granular urea fertiliser will be imported from SABIC Agri-nutrients Company of Saudi Arabia at a cost of Tk 106.25 crore with per MT price at $327.33.  The BCI will import 10,000 MT of phosphoric acid at Tk 60.95 crore from Sun International FZE, UAE (Local Agent: M/s Agro Industrial Input, Dhaka) for TSP Complex Limited, Chittagong. Each MT of acid will cost $566.50. Also Read: Letter to be sent to NBR to extend duty exemption on sugar import: Commerce Secretary The CCGP approved a total of six proposals of Bangladesh Agriculture Development Corporation (BADC), placed by the Agriculture Ministry, for importing a total of 160,000 MT of different types of fertilizers. Of these, the BADC will import 40,000 MT of DAP fertilizer from MA'ADEN, Saudi Arabia at a cost Tk 229.33 crore, $532 under the state level contract. Also Read: Raid if sugar is not sold at govt-fixed rate: Tipu Munshi It will import 30,000 MT of TSP fertiliser from OCP, S.A. of Morocco at a cost Tk 126.57 crore, with each MT price at $391.50, under the state level contract while 40,000 MT of DAP fertilizer will be imported from the same company of Morocco at a cost of Tk 233.42 crore with per MT price at $541.5. The BADC will import 50,000 MT of Muriate of Potash (MOP) fertiliser from the Canadian Commercial Corporation under the state-level contract at a cost of Tk 225.23crore, with per MT price at $418. Also Read: Japan wants to invest in sugar industry, biomass power, prepaid gas meters in Bangladesh The CCGP approved a proposal of the Local Government Division to extend the cost of the consultant by Tk 11.1 crore for its project "Water Supply and Sanitation in 23 Municipalities of Bangladesh (1st Revised)" being implemented by the Department of Public Health Engineering. Joint Venture of (1) Ranhill, (2) Farhat and (3) DDC had been appointed as consultant for the project. Also Read: Sugar disappears from Dhaka stores amid high price

Bangladesh Army-run Bangladesh Machine Tools Factory Limited (BMTF) will supply 3 crore blank smart cards to Bangladesh Election Commission (EC). Cabinet Committee on Government Purchase (CCGP) in a meeting on Tuesday approved the proposal along with some others from different ministries. Finance Minister AHM Mustafa Kamal presided over the virtual meeting. As per the proposal, the BMTF will supply the smart cards under the Identification System for Enhancing Access to Services (2nd Phase) project of the Arms Forces Division of the Prime Minister's Office at contract value of Tk 406.50 crore.        Under other proposals, approved  by the CCGP, state marketing agency Trading Corporation of Bangladesh (TCB) will import 12,500 metric tons (MT) of sugar and 1.10 crore litres of soybean oil for its ongoing programme to sell those in open market. Each kg of sugar will cost Tk 82.92 while the soybean oil will cost Tk 146.10 per litre Of these, Smart Matrix Pte., Ltd., Singapore (Local Agent: Mark Line Enterprise, Dhaka) will supply 12,500 MT of sugar at Tk 66.79 crore while the Guven Traders Ptv. Ltd., India (Local Agent: HH Enterprise, Dhaka) will supply 1.10 crore of soybean oil at Tk 148.30 crore. Supplier Smart Matrix Pte., Ltd., Singapore was selected for sugar supply through an international bidding process while the Guven Traders Ptv. Ltd., India, was chosen by the TCB through direct procurement method without any bidding process. The Cabinet body approved a number of proposals of the Roads and Highway Department (RHD) under the Roads Transport and Highway Division to award contracts for road constructions. Of these, the Joint Venture of (1) SRBG, China; and (2) and BTC, Bangladesh won a contract of the Lot No- DS-7 under Package No- WP-04 of the Project "Sasec Dhaka-Sylhet Corridor Road Development" at Tk 947.74  crore. The Joint Venture of (1) CSCEC7, China; and (2) Spectra Engineers Ltd., Bangladesh won the contract of the Lot No. DS-8 under Package No- WP-04 of the project “Sasec Dhaka-Sylhet Corridor Road Development” at Tk.1, 178.68 crore. The RHD selected Taher Brothers Ltd. to award the contract for “Upgradation of Gouripur-Anandganj-Madhupur-Dewanganj Bazar-Hosenpur District Highway to the proper standard” at a value of Tk 131. 47 crore. The RHD selected Joint Venture of (1) Mozahar Enterprise Pvt. Ltd., (2) National Development Engineers Ltd., and (3) Sagar Info Builders Ltd. for Package No. PW-01 of "Sherpur (Kanasakhola)-Bhimganj-Narayankhola-Rambhadrapur-Mymensingh (Rahmatpur) Road Development '' Project at Tk 149.99 crore. The Joint Venture of (1) National Development Engineers Ltd. , and (2) Hasan Techno Builders Ltd., has been selected by the RHD for the package No. PW-02 of the "Sherpur (Kanasakhola)-Bhimganj-Narayankhola-Rambhadrapur-Mymensingh (Rahmatpur) Road Development" at a contract value of Tk 180 crore. Meanwhile, the Cabinet Committee on Economic Affairs at a meeting approved in principle a proposal of the Directorate General of Health Services to procure Firstline TB Drugs, Medical and Surgical Supplies and Laboratory Equipment from the Essential Drugs Company Limited through Direct Purchase Method (DPM) without bidding process. The drugs, services and equipment will be procured for the "Health and Gender Support in Cox's Bazar District (2nd Revised)"project under the United Nations Office for Project Services.    

The government has resumed importing LNG (liquefied natural gas) from the international spot market. According to official sources, the Cabinet Committee on Government Purchase (CCGP) approved a proposal of the state-owned Petrobangla to import one cargo of LNG. Agriculture Minister Abdur Razzaque presided over the meeting held virtually on Wednesday. The government had earlier suspended the import of LNG from the international spot market in July last year (2022) following the excessive hike in prices of the gas against the backdrop of the Russia-Ukraine war. Before the war, Bangladesh was purchasing LNG from the spot market between $6-10 per MMBtu. After the start of the war in February this year, the price crossed $37 per MMBtu.      Official sources said the Energy and Mineral Resources Division placed the proposal on behalf of its subordinate body Petrobangla to import the LNG. "The price of LNG was quoted at $19.78 per MMBTu (Million British Thermal unit) and the cost of the total consignment was set at Tk 850 crore", said a source at the Energy and Mineral Resources Division. He noted that the government has planned to import a total of 12 LNG cargos in 2023 to meet the growing demand for natural gas. Read moroe: Bangladesh expects 1-1.5mn MT LNG annually from Brunei starting early 2023 As part of the austerity measures, the government last year suspended power generation from diesel-fired power plants and also import of the LNG as the prices of the products went too high. As a result, the government was incurring a huge financial loss in importing LNG at higher prices and selling it to the local market at lower prices. But recently, the government raised the gas prices at retail level for power plants, industries, and commercial users to reduce subsidies in the sector as per advice of the International Monetary Fund (IMF) to get a loan from the multilateral lending agency. As per the recent announcement, the retail price of gas was raised by 14.5 percent to 178.9 percent for industries, power plants and commercial establishments, who together account for 78 percent of gas use in Bangladesh while price of gas for captive power plants and industries, gas was raised to Tk 30 per cubic metre. This would be a 150 percent hike for large industries, 154.7 percent for medium industries and 178.3 percent for small and cottage industries. For captive power plants, it would be an increase of 87.5 percent. Commercial establishments like hotels and restaurants will have to pay Tk 30.50 per unit, up 14.5 percent from the existing rate. Read more: Despite suspension of LNG import, govt decides to increase listed suppliers’ numbers The tariff for households, fertiliser production, CNG-run vehicles and tea gardens will remain unchanged. The country produces about 2,300 million cubic feet per day (MMCFD) gas from local gas fields to meet a demand of over 2,800 MMCFD leaving a gap of 500 MMCFD. To meet this gas the government has to import a huge LNG from abroad of which it meets 350 MMCFD gas through importing it from Qatar and Oman under long-term agreements while remaining 150 MMCFD is being imported from the international spot market.  

State-owned Trading Corporation of Bangladesh (TCB) will procure 2.75 crore (27.5 million) litres of Soybean oil from the local suppliers for its Open Market Sale (OMS) propgramme. Cabinet Committee on Government Purchase (CCGP) in a virtual meeting on Wednesday approved three separate proposals of the Commerce Ministry in this regard. Finance Minister AHM Mustafa Kamal presided over the meeting while other members of the committee attended it virtually. The move of the TCB, a subordinate body of the Commerce Ministry, which has been operating as a state-marketing agency to tame the rising price hike of essentials, is part of the government's plan to procure some essential commodities in bulk and sell those through the OMS programme. As per the Commerce Ministry's proposals, the TCB will procure the entire edible oils through three open tenders. Read more: Soybean oil: No real effect of reduced tariff Under the proposals, some  1.10 crore litres of soybean oil will be procured from privately owned City Edible Oil Limited at a cost of Tk 203.32 crore with cost of each litre at Tk 104.48 per litre. The similar quantity of soybean oil will be procured from Super Oil Refined Limited at 204.44 crore with each litre cost at Tk 185.95 and some 55 lakh litres of soybean oils will be purchased from Shun Shing Edible Oil Ltd at a cost of Tk 101.47 crore with each litre's price at Tk 184.05.    The CCGP also approved some other procurement proposals, including the procurement of 130,000 metric tons of fertiliser. Of these, the Bangladesh Agriculture Development Corporation (BADC) will import 50,000 MW of Muriate of Potash (MOP) fertiliser from Canadian Commercial Corporation (CCC) at a cost of Tk 344.90 crore with each metric ton cost $655.03.  The Canadian Commercial Corporation will supply another 50,000 MT of MOP at the same price under a separate lot.  State-owned Bangladesh Chemical Industries Corporation (BCIC) will import 30,000 MT of bulk granullar urea from Fertiglobe Distribution Limited, UAE at a cost of Tk 163.75 crore with each metric ton costing Tk $518.33. The BCIC will also import 10,000 metric tons (MT) of phosphoric acid for its Chattagram TSP Complex Limited from Guizhou Chanhen Chemical Corporation, China (local agent Best Eastern, Dhaka) at a cost of Tk 73 crore. The CCGP approved a number of proposals of the Housing and Public Works Ministry to raise the cost of civil works  under its “Construction of Elevated Expressway from Lalkhan Bazar in Chittagong City to Shah-Amanat Airport” project. Read more: Bottled soybean oil to cost Tk 14 less per litre from tomorrow Under the proposals, the cost of the civil construction works No-WD-1 will be increased by Tk 649.02 crore, while cost of the civil works No-WD-1 of “Construction of road from Kalurghat Bridge to Chaktai Canal along the banks of Karnaphuli River” will get higher by Tk 230.05 crore. The CCGP approved a proposal of the Roads and Highways Department to award a Tk 1,085.34 crore contract to a joint venture of (1) CHSIETC, China; (2) SLGC, China and (3) PDL, Bangladesh to implement the Construction of lot No. DS-06 of the WP-03 package of the “SASEC Dhaka-Sylhet Corridor Road Development” project. The committee also approved three proposals for the extension costs of the three segments of a project under the South Asia Subregional Economic Cooperation (SASEC). As per the approvals, the cost of the work of No-WP-10 package of the “Sasec Road Link Project-2: Upgradation of Elenga-Hatikamrul-Rangpur highway to 4-lane” will be increased by Tk 211.03 crore while the cost of the work No - WP-11 package of the same project will be increased by Tk 147.65 crore and cost of the works No-WP-12 package will be enhanced by 142.84 crore.  

The government will import 500,000 metric tons (mt) of wheat from Russia and 330,000 mt of rice from India and Vietnam. Cabinet Committee on Government Purchase at a meeting approved such proposals, along with some other proposals on Wednesday. Finance Minister AHM Mustafa Kamal presided over the meeting.   As per the proposals placed by the food ministry, the bulk wheat will be procured from Russia at a total cost of Tk 2042.50 crore.  In dollar term, a total of US$ 215 million will be spent to procure the entire consignment from the Russian Federation under a government to government (G-to-G) contract.  Recently, the government at a high level meeting discussed whether alternative currency like Ruble could be used in the import from Russia.  But additional secretary of the Cabinet Division Md Abdul Barik, who briefed reporters about the cabinet body decision, informed that only US dollar, no alternative currency, will be used in this purchase.  He also said that nothing was mentioned in the purchase proposal as which Russian port will be used in importing the bulk wheat.  Also read: Purchase body okays 6 proposals including import of LNG, rice Each metric ton of the Russian wheat will cost $430 while per kg at Tk 40.85 considering US dollar exchange rate at Tk 95. Under other proposals, the Food Ministry will import 100,000 mt of non-bashmoti parboiled rice from India at a total cost of Tk 417.50 crore.  The bulk import will be executed in two lots of which 70,000 mt will be imported through Chattagram port while 30,000 mt will be brought through land port.  Each kg of rice through port will cost Tk 42.13 while each kg through land port will value Tk 40.70.  Each metric ton of rice will cost US$ 443.50. Under another proposal, the food ministry will import some 230,000 mt of non-bashmoti rice from Vietnam of which 200,000 mt will be non-bashmoti parboiled rice while remaining 30,000 mt is white rice (Atap).  Each kg of parboiled rice will cost Tk 49.49 while white rice will cost Tk 46.93.  An Indian company will supply the bulk rice from Vietnam in which per mt of parboiled rice costs $521 while per mt of white rice will cost $494.  The purchase committee also approved proposals for import of MOP and Urea fertiliser.  As per a proposal of the agriculture ministry, the Bangladesh Agriculture Development Corporation (BADC) will import 100,000 metric ton of MOP fertiliser from Dubai-Falco General Trading under a state-to-State contract at a cost of Tk 931.49 crore. Each metric ton of MOP will cost $980 which was earlier imported at $1100.    A total of 60,000 mt of urea fertiliser will be imported from Saudi-based SABIC Agri-nutrients Company in two equal lots.  Under the proposals, Bangladesh Chemical Industries Corporation (BCIC) will import each lot of 30,000 mt at Tk 117.98 crore.  Each metric ton of urea will cost $624.17 while previously it cost 534.33 per mt.

Finance Minister AHM Mustafa Kamal has said those who own flats or lands in Dhaka city are black money holders. “The existing system of the government make them owners of the black money”, he said while virtually briefing on the outcomes of the two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase  (CCGP) on Wednesday. Responding to a question he said owners of lands or flats register their properties at much lower rates than the actual.   The government’s registration fees of lands and flats have been fixed. But flat or land owners register their properties showing much lower rate to evade the taxes which make them owners of black money, he said. For instance, he said, if price of a flat in Gulshan is Tk 10 crore, it’s owner register it showing Tk 2 crore. Also Read: Law bars asking questions about laundered money: Finance Minister “So, in that sense, almost all the flat or lands owners in Dhaka city are black money holders”, he said. Kamal again defended the government’s recent amnesty for the money launderers and black money whitening steps saying that money becomes black due to the government’s improper systems. Due to the flaws in the government system, people get the chance to evade taxes, he added.