Overhaul of procurement law in the pipeline
The Department of Implementation, Monitoring and Evaluation has been advised to make necessary amendments
The government is set to amend the existing procurement law to get essential commodities like rice, wheat, oil, and onions in the shortest possible time, given the rapid fluctuation in their prices.
Finance Minister AHM Mustafa Kamal said an approval to this effect was granted during a meeting of the Cabinet Committee on Economic Affairs on Wednesday.
At an online briefing after the meeting, the finance minister said that 40-42 days are currently provided for international tenders. However, it is not possible to procure products such as rice, oil, wheat, onion, etc., within this time.
Keep updated, follow The Business Standard's Google news channel
To facilitate quick purchases, an amendment to the procurement law is needed, he said, adding that the Department of Implementation, Monitoring and Evaluation has been advised to make amendments.
Under the amendment, the food ministry's proposal to import 1 lakh ton of non-basmati rice has also been approved in principle.
The Cabinet Committee on Public Procurement has approved the Department of Secondary and Higher Education's proposal to spend Tk83 crore on building reading habits.
Bishwo Shahitto Kendro will provide 24-month consultancy support on developing reading habits.
A proposal has also been approved to purchase submarine cables for the Rural Electrification Board to facilitate expansion of its distribution network across Rajshahi, Rangpur, Khulna, and Barisal divisions.
These cables will be purchased from BRB Cable at a cost of Tk108 crore.
