Govt purchasing 3.30 crore liters of soybean oil for TCB

Govt purchasing 3.30 crore liters of soybean oil for TCB

Staff Correspondentdaily-bangladesh.com

Published: 16:59 3 August 2022   Updated: 18:24 3 August 2022

Soybean oil; File Photo

Soybean oil; File Photo

The government has approved the purchase of 3.30 crore liters of soybean oil from the United Arab Emirates (UAE) and Canada for Tk 448.82 crore for the Trading Corporation of Bangladesh (TCB).

The proposal was approved in a meeting of the Cabinet Committee on Government Purchase (CCGP) held virtually on Wednesday afternoon under the chairmanship of Finance Minister AHM Mustafa Kamal.

At the end of the meeting, Md. Abdul Barik, additional secretary of the Cabinet Division, briefed the details of the proposal.    

He said 2 proposals were presented for the approval of the Cabinet Committee on Economic Affairs(CCEA) and 3 proposals for the approval of the CCGP. Among the purchase proposals were one proposal from the Ministry of Commerce and 2 proposals from the Ministry of Industry. 

The total amount of 3 proposals approved by the purchase committee is Tk 764,30,12,100. Out of the total financing, GOB cost will be Tk 448,82,64,000 and domestic bank loan is Tk 315,47,48,100, he also said. 

Md. Abdul Barik added that 2.20 crore liters of oil will buy from UAE and 1.10 crore liters of oil will buy from Canada – at the rate of $1.44 per liter or Tk 136 per liter – for TCB under the Ministry of Commerce at Tk 448,82,64,000 through DPM (direct purchase method) system. 

DailyBangladesh/AS