State-owned Trading Corporation of Bangladesh (TCB) will procure 16.5 million litres of soybean oil from local private firms and 8,000 tons of lentil from a Turkish supplier for its ongoing open market sale (OMS) program.
The Cabinet Committee on Government Purchase (CCGP) approved three separate proposals in its meeting on Wednesday. Finance Minister AHM Mustafa Kamal presided over the meeting.
Import of 90,000 tons of fertiliser also received approval of the committee.
Officials said the purchase of soybean oil and lentils by state-marketing agency TCB is part of its move to run the ongoing OMS operation to sell some essential produces at subsidized rate for the low-income group.
Earlier, the CCGP gave nods to similar proposals placed by the Commerce Ministry on behalf of the TCB. The TCB is a subsidiary body of the Commerce Ministry.
As per the proposals, the TCB will procure 11 million litres of soybean oil from local Meghna Edible Oil Refinery Limited at a cost of Tk189.03 crore with each litre costing Tk171.85, down from previous rate of Tk185 per litre.
It will purchase 5.5 million litres of soybean oil from local Super Oil Refinery limited at Tk87.97 crore, with each liter costing Tk156.95 per litre, down from previous Tk185 per litre.
The TCB will procure some 8,000 tons of lentil from a Turkish firm at a cost of Tk70.98 crore, with each kilogram Tk88.73, down from Tk110 per kg.
The CCGP also approved two proposals of the Agriculture Ministry to import a total of 90,000 tons of fertilizer from abroad under state-level agreements.
As per the proposals, the Bangladesh Agriculture Development Corporation (BADC) will import 50,000 tons of MOP fertilizer from Canadian Commercial Corporation at Tk437.05 crore and 40,000 tons of DAP fertiliser from OCP, SA of Morocco at a cost of Tk302.37 crore.
