Investment Corporation of Bangladesh (ICB), a state-run financial institution, approved an allocation of Tk 31 lakh to hold annual picnic, prompting the authorities to ask for clarification from the ICB board of directors.
Banking and Financial Institutions Division of the finance ministry wanted to know the rationality of allocating “a huge amount of money” from the ICB fund, officials said.
One of the board members from the finance division, Additional Secretary Gokul Chand Das, raised objection at a meeting of the board earlier when ICB officers submitted a requisition for an amount of Tk37 lakh in January.
He pointed out that the issue should be discussed further and suggested including it in the regular agenda of the board meeting. But later, the board approved Tk31 lakh in its next meeting when Gokul was not present at the meeting. Now the Banking and Financial Institutions Division sought explanation from the ICB as to why they allocated the fund, according to a letter served to the ICB.
Chairman of ICB Dr SM Mahfuzur Rahman said it is a misunderstanding of directors. “If we see the matter blindly, the amount may be big for annual picnic. But it includes two other jobs like annual sport and cultural function.”
