The cabinet has approved a draft bill to utilize idle money, as 68 self-governed agencies have Tk2,12,100 crore sitting in different banks.
The government has initiated a move to bring the surplus money of different autonomous, semi-autonomous, and statutory agencies, including non-financial corporations, to the national exchequer.
To ensure the better use of the surplus money, the cabinet on Monday approved a draft bill at its meeting held at the Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.
The title of the bill is "Disposition of Surplus Money of Self-Governed Agencies including Autonomous, Semi-Autonomous and Statutory Government Authorities and Public Non-Financial Corporations to the National Exchequer Bill 2019".
“According to the latest balance of 68 organizations, an amount of Tk2,12,100 crore remains static as FDR in different banks. The money is not being invested for better use,” cabinet Secretary Mohammad Shafiul Alam said.
Of the idle money, the surplus ones will be deposited to the national exchequer after keeping aside the operational costs, an additional 25% of operational cost as emergency fund, money for general provident fund (GPF), and pension, Shafiul said.
The respective organizations can estimate its operational cost, he said.
Citing the example of five organizations having the highest idle money, Shafiul Alam said Bangladesh Petroleum Corporation has Tk21,580 crore idle money, while Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) Tk18,204 crore, Power Development Board Tk13,454 crore, Chittagong Seaport Tk9,913 crore, and Rajuk (Rajdhani Unnayan Kartripakkha) Tk4,030 crore.
