The Immovable Asset Acquisition and Requisition Bill 2017 was approved by the Cabinet at a regular weekly meeting held at Bangladesh Secretariat on Monday with Prime Minister Sheikh Hasina in the chair.
According to Cabinet Secretary Mohammad Shafiul Alam, the draft law contains a provision which will provide three times the compensation to people affected by governmental land acquisition.
If any private organisation acquires land for public interest on purposes like setting up a school, the affected person would get compensation of four times higher than the market price.
The cabinet secretary said that the market price of the acquired land will be calculated on the average selling price of land of the area for the last 12 months.
The draft law also contains a provision for acquiring lands of any worship.
Shafiul Alam said the existing law was an ordinance promulgated in 1982 and the Ministry of Land placed the draft bill before the Cabinet in line with the earlier Cabinet decision to transform all the ordinances into acts after translating those into Bangla following a higher court verdict.
“In the Ordinance, it was stated that lands belonging to mosques, temples and pagodas and even graveyards and crematoriums cannot be acquired.
"But, as per Section 4(13) of the proposed law, such land can be acquired now if it is indispensable in public interest and the persons and organisations willing to acquire it will relocate or rebuild those with their own funds," he added.
The cabinet secretary said the organisations concerned who wish to acquire land would get some 120 days instead of the existing 60 days to provide the amount of compensation to the concerned deputy commissioners for land requisition.
On December 5 last year, the cabinet had approved the draft in principal and formed a committee with the law minister as the head along with the land secretary and defense secretary to finalise the draft.