cabinet

Cabinet okays draft for utilizing 68 agencies’ Tk 2.12t idle money

MNA National Desk: 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 as 68 self-governed agencies have Tk 2.12 trillion of idle money in different banks.

To ensure the better use of the surplus money, the Cabinet on Monday approved the draft of a bill at its meeting held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.

The title of the bill is ‘Deposition 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 organisations, an amount of Tk 2.12 trillion remains static as FDR in different banks…the money is not being invested for its better use,” said Cabinet Secretary Mohammad Shafiul Alam.

So, he said, the policy is to bring the surplus money to the national exchequer with the proposed law for financing different development projects and supporting public welfare.

Of the idle money, the surplus one will be deposited to the national exchequer after keeping aside the operational cost, additional 25 per cent of operational cost as emergency fund, money for general provident fund (GPF) and pension, Shafiul Alam said.

The respective organisation can estimate its operational cost, he said.

Citing the example of five organisations having the highest idle money, Shafiul Alam said Bangladesh Petroleum Corporation has Tk 215.80 billion idle money, while Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) Tk 182.04 billion, Power Development Board Tk 134.54 billion, Chattogram Seaport Tk 99.13 billion and Rajuk (Rajdhani Unnayan Kartripakkha) Tk 40.30 billion.MNA

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 as 68 self-governed agencies have Tk 2.12 trillion of idle money in different banks.

To ensure the better use of the surplus money, the Cabinet on Monday approved the draft of a bill at its meeting held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair, according to UNB.

The title of the bill is ‘Deposition 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 organisations, an amount of Tk 2.12 trillion remains static as FDR in different banks…the money is not being invested for its better use,” said Cabinet Secretary Mohammad Shafiul Alam.

So, he said, the policy is to bring the surplus money to the national exchequer with the proposed law for financing different development projects and supporting public welfare.

Of the idle money, the surplus one will be deposited to the national exchequer after keeping aside the operational cost, additional 25 per cent of operational cost as emergency fund, money for general provident fund (GPF) and pension, Shafiul Alam said.

The respective organisation can estimate its operational cost, he said.

Citing the example of five organisations having the highest idle money, Shafiul Alam said Bangladesh Petroleum Corporation has Tk 215.80 billion idle money, while Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) Tk 182.04 billion, Power Development Board Tk 134.54 billion, Chattogram Seaport Tk 99.13 billion and Rajuk (Rajdhani Unnayan Kartripakkha) Tk 40.30 billion.

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