The Financial Express

Govt buying huge soybean oil for rationing

Cabinet body nods 16.5m-litre oil purchase, 120,000mt fertiliser import

| Updated: September 24, 2022 14:04:12

Govt buying huge soybean oil for rationing

The government will procure another 16.5 million litres of soybean oil for the Trading Corporation of Bangladesh (TCB) to sell at subsidised prices, as prices of the edible oil continue to be high.

The approval was given Wednesday at a virtual meeting of the Cabinet Committee on Government Purchase with Finance Minister AHM Mustafa Kamal in the chair. Cabinet division additional secretary Abdul Barik briefed newsmen about the buys.

Last week the TCB also got approval of the committee for buying 22.5 million litres of soybean oil and 15,000 tonnes of lentils from local suppliers for its open-market sale (OMS) operation.

Under the new approvals the TCB will buy 5.5 million litres of soybean oil each from three local companies--Super Oil Refinery Ltd., City Edible Oil Ltd and Meghna Edible Oil Refinery.

All of the three suppliers--who are among the companies that dominate the domestic consumer market--will charge Tk 185 for each litre of the oil to be supplied in two-litre PET bottles.

The total procurement will cost the exchequer Tk 3.05 billion.

The cabinet committee also approved the import of 120,000 tonnes of fertiliser under four separate proposals.

Under the approvals Bangladesh Agricultural Development Corporation (BADC) will import 30,000 tonnes of Triple Super Phosphate fertiliser from OCP, SA of Morocco, at a cost of Tk 2.21 billion.

Bangladesh Chemical Industries Corporation (BCIC) will import 90,000 tonnes of urea fertiliser from Muntajat of Qatar and Kafco of Bangladesh.

Other approvals by the committee include awarding contracts for printing, binding and supplying of 1.12 million books for the students of primary and secondary education, and external electrification works of two buildings at Rooppur Green City Housing Complex on the nuclear power-plant premises.

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