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The government has issued 15 state guarantees to the Trading Corporation of Bangladesh (TCB) for procuring key essentials such as edible oil, sugar, and lentils, according to sources.
These guarantees will remain effective for a year from the date of issuance.
An official said the guarantees have been issued to procure 31.9 million litres of soybean oil in five lots, 20,000 tonnes of sugar in four lots, and 25,500 tonnes of lentils in six lots to support the TCB's programmes for 10 million cardholder families through domestic sources.
The Finance Division under the Ministry of Finance has recently given the necessary permission, and the guarantees have been issued in favour of Sonali and Rupali Banks on their Loan against Trust Receipt (LTR).
The TCB will have to ensure transparency and accountability to get competitive prices while purchasing the essentials.
It will also have to follow the existing procurement law and regulations in this regard properly. According to the division, it will submit a detailed plan for paying earlier loans and meeting its trade gaps.
Currently, the TCB is operating subsidised sales of food items across the country to rein in surging prices.