Crude Oil

Screengrab from YouTube A gas station in Bangladesh selling oil

Government clears proposal to import crude oil worth Tk 5,204 crore

A proposal to import oil was approved at a virtual meeting of the Cabinet Committee on Public Procurement on Wednesday (November 4). Finance Minister AHM Mustafa Kamal presided over the meeting. At the end of the meeting, the finance minister informed about this approval.

The finance minister said, "Eight proposals have been put forward for approval in the cabinet committee meeting on government procurement. Of these, four were from the Ministry of Industries, two from the Ministry of Housing and Public Works and one each from the Department of Energy and Mineral Resources and the Department of Road Transport and Highways.

"The total amount of the approved eight proposals is Tk 5,664.68 crore. Out of the total financing, Tk 224.27 crore will be spent from GoB and the loan from Islamic Trade Finance Corporation (ITFC) and the amount from domestic banks will be Tk 5,440.40 crore."

After the meeting, Cabinet Secretary Abu Saleh Mostafa Kamal briefed the media on these issues.

He said Eastern Refinery Limited (ERL), a subsidiary of Bangladesh Petroleum Corporation (BPC) under the Department of Energy and Mineral Resources, would procure 1.3 million metric tonnes of crude oil for processing in 2021. The oil will be purchased from Adnoc in Abu Dhabi and Saudi Aramco in Saudi Arabia for Tk 5,204.74 crore. The procurement committee has approved the proposal.

In addition, equipment, hardware, etc. required for setting up of 12-lane VIC (Vehicle Inspection Center) at Dhaka Metro-1 office under Bangladesh Road Transport Authority (BRTA) under Road Transport and Highways Department for a period of 5 years will be supplied, installed, operated, maintained and handed over at the end. The Purchasing Committee has approved the proposal to appoint Computer Network System (CNS) Limited as the service provider.

The cost will be Tk 105.22 crore.