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Bangladesh

Bill on deposition of surplus money to national exchequer placed in JS

A bill was placed in parliament today paving the way to bring the surplus money of different autonomous, semi-autonomous and statutory organisations and agencies, including non-financial corporations, to the national exchequer.

Finance Minister AHM Mustafa Kamal placed the bill to bring the self-governed agencies that have around Tk 2,12,100 crore idle money in different banks to the national exchequer.

The bill was sent to the parliamentary standing committee on finance ministry to examine and report back to the House in seven days.

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 2020”.

Of the idle money, the surplus one will be deposited to the national exchequer after keeping aside the operational cost, additional 25 percent of operational cost as emergency fund, money for general provident fund and pension.

The respective organisation can estimate its operational cost.

Earlier in September, the cabinet secretary while briefing reporters said that the latest balance of 61 organisations, an amount of Tk 2, 12,100 crore remains static as FDR in different banks…the money is not being invested for its better use.

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

Citing the example of five organisations having the highest idle money, the cabinet secretary told that Bangladesh Petroleum Corporation has Tk 21,580 crore idle money, while Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) Tk 18,204 crore, Power Development Board Tk 13,454 crore, Chattogram Seaport Tk 9,913 crore and Rajuk (Rajdhani Unnayan Kartripakkha) Tk 4030 crore.

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