The government has taken the initiative to import 5.5 lakh tonnes of rice to increase stock.
To this effect, Cabinet Committee on Economic Affairs in a meeting today approved in principle a proposal for shortening the timing of bidding process -- from 42 days to 10 from the publication of advertisements in papers.
Finance Minister AHM Mustafa Kamal presided over the meeting, said a press release.
While addressing a briefing virtually, the finance minister told media that the measure has been taken as rice production was hampered due to several reasons, including natural disaster.
But the food ministry has been instructed to import rice on a limited scale so that farmers of the country do not incur loss, the minister said.