Finance minister AFM Mustafa Kamal on Tuesday placed a bill in Jatiya Sangsad to enact a law allowing the government to use the ‘surplus funds’ of different government agencies, including autonomous, semi-autonomous, statutory authorities and non-financial corporations, for the ‘welfare of the public.’
The minister placed the bill aiming at bringing the reserve of the government agencies that have about Tk 2.12 lakh crore ‘idle money’ in different banks to the national exchequer.
The bill was sent to the respective parliamentary standing committee and the committee was asked to submit its report within 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 amount will be deposited to the national exchequer after keeping aside the operational fund, additional 25 per cent of operational fund as emergency fund, and amounts for general provident fund and pension.
The respective organisation can estimate its operational fund.
After approving the draft of the law by the cabinet, the then cabinet secretary on September 2 while briefing reporters said that the latest balance of 68 organisations, an amount of Tk 2,12,100 crore, remained static as FDR in different banks and the money was not being used for public welfare.
So, he said, the policy of the government was to take 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 and Mineral Corporation) Tk 18,204 crore, Power Development Board Tk 13,454 crore, Chattogram Seaport Tk 9,913 crore and Rajdhani Unnayan Kartripakkha Tk 4,030 crore.
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